Topic: What BTC adoption in South Korea tells us about future US adoption (Read 133 times)
Is this supposed to make us feel bullish long term about crypto adoption? I mean I am already as bullish as can be if I think crypto is going to get integrated even more into society they will start calling me a crypto maximalist. Is it incorrect if it is the truth though, because I don't see a society in the future that doesn't have blockchain and crypto as a part of it.
January 27, 2018, 01:56:59 PM
A recent study showed at least 30% of the population in South Korea own Bitcoin/Crypto vs. only a few % in the United States.
Let me tell you one thing from the start.
That number is BS. Pure BS. One a scale from 0 to 10 is at 1534.
The article mentions polls, but somehow they avoid linking to those polls..wonder why?
Probably because of this:
https://news.bitcoin.com/31-of-south-korean-workers-are-cryptocurrency-investors/
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On Wednesday, online job portal Saramin surveyed 941 salaried people in South Korea, and 31.3% of them claimed to have invested in virtual currencies, with an average investment of 5.66 million won ($5,300).
Till now everything is fine until...
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It is estimated that 2 million people in South Korea possess bitcoin and other digital currencies.
That is 3% not 30%.
If there would be indeed 20 millions Koreans holding coins we wouldn't be hovering just above 10k in fear of dropping back to 4 digits.
January 27, 2018, 12:44:29 PM
A recent study showed at least 30% of the population in South Korea own Bitcoin/Crypto vs. only a few % in the United States.
https://www.cryptoambit.com/blog/2018/1/21/south-korea-and-the-crypto-craze
South Korea though is always very tech savvy and often the first to adopt new tech.
In 2004/5 when social media was barely a blip in the west, CyWorld, a social networking site in South Korea was already used by 95% of people in their twenties and 25% of South Korea.
https://en.m.wikipedia.org/wiki/Cyworld
As most of us know by 2009 Social media jumped from a few % in the US to 85% of people in their twenties using it, predominantly Facebook.
2018 could be like social media in 2005 where South Korea is fully on board first & the rest of the world will reach those high levels of Bitcoin and crypto use over the next few years.
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according to recent polls, 30% of salaried workers in South Korea own cryptocurrencies, while Simon estimates that the real figure is closer to 50%.
https://www.cryptoambit.com/blog/2018/1/21/south-korea-and-the-crypto-craze
South Korea though is always very tech savvy and often the first to adopt new tech.
In 2004/5 when social media was barely a blip in the west, CyWorld, a social networking site in South Korea was already used by 95% of people in their twenties and 25% of South Korea.
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Cyworld (Hangul: 싸이월드) is a South Korean social network service...With 2005 claims that practically every South Korean in their twenties[8] and 25 percent of the South Korean population[9] were users
https://en.m.wikipedia.org/wiki/Cyworld
As most of us know by 2009 Social media jumped from a few % in the US to 85% of people in their twenties using it, predominantly Facebook.
2018 could be like social media in 2005 where South Korea is fully on board first & the rest of the world will reach those high levels of Bitcoin and crypto use over the next few years.
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