Topic: I found my reason, you can also find yours if you try (Read 858 times)

I believe if you want something you'd go for it no matter how limited the information is about that thing. Like I said, it's a matter of interest. The way I see Bitcoin to gain more adoption is if it becomes a mandatory financial tool in a country that you can't do without.
I won't blame them either. Heck, I'd be hesitant to put my money in some of these new meme coins too.

Participating in airdrops is one way lots of people got interested in Bitcoin. All the airdrops are participated in my beginning stage of cryptocurrency were altcoins and most of them were very disappointing. But later on, I discovered that i learned a lot in the process. I was able to understand the different networks and how to transact using them. I also understood the difference between centralized exchange and decentralized exchange, IEO, ICO, and IDO. All these terms mentioned sounded very strange to me at the early stage. However, now is difficult for some to list 50 terminologies in the crypto space i cannot fully identify and explain 45 correctly.

Having some understanding about bitcoin and the price of bitcoin is not that related. You can meet with 1 million people on the street who wouldn't afford to invest 10 million dollars together, whereas there could be one dude who is willing to invest 100 million just himself, that means that meeting people on the road makes no sense and not the greatest way.

Additionally, we are at a marketcap where if we do 10x that would be gold marketcap, meaning that more than 10x is very difficult for bitcoin to achieve, so we can't possibly assume that would be the best way to move forward, I am not saying that we shouldn't do it, but I think its going to be something that will take a while and we are not going to really see this change all that easily at all.

The thing is that many have heard about Bitcoin, but what quality of knowledge and information do they have? Now many people have heard about Bitcoin but do not trust it because they consider it a big financial pyramid.

People have also heard a lot about NFTs and memecoins, but they are also considered useless and dangerous technologies. And I cannot agree with them on this. Because both are more like speculative instruments.

I like how you're seeing things; however, I'm not as confident as you are. It's certainly not too late, even though in my case a large number of people I know at least acknowledge the existence of Bitcoin and what it is; however, it would be unrealistic to expect the massive opportunities the early days had. There's a reason when something new is launched, the newest adopters are referred to as "early birds." The same rule also applies to Bitcoin; those who purchased between 2010 and 2016 noticed massive gains that are certainly not going to be matched ever again in the future.

Don't get me wrong, I do remain confident about the future and I'm trying to accumulate as much Bitcoin as possible, however, I'm not expecting 10x returns, because that would be unreasonable.

 Firstly, the Op said the number of people he asked about Bitcoin knew nothing about it and that was his inspiration to go get his, right? Well, maybe those youths in his area knew little to nothing about it because they didn't or haven't really seen the need to explore another form of financial payment pattern since they either have their banks or they are just too lazy to delve into something else.

Secondly, youths or majority of the youths focus more on happening trends on the social space than they do on things like Bitcoin and cryptocurrency (and I'm basing this on where I come from) so these could all be reasons as to why their knowledge is limited.
 It's also worthy of note that the idea or knowledge of Bitcoin has spread and now even those who are older know about it. I was impressed the other day when my rider who's quite advanced in age kept telling me how easy these cryptocurrency payment platforms have made transactions easy and I could not agree more.
 Indeed, no one's late to the party, it's just a matter of mindset.

Yep, people are not aware at all. In my city hardly anyone is interested in the Bitcoin or crypto basically. The name doesnt come up if we are not discussing it. I mean it's like just tertiary thing here in India or in my state at least. Honestly, people are struggling to live up with their own salaries and whatever wages they getting, so they dont want anymore risks in their lives.

Apart from this I have obsevred that they are more or less interested in the share market. Holding shares, or doing daily trades is far important or risk free for them as compared to bitcoin.

But yeah, for all of us who are involved in the Bitocin since ages (practically) we will talk about it all the time, because obvioulsy that ison our minds always.

Well, I don't believe it's too late to invest in Bitcoin at all, of we go by the current way the crypto market is going then there's still a high potential for ppl to invest more

Your statement is correct but I will never talk about Bitcoin in public place as it would violate my privacy. And if you start comparing yourself to someone who doesn't know about that, you're on the wrong track. You have to compare yourself with those who are experts in that field. Only then will you realize the emptiness within yourself. It is true that if you compare yourself with someone who is weaker than you or less wise than you, you can comfort yourself and find self-satisfaction. But if you don't compare yourself with people who are wiser and stronger than you, you will never achieve anything great.

I also believe that it is a geographical thing whether most people would know about Bitcoin or not, and the results will vary for each person based on their location and where they live, whether the place they live in has a high literacy rate or not and whether what percentage of the population in that locality use electronic devices with internet availability because someone who doesn't even use electronic devices would never know about these things, and someone who uses internet and social media would surely already know about it even if they aren't into it.

The place where I live, I'm pretty sure the results will be 50-50 because most people around here have mobile phones and use social media platforms, but many aren't educated enough to get into things such as cryptocurrencies or online earning opportunities.

Overall, I agree with your point that it is not yet late to get into Bitcoin and make your first move. Many people will join after us, we might not be very early but we are also not late.

It's true. Most people I know don't have interest in adopting Bitcoin, even though they have already heared about it before. They say to not understand how it works, so they prefer to stay away from BTC. Meanwhile, the minority I know who have already invested in Bitcoin aren't very confident about it, neither invest considerable sums of money on it. I think they live a contradiction, because at same time they want instant profits, they think Bitcoin doesn't deliver enough to make the investment worth. The ironical part is that Bitcoin is one of the most profitable investments available in the entire world right now.

I ask myself if the average mindset of people in our societies is going to change anytime soon, or if it will remain like this forever. On the other hand, I also think most people will only adopt Bitcoin once centralized parties they highly trust, such as media channels and governments tell them to do so.

Very nice experiment that we can carry out for us to know that we're not late in investing in Bitcoin. Don't think that because Bitcoin is now costly more than $50k that anyone that wants to invest right now is late. Bitcoin price is still going to continue going up and not down because more people, company and business are going to always invest as they're knowing about Bitcoin. I don't need this experiment for me to know that I have to invest into Bitcoin. I follow the financial news and I see how Bitcoin is being talked about recently hence I know investing is the right time to do. My reason for investing in Bitcoin is because I have understand the importance of owning Bitcoin. No one knows what the future holds bit hodling Bitcoin can make you richer in the future and you'll not have to suffer again, looking for money

I like your experiment, but your sample size isn't conclusive enough....I can imagine you asking only the girls and they would want to be out of your sight especially that it sounds so nerdy to them

For a better general overview of how much people know their cryptocurrency, why not try tertiary school at least these are in touch with reality and todays technology, or mid aged persons as these would want to invest money for the future... millennials are too unpredictable for all I know .

But you are right on one thing, we are still early adopters of Bitcoin even after a decade 

While I do agree that we are still quite early in the bitcoin world, the money that got in is a lot and this method may not be all that reasonable for us. Because while there could still be some people that do not know what bitcoin is or even if they do know it then they may not be invested, that may not mean that the price could still go up a lot like it used to.

We were very small in marketcap and right now we are not, so we can't easily go 10x higher, doesn't mean we won't, but it would take a long time to do that, up until now we didn't had that much difficulty, because price was like 5k and going to 50k was the last 10x that was easy, nowadays it is not easy at all because it would require so many more billions to do that.

Remember, 1% holds as much money as the 90%, so that means if 50% of the 90% do not know bitcoin but 100% of 1% knows it, it's still crowded and the price is still overvalued, so it's not about how many knows it, it's about who knows it.

Indeed the introduction of airdrops has made the cryptocurrency information to go more viral not just in the city but in the rural areas too, the only place where you can point out that people are not informed about Bitcoin is a place where there is no smart phone or a place there there is zero availability of the Internet which is very rare to see in this present generation.

Using the rural areas in my state as an example, it is very difficult for you to see young people who are not aware of bitcoin and other cryptocurrency even though most of them are not trades or investors, they are into airdrops after a lot of them came to realize that they can get free money through airdrops.

I believe they should have heard the name before, but they simply lack knowledge about it. This is because bitcoin has faded to the point where it will be difficult to ask someone, as our generation, aged 20 to 35, is unaware of bitcoin. They will hear about it, but they will not focus on it to gain experience in the crypto. If someone does not know about bitcoin, it means that he is not involved on online platforms, since if you are doing online, I am sure you will encounter crypto sites that will say you should invest in crypto and be getting rewards and withdraw with coin and band your wallet address.

In my country, it will be very difficult to find someone who doesn't know about bitcoin because with how the economy is in our country, many people are engaging in online investments and mostly they try to focus on trading very well because they think they will get profit fast and that is the main problem many people are facing, they don't have time to learn because they just don't have time for that they just want to get money fast and without knowledge he will be very difficult In 90% of a country, I think he will only be 10% who don't hear about bitcoin, and some people don't like saying what they are doing, they like to keep it hidden.

If someone I don't know comes up to me and spontaneously asks me that question, I will answer "NO" because privacy is more important than being too honest with someone I don't know. Closing yourself off from strangers cannot be categorized as lying or other negative things because comfort and safety from various threats that come are much more important. Perhaps for this reason, Satoshi identity is still unknown to this day, he prefers to maintain his privacy for the sake of a comfortable life and freedom from all threats rather than pursuing fame.

I am sure that not all of the people you approach do not know about Bitcoin, the reason may be as I have mentioned above, they prefer to keep their privacy rather than being honest with you. Let's check the simplest fact or on a small scale, most of the Newbies who register on the Bitcointalk forum are the new generation who want to know more about Bitcoin, some of them who register here have already been involved in Bitcoin investment, their goal is only to get the latest information about Bitcoin and deepen their knowledge about investment.

The increasing number of new users registering on the forum indicates that Bitcoin is increasingly spreading to various groups, although the privacy of each user is not openly revealed, but I am sure that the users on this forum consist of teenagers, adults and parents who are around 50 years old or older.

This is a very bold way to do the analysis, and I really approve of it. However, there are several aspects that need to be taken into account before forming a final opinion on the informed guests of the population on the topic of cryptocurrencies. It is necessary to survey not only young people, but also young men, because they are also looking for where to invest their money. The location where the survey was conducted also plays a role. It is advisable to do this in different areas of the city, both poor and rich. And of course, you need to survey the maximum number of people. So that the analysis is accurate.

Going out physically to survey people about Bitcoin is a total waste of time and energy for me and for those young people you asked about it not knowing about Bitcoin it's either they do not want to talk about their assets with a stranger or that location has limited access to the internet, technology and financial education. Because Bitcoin is everywhere in the internet and as a matter of fact it has gained significant popularity since it's inception and mainstream adoption is gradually increasing that individuals, business owners and institutions are exploring and investing in Bitcoin.

You are absolutely right that there is no official adoption of Bitcoin by USA government and it is not likely to happen in the near future. However growing usage of Bitcoin by individuals and companies like BlackRock is contributing its spread all over the world. As you indicated , if Trump is elected then we might see more favorable legislation those could boost Bitcoin and other cryptocurrencies usage and development globally, particularly in western countries.

It is crucial to recognize that technological development in this industry in creating new job opportunities world-wide.