Blockchain Bitcoin surpassed PayPal in the total value processed during the year transactions. Leaders for this indicator are (in ascending order) of the payment system Master Card, Visa and UnionPay. Relevant data were collected and visualized cryptocurrency analyst ARK Invest Yassin Elmandjra (Yassine Elmandjra).
According to the expert, for the current year, the Bitcoin network has processed the transfer, in the amount of the components of the $1.3 trillion (the rate for 22.08.2018). He stressed that the cryptocurrency is much inferior to many payment systems and platforms by the total number of operations for the calendar year, thus providing a circulation of larger sums:
“Pay attention to [the total] *value* of transactions, not the *volume*. Last year BTC was processed daily for $3-$4 billion […] Average cost volume of transactions in BTC only in one large order from Visa”.
While maintaining the annual increase in the cost 80,17% (average taken over the period of 2013-2018), it is expected that BTC will surpass Visa in this indicator in 2022. In this case the predicted level of value of turnover exceeds $13 billion.
In the thread under the tweet Elmandjra users spoke out against the comparison, as a certain proportion of this amount was formed as a result of speculative trading.
A catalyst for growth in the value of BTC transactions can be technical problems with the payment systems. Thus, the June failure of the Visa sparked a lively debate about the merits of cryptocurrencies.