Whoever made the survey, I think we need to verify if they are legit or not.
Seriously? I thought only few knows about bitcoin, so probably those people who are ask are crypto enthusiast like us and has given their bias opinion.
Also, the figure is very small compared to the number of popular in the world, that doesn't say anything IMO.
Traditonal banks are more popular as there's no massive adoption on bitcoin yet.
Topic: Bitcoin is More Popular Than Traditional Banks - page 2. (Read 933 times)
Bitcoin become so prominent all over the world, we have so many users of bitcoin but I don't think that it is more popular than the traditional banks, there are so many people who still don't know things bout crypto world and they still keep on using the traditional banks, cryptocurrency is just alternative for fiat currency so, and fist currency is the standard currency that is in the traditional banks.
If you are going to compare between two, I think bitcoin is safer and faster transaction compared to traditional banks because it happens online, in terms of security you should use a hardware wallet to avoid attacks from hackers. An online wallet is not advisable for me because it is really prone to attacks.
I think the big reason that people are trusting people bitcoin or cryptocurrency in general more than banking institution is the fact that the latter has so many bureaucracy behind which means more paperwork, we also should mention that the bank has a very old fashion system and the only progressing system is their security, with more people being more open minded to oppurtunities meant that the ignorance that has been plaguing our generation is being slowly dispelled, if banking institution wants to survive the modern times then they should up their game because they are falling behind when it comes to progress, that also applies to our respective government. If you are going to compare between two, I think bitcoin is safer and faster transaction compared to traditional banks because it happens online, in terms of security you should use a hardware wallet to avoid attacks from hackers. An online wallet is not advisable for me because it is really prone to attacks.
According to the cyber media Tokenist, based on the results of their survey not long ago. The survey involved 4,852 respondents from 17 countries. According to the survey the number of people who trust Bitcoin more than large banks, increased by 29 percent in the last three years. The survey also showed differences in the generation's views about Bitcoin and traditional banks. 51 percent of millennials trust Bitcoin more than traditional banks.
In my country now bitcoins are well known, obviously they do not know it 100%, but above all the new generation and some "elders", despite this we are still and I say unfortunately "still" clinging to vile money, and with the imposition of the the state makes increasingly massive use of payments and receives payments through banks. But I have good news, two months about one of our Italian banks gave the opportunity to buy and sell bitcoins, it was a real turning point in the banking world, the bank in question is called Hype of Banca Sella
Only 4852 people ? i guess that's not enough numbers to really determine the popularity and percentage of people who trust Bitcoins over Banks.
Atleast in my opinion a 100k respondents is really a convincing number.
Atleast in my opinion a 100k respondents is really a convincing number.
If you'd ever done any kind of statistics study, then you know it's not so much the size of the sample, but how you come to determine which population forms that sample. 100 or 100,000 people from this forum would likely give the same outcome, with differing majority. And you'd be wasting resources on using a sampling size bigger than what's necessary for any meaningful conclusion.
Of course, larger numbers give you better statistical reliability but to be fair, 4852 people is a hell lot of a better sample than many of the nonsense headline news that gets passed off as research in this forum.
Bitcoin isn't as popular as banks, did you know that most of the Americans still don't know what the bitcoin is? I see where you are rooting to, you just being surrounded with crypto that's why you say that it is more popular.
To see potential of any new technology, you have to be surrounded by it, it is inevitable condition for understanding. I should have said bitcoin has all of the characteristics in order for it to potentially become more popular than traditional banks. I heard about most Americans are not aware about bitcoin still. However, if we are talking about popularity of banks, it may be surprising to us that dozens of millions of Americans have no access to banks either. For me, popularity is measured not through grade of awareness, because what is the point of knowing about anything if you still can't access. Given that bitcoin is an open system, which everyone can access to, it will be more popular than any closed centralized organization in the long-term, it is just a matter of time. 
Bitcoin become so prominent all over the world, we have so many users of bitcoin but I don't think that it is more popular than the traditional banks, there are so many people who still don't know things bout crypto world and they still keep on using the traditional banks, cryptocurrency is just alternative for fiat currency so, and fist currency is the standard currency that is in the traditional banks.
If you are going to compare between two, I think bitcoin is safer and faster transaction compared to traditional banks because it happens online, in terms of security you should use a hardware wallet to avoid attacks from hackers. An online wallet is not advisable for me because it is really prone to attacks.
If you are going to compare between two, I think bitcoin is safer and faster transaction compared to traditional banks because it happens online, in terms of security you should use a hardware wallet to avoid attacks from hackers. An online wallet is not advisable for me because it is really prone to attacks.
Bank have old of years and bitcoin just several years ago, how come bank not popular than bitcoin? but will give positive side when bitcoin have been legal payment transaction and become good competitor for bank how to make costumer most interested and funny using bitcoin as saving assets than have use bank to put their money.
OP doesn't really provide a discrete link or source where the news came from, perhaps, he is just hyping the trend of bitcoin and cryptocurrency in comparison to the traditional banks. But IMO, banks are still dominant since most of the payment options available doesn't include bitcoin yet, but this doesn't mean that bitcoin and crypto isn't doing well, maybe some companies don't incorporate bitcoin because of their target audience, honestly, bitcoin isn't developed yet mainly for people at age 40 and above as they need to learn how to use it.
Only 4852 people ? i guess that's not enough numbers to really determine the popularity and percentage of people who trust Bitcoins over Banks.
Atleast in my opinion a 100k respondents is really a convincing number.
Atleast in my opinion a 100k respondents is really a convincing number.
Managing that would be really hard to be honest.
You need people from different countries to achieve that. We might be able to create spreadsheets and send it online for people to answer since we can't really go personally to people right now because of the pandemic. I guess right now that is a fine result and another thing is that it is said by the OP that Millenials vote over banks, which is the probable users of Bitcoin and other cryptocurrencies in the future.
Only 4852 people ? i guess that's not enough numbers to really determine the popularity and percentage of people who trust Bitcoins over Banks.
Atleast in my opinion a 100k respondents is really a convincing number.
Atleast in my opinion a 100k respondents is really a convincing number.
Joining the hype is way different than trusting Bitcoin by itself but possibly the reason behind this is one is the anonymity that Bitcoin can deliver to its users.
I must say that as much as I like how it sounds unfortunately I do not see Bitcoin more popular than banks. As per the comment above, hype is not the same as usage, people know about cryptocurrency but majority are still afraid of the unknown and instead of taking the risk to try it out they stick to the traditional banks.
What's even worse is that people think that crypto is only for money laundering and because of that myth they disregard it entirely. There are still so many wrong concepts out there about what cryptocurrency is that acts as a real barrier to adoption- we need to address that more!
According to the cyber media Tokenist, based on the results of their survey not long ago. The survey involved 4,852 respondents from 17 countries. According to the survey the number of people who trust Bitcoin more than large banks, increased by 29 percent in the last three years. The survey also showed differences in the generation's views about Bitcoin and traditional banks. 51 percent of millennials trust Bitcoin more than traditional banks.
Millennials will be the future users of bitcoin, and I think it is great for them to be voting bitcoin against these large banks since we all know how hard it is to do something that they can't approve. Still, with that small sample size, I guess in the next results we could do more respondents. I know that is asking much but more sample size means more accuracy and better results.
Banks are the dominant financial system, they are hundreds of years old. Money rules the whole world, and banks print money.
These are the most popular structures in the world. With all the desire, bitcoin has had too little time since its creation for the emergence of full knowledge about it and its functions.
There can be no talk of complete trust until they began to use bitcoin everywhere using it not for speculation, but for replacing money.
These are the most popular structures in the world. With all the desire, bitcoin has had too little time since its creation for the emergence of full knowledge about it and its functions.
There can be no talk of complete trust until they began to use bitcoin everywhere using it not for speculation, but for replacing money.
Can't say it was unexpected... I think banks have always been jugling around with people finances and become places of shady businesses... my idea is that general people have a bad oppinion about banks, and as people start to become more aware of bitcoin and it's possibilities, a definitive shift might happen...
although I find it difficult for people to trust their savings to bitcoin, mostly due to the uncertainty of regulations and volatility
although I find it difficult for people to trust their savings to bitcoin, mostly due to the uncertainty of regulations and volatility
Yes it is true that bitcoin is more popular than conventional banks. And its popularity will continue to grow day by day. Conventional banks have their own set of rules that will force you to comply. On the upside, you don't have to worry too much about bitcoin. In the case of Bitcoin transactions, the hassle is much less. On the other hand, there are some formalities that you have to do to make money transactions in conventional banks. In all respects, Bitcoin is easier to use than conventional banks, so Bitcoin is more popular.
According to the cyber media Tokenist, based on the results of their survey not long ago. The survey involved 4,852 respondents from 17 countries. According to the survey the number of people who trust Bitcoin more than large banks, increased by 29 percent in the last three years. The survey also showed differences in the generation's views about Bitcoin and traditional banks. 51 percent of millennials trust Bitcoin more than traditional banks.
That’s the same thing with me right now, I’m starting to lose interest in traditional banks, digital banks are becoming the thing for me. Although in the world we are in now, I can’t stop making use of traditional banks, because there are always areas where they are very important to me. But, I have been putting a lot of money into digital banks as of lately and I have also been making use of Bitcoin and investing in it, including altcoins. I just make use of all of them. And one thing I like about digital banking and cryptocurrency is that I don’t have to worry about annoying charges.The level of freedom people could enjoy with bitcoin must be the core reason it is getting more attention which might lead to make bitcoin more familiar than traditional banks among young generation of people. In next 10 to 20 years, I am sure all youngsters around 20 to 30 age group might have forgot about making use of traditional banks as they are effectively using bitcoins; just a speculation.
To be frank, I think before Bitcoin becomes more popular and widely accepted, a little more push is needed because right now in my country, a lot of people have never heard about Bitcoin, like t alone knowing what it is.
They are missing out on all its benefits as they keep depending on the inefficient banking system.
Cryptocurrencies at large will become the next generation currency, but more work needs to be done in communicating its benefits.
They are missing out on all its benefits as they keep depending on the inefficient banking system.
Cryptocurrencies at large will become the next generation currency, but more work needs to be done in communicating its benefits.
According to the cyber media Tokenist, based on the results of their survey not long ago. The survey involved 4,852 respondents from 17 countries. According to the survey the number of people who trust Bitcoin more than large banks, increased by 29 percent in the last three years.
who did the survey was not an independent identity and the numbers of people who participated in the survey Is a small number of people... so I am not excited about the result of the research
The survey also showed differences in the generation's views about Bitcoin and traditional banks. 51 percent of millennials trust Bitcoin more than traditional banks.
In order to have a bank account it is necessary to deliver documents and banks must be accountable to governments and this means that if someone commits any crime easily the government can ask the bank to freeze that person's bank account. This is a disadvantage of the banks, but it also has an advantage, for example in the case of the person's death the bank contacts the beneficiary indicated by the owner of the bank account who died
In the case of bitcoin people are free, they don't have to be afraid of some government taking their bitcoin, but what if the person dies? how are bitcoins? this is the disadvantage of bitcoin
My opinion:
Rather than people making a comparison between bitcoin and banks, Why people don't use both and stop this comparison?
Bitcoin is more popular than traditional banks. "Popular" from Latin "populus" which means "people". Bitcoin was created to serve people who don't have access to banks or don't wish to use them. Banks are not for people anymore, they have become just business selling financial products to elite, privileged persons.
How do we measure the popularity of a certain thing? If we say that bitcoin is more popular than traditional then we should have a incredibly higher price for bitcoin. Banks, different banks have different number of users, in 2017 a study shows that there are 1.2 billion people that has a bank account, so what about bitcoin? how can we know the number of users in bitcoin if we are pseudonymous? you can't just count the addresses in the entirety of blockchain. Bitcoin is different, it is not a company, it is not a corporation, it is not a business offering products based on out-of-thin-air money. With bitcoin people are getting their financial sovereignty back. With bitcoin underbanked and unbanked people can access financial system. Bitcoin is more popular, because it can be used by everyone, not just elite.
Bitcoin isn't as popular as banks, did you know that most of the Americans still don't know what the bitcoin is? I see where you are rooting to, you just being surrounded with crypto that's why you say that it is more popular.
I can say that Traditional banks still popular just because the majority of people are still using FIAT money. However, the growing market and adoption to crypto will somewhat a threat in the future but of course, it wasn't an instant work, it takes years and the giving a chance for the banking system to adopt the system and use blockchain technology. But even though it comes to this moment, I'd never think that it will be the reason to eliminate banks, they will still exist.
Without having a bank card or bank account life is not much easy in any corner of the world. I have most of my assets in bitcoin but still I need a bank to run my business and other essential financing.
In Bitcoin, we are still too young but I believe it's not much longer that we will have most of the financial transactions will be done using Bitcoin. I have a dream of paying my employees using Bitcoin but not in the near future.
In Bitcoin, we are still too young but I believe it's not much longer that we will have most of the financial transactions will be done using Bitcoin. I have a dream of paying my employees using Bitcoin but not in the near future.
You are right. Fiat currency is also very important.
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