Even at their recent peak, the CryptoAssets combined global market value was less than 1% of Global GDP. In comparison, just prior to the global financial crisis, the notional value of Credit Default Swaps was 100% of Global GDP..!!
Cryptocurrency News: #Investors-Group
Credit: CoinTelegraph
G20 Finance Ministers and Central Bank Governors, gather for the summit starting Tuesday March 20
Earlier on I was scanning my news feeds and came across this great article by CoinTelegraph that I thought I would share with you.
Credit to CoinTelegraph for the content in the article.
For the ones that may have missed it here, is the link...
https://cointelegraph.com/news/bitcoin-price-jumps-1k-after-carney-tells-g20-crypto-does-not-pose-risk
Credit: CoinTelegraph
Credit: CoinTelegraph
Credit: CoinTelegraph
#CryptoCurrency Market relative to the Global System
To put things into perspective just how tiny the #CryptoCurrency Market actually is in relative to the Global System, I thought I would highlight this comment.
Even at their recent peak, the CryptoAssets combined global market value was less than 1% of Global GDP. In comparison, just prior to the global financial crisis, the notional value of Credit Default Swaps was 100% of Global GDP..!!
CryptoAssets vs CryptoCurrencies
One other thing that I also wanted to highlight was the use of the term "CryptoAssets" as oppose to "CryptoCurrencies".
For a while now I have been telling investors that really these CryptoCurrencies are actually CryptoAssets and should be treated as such.
This was highlighted in a recent presentation I made on the 8th Feb 2018 during a Live Webinar Event to a group of traders and investors.
For the ones that may have missed it, here is the opening slide and title I decided to go with for the presentation.
CryptoAsset Market - Approx $320 billion
With a current Market Valuation of approx $320 billion, the CryptoAsset Market is relatively small at the moment and at less than 0.5% of Global GDP poses little threat to the Global Financial System.
I guess this will change in the future thanks to #Blockchain and the Distributed Ledger Technology when it stands at over $50 trillion and represents over 75% of Global GDP.
Until then, we just have to keep chipping away at the current antiquated, obsolete, garbage, manipulated and corrupt Financial System that is still stuck in the 1970's..!!
Thanks again for reading.
Stephen
Crypto currency is a gem hidden and discouraged by the government cause it can challenge them, the only thing left is to know how to carve it into a more precious gem if you you have the patience, this is exactly what is happening, people’s patience ia being tested and the government is laughing behind the mask on the impatience ones. It should ne treated as an assets very valuable which doesn’t depreciate but its value will only keep on appreciating. Plus considering the fact that crypto currency hasn’t been around long enough compared to money which has been around for centuries, given the fact it’s astonishing and mind boggling how far it will go in just a small amount of time.considering the time taken by money its not even a fraction. Future here is bright. Thanks gor sharing @stephenkendal keep it up and do what you do best.best of luck for the show and it’s preparation.
Also the US GDP is "per year" while the crypto market is a constant value over time. It's still a drop in the bucket.Remember that the internet bubble didn't pop until 2.2 trillion in 90's dollars.EDIT: should also be noted that those 2.2 trillion dollars would be almost double the price in 2017 dollars. Also the Dot-com bubble was localized in the west while cryptocurrency is a global phenomenon. Plus the world economy is almost 4x as big in 2017 than it was in 1990.Thus assuming cryptocurrency is a bubble and it will behave the same as the dot-com bubble it will grow to about ~40 trillion before popping. Of course this is assuming it is a bubble and will behave the same way as the dot-com bubble.And remember even if it's a bubble. Google and Amazon were born in the dot-com bubble and are some of the biggest companies in the world right now. What giants of the future are born right now in cryptoland?
Good News for Cryptos!...:)...
Very detailed information, crypto currencies shouldn’t be banned , because it is the future . Imagine a world where everything is decentralized, the world of blockchain. As long as blockchain exists so will crypto currency.
Imagine we can see the frauds our so called leaders had completed.
Crypto currency in my own understanding and philosophy is the future , it could only be regulated and never be banned .
Thanks for sharing stephen
thats really amazing news for the day and im sure if crypto been introduced worlwide as a safe and reliable the GDP will boost out for sure even in 1% GDP it's manage it's place on market and take a huge part on financial system...
as we can see crypto being victimized from many countries and the media it never upsets its investor and always has come with a better come back with good return @stephenkendal
This is all just to create tension among people against the cryptocurrency and cryptoassests as it is taking the place of financial place and government and corrupted leaders and rich people are worried about it..This why they are creating fake data,fact and news of cryptocurrency so that people back uo but people are well aware of it and they won't afraid of it as blockchain ledger clearly showing true financial status of cryptocurrency market with reference to GDP.. Thanks @stephenkendal for presenting the truth among us!
This show that fundamental analysis is affecting cryptocurrencies now due to unfavorable news, but I believe there is going to be an improvement in cryptocurrencies, and it will be globally acceptable.
wow that's really an amazing new im feel relief after so long dressings wait of bitcion .... this news is really a great news for now and it's very true that it's just relative of financial system which is jusy giving a big hands of help to the financial system ..
also it's the generator of opportunities in financial world the old also its take a huge part on GDP ....
it's also the modification to the better financial system to be supported for this modern world of finance which was really need to get some changes..
thank you for the information @stephenkendal
Great post..Loved the amazing information..Oh that is great and it didn't shocked me as there is 7 billion people in this world and almost i think only about 1 billion people know about it and less than 50 million has invested in it, So after the price higher of CryptoAssets it not equal to even 1 percent Global GDP..Many big country like china has banned the cryptocurrency in which almost 2 billion population is..Thank you so much for amazing information..@stephenkendal I am thinking it will have great future it's hope it..
I thought that $18 Trillion was the market cap for the NYSE. Are those two numbers coincidentally the same number?
Wait, I decided not to be lazy and to look it up. US National debt is $20.5 trillion. US GDP is $18.5 trillion. NYSE market cap is $21.0 trillion.
All numbers are fairly similar. Also, all numbers are approximate. But who's counting, when you're throwing around $500 billion here and there?