Bitcoin contribution to World' income - page 10.

jrrsparkles

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Quote from: jatin729 on March 24, 2018, 11:10:18 AM

Today i was just thinking about Bitcoin and its total contribution in world's economy. Let's calculate it.
Assume Bitcoin price - 8,925 USD
According to coinDesk Supply of total bitcoin yet = 16,937,088
Total value of bitcoin till now approx -$0.152 Trillion
According https://www.credit-suisse.com/corporate/en/research/research-institute/global-wealth-report.html
Total World income is 280 trillion USD
Total bitcoin contribution to world income 0.054%
Here i am just talked about One crypto asset Bitcoin but can you imagine others coin ETH, LTC, DASH etc.

Share your view on it.

Actually bitcoin didn't made any income to the world the value is transferring to one form as fiat to the crypto but the value is same but in future the value of 0.054% will change when the price increases.

Coffee135

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Now bitcoin has no influence on the world economy because it is still very young. But to develop the economy is the purpose of Fiat. Bitcoin is an attempt by people to protect their savings from banks and government. We work a lot but we do not have the opportunity to receive a decent payment for work because our money is constantly disposed of by others. Break this job system for bitcoin.

LeyAngelDevs

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Quote from: jatin729 on March 24, 2018, 11:10:18 AM

Today i was just thinking about Bitcoin and its total contribution in world's economy. Let's calculate it.
Assume Bitcoin price - 8,925 USD
According to coinDesk Supply of total bitcoin yet = 16,937,088
Total value of bitcoin till now approx -$0.152 Trillion
According BBC news in 2017, Total world income is 70 Trillions
Total bitcoin contribution to world income 0.217%
Here i am just talked about One crypto asset Bitcoin but can you imagine others coin ETH, LTC, DASH etc.

Share your view on it.

and i am also thinking what will happen to its value if everybody finally knows it, maybe the money will change

jatin729

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Quote from: Beerwizzard on March 24, 2018, 11:38:56 AM

Emm, your calculations seem to wrong from the very beginning. Forst of all what is the general amount of the world income and how do you calculate it? You need to show its structure. Also it seems like you are adding the BTC market cap (which can't be concidered as income) to the rest of the numbers.
Bitcoin is a currency and if you need to compare it with something then you may try compare it with the supply of the US dollar. You will get less impressive numbers.

I was consider world income in USD becausehttps://www.credit-suisse.com/corporate/en/research/research-institute/global-wealth-report.html and total bitcoin in circulation right now 16,937,088
it means 8925*16,937,088 = 0.152 trillions USD which is 0.054% of total world income.

seoincorporation

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Quote from: jatin729 on March 24, 2018, 11:10:18 AM

Today i was just thinking about Bitcoin and its total contribution in world's economy. Let's calculate it.
Assume Bitcoin price - 8,925 USD
According to coinDesk Supply of total bitcoin yet = 16,937,088
Total value of bitcoin till now approx -$0.152 Trillion
According BBC news in 2017, Total world income is 70 Trillions
Total bitcoin contribution to world income 0.217%
Here i am just talked about One crypto asset Bitcoin but can you imagine others coin ETH, LTC, DASH etc.

Share your view on it.

Those 70 trillion are dollars? So they existed before? If your argument resides on a previous currency, then where is the contribution? Maybe the best way is to analyze Bitcoin itself, and no base it to dollars or other economies. In order to be capable of doing so, the analysis should reside on what products can you obtain with bitcoin.
I think we should wait, for there is not such a movement yet. The moment btc becomes a payment system, the moment we will be able to speak about its contribution to the world economy. I mean: now, you are talking about dollar and bitcoin, and of course, btc has generated movement in the economy, but the most interesting part should be how it can become an asset itself, how can achieve the point of becoming something you use in your daily life. When crypto achieves this part, we will be able of speaking about global economic contribution properly. Now, of course, it has a value on the market, a great one. But the contribution to economy is still to see. Now, this is movement, on the future, btc will be able to walk by its own legs.

Beerwizzard

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Emm, your calculations seem to wrong from the very beginning. Forst of all what is the general amount of the world income and how do you calculate it? You need to show its structure. Also it seems like you are adding the BTC market cap (which can't be concidered as income) to the rest of the numbers.
Bitcoin is a currency and if you need to compare it with something then you may try compare it with the supply of the US dollar. You will get less impressive numbers.

jatin729

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Activity: 812

Merit: 108

Today i was just thinking about Bitcoin and its total contribution in world's economy. Let's calculate it.
Assume Bitcoin price - 8,925 USD
According to coinDesk Supply of total bitcoin yet = 16,937,088
Total value of bitcoin till now approx -$0.152 Trillion
According https://www.credit-suisse.com/corporate/en/research/research-institute/global-wealth-report.html
Total World income is 280 trillion USD
Total bitcoin contribution to world income 0.054%
Here i am just talked about One crypto asset Bitcoin but can you imagine others coin ETH, LTC, DASH etc.

Share your view on it.

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