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Author Topic: Bitcoin contribution to World' income  (Read 1089 times)
Getcoinsite
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April 19, 2018, 10:45:08 AM
 #21


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 BBC news in 2017, Total world income is 70 Trillions
Total bitcoin contribution to world income 0.217%
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.

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

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April 19, 2018, 12:40:22 PM
 #22

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.

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April 19, 2018, 12:56:32 PM
 #23

its made up nearly 30% of the taxable income in the USA! one of the biggest economies in the world
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April 19, 2018, 01:13:06 PM
 #24

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.
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April 20, 2018, 01:16:46 PM
 #25

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.

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April 20, 2018, 01:28:57 PM
 #26

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
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.

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.
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April 20, 2018, 01:49:32 PM
 #27

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.
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

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April 20, 2018, 01:57:57 PM
 #28

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.
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April 20, 2018, 02:05:50 PM
 #29

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
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.

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.

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April 20, 2018, 02:07:11 PM
 #30

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
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.

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.

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April 20, 2018, 02:28:54 PM
 #31

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.

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April 20, 2018, 02:37:58 PM
 #32

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.

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April 20, 2018, 03:25:36 PM
 #33

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.

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April 20, 2018, 04:34:13 PM
 #34


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
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.

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.                                           

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April 20, 2018, 05:34:44 PM
 #35

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.
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April 20, 2018, 05:39:06 PM
 #36



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.                                           
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.

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April 20, 2018, 06:28:42 PM
 #37

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

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April 21, 2018, 03:30:44 AM
 #38

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
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April 21, 2018, 04:57:55 AM
 #39

Bitcoin as a reciprocal of its contribution in supporting the transaction process in my opinion and contributing to the growing popularity of Bitcoin Cheesy
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April 21, 2018, 05:48:49 AM
 #40

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.

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