The US dollar is deeply entrenched in global financial plumbing. For now, the notion of China or Russia imminently dethroning it is a far cry from reality.
Good note, absolutely agree. I'd be interested to know where you get your figure of US$8 trillion transacted over the Bitcoin network in 2022. We've been measuring the data at ByteTree.com since 2014 and have the number at around US$1.3 trillion...
Thanks for replying, Nik. You might be interested in this note from 2021, which highlights the difficulty of getting this correct, despite the fact it's an important number in determining how bitcoin is valued relative to its past. You can see we were right at the time that BTC was very overvalued. https://bytetree.com/research/2021/09/bitcoins-valuation-problem-and-the-flaws-in-the-data/
Good note, absolutely agree. I'd be interested to know where you get your figure of US$8 trillion transacted over the Bitcoin network in 2022. We've been measuring the data at ByteTree.com since 2014 and have the number at around US$1.3 trillion...
using this https://twitter.com/lopp/status/1609540199146561543
Thanks for replying, Nik. You might be interested in this note from 2021, which highlights the difficulty of getting this correct, despite the fact it's an important number in determining how bitcoin is valued relative to its past. You can see we were right at the time that BTC was very overvalued. https://bytetree.com/research/2021/09/bitcoins-valuation-problem-and-the-flaws-in-the-data/