[Cryptography] What is total world transaction volume?

[Jameson Lopp]

>From some quick googling it appears that there are ~100 Billion credit &
debit card transactions per year. But the real question is how many /cash/
transactions occur? I suspect (globally) it is probably far higher than
electronic transactions.

Given that blockchain-based cryptocurrencies require every validator node
to process the entirety of the network's transaction history, in order to
scale them up to reach mainstream level volumes, more complex layers of
transaction processing need to be built on top of the base layer in order
to achieve sufficient scalability.

- Jameson

On Tue, Feb 7, 2017 at 4:49 AM, James A. Donald <jamesd at echeque.com> wrote:

> Bitcoin cannot replace government money because there is a soft limit on
> the number of transactions, and we are already hitting that limit.
>
> Also because final settlement is a bit slow.
>
> Gold cannot replace government money, because it is easier to transfer
> promises than physical gold, although we may well return to the gold
> standard after the next crisis or two.
>
> What is the total number of credit and debit card transactions, including
> atm transactions, per unit time?
>
> How many transactions would a crypto currency need to handle per unit time
> to replace government money?
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