I don't think we can ever know. This thing is literally an open public ledger you could sit forever sifting through it.
Just today, Bitcoin settled $51 Trillion in USD. We can't know whether someone sent themselves money, whether it was used for a crime, or whether someone paid their rent.
Sure, here. The dollar value I'm referring to is the amount of coins that were moved in the last 24h. We don't know if someone actually transacted something, or if they just moved funds from one wallet to another.
A ton of small cap stocks have higher trading volumes than that.
Sorry but it’s not anything but a digital collectible. The adoption of it is not accelerating. It is not going to replace anything. It’s just another speculative asset in a bull market bubble that has been going on since 2010.
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Just today, Bitcoin settled $51 Trillion in USD. We can't know whether someone sent themselves money, whether it was used for a crime, or whether someone paid their rent.
Do you agree the nominal market cap of all crypto is currently estimated around $3-3.5T?
So that would imply daily volume of 15x+ the entire market cap?
Just wanting to confirm facts here.
And btw, I said $51 TRILLION. Not billion.
What am I not seeing? Thanks for the help.
But yeah, $38b today. 519k coins moved on a higher volume day like Dec 5th, so around $52b.
My point is, this open protocol settles larger amounts than most countries, it's hard to assign any majority of it to crime.
Sorry but it’s not anything but a digital collectible. The adoption of it is not accelerating. It is not going to replace anything. It’s just another speculative asset in a bull market bubble that has been going on since 2010.