Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Shit. Someone quoted you and I saw another one of your idiotic answers.
Bitcoin market cap: $7B
Credit card fraud just last year alone: $11B
Fact: more money is lost in a single year due to credit card fraud.
And concerning your further idiotic estimates, it doesn't matter how much Bitpay claims to process. Bitpay is one very small piece of the bitcoin world. blockchain.info estimates nearly 100 million processed per day. And that's only counting actual on-chain transactions. There are countless more off-chain transactions. Your 400 million per year is just more of your bullshit. It's more like 100x that much.
Someone please correct me if I am wrong here, but I think the 100million/day figure includes change outputs from transactions. This means if I send you 2mBTC but my smallest available output is 20BTC the transaction will register as roughly 10,000$ of value transferred, instead of 1$ (assuming a price of 0.5$/mBTC). Also because Bitcoin is pseudonymous there is no way to tell how many of these transactions are between different wallets controlled by the same entity.
But your main point stands, of course.
EDIT: just noticed my currect activity level reads as if it's giving me a suggestion
