Quote from: bitmover on April 26, 2020, 10:52:35 PM

When you buy a coffee with bitcoin, that volume doesn't show up in coinmarketcap or whatever website. This reported volume is only for exchanges volume, this has nothing to do with blockchain transactions.

While this is true, the number of Bitcoin transactions in comparison to the trading volume on exchanges is still small. It's about 500 million to 2 billion USD per day, which is less than 3-5% of the volume on exchanges. We could add LN transactions (which we can't measure that easily) but there is still no real boom on LN, so I guess these transactions don't really add much volume.

In the case of fiat currencies, in addition to the already high forex trading volume, a high volume of daily trades to goods and services of all kinds is carried out. And even more important: a merchant only in exceptional situations (mostly in countries with major inflation) will change the price of a good once or more every 24 hours. This adds a lot of stability.

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Only USD is considered really a safe haven, maybe euro. The rest of the 100 fiat currencies out there are really not a safe haven. The currency of my country just lost about 30% value against USD in this corona virus crisis.

This may be true in some cases, but even very inflationary fiat currencies (ARS, VEF ...) are normally moving much less erratic than Bitcoin: they move often only down, and by a slight percentage per month (in the case of the ARS the depreciation is about ~2-3% per month). The corona crisis is also a heavy-impact event which doesn't occur every year.

I think however that Bitcoin should aspire to deliver better numbers, eventually, than weak fiat currencies.

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Bitcoin still can't really count with that advantage. If you sell >100 BTC often you already move the price.

I strongly disagree with this, and all data provided by all websites like coinmarkecap shows exactly the opposite: We have a daily 46 billion usd volume, which is like 4,267,041 BTC daily!![/quote]
Yep, compared to the total volume 100 BTC seem not to be so much ... but what I wanted to say is that you can significantly move the price with a major market sell order on a single major exchange.

I just looked at the Bitstamp order book: if you sell a market order of 100 BTC you will lower the BTC/USD price about 55 USD (from ~7770 to 7715). This is an 0,7% move, which I consider already significant. You can say now that most people would place a limit order, but in forex markets you would need much more volume to move even 0.1%. And if this 100 BTC market sale occured at Bitstamp, chances are that due to arbitrage on other exchanges it also would drop. With a bit more (200-300 BTC) you can already start a micro-panic. (Not considering that we're currently in a slightly bullish phase and order books are thicker than usually on the bid-side).

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Well, we can agree that we disagree. Wink

OK, here I think I agree