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> BitPay alone recorded a merchant transaction volume increasing by 7.6x between February ($687k) and March ($5.2M): ... so total transactions increased by a lo
by andylei 14y ago
> BitPay alone recorded a merchant transaction volume increasing by 7.6x between February ($687k) and March ($5.2M): ... so total transactions increased by a lot more than 7.6x, maybe 10x, 20x, who knows)
your math is not good.
one provider having a large percent increase does not imply that the total market had a larger percentage increase. its entirely possible that BitPay gained a larger share of bitcoin transactions to achieve these numbers.
your argument is like saying: people using Google Chrome have increased by 1.2x over the past year, therefore, people using the internet must have increased by a lot more, maybe 5x or 10x, who knows.
- mrb 14y agoYou are right. I assume that the share of the Bitcoin transactions that are handled through BitPay were roughly the same in February and March. This may be only an assumption, but I do believe it is correct. The other data points I added to my post seem to confirm it: trades and transactions are widely increasing everywhere.