Topic: What makes a country ripe for Bitcoin adoption? Death, research, money. (Read 2993 times)
legendary
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August 24, 2013, 01:13:14 AM
SPSS data but not sure where we find the data for who is interested in bitcoin
August 23, 2013, 12:08:54 PM
The US was an early adopter so no need to explain them. For the rest of the world it seems two things are important:
1. Tech savvy population
2. Open to ideas from foreign countries.
Japan has 1 but not 2. Maybe the south koreans are similarly insular?
1. Tech savvy population
2. Open to ideas from foreign countries.
Japan has 1 but not 2. Maybe the south koreans are similarly insular?
August 23, 2013, 07:36:40 AM
Inflation rate.
I think that is the critical factor. Argentina has an inflation rate of between 20% and 40% per annum. Economists get prosecuted if they try to report a correct figure. When people lose trust in their national currency and velocity is increasing then Bitcoin usage will climb fast. There has not been a full-blown hyperinflation while a viable cryptocurrency exists. Bitcoin needs more development and no fiat is on its deathbed yet. But the time is approaching when both events come together.
I think that is the critical factor. Argentina has an inflation rate of between 20% and 40% per annum. Economists get prosecuted if they try to report a correct figure. When people lose trust in their national currency and velocity is increasing then Bitcoin usage will climb fast. There has not been a full-blown hyperinflation while a viable cryptocurrency exists. Bitcoin needs more development and no fiat is on its deathbed yet. But the time is approaching when both events come together.
August 23, 2013, 07:07:48 AM
The higher the GDP per capita, % of researchers in population, and mortality rate are, the more likely a country's citizens are to be interested in BTC.
Here is the Google Trends map ("Bitcoin" - darker = more searches per person):
[2005] Here is GDP PPP per capita:
[2008] Mortality rate:
[
?] #Researchers/million (still some big outliers, like Japan - but that could be from bad GTrends data):
Google Trends is a crap starting point to try gauging interest by country, but I'm not aware of a better data set. Incidentally, I was surprised to learn Serbians and Russians smoke more regularly than drink water.
Other points of interest: there doesn't appear to be a strong correlation between Internet connectivity and Bitcoin interest. There may be a strong correlation between average age of first sexual intercourse and BTC interest (or it's just Scandinavia biasing). While GDP PPP matches up fairly well, income disparity isn't a factor.
(on a serious note, if someone has actually found indicators, I'm eager to see them!)
Here is the Google Trends map ("Bitcoin" - darker = more searches per person):
[2005] Here is GDP PPP per capita:
[2008] Mortality rate:
[
?] #Researchers/million (still some big outliers, like Japan - but that could be from bad GTrends data):Google Trends is a crap starting point to try gauging interest by country, but I'm not aware of a better data set. Incidentally, I was surprised to learn Serbians and Russians smoke more regularly than drink water.
Other points of interest: there doesn't appear to be a strong correlation between Internet connectivity and Bitcoin interest. There may be a strong correlation between average age of first sexual intercourse and BTC interest (or it's just Scandinavia biasing). While GDP PPP matches up fairly well, income disparity isn't a factor.
(on a serious note, if someone has actually found indicators, I'm eager to see them!)
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