Quote from: BC12345 on November 10, 2012, 08:59:26 PM

Quote from: ElectricMucus on November 10, 2012, 08:38:13 PM

Quote from: niko on November 10, 2012, 07:12:46 PM

SR volume is a tiny fraction of Bitcoin economy. There are convincing estimates based on the academic study of SR published about four months ago.

I call bullshit on that. If you were writing the truth you'd cite that study in detail. But you didn't.

I am not saying that the first statement is correct but I think maybe he was referring to this

http://arxiv.org/pdf/1207.7139v1 (chapter 5.2 "Transaction volumes")

paper.

Thanks.
I can also see why it wasn't cited, nobody with a straight mind would seriously consider the total transaction value of the Blockchain to be trade economic activity. And according to that paper SR even has 5-7% of that.
You can easily double that if you consider that people have to buy the bitcoins somewhere, triple it if you consider that the wares are usually bought for fiat the first time and then double to triple that figure again to account for mixing.

It's obvious that SR accounts for the majority of real economic activity even by that paper as it is obvious any bitcointalk member sharing the "bitcoinsm" philosophy will deny it whenever possible. Even to the point of purposefully misinterpreting the facts.