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Bitcoin overtook PayPal and Western Union in terms of transaction volume for 2018
Satoshi Capital Research cryptocurrency hedge fund recently made a statement that Bitcoin (BTC) is not just a global currency, but also a global payment system, saying that in 2018 the volume of BTC transactions exceeded 3.3 trillion US dollars, which is six times more than PayPal and 16.5 times more than Western Union.
On the other hand, in the crypto community there are many different points of view, among which there are those who consider the technology on which Bitcoin is built obsolete and its advantage in the first place is to use only as a means of preserving value.
So says the Swiss Bank for International Settlements (BIS), making the statement that Bitcoin problems can only be solved by abandoning the Proof-of-Work (PoW), otherwise this outdated block processing mechanism will lead to the death of the main cryptocurrency.
Take for example the Ripple network, where transactions are much faster and cheaper than bitcoin, but there is reason to believe that XRP is not decentralized, which makes it unsafe from the point of view of saving funds, although it is definitely able to find its user.
Over $ 3.3 trillion was sent using #bitcoin in 2018, more than 6x the volume sent using Paypal.
BTC is not a serious global payment system. pic.twitter.com/o4Tb2EFUUw
– Satoshi Capital Research (@chartingbitcoin) January 22, 2019
Despite the diversity of opinions, one of the best things here is the lack of borders and Bitcoin allows you to carry out transactions without being censored compared to PayPal, which has many restrictions, for example, where in Africa or even in Europe there are countries that are forbidden to accept payments through the system and it is not surprising that Bitcoin is becoming more popular.
At the same time, PayPal conducts a cryptocurrency experiment, creating a motivational blockchain platform for its employees within the company, where employees can access their tokens through the company's internal website and earn them by participating in various innovative programs and contributing ideas.
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