41–50 of 62 posts
Also bigger than Twitter. Bitcoin has maybe 3 million users (maybe). Twitter has 300 million. I'm investing in both, and I wonder how much Bitcoin would be worth at 300 million users. The network effects are going to be fun to watch
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Bitcoin transaction volume in USD for the last 24 hours was $ 224 million. Not sure how much WU turnover in transaction value a day...
The best data I could find on this is in their 2015 annual report, which says they've had $81.6 billion in consumer-to-consumer transfers[0], which made up 79.21% of their revenue[1], so I guess we can estimate an annual turnover of $103 billion, which comes out to $282 million per day over the year of 2015. [0]: http://s1.q4cdn.com/568883301/files/doc_financials/2015Annua... - page 66 [1]: http://s1.q4cdn.com/568883…
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But doesn't market cap mean two entirely different things for a company and a currency?
Bitcoin transaction volume in USD for the last 24 hours was $ 224 million. Not sure how much WU turnover in transaction value a day...
Also bigger than Twitter. Bitcoin has maybe 3 million users (maybe). Twitter has 300 million. I'm investing in both, and I wonder how much Bitcoin would be worth at 300 million users. The network effects are going to be fun to watch
Lol HN really doesn't like Bitcoin. Sour grapes I guess
Bitcoin has gained no consumer adoption, most new development is happening with Ethereum, and Bitcoin got replaced in headlines with Blockchain.
I see this final pump-and-dump as a desperation move. Imagine this applied to stocks as "Let's pump AMZN, because if we don't, it will go out of business."
This time, the pump is done by miners predominantly and the volumes are small as people moved to more profitable investments long ago
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Long settlement times are a feature, not a bug. It reduces externality costs (drugs and terror) and reduces insurance costs. (reverseability)
Plus the bank gets to charge interest while they hold it, a week at my bank and a week at the receiving bank, for multiple transactions is a nice little earner.
It's kind of a pity that three years have passed since it arguably went mainstream (among the tech literate at least) and the most prevalent use case is still by and large speculation. Making money is cool and all but the technology had a lot more promise than this.
Up until this month - most of the speculation has been dead. That's why coinbase is pivoting. The majority of bitcoin is being used by people who need it in order to run their businesses.
Earlier quoted context omitted.
But doesn't market cap mean two entirely different things for a company and a currency?
Bitcoin transaction volume in USD for the last 24 hours was $ 224 million. Not sure how much WU turnover in transaction value a day...