{"id":124494,"date":"2020-12-02T13:42:16","date_gmt":"2020-12-02T10:42:16","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-moves-500k-around-the-globe-every-second-says-samson-mow\/"},"modified":"2020-12-02T13:42:16","modified_gmt":"2020-12-02T10:42:16","slug":"bitcoin-moves-500k-around-the-globe-every-second-says-samson-mow","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-moves-500k-around-the-globe-every-second-says-samson-mow\/","title":{"rendered":"# Bitcoin moves $500K around the globe every second, says Samson Mow"},"content":{"rendered":"<p>&#8220;<strong># Bitcoin moves $500K around the globe every second, says Samson Mow <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Blockstream\u2019s Samson Mow wants to move the conversation away from Bitcoin\u2019s (BTC) performance in transactions per second and toward its role in ushering in \u201ca new financial paradigm,\u201d that is, serving as a permissionless medium for the store and transfer of value.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> moves nearly half a million dollars in value around the globe permissionlessly every second. It was never about transactions per second and coffee. It&#8217;s all about value transacted per second and a new financial paradigm. <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/VTPS?src=hash&amp;ref_src=twsrc%5Etfw\">#VTPS<\/a> not <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/TPS?src=hash&amp;ref_src=twsrc%5Etfw\">#TPS<\/a>. Nothing comes close to <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/btc?ref_src=twsrc%5Etfw\">@BTC<\/a>.  <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/t.co\/aXfDauPx9b\">pic.twitter.com\/aXfDauPx9b<\/a><\/p>\n<p>\u2014 Samson Mow (@Excellion) <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/Excellion\/status\/1333966283876954113?ref_src=twsrc%5Etfw\">December 2, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Mow\u2019s argument is that \u201cVPTS [value transacted per second] not TPS [transaction per second]\u201d is what really counts.\u00a0Calculations for the video were <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/Excellion\/status\/1333985851819270144?s=20\">reportedly<\/a> made using on-chain data by the <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/medium.com\/@notgrubles\/about\">editor<\/a> of the Blockstream engineering blog, who goes by \u201cGrubles\u201d on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>. The editor similarly tweeted that \u201cBitcoin scales just fine. 1 BTC can store an infinite amount of value.\u201d<\/p>\n<p>The video, according to a\u00a0<a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/Excellion\/status\/1333983333932384258?s=20\">follow-up tweet<\/a>\u00a0from Mow, \u201cwas inspired by a stupid XRP marketing video comparing their sh*tcoin\u2019s TPS [transaction per second] to Bitcoin\u2019s.\u201d<\/p>\n<p>\u00a0Blockchain.com data\u00a0<a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.blockchain.com\/charts\/estimated-transaction-volume-usd\">shows<\/a> that\u00a0as of Dec. 1, the total estimated value of transactions on the Bitcoin blockchain was estimated at $4.627 billion. This figure hit $5.15 billion, close to its all-time-high, on Nov. 5.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/e09fb9e5-c308-41f8-bfd8-1cc73f35d119.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Total estimated value of transactions on the Bitcoin blockchain, 2008\u20132020. Source: <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.blockchain.com\/charts\/estimated-transaction-volume-usd\">Blockchain.com<\/a><\/em><\/figcaption><\/figure>\n<p>TPS has long been presented as a purported Achilles heel for Bitcoin, whose capacity maxes out at a lower threshold than competitor coins like Ether (ETH). This is notably the line taken by Bitcoin Cash (BCH) evangelists like Roger Ver, who tout the asset as a better currency for retail adoption in small-scale transactions.<\/p>\n<p>Mow\u2019s line on Bitcoin has been consistent, arguing that those who are interested in everyday transactions can use second-layer solutions like the Lightning Network. Bitcoin in itself, he says, has an altogether different purpose:<\/p>\n<blockquote><p>\u201cIt\u2019s more of a store of value and a medium of wealth transfer. It\u2019s not something you would use every day in payments. I\u2019ve said this before, and people have twisted around and said I hate Bitcoin, but Bitcoin is bad for payments.\u201d<\/p><\/blockquote>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener noreferrer\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-moves-500k-around-the-globe-every-second-says-samson-mow\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin moves $500K around the globe every second, says Samson Mow &#8221; Blockstream\u2019s Samson Mow wants to move the conversation away from Bitcoin\u2019s (BTC) performance in transactions per second and toward its role in ushering in \u201ca new financial paradigm,\u201d that is, serving as a permissionless medium for the store and transfer of value&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":124495,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/77261d74-61a0-4155-880d-368976113c1d.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,75163,76276,81852,74863,82450,76845,80225,75557,4965],"class_list":["post-124494","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-cash","tag-bitcoin-payments","tag-blockstream","tag-cryptocurrencies","tag-micropayments","tag-p2p-payments","tag-value","tag-xrp","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/124494","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=124494"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/124494\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/124495"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=124494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=124494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=124494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}