Nominal GDP, as the name implies, aims to be a measure of production in an economy. This means that shuffling around assets should not count towards nominal GDP

Nominal GDP, as the name implies, aims to be a measure of production in an economy. This means that shuffling around assets should not count towards nominal GDP. As no real production is happening through the use of Bitcoin (and there isn't really a Bitcoin economy to speak of in the traditional sense)[0], the majority of Bitcoin transactions are speculative, which means people are just shuffling around assets. Transaction volume is therefore not an accurate measure of nominal GDP for Bitcoin. [0]: http://computationallyendowed.com/blog/2013/11/27/bitcoin-deflation.html http://computationallyendowed.com/blog/2013/11/27/bitcoin-de...