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Re: Is Bitcoin the future of the global economy or just another commodity like Gold?
Digital currencies would more likely be the future but we are lacking assurance that it would be bitcoin that will represent what future would look like, since there are other digital currencies being more widely used by this time. It would mainly depend on how will its futher developments become.
Digital currencies aren't the future, they are the present - online banking and internet payment companies were around for decades. Yes, they use existing fiat currencies, and it's okay, there's no reason to create a brand new currency if you can use the existing and well-adopted one. Of course it doesn't apply to crypto, because you can't really put an existing currency on a decentralized blockchain, all stablecoins will always be centralized.
I'm referring to the cryptocurrencies, not fiat digitally produced currency.
Re: Is Bitcoin the future of the global economy or just another commodity like Gold?
Bitcoin can never be a commodity, commodities by definition have some sort of industrial utility, and Bitcoin was created to be digital money. So, you are comparing very different things when you ask about Bitcoin being a future of global economy, because it has nothing to do with definition of Bitcoin.
As for the first part of your question, it's very unlikely that Bitcoin will become "the future of the global economy", the adoption rate is extremely slow, and governments can easily reduce adoption if they will feel threatened by Bitcoin. But this doesn't mean that Bitcoin is losing or that it is useless, millions of people find it useful.
As for the first part of your question, it's very unlikely that Bitcoin will become "the future of the global economy", the adoption rate is extremely slow, and governments can easily reduce adoption if they will feel threatened by Bitcoin. But this doesn't mean that Bitcoin is losing or that it is useless, millions of people find it useful.
By the future of the global economy, I' referring to the financial aspect of the economy. Of course, it will not replace real-life commodities.
And Bitcoin is useful, that I agree with. Having 1 unified coin to serve the entire world will make a tremendous change, maybe even change the balance of powers between nations.
Re: Is Bitcoin the future of the global economy or just another commodity like Gold?
So my question is, is it really the future of the economy? or just the "new gold"? 
and bypasses the need for a 3rd party
but will it really bypass the need? I mean, the need for 3rd party is not a part of any structural need, but a psychological need (fear). People started using 3rd parties as a way to keep their money safe crossing bridges etc in the old days. It wasn't a government need until the public "demanded" that (with actions). Won't it be the same with Bitcoin? people will need to find a way to protect their wallets, and 3rd parties will jump on the opportunity.
BTW, I couldn't find where to move the topic to "economy". Is it possible that you'll screenshot it for me?
Is Bitcoin the future of the global economy or just another commodity like Gold?
⭐ Merited by Upgrade00 (1)
So lately I've been thinking about the global financial economy and the way it works. 
During my BA, I had a course with a professor that played a very high role in the central bank of Israel.
I asked him "Is the bank preferring for the day after the economy will collapse?" the answer he gave me was not clear. I saw him struggling to answer that.
But when I examine Bitcoin and other crypto coins, I see it not as a replacement of money, but just as a replacement of the central bank money printing. Because eventually, we'll all look for a place to keep our money safe (a bank) and someone to give us a loan on occasion.
So my question is, is it really the future of the economy? or just the "new gold"?
During my BA, I had a course with a professor that played a very high role in the central bank of Israel.
I asked him "Is the bank preferring for the day after the economy will collapse?" the answer he gave me was not clear. I saw him struggling to answer that.
But when I examine Bitcoin and other crypto coins, I see it not as a replacement of money, but just as a replacement of the central bank money printing. Because eventually, we'll all look for a place to keep our money safe (a bank) and someone to give us a loan on occasion.
So my question is, is it really the future of the economy? or just the "new gold"?
dude what you are seeing is "volume" not "market capitalization"!
your question doesn't even make sense! market cap means circulating coins multiplied by the price.
if you want to figure out what is the "biggest crypto market" then you need to check out how much volume is coming out of each exchange located in different countries with different main currency. although that alone is not accurate but it is a start.
here is a good source: https://data.bitcoinity.org/markets/volume/6m?c=c&t=ae
which shows USD is the dominating one, JPY is the second.
ps. I said it is no accurate on its own because sometimes exchanges report fake volumes. sometimes they have 0 fees which adds to their volume to unrealistic levels, sometimes sources like bitcoinity don't list all the exchanges so they may report some volumes so much lower than reality.
pps. also remember that USD being dominance doesn't mean US is dominant. because USD is used by so many other countries that do not have an exchange themselves. for example third word countries that are using bitfinex to trade use USD instead of their own currency or other fiat such as JPY, EUR,.... so it adds to USD volume.
your question doesn't even make sense! market cap means circulating coins multiplied by the price.
if you want to figure out what is the "biggest crypto market" then you need to check out how much volume is coming out of each exchange located in different countries with different main currency. although that alone is not accurate but it is a start.
here is a good source: https://data.bitcoinity.org/markets/volume/6m?c=c&t=ae
which shows USD is the dominating one, JPY is the second.
ps. I said it is no accurate on its own because sometimes exchanges report fake volumes. sometimes they have 0 fees which adds to their volume to unrealistic levels, sometimes sources like bitcoinity don't list all the exchanges so they may report some volumes so much lower than reality.
pps. also remember that USD being dominance doesn't mean US is dominant. because USD is used by so many other countries that do not have an exchange themselves. for example third word countries that are using bitfinex to trade use USD instead of their own currency or other fiat such as JPY, EUR,.... so it adds to USD volume.
Bro, I know! If you read my post again, you'll notice that I've checked Bitcoinity and it just added to my confusion because I noticed that JPY is second to USD by far (almost X6), which contradict the CrytoCompare theory that started my confusion. So we actually agree
No i don't think the JPY market cap could be higher than USD . USD is the worldwide using currency in the world and it's the number one at this moment.
That was my thoughts exactly, and the reason for this post.
Meanwhile, I've been doing some exploring and it seems that there is no truth in the news. USD seems to be the market leader by far.
According to CrytoCompare, JPY market cap exceeds USD, what basically means that Japan is the biggest crypto market in the world. After browsing CoinMarketCap, Bitcoinity and other websites, I could not confirm that fact.
Can someone please help me understand if I'm mistaken, or is that just "fake news" to help CryptoCompare get viral?
Can someone please help me understand if I'm mistaken, or is that just "fake news" to help CryptoCompare get viral?