At the time of writing, Bitcoin has surpassed the Swiss franc (CHF) in market capitalization as the thirteenth largest currency in the world, according to data from Fiatmarketcap.com. There are only 12 world currencies left to beat Bitcoin.
Fiatmarketcap.com adopts a bitcoin standard method for analyzing currencies. It measures the world’s largest currencies in terms of market capitalization that are priced in BTC, the best form of money ever created but still lagging behind in perception.
The website uses BTC as a measure of countries’ gross domestic product (GDP), which ranks Bitcoin in 18th place.
As the world begins to recognize almost all aspects of a good money such as the superiority of BTC, such as durability, portability, verifiability, divisibility and scarcity. As time progresses and Bitcoin acceptance increases, it has established a more well-established history of success, which makes it a wider application for use.
Thinking right now in terms of bitcoin, people can rearrange incentives to manage their economic decisions. As money supply increases indefinitely, so does inflation and so does price, leading to a distorted view of economic reality based on opinions expressed by free market prices.
A bitcoin standard has the potential to restore the confidence of market participants in the overall prices used in the economy. Since a BTC cannot be frustrated by a loose monetary policy run by corrupt people, the assurance of retaining purchasing power allows for a reorganization of economic incentives.
In the fiat system based on debt, people are discouraged from saving and encouraged to take on debt, never giving up the option to spend later. In a bitcoin economy, people will not rush to spend their money because they have the assurance that their purchasing power will be preserved in the long run.