Bitcoin Gains by Country (from Chainanalysis)

[bryant.coleman]

I feel like Indian's must've been massively underreported. I guess this data comes from exchanges as mining profits would likely see China, sweden and Iceland higher up (or on the list).

I'd put most of the nordics at least around 0.2bn.

I imagine this data could probably be cross compiled with node by country information to determine a more accurate figure?

I strongly agree with this. Most of the Indian cryptocurrency users have been driven underground due to harassment from the authorities. The registered exchanges such as WazirX and ZebPay have around 5 million users, but if you add those who mostly depend upon P2P platforms and foreign exchanges, then the number may easily cross 25 million. Active users may be 4-5 million out of this 25 million. The last time I visited India (in 2019), I was really surprised with the abundance of local cryptocurrency user communities even in the tier 2 and tier 3 cities in India.

[dimonstration]

               And here I thought china had the biggest gains when it comes to all crypto currencies including bitcoin. Turns out that the united states of America really is the one who had enjoyed so much gains in this industry despite the several regulations that were against any cryptocurrency. There was even a time back then when projects that were still starting up never accepted investors from the US. Thus just goes to show that no matter how you restrict the people, they will find ways to do things that they want.

There are still some ban websites or crypto in China, but we can’t deny the fact that BTC price really do have a lot of gains during 2020 when pandemic started many shifts in crypto investing. America see the opportunity of taking advantage using it as well the other countries. Even in my country many shifts and tries to invest in t when the stock market is way too low.

[stompix]

Money is indeed a basic thing but it is not a contributing factor to why there is such a huge difference between US and Chinese gains.

Is it not a contributing factor? It's the main contributing factor!
If you don't have the money you don't have bitcoin! END of the story, there is no magical device that costs zero and gives you bitcoin.
You need money to invest and the more money you have the more investment you can make.

Stop being surprised by this, it's not a matter of GDP it's a matter of purchasing power in $, and although China had almost all of the advantages with exchanges located there and people buying when prices were low, with mining farms, with mining gear manufactures it can't simply offset the balance, especially when for years Coinbase alone held more than 1 million coins in custody!

I strongly agree with this. Most of the Indian cryptocurrency users have been driven underground due to harassment from the authorities. The registered exchanges such as WazirX and ZebPay have around 5 million users, but if you add those who mostly depend upon P2P platforms and foreign exchanges, then the number may easily cross 25 million.

And if their average investment is 10$ they will not have even 1% of what Micro owns right now. Besides those numbers have been exposed so many times when we talked about volume in those exchanges, it's fake it's worse than okchina or huobi in 2013. Those exchanges you claim have 5 million users, Coinbase has 50 million, 10 times more users with 20 times more income per capita! Can you call this competition?

[Argoo]

I feel like Indian's must've been massively underreported. I guess this data comes from exchanges as mining profits would likely see China, sweden and Iceland higher up (or on the list).

I'd put most of the nordics at least around 0.2bn.

I imagine this data could probably be cross compiled with node by country information to determine a more accurate figure?

I was surprised by two points on this list: the first, that with such a gap in the profit from bitcoin, US citizens with a size of $ 4.4 billion are occupied, and the second - that such an accurate calculation is generally possible. Many did not believe at all that states could calculate the general income of citizens from bitcoin and cryptocurrency in general, as well as determine the amount they should pay as tax. Thus, governments can take a general response in the event that citizens do not pay taxes on cryptocurrency activities. It turned out to be impossible to hide your cryptocurrency in front of governments here too.