Well, people use bitcoin to make transaction to move to another address for various reasons. But that doesn’t mean that the BTC doesn’t serve its purposes. Bitcoin is still in its service. People know how block chain technology works and thus people are now using the BTC into different sectors or applications.
Topic: Bitcoin Transaction Volume Tops PayPal, Creeps Up on Visa - page 3. (Read 733 times)
Does not matter what happens in the future with BTC, such as if it will be the dominating coin in the market or that it will change the face of the economy for good or that it will rule the economy, in the end BTC will be BTC. And its function will never be compromised.
Seems unbelievable, so I clicked out of curiosity. It identifies in the first paragraph that it is talking about transaction value, NOT transaction volume.
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.
This will not affect the main function of the BTC. This proves that bitcoin is getting more and more popular. Bitcoin will be the leader in the transaction processing system in future and by this it will be a powerful crypto currency in the world.
This the testimony of the fact that in future bitcoin will also be used for the payment system as well as it will rule and dominate the world’s economy and transaction systems. Such thing will add value to the market but the main function of the bitcoin will remain intact.
That's a great news. Bitcoin is the most potential coin in the cryptocurrency market and it has huge possibilities in future. By appearing on Visa, it is going to get more public attention and more exposure.
Unlike PayPal, people sometimes make transaction to move their bitcoin to another address/wallet for various reason such as consolidating input, move to wallet with different seed after claim forked coins or move to SegWit.
So, this news only valid tohype make bitcoiner happy.
But if some country/government decide to legalize Bitcoin as currency/payment method, actual Bitcoin transaction value will surpass PayPal easily.
Yeah and when you spend a little amount a lot more will be sent to another one of your addresses. So, this news only valid to
But if some country/government decide to legalize Bitcoin as currency/payment method, actual Bitcoin transaction value will surpass PayPal easily.
Well it shows for sure there is a lot of movement of bitcoin, trading obviously plays a
big part as most other currencies are traded against bitcoin.
Fortunately or unfortunately which ever way you want to look at it, it means spending
probably hasnt overtaken the "investment" useage of bitcoin.
big part as most other currencies are traded against bitcoin.
Fortunately or unfortunately which ever way you want to look at it, it means spending
probably hasnt overtaken the "investment" useage of bitcoin.
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.
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.
it is "value" not "volume"!
in my opinion although things such as both value and volume as in how much money was transferred through bitcoin and how many transactions per second it processes are great things to achieve, there is another important matter that we should not forget...
bitcoin is the only decentralized currency that has been created. when comparing it with PayPal and Visa you are comparing apples and oranges. decentralized currency with a distributed ledger versus centralized payment processors with a database. they are not even comparable.
in my opinion although things such as both value and volume as in how much money was transferred through bitcoin and how many transactions per second it processes are great things to achieve, there is another important matter that we should not forget...
bitcoin is the only decentralized currency that has been created. when comparing it with PayPal and Visa you are comparing apples and oranges. decentralized currency with a distributed ledger versus centralized payment processors with a database. they are not even comparable.
So there will be a possibility that bitcoin will be utilized as a form of payment like Paypal? Well bitcoin might become like this but it doesn't mean that bitcoin does not serve its purpose of course it is still there and i think that many people now are aware of block chain technology that is why they grasp already the use of bitcoin into different applications.
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/
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