General
Statistic | | Ranking | Source(s) & Note(s) |
Date of independence | 2009-01-03 | —[1] | Date of the genesis block, de facto beginning the Bitcoin experiment. |
Population | 155200[2] | #178 Saint Lucia #179 | 2328 stores on CoinMap at estimated 0.015 stores per capita. |
Government | Decentralized governance.[3] | — | |
Demonym | Bitcoiner | — |
Economy
Statistic | | Ranking | Source(s) & Note(s) |
GDP | $15.943 billion USD | #111 Brunei #112 | Blockchain.info; estimated transaction volume over last 365 days. |
GDP Growth | 2549% | #1 | As above measuring 1-year change. |
GDP per capita | $102770.62 USD | #2 Qatar #3 | Average Bitcoiner has very high standard of living. |
Inflation Rate (CPI) | −98.2% | —[4] | One-year. Based on XBTUSD and USD CPI. |
Military expenditure | $342 million USD per annum | #86 Botswana #87 | Miners' revenue (last 365 days), blockchain.info.[5] |
Currency (Millibitcoin [mXBT, mBTC])
Statistic | | Ranking | Source(s) & Note(s) |
Value | $0.92 USD | #11 Canadian dollar #12 | Bitstamp. |
Lowest denomination in common use | 0.00001 mBTC | —[6] | Lowest allowed over network. |
Value of Lowest denomination | $0.0000092 USD | —[7] | Third-lowest value of any lowest denomination in common use; only Uzbekistani tiyin and Burmese pya have lower valuations. |
Monetary base | $11.62 billion USD | #75 Zimbabwe #76 | Based on total mined rounded down to approximate currency destruction, in addition to an estimated 1 million in deposits, subtracting an estimated 1 million coins suspected to be lost permanently. |
Footnotes
- [1]: What constitutes a “country” is subject to much political dispute. It is generally accepted that the given date is after the independence of Montenegro but before the independence of South Sudan.
- [2]: It is important to clarify what is meant by “Population”. Evidently, there are many possibilities for defining this term. If every person to know about Bitcoin were to be included, that would be akin to including all people who know about a country in that country's “population” figure. If every person to have ever touched a Bitcoin (or part of one) were to be included, that would be akin to including every tourist who once stepped foot in a country as part of the country's “population”. It is the opinion of the author that counting Bitcoin merchants is the most effective way of generating a realistic number for population.
- [3]: The author opts not to mention the Bitcoin Foundation, as its equivalent in most countries is not the government but rather a non-profit.
- [4]: Hyperdeflation is extremely rare. Bitcoin's inflation rate would be far lower than that of any other country. It would be misleading to present a ranking and a nearby country as that would imply similarity between the numbers.
- [5]: The Bitcoin network “pays” miners to defend the network from 51% attacks. Thus, defence spending can be equated to the amount paid to miners. Defence spending for the Bitcoin network is extremely efficient thanks to the built-in market dynamics; only the best miners are selected and paid and there is little to no corruption or waste. In a way, Bitcoin is the first 100%-efficient military.
- [6]: Due to the differing units, this cannot be ranked. However, it is interesting to note that more decimal places are supported than other currencies.
- [7]: Because this ranks among the lowest few, it is difficult to give an exact ranking. This difficulty is compounded due to the ambiguity apropos the word “currency”.
Any others?