Topic: Crypto.com Predicts 1 Billion Global Crypto Users in 2022! (Read 488 times)

Wont really be precise or something that do really talks about exact numbers and honestly there are lots of addresses which is only owned by single person and same as you said about
those lost addresses and there's no way that it can be counted on general sense or on exact numbers but one things for sure is that recognition and adoption is really on the move
and do becomes bigger as the years passing which is actually a thing that we are witnessing now even though numbers arent precisely know but at least we are seeing
that we are heading there.

In a way I understand what you are saying but at the same time the prediction is simply too unrealistic, it is impossible we have as many users of cryptocurrencies as they claim and it is impossible we will each such a huge number in just a year too, if there were one billion users of cryptocurrencies then that will mean that we will see almost any business accepting cryptocurrencies as a form of payment in just a year, and such a thing does not seem possible to me.

Of course, those are not free. Those partnerships only mean crypto.com has agreements with those teams or companies for them to carry their brand. But all of those come with a price.

Anyway, I also noticed how crypto.com is very aggressive in their marketing. Not only are they involved in various sports and other events, you could also easily spot a billboard, a street ad, bus ad, taxi ad, and so in many countries promoting their name.


They are already bearing fruits. If I am not mistaken, crypto.com's mobile app has topped in certain countries in terms of download. And since their brand bears a generic name, the entire crypto market must have also benefited from it one way or another.

This would mean that we've lost 13 million users since January according to to a survey from NYDIG.

More data that that show surveys are useless.

To bring more data to this discussion, a Pew Research survey found that 16 percent of American adults had invested, traded, or made use of cryptocurrencies as of September 2021 (with the percentage higher among the youngest adults). If there are 209 million U.S. adults and 16 percent of them have used crypto, this translates to 33 million who have used it.

This figure of American users is about 11 percent of the 292 million global figure estimated by Crypto.com. So depending on what slice of the pie Americans have in overall global usage, the Crypto.com figure could be seen as an overestimate. On the other hand, it's clear that crypto usage is growing exponentially outside of the U.S. as well.

Speculative?
The blockchain data doesn't lie, the only speculation is the amount of usage is needed for a person to be called a user.
On the other hand, the 200 million numbers come only from speculation and random percentages.


Then use the term owners and not users.
Because there is a difference between owning a car and driving a car.
And in crypto the difference is far bigger since you can own 100 accounts and never send a transaction on-chain, that would the equivalent of somebody who has 100 cars and hasn't driven a mile in his life.


Making use of something means USING it, you're paying somebody to take care of it, that's not using at all by any logic in this world.
Also, bet there are more people wearing gold jewelry than poeple holding gold bonds.  


Verified users are not users that have activity and it does include users who have created an account to sell all their holdings.
Facebook has 3 billion users....lol!

You can do an experiment for your case, look at how many tx and how many transactions you have done in one year, look at the current quoted number of % owners in your country, and take the entire family or your co-workers, or your classmates or the poeple who you play games with and see if the percentage holds when including them all.
Remember that if we talk about 10% meanings that in every 4 gramps, 2 adult married couples, 4 kids family tree branch you must have at least one owner!!!Do you see that happening anywhere?   Let's be serious.

But the biggest flow of this is that you ignore one thing in the custodial scenario.
Since all these 200 million users that haven't left a trace on the chain would need to be added in the last year you would still need an activity for the coins to flow in the custodial wallets, as those bitcoins that these people bought must have come from somebody, they weren't produced as gold bonds, so the coins HAD to move from previous owners to custodial wallets, yet that huge activity is again now shown in the chain.
Unless...somebody is selling those all-users IOU vouchers and not real coins.

With many social media also helping to promote crypto to many people around the world, I agree with you it is very likely to be true that there
will be a billion crypto users by the end of 2022. Moreover, crypto is quite talked about on many social media, after having managed to reach
very high prices this year, and more and more people start learning crypto and investing in crypto. Because after all Bitcoin has been proven to be
able to provide a sizeable profit in a pandemic situation compared to other assets. This positive thing has finally made many institutions decide
on long-term investments in Bitcoin, it also makes more and more new people believe in the future of Bitcoin. It is very interesting to see
the development of crypto which continues to increase drastically, there are even countries that make Bitcoin a legal tender, I see positive news
keep popping up regarding crypto. So in 2022 there should be more new people joining, especially if the market can recover in early 2022,
I am optimistic that crypto users will increase even more rapidly.

That depends actually on what the users they mean to say like I think it's the addresses that has transactions that they are basing or just a users who just had registered to different exchanges. But that data might not be accurate since if they based it on addresses there might be some addresses that doesn't work anymore like a lost bitcoin due to the user who forgot to give the key phrase to someone or a lost wallet or forgotten.

It’s just a prediction, but I am not going to doubt it because it is quite possible that it might happen before 2022 is over.  The rate at which people are adopting cryptocurrency these days is quite huge. Like these days almost everyone you are going to meet  knows one or two things about cryptocurrencies, especially Bitcoin.

So, since people are very much aware of these crypto currencies, it’s quite possible that from time to time they will get to experience things that will make them think about cryptocurrency, and as time goes on it is likely that their interest might develop into becoming part of the cryptocurrency community,which would lead them into adopting cryptocurrency. So this is quite possible to happen, we should be looking forward to it.

This is the closest to an attempt at a refutation of this data that I have seen in this thread, and it's largely speculative, much like the original post in this thread. I think it's fair to argue that a user can be someone who does a minor transaction on the blockchain - that is usage, actually, sheesh - as well as people who buy bitcoin on a centralized exchange and leave it on the exchange. After all, a primary use case of bitcoin is as uncensorable digital gold - and this can be utilized even on a centralized exchange that custodies the bitcoin (with the risks of this type of custody provided to customers). The same is true of financial institutions that hold the bitcoin for others. The same is true of custodians of gold: if I pay an institution to hold the gold for me in a vault, I am still technically making use of that gold. This is logic, even if it violates some of the ethical or political beliefs of some here. I am going by how these terms are commonly used. In such a case, which I imagine is common, there may be no transactions on the blockchain to show this activity (arguably critical from an economic standpoint, however odious to some).

Given that Coinbase is now under regulatory scrutiny, I tend to believe their claim of having at least 73 million verified accounts. When we add in the popularity of altcoins among investors, I think an argument can be made that the Crypto.com research is plausible and perhaps even modest. On the other hand, a certain percentage of these verified accounts are inactive - it would be useful to have some estimate of this number to help determine actual users.

They are optimistic with their predictions but it is understandable as they are in this market. We don't know how many people will be involved in crypto this coming year, but we are positive that it will further increase. As we are still in this pandemic stage, many people will have the time to read more about crypto and be interested as we are going digital. It may not reached 1B users, but definitely, we will increase in number.

Well all i can say is, its not surprising because every year crypto market always improving because of adaption and etc. So i wouldn't be surprised wherein even though there are some factors that can bring the market down as its always happened but cannot make the crypto market down very hard as always as well . so better to accumulate more than wasting time asking if crypto will end because of some reason..lol

IMO, I think the crypto.com research team is just simply positive in their prediction, and whatever reason they have it's not important anymore because what more important is we are growing as cryptocurrency users worldwide are spreading fast like a wildfire for me that was already an achievement and we should support that positivity because we are riding on the same boat.   

Anyone has the right to predict what will happen in the future. As long as the prediction is rational then many will believe it. But if without valid evidence it is the same as an opinion. Proof through a wallet address is not enough. Because one person can have many wallets. But from the OP I think it's pretty good news, I think they're trying to herd the opinion of the world community. They want to introduce crypto widely. I still believe crypto will continue to grow, because we move forward and paper or metal currencies will slowly disappear.

I feel that in 2022 there will be something new, but indeed we also have to see from what point of view they say it, if indeed they say that the user is an active person then I think it could be less accurate, but for passive users maybe it can happen.
on the other hand adoption will continue to increase by itself over time and I'm sure of it

It's not a conspiracy it's called marketing.
And sometimes it can turn ugly, as was the case a few days ago with Nikola .

It's a common practice and it has been around a century before Bitcoin, from newspapers that would count subscription renewals as new customers to boost their publicity tarrifs, from phone companies that count the total numbers of sims as customers but when they publish data on revenue per customer they treat one business with 30 sims as one, to every single business out there. This practice has plagued the world forever and bitcoin is no stranger to it, it start years ago with Huobi and okchina faking volumes and number of customers by the thousands.


It's pretty easy, the claims are for 114 million bitcoin users, whatever that means and you have 800 million addresses ever used with 700 million transactions, in 12 years, this includes a business activity.
Now ignoring on top of that what a tumbler service can do, mining rewards, consolidations, it would still get 7 addresses per user and 6-7 transactions in a 12 years period. Adding to the mess is the fact that since 2018 we had an increase of address used from 480m to 800m, which obviously does not fit with the tripling of "users" in the last year.

Now, how many transactions do you think a bitcoin "users" should do a year to qualify him as a "user"? Grab your number and see if it fits the numbers above.

Should I throw in the fact that Visa has 180 billion transactions a year with a billion customers?
If we would go by the same metric and ignore the number of years that would leave only 4 million bitcoin users out of the claim of 114.

Try to see the positive in this, we're still at the beginning and still a long way ahead.

Wait, But do they get this stats?

Is this about the wallets Held Bitcoin? because if does then this is Inaccurate because this cannot stand as Crypto users instead it can be owned not same people.

One of us have multiple crypto wallet that we come to Keep our coins so this is not really a legit statistics .

It is clear that the figures are more the subject of speculation than the real situation, regardless of the country in question - although it is more than obvious that some are really exaggerating. When it comes to Croatia, a few months ago there was information that the turnover from stock trading was equated with the turnover from cryptocurrency trading, which greatly upset the central bank and some other financial agencies in the country.

In addition, in Croatia it is practically possible to pay for everything with Bitcoin and other cryptos - which you can see if you visit bazar.hr - but in my estimation, we have less than 100 000 users, maybe even half of it.

Exactly.

Without reading the 25 page report that's linked in OP, "users" has a broad definition, which is greatly convenient for marketing purposes. User meaning a crypto holder, trader, or individual that conducted a single crypto transaction in a calendar year of negligible value? Probably the latter. And the portion of users also don't include the Robinhood type crowd dabbling in shitcoins trying to get in on the latest pump and dump scheme.

Numbers are grossly inflated.

CoinShares, as I pointed out, has a very similar estimate. If we assume Coinbase has a 25 percent global market share with 73 million verified accounts (it seems plausible), then the 292 million figure is sensible. So Crypto.com, CoinShares, AND Coinbase have to be lying for this number to be so easily dismissed. So, is there a conspiracy by the industry to inflate numbers? If so, where is the proof of this?

So far all that we see is a bunch of opinions that this doesn't "seem" right. No facts or data have been presented to counter this research in this thread.