Topic: Survey on Bitcoin ownership (Read 301 times)

For now I still hold bitcoin but altcoin is more common just because altcoin is cheaper and can be divided into several types. actually holding altcoin has more variety because it avoids huge losses, because usually not all will be red. bitcoin if the current price is quite alarming and down and up fast enough.

The only thing that I know about Bitcoin before I started becoming Bitcoiner is that,
It is a type of money that is being used in the deep web ,
So I see it as a token that could only be used there.

I agree this number is overhyped. But I know about 10-20 people who have bought BTC, many of them already sold (in loss)in Brazil.

However, I have many friends who are really engaged in investments, so my statics may be higher than normal.

Additionally, I believe that many more people are buying bitcoin but I just don't know (this is a private subject, not something public that everyone talks about)

I have learned about crypto with my partner and so far, we are only two who are holding Bitcoins in our family because our parents are old and our kids are still young for crypto technology. We have shared it with our friends and workmates before but they are still afraid to take the risks of investing until now. There are only two who are successfully doing trading and bounty hunting now. We're living in the Philippines but I'm glad that there are actually plenty of crypto lovers especially in different provinces in our country.

Our entire class way back 2018 knew about bitcoin, and this forum, of course, I introduced it to them but only 6 of them hooked up on this, but not totally dedicated on it, they've quitted and find an actual job when the market started to be beaten by the bear, and I am the only one remaining making money and gaining knowledge on this forum.

We're 24 in our class, by the way.

I think it's probably not even a quarter. It's quite frustrating to see so many surveys pop up nowadays, where they pull out some numbers out of their magical hat, but then don't disclose how that survey was conducted.

In a more realistic setting, I don't expect the actual percentage of people owning Bitcoin or any other crypto coin to be higher than 1%.... the actual use just doesn't rhyme with the high percentages these surveys spit out each time.

The only players in this space who know what the actual rate of adoption is are fiat exchanges such as Coinbase, but they haven't ever disclosed any actually useful figures, only raw metrics such as the number of accounts created.

I live in a small city in Southeast Asia, will tell in pm if you ask my country.
just two of us, me and my friend. He told me about bitcoin and here we are.
Mine, mostly in bitcoin (more than approximately $500) and still trying to accumulate more, a little bit of bch, eth, eos, and waves.
Those altcoins are the way to obtain more bitcoin. Hopefully, could add BTC0.1-BTC0.2 by the end of the year.
My friend, ummm he holds mostly in ETH and a small portion in btc (more than approximately $1000)

Exactly! I've already said (with some typing mistakes) that "I'm seriously curious about those numbers and if the mentioned percentage is reached even when centered around a bitcoin community".

If the percentages we get in the most biased selection group are not even close, and from the responses, they aren't, then it's clear proof those that bs surveys. I imagine this just like a survey on dark beer that claims 20% of the population is drinking dark beer, If you go and do the survey in pubs and there you won't reach 10 %, then it's pretty obvious they put an extra zero on it.


Exactly my point,  even now 10 years from the start we're at very low usage and ownership levels, the actual potential growth is still huge and if you look at those numbers 100k/BTC might not be ridiculous at all.

As for the richlist, there is a flaw, unfortunately people are forgetting the whole not your keys not your bitcoin saying and are storying coins on exchanges or web wallets, and those funds are all in one address.

That's easy to debunk with the Bitcoin Rich List:
Only 20,428,711 Bitcoin addresses are richter than 1 USD. With about 7.5 billion people on the planet, at most 0.27% of the population can own Bitcoin.
It's a safe assumption many people own more than 1 Bitcoin address, so I estimate the real number to be far less than 0.1% of the population.
Given this low number, it's amazing that almost everybody knows about Bitcoin! That's one hell of a potential userbase!

Now, to answer your question: I know several people IRL who own Bitcoin, some of them slightly influenced by me, some did it on their own.

just like the survey, your own tally is going to reveal flawed results

first of all you are asking in a crypto group. thus always going to get a result of every respondant saying they have coin

next those respondants more then likely gave coin to friends and family. even if the family dont know/understand crypto. EG future inheritance, free givaways, and such

next many 'geeks' 'nerds' dont have a massive diverse social group. so the variety of friends is limited. for instance if you asked warren buffet how many friends/family have stocks/shares. he would say all of them. because he is not the type of guy that makes friends with the homeless or waitresses on minimum wage.

...
as for other surveys
i have seen people on the street with a sign saying 'please answer a survey about charities'.. the results are that a high majority of respondants do donate. not because high population donates. but because those who do not are going to avoid entering into the survey to avoid embarrassment/shame of being seen as heartless

in my town whenever people see someone with a charity asking for donations, the common thing to say just to walk passed them is 'we already donated'. not only does it avoid having to put our hands in our pockets, but also avoids the guy stalking us trying to convince us, and avoids them shouting out bout how we have not donated but should.

the other surveys are based on like 2000 people out of ~327million.
these surveys usually would be mail bombed to known people in a certain industry, and also exclude certain population groups.

take for instance americas 327mill population ~60m are below the age of 15years and 50mill are above 65..
usually surveys exclude these age brackets meaning a third of the population is excluded

so if say 33mill say yes on a survey of such the actual % is not 10% but actually more like 6.6% if it was a true population survey no matter the question

then we get back to further shrinking down the survey by respondants. not everyone is interestd in filing out a survey about their finances. so this could cut the pool of respondants in more than half whereby the poor/uninterested in investments
wont respond. thus even AT BEST it would bring results of 3.3% true population.. though a survey site would still try to presume 10% said yes

its much like going to a trump rally and doing a popularity poll. ofcourse results would be majority fangirling over trump

my friends prefer to hold altcoin rather than bitcoin, I myself don't really like bitcoin because the fees are expensive and the transactions are rather slow, when i get bitcoin i will immediately exchange it for altcoin, of course altcoin is already popular and trusted, I more often hold Litecoin because of low costs and very fast transactions.

I live in Italy, but I do not see a strong public interest in Bitcoin. I have been trading for a year, but I do not find like-minded people among my family and friends, unfortunately

in my current area, there are only two of people of I know who hold bitcoin. my sister and a guy who I met on a remittance center while receiving the
bitcoin I converted into fiat. me and my sister are holding coins and the guy I met was into trading so I would assume he also holds some coins but I am
not sure what kind of coin. other than the guy I have 19 relatives who have heard of bitcoin including me and my sister but only the two of us owns/holds
a coin.

I live in Philippines and I can or actually gauge the number of bitcoin holder but so would say I know a lot of young people who are crypto enthusiasts in our country. I would also say only a little of our population is aware of crypto, but still the number of it is growing as time goes by.

I am living in the Philippines and I disagree with the 10-20% of the total population who were holding bitcoins. In our country the total population is around more or less 108 million total population. I also checked one of the leading brokers which the Philippine have and I checked the numbers and it does not even reached 1 million. So the bitcoin owners in the Philippines were less than 1% and so the 10 to 20% idea is only applicable to some countries but not all.

I live in EU, and I must say that I have met so far only one person who owned some crypto, but today I know a few of them who invest in crypto just because they learn about crypto from me. I can't generally talk about my country, but I've noticed that in larger cities where crypto ATMs exist there is a much greater interest of people for crypto than in rural areas. The availability of crypto-accepting stores also plays a huge role, so all this should be taken into account when doing a survey or research.

I suppose if someone does a survey in my town, there will be maybe 1-2% people who will say they own some crypto, but that percentage would very likely increase if the survey were made in the capital city.

In my opinion, the percentage of people who own crypto in any EU country is a maximum of 10%, but on average it is probably about 5% or less. Some studies say that at the global level, the percentage of those who are involved in any way with cryptocurrency is between 0.5-1%. If we take that as relevant information, we come to very modest numbers worldwide.

I think people around where I live(especially the business people) are a bit secretive about their Bitcoin/crypto holding. They sometimes will discuss Bitcoin but we don't say anything about our holding.
 But I noticed that quite a number of people openly talk about it on social media, local websites and sometimes on local forums. But it's weird how things work on one of the local forums am part of. The owner is quite hostile to cryptocurrencies but accepts crypto ads. I guess he did that because people complained alot about cryptocurrency related issues back then

there are two big problems here. the first one is that you are asking people on a bitcoin forum. so you will get a better percentages because in most cases people in bitcoin tell others about it and others may get in it. so we usually have more friends owning bitcoin than others. but you can't make any conclusion based on that because your selection process was flawed.
and second one is already mentioned, people are usually reluctant to reveal that much about themselves (where they live, if they have bitcoin,...) in public like this.

I have a friend who I introduced to Bitcoin in 2016. Today he Owns more bitcoin that me. That's not all. I have other friends who own at least 1-2BTC each. They're big time traders and probably make profits from their trading activities. Even in my school, some of my friends own BTC. It's no surprise that most people are getting aboard the revolution. People usually inquiry from me about how to get in on the BTC train.

Of about 50 co-workers in my office, just four of us hold any significant amount of bitcoin. A dozen of young people know about blockchain and how bitcoin works.
Due to bitcoin in news, almost all of them know it as a cryptocurrency.
People here mostly look at bitcoin as an investment opportunity and as it's debate of legality makes people hesitant on holding it. It's illegal to trade crypto here but nothing said about holding.