| Wow. Ok, where to start. For one, this is why reading articles and doing your own research (DYOR) is so important. That headline, which is attributed to NYDIG, a crypto proprietor, isn’t actually sourced anywhere else. Gemini, the Winklevii crypto exchange, places the number substantially lower. Given that Coinbase has had a maximum of 8.8 million monthly active users, which is going to put us within spitting distance of the true number, suggests the true figure is much much lower. Additionally, speculating on bitcoin’s price on an exchange does not mean you’re utilizing the network (hell, you don’t even need actual bitcoin to do this, futures will do). But this is what the overwhelming majority of people do with bitcoin. So the real question is how many people use the bitcoin network to transfer bitcoins. This is what POW enables. Do I believe that 10m are sending bitcoin to each other? No fucking way. Much much lower. So yeah, 10m seems conservative even if the assumption is poorly worded (network users vs coin holders). |