Bitcoin Still behind Fiat Counterparts by Volume
Bitcoin, despite an upward dash, was behind its fiat counterparts by volume. Bitcoin is to end 2016 on a high note as it will probably finish as the top performing currency of the year. A title that it will retain from the previous year. The Bank of International Settlements (BIS), which is an international financial institution that is owned by the world’s central banks, does not consider something like bitcoin in its triennial reports. According to the Bank of International Settlements (BIS) survey, U.S. Dollar was the most traded currency by value in 2016. The US Dollar was followed by....
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2014 is the end of Bitcoin's sixth year. Analysts at the Coin Cadence Bitcoin Index compiled Bitcoin's transaction data for the past six years. In 2014 Bitcoin Transaction Volume Doubled; growing 45.5%. Apparently, fake transaction chains could account for up to 50% of this network traffic. Critical minds in the community are quick to point out the pros and cons of using transaction volume as a metric for growth. Primarily, that a transaction can be "fake" if sending coins back to yourself to no economic end. Effectively, its taking money from your left pocket and putting it in your right.....
Apparently the financial voice for baby boomers (those born post World War II), Neale Godfrey has a poke at describing fiat and bitcoin, and differences via a Forbes article. Neale starts with the explanation that the fiat she is referring to is not the model of car. And to be fair, most people in this generation and the last do not have an understanding of what fiat in the monetary sense is. Fiat is commonly referred to as paper money, centrally controlled and inflatable to infinity. Usually created by a government and defined as the countries legal tender and the means to pay one's....
The Bitcoin Transaction Volume is Dropping. Bitcoin transaction volume is dropping. Yesterday the transaction volume dropped to the lowest since 2011. Only 69,152 BTC were traded. What does it mean? Looking at the data, taken from Blockchain, we can see a clear decline in Bitcoin volume since November/December of 2013, when the Bitcoin volume was at 345,628 BTC with a peak in the middle of March with 441,337 BTC. Looking at the same volume chart, but this time showing volume in USD, the transaction volume yesterday was at just over $30 Million. We must be aware of the drop in Bitcoin price....