Quote from: Xavofat on April 16, 2018, 02:41:24 PM

The Russian ruble and British pound are used for many millions of transactions every day, far more than the amount of transactions that Bitcoin is used for.

They also have economies that are entirely reliant on them, while Bitcoin is only used (as a currency) by a very small fraction of the population, hence why most merchants don't accept it.

Bitcoin isn't comparable to these major world currencies.

Yeah but this is looking at total in circulation, not total being transacted every day. Those are two different stories altogether.

Do these numbers account for the amount in virtual circulation? Because fiat currencies are about 10x larger if so. The fractional reserve system allows banks to create money out of thin air. Every $10 put in they can lend $9 out to another client and make more money off of that. So in comparison, bitcoin's market cap might be much smaller.