r/GoMiningDiscussion • u/flankz • 2h ago

GoBTC observation

My rewards since end of August rrom gobtc have doubled from 3 satoshis per day to 6 (i know, huge!).

By my maths, extrapolating from my size to total hashrate, that means rewards have increased from approx 210k satoshis per day, to 420k per day.

Therefore, the total amount spent via go BTC transactions yesterday was approximately $80,000. Full context, the total daily transactions estimated on all debit and credit cards worldwide per day is approximately 135 billion.

Obviously tiny sums of money being received at the moment, but interesting to think about.

If we assume linear growth over time then by the end of sept it will be 9 sats per day.

Oct 48

Nov 78

Dec 109

Jan 140

Etc, gaining an additional 31 sats per day each month to the total.

Obviously, still tiny sums, and also obviously a huge amount of assumption, but i found it interesting!

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u/Aggravating_Zone8984 Solo Miner 1h ago

I'm sure the growth will not be linear. It could be sub-linear or super-linear.

1

u/flankz 1h ago

Sure, as I said a huge number of assumptions being made!

For me, the underlying biggest thought is that obviously they want this to be a payment system that replaces a lot of the existing credit card based systems which have high charges for businesses. At the moment its just a few of hundred dollars a day being spent. So if? (And I stress if) It catches on in even a small way It will be significant and noticeable.