BITCOIN USAGE TRAMPLES VENMO

in bitcoin •  3 months ago 

As Morgan Creek Digital co-founder Anthony Pompliano noted on social media April 17, Bitcoin’s ‘on-chain’ transaction volumes grew to $7 billion per day earlier this week.
⠀⠀
Those figures came purely from standard transactions, not those done ‘off-chain,’ for example via the Lightning Network.
⠀⠀
By contrast, Pompliano notes, some fiat-based networks handle significantly less – and could even lose out to Bitcoin as it advances.
⠀⠀
Specifically, PayPal’s Venmo, which offers database-powered instant transactions and near-zero transaction fees, moved $62 billion in value last year.
⠀⠀
This means that in one day, Bitcoin achieved 11 percent of the company’s annual volume. ⠀⠀

Posted using Partiko iOS

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!