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December 14, 2013, 07:50:44 PM |
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Bitpay made 100 Million in merchant transactions this year. I would assume the total business transaction to be about 10 times that at 1 Billion. However, if you look at the chart in blockchain.info, you will find that the volume of transactions is 100 times that. I assume there are aare lot of transactions like online gambling etc..., which have a very high velocity of money and do not contribute in meaningful way to model the value of the currency.
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