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A crucial missing data point is that Coinbase does all their transactions off-chain. If you send Bitcoin via Coinbase to a friend, it doesn't get reported on th
by tinkerrr 12y ago
A crucial missing data point is that Coinbase does all their transactions off-chain. If you send Bitcoin via Coinbase to a friend, it doesn't get reported on this chart. They have their own accounting system.
Bitcoin at its current stage cannot handle many transactions, as you point out. However, this doesn't mean there isn't a plan to make it handle many more transactions. See https://en.bitcoin.it/wiki/Scalability https://en.bitcoin.it/wiki/Scalability for more.
- sanswork 12y agoAnd coinbase stopped reporting their volume after they were caught out fudging the numbers. I think people vastly overestimate how much off block chain stuff they do.