You should probably add a disclaimer somewhere in OP. In no way does this represent actual people moving money for actual services, goods and whatever. It includes everything, including:
1) People moving money to their own (other) addresses/wallets.
2) Exchanges and other services moving their money.
3) Moving Bitcoin into cold-storage (can fall under both point 1 or 2).
i thought it was implied
i also don't think "moving around" is a big/considerable percentage of this amount.
That is not really a big amount compared to it's competitors, like SWIFT. ---> SWIFT handles about $5 trillion per day, or given about 250
business days per year, about $1.25 quadrillion dollars a year. Similarly, CHIPS handles about $400 trillion per year, and Fedwire handles around
$900 trillion per year. SWIFT payment message volumes are usually around 11.5 million per day, giving an average payment size of around
$45,000.
Source :
https://www.fincen.gov/sites/default/files/shared/Appendix_D.pdf1. SWIFT is working with fiat so people will use it blindly without even asking what the hell it is.
2. SWIFT has been around for 44 years.
1. bitcoin is a new thing. people always think twice before using it, specially with all the bad media.
2. bitcoin has been around for only 8 years!
you can never compare what happens in the fiat world with bitcoin which is practically a toddler in comparison.
i'd say 200 million dollar is a great achievement.
Yes, it doesn't matter if people or exchanges move around their funds one to another wallet, I get the point is send/receive bitcoin equal to such amount of US dollar even though it doesn't represent exact number of fiat money flow into bitcoin.
However, people get used to buy and sell bitcoin which means fiat money flow in and out of bitcoin through exchanges.
If Swift and chips that handles bigger amount of transaction every year, bitcoin could exceed those numbers in the future, maybe around 20-40 years later. I mean we can compare the value of bitcoin has been spread = for 44 years equal to the current age of Swift or anything else.
