Bitcoin contribution to World' income - page 9.

carlisle1

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Quote from: phelbaby on April 20, 2018, 08:16:46 AM

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.

Regulating bitcoin is far from being AGAINST in bitcoin..more countries or governments are creating regulations in al cryptocurrency specially bitcoin so they may have take taxes because of growing market in this community..but it doesnt mean that they are against crypto,most of them are just protecting the interest of theyre people as it was their obligations

Elrozaq

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Quote from: jatin729 on March 24, 2018, 10:10:18 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.

I think bitcoin cannot contribute to word's income, maybe in future it will happen, if almost a half of people in the world know bitcoin and use bitcoin for their transaction. I think..it will happen.

phelbaby

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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.

DonateBB

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Your calculations I really do not understand, how you have data to calculate BTC is, now your calculation is not really right, Make the right decision, these statements are not theory beat others.

GregoryPorter

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its made up nearly 30% of the taxable income in the USA! one of the biggest economies in the world

torch2121

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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.

Getcoinsite

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Quote from: jatin729 on March 24, 2018, 10:10:18 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.

Seems like you have edited your first post that early without telling others because of the criticism and correction youve got from comments..you cant never calculate the world income just because of coindesk..because thats only a volume but the users who put their funds is the responsible for paying tax for the government to earn.what about those countries that requiring no tax for crypto?they have big numbers to consider

Thamon

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Bitcoin could become a viable income source for this. neighbor and biggest trading partner, China , is also a major player in the bitcoin world.

zhanyiguai261315

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BTC's contribution to world income experience in taxation! Many countries are beginning to tax the BTC!

BTC mining needs the ore machine, and the production of the mining machine to increase the income! BTC transfer also costs money, many miners get benefits from it!

jakagintiri

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Bitcoin not only contributes to the world economy but greatly contributes to the economy of society, I do not see that bitcoin really helps the country's economy, but many other countries do not see the benefits of bitcoin at the moment but see many risks, deeply regrets if not managed well now, so 100% bitcoin has not contributed more to the world because it is restricted by everyone in the world....

syaripudin

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Quote from: jatin729 on March 24, 2018, 10:10:18 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.

this is not my expertise in calculating the contribution of the world income from bitcoin but I think whether it has a contribution to the income of the world or not I think bitcoin has contributed greatly to the economic growth of people in a country. so although I do not think as far as you are questioning but at least I can feel a positive impact for people who use bitcoin. just bitcoin as a decentralized currency that does not entirely get support from some countries.

siap86

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bitcoin can help the economy of the community. so, of course, this could make them appropriate tax revenue could pay for them. If they can pay tax results from automatic adding bitcoin finance state. If the more it will revamp the developing countries into developed countries.

gadjene143

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Quote from: jatin729 on March 24, 2018, 10:10:18 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 also contribute to other country because bitcoin is profitable to the whole country it helps the people as income f they are interested to work of bitcoin also develop our people how to invest bitcoin to challenge of them in order to we achieve a goal of success .

idex100

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Quote from: jatin729 on March 24, 2018, 10:10:18 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.

Good review, a better evaluation of bitcoins ( and other cryptocurrencies) will be in terms of the actual value it creates for various industries.For example,International remittance using bitcoins is faster,more efficient and cheaper (when compared to banks).Other fields will include Security,health,data storage,finance etc.In fact,ever blockchain project aims to solve a particular world problem efficiently.So bitcoin is a plus to the world economy.There is a report that bitcoin has increase the GDP of Japanese,that is directly in line with your thought.https://news.bitcoin.com/japans-gdp-grows-due-to-bitcoin-wealth-effect/

seven2smoke1

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Quote from: hahay on March 24, 2018, 05:17:27 PM

This is definitely profitable in my opinion, bitcoin greatly contributes to the income of a country or the world for the better, because then I believe poverty can be overcome at least. I have been thinking about it for a long time. But the question remains, why are there still many countries still banning bitcoin and recently many social media banned crypto advertising.

I agree with you, I think that bitcoin is really profitable for the whole world, but same as you, I didn't get why there is some countries still Ilegalize the use of it. If they understand clearly the situation, they will make a huge profit each year using bitcoin but unfortunately, they are stupid to banning it. I am sure that bankers are the first people who want bitcoin to be destroyed, because it can kill them as people can have heir own banks.

hahay

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This is definitely profitable in my opinion, bitcoin greatly contributes to the income of a country or the world for the better, because then I believe poverty can be overcome at least. I have been thinking about it for a long time. But the question remains, why are there still many countries still banning bitcoin and recently many social media banned crypto advertising.

Beerwizzard

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Quote from: jatin729 on March 24, 2018, 11:13:04 AM

Quote from: Beerwizzard on March 24, 2018, 10:38:56 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.

Cryptocurrencies doesn't totally match the global wealth research measures. As we all know cryptos are mostly used as an asset (investment) then more common value. Crypto market is extremely sensitive to different news and behaviour of the larger players. To make a purchase you need to sell your cryptos and to compare all BTC market cap in this rating you should be able to sell all those coins for such price (which is less likely to happen because if anyone will decide to dump good amount of BTC is may dump the market extremely strong). And the Bitcoin's market cap still does not exclude the lost and forgotten coins that can hardly be counted as a wealth.

bocyaj

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I agree with your words,certain percentage of people in this world earn from bitcoin by trading,Mining.They also contribute to With,litecoin and other crypto currency.In crypto news,I come to know .Many of people getting their monthly income from bitcoin.
All this crypto currency had it contribution toward World income.

etron

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do not worry bitcoin will run out (extinct), santoshi nakamoto create this bitcoin with a very sharp calculation and not as easy as what you say in your prediction. in his article saying that this bitcoin will not run out until 2040, and anyone who invests in this bitcoin can not always hoard it, surely they will use it.

ahmad21

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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.

Topic: Bitcoin contribution to World' income - page 9. (Read 1381 times)