Replying to Avatar Guy Swann

By my calculations it’s not even near 1%

Fedwire settles ~1,200 trillion every year, but Bitcoin only settled about ~3 trillion last year excluding same wallet and known exchange internal movements (according to a basic Glassnode metric I was looking at)

Making Bitcoin settlement only about 0.25% of Fedwire

But otherwise yes

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Lyn Alden 7mo ago

I referenced the larger volume figure in this case, since intra-entity UTXO consolidations and privacy-related hops are a long-term part of network functionality in terms of taking up some block space. That puts it a little over 1% of Fedwire, as least the last time I ran the numbers which was 2 years ago. Presumably if there are 10x as many entities using on-chain bitcoin in the future, there will be roughly 10x as much demand for intra-entity UTXO consolidation and privacy hops and such as well.

But yeah on a strictly inter-entity basis, it' s notably less than 1%.

My 2-year-old numbers:

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