Bitcoin vs Swift

Crypto has been in the news a lot the past year, but now traditional banking is too since SWIFT is cutting off Russian banks.  So I've been comparing them on the metrics:


SWIFT [1]

 - Moves ~50M transactions/day [3]

 - Totaling ~$5T/day [4]

 - Connects ~11k banks globally [1]

 - 50% $, 30% €, 5% £ [5]

 - $60T+ global supply [6]


Crypto [2]

 - Moves ~10M transactions/day [7]

 - Totaling ~$50B/day [8]

 - Connects ~15k nodes globally [9]

 - 40% ₿, 20% Ξ, and many others [10,11]

 - $2T global supply [10]

 - 320M wallets (2022) [15]


There are also other traditional networks [1], like China's CIPS that connects ~1k banks globally, and Russia has its own as well, the SPFS; bet that’s coming in handy.


Crypto also has other majors like Ether, Ripple, Cardano. [10,11]

But while SWIFT is almost completely dark (unless you’re the NSA, Snowden claims), you can watch BTC rain down live [12] or go create your own [13].

Crypto looks surprisingly strong!

SWIFT still has the most highbrow newsletter though.. [14]


[1] https://en.wikipedia.org/wiki/SWIFT

[2] https://en.wikipedia.org/wiki/Cryptocurrency

[3] https://www.swift.com/about-us/discover-swift/fin-traffic-figures

[4] No solid citation.. this was linked around the net,  but docs have been redacted.

[5] https://www.swift.com/swift-resource/19186/download?language=en

[6] https://en.wikipedia.org/wiki/Money_supply

[7] https://data.bitcoinity.org/bitcoin/tx_count/all?t=l

[8] https://data.bitcoinity.org/markets/price_volume/all/USD?r=month&t=lb&vu=curr (I think?)

[9] https://bitnodes.io/ and https://bitnodes.io/nodes/live-map/

[10] https://coinmarketcap.com/

[11] https://en.wikipedia.org/wiki/List_of_cryptocurrencies

[12] https://bits.monospace.live/

[13] https://www.investopedia.com/how-to-make-a-cryptocurrency-5215343

[14] https://web.archive.org/web/20151016075212/http://www.swift.com/sibos2008/sibos_2008_learn_discuss_debate/sibos_issues/Sibos_Issues_20080916.pdf

[15] https://www.grandviewresearch.com/industry-analysis/crypto-wallet-market-report


In the "Time off site” section of the Swift Newsletter[10], you’ll find a lovely add for:

"Hotel Sacher

Vienna Tel: 1-514-568-40

Dine amongst wood panelled walls, surrounded by paintings by a 19th century artist from Salzburg, Anton Faistauer. Here you can create your own four, fi ve or six course meal or choose from the two seven course menus. Dishes include saddle of rabbit with tarragon, noodles and morels (mushrooms!), essence of oxtail with goose liver bread and for dessert, Sacher-torte (dense chocolate cake) with cream."

Anyone want to join? 🧐🎩🍷💰

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