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Author Topic: 200,000,000 USD is being transfered daily using bitcoin!  (Read 2013 times)
Reid
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March 03, 2017, 03:11:19 PM
 #41

Could be. But its bitcoin to bitcoin so it can happen.
Faucets pay to people who does the clicking and answering the captcha. There are some who pays directly.
Gambling site withdrawals and deposits.
Wallet to wallet transactions.
Scams in social medias.
Investment jokes and those spammers. Ergh!
BrewMaster
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March 03, 2017, 03:18:24 PM
 #42

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).
Well this actually explains most of it why there's alot of money transacted everyday. For example, i have a million dollars worth of bitcoin which can attract a lot of hackers so thats why i must changed my storage once or twice a week just to secure my money. And since im talking about million dollars i must spread in more 1-10 addresses or maybe more. And since there are alot of millionaires on Bitcoin then this kind of things may explains the reason why lots of millions dollars worth of bitcoin are transacted everyday.

that is completely wrong!
you can take a look at satoshi addresses, those coins have never moved for more than 8 years and they are secure, as safe as bitcoin gets. so it doesn't make sense at all to say "i have to move it to stay safe"!

and actually by moving it you can put yourself in danger.
imagine having your fund in paper wallet, you will have to make it every time you move funds. and one small mistake is enough to lose all of it.

There is a FOMO brewing...
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March 04, 2017, 09:52:34 AM
 #43

and you forgot trading with zero fees, so selling in one second 100 bitcoin to buy it again couple seconds later.
Bots moving so fast coins that it building momentum in such graphs.
Stop posting nonsense (I've seen you do this multiple times). On-exchange trading volume has zero impact on this graph.

That about 35 to 40 Bitcoin , which is not a large number i guess. i think more bitcoin is transacted daily and your assumption or fact is wrong i guess because a single user will transact 20 -30 bitcoin daily so 40 btc world wide is such a small number.
Another Yobit shit poster. Learn some primary school math first. "35-40 BTC x ~x1280$ = $200 Million".  Roll Eyes Roll Eyes Roll Eyes

that is the huge amount. I can not believe that there are many people using Bitcoin as the moment.
This number says nothing about the number of people using Bitcoin. In theory a single person could be behind all of those transactions.

Oh dear. If we do not activate the segwit, how can miners supply and transfer those transactions?
They can't.

Well this actually explains most of it why there's alot of money transacted everyday. For example, i have a million dollars worth of bitcoin which can attract a lot of hackers so thats why i must changed my storage once or twice a week just to secure my money. And since im talking about million dollars i must spread in more 1-10 addresses or maybe more. And since there are alot of millionaires on Bitcoin then this kind of things may explains the reason why lots of millions dollars worth of bitcoin are transacted everyday.
This is one of the worst ways of handling your Bitcoin wealth. Spreading it among addresses does nothing[1]. Spreading it among several wallets using the same network/systems does nothing[1]. Moving it into a new wallet every week or two does nothing to improve your security. In fact, constantly doing this increases the likelihood of a fatal mistake occurring and you losing everything.

[1] - Security wise only. You can debate privacy concerns, but that is not the point that I tried to address.

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Idrisu
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March 04, 2017, 10:28:39 AM
 #44

Op in your calculation did you including Personal transfer or company transfer they make from one Of their wallet to another wallet. To me this a very small unit control on united states of America Economic as the daily dollars trading in forex run in trillions dollars.
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March 04, 2017, 11:19:38 AM
 #45

A good measure of the utility of a payment system is the amount of fees people are willing to pay to use it. Currently, people are paying $250,000 per day. I wonder how that compares to other payment systems.

May not be strictly true. If the block size increases, the utility of the Bitcoin system will increase. But I suspect the overall transaction fees people pay to miners will come down.

The fee will go down if the block size is increased. But that will attract more users.
BitcoinHodler (OP)
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March 04, 2017, 01:03:21 PM
 #46

Op in your calculation did you including Personal transfer or company transfer they make from one Of their wallet to another wallet. To me this a very small unit control on united states of America Economic as the daily dollars trading in forex run in trillions dollars.

it is not my calculations, i even included the link. it is one of the blockchain.info's charts and it is showing all the bitcoin that is being sent from one address to another. and you can never tell if address 1 and 2 are personal, a big service, or just one whale playing around because of how bitcoin anonymity is.

and i don't get which part of this topic makes people think of "trading volume"! it is really weird!

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paul gatt
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March 04, 2017, 02:02:17 PM
 #47

it really is a huge number, blockchain is under great pressure from it, it's hard to be able to handle all of them quickly, so it was an error, every transaction is delayed and difficult to solve true genius. especially when Bitcoin higher prices, this makes about expenditure incurred by each of the smaller, and the small transaction fee, the transaction once again slowed down, this is so bad, but we One can not blame them, we are not rich, and we can not pay high fees for small transactions, so solutions need to have is the head blockchain
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