Topic: Bitcoin Transaction Volume Tops PayPal, Creeps Up on Visa - page 2. (Read 735 times)
As far I know the much of the value move through the wallet that own by the similar person. A few transaction happen till now. If you find out we will see the actual transaction of paypal. Whatever the number It’s a positive things I believe.
This is good, right? I really want bitcoin to beat PayPal. haha.... I mean sure, PayPal was convenient for a while, but now that we know how much money we can save with bitcoin transactions, I cannot wait for the day bitcoin officially becomes a digital currency. It will turn out cheaper, faster and way more convenient for all of us.
It already is digital currency and you can freely use it as such. The only problem is the lack of merchants accepting it.
Either way, it will be a long time before Bitcoin can be a true Paypal alternative. The Lightning Network is supposed to make it possible, but it's still in Beta and has a long way to go. For a more apt comparison, we should only be looking at Bitcoin transactions that were used for payments, and the only numbers of that sort that are tracked are the numbers processed by Bitcoin payment processors. Even that won't be entirely accurate because it doesn't account for peer-to-peer transactions.
To many, Bitcoin’s shot at “real-world” utility is defined by the yardstick of Visa’s transactional throughput; yet, the original cryptocurrency now purportedly handles more annual transacted value than PayPal—and appears to be gaining on Visa, fast.
https://cryptoslate.com/bitcoin-transaction-volume-tops-paypal-creeps-up-on-visa/
the possibility will always emerge in the future bitcoin will be more developed again and all depends on the investor itself https://cryptoslate.com/bitcoin-transaction-volume-tops-paypal-creeps-up-on-visa/
well it is not actually possible to have the accurate news about how much the transaction are happening everyday but as per the basic updates we can easily assume that how much high the transaction rate is so we shouldn't doubt about it volume cause we can hope that I will increase more in the future.
I don't think we can compare bitcoin with paypal or visa. They are completely different from bitcoin. The vision, working process, etc nothing is similar. So it's quite hard to replace paypal.
This is not the way we measure the efficiency or something like that. These are just values. Not all of them are real and unique transactions. So we should not compare them in this case.
I think bitcoin will surpass visa soon. And from my opinion bitcoin can be a very good alternative for paypal. The transactions are faster and safe so i think more people are going to join in future.
In order to transact from one address to another for different reasons Bitcoin is used. But that absolutely doesn’t mean that the Bitcoin is not serving its purpose, it’s doing so! As people know about the block chain now, they now are using the BTC for different applications!
Bitcoin is used to make transactions from one address to another address for various reasons. But even if doing other transactions BTC is still serving its purpose. People are now using the BTC into different applications as they know the process of block chain technology.
Wow this is awesome to hear. Although prices now might now be so attractive but this is a milestone that we should celebrate. This only proves that the spirit of bitcoin and cryptos are not dying so we should not lose hope.
This is good, right? I really want bitcoin to beat PayPal. haha.... I mean sure, PayPal was convenient for a while, but now that we know how much money we can save with bitcoin transactions, I cannot wait for the day bitcoin officially becomes a digital currency. It will turn out cheaper, faster and way more convenient for all of us.
Of course this is good! However, this article is talking about the value of money transacted with the Bitcoin network, not the number of transactions in total. There is a very important distinction there. Unfortunately, for Bitcoin to truly compete with visa, it will need to handle an equivalent amount of transactions per second (TPS). Visa can handle around 3000 TPS and Bitcoin can handle only about 7 TPS. So this article is actually talking about the amount of money transacted with Bitcoin. The good news is that the lightning network will allow us to completely blow visa out of the water! Bitcoin continues to grow and make milestones, with a massive amount of value transacted and not to mention the insanely high hash rate! Future is looking very bullish, hodl!
This is good, right? I really want bitcoin to beat PayPal. haha.... I mean sure, PayPal was convenient for a while, but now that we know how much money we can save with bitcoin transactions, I cannot wait for the day bitcoin officially becomes a digital currency. It will turn out cheaper, faster and way more convenient for all of us.
To many, Bitcoin’s shot at “real-world” utility is defined by the yardstick of Visa’s transactional throughput;
it is not "defined" that way, having a TPS close to Visa is only one of the many goals. the main goal of bitcoin has always been being a decentralized payment system not a payment system to compete with Visa or have fastest TPS possible.
however with Lightning Network we are already achieving that and far beyond that. so it is not just the value of the total transactions made daily. we are already capable of a lot faster and more transactions.
A fun wee figure but meaningless. Much of that 'value' will be coins moving between wallets owned by the same person or to and from exchanges. There are very few actual transactions taking place. It's primarily movement.
If we could boil down the figures to numbers that exactly matched how Paypal was used I don't think anyone would be shouting about it.
You might be right but if we check the volumes on exchanges, those don't indicate coins moved from a wallet to another, they indicate actual transactions, and both the volume and the value is quite high. At the same time I don't take this information for granted and I know Bitcoin still has some road ahead until it is used as widely as Paypal is. Unfortunately, Bitcoin is mainly being traded on exchanges, while almost every online shop uses paypal.If we could boil down the figures to numbers that exactly matched how Paypal was used I don't think anyone would be shouting about it.
what I see here, the obvious difference between bitcoin and paypal is, transaction time. bitcoin can be faster than paypal. even bitcoin only takes 1 hour when paypal must take up to 4 days. obviously it makes people switch to bitcoin and the volume of bitcoin transactions increases beating paypal.
I agree. By design and structure alone, bitcoin is better than paypal. If this is just movement of coins as others are pointing out, that's still something. It means there's a growing number of bitcoin users out there. Sooner than later, bitcoin will be the chosen mode of payment/transactions because of speed, accuracy and lower costs.
To many, Bitcoin’s shot at “real-world” utility is defined by the yardstick of Visa’s transactional throughput; yet, the original cryptocurrency now purportedly handles more annual transacted value than PayPal—and appears to be gaining on Visa, fast.
https://cryptoslate.com/bitcoin-transaction-volume-tops-paypal-creeps-up-on-visa/
https://cryptoslate.com/bitcoin-transaction-volume-tops-paypal-creeps-up-on-visa/
I will be so happy when that POS Paypal finally dies for good. Glad to see Bitcoin stomping on it right now and we are just getting started.
what I see here, the obvious difference between bitcoin and paypal is, transaction time. bitcoin can be faster than paypal. even bitcoin only takes 1 hour when paypal must take up to 4 days. obviously it makes people switch to bitcoin and the volume of bitcoin transactions increases beating paypal.
I agree. By design and structure alone, bitcoin is better than paypal. If this is just movement of coins as others are pointing out, that's still something. It means there's a growing number of bitcoin users out there. Sooner than later, bitcoin will be the chosen mode of payment/transactions because of speed, accuracy and lower costs.
what I see here, the obvious difference between bitcoin and paypal is, transaction time. bitcoin can be faster than paypal. even bitcoin only takes 1 hour when paypal must take up to 4 days. obviously it makes people switch to bitcoin and the volume of bitcoin transactions increases beating paypal.
A fun wee figure but meaningless. Much of that 'value' will be coins moving between wallets owned by the same person or to and from exchanges. There are very few actual transactions taking place. It's primarily movement.
On top of that, the idea of "transaction value" really doesn't mean much if the analysis doesn't account for change addresses. Most transactions involve change.
Let's say I use "Input A (0.5 BTC)" to pay "Address A" 0.01 BTC and "Change address B" 0.49 BTC. When you look that transaction up on Blocktrail, the "value" is 0.5 BTC, even though only 0.01 BTC changed hands. It's meaningless.
i don't know how Blocktrail does things since i have never checked it out but most of the explorers "guess" the change and exclude it. it usually is not that hard to do since change is for most transactions either
- too obvious back to the same address
- smaller
- a brand new address
- final output
and even if you don't, the difference is not that huge. maybe 10 or 20% lower. still the value transferred through bitcoin every day is huge.
A fun wee figure but meaningless. Much of that 'value' will be coins moving between wallets owned by the same person or to and from exchanges. There are very few actual transactions taking place. It's primarily movement.
On top of that, the idea of "transaction value" really doesn't mean much if the analysis doesn't account for change addresses. Most transactions involve change.
Let's say I use "Input A (0.5 BTC)" to pay "Address A" 0.01 BTC and "Change address B" 0.49 BTC. When you look that transaction up on Blocktrail, the "value" is 0.5 BTC, even though only 0.01 BTC changed hands. It's meaningless.
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