Episode 87 of the Wild West Crypto Show got off to a great start by highlighting the ‘Highest Hourly Transaction in Bitcoin History’. Halfway through the show, hosts Drew Taylor and Brent Bates discussed the news which, in a sign of the times, was disclosed in a tweet. Rafael Schultze-Kraft, the cofounder of on-chain market platform Glassnode, tweeted on December 4: “$8.9 billion in #Bitcoin were moved on-chain in a single hour this afternoon. It’s the highest hourly USD transaction volume in Bitcoin’s history” (http://ccw.fm/U1Ecw).
The great money-transfer services must be quaking in their boots. If transferring $9 billion costs less than a dollar, how can they justify $15 for the typical person-to-person transfer of $300. The global average cost of transferring money, including transaction and foreign exchange fees, is approximately 5% of the…
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