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A comment on Warning Signs About Another Giant Bitcoin Exchange. Parent comment

Re:Warning Signs About Another Giant Bitcoin Exchange by mrb on Tuesday November 21, 2017 @08:51PM (#15753542)
> not being used for anything

That is a common misconception on HN, almost repeated on every Bitcoin thread. There is, in fact, evidence usage for payments is sharply increasing:

https://blog.bitpay.com/bitpay-growth-2017/

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Re:Warning Signs About Another Giant Bitcoin Exchange by bduerst on Wednesday November 22, 2017 @01:14AM (#15754709)
Transactions != Payments

The increases in transactions are due to HFTs speculating: https://www.bloomberg.com/news/articles/2017-01-16/high-spee...

Also, 70% of bitcoins won't be moved for 6+ months, making it more speculative than currency: https://www.coindesk.com/analysis-around-70-bitcoins-dormant...

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Re:Warning Signs About Another Giant Bitcoin Exchange by kss238 on Wednesday November 22, 2017 @03:55AM (#15755372)
Did you read the webpage? BitPay is a payment processor. They mention the increase in total BTC transactions but it focuses on their growth as a payment processor
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Re:Warning Signs About Another Giant Bitcoin Exchange by bduerst on Wednesday November 22, 2017 @11:42AM (#15758190)
They're converting Bitcoins to USD and back again, which is HFT activity. People are not using it to make payments to people but converting it to/from other currencies, which is speculative and not currency behavior.
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Re:Warning Signs About Another Giant Bitcoin Exchange by wc- on Wednesday November 22, 2017 @12:53PM (#15758824)
Bitpay is a payment processor, they receive bitcoin on behalf of a store, and then give the store USD or EURO or whatever. When Bitpay says their activity has gone up, that means more bitcoin is being used to pay for real goods, services, etc.

Please go back and read the article, or just look at their homepage...

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Re:Warning Signs About Another Giant Bitcoin Exchange by bduerst on Wednesday November 22, 2017 @09:17PM (#15762302)
Neither of those two articles mention bitpay. Did you reply to the right comment?
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Re:Warning Signs About Another Giant Bitcoin Exchange by mrb on Wednesday November 22, 2017 @11:38AM (#15758150)
You didn't even read the page. They showed an increase in payments.
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Re:Warning Signs About Another Giant Bitcoin Exchange by alt2501 on Wednesday November 22, 2017 @12:57AM (#15754606)
HN seems to be very negative towards crypto currency in general lately. Disappointing really.
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