Illegal trade accounts for less than 3% of the total Bitcoin transactions-blockchain
Illegal trade accounts for less than 3% of the total Bitcoin transactions-blockchain
make illegal transactions, fraud and gambling together less than 3 % of the volume of the Bitcoin blockchain, while stock exchanges and merchant tables make up around 80 % of the volume.
stock exchanges dominate the Bitcoin volume
a new Learn called "b Bitcoin market “ found that illegal transactions, fraud and gambling together only make up 3% of the total Bitcoin trade volume in the chain. On the other hand, the study claims that the stock market and trade-related volume- which is usually speculative- constitutes about 80 % of the total volume.
In their analysis, the authors of a report published by the National Bureau of Economic Research (NBER) seem to refute the claim that illegal transactions dominate Bitcoin ( btc ) trading volume. In particular, authors Igor Makarov from the London School of Economics and Antoinette Schoar explain from the with Sloan School of Management how likely earlier studies probably overestimated the economic value of illegal trade.
In order to support their argument, the two authors refer to a study from 2019, which came to the conclusion that more than 46 % of the btc transactions due to illegal transactions. The authors found:
First have foley et al. (2019) deliberately delete all stock market -related volumes from your calculations because you only want to concentrate on payments for goods and services. Since we have shown above that trade is the main activity on the blockchain, this choice changes the denominator.
In addition, the authors said that the estimate of the volume is based on a subordinate network of illegal clusters, in which each cluster is recursively considered illegal if the majority of its transactions are made with previously identified illegal clusters.
driver of Bitcoin volume and value
Although the two authors agree that this method is attractive, they argue that they “do not distinguish between real users and short-lived passport-through clusters that only exist to disguise the tracking”.
In contrast to the method used in the 2019 study, Makarov and Schoar Börsen, Over-the-Counter (OTC)-Desks or Trading Desk Data relate to the calculation of the not false a target = "_ Blank" Class = "LAR-Automated-Link" href = "https://markets.bitcoin.com/crypto/Btc" rel = "noopener"> btc volumes. As a result, the two authors come to the conclusion in their analysis that the stock market and trade-related volume is about 80 % of the total volume, while other known units are only responsible for a small part of the total volume at the end of 2020.
While Makarov and Schoar pointed out in their report that they agree to the general concern about the pseudonymous nature of Bitcoin transactions, but they insisted that it is “important to correctly determine the extent of transaction activities in order to understand what the ultimate instinctive forces are from Bitcoin”. Worth. "
Do you agree to the conclusion of this study on the scope of illegal transactions on the Bitcoin blockchain? Tell us your opinion in the comments below.
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