How influential is crypto worldwide? - page 5.

Kelward

full member

Activity: 364

Merit: 220

Eloncoin.org - Mars, here we come!

Quote from: Ruttoshi on January 02, 2024, 11:52:40 AM

Quote from: Upgrade00 on January 02, 2024, 10:55:12 AM

Another thing to put into perspective is that many of those.conoanies are over sixty years old now and Bitcoin which is the oldest cryptocurrency is 14 years.

Comparing both industries with very different launch times does not give any accurate suggestions.

I agree with you and this has shown that technology is fast growing because the adoption of cryptocurrency within the short period of time shows that it is a good asset and people believe in it and are always ready to adopt something new.

Bitcoin has grown more than expected in just 14yrs and that shows that it is worth investing in because of its value and potential compare to other asset like stock and bond.

The influence of Bitcoin has greatly increased since it was created 14 years ago, compered to other financial investments like stock and bonds, as you mentioned, which have been existing for many decades. In a very short period of time Bitcoin has been able to measure up as a valuable digital asset, that has the potential to take over and become the most profitable financial investment in the world. This is why it's adoption will continue to increase despite the bans and restrictions in some countries.

sunsilk

hero member

Activity: 2884

Merit: 620

Even if you say that you don't like it, most of the investors refer to the market cap to see how liquid it is. Just look at these websites and their references, they're all highlighting about the companies and assets market capitalization.

And from these sample lists, we can happily see that bitcoin is part of the top assets globally.

poodle63

hero member

Activity: 2660

Merit: 509

Leading Crypto Sports Betting & Casino Platform

influential enough that it has become phenomenon across worldwide everyone quite literally has known bitcoin is one of the way to invest these days and when i say everyone i implies those gen-z and millenials that are techy enough or older generation that are techy enough, they know that if they don't invest in stock they can invest in bitcoin even right now in many countries there are companies offering up exchange specifically for cryptocurrency so I guess it has become as popular as the fortune 100 stocks.
but then again in some part of the world they might not even know the existence of cryptocurrency maybe because they just don't care enough
but overall also seeing the market capitalization of all crypto combined you can roughly guess that these are humongous amount and will definitely become massive, in the future and that could also means that the influence of bitcoin will also spread even wider around the worlds.

DeathAngel

legendary

Activity: 3080

Merit: 1593

#1 VIP Crypto Casino

Crypto use has gained significant influence & widespread adoption worldwide. It’s emerged as a viable alternative to traditional financial systems & is increasingly utilised for various purposes. Crypto is being accepted as a form of payment by businesses & online platforms enabling global transactions. Countries & governments are exploring the potential of cryptocurrencies with some even developing their own digital currencies. The growing popularity of crypto coupled with advancements in blockchain technology has contributed to their global reach & influence which is making them an integral part of the modern financial landscape.

WillyAp

member

Activity: 672

Merit: 16

Looking for guilt best look first into a mirror

Quote from: Text on January 03, 2024, 08:02:48 AM

However, at present, we cannot say that it is the sole force shaping the world. In the coming years, traditional currencies and crypto will coexist. Yes, crypto is influential, but it is not the only thing making the world go round, and it is currently too small to replace traditional currencies like the dollar.

I agree.

Quote from: Yamane_Keto on January 03, 2024, 02:44:23 AM

We have a total approximate number of users that does not exceed 50 million users, and the minimum number is the number of users who have completed the identity verification procedure in CEXs.

I can now estimate the number of cryptocurrency users between 5 million to 70 million, and the number may reach a little more than 50 million, but definitely not 420+ million crypto users.

Coinbase said that.
For me, I set Crypto User around 40 million, there are people using stablecoins and hold no bitcoin. Nothing to store. Plus there are miners.
For me the main achievement are wallets. People outside the 1st world have a hard time getting a bank account.
Do you wish to have a company bank account in Venezuela with abroad access? Cost you 10k in US$, plus you cannot spend those. I 'm pretty sure that is not that unique, Banks and their supervising authorities are more of a hindrance than a stepping stone.

DrBeer

legendary

Activity: 3752

Merit: 1864

Statistics are a good thing, but they also need to be properly evaluated.
The number of wallets is not equal to the number of users.
Impact on the financial market - look at the turnover of trading on exchanges and crypto exchanges ? How many percent of the turnover of classical exchanges are the turnover of crypto exchanges ? A very small proportion ...
The only thing we can say is that cryptocurrencies have created a layer of new millionaires. At the same time, we should not forget that the crypto market is purely speculative, and the earnings of some are mostly the losses of others. especially with such a wild volatility.

Text

hero member

Activity: 2352

Merit: 588

Bitcoin Casino Est. 2013

I agree that crypto is influential, just like what happened and what it did to me since 2016. Even though I took a break at times, I never forgot that I could come back to it. It made a significant impact on the global financial landscape, and Bitcoin has been a major player in this transformation. For me, the real highlight of this is its influence on finance, not just in terms of market size or user base. It introduces a new, decentralized way of conducting transactions, which is fundamentally different from traditional, centralized financial systems. It has opened up new possibilities for global finance, such as peer-to-peer transactions without intermediaries. We know that it gained substantial traction and popularity, but it still represents a small fraction of the global financial system. However, at present, we cannot say that it is the sole force shaping the world. In the coming years, traditional currencies and crypto will coexist. Yes, crypto is influential, but it is not the only thing making the world go round, and it is currently too small to replace traditional currencies like the dollar.

davis196

hero member

Activity: 2954

Merit: 906

Quote

Coinweb says that the total number of crypto wallets worldwide is 84.02 million, a significant portion of users from Europe and the U.S. That makes for 420+ million crypto users.

Where did you come up with the number 420 million? 84 million crypto wallets doesn't mean 84 million crypto users. One crypto user could have multiple wallets.
Anyway, yet another forum post comparing cryptocurrencies to big corporations in terms of market cap. I feel like this is the 1000th forum post about this subject. Grin

OK, Bitcoin has a market cap, that is bigger than the market cap of some big corporations. And so what?
Bitcoin is a currency, not a company. Why do you have to compare it with companies? BlackRock operates funds, which are worth several trillion USD. Does that make BlackRock the most influential corporation in the world? Maybe. Who knows?

Yamane_Keto

sr. member

Activity: 406

Merit: 443

Quote from: WillyAp on January 02, 2024, 10:32:36 AM

Coinweb says that the total number of crypto wallets worldwide is 84.02 million, a significant portion of users from Europe and the U.S. That makes for 420+ million crypto users.

Quite a lot.

We cannot know the total number of Bitcoin users because anyone can generate thousands of addresses, the closest number we can get is from collecting data from several CEXs, and it does not represent the real number of all users, but we can say that it represents the minimum number of users.

We can easily know the total number of Bitcoin addresses that have a balance, and then we can describe it as the total number of users, which is equal to about 50 million addresses. You can get real-time data for the total number of addresses from here http://addresses.loyce.club/?C=M; O=D

We have a total approximate number of users that does not exceed 50 million users, and the minimum number is the number of users who have completed the identity verification procedure in CEXs.

I can now estimate the number of cryptocurrency users between 5 million to 70 million, and the number may reach a little more than 50 million, but definitely not 420+ million crypto users.

icalical

sr. member

Activity: 1358

Merit: 268

Graphic & Motion Designer

Quote from: Fortify on January 02, 2024, 04:44:09 PM

Quote from: WillyAp on January 02, 2024, 10:32:36 AM

I wonder how large is the financial product Crypto as a whole.

Comparing just to the NY stock exchange can put a lot into perspective:

I believe that most of the financial cloud comes from the US, maybe also the EU.
Anyone having statistics from other parts of the world please let us know Wink

Coinweb says that the total number of crypto wallets worldwide is 84.02 million, a significant portion of users from Europe and the U.S. That makes for 420+ million crypto users.

Quite a lot.

This is an interesting comparison which has some value, however realistically it needs to be compared against other currencies since that is what they are all claiming to be.

Actually only of all cryptos listed on the table, only Bitcoin, Tether, USD Coin, and Ripple was claiming to be a currency, other was a token that hold certain value based on the grow and development of it's project so it's not wrong to compare them with stocks. Not to mention that most of people who hold Bitcoin (and other cryptos) up until now still treat their crypto as speculative instrument.

WillyAp

member

Activity: 672

Merit: 16

Looking for guilt best look first into a mirror

Quote from: bluebit25 on January 02, 2024, 06:17:50 PM

I'm thinking of comparing a potato and a song, not everything of value needs to be compared.

yes sure, the number is about US$ 32 trillion in 2022, That is what Global trade reached.

Quote from: o48o on January 02, 2024, 06:46:10 PM

I feel like i am missing something obvious here. How there are almost 336million more crypto users then crypto wallets? Shouldn't that be other way around.

Yeah you caught them hehehe

Quote from: harapan on January 02, 2024, 05:14:35 PM

Since the creation of bitcoin in 2009,cryptocurrencies have exploded in popularity,it has been the most dominating crypto for over a decade and I don't see it stopping anytime soon.It is the most promising investment opportunity of our time,and has rapidly transformed various aspects of the global economy like no other.
Bitcoin is the future!!!

Bitcoin has part of the future that is sure.
The only thing which should be changed is its role in the whitepaper.
Due to its value transfer fees are too high. Speed is too low.

Crypto is influential, sure is but it is not the one thing making the world go round and is much too small to repalce the $

o48o

legendary

Activity: 2856

Merit: 1130

Leading Crypto Sports Betting & Casino Platform

Quote from: WillyAp on January 02, 2024, 10:32:36 AM

-cut-
Coinweb says that the total number of crypto wallets worldwide is 84.02 million, a significant portion of users from Europe and the U.S. That makes for 420+ million crypto users.

Quite a lot.

I feel like i am missing something obvious here. How there are almost 336million more crypto users then crypto wallets? Shouldn't that be other way around. People often have several different wallets. Even for same coin.
But it's really interesting to see if crypto goes over commodities like gold in the marketcap. I am pretty sure that bitcoin or eth with go over top companies marketcap. But gold?

SATWAT

member

Activity: 854

Merit: 45

Quote from: bluebit25 on January 02, 2024, 06:17:50 PM

I'm thinking of comparing a potato and a song, not everything of value needs to be compared. There are many aspects of unity, but there are also many things that are truly unrelated. As many people have expressed before here about the field of operation, as well as the time of operation,...
Although it is possible to partly understand the OP's intention of expressing his opinion on the influence of crypto, but the question is why not mention the possibilities in which it is being applied. If material value is the measure here, we will never be able to see the influence of this field. I can express that crypto is still very young, but its acceleration is truly amazing, perhaps the potential is something we have to admit is actually happening in this field.

I agreed with this all as we are not going to compete these, but we are going to have our share in this world and its having very good growth as mentioned above from these mostly companies are working for the decades and then have this position and in crypto world we are having just 10 to 13 years which are also big difference and few other things which are completely separating is adoption here in many countries still ban, and law related issues are hurting with if they end these barriers then surely this crypto thing is going to be rocket speed, but this all is not going to happen, and we are going to face tough challenges but still having good mark around the world is good for the market.
Hopefully more positive news and change in rules bring better results and adoption easy for the millions more those are looking for the best in life and crypto can do this all positively.

bluebit25

sr. member

Activity: 1624

Merit: 292

Eloncoin.org - Mars, here we come!

I'm thinking of comparing a potato and a song, not everything of value needs to be compared. There are many aspects of unity, but there are also many things that are truly unrelated. As many people have expressed before here about the field of operation, as well as the time of operation,...
Although it is possible to partly understand the OP's intention of expressing his opinion on the influence of crypto, but the question is why not mention the possibilities in which it is being applied. If material value is the measure here, we will never be able to see the influence of this field. I can express that crypto is still very young, but its acceleration is truly amazing, perhaps the potential is something we have to admit is actually happening in this field.

harapan

sr. member

Activity: 1652

Merit: 298

Since the creation of bitcoin in 2009,cryptocurrencies have exploded in popularity,it has been the most dominating crypto for over a decade and I don't see it stopping anytime soon.It is the most promising investment opportunity of our time,and has rapidly transformed various aspects of the global economy like no other.

Bitcoin is currently the world's most prominent crypto,recognized and accepted by many in finances,manufacturing,real estate,travel and retail.
I'm going to reconsider bitcoin over and over again,I'm going to start my journey and I'm going to start with bitcoin.
Bitcoin is the change!
Bitcoin cannot be stopped!!
Bitcoin is the future!!!

Fortify

legendary

Activity: 2646

Merit: 1176

Quote from: WillyAp on January 02, 2024, 10:32:36 AM

I wonder how large is the financial product Crypto as a whole.

Comparing just to the NY stock exchange can put a lot into perspective:

I believe that most of the financial cloud comes from the US, maybe also the EU.
Anyone having statistics from other parts of the world please let us know Wink

Coinweb says that the total number of crypto wallets worldwide is 84.02 million, a significant portion of users from Europe and the U.S. That makes for 420+ million crypto users.

Quite a lot.

This is an interesting comparison which has some value, however realistically it needs to be compared against other currencies since that is what they are all claiming to be. However, sticking with what's infront of us - this highlights that all the crypto in the world holds similar value (which can move a lot more drastically and erratically) to just the top few companies in the world. While that is a lot of money still and it has gained a lot of influence in the over a decade it's been around, it still has a long way to go. The focus needs to be on optimizing the speed of transactions, the volume that can be processed and making sure that the transaction costs are below existing payment processors if it is to continue to progress.

WillyAp

member

Activity: 672

Merit: 16

Looking for guilt best look first into a mirror

Quote from: stompix on January 02, 2024, 11:42:51 AM

I would even dare to say by an order of magnitude, 40 million sounds way more plausible than 400 million.

It is what coinbase said. I agree
I have had 5 or 7 wallets in my life.
20 to 40 million is my guess, I think also that outside the developed world there are more crypto holders.

Unfortunately for us crypto friends trading is on its way to become synonymous with crypto.

Quote from: stompix on January 02, 2024, 11:42:51 AM

Bitcoin has made alot of people wealthy and has a lot of accumulated wealth as well, when you look in at the data presented above, you will discover how Bitcoin has been on the lead of performance over other currencies, not only that alone, cryptocurrency in general is getting more attractive attention compare to other currencies or assets globally, Bitcoin is the most searched for digital asset of investment trending and people want to accept it uses for their own benefits.

So have stocks, real estate etc.. No argument here.

Aanuoluwatofunmi

sr. member

Activity: 532

Merit: 390

Quote from: WillyAp on January 02, 2024, 10:32:36 AM

I wonder how large is the financial product Crypto as a whole.

Comparing just to the NY stock exchange can put a lot into perspective:

Bitcoin has made alot of people wealthy and has a lot of accumulated wealth as well, when you look in at the data presented above, you will discover how Bitcoin has been on the lead of performance over other currencies, not only that alone, cryptocurrency in general is getting more attractive attention compare to other currencies or assets globally, Bitcoin is the most searched for digital asset of investment trending and people want to accept it uses for their own benefits.

Twentyonepaylots

sr. member

Activity: 1848

Merit: 370

Quote from: Upgrade00 on January 02, 2024, 10:55:12 AM

Another thing to put into perspective is that many of those.conoanies are over sixty years old now and Bitcoin which is the oldest cryptocurrency is 14 years.

and those conventional investors are in the stock market because they do not want to feel less secure of their money. Imagine how much we grow over the 14 years of Bitcoin run that we come into perspective comparison with World's largest companies.

Quote from: Upgrade00 on January 02, 2024, 10:55:12 AM

Comparing both industries with very different launch times does not give any accurate suggestions.

I agree, but somehow we can foresee how much room do we need to fill in with crypto market. It will take time to be as big as the stock market, and we can see it we are going there.

Ruttoshi

sr. member

Activity: 294

Merit: 267

Baba God Noni

Quote from: Upgrade00 on January 02, 2024, 10:55:12 AM

Another thing to put into perspective is that many of those.conoanies are over sixty years old now and Bitcoin which is the oldest cryptocurrency is 14 years.

Comparing both industries with very different launch times does not give any accurate suggestions.

I agree with you and this has shown that technology is fast growing because the adoption of cryptocurrency within the short period of time shows that it is a good asset and people believe in it and are always ready to adopt something new.

Bitcoin has grown more than expected in just 14yrs and that shows that it is worth investing in because of its value and potential compare to other asset like stock and bond.

Topic: How influential is crypto worldwide? - page 5. (Read 758 times)