Bitcoin Forum

Today i was just thinking about Bitcoin and its total contribution in world's economy. Let's calculate it.
Assume Bitcoin price - 8,925 USD
According to coinDesk Supply of total bitcoin yet = 16,937,088
Total value of bitcoin till now approx -$0.152 Trillion
According https://www.credit-suisse.com/corporate/en/research/research-institute/global-wealth-report.html (https://www.credit-suisse.com/corporate/en/research/research-institute/global-wealth-report.html)
Total World income is 280 trillion USD
Total bitcoin contribution to world income 0.054%
Here i am just talked about One crypto asset Bitcoin but can you imagine others coin ETH, LTC, DASH etc.

Share your view on it.

Emm, your calculations seem to wrong from the very beginning. Forst of all what is the general amount of the world income and how do you calculate it? You need to show its structure. Also it seems like you are adding the BTC market cap (which can't be concidered as income) to the rest of the numbers.
Bitcoin is a currency and if you need to compare it with something then you may try compare it with the supply of the US dollar. You will get less impressive numbers.

Those 70 trillion are dollars? So they existed before? If your argument resides on a previous currency, then where is the contribution? Maybe the best way is to analyze Bitcoin itself, and no base it to dollars or other economies. In order to be capable of doing so, the analysis should reside on what products can you obtain with bitcoin.
I think we should wait, for there is not such a movement yet. The moment btc becomes a payment system, the moment we will be able to speak about its contribution to the world economy. I mean: now, you are talking about dollar and bitcoin, and of course, btc has generated movement in the economy, but the most interesting part should be how it can become an asset itself, how can achieve the point of becoming something you use in your daily life. When crypto achieves this part, we will be able of speaking about global economic contribution properly. Now, of course, it has a value on the market, a great one. But the contribution to economy is still to see. Now, this is movement, on the future, btc will be able to walk by its own legs.

I was consider world income in USD becausehttps://www.credit-suisse.com/corporate/en/research/research-institute/global-wealth-report.html (https://www.credit-suisse.com/corporate/en/research/research-institute/global-wealth-report.html) and total bitcoin in circulation right now 16,937,088
it means 8925*16,937,088 = 0.152 trillions USD which is 0.054% of total world income.

 

and i am also thinking what will happen to its value if everybody finally knows it, maybe the money will change

Now bitcoin has no influence on the world economy because it is still very young. But to develop the economy is the purpose of Fiat. Bitcoin is an attempt by people to protect their savings from banks and government. We work a lot but we do not have the opportunity to receive a decent payment for work because our money is constantly disposed of by others. Break this job system for bitcoin.

Actually bitcoin didn't made any income to the world the value is transferring to one form as fiat to the crypto but the value is same but in future the value of 0.054% will change when the price increases.

Are you serious?? You know the whole economy which we call the fiat is basically standing upon nothing. The whole world economy is standing nothing but debt. I would rather say not to count even btc in terms of fiat. Instead of calculating it in dollars its better if we calculate it in terms of 21 million bitcoins only. Fiat is a pure bubble. Even if you are calculating it in terms of market cap then the whole crypto market accounts for around 3% of the world's white economy.

do not worry bitcoin will run out (extinct), santoshi nakamoto create this bitcoin with a very sharp calculation and not as easy as what you say in your prediction. in his article saying that this bitcoin will not run out until 2040, and anyone who invests in this bitcoin can not always hoard it, surely they will use it.

I agree with your words,certain percentage of people in this world earn from bitcoin by trading,Mining.They also contribute to With,litecoin and other crypto currency.In crypto news,I come to know .Many of people getting their monthly income from bitcoin.
All this crypto currency had it contribution toward World income.

Cryptocurrencies doesn't totally match the global wealth research measures.  As we all know cryptos are mostly used as an asset (investment) then more common value. Crypto market is extremely sensitive to different  news and behaviour of the larger players. To make a purchase you need to sell your cryptos and to compare all BTC market cap in this rating you should be able to sell all those coins for such price (which is less likely to happen because if anyone will decide to dump good amount of BTC is may dump the market extremely strong). And the Bitcoin's market cap still does not exclude the lost and forgotten coins that can hardly be counted as a wealth.

This is definitely profitable in my opinion, bitcoin greatly contributes to the income of a country or the world for the better, because then I believe poverty can be overcome at least. I have been thinking about it for a long time. But the question remains, why are there still many countries still banning bitcoin and recently many social media banned crypto advertising.

I agree with you, I think that bitcoin is really profitable for the whole world, but same as you, I didn't get why there is some countries still Ilegalize the use of it. If they understand clearly the situation, they will make a huge profit each year using bitcoin but unfortunately, they are stupid to banning it. I am sure that bankers are the first people who want bitcoin to be destroyed, because it can kill them as people can have heir own banks.

Good review, a better evaluation of bitcoins ( and other cryptocurrencies) will be in terms of the actual value it creates for various industries.For example,International remittance using bitcoins is faster,more efficient and cheaper (when compared to banks).Other fields will include Security,health,data storage,finance etc.In fact,ever blockchain project aims to solve a particular world problem efficiently.So bitcoin is a plus to the world economy.There is a report that bitcoin has increase the GDP of Japanese,that is directly in line with your thought.https://news.bitcoin.com/japans-gdp-grows-due-to-bitcoin-wealth-effect/

Bitcoin also contribute to other country because bitcoin is profitable to the whole country it helps the people as income f they are interested  to work of bitcoin  also develop our people how to invest bitcoin to challenge of them in order to we achieve a goal of success .

bitcoin can help the economy of the community. so, of course, this could make them appropriate tax revenue could pay for them. If they can pay tax results from automatic adding bitcoin finance state. If the more it will revamp the developing countries into developed countries.

this is not my expertise in calculating the contribution of the world income from bitcoin but I think whether it has a contribution to the income of the world or not I think bitcoin has contributed greatly to the economic growth of people in a country. so although I do not think as far as you are questioning but at least I can feel a positive impact for people who use bitcoin. just bitcoin as a decentralized currency that does not entirely get support from some countries.

Bitcoin not only contributes to the world economy but greatly contributes to the economy of society, I do not see that bitcoin really helps the country's economy, but many other countries do not see the benefits of bitcoin at the moment but see many risks, deeply regrets if not managed well now, so 100% bitcoin has not contributed more to the world because it is restricted by everyone in the world....

BTC's contribution to world income experience in taxation! Many countries are beginning to tax the BTC!

BTC mining needs the ore machine, and the production of the mining machine to increase the income! BTC transfer also costs money, many miners get benefits from it!

Bitcoin could become a viable income source for this. neighbor and biggest trading partner, China , is also a major player in the bitcoin world.

Seems like you have edited your first post that early without telling others because of the criticism and correction youve got from comments..you cant never calculate the world income just because of coindesk..because thats only a volume but the users who put their funds is the responsible for paying tax for the government to earn.what about those countries that requiring no tax for crypto?they have big numbers to consider

Maybe because people are not using Bitcoin as a salary. Maybe that's the reason why it has a low contribution to world income and not only that we don't have tax. Only if we exchange in fiat.

its made up nearly 30% of the taxable income in the USA! one of the biggest economies in the world

Your calculations I really do not understand, how you have data to calculate BTC is, now your calculation is not really right, Make the right decision, these statements are not theory beat others.

The government working against bitcoin will not accept the fact that bitcoin is helping greatly on the world income,it is changing the financial state of so many individuals as well.

I think bitcoin cannot contribute to word's income, maybe in future it will happen, if almost a half of people in the world know bitcoin and use bitcoin for their transaction. I think..it will happen.

Regulating bitcoin is far from being AGAINST in bitcoin..more countries or governments are creating regulations in al cryptocurrency specially bitcoin so they may have take taxes because of growing market in this community..but it doesnt mean that they are against crypto,most of them are just protecting the interest of theyre people as it was their obligations

Bitcoin is really a boon to the middle class as it is completely transparent. Otherwise most of the businesses are dominated by rich and powerful who have laws in their favor.

Bitcoin is really a game changer that will change our lives and our nations if we will use the benefits of it. It will reduced the poverty rate if we will raise the awareness of trading in digital currency will gives us income and might change our lives better and easier. The Government might implement tax to the income from digital currency but I think it will take time to study about it.  Don't worry about tax because all of us will get benefit from it like our security and protection.

0.05% is still large compared to the amount of people that actually use bitcoin to the world population, you will find out that less then 0.01% actually had a transaction through the bitcoin network.
Bitcoin is still not producing anything that deserves a higher percentage amount in the global market share, so it's pretty much worth 0.05%.
Anyway I believe that this number is going to be increased as soon people will realize that bitcoin is much worth for using.

It's not as straightforward as that. The thing about Bitcoin is that it's really worth nothing unless you sell it or exchange it for goods. Right now you can say that you have around $8k if you have 1 Bitcoin, but not until you sell it.

The catch here is that, the more people sell, the lower the price goes. If everyone were to dump their coins, the collective money earned by everyone would be far less than Bitcoin's market cap, because the price is going to slide as everyone's selling.

My personal experience of bitcoin greatly helped my family's economy. of this work can improve my family's economy, and I think this also happens to all the inhabitants of the world.

The bitcoin itself doesn't create any extra wealth. It only promotes income redistribution due to high demand on it. Nevertheless, bitcoin may potentially make people around the globe richer in general if it reaches the point of mass adoption and replaces fiat money. In this case, money flow won't be in control of governments and noone will be able to just print out money as governments do nowadays.

Bitcoin has definitely contributed in a very significant percentage in the world economy .
Bitcoin is said to be world's firth largest currency , so it has definitely had some major influence on the world economy . We still measure the price of bitcoin comparative to dollar , so technically it may also have surpassed dollars and what about counting the bitcoin that are dumped or sold . They hold some value too .
This is just the beginning , the major effects have just started to show up.                                           

In my opinion Btc can't contribute in world's income.Because all the countries haven't accepted it legally so far.If all countries accept and if everyone else works here or it's like other jobs,to contribute to the income of the world.

You are right, it has actually an impact in the world, because bitcoin contributed to the individual and with that every individual has the chance to gain more money and to purchase things what they want without thinking of the price, so they are helping every businesses too and so on.

I think this calculation invalid, you can't make comparison between these two variables. It is even nonsense to compare btc with stock market.

if coupled with bitcoin that already has that price, plus the price of altcoin, then bitcoin and cryptocurrency have a big share in the world economy for now, and can not deny again that the interest of the dunua community about this bitcoun is very big, hopefully bitcoin the more advanced and the price is rising again, this is my view on this

Bitcoin as a reciprocal of its contribution in supporting the transaction process in my opinion and contributing to the growing popularity of Bitcoin :D

The  worlds government know that bitcoin  is here to solve financial problems ,relief the poor without paying heavy taxes but the greed in them will not allow them to legalized bitcoin. Even without any government approving it is actually contributing to the world's income.

It's not only because of greed that made the government ignore and reluctant to legalize bitcoin. It's because they want to control their citizen's asset. Bitcoin is a decentralized currency that prevents the monitoring of people assets; if the government legalize it, they lose control of this power and also lose control of more people using their local currency. Take a look at China for an example, because of communist nature, their government put a stop in cryptocurrency nature

Same goes for the fiat money too. It's a known fact that the top 1 percent of the richest people on Earth owns more than 50% of the world's wealth.

I think there's something wrong in OP's calculations because the 280 trillion USD is not an "income" but the wealth held by 4.8 billion adults across the globe. But nevertheless it's interesting to contemplate on what part of the global wealth is reserved to Bitcoin.

Let me begin from my self as only individuals started benefiting out of crypto currencies then countries as whole. My big headache has come down because of bitcoin's earnings. 30 percent of debt is clear now, so obviously the lender is now in good position. This is just an example i said which screens that if the world in other word lets say if every country adapts then the country's economy would grow. Every citizen would earn crypto then, their lifestyle would have a tremendous change as well.

Finding about the income that people recieve through Bitcoins will always a maze and thats for sure because you know the Bitcoins is kind of non documented since it's not controlled by the government .
You cannot ever pin point which person earns how much and you cannot go about asking each and everyone out there also ! The total amount of Bitcoins can't be taken as the contribution.

Yes it is the beauty of bitcoin that it can be use by every state of people are in my country bitcoin is more beneficial for middle class then the higher, as high society of people spend their, money to invest in bitcoin but the poor and the low middle class people are getting free income with bitcoin using the signature campaign so bitcoin is reducing the number of unemployed people in my country bitcoin is really good for the betterment of my country and I know soon it will change the poor condition of my country to the well developed one.

But I don't think it is not making any big part in the world's economy if we compare the currency bitcoin price value,but it can help many people to earn money by investing in early days but it is not going to change anything in the world it is also just a currency controlled by no one.Its value transferred from the fiat money so there is no changes happen in the world's economy after bitcoin is in use.

I think it's kinda wrong to talk about it like "World Income"...

At most, it could be considered as Bitcoin's contribution to the World's total wealth, because we do not make 16 million Bitcoins per year, do we? They simply are there and more are coming.

However, I think it'd also be quite inaccurate to take Bitcoin's market cap as its contribution... We can't use Bitcoins directly, thus we have to sell them. What happens when we sell large amounts of Bitcoin? The price drops.
Therefore, it's not a good comparison. If everyone were to use their Bitcoins, they definitely wouldn't get 150 billion dollars worth of stuff out of it.

So in reality, Bitcoin's share to the total wealth of our blue globe is even smaller than what is depicted here. Yet, we can imagine

I dont think so that is how you are going to calculate the bitcoin contribution of the world income. As you know, every country will only collect there income from individual who is doing trading or investing in different term. It might be daily, weekly, monthly, semi-annually or yearly. But, this income well be sum up it the end of the yearly to be fully calculated and will be divided in different budget of a country to make the economy develop and raise. So in other word, world income is depend on the income per capita or income per house hold and that is after you are going to deduct the expenses of the house from there income.

Yeah, you are right, same goes for the fiat money too. The world is an unfair place and there has never been a time where the distribution of wealth is ever equal. It's just so unfortunate that it will be happening in cryptocurrency too, regardless of the fact that it has a decentralized nature. Probably the OP's calculations are just estimations. Since BTC is not fully  recognized by some countries, then I think  that the global wealth reserved to BTC, for now, will be less.

I don't know why you are comparing total worth with the total income, these are two different things.

After going through the article i came to know that you misunderstood the article, $280 Trillion is not total income according to the given link, it is total global wealth. BTW i believe 0.054% is still a big achievement for bitcoin and bitcoin users, it will keep on increasing as community is expanding with time.

i think for now bitcoin only contribute to some countries that have legalized it, besides bitcoin contribute revenue to individual members. but i think in addition to many new investors also from stock investors who switch to btc

However, many countries that do not legalize also many participate. it is difficult to know many people in every country. but certainly now people people already know about cryptocurrency

I think this will depend on to which country has it more and if thry are really using it, the value of bitcoin is again gaining strength and from the looks of it, it is again becomi g more of an asset than a currency. If we take a look back, those countries, whose fiat has a low value, started using bitcoin as currency and saved a lot, just like what had happened in europe most countries there are loosing in terms of fiat money and saw bitcoin as a way out of poverty and these are the countries that had legalized bitcoin already, we could also take a look at Valenzuela, there is a reason why they want to have crypto currency in place of the petro dollar.

Actually I think that crypto provides the opportunity to diminish the unfairness and I'm sure that it is helping many people to get rid of the poverty.


What I meant was that the word "income" by definition refers to money received on a regular basis. The 280 trillion USD in the OP can be rather called a "net worth" because it is the cost of the wealth owned by all the people of Earth, it's not their income.

Just like our country,  bitcoin is not legalize but bitcoin earning is very popular in here. There are people who thinks that bitcoin earners are not helping with the country's economy because they have no tax but if we are going to look at it closely,  bitcoin earners are also paying tax.  That is true,  we also contribute by paying taxes through charges and fees especially when we are making transactions and withdrawals.  It may not be directly just like in regular work but still we pay taxes.

While I agree with this and I really think that the fiat system will crash someday in the future one of the problems is that people are blind to this and that is why governments and banks can keep the scam going for so long, I do not know if I'm going to see in my life the crash of the fiat system, it's probably going to last a lot longer than what we think and as long as that is the dominant system we need to think in bitcoin also in terms of fiat.

The conclusion that we can draw from these data is that the proportion of encryption in the world economy is still very small, and the community is still in the early stages of development, and I think the community of bitcoin is huge in the future.

We all know this thing that bitcoin is the best investment at this very time and that the ones who are investing their money into it are very much satisfied with the way it is performing and that helping them in earning such a huge amount of money.

As far as contributing to the world’s income is concerned, in that case the government of different countries need to play their part and that they need to take some steps to make bitcoin work for them.

OP probably misread the page and was amazed by the numbers, everyone makes mistakes. The percentage should be higher because the total world income shouldn't be close to 280 trillion. The amount of bitcoin in circulation is hard to calculate because not all mined bitcoins are accessible some are burned, lost, etc.

Salary isn't the same as income because you don't know how much you'll earn from your bitcoin investment due to the price movements. Also it depends on when you'll sell your bitcoins.

Bitcoin has a great contribution to the world's income. It will promote the financial participation countries bitcoin. Bitcoin countries will have a very strong financial background. However, the collapse of the bitcoin floor is very likely in these countries.

I don't think bitcoin contribute to world income, you could say that bitcoin contribute to developing countries income but the whole world?? I mean bitcoin is just another investing tool where the money made from it was being transferred from others account who also invested in it. So generally the money just revolving around the world itself, oh and also did you count how many people scammed by other investment using bitcoin as a disguise, did it also count as world's income?

Bitcoin does not have a significant contribution to the world income. The population of the world who are aware of the cryptocurrency is not significant enough to make any contribution towards world income. Bitcoin is yet in its infant stage. The adoption of gold and fiat currencies is much more than Bitcoin. So, its contribution is insignificant.

I think he belittled bitcoin's contribution to the world economy. But when he said about the total contribution of all crypto including all at coins the maybe we can see the boost it gives. Then again comparing Bitcoin to dollars must be considered as they are different kind of currency and who among the two contributes more.

Based on my research, Despite shutdown of an illicit Internet marketplace, virtual currency blooms and bitcoin is part of that virtual currency. Bitcoin is considered as the first cryptocurrency with the deep structure, wide adoption, and trading momentum to achieve escape velocity.
It was also said that of all other digital transfer tool bitcoin is somehow both more and less real than the goods it is traded for. Bitcoin have number of people interested as an academic exercise or as an ideological argument about fiat currencies. Bitcoin really has its own uniqueness by its  integrity guaranteed by the rules of math and the laws of physics. And as of today, essentially every digital transaction and every international transaction involves a use of one form or another of virtual currency or credit. You may settle the Bitxoin easily and dirsctly unlike cash. In short, through Bitcoin's independence and initiative in doing the business it makes more stable than traditional currencies like any other money. Nowadays, people really cares for the safety of their wealth and they trust Bitcoin on every transaction that they will have. If people noe are very serious on this how much more in the near future with hundred of trillions can be transacted.

Yes It’s possible buying all commodities. Bitcoin use only for making profit, so most of themare purchase coin for profit. Though its can able to purchase commodities. There also big fact that many of the country do not allow the coin. That’s why it’s difficult to buying commodities. Which country like USA, Canada, they allow the coin to purchase other thinks even they can allow to pay the bank bill, gas bill etc. So I just call Bitcoin is not world currency it’s just some countries currency. Day after day it’s spreading, hope in future it will be the world currency.
No matter its world currency or not depend on the buying commodities. If I think without ability to buying commodities it’s a world currency definitely what we know clearly. 

I think that bitcoin will increase the world's income because unemployed people can work in this bitcoin so they can earn a considerable amount of bitcoin instead of working as manual laborers.

Bitcoin still has not contribution to the world income, but Bitcoin greatly contributes to the technology and way of transacting in the world...
I already feel how Bitcoin can facilitate the delivery of my assets even in large quantities without difficulty.

I believe thats true, and I think Bitcoin can help the world income in terms of giving people opportunities, and thats through campaigns,airdrops, investments and mining, I think these things are the ways for us to be profitable in such easier way without being vulnerable in any dangerous things that we may encounter outside.

I'm not sure if bitcoin still does not contribute to the world's income, in fact we see a lot of people who have gained enormous profits from crypto and even some of them can become billionaires of their investment in crypto, so unexpectedly crypto has contributed substantially to the world income.

 :)   what else can be said in this situation about world income? because now so many people are getting a bitcoin income from here starting from living well to help families all members here are earning income because bitcoin is a cryptocurrency in the country contributing towards world income to people .and a good percentage people can get it and we're going to trace so the bitcoin contribution is good for all the world's revenue.

At the current state bitcoin is having a big contribution to the worlds income, allowing people with regular incomes an opportunity to jump on board and make some money. As said 0.054% contribution to the world income is quite big and there are many other cryptos contributing. I believe we can get to a  1.1% contribution soon.

While many people dream of a world in which everyone is equal, the truth is that the distribution of wealth is never going to be like that, just think about it, those that have more money right now can buy a lot more bitcoin than a person that has very little money, so while I think that bitcoin is going to be a more fair system there are still going to be big differences in the amount of bitcoin that people hold.

bitcoin does contribute to world income, especially income in my "world" but bitcoin does not contribute much to the world as in my "world" which has many contributions, in the world income for now cryptocurrency is still just like alternative income or just as an alternative investment though bitcoin its value for now including large but over time cryptocurrency will have a major influence (contribute) to the world's revenue because of the rapidly growing technology.

If all cryptocurrency in the market combine, total market cap right now at $450billions dollar and its still small amount compare with forex market valuation per day. Forex market volume transaction per day until $6 trillions dollar and thats why cryptocurrency market have bigger room to growing and the price at cryptomarket have room to rising more. Thats only my perspective and maybe i am wrong

I do not understand the lessons of statistics and the development of the world economy.
think simple, there are thousands of unemployed currently have gotten a job as trader, minner and bounty hunter. This work has made them have decent jobs.

Yes to some extent is good actually people from different backgrounds are continuously getting into the Bitcoin and earning handsome money out of it. But we can’t just say as well that bitcoins can be of help to the whole world. Due to their short number of presence as compared to the population of whole world these coins can’t be solving the problems of people at all.

Yeah so easy and simple. There is no rocket science to let your mind understand what is good and what is bad. Things are quite easy and efficient, need is just to make them in line so that a better and easy concept can be understood. People are using internet since long times. They are educated but unemployed. So they start earning online by getting into this world and making some good money for increase their life standard.

I think because there are still many countries that reject Bitcoin, Bitcoin still has not had a significant impact on the world economy, including not yet contributing to world income...Bitcoin is currently just a transition, a new way to earn money.
perhaps in the future Bitcoin will bring in the world when Bitcoin has regulated around the world...

So bitcoin must worth much more that it is right now to became a worldwide currency, as we all wish to happen.

I agree with this.bitcoin contribution world income.it helps people so much.also its so much profitable for world economy.when most of the countries legalized bitcoin,this time bitcoin can contribution strongly in world income and influence to world income very much.

Yes. BTC is a savior to the whole world, which generates income, distributes income all over the world, not only in the country, but also to anyone in the world who is exposed to BTC and has Opportunity to own them.

Indeed without my deny now this velocity of money that I have got not out of bitcoin. much of my finances I've gotten from bitcoin. This proves that I'm contributing to bitcoin that gives finance to all serious people in the job

At the current state bitcoin is having a big contribution to the worlds income, allowing people with regular incomes an opportunity to jump on board and make some money. As said 0.054% contribution to the world income is quite big and there are many other cryptos contributing. I believe we can get to a  1.1% contribution soon.

With that way that people have the opportunity to earn here they are becoming contributor to the worlds economy, since people have the chance to increase their purchasing power and more businesses are earning profit from them, also the country is earning through the tax that people are paying from their income here.

Well, first of all, we can not use the aggregate figures of economies because not every country has the same set of laws and tax rates. In some countries, you have to pay tax on almost everything and on the other hand, there are some countries known as tax heaven countries where there is no tax at all so you can take your money there make money there and bring back the excess money back to the domestic country. There is a fundamental difference between the concept of income among the countries and this calculation is based on assumption through macroscopic approach.

I think the percentage of bitcoin contribution toward the world economy will be more then,you had mentioned.I had getting double of my salary by bitcoin trading and as like this.Many will double their by investing in crypto currency including bitcoin.
So personally I think,the percentage of bitcoin contribution will be 0.075%.

There is no doubt that the contribution of cryptocurrencies to each particular individual is great, we just need to look at what happened in the last year and the incredible profits that we got, but when more than 99% of the human population have not adopted bitcoin then the contributions of bitcoin to the world economy are very low.

Maybe if bitcoin trade regulated by many country, bitcoin can give more significant contribution income. Bitcoin create many opportunity for many people and if bitcoin trade and bitcoin as payment regulated, i think more bussiness will gain from bitcoin existence.
I am imagine people traveling around the world and many merchant can accept bitcoin for payment, tourist will more choosing carrying bitcoin than paper money because its more safe

In investment of bitcoin ,it will also contribute to the world income, if everyone has join and invest in bitcoin then that are better because the income of one person living in different parts of the world really contribute to the world income, because it is rather add factor than the people with have no work or jobless all over the world, so bitcoin members with income help the economy of the world.

and also there should be a table that shows it, right? In addition, bitcoin is not a benchmark of currencies around the world including the dollar, and does not affect inflation and deflation. bitcoin still works individually and builds its own value.

Yes, bitcoin can give a lot of contribution to the world's income because the people are earning bitcoin that is a very high amount of money based on fiat value and because of that they can spend more money in the market which can be the cause for the country to get more additional to its common income for a year and if the cryptocurrency users will become bigger then the economy of a country will grow faster.

Bitcoin is new and in growing stage. Value of all the Bitcoin in the world is $41 billion which makes the market cap of Bitcoin 0.5% of gold. Cryptocurrency has had superior price stability in the past year where it surpassed precious metal valuation per unit last year.
It will take longer time for Bitcoin to strengthen and extend its impact in the market which is most likely possible because of the advantages it gives to the users. Also Block chain technology has created curiosity in many business minds which will further encourage the use of Bitcoins on a major scale. :)

Bitcoin now is very popular around the world and people is already using it as a source of income by joining in their signature campaigns to earn tokens that can be converted into cash and that helps the country in solving hunger and unemployment.

Bitcoin will be the driving force behind the growth of the world's third-largest economy, in addition to the bitcoin's economic benefits, which also change backward views on monetary definition, full of oppression.

With bitcoin price right now, bitcoin contribution on world income's still low but if that combine with all cryptocurrency in market, i think its great achievement in just 9 years. I think cryptocurrency will more contribute on world income in next few years.

The calculation is inaccurate, and you also need to consider a lot of jobs created by bitcoin, as well as mining, bitcoin sales, and media advertising can create value.

I think that this is really great for the world economy! I have read many comments of the experts and most of them think that bicoin is worth a status of a digital gold. We will soon see its flourishing

The income generated via cryptocurrency is quite having a positive impact on the world economy. As people are being exonerated from poverty, day in and day out, it will have a ripple effect on the localities, government, nations and the world at large.

Though bitcoin has a high number of value, crypto market has only a small contribution for the global market. In fact, the shares of cryptocurrency is 1/16 when we divide it just like a pizza. However, bitcoin contributes exponentially to the world economy in passive form and for sure someday, cryptocurrency market will increases depending to the total people who are aware in the market.

Only if they fully accept bitcoin but I think no countries yet sees bitcoin to boost their economy since most of them are afraid to adopt the whole system. Bitcoin contribute income only because of the users of cryptocurrency who earned so much with bitcoi and spend it so government will taste the profit in cryptoworld. Bitcoin will help third world country and I hope they are ready to use the system.

If I talk a bit economics, I would remind all of you the Solow growth model that has really called the technology the only ultimate factor that is responsible for the growth in technology. Of course it has attracted billions of Dollars and has contributed to the world’s economy. In the future, I think the coin will go beyond this value. Having said that, it looks like Bitcoin will be the future crypto currency.

I think currently bitcoin doesn't contribute to the world's wealth. It only helps to redistribute that wealth. It will help to create new wealth if it eventually manages to replace the fiat money system so governments won't be able to abuse the monopoly over money and spoil the economy pursuing political goals.

Bitcoin isn't able to redistribute wealth. Nothing can. People may be in earlier than wall street, but they can and probably will end up making you sell the majority of your coins to them. Your money will then only be able to buy fractions of a whole coin, and you'll be paying a premium for it. I really don't understand why people sell if there is no need to -- people should realize that everything they do has the opposite effect. It's a cycle that can't be stopped. Only a small number of people managed to have the number of their coins increase instead of decrease. The majority is constantly regretting having sold too soon, and that while Bitcoin's past speaks for itself....

Even though it is just a small contribution into the world finance community but then, it is still good to consider as another source of income. And it could be more once cryptocurrency become stabilized and accepted by establishments as a mode of payment. And much more if taxes may imposed to all crypto holders.

World economy is something away from the cryptocurrency economy. The contributions of cryptocurrency to the economy of the any country is much low in overall value, but governments fear about its contribution. This purely shows how potential is the technology and need for an advancement over time.

Have you ever thought of some benefits the world as a whole get from bitcoin? Have you been a beneficiary of bitcoin? The savings from the government and other banks have been of lesser interest since most people at work places and others will prefer their salaries being paid in bitcoin. This is as a result of the security and the issue of reinvesting on cryptocurrencies.

I totally agree this.Now cryptocurrency is became one of the best asset and the top on the table of asset.They had certain percentage of contribution to World' income.If the people doing the crypto related business ,their economy is based on the cryptocurrency.If they pay tax for their income on crypto,it impact the world economy.

Should any one exclude bitcoin in the list of factors that drives world economic growth, it means that the person is bias, parochial and fickle minded in his thinking and analysis, bitcoin remains an indispensable factor in the list of forces that drives world income.

Though at the moment, bitcoin is not allowed to contribute much to the economy of the country and the reasons are pretty much obvious. We should understand that many governments are afraid of losing their controls over the wealth of the state by allowing people investing into bitcoin and other related virtual currencies. In the coming score, I could see every developed state encouraging people using them.

I have been one of the living proof that bitcoin contributes to the world income. Before bitcoin i had a very stressful life my family manage a small amount of income and wven the health are at stake just to eat 3x a day. With bitcoin i can help other members of the family.

in this world earn from bitcoin by trading,Mining.They also contribute to With,litecoin and other crypto currency.In crypto news,I come to know .Many of people getting their monthly income from bitcoin.

World Bank Bitcoin of the contribution of comprehensive. World Bank a international organization of the main purpose of the loan with the help. An international financial support agency developing countries, the development of activities for loan and grant provide. The world Bank formal the goal of the global poverty reduction. Around the world 189 member state consists of an international organization. Of the headquarters in Washington, D.C.on is located. And forum staff as if that salary is found in the coins in into. The coins are sold plenty money is available. The Bitcoin world Bank, the main contribution to play.

The best thing about cryptocurrency is the price that keeps on growing as the time goes by, that is the reason why bitcoins is very profitable, government can also use cryptocurrency to improve their own country just like japan today, if everyone country will just have the same idea then every community will be very wealthy.

Cryptocurrency market cap still undervalue compare other financial market. Like forex market, daily circulation in forex market is more than 6trillion dollar per days. Dow Jones market cap more than 20trillions dollar and i think cryptocurrency will growing more in the future if government issuing regulation on cryptomarket

Actually, this share looks very small to me and there is much more scope for growth. It's share should be more than 25% in next 10 years.

Bitcoin is a big source of income and there is no doubt in this thing. Bitcoin is the one which is the oldest crypto currency and people have changed their lives completely with the help of investing into bitcoin. Bitcoin is relief for so many people who were previously living a life of poverty and now they are having their own houses, cars and so on. Bitcoin is a life savior for so many people who were poor before it.

the world can feel the benefits of bitcoin when taxes have come into effect on every bitcoin or other crypto transaction. or at least 1% of the ownership of the user is donated to the donation to the country in need.

I am afraid you don´t have a clear understanding of what is a contribution to the economy. Try to understand what is GDP first. (https://en.wikipedia.org/wiki/Gross_domestic_product)

Since BTC's appearance, they have generated a lot of income for many, and many have also become millionaires at an early age, perhaps because of this information that some people enter the Crypto market as a child. ephemera.

It can not be like that in the bitcoin world can not be equated with state assets. Bitcoin is just a tool for sale. Anyone can get bitcoin and its own economic needs. Somehow it can be talked about like that

Bitcoin contributing to the world income is not that big. But, with its massive potential bitcoin will surely contribute to the economy of the world income large scale. Even now it has been listed among the top six most used currencies of the world in terms of market circulation.

Isn't that much as of today since isn't totally accepted in the community but once establishments commit it's acceptance into crypto, definitely it will give a huge impact into our financial stability. We shall take sometime as crypto will give as a way for better and enhance our capabilities.

 I always said that in wise and fresh hands bitcoin and blockchain technology can be came and really positive and useful stuff, if you will handle it carefully and properly you will become more successful.

The World Bank is not benefiting from bitcoin or bitcoin can not contribute to the World Bank. If you want to compare bitcoin with. Then you can climb with the USA dollar. Because Bitcoin's transaction is in dollar.

Cause we should do the market affect the right to invest in cryptocurrency that they are respectable with a great mind. The only one who depend and I support that bitcoin will fall in the right now is not a good thing that the market will continue in science and it was going through a new cryptocurrency

Bitcoin also contributes a small part to the economic development thanks to the ico programs that have brought them into the company to make it possible for companies to have quick capital to engage in business.

I totally agree this.Now cryptocurrency is became one of the best asset and the top on the table of asset.They had certain percentage of contribution to World' income.If the people doing the crypto related business ,their economy is based on the cryptocurrency.

I totally agree this.Now cryptocurrency is became one of the best asset and the top on the table of asset.They had certain percentage of contribution to World' income.If the people doing the crypto related business ,their economy is based on the cryptocurrency.

Maybe it's the market affect their money in your savings is to invest, right? I support cryptocurrency not capitalism. I believe the market will continue. The only one who has been running for those two decades so I read this way to have a good idea, right? Broken. I even the e. The real question

Currently bitcoin is having quite a small contribution to the worlds income, allowing people with regular incomes an opportunity to jump on board and make some money. As said 0.054% contribution to the world income is quite big and there are many other cryptos contributing. I think in order for Bitcoin to truly become mainstream it would need to account for at least 1% of the world total value, to compete with fiat currencies like the Krone.

As i can see bitcoin has a big contribution in our income because of using this we can earn bitcoin that we can use as money. Using bitcoin we are earning other currency.

BTC helps inflation to a certain extent!
Almost no other influence in other areas, BTC's economic volume compared with the world economy is still very small!
Some countries even prohibit BTC trades!

Yes it contribute to the worlds income in a good way because most of the people who are related to cryptocurrency is actually earning a huge amount of wealth due to the price of bitcoins that is increasing as the time goes by depending on the situation of the market.

...and I totally agree. look at it this way, when your job pays you bitcoin, you didn't really earn bitcoins but you earn fiat. Why? because for you - bitcoin is not really the money you spend with something you want or need.

Sooner or later, the thread's arguments will become true... but unfortunately, not today.

Through the economic crisis of the world we realize that the value of bitcoin gives us no change if I have a good business sense and my plan is that I can create Support by admin and management team

As per figure, it's hard to calculate the contribution of bitcoin in the world but as far as influence, power and economic support I believe bitcoin will bring so much contribution to it and will surpass or go even beyond it but this will take time.

I think when crypto achieve this section, we will be able to talk about the contribution of global economic correctly. now, of course, it has a value in the market, very good. but contributed to the economy is still to be seen. now, this is the movement, in the future, BTC will be able to walk with his own. I think we have to wait, since no movement like that. hour BTC be payment systems, now we will be able to talk about contribution to the world economy. I mean: now, you talking about the dollar and bitcoin, and of course, BTC has produced movement in the economy, but most interesting part should is how it can be a asset itself, how can be reached a point to be something that you use in everyday life you.

I agree.If the government cannot afford to give jobs to those unemployed people,well bitcoin can do so much about it.I really believe if bitcoin will be given a chance by the state to make us feel and live with its potentials,then maybe the world's economy will no longer fail.Since poverty will obviously bring the world's economy down,then bitcoin can be a great help in minimizing poverty in the whole world.

And what should be the employment bitcoin can give?do you have any specific or particular job that can be offered by Bitcoin to them?remember this is a coin and not a employment company ,never consider a bounty hunting as a job because this is not regular or consistent ,and besides its th government obligation to give their people job and not this community's obligations

In just less than a decade, the evolution of the total cryptocurrency market which started off to blast with bitcoin has reached a total valuation of 300 billion of which bitcoin controls nearly half of it, also it is one of the top currencies to be used and the worlds and hence has great contributions.

I am really late into the discussion, and one thing you need to know is: Bitcoin is not considered as a currency anywhere, but an asset. Returns from assets are profits and losses and they are not counted as income. They are counted as capital gains. Which is why bitcoin's taxes are only filed on capital gains and is not part of the Income Tax. So the whole statistic cannot be counted as valid.

Right.Bitcoin has brought to us great contributions like having paid our good services in bitcoin or getting a decent income through participating in signature or bounty campaigns.Through this way,jobless people may have all the opportunity to earn and meet their financial needs.So just imagine if all people will be into bitcoin,the world will be at least become progressive since poverty will be minimized through the help of bitcoin.

The price of BTC is getting higher and higher, so the market value of BTC is getting higher and higher. In the past, the influence of BTC was very small. :-\

I think why there are still many countries still banning bitcoin and recently many social media outlaw advertising crypto.
But It is obviously beneficial to me, bitcoin greatly contributes to the income of the country or the world for the better, because I believe poverty can be overcome at least.

The Bitcoin market is that which is slowly taking control over the world now it only has financial benefits to the world economy but also the treason for the integrating many countries and trade around the world, it has given a singular platform where nationalities to not play a role and a singular form of measurement,

I believe that bitcoin will bring a lot of contributions to it and will pass or go beyond it but this will take time.
the contribution of the global economy accurately.
Now, of course, it's worth the market, very good. But the contribution to the economy is still visible. Now, this is the movement, in the future, BTC will be a convenient and convenient means of communication.
Just calm down then make the correct statement.
It will be successful in the future is possible.

I think the calculation itself is very much fraud and misguided but then again what do i know. Let's say that the total income for all crypto currency reach say 100 trillion. Fornobe thing it doesn't matter if i say 200 trillion or more, we as humans will want more and this will not be enough. So we horde and horde until someone has mote and another has none.

Bitcoin has not yet been able to influence the global economy, because its market share is scanty!

Consider a single country that admits of having their GDP increased because their people are engaged into cryptocurrencies. If this country's claim will motivate others to do the same, then for sure, cryptos especially bitcoin play a major role in contributing the World's income.

The contribution of bitcoin to the world market as well as all aspects. There are quite a lot of good successes. This appearance promotes a fast economy and provides a wealth of material wealth to the community. Later on, it will make more progress to show the potential for it.

I have heard that Bitcoin is already 6th place in the world in terms of market capitalisation, after Dollar, Euro and etc. this for me is a sign, that Bitcoin is worth something.

I think bitcoin has no influence on world income, but facilitates transactions in world trade where the digital financial system works faster and more efficiently, because peer to peer and decentralized transactions make bitcoin an independent currency that cannot be intervened by anyone, including the government. So, the biggest contribution is precisely at the speed of financial transactions.

Well, on my opinion, even though it is just a small contribution into the world finance community but then, it is still good to consider as another source of income. And it could be more once cryptocurrency become stabilized and accepted by establishments as a mode of payment. And much more if taxes may imposed to all crypto holders.

I will not agree with this your analysis since you never use generally acceptable statical tool and at that lack the basic ingredient needed to make such assumption, bitcoin have literally contributed greatly to the world economy and in doing that you need to equippe your self with knowledge such as, what is the totality of the world economy and how many branches is it divided to and where is bitcoin in the world economy. Once you can answer this questions then you have a clear analysis.

I think there is no any income generated by bitcoin until now. bitcoin can only generate to world economy  in a way by saving the energy , infrastructure and resource that we use today different industry.

In the current days many countries are attracting and desire for the Bitcoin due to its responsive actions towards economies like other countries are benefiting their economies then rest of the countries are also demanding for it. Due to its high generating profit power countries have eyes on this digital asset to enrich their economies however few have benefited already while others are working on it to bring a proper system to run it for profit.

I was thinking of the USD and I think it is pretty good and useful.

Yes that is the reason why japan today is using cryptocurrency to improve their own country since it helps different peoples life to become wealthy.

Are you trying to tell me that those 70 trillions is nothing but dollars.

I think that is a huge contribution and income, with that kind of money you can become rich and I don't expect that as much as the bitcoin turnover in the world and can give very much results.

The contribution of Bitcoin and the cryptocurrency in the world economy has been paying great attention in the past few years as the market began to grow but compared to other financial markets it was very small. So I hope in the future cryptocurrency and Bitcoin will grow stronger to contribute to the development of the world economy.

I think your calculations are abit inaccurate. You actually included the value of Bitcoin as a whole. If the same is true then you have to include the value of all the GNPs of every country in the world plus the value of their current currency and it's total supply. But it is true, Bitcoin contributes to the world economy.

That is the real that happen ,bitcoin had great contribution to world income because even the jobless persons can really have income by joining the bitcoin forum organizations , we just registered and work what the bounty campaign required and we can earns ,that is the big oppurtunity the bitcoin community gives to the people who are financially crises  , and willing to overcome this economic problem and work for bitcion and have income , so bitcoin is a big contributor to world income.

According to the G20 statement some time ago, the impact of bitcoin and crypto currencies has not even reached 1% of the total economy. I think factual data is more than that because they don't know in detail.

Contributions will be obvious if they use crypto as an alternative payment, and this will be connected to the space in the officially registered public business.

Globally, bitcoin already has a contribution in the financial sector, namely removing banknotes that are strongly associated with logging of forests that will be used as raw material for paper money. Bitcoin's contribution is still small because users are few and concentrated in developed countries with higher levels of education.

While Bitcoin's contribution to world income is really small. But this is good, as the market has room to grow.

It was even smaller in the beginning, compared with that times now its much bigger. Market cap is higher every year, I think that in next 5 years, more or less, we need to hit trillion dollars market cap. That is relatively small compared with other financial institutions but with going up and up bitcoin can be one of the most expensive assets in the world. I think market have a lot of free space for growing, among the people, companies and later countries, there is so much free space bitcoin can conquer.

I could see many of us are now in prosperity around the world because of Bitcoin so for me the contribution of Bitcoin to world income is priceless that it cannot be measured of any amount because Bitcoin as a life changer is a great contribution to the mankind.

much people earn money from this world.we could take a look at mining industry.vga production rise alot after people mining bitcoin or altcoin for their investment.its really give positive impact to other sectors.and still many benefits from cryptomarket that make people become prosperous.

If clearly bitcoin is not showing any progress in the world income but it is clear that most of the people have told that bitcoin is providing a good income source to many of the jobless people and now they are enjoying the happy life while they have invested further so it will not wrong that they have own their trading platforms and many new ICO has been started by them once they were very new to it and now they are able to develop the crypto so it has bring much change.

How you can say that bitcoin is not contribute in world's income ?
Do you know how many people are actually working as a freelancer and earning bitcoin or ETH as an income for months.
one thing even students earning from trading and bounty campaigns and they earns huge money from it.
Per capita income has increases certainly you can't say that crypto is really helpful for those who want to earn money online.

Basically a lot of people been earning by the help of bitcoin industry , so in my own perspective the biggest contribution to world income , well the demand and the new ideas that bitcoin shown on the world wide. The most influential coin at the entire world, which a lot of people wanting it. And i guess sooner or later the btc will be successfully known or recognize mostly the governments that still thinking bitcoin is scam. And from the word that i said on the starting, is that a lot of people has been earning through bitcoin industry so basically, they're probably using it , i mean using it? , a lot buying their daily needs, like i did. So basically, it's a huge factor and a great source of income. Big thanks to bitcoin though , well long live bitcoin.

Yes, bitcoin generates income for many people, they can improve their old wages and comfortable living conditions thanks to the investment of intelligent bitcoin

I think you made an error there in your calculations as to the income plugged in by crypto currency. What you actually did is calculate the value of crypto currency. If we do that then we should also calculate the valie of all currencies of the world plus their GNPs and vaue of their products which i doubt will be just in the trillions.

i think in bitcoin money will spin, so many bitcoiners get a lot of money from people who need btc. of course, the more people who need it, the bigger nominal will be, so that they will be lucky, because many are suddenly rich

I think that bitcoin has really gave a bigger contribution it the world income because he also allow people who don't have a regular job to work to earn money. And I think most people that get involved to bitcoin would say that it has the biggest contribution to the economy among all the currency.

       That was totally an awesome and amazing thing about this new type of cryptocurrency uprising the positivity of pushing the innovation to uphold the capability and capacity of the world's income to rise furthermore which is a positive thing that can be associated with the cryptocurrency. Absolutely, this will encourage more people to go engage with Bitcoin as well as the other types of existing cryptocurrency around the virtual market that will surely uprise the popularity of the whole community if that scenario will happen.

Bitcoin has a huge contribution especially in an income to someone so that it has effect in economy in a country. And its totally amazing how the Bitcoin technology can change our lives by using it, so that once the country adopt it or accept surely it will be have a great economy and also many people will get help financially.  Im glad that cryptocurrency and Bitcoin exist because its really helpful to many people.

Yes i agree with your point that crypto is really contribute in improving living standard of people because we have seen most of unemployed working as  bounty hunter and also earn money from trading. Nation also earn taxes because when people buy any goods than indirect taxes directly go to govt.

It would really messed up the money inside the country  because people often received such money in not knowing that they could be rich in just one day.

Even despite the fact that your calculations are a bit far-fetched, I agree with the conclusion that btc (and all the crypto market) constitute just a minimal percent of the world's economy, alltogether costing less than a yearly budget of a single country (let's take the US with its $1 trillion for 2017 as an example). Consequently, we can say that cryptocurrencies do not significantly affect the global economy, but that's natural because the technology itself is too young and still needs a lot of improvement and development.

Bitcoin has different kind of contributions to the world economy. Sometime it positively contributions and some time its contribution are put negative effects on world economy. Some good contributed like it help to reduce the unemployment issues present in many country and also help many government to solve their economy related problems and also help poor country in money transaction facility. And the negative contribution of it  is due to its volatile nature which highly influence share market of various countries and this thing ultimately put negative affect of world economy.

This is literally a superb action taken by investors or whoever it is behind this impact. Bitcoin is really adding some valuable impact on world economics. And according to some experts, in coming few decades when bitcoin would be stronger enough to hold at international leave, this would become criteria for being top economical powers. Whosoever would have more impact on bitcoin be the super one.

Bitcoin contribution is words economy is probably a positive thing . It helps the economy ti have a bigger income specially in moey matters and all aspect of tranactions in bitcoin .

Probably,but as we can see Bitcoin has something to do with helping the individuals to have their source pf income, at some point it may be huge at some point it may be a little,but it doesn't matter. Bitcoin is being acwuired already by most of the popular entities in the world which we can as a slowly but surely progress that everyone is helping,but for now it have to recover.