{"id":318,"date":"2013-11-25T17:25:00","date_gmt":"2013-11-25T17:25:00","guid":{"rendered":"http:\/\/blog.holytransaction.com\/bitcoin-defeats-paypal-thanks-to\/"},"modified":"2022-01-27T15:35:16","modified_gmt":"2022-01-27T13:35:16","slug":"bitcoin-defeats-paypal-thanks-to","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2013\/11\/bitcoin-defeats-paypal-thanks-to.html","title":{"rendered":"Bitcoin defeats PayPal thanks to massive transaction of 194,993 BTC"},"content":{"rendered":"<p>(<a href=\"https:\/\/bitcoinexaminer.org\/bitcoin-defeats-paypal-thanks-to-massive-transaction-of-194993-btc\/\">BitcoinExaminer<\/a>) The end of last week brought a symbolic milestone for Bitcoin. The cryptocurrency network <b>recorded over $447 million in transactions in a single day, topping PayPal and Discover.<\/b><br \/>\nin the amount of daily transactions in US dollars and becoming the world\u2019s fifth biggest payment network. Above cryptocurrency you could only find \u201cgiants\u201d like Visa, MasterCard, China UnionPay and American Express.<\/p>\n<div style=\"text-align: justify;\">However, this number includes what is<b> probably the heftiest transaction ever made in Bitcoin history: 194,993 BTC <\/b>(over $147 million according to the exchange rate on November 22nd), an amount of money that couldn\u2019t be transferred by a system like PayPal, for instance.<\/div>\n<div><\/div>\n<div style=\"text-align: justify;\"><a href=\"https:\/\/www.coindesk.com\/194993-btc-transaction-147m-mystery-and-speculation\/\">According to Coindesk<\/a>, the transaction <a href=\"https:\/\/blockchain.info\/tx\/1c12443203a48f42cdf7b1acee5b4b1c1fedc144cb909a3bf5edbffafb0cd204\">appeared\u00a0on Blockchain.info<\/a>\u00a0early on Friday evening and represents 1.6 percent of all Bitcoins now in circulation.<\/div>\n<div style=\"text-align: justify;\"><a style=\"clear: left; float: left; margin-bottom: 1em; margin-right: 1em;\" href=\"http:\/\/bitcoinexaminer.org\/wp-content\/uploads\/2013\/11\/k8eRmLI.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-4278\" src=\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2013\/11\/btc-volume-transaction-2013.jpg\" alt=\"btc volume transaction 2013\" width=\"434\" height=\"515\" \/><\/a>With the Bitcoiners getting curious, some experts discovered the transaction involved a large number of sending addresses. Some of them were from blocks mined in February 2010 or even earlier. Of course, it\u2019s impossible not to think about Satoshi Nakamoto, Bitcoin\u2019s mysterious founder.<\/div>\n<div><\/div>\n<div style=\"text-align: justify;\">But the transaction is probably just \u201chiding\u201d an early miner or a business moving its cryptocurrency revenue to a secure form of storage. What matters is that, <b>apparently, the Bitcoins weren\u2019t converted into fiat currency<\/b> or the market would have felt the consequences.<\/div>\n<div><\/div>\n<div style=\"text-align: justify;\"><a href=\"https:\/\/www.activistpost.com\/2013\/11\/bitcoin-tops-paypal-for-first-time-in.html\" target=\"_blank\" rel=\"noopener noreferrer\">The Activist Post reports<\/a> that this transfer was operated by one of the world\u2019s largest exchanges, BitStamp. Besides, this same address was used to<b> move a total of $500 million in the last few days<\/b>, <a href=\"https:\/\/www.reddit.com\/r\/Bitcoin\/comments\/1r95ou\/more_money_changed_hands_on_bitcoin_today_than\/\" target=\"_blank\" rel=\"noopener noreferrer\">according to\u00a0a Reddit post<\/a>. After all the excitement, the Bitcoiners around the web started posting their opinions about what really matters, praising the possibilities that Bitcoin offers when it comes to move around large sums of money in an easy and quick way.<\/div>\n<div><\/div>\n<div style=\"text-align: justify;\">Cryptocurrency is definitely growing not only in value, but also in number of users. <a href=\"https:\/\/twitter.com\/blockchain\/status\/404941777917837313\" target=\"_blank\" rel=\"noopener noreferrer\">Blockchain.info announced<\/a> this Monday (25) that <b>70,000 new virtual wallets were created during the last seven days<\/b>.<\/div>\n<div class=\"separator\" style=\"clear: both; text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-4279\" src=\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2013\/11\/blockchain_info-new-wallets.jpg\" alt=\"blockchain_info wallets 2013\" width=\"565\" height=\"334\" \/><\/div>\n<p>&nbsp;<\/p>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>(BitcoinExaminer) The end of last week brought a symbolic milestone for Bitcoin. The cryptocurrency network recorded over $447 million in transactions in a single day, topping PayPal and Discover. in the amount of daily transactions in US dollars and becoming the world\u2019s fifth biggest payment network. Above cryptocurrency you could only find \u201cgiants\u201d like Visa, [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":941,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,468,678],"tags":[1126,1331],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.6 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin defeats PayPal thanks to massive transaction of 194,993 BTC -<\/title>\n<meta name=\"description\" content=\"The cryptocurrency network recorded over $447 million in transactions in a single day, topping PayPal and Discover.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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