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FiatMarketCap
- taylorfinley 5y agoPerhaps I'm guilty of being US-centric in my views but I was truly surprised to see this list show that CNY has more 'market cap' than USD.
- jeppebemad 5y agoWith China’s population being more than 4 times that of the US, I would find you guilty as charged, on the basis of not considering the possibility :)
- Armisael16 5y agoI think it is surprising. The US has a larger nominal GDP (which is what matter for this calculation), and USD is also rather unique as the global reserve currency. 60% of USD are held outside the US. These stats would seem to indicate that either CNY moves much more slowly than USD (which would also surprise me) or that there are also colossal reserves of CNY outside of China (which I believe the Chinese government is actively working to prevent with capital controls?). Population isn’t that big a factor. India has 36x as many people as Canada, but INR and CAD have about the same total cap.
- z2trillion 5y agoI think the site is reporting M2 for each of the currencies, which includes much more than just the bills + coins. E.g. the value of all USD coins + bills is "only" $2.1 trillion [1] vs. an M2 that's 10x larger. The 60% of all USD are held overseas statistic only applies to coins + bills and not M2 [2]. An explanation could be that people in Chinese save more and keep more of their savings in banks, compared to Americans? [1] "Currency in circulation" in https://www.federalreserve.gov/releases/h41/20210506/ https://www.federalreserve.gov/releases/h41/20210506/ [2] https://www.bullionstar.com/blogs/jp-koning/how-much-u-s-currency-is-held-overseas/ https://www.bullionstar.com/blogs/jp-koning/how-much-u-s-cur...
- garyclarke27 5y agoYes these stats don't make sense, I don't believe them. US Nominal GDP is way higher than China plus USD is still the world's reserve currency ie has massive usage outside the US.
- bordercases 5y agoFrom what I understand it isn't dollars that dominate global exchange but dollar denominated assets and instruments.
- mrslave 5y agoIMF recently reported that China's economy has already surpassed USA by annual GDP when measured in purchasing power parity (PPP) - as opposed to market exchange rates (MER). [0] I don't pretend to understand this much further so I welcome comments from anyone who does. [0] https://nationalinterest.org/feature/china-now-world%E2%80%99s-largest-economy-we-shouldn%E2%80%99t-be-shocked-170719 https://nationalinterest.org/feature/china-now-world%E2%80%9...
- Armisael16 5y agoPPP is totally irrelevant for this discussion.
- dtwest 5y agoAccording to the Federal Reserve, China's money supply is larger than the US. GDP levels don't directly map into money supply. https://fred.stlouisfed.org/series/WM2NS https://fred.stlouisfed.org/series/WM2NS https://fred.stlouisfed.org/series/MYAGM2CNM189N https://fred.stlouisfed.org/series/MYAGM2CNM189N The more interesting theoretical question here is whether BTC should be compared to M1 or M2 (or another metric entirely).
- delaaxe 5y agoChina's monetary expansion policy has been way more aggressive than the US's.
- _marlowe_ 5y agoIt would be more interesting to see this indexed against each country's respective population
- saltdoo 5y agoSeeing fiat currencies rasked this way is quite eye opening!
- ahmedfromtunis 5y agoFor my country, Tunisia, the circulating supply reported by the central bank as of may 17th 2021 was 16.4 billion dinars. The website reports only 97.5 million dinars. Source: https://www.bct.gov.tn/bct/siteprod/indicateurs.jsp?la=AN https://www.bct.gov.tn/bct/siteprod/indicateurs.jsp?la=AN
- Meniteos4 5y agoI'm surprised that CNY is ranked higher than USD. How do you measure these metrics? Also, taken aback that USD is almost half of CNY's market cap.
- delaaxe 5y agoIt's pretty obvious it's measured in BTC
- mandelbrotwurst 5y agoThe person you’re replying to is asking about the source of the values, not their units.
- rahimnathwani 5y agoThis site compares M0 for Bitcoin with M2 or M3 for other currencies. This is not a fair comparison.
- HDMI_Cable 5y agoThis website seems pretty biased to show national currencies in a bad light and bitcoin in a good one.
- mandelbrotwurst 5y agoBiased in what way?
- imtringued 5y ago"Max Supply Unlimited" for every currency except Bitcoin. It's superfluous information. It only exists to hint that Bitcoin is "different" (aka superior).
- hndamien 5y agoSeems relevant if you have a choice. If it isn't untrue, then I don't see a great problem.
- lostmsu 5y agoFor the fiat to satoshi column it would make sense to use "undivisible" units of the fiat. For example, Korean won is only 2 satoshi, but AFAIK the minimal banknote is 1000 won. That is unlike Russian ruble, for example, which has 1 ruble coins in pretty active use. I think the column would be more insightful this way.
- jl2718 5y agoShould this use M0? These numbers are more like boaUSD, citiUSD, wfUSD, meaning non-reserve deposits in a protocol.