Topic: Bitcoin contribution to World' income - page 5. (Read 1379 times)
Have you ever thought of some benefits the world as a whole get from bitcoin? Have you been a beneficiary of bitcoin? The savings from the government and other banks have been of lesser interest since most people at work places and others will prefer their salaries being paid in bitcoin. This is as a result of the security and the issue of reinvesting on cryptocurrencies.
The government working against bitcoin will not accept the fact that bitcoin is helping greatly on the world income,it is changing the financial state of so many individuals as well.
World economy is something away from the cryptocurrency economy. The contributions of cryptocurrency to the economy of the any country is much low in overall value, but governments fear about its contribution. This purely shows how potential is the technology and need for an advancement over time.
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.
Even though it is just a small contribution into the world finance community but then, it is still good to consider as another source of income. And it could be more once cryptocurrency become stabilized and accepted by establishments as a mode of payment. And much more if taxes may imposed to all crypto holders. 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.
I think currently bitcoin doesn't contribute to the world's wealth. It only helps to redistribute that wealth. It will help to create new wealth if it eventually manages to replace the fiat money system so governments won't be able to abuse the monopoly over money and spoil the economy pursuing political goals.
Bitcoin isn't able to redistribute wealth. Nothing can. People may be in earlier than wall street, but they can and probably will end up making you sell the majority of your coins to them. Your money will then only be able to buy fractions of a whole coin, and you'll be paying a premium for it. I really don't understand why people sell if there is no need to -- people should realize that everything they do has the opposite effect. It's a cycle that can't be stopped. Only a small number of people managed to have the number of their coins increase instead of decrease. The majority is constantly regretting having sold too soon, and that while Bitcoin's past speaks for itself....
I think currently bitcoin doesn't contribute to the world's wealth. It only helps to redistribute that wealth. It will help to create new wealth if it eventually manages to replace the fiat money system so governments won't be able to abuse the monopoly over money and spoil the economy pursuing political goals.
Bitcoin will be the driving force behind the growth of the world's third-largest economy, in addition to the bitcoin's economic benefits, which also change backward views on monetary definition, full of oppression.
If I talk a bit economics, I would remind all of you the Solow growth model that has really called the technology the only ultimate factor that is responsible for the growth in technology. Of course it has attracted billions of Dollars and has contributed to the world’s economy. In the future, I think the coin will go beyond this value. Having said that, it looks like Bitcoin will be the future crypto currency. Bitcoin will be the driving force behind the growth of the world's third-largest economy, in addition to the bitcoin's economic benefits, which also change backward views on monetary definition, full of oppression.
Only if they fully accept bitcoin but I think no countries yet sees bitcoin to boost their economy since most of them are afraid to adopt the whole system. Bitcoin contribute income only because of the users of cryptocurrency who earned so much with bitcoi and spend it so government will taste the profit in cryptoworld. Bitcoin will help third world country and I hope they are ready to use the system.
Though bitcoin has a high number of value, crypto market has only a small contribution for the global market. In fact, the shares of cryptocurrency is 1/16 when we divide it just like a pizza. However, bitcoin contributes exponentially to the world economy in passive form and for sure someday, cryptocurrency market will increases depending to the total people who are aware in the market.
The income generated via cryptocurrency is quite having a positive impact on the world economy. As people are being exonerated from poverty, day in and day out, it will have a ripple effect on the localities, government, nations and the world at large.
I think that this is really great for the world economy! I have read many comments of the experts and most of them think that bicoin is worth a status of a digital gold. We will soon see its flourishing
The calculation is inaccurate, and you also need to consider a lot of jobs created by bitcoin, as well as mining, bitcoin sales, and media advertising can create value.
With bitcoin price right now, bitcoin contribution on world income's still low but if that combine with all cryptocurrency in market, i think its great achievement in just 9 years. I think cryptocurrency will more contribute on world income in next few years.
Bitcoin will be the driving force behind the growth of the world's third-largest economy, in addition to the bitcoin's economic benefits, which also change backward views on monetary definition, full of oppression.
Bitcoin now is very popular around the world and people is already using it as a source of income by joining in their signature campaigns to earn tokens that can be converted into cash and that helps the country in solving hunger and unemployment.
Bitcoin is new and in growing stage. Value of all the Bitcoin in the world is $41 billion which makes the market cap of Bitcoin 0.5% of gold. Cryptocurrency has had superior price stability in the past year where it surpassed precious metal valuation per unit last year.
It will take longer time for Bitcoin to strengthen and extend its impact in the market which is most likely possible because of the advantages it gives to the users. Also Block chain technology has created curiosity in many business minds which will further encourage the use of Bitcoins on a major scale.
It will take longer time for Bitcoin to strengthen and extend its impact in the market which is most likely possible because of the advantages it gives to the users. Also Block chain technology has created curiosity in many business minds which will further encourage the use of Bitcoins on a major scale.
Yes, bitcoin can give a lot of contribution to the world's income because the people are earning bitcoin that is a very high amount of money based on fiat value and because of that they can spend more money in the market which can be the cause for the country to get more additional to its common income for a year and if the cryptocurrency users will become bigger then the economy of a country will grow faster.
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.
and also there should be a table that shows it, right? In addition, bitcoin is not a benchmark of currencies around the world including the dollar, and does not affect inflation and deflation. bitcoin still works individually and builds its own value. 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.
In investment of bitcoin ,it will also contribute to the world income, if everyone has join and invest in bitcoin then that are better because the income of one person living in different parts of the world really contribute to the world income, because it is rather add factor than the people with have no work or jobless all over the world, so bitcoin members with income help the economy of the world.
Maybe if bitcoin trade regulated by many country, bitcoin can give more significant contribution income. Bitcoin create many opportunity for many people and if bitcoin trade and bitcoin as payment regulated, i think more bussiness will gain from bitcoin existence.
I am imagine people traveling around the world and many merchant can accept bitcoin for payment, tourist will more choosing carrying bitcoin than paper money because its more safe
I am imagine people traveling around the world and many merchant can accept bitcoin for payment, tourist will more choosing carrying bitcoin than paper money because its more safe
I think the percentage of bitcoin contribution toward the world economy will be more then,you had mentioned.I had getting double of my salary by bitcoin trading and as like this.Many will double their by investing in crypto currency including bitcoin.
So personally I think,the percentage of bitcoin contribution will be 0.075%.
There is no doubt that the contribution of cryptocurrencies to each particular individual is great, we just need to look at what happened in the last year and the incredible profits that we got, but when more than 99% of the human population have not adopted bitcoin then the contributions of bitcoin to the world economy are very low. So personally I think,the percentage of bitcoin contribution will be 0.075%.
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