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Re:Bitcoin is a ‘boon for surveillance’, says former CIA dir... by boc on Wednesday April 14, 2021 @01:34AM (#26803291)
Just to bring some perspective, JP Morgan alone transfers the equivalent of the U.S. real gross domestic product each week. $2.8T per day, just by one bank.

Bitcoin+all of crypto combined is nowhere close to that scale. Bitcoin sees around 300k transactions per day. It's miniscule.

Re:Bitcoin is a ‘boon for surveillance’, says former CIA dir... by er4hn on Wednesday April 14, 2021 @01:46AM (#26803364)
Minor nit, but you are comparing amount transferred vs number of transactions. Yes, there is a difference of several orders of magnitude, in favor of usd.
Re:Bitcoin is a ‘boon for surveillance’, says former CIA dir... by boc on Wednesday April 14, 2021 @01:55AM (#26803422)
Fair - it's hard to get accurate info on the sum value of the transactions. Even if every transaction was a full bitcoin, it's still only $17B per day. Or still just six tenths of one percent of what JPM processes daily.
Re:Bitcoin is a ‘boon for surveillance’, says former CIA dir... by borg_ on Wednesday April 14, 2021 @04:19AM (#26804381)
No it's not hard to get some idea of the transaction volume, at least on chain transactions: https://www.blockchain.com/charts/estimated-transaction-volu....

It stands though that it's orders of magnitudes less than USD.

We will never find out such data for USD anyway, where do you verify for yourself that the claimed 2.7T is accurate?

Re:Bitcoin is a ‘boon for surveillance’, says former CIA dir... by cblconfederate on Wednesday April 14, 2021 @03:28AM (#26804054)
what if each of those BTC trasactions will be $1M ? btc is not going to be used to buy groceries obviously, and its slow tech will not become an issue for international trasactions. Banks still take days to clear their own international transactions and it hasnt stopped their adoption