Topic: Bitcoin is now the 6th largest world currency (Read 806 times)
Bitcoin cannot actually be split.I think Bitcoin is the No. 1 virtual currency.I don't think it's comparable to anything else for that.At present it is acting as a medium of exchange instead of money in many countries. And many banks are trying to recognize it as a medium of exchange.
This is the 13th year of bitcoin existence and it's on the 6th position of world currency. What happens next when the whole world accepts it as a currency? That's to say other top currency won't see her back.
Bitcoin future is ever greenish for us all
Well, at the right time we will see that bitcoin will become second placer or top among national currency. I don't know how the data has been collected because bitcoin start at an early stage just like 13 years ago while fiat currency was there for how many years. Bitcoin future is ever greenish for us all
Well, you have a point that bitcoin future has a potential that becomes the best alternative to any digital currency, --but I don't think so if bitcoin will replace fiat, that is another story here. As of now, let us help bitcoin will increase more than we expected and will increase the ratings of the largest currency on earth.
I’m not sure if these statistics is absolutely correct but it’s will be super cool if bitcoin gets that global value in term of purchasing power.
Even though Bitcoin has a completely different system from fiat money, it is so fascinating to see that Bitcoin continues to grow bigger and bigger every year. It is still the biggest cryptocurrency in the market and I wonder when this will change.
Circulating Supply
USD - $1.5 Trillion
EUR - $1.38 Trillion
CNY - $1.15 Trillion (8 Trillion CNY Units)
JPY - $1 Trillion (106 Trillion JPY Units)
INR - $425 Billion (31 Trillion INR Units)
BTC - $216.5 Billion (18.48 Million Units at value of $11722)
This data has been made in comparison of the bitcoin market circulation against the M0 money supply of fiat currencies.
What is M0 money supply?
Total value of bank notes, coins, and all substitute that can be converted to cash. The M0 value is commonly termed as narrow money.
Source : Decrypt
USD - $1.5 Trillion
EUR - $1.38 Trillion
CNY - $1.15 Trillion (8 Trillion CNY Units)
JPY - $1 Trillion (106 Trillion JPY Units)
INR - $425 Billion (31 Trillion INR Units)
BTC - $216.5 Billion (18.48 Million Units at value of $11722)
This data has been made in comparison of the bitcoin market circulation against the M0 money supply of fiat currencies.
What is M0 money supply?
Total value of bank notes, coins, and all substitute that can be converted to cash. The M0 value is commonly termed as narrow money.
Source : Decrypt
Bitcoin can't be classified with fiat currencies. Bitcoin is the top of virtual currencies over the years. From the view point of value, Bitcoin is now 6th largest coins in the world either fiat and virtual currencies. You know Bitcoin can't be converted into cash legal way in most of the countries but your data is impressive to me.
This is the 13th year of bitcoin existence and it's on the 6th position of world currency. What happens next when the whole world accepts it as a currency? That's to say other top currency won't see her back.
Bitcoin future is ever greenish for us all
Bitcoin future is ever greenish for us all
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If Gold isn't a currency then obviously bitcoin can't be called a currency. Gold was once globally accepted as a medium of exchanges, although the fiat scams has overthrown all that, still Gold has value and would be gladly accepted by some individuals just as bitcoin currently is.
Bitcoin and Gold are not the same thing and Gold was not currency and was seen as an investment/federal reserved even since fiat currency was introduced and when Nixon concluded the USD to no longer be convertible for a fixed amount of Gold.Never said they're the same thing although they have a lot of similarities which one is, they are currently the only real assets that can be valued as a currency. Before fiat was introduced gold was the general standard. It was a gobal currency used for exchanges of goods and payment for services. You saying good was never told s currency is wrong. Don't forget gold was more demand f a currency than what bitcoin is right now. Bitcoin is like the best version of gold and with it's decentralized advantage it can be said to be the best any currency can ever get.
Before now we all know the USD was backed by Gold, but the corruption and greediness of our politicians to create more note made the fiat to lose its focus and now a piece of worthless papper been given value because the government says so.
It'd be interesting if the top 100, top 1,000 crypto are tallied up and compared to the leading world fiat to compare apples and oranges. It'd make more sense to compare the volume of trades that occur in crypto Vs fiat as opposed to a perceived market cap.
I completely agree that Bitcoin is an asset, and basically its value is measured by the dollar, but there is little that can be bought for Bitcoin itself. A lot of smart words can be said that Bitcoin is not a currency, but, nevertheless, many Bitcoin holders will be flattered by this state of affairs and of course such ratings contribute to the greater distribution and trust of people in cryptocurrency. With all the volatility of Bitcoin prices, one thing is clear - this asset already occupies leading positions in various polls and ratings, and, of course, I think 6th place is not the limit.
Of course! The value of an asset is determined by its demand in the market. The more people learn about bitcoin and cryptocurrency, the greater the liquidity and, accordingly, the cost. It is worth noting that bitcoin is only gaining liquidity every year and even major reputation losses like fraudulent schemes do not allow it to sink for a very long time. This only tells us that everything will be fine.
Wow, what a wonderful news that we can see bitcoin rank #6 as the largest world currency and this data also shows the capability for bitcoin to overtake those currencies in the near future.
And once it will happen, bitcoin will surely to fully replace fiat someday. I am really excited when the time will come where we can see that bitcoin will be on top as the largest
world currency.
And once it will happen, bitcoin will surely to fully replace fiat someday. I am really excited when the time will come where we can see that bitcoin will be on top as the largest
world currency.
Before comparing BitcoinBTC to the all other stocks and currencies you should check since how long these are being traded in the markets. Even after ten years, bitcoin is still too young even after bit growing way to faster than any other currency. It's progressing way too faster and if you compare the growing speed of each currency with bitcoin, I think bitcoin can be the first.
I was quite surprised to see the data in the opening post, this is very good and interesting news. Imagine Bitcoin in a decade
can become the 6th largest world currency, this makes me even more optimistic that in the next 10 years, Bitcoin should be
at least capable entered as the order of 3 largest world currency. This is also proof for people who doubt the future of Bitcoin,
it turns out Bitcoin already popular and has a high enough demand.
can become the 6th largest world currency, this makes me even more optimistic that in the next 10 years, Bitcoin should be
at least capable entered as the order of 3 largest world currency. This is also proof for people who doubt the future of Bitcoin,
it turns out Bitcoin already popular and has a high enough demand.
I could not believe that bitcoin will exploit to these extent, when I noticed btc was 2014/2015 and then bitcoin was not regarded as much but now bitcoin is everything.
I don't think that comparing a digital currency with a fiat money like this is right. They have completely different systems. But it is a fact that Bitcoin is improving every year. Bitcoin usage is continuing to increase and more places are adding Bitcoin as a payment option.
Is btc still in 6th place after yesterday fall?
I don't think Fiat is comparable to Bitcoin. Bitcoin is a digital currency, cryptocurrency; It should only be compared to other cryptocurrencies. Bitcoin is more volatile in nature than Fiat. People associated with cryptocurrencies consider Bitcoin to be an asset or investment. However, the price of Bitcoin to convert Bitcoin to Real Money is still linked to the US Dollar and other Fiat currencies.
Looks exiting! I'm interested what will be when the last Bitcoin is mined.
That’s really good and it shows that the circle is increasing and more people are starting to get involved in Bitcoin unlike before. This is really good and it was able to beat so many world currencies to be on the sixth position. Can’t wait to see it move further up, that would be cool.
Based on the market growth and the decrease there'll be change in its position. Volatility is always part of the cryptocurrency market, and this confirms that there isn't any specific position for bitcoin in the table. Sixth place isn't not that easy to be reached. When more and more number of traditional currencies go out of usage due to inflation, bitcoin leading the table confirms the growth. With all the volatility of Bitcoin prices, one thing is clear - this asset already occupies leading positions in various polls and ratings, and, of course, I think 6th place is not the limit.
That’s right, that sixth position is no the limit for Bitcoin, it can keep up on going from there and beat more currencies on the list, which is something I would really love to see happen, that will prove to me that more people are strongly getting involved.
That’s really good and it shows that the circle is increasing and more people are starting to get involved in Bitcoin unlike before. This is really good and it was able to beat so many world currencies to be on the sixth position. Can’t wait to see it move further up, that would be cool.
With all the volatility of Bitcoin prices, one thing is clear - this asset already occupies leading positions in various polls and ratings, and, of course, I think 6th place is not the limit.
That’s right, that sixth position is no the limit for Bitcoin, it can keep up on going from there and beat more currencies on the list, which is something I would really love to see happen, that will prove to me that more people are strongly getting involved. Even though many people think Bitcoin is not a currency, because today many people use Bitcoin only as an asset.
But Bitcoin is able to enter as the 6th largest world currency, showing Bitcoin is indeed very popular. As a crypto
community, I am of course very happy to hear this positive news. Hopefully more and more countries will legalize
Bitcoin as payment, so more merchants will accept Bitcoin payments. So Bitcoin will actually be used as currency.
Bitcoin can be call anything you want.. An asset or a digital currency.. It still has its own value right? Only it not legal to be use in certain country's as it not recognize to be use as some country's hate bitcoin. Lets hope this will be change in the future so cryptos market can grow more bigger and stronger at the future. But Bitcoin is able to enter as the 6th largest world currency, showing Bitcoin is indeed very popular. As a crypto
community, I am of course very happy to hear this positive news. Hopefully more and more countries will legalize
Bitcoin as payment, so more merchants will accept Bitcoin payments. So Bitcoin will actually be used as currency.
Even though many people think Bitcoin is not a currency, because today many people use Bitcoin only as an asset.
But Bitcoin is able to enter as the 6th largest world currency, showing Bitcoin is indeed very popular. As a crypto
community, I am of course very happy to hear this positive news. Hopefully more and more countries will legalize
Bitcoin as payment, so more merchants will accept Bitcoin payments. So Bitcoin will actually be used as currency.
But Bitcoin is able to enter as the 6th largest world currency, showing Bitcoin is indeed very popular. As a crypto
community, I am of course very happy to hear this positive news. Hopefully more and more countries will legalize
Bitcoin as payment, so more merchants will accept Bitcoin payments. So Bitcoin will actually be used as currency.
There are only two possibilities that will happen after the bitcoin halving. One will be the bitcoin price will continue to increase and we can reach a new ATH record this year because the hype has been started already.
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