[2019-07-19] Bitcoin is a ‘Demographic Mega-Trend’ Survey Concludes

cr1776

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Quote from: o_e_l_e_o on July 20, 2019, 11:55:07 AM

I'm most interested by the rise from 19% to 27% of those who are "very" or "somewhat" likely to purchase bitcoin, especially when you consider the timings of the two surveys.
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It is also unlikely to capture some people. For example, if I were asked the question if I was ' "very" or "somewhat" likely to purchase bitcoin ' the answer would be "no". There should be another option asking whether one already owns bitcoin.

The more people interested and likely to purchase bitcoin, the better for everyone whether they own bitcoin or not. A crypto (with some eventual improvements for things like anonymity) like bitcoin helps everyone because it gives an escape valve and additional market signal for people who see that when the central banks define "stability" as 2-3% inflation per year, one loses half the value of their fiat every ~24-35 years. This benefits the world because it helps to keep central banks and statists politicians in check.

Or at minimum gives people the ability to escape these politician created cesspools.

cr1776

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Quote from: Slow death on July 19, 2019, 12:34:27 PM

Young people like technology, they are born at a time when technology is evolving every day, and it is expected that the young people will lead this research. look at the ages and life histories of the politicians who have spoken bad about bitcoin and talk about create tough regulations for the purpose of money laundering. you will noticed that they are old or are people that born in a time where technology was still very primitive. if 90 percent of the politicians and governments were led by the young people I believe we would see coins like bitcoin being used around the world and the technology would be more evolved and even the war would be reduced.

Seems rather unlikely, at least in the US. A huge percentage of the "young people" believe in socialism (or communism, or fascism even when they call themselves "antifa").

Bitcoin - and the freedom that comes with being able to control your money without having the value inflated away at the whim of a politician - at its root is money that is anti-statist and anti-authoritarian. When the politicians can't control the money, they can't control the people and when they can't control the people, they can't impose their wants on everyone else and expect everyone else to fund them.

The socialist leaders now doubt would like bitcoin so that they can hide the money they skim from everyone else there, but they won't allow the "masses" of people to have that freedom. It is the usual "do as I say, not as I do" mentality: flying on jets between their multiple houses while telling everyone else to conserve (aka Bernie).

What age is "old"? Curious.

BitHodler

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Quote from: hatshepsut93 on July 19, 2019, 10:24:50 AM

I would say that it's even a good thing that old people stay away from Bitcoin, they would be so likely to lose it as their computers are often ridden with malware and they very likely to click on spam emails or phishing links on search engines.

That's a good point. I have seen various local cases of elderly people lost thousands of euros because they were directed to a malicious site with the exact same interface as their online banking portal.

In these cases, even though it's their own fault for losing money, the bank refunded them in full. This form of centralized banking is what offers not only elderly people, but you and me too, a peace of mind because we know we will not lose a penny.

This is where crypto in general lacks hard. In order to transact with Bitcoin, especially when it concerns large amounts, you have to be sure everything is safe and sound before actually initiating a transaction.

1Referee

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Quote from: pixie85 on July 19, 2019, 05:16:05 PM

I wouldn't expect more from 70 year old people who associate a bank with a big steel vault filled with bags of money.

It also comes down to risk tolerance. At the age of 60 and up people are more interested in wealth preservation rather than following the latest tech developments and potentially make a buck out of it. If you lose money at such an age, it's very likely lost for ever. In other words, the older generation is thinking through every step they set two or three times before they spend anything.

The younger generation on the other hand isn't as risk averase. For them it's quite easy to recoup losses if they give it a year or two. The consequences are negligible in this case, which can't be said about the older generation.

o_e_l_e_o

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I'm most interested by the rise from 19% to 27% of those who are "very" or "somewhat" likely to purchase bitcoin, especially when you consider the timings of the two surveys.

The first (19%) was performed in October 2017. The preceding 6 months of 2017 saw a nice steady rise from around $1,000 to around $5,000. There was a ton of hype on various places online, and bitcoin was looking very bullish. In contrast, the second survey (27%) was performed in April 2019. The price was also around $5,000, but this time on the back of 6 months of more or less sideways movement in the context of a prolonged bear market, and it wasn't clear in April whether we were going to break upwards or downwards.

To have an real increase of 8% and a relative increase of ~42% despite the much worse looking market says a lot more than the raw numbers suggest.

buwaytress

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Quote from: squatter on July 19, 2019, 03:40:40 PM

Ages 18-34 is an awfully large group. I'd be curious to see a more detailed breakdown of opinions among those in their 30s vs. 20s vs. teens. We all know that Bitcoin is popular among millennials -- nothing new there. I'm really curious what the next generation has to say. Some of Generation Z are in their late teens and early twenties already. I wonder how they compare to millennials.

Yeah, I felt like it was forever I was in that age group, still a bit weird to have to choose a different category now when I do, heh.

And you got to wonder who builds these age groups, because I would think it's precisely the younger ones who do the grunt work, and then they would be the first to know that an 18 yr-old's opinion widely differs from a 30 yr old. It is a big generation gap when it comes to tech. We're talking about someone born after the internet, and someone born before.

Arkham Knight

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Quote from: pixie85 on July 19, 2019, 05:16:05 PM

One look at this survey and the most important thing it's telling us is that older means less interested in bitcoin. Young people are less brainwashed by years of living without basic freedoms and with stupid bankers telling them they need a credit and that money is safest in a bank.

I wouldn't expect more from 70 year old people who associate a bank with a big steel vault filled with bags of money.

If I was also 60 or 70 year old, I'm sure my reaction to bitcoin would be also be the same. Many of the old people I know still stick to the things that they are used to even though that there are already technologies that exist to make things better for them. They are very stubborn if you force them to use it like using applications on smartphones. But the most significant thing is that we got most of millennials in favor of bitcoin.

CryptoBry

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This is now the kind of future that cryptocurrency is holding as the best secret to its longevity and massive adoption. Bitcoin, for sure, will be the top cryptocurrency that the younger generations will be choosing. When these young people will be enjoying bigger purchasing power, many of them will be turning to Bitcoin as an alternative investment tool which in turn can drive the price of the digital gold into stratosphere. The future is indeed looking good for Bitcoin and even the rest of the cryptocurrency market (sans the man scams still going around).

pixie85

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One look at this survey and the most important thing it's telling us is that older means less interested in bitcoin. Young people are less brainwashed by years of living without basic freedoms and with stupid bankers telling them they need a credit and that money is safest in a bank.

I wouldn't expect more from 70 year old people who associate a bank with a big steel vault filled with bags of money.

squatter

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STOP SNITCHIN'

Ages 18-34 is an awfully large group. I'd be curious to see a more detailed breakdown of opinions among those in their 30s vs. 20s vs. teens. We all know that Bitcoin is popular among millennials -- nothing new there. I'm really curious what the next generation has to say. Some of Generation Z are in their late teens and early twenties already. I wonder how they compare to millennials.

Slow death

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Young people like technology, they are born at a time when technology is evolving every day, and it is expected that the young people will lead this research. look at the ages and life histories of the politicians who have spoken bad about bitcoin and talk about create tough regulations for the purpose of money laundering. you will noticed that they are old or are people that born in a time where technology was still very primitive. if 90 percent of the politicians and governments were led by the young people I believe we would see coins like bitcoin being used around the world and the technology would be more evolved and even the war would be reduced.

hatshepsut93

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Not surprising that young people are more likely to own/be interested in Bitcoin than old people - this is a general trend in any technology. I would say that it's even a good thing that old people stay away from Bitcoin, they would be so likely to lose it as their computers are often ridden with malware and they very likely to click on spam emails or phishing links on search engines.

Jgilpulg

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The survey inquired about a wide range of attributes: awareness, familiarity, perception, conviction, and propensity to buy the cryptocurrency. Additionally, researchers studied Bitcoin preference rates and BTC ownership.

https://bitcoinist.com/bitcoin-is-a-demographic-mega-trend-survey-concludes/

Topic: [2019-07-19] Bitcoin is a ‘Demographic Mega-Trend’ Survey Concludes (Read 207 times)