Fiat currencies market capitalization in Bitcoin

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legendary

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Lightning network is good with small amount of BTC

Quote from: TheNineClub on March 03, 2022, 01:06:37 AM

Seeing as the economy is intertwined, overtaking a position on this chart would have to be a combination of numerous factors, not just inflation on some currencies (and inflation is not guaranteed nor is it as simple as just printing money).

Inflation is guaranteed, that is how it has been from the beginning of fiat creation.

Quote from: TheNineClub on March 03, 2022, 01:06:37 AM

I wouldn't bet on BTC hitting any top spot anytime soon, I'd be surprised if it overtook the Franc.

Do not always believe in the articles you always see online, some are just misinformation. 1 BTC is equals to 1 BTC, that marketcap above is the circulatory supply if bitcoin, bitcoin total supply is 21 million BTC. How will bitcoin move higher unless it is compared in fiat value and not in BTC value.

Quote from: Poker Player on March 03, 2022, 01:57:06 AM

I'm not sure how accurate this is either. Let's see if someone with more knowledge can enlighten us. In my case I think it is not enough to add the current supply, assuming it is accurate, you also have to take into account the strength of the currency, and I think this is done by comparing it with a reference, as I think they do in the case of this website regarding Bitcoin.

The information will not have the correct representation of bitcoin value. You are getting it too.

Poker Player

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I responded in another similar thread that looked more at the fact that Bitcoin has recently surpassed the ruble.

Quote from: adaseb on March 02, 2022, 10:10:46 PM

I looked at these in the past however one thing I learnt is that this isn’t entirely accurate. There are different levels of money supply out there apparently.

In the chart you posted below, I think it’s only the physical fiat circulating supply. It doesn’t include the fiat from certain investments or if someone goes to the bank and gets a mortgage for $1M. I’m not an economist so maybe someone can do a better explanation.

I'm not sure how accurate this is either. Let's see if someone with more knowledge can enlighten us. In my case I think it is not enough to add the current supply, assuming it is accurate, you also have to take into account the strength of the currency, and I think this is done by comparing it with a reference, as I think they do in the case of this website regarding Bitcoin.

TheNineClub

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Seeing as the economy is intertwined, overtaking a position on this chart would have to be a combination of numerous factors, not just inflation on some currencies (and inflation is not guaranteed nor is it as simple as just printing money). I wouldn't bet on BTC hitting any top spot anytime soon, I'd be surprised if it overtook the Franc. And that's not FUD from my side, I just think that it's a process that will take a lot of time and effort and BTC is still, more or less in its infancy. But it was really never intended as a chart toper, so we really need not concern ourselves with that.

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legendary

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Lightning network is good with small amount of BTC

Quote from: nullama on March 02, 2022, 05:57:44 PM

If you look at the top of the list, you'll see that Bitcoin still has a lot of space to grow. Even a 10x in price won't be enough to get to number 1, it would only put it at number 5, below the Japanese Yen.

If you are expressing the marketcap in bitcoin, this will not make your discussion accurate because it only represents the total circulatory supply of bitcoin, there are only 21 million bitcoin that will be mined and this can not go beyond that. To accurately let people get the actual picture, the marketcap can be represented in USD, this will help us to know when inflation is affecting those fiats if compared to bitcoin. I prefer bitcoin to be compared with other valuing assets than fiat too.

adaseb

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I looked at these in the past however one thing I learnt is that this isn’t entirely accurate. There are different levels of money supply out there apparently.

In the chart you posted below, I think it’s only the physical fiat circulating supply. It doesn’t include the fiat from certain investments or if someone goes to the bank and gets a mortgage for $1M. I’m not an economist so maybe someone can do a better explanation.

nullama

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This site: https://www.fiatmarketcap.com shows the market capitalization of most of the currencies in the world, expressed in terms of Bitcoin.

As of today, Bitcoin is located at number 14, below the Swiss Franc. It will be interesting to see Bitcoin rising in this table in the future because of high inflation of some currencies, and Bitcoin becoming more valuable.

If you look at the top of the list, you'll see that Bitcoin still has a lot of space to grow. Even a 10x in price won't be enough to get to number 1, it would only put it at number 5, below the Japanese Yen.

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