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$19 Trillion In Transactions Settled On The Bitcoin Network In 2024www.zerohedge.com/crypto/19-trillion-transactions-settled-bitcoin-network-2024
358 sats \ 8 comments \ @Rothbardian_fanatic 5 Jan bitcoin
More than $19 trillion in transactions settled over the Bitcoin network in 2024 - more than double the $8.7 trillion settled over the network in 2023 - reversing two years of declining transaction volume since 2021.
As CoinTelegraph's Vince Quinn reports, according to data from vice president of research at Riot Platforms Pierre Rochard, Bitcoin transaction volume peaked during the 2021 bull market at approximately $47 trillion and sharply declined in 2022 and 2023.
it looks like transactions and hash rates are up for the first time in a couple of years. It hasn’t hit the all time high but is working its way back up to it. BTC!!!! FTS!
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22 sats \ 3 replies \ @OT 5 Jan
That's a crazy number.... I'd say a lot of that might be sending sats to yourself through upgrading cold storage. Still, even if 1/10th of it is real exchange its amazing that most people still think its a ponzi.
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0 sats \ 2 replies \ @Rothbardian_fanatic OP 5 Jan
Perhaps half of it could be self to self transfers. I think most of it must be transfers to settle debts of one kind or another. Why would people think it is a Ponzi scheme?
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4 sats \ 1 reply \ @OT 5 Jan
I mean just your everyday boomer. They're still saying stuff like it's not backed by anything, greater fool theory etc.
Articles like this should get them thinking a bit through that again. Or to actually get them to spend more than 5 minutes researching. Showing them that it has a 2T market cap and has settled 16T in 2024 is a bit of a wake up call.
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0 sats \ 0 replies \ @Rothbardian_fanatic OP 6 Jan
Yes, but who is it waking up? Most of the normies are thinking all sorts of things about BTC, none of them good. The propaganda machine of the banksters is working too hard and too well for people to tear the veil away. There has to be some sort of demonstration that cannot be denied, that is in their face for them to wake up.
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4 sats \ 3 replies \ @Shugard 5 Jan
Bitcoin is winning!
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0 sats \ 2 replies \ @Rothbardian_fanatic OP 5 Jan
Slowly but surely the transactions are going up again! I think that more and more people are actually using BTC as exchange. Perhaps states are using it to settle debts, too. It is good news any way you put it.
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2 sats \ 1 reply \ @nym 5 Jan
It will help for sure
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3 sats \ 0 replies \ @Rothbardian_fanatic OP 6 Jan
Yes, in many respects!
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