Topic: Bitcoin contribution to World' income - page 7. (Read 1381 times)
I think that bitcoin will increase the world's income because unemployed people can work in this bitcoin so they can earn a considerable amount of bitcoin instead of working as manual laborers.
Yes It’s possible buying all commodities. Bitcoin use only for making profit, so most of themare purchase coin for profit. Though its can able to purchase commodities. There also big fact that many of the country do not allow the coin. That’s why it’s difficult to buying commodities. Which country like USA, Canada, they allow the coin to purchase other thinks even they can allow to pay the bank bill, gas bill etc. So I just call Bitcoin is not world currency it’s just some countries currency. Day after day it’s spreading, hope in future it will be the world currency.
No matter its world currency or not depend on the buying commodities. If I think without ability to buying commodities it’s a world currency definitely what we know clearly.
No matter its world currency or not depend on the buying commodities. If I think without ability to buying commodities it’s a world currency definitely what we know clearly.
Based on my research, Despite shutdown of an illicit Internet marketplace, virtual currency blooms and bitcoin is part of that virtual currency. Bitcoin is considered as the first cryptocurrency with the deep structure, wide adoption, and trading momentum to achieve escape velocity.
It was also said that of all other digital transfer tool bitcoin is somehow both more and less real than the goods it is traded for. Bitcoin have number of people interested as an academic exercise or as an ideological argument about fiat currencies. Bitcoin really has its own uniqueness by its integrity guaranteed by the rules of math and the laws of physics. And as of today, essentially every digital transaction and every international transaction involves a use of one form or another of virtual currency or credit. You may settle the Bitxoin easily and dirsctly unlike cash. In short, through Bitcoin's independence and initiative in doing the business it makes more stable than traditional currencies like any other money. Nowadays, people really cares for the safety of their wealth and they trust Bitcoin on every transaction that they will have. If people noe are very serious on this how much more in the near future with hundred of trillions can be transacted.
It was also said that of all other digital transfer tool bitcoin is somehow both more and less real than the goods it is traded for. Bitcoin have number of people interested as an academic exercise or as an ideological argument about fiat currencies. Bitcoin really has its own uniqueness by its integrity guaranteed by the rules of math and the laws of physics. And as of today, essentially every digital transaction and every international transaction involves a use of one form or another of virtual currency or credit. You may settle the Bitxoin easily and dirsctly unlike cash. In short, through Bitcoin's independence and initiative in doing the business it makes more stable than traditional currencies like any other money. Nowadays, people really cares for the safety of their wealth and they trust Bitcoin on every transaction that they will have. If people noe are very serious on this how much more in the near future with hundred of trillions can be transacted.
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.
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 think he belittled bitcoin's contribution to the world economy. But when he said about the total contribution of all crypto including all at coins the maybe we can see the boost it gives. Then again comparing Bitcoin to dollars must be considered as they are different kind of currency and who among the two contributes more.
Bitcoin does not have a significant contribution to the world income. The population of the world who are aware of the cryptocurrency is not significant enough to make any contribution towards world income. Bitcoin is yet in its infant stage. The adoption of gold and fiat currencies is much more than Bitcoin. So, its contribution is insignificant.
I don't think bitcoin contribute to world income, you could say that bitcoin contribute to developing countries income but the whole world?? I mean bitcoin is just another investing tool where the money made from it was being transferred from others account who also invested in it. So generally the money just revolving around the world itself, oh and also did you count how many people scammed by other investment using bitcoin as a disguise, did it also count as world's income?
Bitcoin has a great contribution to the world's income. It will promote the financial participation countries bitcoin. Bitcoin countries will have a very strong financial background. However, the collapse of the bitcoin floor is very likely in these countries.
I don't know why you are comparing total worth with the total income, these are two different things.
After going through the article i came to know that you misunderstood the article, $280 Trillion is not total income according to the given link, it is total global wealth. BTW i believe 0.054% is still a big achievement for bitcoin and bitcoin users, it will keep on increasing as community is expanding with time.
OP probably misread the page and was amazed by the numbers, everyone makes mistakes. The percentage should be higher because the total world income shouldn't be close to 280 trillion. The amount of bitcoin in circulation is hard to calculate because not all mined bitcoins are accessible some are burned, lost, etc.After going through the article i came to know that you misunderstood the article, $280 Trillion is not total income according to the given link, it is total global wealth. BTW i believe 0.054% is still a big achievement for bitcoin and bitcoin users, it will keep on increasing as community is expanding with time.
Maybe because people are not using Bitcoin as a salary. Maybe that's the reason why it has a low contribution to world income and not only that we don't have tax. Only if we exchange in fiat.
Salary isn't the same as income because you don't know how much you'll earn from your bitcoin investment due to the price movements. Also it depends on when you'll sell your bitcoins. 
The worlds government know that bitcoin is here to solve financial problems ,relief the poor without paying heavy taxes but the greed in them will not allow them to legalized bitcoin. Even without any government approving it is actually contributing to the world's income.
It's not only because of greed that made the government ignore and reluctant to legalize bitcoin. It's because they want to control their citizen's asset. Bitcoin is a decentralized currency that prevents the monitoring of people assets; if the government legalize it, they lose control of this power and also lose control of more people using their local currency. Take a look at China for an example, because of communist nature, their government put a stop in cryptocurrency natureAs far as contributing to the world’s income is concerned, in that case the government of different countries need to play their part and that they need to take some steps to make bitcoin work for them.
The conclusion that we can draw from these data is that the proportion of encryption in the world economy is still very small, and the community is still in the early stages of development, and I think the community of bitcoin is huge in the future.
Are you serious?? You know the whole economy which we call the fiat is basically standing upon nothing. The whole world economy is standing nothing but debt. I would rather say not to count even btc in terms of fiat. Instead of calculating it in dollars its better if we calculate it in terms of 21 million bitcoins only. Fiat is a pure bubble. Even if you are calculating it in terms of market cap then the whole crypto market accounts for around 3% of the world's white economy.
While I agree with this and I really think that the fiat system will crash someday in the future one of the problems is that people are blind to this and that is why governments and banks can keep the scam going for so long, I do not know if I'm going to see in my life the crash of the fiat system, it's probably going to last a lot longer than what we think and as long as that is the dominant system we need to think in bitcoin also in terms of fiat. 
i think for now bitcoin only contribute to some countries that have legalized it, besides bitcoin contribute revenue to individual members. but i think in addition to many new investors also from stock investors who switch to btc
However, many countries that do not legalize also many participate. it is difficult to know many people in every country. but certainly now people people already know about cryptocurrency
Same goes for the fiat money too. It's a known fact that the top 1 percent of the richest people on Earth owns more than 50% of the world's wealth.
I think there's something wrong in OP's calculations because the 280 trillion USD is not an "income" but the wealth held by 4.8 billion adults across the globe. But nevertheless it's interesting to contemplate on what part of the global wealth is reserved to Bitcoin.
Yeah, you are right, same goes for the fiat money too. The world is an unfair place and there has never been a time where the distribution of wealth is ever equal. It's just so unfortunate that it will be happening in cryptocurrency too, regardless of the fact that it has a decentralized nature.
Actually I think that crypto provides the opportunity to diminish the unfairness and I'm sure that it is helping many people to get rid of the poverty.
Probably the OP's calculations are just estimations. Since BTC is not fully recognized by some countries, then I think that the global wealth reserved to BTC, for now, will be less.
What I meant was that the word "income" by definition refers to money received on a regular basis. The 280 trillion USD in the OP can be rather called a "net worth" because it is the cost of the wealth owned by all the people of Earth, it's not their income.
I think this will depend on to which country has it more and if thry are really using it, the value of bitcoin is again gaining strength and from the looks of it, it is again becomi g more of an asset than a currency. If we take a look back, those countries, whose fiat has a low value, started using bitcoin as currency and saved a lot, just like what had happened in europe most countries there are loosing in terms of fiat money and saw bitcoin as a way out of poverty and these are the countries that had legalized bitcoin already, we could also take a look at Valenzuela, there is a reason why they want to have crypto currency in place of the petro dollar.
i think for now bitcoin only contribute to some countries that have legalized it, besides bitcoin contribute revenue to individual members. but i think in addition to many new investors also from stock investors who switch to btc
However, many countries that do not legalize also many participate. it is difficult to know many people in every country. but certainly now people people already know about cryptocurrency
i think for now bitcoin only contribute to some countries that have legalized it, besides bitcoin contribute revenue to individual members. but i think in addition to many new investors also from stock investors who switch to btc
I don't know why you are comparing total worth with the total income, these are two different things.
After going through the article i came to know that you misunderstood the article, $280 Trillion is not total income according to the given link, it is total global wealth. BTW i believe 0.054% is still a big achievement for bitcoin and bitcoin users, it will keep on increasing as community is expanding with time.
After going through the article i came to know that you misunderstood the article, $280 Trillion is not total income according to the given link, it is total global wealth. BTW i believe 0.054% is still a big achievement for bitcoin and bitcoin users, it will keep on increasing as community is expanding with time.
Same goes for the fiat money too. It's a known fact that the top 1 percent of the richest people on Earth owns more than 50% of the world's wealth.
I think there's something wrong in OP's calculations because the 280 trillion USD is not an "income" but the wealth held by 4.8 billion adults across the globe. But nevertheless it's interesting to contemplate on what part of the global wealth is reserved to Bitcoin.
Yeah, you are right, same goes for the fiat money too. The world is an unfair place and there has never been a time where the distribution of wealth is ever equal. It's just so unfortunate that it will be happening in cryptocurrency too, regardless of the fact that it has a decentralized nature. Probably the OP's calculations are just estimations. Since BTC is not fully recognized by some countries, then I think that the global wealth reserved to BTC, for now, will be less.
I dont think so that is how you are going to calculate the bitcoin contribution of the world income. As you know, every country will only collect there income from individual who is doing trading or investing in different term. It might be daily, weekly, monthly, semi-annually or yearly. But, this income well be sum up it the end of the yearly to be fully calculated and will be divided in different budget of a country to make the economy develop and raise. So in other word, world income is depend on the income per capita or income per house hold and that is after you are going to deduct the expenses of the house from there income.
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.
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 it's kinda wrong to talk about it like "World Income"...
At most, it could be considered as Bitcoin's contribution to the World's total wealth, because we do not make 16 million Bitcoins per year, do we? They simply are there and more are coming.
However, I think it'd also be quite inaccurate to take Bitcoin's market cap as its contribution... We can't use Bitcoins directly, thus we have to sell them. What happens when we sell large amounts of Bitcoin? The price drops.
Therefore, it's not a good comparison. If everyone were to use their Bitcoins, they definitely wouldn't get 150 billion dollars worth of stuff out of it.
So in reality, Bitcoin's share to the total wealth of our blue globe is even smaller than what is depicted here. Yet, we can imagine
Jump to: