Bitcoin contribution to World' income - page 8.

supermine

hero member

Activity: 826

Merit: 518

Quote from: fiulpro on April 22, 2018, 02:32:28 AM

Finding about the income that people recieve through Bitcoins will always a maze and thats for sure because you know the Bitcoins is kind of non documented since it's not controlled by the government .
You cannot ever pin point which person earns how much and you cannot go about asking each and everyone out there also ! The total amount of Bitcoins can't be taken as the contribution.

But I don't think it is not making any big part in the world's economy if we compare the currency bitcoin price value,but it can help many people to earn money by investing in early days but it is not going to change anything in the world it is also just a currency controlled by no one.Its value transferred from the fiat money so there is no changes happen in the world's economy after bitcoin is in use.

Blue Bell

member

Activity: 280

Merit: 10

Quote from: guschinaa on April 20, 2018, 09:57:57 AM

Bitcoin is really a boon to the middle class as it is completely transparent. Otherwise most of the businesses are dominated by rich and powerful who have laws in their favor.

Yes it is the beauty of bitcoin that it can be use by every state of people are in my country bitcoin is more beneficial for middle class then the higher, as high society of people spend their, money to invest in bitcoin but the poor and the low middle class people are getting free income with bitcoin using the signature campaign so bitcoin is reducing the number of unemployed people in my country bitcoin is really good for the betterment of my country and I know soon it will change the poor condition of my country to the well developed one.

fiulpro

hero member

Activity: 1862

Merit: 830

Finding about the income that people recieve through Bitcoins will always a maze and thats for sure because you know the Bitcoins is kind of non documented since it's not controlled by the government .
You cannot ever pin point which person earns how much and you cannot go about asking each and everyone out there also ! The total amount of Bitcoins can't be taken as the contribution.

maarx

hero member

Activity: 882

Merit: 517

cloverdex.io

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'ssuisse.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.

Let me begin from my self as only individuals started benefiting out of crypto currencies then countries as whole. My big headache has come down because of bitcoin's earnings. 30 percent of debt is clear now, so obviously the lender is now in good position. This is just an example i said which screens that if the world in other word lets say if every country adapts then the country's economy would grow. Every citizen would earn crypto then, their lifestyle would have a tremendous change as well.

vintages

full member

Activity: 966

Merit: 153

@OP, the estimated calculations you made might be true but to an extend. The thing is, some, if not most of the supply of bitcoin are been held by some major whale investors. So, it's not as if the supply is equally distributed among all holders or investors of bitcoin and this includes some major cryptcurrencies too. So, its fair to say that cryptos contribute to world income but favors some people.

Betwrong

legendary

Activity: 3374

Merit: 2198

I stand with Ukraine.

Quote from: vintages on April 21, 2018, 05:06:33 AM

@OP, the estimated calculations you made might be true but to an extend. The thing is, some, if not most of the supply of bitcoin are been held by some major whale investors. So, it's not as if the supply is equally distributed among all holders or investors of bitcoin and this includes some major cryptcurrencies too. So, its fair to say that cryptos contribute to world income but favors some people.

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.

GoldenLad

member

Activity: 266

Merit: 12

Quote from: ogini on April 21, 2018, 01:48:49 AM

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 nature

ogini

member

Activity: 406

Merit: 10

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.

Anakcikal

newbie

Activity: 148

Merit: 0

Bitcoin as a reciprocal of its contribution in supporting the transaction process in my opinion and contributing to the growing popularity of Bitcoin Cheesy

Sidiq SP

full member

Activity: 322

Merit: 100

if coupled with bitcoin that already has that price, plus the price of altcoin, then bitcoin and cryptocurrency have a big share in the world economy for now, and can not deny again that the interest of the dunua community about this bitcoun is very big, hopefully bitcoin the more advanced and the price is rising again, this is my view on this

justin86

full member

Activity: 406

Merit: 100

Market Integration Platform

I think this calculation invalid, you can't make comparison between these two variables. It is even nonsense to compare btc with stock market.

tambok

sr. member

Activity: 812

Merit: 260

Quote from: MoonJeina on April 20, 2018, 12:34:13 PM

Bitcoin has definitely contributed in a very significant percentage in the world economy .
Bitcoin is said to be world's firth largest currency , so it has definitely had some major influence on the world economy . We still measure the price of bitcoin comparative to dollar , so technically it may also have surpassed dollars and what about counting the bitcoin that are dumped or sold . They hold some value too .
This is just the beginning , the major effects have just started to show up.

You are right, it has actually an impact in the world, because bitcoin contributed to the individual and with that every individual has the chance to gain more money and to purchase things what they want without thinking of the price, so they are helping every businesses too and so on.

kolbalish

member

Activity: 627

Merit: 14

Crypto Article Sharer!!!

In my opinion Btc can't contribute in world's income.Because all the countries haven't accepted it legally so far.If all countries accept and if everyone else works here or it's like other jobs,to contribute to the income of the world.

MoonJeina

sr. member

Activity: 652

Merit: 250

Make winning bets on sports with Sportsbet.io!

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.

Bitcoin has definitely contributed in a very significant percentage in the world economy .
Bitcoin is said to be world's firth largest currency , so it has definitely had some major influence on the world economy . We still measure the price of bitcoin comparative to dollar , so technically it may also have surpassed dollars and what about counting the bitcoin that are dumped or sold . They hold some value too .
This is just the beginning , the major effects have just started to show up.

Cult

full member

Activity: 479

Merit: 100

Enter the future of gaming

The bitcoin itself doesn't create any extra wealth. It only promotes income redistribution due to high demand on it. Nevertheless, bitcoin may potentially make people around the globe richer in general if it reaches the point of mass adoption and replaces fiat money. In this case, money flow won't be in control of governments and noone will be able to just print out money as governments do nowadays.

bengsabeng

full member

Activity: 742

Merit: 102

My personal experience of bitcoin greatly helped my family's economy. of this work can improve my family's economy, and I think this also happens to all the inhabitants of the world.

jseverson

hero member

Activity: 1834

Merit: 759

It's not as straightforward as that. The thing about Bitcoin is that it's really worth nothing unless you sell it or exchange it for goods. Right now you can say that you have around $8k if you have 1 Bitcoin, but not until you sell it.

The catch here is that, the more people sell, the lower the price goes. If everyone were to dump their coins, the collective money earned by everyone would be far less than Bitcoin's market cap, because the price is going to slide as everyone's selling.

BillCoin

sr. member

Activity: 476

Merit: 259

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.

0.05% is still large compared to the amount of people that actually use bitcoin to the world population, you will find out that less then 0.01% actually had a transaction through the bitcoin network.
Bitcoin is still not producing anything that deserves a higher percentage amount in the global market share, so it's pretty much worth 0.05%.
Anyway I believe that this number is going to be increased as soon people will realize that bitcoin is much worth for using.

Marrionbitcoin

member

Activity: 294

Merit: 11

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.

Bitcoin is really a game changer that will change our lives and our nations if we will use the benefits of it. It will reduced the poverty rate if we will raise the awareness of trading in digital currency will gives us income and might change our lives better and easier. The Government might implement tax to the income from digital currency but I think it will take time to study about it. Don't worry about tax because all of us will get benefit from it like our security and protection.

guschinaa

newbie

Activity: 22

Merit: 0

Bitcoin is really a boon to the middle class as it is completely transparent. Otherwise most of the businesses are dominated by rich and powerful who have laws in their favor.

Topic: Bitcoin contribution to World' income - page 8. (Read 1379 times)