2% is far from insignificant! argentina's gdp is less than 1% of the world's—as are each of switzerland, taiwan, belgium, israel, south africa, pakistan, new zealand, nigeria, greece, and hungary. if the advent of cryptocurrencies has added a new power to the world stage of the same order of magnitude as taiwan, pakistan, or nigeria, that's a momentous event—particularly since it's doing it by giving tens of millions of the world's poorest people relief from terrible governance
(funding universal public access to history's biggest library despite prohibitions from the world's greatest powers seems significant, too. you've been in india, you know what library access is like outside the rich world, and you're surely aware that sci-hub and libgen have had a huge positive impact even inside the rich world)
in the infographic, the m1 money supply is about four months of world gdp, 35 trillion dollars, and that seems like the most nearly equivalent thing in the list to compare bitcoin to. it's about 3%. if we assume that countries' money supply is close to proportional to their gdp, that would make bitcoin the 8th largest world currency, following the euro, the us dollar, the yuan, the yen, the indian rupee, the pound, and the brazilian real. it would beat the canadian dollar, the russian ruble, and the other 150 or so national currencies, going by https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nomi...
if we use the m2 money supply instead, bitcoin is about 1% of it and drops to about 15th
on the opposite end of the scale, supposedly there are two or three thousand billionaires in the world; bitcoin distribution is widely considered to be highly inequitable, and so it may have added a few dozen or a few hundred to that number. considering the historical impact of certain individual billionaires like andrew carnegie, george soros, john d. rockefeller, and leland stanford, that seems like it might also be important
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† world gdp is 110 trillion dollars per year; if corporate profits are 10% of that, that'd be 11 trillion dollars per year of profits, and you'd expect share prices to average around 20 years of profits, which would be 220 trillion dollars, much higher than the 89.5 trillion dollars in the infographic. perhaps outside the usa corporate profits are much lower, or investing in the stock market is much riskier? it's certainly riskier here
