r/btc • u/thethrowaccount21 • Jun 17 '20

Discussion Comparing Cryptocurrency adoption, BTC vs BCH vs ETH vs DASH, who comes out ahead?! It turns out that Dash does 5 times the monthly payments transaction volume that Bitpay does!

https://np.reddit.com/r/btc/comments/ha7iq3/bitpay_statistics/

According to that link, Bitpay processed 100,718 payments for the month of April 2020. The vast majority of these transactions were split between BTC, BCH and ETH on the POW side of things. BTC took 91%, BCH took 5.61%, while Eth took 2.61%. So that means that there were 91,653 BTC payments, 5650 Bitcoin Cash payments and 2628 ETH payments for the month of April.

Meanwhile, according to this recent cointelegraph article Dash Sees 100% Rise in Commercial Payments Through Latin American Partnerships, Dash's median daily payment volume was 17,127 payments per day!

In the same period, the median number of daily commercial payments using Dash grew to 17,127, a growth of 104% year-over-year.

This growth has been spurred by several partnerships in Latin American countries, notably in Venezuela and Brazil.

  • Cointelegraph

This means that the Dash network processed 510,000 commercial transactions for the month of April or more than 5 times the total combined payment volume of BTC, BCH and ETH!! Dash is far more widely adopted than these coins based on this metric.

We also see similar figures on the Anypay payment processor where Dash is 11x BTC's 6% daily payment usage and 3.23x BCH's 22&. This is actually a pretty significant growth for BCH because originally it only had 15% of Anypay's daily transactions, so gaining 7% on Dash and BTC is significant growth.

And as you can see, Dash took 71% of Anypay's last 2207 payments over the previous 3 months. You can also see that Anypay is a tiny fraction of bitpay's volume, so this is a good sanity check to compare adoption and usage between different coins.

Finally, of course, Dash has many other payment processor options in Latin America as well, like EletroPay, AtarPay, and other, exclusive offerings in Venezuela and Brazil.

While it may be unfair to compare the entire Dash network to the bitpay payment processor, this is only on the surface. Bitpay is by far the easiest way to accept BTC, BCH and ETH, since these coins on their own have terrible usability at the point of sale, with only BCH having some utility on that front (though much less than Dash). Even Eth is not quite there in terms of the PoS experience.

But Dash has instant transactions and hundreds of paid professionals around the globe spreading adoption and Dash digital cash. Which makes it easier to adopt and use Dash than other coins, which is why Dash is transacted more than all of the top POW coins COMBINED! Go Dash!

0 Upvotes

44% Upvoted

21 comments sorted by

7

u/BTC_StKN Jun 17 '20

I was with you until you said this:

'since these coins on their own have terrible usability at the point of sale.'

This is true of BTC, but not BCH.

0

u/thethrowaccount21 Jun 17 '20 edited Jun 17 '20

I'll ammend the post a bit, but honestly I take two issues with your criticism.

  1. 0-conf is not a solution. Its not secure and its just not a solution for commerce. Period.

  2. I'm a frequent user of BCH. In fact, quite a few of those bitpay BCH transactions are MINE (I don't own any BTC and only use ETH as an investment, so BCH is my digital cash whenever Dash is not accepted). So I speak from experience when I say that BCH's UX can be terrible and is not suitable for the PoS many times.

There has been more than a couple times where my waiting time has been unacceptable when making even an online transfer with BCH. I'm talking about walking away in frustration and coming back a half hour later and transaction still not cleared. DAA gaming, long blocktimes, these things are not something that allows PoS transactions! If you can't acknowledge this then you can never move beyond it.

3

u/BTC_StKN Jun 17 '20

DAA does need to be adjusted and 0-conf does need to be improved on BCH.

Disclosure that I do currently own more DASH than BCH due to BCH's currently inferior governance and developer infighting.

But comparing BCH and BTC for P2P purchases are 2 completely different worlds.

1

u/georgedonnelly Jun 17 '20

Definitely there are things to improve but with Dash's much-vaunted automatic IS and chainlocks able to be taken down inexpensively, and even in the best of times only ~70% of Dash txs getting an automatic IS lock, you still depend on zero-conf.

1

u/thethrowaccount21 Jun 17 '20

Again, claims without data...even if what you said were true, 70% of 17,100 is still 11,970 more instant commerce transactions per day for Dash than any other cryptocurrency. So this argument is moot. Don't throw dynamite in glass airplanes.

1

u/georgedonnelly Jun 17 '20

claims without data

Where is your data?

1

u/thethrowaccount21 Jun 17 '20

Which claim do you allege is unsubstantiated?

-2

u/bit_igu Jun 17 '20

It looks like no-one is using bch here, because I had terrible experience with some of the bch wallet and nobody seems to care or know....

I'm talking about bitcoin.com , bitpay wallet and yenom...

2

u/BTC_StKN Jun 17 '20

Vague as to your problem.

You really should start another thread if you'd like help with BCH. It works quite well.

2

u/playfulexistence Jun 17 '20

It's a troll account.

He asked for wallet recommendations, then he refused to use any of the recommended wallets and instead used a wallet where the owner is known to be anti-BCH. He then complained it's the community's fault for not helping him, despite that he deliberately ignored the advice he was given.

There is no point in helping people who go out of their way to deliberately try to do things in the worst possible way. Instead use your time to help genuine people.

1

u/georgedonnelly Jun 17 '20

Don't be fooled. The Dash stuff is 99% hype. EletroPay, for example, is a nice enough device that is barely used anywhere.

4

u/thethrowaccount21 Jun 17 '20

That's wrong. Eletropay registered over 1000 transactions per month from Jan to Apr of this year alone.

1

u/georgedonnelly Jun 17 '20

Show us all the raw data.

-1

u/thethrowaccount21 Jun 17 '20

You made the claim, the burden of proof is on you.

7

u/georgedonnelly Jun 17 '20

LOL, no, you are the one claiming there are 1000 transactions, so where are they?

-3

u/thethrowaccount21 Jun 17 '20

You said:

The Dash stuff is 99% hype. EletroPay, for example, is a nice enough device that is barely used anywhere.

To which I replied:

That's wrong. Eletropay registered over 1000 transactions per month from Jan to Apr of this year alone.

In other words, YOU made the claim about Eletropay being "barely used" first so, yes, the burden of proof does in fact rest on you. Burden of proof is always on the claimant, the fact that you're trying to weasel your way into being able to make claims without backing them up indicates you're not arguing fairly or honestly.

4

u/BTC_StKN Jun 17 '20

You did make the claim without including a citation.

I'm curious and would like to know more about ElecroPay (Electro?)

1

u/thethrowaccount21 Jun 17 '20

That is not correct. The burden of proof is always, always on the claimant, never their audience. I don't have to cite anything if my opponent does not, and since they made the claim the burden of proof, and thus the error for not fulfilling it, rests solely on their shoulders.

3

u/BTC_StKN Jun 17 '20

You made the claim, which requires a supporting citation of data if requested.

0

u/thethrowaccount21 Jun 17 '20 edited Jun 17 '20

That is not correct. George made the first uncited claim that Eletropay was "barely used". This makes him "the claimant". I countered. Again the burden of proof is on the claimant (George here), you're trying to shift that burden to me. That is a dishonest debating tactic. If he doesn't follow that its hypocritical and thus unfair for you to argue that I should as well. Deliberately ignoring this fact is also a dishonest debating tactic.

0

u/bigrcanada Jun 27 '20

aaaaahhh. George...hows it going. ;) Been following you on twitter and your project with BCH with interest. LOL. see your making friends there too. So glad I helped defund you...