So, consider me noob or a shitcoiner or fiat Maxi, I'll take any compliment. I just came across these statistics while talking about LN fee issue here #836799.
Here's what I first read.
In December 2024, Unified Payments Interface (UPI) transactions saw a record 8% MoM growth, reaching 16.73 billion transactions worth Rs. 23.25 trillion (US$ 271.96 billion), the highest since its launch in 2016. For the year 2024, UPI transactions grew by 46% in volume to 172 billion, with a 35% increase in value to Rs. 247 trillion (US$ 2.88 trillion). This growth was primarily driven by a rise in person-to-merchant transactions, with daily UPI transactions averaging 540 million in December, compared to 516 million in November. The growth trend was also reflected in Immediate Payment Service (IMPS) and FASTag transactions, which saw increases in both volume and value. Source
Let me praise UPI (tech and stats).
- It's processing more than 500 million transactions daily.
- All transactions are real time.
- No cost. (Nothing at all)
- No minimum (I've never done transaction below 1 Rupee, maybe that's the minimum).
- It doesn't reveal your identity to the receiver of payment. (It's private).
- It does not store my banking credentials.
- It's not linked to a single bank or app.
- It's linked to my SSN (Unique Identification Number) and then the app is linked to my mobile number which is linked in the bank.
- Your payment only goes through when you enter a unique that you only remember.
Enough!
It's crap and only crap. The reason we all know. It's a centralised system run by a centralised authority.
Still, people in India are dumbasses who ignored privacy over convenience. Right?
But Wait...
I've some other stats that will give us a bigger number for dumbasses.
Where's Alipay and WeChat pay? The graph above is a clear injustice with Chinese dumbasses. Let me tell you why?
From a global comparison perspective it is shown that the highest cumulated transaction value is reached in China (US$4,240.00bn in 2025).
Apart from telling about the shift of dumbasses prowess from USA to China, Statista have also suggested one bigger aspect of fiat charm. And that is,
Total transaction value in the Digital Payments market is projected to reach US$13.17tn in 2025.
U$13.17tn! Isn't it a concern for you? Bitcoin's market cap, if you can ignore ignore 1sat=1sat for a moment, isn't even 20% of it.
Yeah I know this wouldn't be a concern in Bitcoin Standard, but with 99% being dumbasses right now, when, in which year, we gonna see that happening? If that's gonna be after me, I better enjoy my money (I'm a hodler, not only for Bitcoin but two other alternatives).
Long live HODL!
You caught me red handed, but you forgot to mention if that's red right hand or red left hand.
If you've caught me from left you're absolutely wrong. I own Bitcoin for about half of what my total assets count. I'm a poor man, designed and directed by my red right hand. For other half I own a small house and a farm where we produce some crops and sell for fiat recieving through UPI because I've to remain one of them as there aren't genius Satoshis sitting on Indian streets buying grains and selling vegetables or groceries.
In fact these innocent and mostly uneducated people aren't dumbasses, or are they? I'm happy that they can somehow figure it out how to set up UPI payments for their small shop that hardly generates a revenue more than a few dollars. I only imagine will bitcoin ever be a convenient for them?
I'm emotional, I see them everywhere.
Well, I must recollect and console myself...
"Yessssh, it'll be easier and so much user friendly (of course decentralized and no kyc) that dumbasses will be Satoshis in no time."