Topic: I found my reason, you can also find yours if you try - page 4. (Read 858 times)

It's really difficult to ascertain the amount of people that own or have used cryptocurrencies at a given period. And some of these surveys are not error-free. While others are conducted to achieve a given objective. I think this finding by the FED is targeted at disputing the report by Coinbase that fifty-two million Americans own cryptocurrencies. The research might have been conducted to misinform the public that crypto is not as popular as reported.

You are right a lot of people must have heard about bitcoin through one means or the other but they don't care about what it is or to know little about it which makes them not to understand the potential of bitcoin.

I was chilling at my friend's supermarket one evening, and three young ladies came in to buy some stuffs. They were arguing about something and when I listened it was about the price of bitcoin but what shocked me the most was when one of them said that bitcoin is not expensive and one bitcoin not up to $100. I immediately corrected them and left.

Op you story is not clear for me because in this present world like this you are telling us that you asked a question in your street and none knows bitcoin, that is strange. In my topical village,  99% of the youth knows bitcoin and if you said it was the aged group you asked and none was able to comprehend bitcoin then it would have been better. But saying the youth is not possible. Even though I didn't know your country, I still doubt your story.

And recently that airdrop has full the ecosystem even the aged now is mining airdrops and if you want to know that, just check your telegram and see how many people have registered to telegram after the successful launched and listing of NOTcoin and Dogs. I don't believe the fact that none in your street knows bitcoin. And nobody is late in the investment of bitcoin.

40% is a huge number , I don't think it's that big even for a country like the United States . According to another result that I found and this is a FED survey, they show that only 18 million US citizens own cryptocurrency by 2023 . That means less than 10% of the US population invests and owns cryptocurrencies and I don't think that number will increase rapidly by 2024. Obviously,  we do not have exact figures on the proportion of the population participating in this market .

It is difficult to know the exact percentage of people investing in bitcoin in each country because as we all know, investing in bitcoin can be done anonymously and without declaration . Instead , I think we should rely on other factors to know about bitcoin's popularity like market capitalization .  In my opinion, bitcoin's market cap of just over $1 trillion is too small, which means we are still very early and there is still room for growth in the future.



https://cointelegraph.com/news/american-adult-crypto-use-dropped-2023-fed-survey

If you try such assignment in my country, you will find yourself in prison because bitcoin has be banned by the government and is purely illegal to the financial institution in the country which people in the country will begin to see you as a fraudster to them, and you don't know the type of person you are meeting to ask about bitcoin whether the person is a police officer or government agent which I will not advice anyone in my country to carry out such assignment before they can believe is not too late to invest in bitcoin.

I don't need to dress up to go to the street to ask people question before I will know it too late to invest in bitcoin before i will know it is too late to invest in bitcoin, because I know that even people living in the rural areas know what bitcoin is all about, and even though you ask them they will pretend to you that they don't know bitcoin because they don't know who you are or what you want to collect from them, and they will not give you the right answer if the matter relate to bitcoin or crypto come up
Maybe your people are not familiar with internet in the community op, because bitcoin has gone globally through internet and even Uba and rural areas know bitcoin as a digital currency that is volatile to the users, well, I don't know the country you came from but I know that bitcoin has gone round the world for people to know that they can buy or sell bitcoin at anytim because they have seen or heard what people in that area has earned from bitcoin when they buy and sell their bitcoin.

Since I understand this bitcoin investment, I don't need to be panic than to continue to buy bitcoin to accumulate my portfolio because I know it will favour me when am ready to sell in the bull season.

Like I always say, bitcoin investments is one of the nicest crypto investments. However the very first step to becoming a nice bitcoin investor is to first gain a thorough basic knowledge about what bitcoin is and how it works. Many newbies out there rush into making bitcoin investments and in the either run into loss and tag bitcoin not worth investing in or they either lose their investment coins to some hacker or scammer just because they couldn't protect their coins.

After being able to understand certain core things concerning bitcoin like protecting your seed phrase , privacy and even a little about bitcoin price behaviour, one can then proceed to investing. Different people have their different methods of making bitcoin investments however it really doesn't matter as long as you are able to meet your target hodlings and protect your coins.

if I conduct a social experiment of this nature it's going surely end up having a positive results much better than what yours came out with in your area. in Nigeria we have a high rate of Bitcoin adoption and with the current rate of youth activeness on social media and the rest of the platforms I can say that at least 10 to 15 of 20 if interviewed about bitcoin will have at least a little knowledge of what bitcoin is, infact a lot of people in Nigeria currently know more about Bitcoin.

This is not to prove you wrong but just have it in mind that a lots of people knows about bitcoin even though they may not have a dime in it but in one way or the other knows about it. Additionally we don't even need to make this kind of social experiment to invest in bitcoin, truth remains that we don't have enough bitcoin and that should be our priority.

But the flip side of the survey shows that bitcoin is not as popular as we think. Many people say that bitcoin has become so popular that it has spread to every corner of the world, but it is all just hype if we go by your survey results.

The fact that not many people know about bitcoin is also seen as a huge opportunity and we are no different from pioneers in this revolution. But this also tells us that there are still many challenges ahead and it will take much longer before bitcoin can be mass adopted.

Also, as some have said, are the people you ask telling the truth? Because anyone who knows and invests in bitcoin knows how important privacy is. If it were me, I wouldn't answer truthfully if a stranger on the street asked me about bitcoin.

Are you perhaps a journalist or a reporter? Walking down the street and stopping people like a normal person and asking such questions could get you into very awkward situations (at least in my environment). At the same time, you should also add the risk that you can expose yourself to, considering that you will draw attention to yourself as someone who may own Bitcoin.



I don't have to ask people anything, I know that at one point the turnover with cryptocurrencies reached the value of trading on the stock exchanges, which means that people already know what Bitcoin is. What happened to you is only a specific situation for your country or the place where you live.


If according to you, BTC has not entered the mainstream after 15 years, how many years will it take for that to happen? I think that this already happened when large companies started investing in it, and this has been going on for years. Of course, this is not a reason for someone not to buy BTC today or in 5 years, it's just a matter of what the price is and how much money you have at that moment.

This is for me a personal question and I believe that no one will answer directly their knowledge in bitcoin because of they may become compromised in some manner .

like if i am to be asked? my answer will definitely "NO am NOT"

will let others to give their opinion in this one .

It is simple, people will refer to pretend as if they don't know, so that they can sleep well at night.

I don't know how safe your country or city is but this is not a good idea for everyone.

I will not do it and other people should not do it because this advice is risky.

You can do your research online and make your decision. There is no convincing reason, at least in my opinion and for me, to hang out and do direct face to face interviews around with many people, just to get answers about their interests on Bitcoin.

What risk I meant?
Physical attacks that can range from minor to severe consequence like death.

You can do a simple math for comparison.

Bitcoin has its total supply is 21M bitcoins and there are already 19.75M bitcoins appear through mining since 2009 and those coins owned and lost by many people. There is only 1.25M extra bitcoins till 2140 through mining and newcomers will have to compete each other to own those coins.
The current world population is 8.2B.
https://www.worldometers.info/world-population/

If we go by the deflationary model of the bitcoin, it is never too late to invest in this.

What an interesting experiment you propose and I have nothing to say in response. It really does demonstrate that the potential for growth of bitcoin is still large. But it seems to me that not all people will buy and own bitcoin (for various reasons), seeing in everyone they meet a future BTC-investor.
 
If governments' passion for accumulating bitcoin continues, this mainstream will cease to exist. People will simply not have any "free" bitcoins left.

If we don't believe in a "bright" future, we can do nothing at all, but this strategy is a losing one. Therefore, I'd better believe in it.

Why ask around my street when I can make my research online, the research you get online are more quality than the physical research especially in our current world today. You ask someone about bitcoin probably you asked for little knowledge for example, it’s certain your privacy is no longer safe at the moment. Bitcoin has not even gotten to the big spot yet despite the value so that’s enough reason we should invest now and enjoy the benefit, it’s still best we invest and Prioritize our privacy.

I don't doubt what you just said but your conclusion in this issue is based on your location. In the US it is estimated that about 80% of the people there know about cryptocurrency. While about 40% own it. But in Africa, you won't get the same result because crypto awareness and adoption is low.

US Statistics


https://www.security.org/digital-security/cryptocurrency-annual-consumer-report/

Morocco Statistics


In Morroco just 1.92% of the population owns cryptocurrency. It can be assumed that crypto awareness is also low.
https://www.linkedin.com/pulse/tracing-cryptocurrency-adoption-regulation-innovation-africa-n29lf 

I will say this depends on the area you're residing in and how exposed they are to technology. In my street, almost 80% of youths that are above 18 years knows about Bitcoin. They might not know key details about investing in Bitcoin or understand how Bitcoin volatility works or the potentials that lies in investing in Bitcoin but they know that you can own Bitcoin and use it as a medium of receiving payment.

I don't need to do that kind of survey before being convinced that I'm not too late to continue buying Bitcoin. Those kind of thing is mostly for people that don't believe in how precious bitcoin his but just want to buy it for the sake of what they've hard about it potential. I know one or two things about the current state of Bitcoin and I'm not just holding my Bitcoin just because I'm expectant of Bitcoin price to hit too high anytime soon. I'm holding Bitcoin for security reasons, because it's the best digital form of storing value and because regardless of the effect of inflation that's currently a serious issue globally, Bitcoin is still an edge against inflation.

That is an interesting approach and I have noticed it as well. Although I have to clarify that most people have heard about bitcoin. They have heard the name at least, in a movie, on TV, or something like that. They just don't know what bitcoin is. They've never bothered looking into it. Some of them may have a vague and usually wrong idea. But this all means one thing: bitcoin adoption is still very minimal and it can only rise!

My first involvement in crypto was through airdrops, and that was when airdrops were still very rewarding. I expanded my knowledge in crypto through self-research, and that could have never been done if airdrop hadn't brought me in contact with cryptocurrency. Although most people are too lazy to even study the origin of what they are doing or how to come about crypto, the rest of them care about how to earn that free money by doing the simple task they are asked to do.

A nice take on the fact that Bitcoin is still young, though I can't do such
Don't have that energy and time to waste not to mention don't want to come out as been weird/koko, but still depends on the environment
In my country for example, if you haven't heard about Bitcoin you living under a rock.
It's quite a mainstream name
But that's it
The number of people that really know about it are very very low.
The highest they usually know is that Bitcoin is expensive.
Not even knowing you can buy units.

knowing about airdrop doesn't mean one knows about Bitcoin.
In the airdrops many just care about pursuing the shitcoin and selling their data (especially those that warrant KYC)
So why would they even care about Big old Bitcoin
When it doesn't have airdrops

Many people are too lazy to go through the information to learn something new. For example: Recently, there was a conversation in the city chat of the Telegram channel; some cryptocurrency information was discussed. So from the discussion of people, I understand that they mix everything, both bitcoin and altcoin. There are a few literate people who sparkle with thoughts about the usefulness of investing in Bitcoin, but most of them are those who just tap or tap on the screen, completely not understanding what they will do next. Based on this, we can conclude that people (most) do not go into detail about crypto. In my country, this is very rare. And I have no desire to run and prove that investments will help them and take responsibility for their education. The Internet is huge; everyone looks for what they like. The choice is up to the people.