Bitcoin Transferred $11 Trillion Since 2009 According to New Data
By Tyler Smith – Crypto Investor
Since its inception back in 2009, the Bitcoin network has transferred over $11 trillion in wealth, according to new calculations. Buying Bitcoin has seen enormous interest over the past decade.
$9.6 Billion a Day
The latest buoyant statistics for buying and selling Bitcoin, that were uploaded to social media by analyst PlanB on Oct. 24, reveals that the largest cryptocurrency is still outpacing fiat currencies.
The network is making around $9.6 billion a day as of this writing. At this rate, Bitcoin is sure to pass PayPal’s annual transaction volume which amounted to $578 billion for 2018, in about 2 months. This suggests health and usability on the network and could encourage more to buy Bitcoin.
To verify the transaction data, PlanB used their Bitcoin full node. The numbers underscore the present interest in Bitcoin, which comes in spite of the bearish price action in the second half of 2019.
Can BTC Pass Mastercard and Visa in 10 Years?
Beating major fiat alternatives like MasterCard and Visa is nothing new for Bitcoin. In April, CoinTelegraph reported that buying Bitcoin to use for transacting could likely overtake the fiat payment heavyweights by 2029. For Bitcoin to achieve this the network would still need to overcome issues in scalability.
Analysis firm DataLight said, “In just 10 years, Bitcoin has managed to compete with the leaders of the payment system industry. Bitcoin’s development is occurring exponentially.”
With the development of off-chain scaling solutions like the Lightning Network bringing new advances, Bitcoin is likely to experience less and less activity on the blockchain. When a user is Buying crypto, it does not necessarily need to be included into a block but transacting to another wallet will require it. Commentators noted that it should ensure current block sizes can cope with demand.
If you seeking to buy Bitcoin UK from a trusted Bitcoin broker, then head on over to our platform.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards