An excerpt from nostr:npub1guh5grefa7vkay4ps6udxg8lrqxg2kgr3qh9n4gduxut64nfxq0q9y6hjy's Marty's Bent that you should take a look at:

"These are two of the most bullish charts I have ever seen. They highlight that bitcoin is not merely competing with its base money competition, but it is already out-competing Fedwire. Let's take a look at the charts.

Here we have a chart of the trailing 12-month payment volumes on bitcoin and Fedwire. In 2023, Fedwire averaged ~530,000 payments per day and the trailing 12-month volume was 193,316,782 payments. Bitcoin almost doubled that volume with 367,044,946 payments over 2023. Matthew's calculations take change outputs out of the equation. When you spend bitcoin you make two transactions if you don't spend the full UTXO; one transaction goes to the person you are transacting with and another goes to a change address associated with your wallet. The change address address transaction isn't really an economic transaction, so it is taken out of the dataset. This chart would make bitcoin look more dominant than it already is if those transactions were included.

Here's the chart of the 12-month trailing transfer value of Fedwire and bitcoin with the Fedwire supremacy ratio overlaid on a log scale. As you may imagine, at the current moment, the amount of value that Fedwire transfers and settles far exceeds the amount of value settled by the bitcoin network. Last year Fedwire transferred $1.083 quadrillion while bitcoin settled $1.36 trillion. Put another way, Fedwire moved almost 1,000 times more value in 2023. A wide gap to fill!"