On: Contributing to WebSockets – Cryptocurrency Users

[arcticbull]

Not really. A lot of that was just exchanges sending the same coins back and forth to each other. Centralized exchanges that are permission, censorable and potentially even fractionally reserved. This is only happening because the L1 is so utterly inadequate people can’t use it.

This volume isn’t at all comparable to the actual usage Wise sees.

[koheripbal → arcticbull]

You have no idea why those money transfers happened either on BTC network or Wise system.

You are making a baseless assumption on the intent of transfers to push an argument without merit.

[arcticbull → koheripbal]

Ok so in that case the null hypothesis is that they’re not the same and it is actually up to parent to justify the similarity and comparability of the flows.

[jcbrand → arcticbull]

The quoted amount transferred is onchain, not offchain.

It's all L1.

[arcticbull → jcbrand]

I’m aware but they’re just net settlement roll ups of actual transactions happening off chain. And likely just wash trades and arbitrage at that, not transactions of actual economic utility.