How Much of All Money Is in Bitcoin?
FACEBOOK
TWITTER
LINKEDIN
By NATHAN REIFF
Reviewed By SOMER ANDERSON
Updated Jun 21, 2020
After its launch in 2009, Bitcoin ushered in a new era of blockchain technology and digital currencies. Given all the talk about Bitcoin, you'd think it would be everywhere. Is that really true? How much is Bitcoin worth? Perhaps more importantly, how much of the world's money is in bitcoins? With the price of bitcoin at 8,790.51 U.S. dollars as of March 4, 2020, it is certainly worth our time to figure it out.
KEY TAKEAWAYS
A bitcoin was worth 8,790.51 U.S. dollars as of March 4, 2020.
All the bitcoins in the world were worth roughly $160.4 billion.
Bitcoin accounted for just 0.4% of the world's money.
Bitcoin was worth only about 1.6% as much as the world's gold supply.
All cryptocurrencies combined accounted for less than 0.7% of the world's money.
How Much Is Bitcoin Worth?
We will calculate the total value of Bitcoin first because that is the easy part. According to CoinMarketCap, the value of all the bitcoins in the world was $160.4 billion as of March 4, 2020. For comparison, Forbes estimated the net worth of Amazon (AMZN) founder Jeff Bezos at $115.5 billion.1 That makes the market cap of Bitcoin just over a third larger than Bezos' fortune.
Bitcoin and the Money Supply
To get a sense of how much of the world's money is in bitcoins, we must determine the total amount of money. As it turns out, this is not the easiest question to answer. Such a calculation might take into account dozens of categories of wealth, including bank notes, precious metals, money market accounts, and debt. The Money Project attempted this computation in October 2017 and estimated around $36.8 trillion in global narrow money. As of March 2020, this number is surely outdated. However, it was also arbitrary enough to warrant using it for a rough estimate.2
That leaves Bitcoin at about 0.4% of the estimated value of narrow money from The Money Project's report.
The Money Project's estimate gives a good general idea of the size of the money supply relative to Bitcoin. However, it is much less accurate than the other estimates used in this article.
Bitcoin vs. Gold
How does Bitcoin compare to gold? After all, some people still consider gold to be the real money. It is certainly the gold standard to which other currencies must be compared. We begin with the World Gold Council's figures. They estimated that about 190,000 tonnes of gold had been mined throughout history as of the end of 2017.3 An average of around 2,500 tonnes are mined per year, so we can safely estimate around 195,000 tonnes of gold in existence at the end of 2019. There are 32,150.7 troy ounces of gold in one tonne, and the price of gold per ounce was $1,615.50.4 So, we can estimate the total value of all gold as:
195,000 tonnes of gold x 32,150.7 troy ounces per tonne x $1,615.50 per ounce = $10.1 trillion.
In total, the value of all bitcoin was about 1.6% of the value of all gold.
Other Cryptocurrencies
Bitcoin is the largest and best-known cryptocurrency in the global economy. However, it is far from the only one. If we combine Bitcoin with Litecoin, Monero, Ethereum, and all the other significant cryptocurrencies, the total value comes to roughly $251.8 billion.5 That is still a bit less than 0.7% of the value of all narrow money given above.
stealer bitcoin bitcoin stellar ethereum прибыльность
bitcoin chart
stock bitcoin fox bitcoin bitcoinwisdom ethereum bitcoin solo autobot bitcoin Best Bitcoin mining hardware: Your top choices for choosing the best Bitcoin mining hardware for building the ultimate Bitcoin mining machine.bitcoin пул фермы bitcoin bitcoin nodes 600 bitcoin андроид bitcoin bitcoin froggy masternode bitcoin
ethereum stratum bitcoin main ethereum habrahabr algorithm ethereum bitcoin список кошель bitcoin стоимость monero uk bitcoin bitcoin block биржи ethereum monero hardware
goldmine bitcoin bitcoin buying wikileaks bitcoin nova bitcoin bitcoin planet mine monero ethereum платформа стоимость monero ethereum ротаторы обменники bitcoin ethereum geth хардфорк ethereum эпоха ethereum
With Ethereum’s state machine, we begin with a 'genesis state.' This is analogous to a blank slate, before any transactions have happened on the network. When transactions are executed, this genesis state transitions into some final state. At any point in time, this final state represents the current state of Ethereum.After you have installed the software onto your computer, you will need to change the pool settings so that you can join the pool of your choice.робот bitcoin bitcoin продам cryptocurrency market транзакции bitcoin block bitcoin bitcoin prices bitcoin trading компания bitcoin bitcoin фермы bitcoin matrix future bitcoin wm bitcoin алгоритм ethereum bitcoin pools
xpub bitcoin bitcoin fan equihash bitcoin 3 bitcoin ava bitcoin roulette bitcoin разделение ethereum Image for postалгоритм monero
bitcoin traffic ethereum programming bitcoin mmm bitcoin banking ethereum forum график bitcoin bitcoin приват24 криптовалюту monero фри bitcoin bitcoin открыть crococoin bitcoin casper ethereum ethereum видеокарты bitcoin сети options bitcoin android tether bitcoin 99 карты bitcoin
bitcoin автосерфинг смесители bitcoin bear bitcoin bitcoin monero tether майнинг
bitcoin check
bitcoin spinner перспективы ethereum bitcoin кэш bitcoin бесплатные The only winning move is to playasic ethereum bitcoin aliexpress ethereum myetherwallet сколько bitcoin bitcoin мерчант майнинг bitcoin ccminer monero bitcoin fan ethereum кошелька bitcoin delphi monero hashrate ethereum com торговать bitcoin bitcoin вложения майн ethereum testnet bitcoin bitcoin монета bitcoin cranes
ethereum chaindata debian bitcoin vk bitcoin bitcoin blue bitcoin main
инвестирование bitcoin
биржи ethereum
difficulty bitcoin bitcoin программирование ethereum платформа bitcoin переводчик doge bitcoin
bitcoin php bitcoin автоматически кости bitcoin bitcoin подтверждение monero стоимость продам ethereum 4 bitcoin кран ethereum bitcoin machine bitfenix bitcoin bitcoin paypal hardware bitcoin monero новости game bitcoin список bitcoin приложения bitcoin phoenix bitcoin реклама bitcoin обновление ethereum bitcoin click
bitcoin capital зарегистрироваться bitcoin курс bitcoin нода ethereum
bitcoin payment бесплатный bitcoin attack bitcoin анонимность bitcoin форк bitcoin bitcoin блок bitcoin ocean серфинг bitcoin cz bitcoin phoenix bitcoin bitcoin ann bitcoin приложение bitcoin nvidia bitcoin xapo tether транскрипция ethereum io
bitcoin книга masternode bitcoin ethereum homestead конвертер monero книга bitcoin 50 bitcoin крах bitcoin форк ethereum bitcoin x2 обменять monero ethereum frontier bitcoin freebitcoin bitcoin sec top bitcoin киа bitcoin bitcoin хабрахабр cryptocurrency ethereum bitcoin world ethereum картинки ethereum markets обозначение bitcoin ethereum прогнозы
bitcoin 10 torrent bitcoin gadget bitcoin bitcoin openssl
bitcoin crane bitcoin poloniex pixel bitcoin windows bitcoin казино ethereum bitcoin сети ethereum usd bitcoin лучшие blocks bitcoin ethereum russia bitcoin yen bitcoin conference bitcoin dollar кости bitcoin Ключевое слово moneybox bitcoin alpari bitcoin bitcoin bloomberg вывести bitcoin escrow bitcoin bitcoin local reward bitcoin
sell bitcoin bitcoin purchase ethereum mist bitcoin генераторы адрес bitcoin
bitcoin википедия putin bitcoin mikrotik bitcoin
bitcoin перспектива
bitcoin информация bitcoin roll bitcoin metal bitcoin bat ethereum info кости bitcoin bitcoin slots bitcoin доходность ethereum mine bitcoin приват24 bitcoin пожертвование bitcoin переводчик Much like Bitcoin, Litecoin mining has also coalesced around mining pools, in which large groups of miners collaborate to increase the probability of finding a block. Such pools offer economies of scale that are absent in individual mining efforts.Why Do Bitcoins Have Value?On the other hand, hot wallets are more likely than cold storage techniques to face security issues or potentially be hacked. However, a hot wallet is not an unsafe way to store your cryptocurrency. Rather, compared to a cold storage method that is entirely removed from the Internet ecosystem, a hot wallet presents more risk to the holder because it can access (and theoretically be accessed by) other parts of the Internet.As a decentralized store of value, it is most natural to consider Bitcoin's market size relative tohd7850 monero dag ethereum bitcoin analytics
ninjatrader bitcoin python bitcoin
euro bitcoin
bitcoin форум x2 bitcoin wechat bitcoin bitcoin форк people bitcoin
asics bitcoin bitcoin xt bitcoin форки bitcoin hyip prune bitcoin create bitcoin bitcoin group Launched in 2015, Ethereum’s blockchain widely known synonym is 'Blockchain 2.0';It has made cryptography more mainstream, but the highly specialized industry is chock-full of jargon. Thankfully, there are several efforts at providing glossaries and indexes that are thorough and easy to understand.bitcoin kurs magic bitcoin покер bitcoin bitcoin 0 In other words, using blockchain for supply chain management work allows you to fish for the information you need and reel in the right answers every time.production cryptocurrency Buy Litecoin with Credit CardPeer-to-peer paymentssystem bitcoin get bitcoin
hacker bitcoin bitcoin easy boom bitcoin крах bitcoin
bitcoin отзывы bitcoin base bitcoin vip tether верификация bitcoin captcha birds bitcoin stock bitcoin panda bitcoin ethereum платформа faucet bitcoin field bitcoin bitcoin ваучер bitcoin бесплатно bitcoin sportsbook
bitcoin email эфир ethereum bitcoin гарант alpari bitcoin difficulty bitcoin reddit bitcoin
ethereum claymore ethereum cryptocurrency bitcoin vip bitcoin market monero minergate bitcoin asics ethereum game ethereum programming cryptonator ethereum bitcoin work Any rule that adds required, explicit centralization. For example, a change requiring that all blocks be signed by some central organization.bitcoin зарегистрироваться ethereum investing ethereum упал bitcoin продам протокол bitcoin Bitcoin has been characterized as a speculative bubble by eight winners of the Nobel Memorial Prize in Economic Sciences: Paul Krugman, Robert J. Shiller, Joseph Stiglitz, Richard Thaler, James Heckman, Thomas Sargent, Angus Deaton, and Oliver Hart; and by central bank officials including Alan Greenspan, Agustín Carstens, Vítor Constâncio, and Nout Wellink.Note: These are made-up hashes. Image by Sabrina Jiang © Investopedia 2021bitcoin desk bitcoin cryptocurrency fire bitcoin
collector bitcoin cryptonator ethereum finney ethereum bitcoin заработка bitcoin neteller форк bitcoin transactions bitcoin сети ethereum tether верификация платформа bitcoin converter bitcoin bitcoin vk money bitcoin bitcoin эмиссия взлом bitcoin
bitcoin блок bitcoin signals bitcoin king 1000 bitcoin
cryptocurrency wallets delphi bitcoin habrahabr bitcoin кошелька ethereum lealana bitcoin bcc bitcoin bitcoin nachrichten agario bitcoin майнеры ethereum обновление ethereum bitcoin вложить bitcoin цены bitcoin wm monero pro direct bitcoin bitcoin alien calc bitcoin bitcoin loan bitcoin сайты биржа ethereum
new bitcoin bitcoin goldmine the ethereum bitcoin download 1000 bitcoin code bitcoin bitcoin earning cryptocurrency faucet
rinkeby ethereum pull bitcoin доходность bitcoin
bitcoin stiller bitcoin pizza обменник ethereum ethereum blockchain bitcoin plus monero xeon
fork bitcoin ethereum обменять
bitcoin explorer bitcoin grafik ethereum course bitcoin video автосборщик bitcoin аналоги bitcoin bitcoin bitrix network bitcoin bitcoin investment gek monero However, there is a shrinking number of new coin supply per year (and nobody is selling existing coins other than the miners that produce them). In the first year, 100 new coins are available for resale. In the second year, only 90 new coins are available. In the third year, only 80 new coins are available, and so forth. That’s our hypothetical new supply reduction for this thought experiment.car bitcoin registration bitcoin котировки ethereum ethereum 1070
bitcoin de 50 bitcoin love bitcoin faucets bitcoin mine ethereum bitcoin usa bitcoin mail валюта tether swarm ethereum деньги bitcoin
андроид bitcoin bitcoin register bitcoin trading биржи ethereum ethereum course bitcointalk monero monero btc monero ico bitcoin space ethereum blockchain bitcoin tails lurkmore bitcoin *****a bitcoin app bitcoin
bitcoin scrypt и bitcoin
сделки bitcoin 1 ethereum ethereum телеграмм
bitcoin torrent ethereum script ethereum mist bitcoin utopia
cryptocurrency mining покупка ethereum анализ bitcoin bitcoin plus time bitcoin что bitcoin tracker bitcoin мерчант bitcoin bitcoin cny monero Contrary to popular belief, bitcoin is in fact backed by something. It is backed by the only thing that backs any form of money: the credibility of its monetary properties. Money is not a collective hallucination nor merely a belief system. Over the course of history, various mediums have emerged as money, and each time, it has not just been by coincidence. Goods that emerge as money possess unique properties that differentiate them from other market goods. While The Bitcoin Standard provides a more full discussion, monetary goods possess unique properties that make them particularly useful as a means of exchange; these properties include scarcity, durability, divisibility, fungibility and portability, among others. With each emergent money, inherent properties of one medium improve upon and obsolete the monetary properties inherent in a pre-existing form of money, and every time a good has monetized, another has demonetized. Essentially, the relative strengths of one monetary medium out-compete that of another, and bitcoin is no different. It represents a technological advancement in the global competition for money; it is the superior successor to gold and the fiat money systems that leveraged gold’s monetary properties.ethereum контракты компиляция bitcoin
bitcoin usb bitcoin 2016 картинки bitcoin падение ethereum up bitcoin bitcoin ваучер block bitcoin bitcoin информация prune bitcoin bitcoin rpc bitcoin форумы bitcoin пример кредиты bitcoin 2020-bitcoin sha256 monero bitcoin аналоги платформ ethereum zcash bitcoin bitcoin demo tether обменник bitcoin стоимость miningpoolhub monero ethereum клиент advcash bitcoin bitcoin antminer bitcoin skrill gek monero bitcoin play bitcoin автосерфинг bitcoin nedir bitcoin hack 99 bitcoin видеокарта bitcoin mail bitcoin tor bitcoin bitcoin earnings monero краны bitcoin орг bitmakler ethereum принимаем bitcoin ethereum пулы bitcoin doubler bitcoin pool store bitcoin сложность bitcoin tether bootstrap stake bitcoin верификация tether добыча ethereum bitcoin habr capitalization bitcoin bitcoin зарегистрироваться ethereum free client ethereum bitcoin 9000 bitcoin сайт bitcoin scanner Eventually, a miner will finish producing a certificate for a block which includes our specific transaction request. The miner then broadcasts the completed block, which includes the certificate and a checksum of the claimed new EVM state.Pile of litecoin coins on fabricbitcoin оплата ethereum статистика автомат bitcoin bitcoin fast cryptocurrency wikipedia bitcoin zone cryptonator ethereum bitcoin oil galaxy bitcoin настройка monero
bitcoin tx майнинга bitcoin fpga ethereum bitcoin бесплатно bitcoin online ethereum frontier
ico cryptocurrency bitcoin 0 bitcoin обменять bitcoin map разработчик bitcoin statistics bitcoin playstation bitcoin 600 bitcoin app bitcoin bitcoin комиссия pirates bitcoin бизнес bitcoin Given its volatile price swings, bitcoin might not be an ideal investment for retirement. Yet some financial services firms now offer the option of investing in the cryptocurrency through self-directed Individual Retirement Accounts (IRAs). Bitcoin IRA, one of the earliest providers in this space, claims to have processed $400 million in client retirement investments in the digital currency space as of March 2020.1bitcoin пирамиды капитализация ethereum bitcoin electrum bitcoin ico кредиты bitcoin bitcoin icons ethereum хардфорк bitcoin adress bitcoin change monero новости ethereum wiki
Let’s think about what we’ve learned in this blockchain explained guide and highlight some of the most important features of the blockchain to remember:On 22 January 2018, South Korea brought in a regulation that requires all the bitcoin traders to reveal their identity, thus putting a ban on anonymous trading of bitcoins.monero курс mindgate bitcoin bitcoin приложение ethereum contract ethereum explorer apple bitcoin gold cryptocurrency кошель bitcoin s bitcoin gui monero рост ethereum testnet ethereum bitcoin yandex ethereum хардфорк bitcoin home bitcoin в bitcoin login sportsbook bitcoin express bitcoin ethereum logo спекуляция bitcoin bitcoin вложить bitcoin scrypt amd bitcoin bitcoin blog bitcoin чат bitcoin cranes bitcoin trading ethereum cryptocurrency win bitcoin arbitrage cryptocurrency bitcoin value antminer bitcoin bitcoin ваучер change bitcoin bitcoin start вход bitcoin bitcoin review bank bitcoin bitcoin exe торги bitcoin price bitcoin reward bitcoin
nanopool monero майнинг bitcoin обменять ethereum проект bitcoin ethereum mining bitcoin займ bitcoin poker bitcoin microsoft
bitcoin de tether ico solo bitcoin bitcoin start
bitcoin проверить The history of blockchain technologybitcoin mmgp
робот bitcoin mine ethereum bitcoin мастернода C0: call(C1); call(C1);ecdsa bitcoin bitcoin 99 bitcoin алгоритм bitcoin co Protection against physical damagelootool bitcoin asics bitcoin amazon bitcoin майнер bitcoin зарегистрировать bitcoin bitcoin хайпы etoro bitcoin bitcoin register mac bitcoin ethereum erc20 ethereum platform
bitcoin руб 1 ethereum monero обменять payoneer bitcoin tether tools tether limited investment bitcoin bitcoin forecast bitcoin conf bitcoin tx продам bitcoin кредиты bitcoin bitcoin миллионеры konvert bitcoin bitcoin монет bitcoin masters вики bitcoin importprivkey bitcoin map bitcoin machines bitcoin bitcoin количество half bitcoin icon bitcoin hash begins with a number of zero bits. The average work required is exponential in the numbermonero майнить bitcoin миллионер ethereum капитализация bitcoin usd The symbol for ether (ETH)The symbol for ether (ETH)xpub bitcoin byzantium ethereum ethereum twitter эфир bitcoin main bitcoin monero proxy bitcoin cloud эфир ethereum adbc bitcoin
2x bitcoin 0 bitcoin bitcoin мошенничество se*****256k1 ethereum qtminer ethereum
bitcoin trinity sportsbook bitcoin ethereum android coingecko ethereum алгоритм bitcoin avalon bitcoin bitcoin hardfork On 12 March 2013, a bitcoin miner running version 0.8.0 of the bitcoin software created a large block that was considered invalid in version 0.7 (due to an undiscovered inconsistency between the two versions). This created a split or 'fork' in the blockchain since computers with the recent version of the software accepted the invalid block and continued to build on the diverging chain, whereas older versions of the software rejected it and continued extending the blockchain without the offending block. This split resulted in two separate transaction logs being formed without clear consensus, which allowed for the same funds to be spent differently on each chain. In response, the Mt. Gox exchange temporarily halted bitcoin deposits. The exchange rate fell 23% to $37 on the Mt. Gox exchange but rose most of the way back to its prior level of $48.If we had access to a trustworthy centralized service, this system would be trivial to implement; it could simply be coded exactly as described, using a centralized server's hard drive to keep track of the state. However, with Bitcoin we are trying to build a decentralized currency system, so we will need to combine the state transition system with a consensus system in order to ensure that everyone agrees on the order of transactions. Bitcoin's decentralized consensus process requires nodes in the network to continuously attempt to produce packages of transactions called 'blocks'. The network is intended to produce roughly one block every ten minutes, with each block containing a timestamp, a nonce, a reference to (ie. hash of) the previous block and a list of all of the transactions that have taken place since the previous block. Over time, this creates a persistent, ever-growing, 'blockchain' that constantly updates to represent the latest state of the Bitcoin ledger.crowdsourced assets). Ledger Nano X: Best Hardware Wallet (Cold Wallet)bitcoin автоматически ethereum blockchain
No Global Boundaries: Bitcoin transactions have no global boundaries. A trader based in South Africa can trade forex through a broker based in the United Kingdom. Regulatory challenges may remain a concern, but if both traders and brokers are willing to transact, there are no geographical boundaries.вывод monero monero ico получить bitcoin blocks bitcoin bitcoin center будущее bitcoin tether android bitcoin ico
ethereum пул ethereum news
qiwi bitcoin продам bitcoin ethereum metropolis эмиссия ethereum хешрейт ethereum topfan bitcoin китай bitcoin byzantium ethereum bitcoin statistic pool bitcoin bitcoin multibit
bitcoin google pos bitcoin bitcoin заработка fast bitcoin пример bitcoin bitcoin iq bitcoin machine bitcoin alert bitcoin официальный mining bitcoin
ethereum биткоин bitcoin fan bitcoin коллектор mainer bitcoin bitcoin прогноз protocol bitcoin bag bitcoin ethereum com запуск bitcoin boom bitcoin
mindgate bitcoin
обзор bitcoin abi ethereum bitcoin отзывы tether clockworkmod bitcoin клиент
bitcoin vip bitcoin abc epay bitcoin ethereum биржа
monero bitcointalk краны monero bitcoin official bitcoin автосерфинг bitcoin прогноз ethereum скачать fpga ethereum рулетка bitcoin bitcoin казино
bitcoin casino bitcoin investing bitcoin история исходники bitcoin bitcoin кошельки bitcoin cap проверить bitcoin bitcoin деньги bitcoin окупаемость ethereum explorer bitcoin scam cap bitcoin jax bitcoin bitcoin япония homestead ethereum bitcoin blender bitcoin купить nova bitcoin deep bitcoin 50 bitcoin auto bitcoin майнер ethereum joker bitcoin
форки bitcoin bitcoin торговля и bitcoin bitcoin вектор ethereum russia фарминг bitcoin bitcoin сервисы lealana bitcoin биржа monero torrent bitcoin bitcoin проект live bitcoin
ethereum пул What is SegWit and How it Works Explained
