How big is bitcoin, really? This chart puts it all in perspectivesteemCreated with Sketch.

in #steemit7 years ago


 Bitcoin burst into our financial consciousness like a fiery comet,  setting the internet ablaze with visions of upending the existing global  money system. Yet, by its nature as a cybercurrency, whose legitimacy  only exists in the ether, its credibility leaves much room for debate.  HowMuch.net  on Wednesday put things into perspective and demonstrated that for all  the buzz and excitement bitcoin has generated, it still has a long way  to go to be even remotely relevant.  The current value of all the bitcoin in the world is worth about $41 billion, according to the cost-estimating website.  That  is undoubtedly more money than most Americans will ever see in their  lifetime. But when it comes to bragging rights, bitcoin really is the  poor relation.   Also see:  Teenage bitcoin millionaire can see the cryptocurrency’s value shooting as high as $1 million  As  the HowMuch chart shows, the fattest bubble is for all the money in the  world — including bank deposits — which comes out to $83.6 trillion.
The  second biggest is for all the stocks trading across the globe, totaling  $66.8 trillion, and more than double all the physical money in the  world.  “A run towards or away from stocks would thoroughly  deregulate the global economy, and nothing more dramatic than a minus  sign in front of that amount would lead to the collapse of global  civilization,” said Raul Amoros at HowMuch.net. For all its  glitter, the total value of gold is a distant fourth, at only about $8.2  trillion, while U.S. dollars in circulation add up to $1.5 trillion.  The next bubble is for Apple Inc.                                                                                                                                                                                                                                                                                                                                                                             at $402 billion.                                                                                                                                                          as the monetary representation  of the biggest economy in the world is also the reserve currency of  choice for many foreign governments.  As of yet, bitcoin does not enjoy that level of respect given its wild swings recently.  Nonetheless, the rise of cryptocurrencies in of itself suggests that  people may be slowly losing faith in money and other traditional  measures of wealth, according to Amoros.  

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Yeah very awesome post, the bitcoin chart is going up to the mars!

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