[2019-10-26] Crypto Owners in US Have Risen 81% YTD - page 2.

hello_good_sir

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Quote from: squatter on October 26, 2019, 02:04:43 PM

Quote from: Jgilpulg on October 26, 2019, 09:43:33 AM

Many countries are starting to understand the importance of Bitcoin and its blockchain technology. The U.S. is not necessarily one of them. However, the number of Americans holding the cryptocurrency is increasing.

https://bitcoinist.com/crypto-owners-in-us-have-risen-81-ytd/

I'd be curious to see who they surveyed. All I can find is this:

Quote

...according to a survey of 2,068 participants commissioned by Finder.

14.4% of Americans seems awfully high to me. I wouldn't be surprised if the results are skewed because the respondents weren't representative of the population. Some demographics will definitely have a higher propensity to use Bitcoin -- Millennials, internet users, etc.

Exactly what I was thinking - going through a sample size of 2,000 people isn't a lot at all and can easily be inaccurate with a lot of factors, age, location even (people in New York will probably be more interested in Bitcoin then in other cities) and I don't think anyone should be using this metric as something really accurate.

Quote from: stompix on October 26, 2019, 06:47:33 PM

Quote

As a result, about 36.5 million Americans own some form of crypto asset.
The Profile survey also revealed that Americans holding crypto assets have an average of $5,447 in digital coins

Hmmm, 36.5m x5.447 $= 198 billion, total market cap of all coins is 234 billion, ...Satoshi owns another 10 billion...
Yeah, legit!

Lol, nice catch mate!

These statistics are very skewed and a more accurate survey that has people from all the regions if America, in different age groups and a fair range of internet users would be much more accurate and these previous studies are just estimates...

squatter

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Quote from: stompix on October 26, 2019, 06:47:33 PM

Quote

As a result, about 36.5 million Americans own some form of crypto asset.
The Profile survey also revealed that Americans holding crypto assets have an average of $5,447 in digital coins

Hmmm, 36.5m x5.447 $= 198 billion, total market cap of all coins is 234 billion, ...Satoshi owns another 10 billion...
Yeah, legit!

Good catch. Some respondents obviously overstated their holdings. Cheesy

Quote from: mobile4ever on October 26, 2019, 06:31:04 PM

I also heard that Milennials are also more likely to think positively about Bitcoin than boomers. This should make adoption go through the roof at the next recession.

They are, but I'm not convinced that'll improve Bitcoin's prospects during a recession. Millennials are largely the people buying bitcoins. When they're losing their jobs because of the recession and can't pay their rent, what are they going to do -- buy more bitcoins? No, they'll probably be net sellers instead.

stompix

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Blackjack.fun

Quote

As a result, about 36.5 million Americans own some form of crypto asset.
The Profile survey also revealed that Americans holding crypto assets have an average of $5,447 in digital coins

Hmmm, 36.5m x5.447 $= 198 billion, total market cap of all coins is 234 billion, ...Satoshi owns another 10 billion...
Yeah, legit!

mobile4ever

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I also heard that Milennials are also more likely to think positively about Bitcoin than boomers. This should make adoption go through the roof at the next recession.

sikke

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But what is the true percentage of ownership?

That is the question to ask, imo.

Just because the amount of crypto owners is increasing doesn't mean that adoption is actually increasing for bitcoin as a currency. If people are only treating bitcoin as a speculative asset, then this statistic is really pointless.

Even holding BTC in the long run is far greater than just speculating on price movement in the short term from an adoption standpoint.

squatter

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Quote from: Jgilpulg on October 26, 2019, 09:43:33 AM

Many countries are starting to understand the importance of Bitcoin and its blockchain technology. The U.S. is not necessarily one of them. However, the number of Americans holding the cryptocurrency is increasing.

https://bitcoinist.com/crypto-owners-in-us-have-risen-81-ytd/

I'd be curious to see who they surveyed. All I can find is this:

Quote

...according to a survey of 2,068 participants commissioned by Finder.

14.4% of Americans seems awfully high to me. I wouldn't be surprised if the results are skewed because the respondents weren't representative of the population. Some demographics will definitely have a higher propensity to use Bitcoin -- Millennials, internet users, etc.

PryptoMontreal

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Quote from: cr1776 on October 26, 2019, 11:02:51 AM

From the article: "[The United States] is the country that has the largest number of cryptocurrencies hodlers"

Interesting.

So while the article seems to say that the US *government* isn't crypto friendly, the individuals are.

This is the case with almost every government. My country's government is planning to impose and 10-year ban on anyone holding or trading bitcoins through exchanges, the law is yet to be passed by the judiciary. They have already taken down registered bitcoin exchanges, but dumbshit they don't know about P2P exchanges, it's impossible to stop someone from holding/trading coins anonymously! The main motive of Bitcoins is to have a decentralized currency, I wonder how they're gonna restrict people from using it and catching the ones who do!

cr1776

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Quote from: Carlton Banks on October 26, 2019, 12:28:01 PM

Quote from: cr1776 on October 26, 2019, 11:02:51 AM

So while the article seems to say that the US *government* isn't crypto friendly, the individuals are.

What a strange disparity: is it not supposed to be "by, for and of the people"? Or did that cease to be (at least in terms of owning assets) when the government threatened their so-called co-governors to sell their gold to them for a bad price in 1933, and then legalized owning gold again 40 years later?

I agree. I think most people want to be free while most in government want to control and they try to mislead people with promises of "free" stuff. FDR's gold confiscation was reprehensible in a free society.

Carlton Banks

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Quote from: cr1776 on October 26, 2019, 11:02:51 AM

So while the article seems to say that the US *government* isn't crypto friendly, the individuals are.

What a strange disparity: is it not supposed to be "by, for and of the people"? Or did that cease to be (at least in terms of owning assets) when the government threatened their so-called co-governors to sell their gold to them for a bad price in 1933, and then legalized owning gold again 40 years later?

cr1776

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From the article: "[The United States] is the country that has the largest number of cryptocurrencies hodlers"

Interesting.

So while the article seems to say that the US *government* isn't crypto friendly, the individuals are.

ChrisPop

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Slowly more and more countries will FOMO into the cryptocurrency craze. In my opinion it's going to be something similar to the gold rush in the wild west, but a modern model Cheesy

It is really encouraging to see such a growth in the US cryptocurrency adoption and I hope this continues to grow. As I've stated before in this room I'm keeping an eye on the African countries as they are the most interested in cryptocurrencies and the global expansion will probably be started by them.

Jgilpulg

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Many countries are starting to understand the importance of Bitcoin and its blockchain technology. The U.S. is not necessarily one of them. However, the number of Americans holding the cryptocurrency is increasing.

https://bitcoinist.com/crypto-owners-in-us-have-risen-81-ytd/

Topic: [2019-10-26] Crypto Owners in US Have Risen 81% YTD - page 2. (Read 355 times)