[aroch]

Are you really arguing that a pitiful increase of 20K over a year, in a system where every single change in any holdings causes a transaction to occur, is significant for this system? I shudder to think of the reality distortion field you live in.

For sake of argument, let's say that coinbase keeps 100 small, hot wallets around. Every time coinbase rearranges funds in their wallets, they could create between 1 and infinity transactions. If, on average, they rearrange funds daily in such a way that 25 transactions occurs, they would account for 50% of your increase alone.

Given that all exchanges and processors routinely shuffle funds around, and every move is recorded as a transaction, you need exchanges (in total) to make 55 more transactions/day to make up your superduper exponential growth.

20K increase in transactions in bitcoin is no increase in transactions.

[mrb]

Your math is way off. It is 20k transaction PER DAY. 5.9 MILLION transactions were processed in 2014Q2, up from 4.1 MILLION in 2013Q2. That is an increase of 1.8 MILLION!