MartyBent on Nostr: There's a lot of debate about whether or not bitcoin is currently scaling ...
There's a lot of debate about whether or not bitcoin is currently scaling appropriately and I think many are missing the forest for the trees. Particularly when you benchmark bitcoin's success to Fedwire, which is the correct apples to apples comparison.
Matthew Meźinskis and I recorded this morning and Matthew presented these two charts and I think they may be the most bullish bitcoin charts I've seen in years.
Bitcoin's trailing 12-month transaction volume and value compared to Fedwire.
When you factor in batched transactions, bitcoin is already facilitating almost 2x the amount of transactions that Fedwire is on a trailing 12-month basis.
In terms of value settled on the bitcoin network, it still has a ways to go to reach parity with Fedwire, however the trend has been a consistent and aggressive march toward parity, with the Fedwire value transfer being 22,000,000,000x in 2010 and ~800x as it stands today.
If you dive into the numbers and compare bitcoin to its base money competitors, it is scaling incredibly well.
Listen to the full rip here:
https://www.youtube.com/watch?v=eilZmefD4Z4Published at
2024-02-21 18:46:01Event JSON
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"content": "There's a lot of debate about whether or not bitcoin is currently scaling appropriately and I think many are missing the forest for the trees. Particularly when you benchmark bitcoin's success to Fedwire, which is the correct apples to apples comparison.\n\nMatthew Meźinskis and I recorded this morning and Matthew presented these two charts and I think they may be the most bullish bitcoin charts I've seen in years.\n\nBitcoin's trailing 12-month transaction volume and value compared to Fedwire.\n\nhttps://m.primal.net/HeJc.png \nhttps://m.primal.net/HeJd.png \n\nWhen you factor in batched transactions, bitcoin is already facilitating almost 2x the amount of transactions that Fedwire is on a trailing 12-month basis.\n\nIn terms of value settled on the bitcoin network, it still has a ways to go to reach parity with Fedwire, however the trend has been a consistent and aggressive march toward parity, with the Fedwire value transfer being 22,000,000,000x in 2010 and ~800x as it stands today.\n\nIf you dive into the numbers and compare bitcoin to its base money competitors, it is scaling incredibly well.\n\nListen to the full rip here:\n\nhttps://www.youtube.com/watch?v=eilZmefD4Z4\n",
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