Bitcoin is More Popular Than Traditional Banks - page 3.

Betwrong

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Quote from: GDragon on June 26, 2020, 12:13:56 AM

Quote from: Betwrong on June 24, 2020, 03:41:29 AM

Quote from: LeGaulois on June 19, 2020, 12:00:31 PM

~
Here is the complete survey result for those looking for more details (@OP didn't post anything) Very long page to read by the way
https://thetokenist.io/bitcoin-survey-2017-vs-2020/

Participants are from 17 countries (not any particular) and come from a survey network mainly and their email list. @OP forgot to say the confidence in Bitcoin dropped for some age groups (senior people for example).

(IIRC, this survey network rewards people to take their surveys so people answer the questions the way to make the network happy to be sure to get the money and to not be rejected in the middle of the survey)

Interesting results, definitely worth a look! Undoubtedly an enjoyable read for Bitcoin enthusiasts. Maybe at some point in the future(I sure hope so) the following will be true for the general public:

Quote from: https://thetokenist.io/bitcoin-survey-2017-vs-2020/

Over 45% of respondents would prefer to own Bitcoin over stocks, real estate and gold ...

60% of respondents felt that Bitcoin is a positive innovation in financial technology ...

47% of respondents trust Bitcoin over big banks ...

But for now I think we are far from it. After examining the methodology of the survey we can see that the respondents were not picked up randomly, but rather were the people more or less familiar with crypto and BTC, in particular. I think if a broader audience were interviewed, we'd see completely different results, much less pleasing ones. I'd be glad if I was wrong.

It probably is much less pleasing ones, cause if it isn't, maybe we don't really need that survey in the first place, or we will be not this surprised with the result of this. And honestly, we all know how other people see btc. We can feel it from our friends and etc, it has this image of being used illegally, or something connected to scamming and so on. We are really that far in making it known as a currency to other people. And honestly even us who are into this technology are still much comfortable using traditional banks as of now, because the society I live in still prefers traditional banks. We won't live by btc only as of now.

Yep. Most people I talk to, think Bitcoin is a pyramid scheme. I can't blame them much cos indeed it looks like one for those who are out of the loop. Notice that many ICO scammers promote their sh*tcoins using exactly the same words ppl use describing Bitcoin. So, yeah, it's a tough call for a layman.

Negotiation

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Bitcoin is a very popular currency and once one uses it properly one will never think of giving up using Bitcoin Bitcoin is very popular in the case of crypto but Fiat currency is more prevalent in the case of banks. Bitcoin can never be replaced without Fiat However, if Bitcoin like the Fiat currency is supported by the government then banks will start circulating Bitcoin currency and it will gradually become popular in the world.

Lasky366

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Pretty interesting topic. I think people wants thing even more easier or they might want to control their money whatever they want since bitcoin is dcentralize & its process is more speedy than our traditional banking system so that's why might get more popular than tradionality.Even though personally I still prefer Traditional banks.

ragavancoin

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Bitcoin is still growing it is not popular as traditional Bank... All most all are using banking system but so many doesn't know about Bitcoin still.. I wish it becomes popular as bank in future but at present traditional banks are popular.

michellee

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Quote from: ragavancoin on June 25, 2020, 08:45:11 PM

Bitcoin is still growing it is not popular as traditional Bank... All most all are using banking system but so many doesn't know about Bitcoin still.. I wish it becomes popular as bank in future but at present traditional banks are popular.

I am sure with the adoption that is happening in every country, that can help bitcoin to become popular as the traditional banks. But to go to that way, we need to introduce bitcoin to many people so that they will know the existence of bitcoin among them. And the important thing is they can know that bitcoin has the option to be used, which is they can use bitcoin as the payment method, and bitcoin can be used for the investment in the long term. I am sure people will have an interest in bitcoin if we can teach them, and they can search for themselves.

CryptopreneurBrainboss

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Probably you're using the global awareness of bitcoin to compare with each local bank in a geographical area because I see no reason why one would think, bitcoin is popular than the local banks. They have more customers than bitcoin, they're widely used for daily transaction etc. Bitcoin awareness is getting widen as the days goes by and it's online awareness is increasing drastically but when compared with the local banks, I believe it still has a long way to go.

If you're basing your comparison on the level of online presence both institution has then it would be understandable since most local banks don't have online presence as they're more interested in fulfiling the locals needs.

Sircoss

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Not yet. But the fact that I keep funds in my accounts in crypto wallets (Exodus and Ownr) and am more confident in their security, this is absolutely certain.

witcher_sense

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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. 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.

GDragon

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Quote from: Betwrong on June 24, 2020, 03:41:29 AM

Quote from: LeGaulois on June 19, 2020, 12:00:31 PM

~
Here is the complete survey result for those looking for more details (@OP didn't post anything) Very long page to read by the way
https://thetokenist.io/bitcoin-survey-2017-vs-2020/

Participants are from 17 countries (not any particular) and come from a survey network mainly and their email list. @OP forgot to say the confidence in Bitcoin dropped for some age groups (senior people for example).

(IIRC, this survey network rewards people to take their surveys so people answer the questions the way to make the network happy to be sure to get the money and to not be rejected in the middle of the survey)

Interesting results, definitely worth a look! Undoubtedly an enjoyable read for Bitcoin enthusiasts. Maybe at some point in the future(I sure hope so) the following will be true for the general public:

Quote from: https://thetokenist.io/bitcoin-survey-2017-vs-2020/

Over 45% of respondents would prefer to own Bitcoin over stocks, real estate and gold ...

60% of respondents felt that Bitcoin is a positive innovation in financial technology ...

47% of respondents trust Bitcoin over big banks ...

But for now I think we are far from it. After examining the methodology of the survey we can see that the respondents were not picked up randomly, but rather were the people more or less familiar with crypto and BTC, in particular. I think if a broader audience were interviewed, we'd see completely different results, much less pleasing ones. I'd be glad if I was wrong.

It probably is much less pleasing ones, cause if it isn't, maybe we don't really need that survey in the first place, or we will be not this surprised with the result of this. And honestly, we all know how other people see btc. We can feel it from our friends and etc, it has this image of being used illegally, or something connected to scamming and so on. We are really that far in making it known as a currency to other people. And honestly even us who are into this technology are still much comfortable using traditional banks as of now, because the society I live in still prefers traditional banks. We won't live by btc only as of now.

NavI_027

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Quote from: ragavancoin on June 25, 2020, 08:45:11 PM

Bitcoin is still growing it is not popular as traditional Bank...

Indeed, not yet so popular so far. But I believe it will be more popular in the future as our generation gets better and better. The technology becomes higher and far from the traditional living

.

Anyway, I give the benefit of the doubt on the survey conducted which is mentioned by OP, but I think using the word "more popular" is the right term. Much appropriate to say "more trusted" (I just based on the conclusion).

hatshepsut93

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Of course the article is sensationalized and probably to some degree misleading, but overall it shouldn't be surprising that young people trust Bitcoin more, as it's a combination of being more open towards new technologies and distrust towards banks as the events of 2008 crisis deeply affected the younger generations. But despite that, Bitcoin adoption even among millenials isn't high, which likely means that the distrust towards banks hasn't reached some sort of critical level yet.

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I don't think so that it is the time where Bitcoin is more popular than any of the traditional banks. The reason being bitcoin needs more time to make its worth as an alternate to banks. People must trust bitcoin more to increase its wider spread adoption.

Betwrong

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Quote from: LeGaulois on June 19, 2020, 12:00:31 PM

~
Here is the complete survey result for those looking for more details (@OP didn't post anything) Very long page to read by the way
https://thetokenist.io/bitcoin-survey-2017-vs-2020/

Participants are from 17 countries (not any particular) and come from a survey network mainly and their email list. @OP forgot to say the confidence in Bitcoin dropped for some age groups (senior people for example).

(IIRC, this survey network rewards people to take their surveys so people answer the questions the way to make the network happy to be sure to get the money and to not be rejected in the middle of the survey)

Interesting results, definitely worth a look! Undoubtedly an enjoyable read for Bitcoin enthusiasts. Maybe at some point in the future(I sure hope so) the following will be true for the general public:

Quote from: https://thetokenist.io/bitcoin-survey-2017-vs-2020/

Over 45% of respondents would prefer to own Bitcoin over stocks, real estate and gold ...

60% of respondents felt that Bitcoin is a positive innovation in financial technology ...

47% of respondents trust Bitcoin over big banks ...

But for now I think we are far from it. After examining the methodology of the survey we can see that the respondents were not picked up randomly, but rather were the people more or less familiar with crypto and BTC, in particular. I think if a broader audience were interviewed, we'd see completely different results, much less pleasing ones. I'd be glad if I was wrong.

abuya55

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It isn't surprising. Amid the upcoming recession people are looking for safe heaven, traditional banking substitute. Bitcoin's conception of being your own bank is the perfect alternative.

Leviathan.007

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It's getting populated between people time after time. But, I disagree with you saying Bitcoin is more populated traditional banks. There is a long way to go for Bitcoin and the crypto currencies. Considering there are still many people they won't have any idea about the Bitcoin technology and there are also many people they can't trust Bitcoin as a real currency. In the other hand, Technology growth rate and the Bitcoin's growth rate is real high and it's better even higher. That's why I think, just after a few years we will see Bitcoin as officially the most populated currency in the world.

Triffin

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Quote from: jakkk on June 21, 2020, 12:26:29 AM

I don't think so that it is the time where Bitcoin is more popular than any of the traditional banks. The reason being bitcoin needs more time to make its worth as an alternate to banks. People must trust bitcoin more to increase its wider spread adoption.

I know banks are having more popularity than bitcoin but I am sire soon all around the world people will prefer to keep money in form of bitcoin because bitcoin is more worthy and a good way to increase your money so that's why I think bitcoin has more value and it will be accessible worldwide soon just after few years from all around the world people are going to be cryptocurrencies users only.

daneal stev

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I have come across this poll and many other surveys inside some of the sites and that these surveys are correct and this is exactly what happens as a lot of people become dependent on bitcoin much more than relying on traditional paper banks and I think that this credit will continue during the coming years as dependence on cryptocurrencies will become More than 80% because it is more comfortable in transferring money, completing transactions and many other things

localsBitcoin

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Bitcoin is growing.
Crypto Coins are spreading.
But these are only the beginning of long steps in a longer way.
Future will be for new crypto coin currencies that will inherit the bitcoin and all the current digital currencies.
It is early to forecast their rules and regulations.
Those will develop among expertise and time.

LbtalkL

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Of course it is, because if you think carefully there are banks that are just exclusive one country because of that some traditional banks does not get news out of the country frequently while we are getting bitcoin news across different countries because bitcoin has no based, it has no central office, server or something, it is everywhere. Bitcoin has a lot of advantages over banks.

hahay

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I personally am not sure to say about the popularity of bitcoin beating traditional banks, because if bitcoin has become really popular I am sure there have been many uses of bitcoin in real life for any transactions, but the fact is not even so and I think millennials prefer to use digital fiat for any digital transaction that exists today. But whatever the data and surveys, I just believe that the popularity of bitcoin is continuing to increase, but it hasn't overtaken the popularity of traditional banks because I think that to beat the traditional banks still requires more time.

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