Bitcoin contribution to World' income

[jatin729]

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.

[Beerwizzard]

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.

[seoincorporation]

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.

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.

[jatin729]

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.

I was consider world income in USD becausehttps://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.

 

[LeyAngelDevs]

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.

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

[Coffee135]

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.

[jrrsparkles]

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.

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.

[ahmad21]

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.

[etron]

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.

[bocyaj]

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.

[Beerwizzard]

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.

I was consider world income in USD becausehttps://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.

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.

[hahay]

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.

[seven2smoke1]

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.

[idex100]

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.

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/

[gadjene143]

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 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 .

[siap86]

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.

[syaripudin]

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.

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.

[jakagintiri]

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....

[zhanyiguai261315]

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!

[Thamon]

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