Bitcoin Forum

Entire crypto-currency market cap: $110 billion
Ukraine GDP: $93 billion


Bitcoin market cap: $44 billion
Lithuania GDP: $42 billion


Ethereum market cap: $33 billion
Paraguay GDP: $27 billion


Ripple market cap: $12 billion
Albania GDP: $12 billion


https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)

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When you think about, that is indeed incredible.  BTC has greater market cap than the entire country of Lithuania?

At some point, IMO, there is going to be a monstrous shake-out in the cryptos.  Which cryptos will win, which will survive, and which will disappear?

If "they" resolve the scaling problems with BTC, then expect even higher BTC prices.

That's outright bullshit

GDP (or GNP, for that metter) basically reflects the amount of goods (services) actually produced (provided) annually (you can just as easily take GDP for 10 years), while cryptocurrency market cap is some simple but utterly misguiding, misleading, and deceiving arithmetic. Even if it weren't, these are two entirely different concepts which are only measured in the same money units. The closest approximation to what is called cryptocurrency "market cap" is the total supply of money in the economy, but even in that case you should take not the market cap as such but only the amount of coins that are actually circulating (multiplied by their current price), i.e. the coins that are either traded or used as a means of payment

Well, deisik, I was not trying to make a country's GDP and the BTC market cap equivalent concepts, they clearly are different as you point out.  My comment was really about how large the crypto (BTC in this case) really is.  The SIZE of the crypto markets are indeed huge, at least to me.  BTC (and other cryptos) have a market value (asset value) that is extraordinary.

And the future looks rather good (if more people get into BTC, and merchants start accepting it), if risky.

A staggeringly meaningless comparison.

Watch what happens to any crypto market cap if more than a fraction of a per cent of holders decide it's time to cash in. The 'real' figures are probably 1/100th or less.

And what will happen to Ukraine's GDP and currency if Russia decides it's time to annex more than just Crimea?
We can speculate like that, but ultimately all fiat is vulnerable not only to manipulation and local disturbances and natural disasters, but also to war.
In a wartime prices of land and properties fall and prices of gold and silver go up. Bitcoin could and probably will act like gold in such case.

There's still no comparison. It's ludicrous. Now I think about it it should be 1/1000th.

On all crypto exchanges anywhere there's probably no more than a few tens of millions of dollars to catch that falling knife. It's never going to happen but people would be daft to get excited comparing these two things. It's a mirage.

I know you're getting some hate for making the comparison, but honestly it was a comparison that couldn't have been made a few years ago and with that alone I get excited for the future of bitcoin. It shows the growth of what we're all a part of, and it is not a meaningless comparison! Of course if everyone cashed in then bitcoin's price would drop, but that seems like an idiotic criticism, because it's that way with anything of value... Coins > National GDP.

I agree the comparison is meaningless because GDP and marketcap don't really compare in anyway. The marketcap will obviously crash if a lot of people cash out but to say the real figures are probably 1/100th less doesn't make much sense.

What you are trying to achieve with this is to emphasise that crypto capitalization is more than the country Gross Domestic product but you failed to consider the fact that you are comparing just one country with the entire crypto space which mean breaking down the crypto capitalization into country basis will likely amount to a minute amount that might not make any difference at all.

GDP is useless.

Used by politicians to justify their existence and the right to rule over us.

It is the grand total that matters

In case of an all-out war, precious metals will also tank in value since ammo, food, and shelter will become a currency then (i.e. we will be back to barter). But unlike fiat which will be quickly irrelevant altogether, gold and silver are still going to retain some value. History shows that even in cases of most terrible circumstances like devastating famines, disastrous wars or lethal epidemics, precious metals still have some demand from those who have enough of "ammo, food, and shelter"

And what is your point about posting a comparison between the 2? I think that it is irrelevant because GDP only measures all of its total domestic product while we all know Bitcoin and other cryptocurrency is  calculated by volume and price alone which is not fair because it is use worldwide. I don't think that comparing the two will give you any debate about something.

This is an important point everybody gotta see. Like you said, even a small portion of holders sell their assets the price would fall and dump harshly.

Rather than comparing with national GDPs, we should be comparing the crypto-currency market caps with those of the fiat currencies. For example, the Bitcoin market cap can be compared with that of the United States Dollar. But then, almost all of the USD is freely circulating, while large amounts of Bitcoins are being stored in cold storage.

Good data to show but they aren't related I think. But its worth noticing that the Bitcoin Market Cap is more than the GDP of some countries. The GDP is not something which the Crypto currency can be compared to for a fair analysis. The comparison has to be between the Fiat currency of a country and the Crypto Currency.