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0 pointsfaeriechangling3y ago0 comments

So we should ignore that crypto is being used a fraction of the time as much as financial products that are worth several times less, because global markets are large? Should every product have a 1 trillion plus valuation because global markets are large?

I just never actually see evidence that crypto has taken over global finance or is well on its way to doing so.

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nostrademons3y ago

The point is that it's not being used a fraction of the time, because you take small fraction of total humans on earth (7B+) and it's a larger number than a large fraction of total humans in the US (320M). There are 100M crypto users in India, for example - that's only about 7%, but 7% of 1.5B is a larger number than 11.8% (market share of JP Morgan Chase, the largest U.S. bank) of 320M. Worldwide, crypto users are about 3% of the total population of most countries - but the U.S. as a whole is only 4% of the global population, so 3% of a global market is the same size as 75% of the U.S. market.

dmitriid3y ago

I have a wallet and bought crypto once. Am I a user? By your statistics, yes. Do I even matter? No.

The only thing I used this crypto for is to sell it later (and gain something like 15 euro profit). Am I a user? By your statistics, still yes. Do I even matter? Still no.

Additionally this use case (trade crypto hoping for gains in actual fiat money) is the absolute vast majority of what crypto is used for. Is this replacing traditional finance? Ahahahaha, no. AliPay has a bigger impact on "traditional finance" than all of crypto now or ever.

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