Majority of Bitcoin trading is a hoax

If the trading isn't happening on the ledger, then there is no way to really know what transactions are genuine. The volume shown by these exchanges is just numbers on a display: it could be anything, unless these exchanges actually answer to someone, why should we trust their numbers?

Bitcoin does nothing, is used for nothing, and solves nothing. It’s an answer to a question no one asked.

It’s a cult whose members have an illogical alliance to technology they don’t understand and knew nothing about just a couple years ago.

But the whole charade keeps going because humans are suckers for get rich quick schemes.

Similar things can be said about fiat FX market volume. That it is being stabilized using astronomical debt is hardly an improvement.