one reason. Is most people dont want to talk about the fundamentals of money. Many do not want to be educated about the flaws of current money system. Many are just blind to the truth. Many dont want to know history of money. Many may address inflation as a fault of someone else.
or people have no intention to look at the truth. Will take some time before people will look forward.
yes talking to someone on the street about the blockchain may not be interesting to someone who just is a walking zombie to their phone playing games all the time.
Topic: Why only 6.2 percent of American citizens own Bitcoin? - page 5. (Read 1535 times)
6.2 percent is not that bad there are only 5000 people respondents. Survey on 5000 people does not conclude anything, I google US population last 2018 the result is 327.2 million (2018). There are so many people that are not included or covered on that survey right? 5k compared 300M+ people. That is why I don't believe in surveys.
That is the way statistics work, if we had to consult everyone then we will never be able to know many things, statistics rely on getting a big enough sample and then make inferences about it, it is not perfect but it is better than not knowing anything and it is also cheaper as well, now about the statistic itself, it seems some are discouraged by those numbers but I think those numbers great, if in the future we reach 20% that could be enough to force business to stop ignoring bitcoin and accept it as a form of payment.6.2% is not so bad. More then I thought. I do somewhat agree with the first poster 5000 just isn't a big enough sample. You said it needs to be big enough. I think for a financial matter you would need to survey at least 20k people or so.
I think even if we reach just 10% it would be a good thing. 20% would be epic. I wonder what PayPal would be? How many people use PayPal in comparison.
So at the average superbowl 6200 out of the 100,000 people there will own Bitcoin. That sounds like a ludicrous figure to me and I don't buy it.
The survey size was 5000 and it says nothing about how they were chosen. I'm pretty sure it wasn't done at truck stops or Nascar races.
If they had any bias when they were selecting the sample then you are right their conclusions are useless, but it will also interesting to know the full extent of the survey since only a few details were released in the article, and about your observation about the super bowl, that is a very expensive event, you need money to assist and those that have money to spare on super bowl tickets could spare it to buy bitcoin, so while I have no way to prove this my intuition tells me the percentage of bitcoin holders among those assisting to the game should be higher than 6.2% if the survey is correct at all. The survey size was 5000 and it says nothing about how they were chosen. I'm pretty sure it wasn't done at truck stops or Nascar races.
I don't think anyone rely on the Americans for the Bitcoins and other cryptocurrencies honestly.
It takes time for people to settle in into something new , something they don't know about therefore even this much percentage is fine for the time being.
Some people are uneducated, some are poor , some doesn't even have the access to the internet , we cannot assume that everyone have internet and basic education therefore I think it is fine for the time being.
It takes time for people to settle in into something new , something they don't know about therefore even this much percentage is fine for the time being.
Some people are uneducated, some are poor , some doesn't even have the access to the internet , we cannot assume that everyone have internet and basic education therefore I think it is fine for the time being.
Hey OP, what assurance do you also have that the figure that you have there in that article is from a genuine source, because if you look at Americas, one of the largest exchange also came from there which is Coinbase, and if you also look at binance, it is because they hopefully have a large users from United State that made them to create a separate exchange for them according to the demand of the country, so I don’t want to believe that the number of users of cryptocurrency from US is that little and even if the percentage is little, change it to the population, we still have it running into millions and you can imagine if those millions put money into the market, how much in dollar that would be, and also, adoption is gradual, the figure will continue to increase until we have a substantial figure.
According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/
What you don't understand is, that people really don't have a clue what Bitcoin or cryptocurrency is. Sure they may have glimpsed a news article or seen a news briefing on tv, but how many people actual know how to use cryptocurrency. If you were to try and explain it to my grandmother, she'd say your tripping balls. If it hasn't got a push from a celebrity or major public influencers. People won't bother to touch it.https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/
This is why I feel Facebook's Libra is the answer to the mass adoption problem. Facebook alone could educate the world about Blockchain & cryptocurrency.
So at the average superbowl 6200 out of the 100,000 people there will own Bitcoin. That sounds like a ludicrous figure to me and I don't buy it.
The survey size was 5000 and it says nothing about how they were chosen. I'm pretty sure it wasn't done at truck stops or Nascar races.
The survey size was 5000 and it says nothing about how they were chosen. I'm pretty sure it wasn't done at truck stops or Nascar races.
It's simple, and there are some reasons, but I'll make short
BTC is not so easy to pay to use like a credit card for example, it require a few steps, but not so easy for people who are't into technology
BTC is in the hands of the most rich in US, people with high amounts of money and coins, it's not for the poor
BTC is not so easy to pay to use like a credit card for example, it require a few steps, but not so easy for people who are't into technology
BTC is in the hands of the most rich in US, people with high amounts of money and coins, it's not for the poor
6.2 still good and 7.3 percent were “considering to invest in Bitcoin.” is still good, after the halving that 7.3 can be added to the overall total if that number converts at least 70% of it, it's still good although there is no mentioned of the past surveys, but with that data we are moving forward and it will still go up, but on the percentage we'll know after a year or two.
In fact, 6.2 percent is not so small when you think about it.
Exactly. If only 1% of the world population owned some Bitcoin it would be worth 100 times more than it is now. Yes we'd be nearing a million dollars per coin for sure since there's less than 10 million BTC available for trade at exchanges. The rest is lost or held on cold wallets people aren't going to touch even if Bitcoin jumps by 1000% so all those billions of people will have to share 10 million bitcoins. Imagine the value, even when each of them decide to buy less than 1 mBTC. I wish we one day reach 6% in whole Europe.
6.2% is equivalent to 20 million bitcoin users in US. Thats a lot actually, add it all to the people in China who are using cryptocurrencies and to Russia and all the rest I think the world is already ready for cryptocurrency adoption. There are 6000 ATMs all over the world, if the coming bullrun ain't making anyone interested to see what exactly is Bitcoin and crypto I don't know what will.
I don't know how many people have adopted cryptocurrency so far, but I'm not really expecting like everyone to adopt it. I just see it mainly as a payment method and it's not a must that everyone will adopt it, it's a matter of choice. People are free to make use of whatever they like; whether they want to make use of any thing they want to use, whether cryptocurrency or fiat. I do know people that are making use of cryptocurrency for different purposes, some investment and some for transaction. There are lots of them that makes use of cryptocurrency and you might not know.
Likely it's a convenience issue. Americans love their credit cards and loans! I doubt they haven't heard it yet, most major network has made at least one story about Bitcoin.
That's true. Those I know prefer to make use of PayPal and when you mention Bitcoin they seem not to be interested in it. Maybe because it is volatile. Still their choice. Libra would have worked with PayPal I guess, if it was successful. In fact, 6.2 percent is not so small when you think about it.
Exactly. If only 1% of the world population owned some Bitcoin it would be worth 100 times more than it is now. Yes we'd be nearing a million dollars per coin for sure since there's less than 10 million BTC available for trade at exchanges. The rest is lost or held on cold wallets people aren't going to touch even if Bitcoin jumps by 1000% so all those billions of people will have to share 10 million bitcoins. Imagine the value, even when each of them decide to buy less than 1 mBTC. I wish we one day reach 6% in whole Europe.
Well to be honest, unlike the conventional method of investment present in the market, most American consumers prefer the traditional way of investment due to media influence and stigmatizing its reputation across the world.
To be honest, given the limited users and people who use cryptocurrency as an investment. 6.2% is a relatively large number given the population of the whole America. But you are actually right, the goal and aim here is to attract and gather more users to invest into cryptocurrency as this may be the future of transactions in the near future.
To be honest, given the limited users and people who use cryptocurrency as an investment. 6.2% is a relatively large number given the population of the whole America. But you are actually right, the goal and aim here is to attract and gather more users to invest into cryptocurrency as this may be the future of transactions in the near future.
According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/
Maybe they think that Bitcoin is too risky and Americans always use the dollar, so they are not interested in the purpose of digital money like BTC. It seems that many Americans think that if their money works well, why do they need a second option? https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/
According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/
Considering the level of adoption of Bitcoin globally, I think that 6.2 percent is quiet significant and I think it will grow more in the future as Bitcoin will get known. I think that Bitcoin is growing its popularity not that fast but as the time goes by the popularity increases exponentially especially when the price skyrocketed and more people would join especially now that some countries are legalizing Bitcoin and some well known personalities and companies are using cryptocurrencies then that would lead people to believe more on Bitcoin. https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/
6.2 percent is not that bad there are only 5000 people respondents. Survey on 5000 people does not conclude anything, I google US population last 2018 the result is 327.2 million (2018). There are so many people that are not included or covered on that survey right? 5k compared 300M+ people. That is why I don't believe in surveys.
That is the way statistics work, if we had to consult everyone then we will never be able to know many things, statistics rely on getting a big enough sample and then make inferences about it, it is not perfect but it is better than not knowing anything and it is also cheaper as well, now about the statistic itself, it seems some are discouraged by those numbers but I think those numbers great, if in the future we reach 20% that could be enough to force business to stop ignoring bitcoin and accept it as a form of payment. 
Never believe on those studies, they are done either to create FUD and sometimes FOMO. The situation is far grim than what we hear or read in those articles. Until regulation are passes assume what I am assuming.
After the 2017 Bitcoin price hike, things have change a lot. You never know who is opposing and who is supporting Bitcoin. Take the example of China suddenly they are not against Bitcoin
Something is not correct...
After the 2017 Bitcoin price hike, things have change a lot. You never know who is opposing and who is supporting Bitcoin. Take the example of China suddenly they are not against Bitcoin
Something is not correct...
The main thing to focus on is the growth rate for Bitcoin adoption in the USA as well as in the rest of the world. Before 2017, not many know own or know what CC is. Secondly, Bitcoin is a global currency and it doesn't matter how many in the USA own bitcoin, goal of bitcoin is to bring everyone in this ecosystem and BTC is successful in reaching to every corner of the world.
It doesn't matter how many percentage because it will still continue to grow. How many population does the America have, before we can say that, that 6.2 percent is a small percentage. It doesn't mean that a developed country, they're the one who are always ready with this kind of development...
And if we see it as something small, then let's work harder to promote cryptocurrency and bitcoin to other people. That's the only way we can help increasing bitcoin's adoption, not only in America, but with all other countries who doesn't have strict regulations with bitcoin.
You are right the use of bitcoin will continue to grow, and in that percentage I think it's good enough because it only counts in one country. I believe crypto user growth will continue to grow and if users in the United States of that size I think in other crypto users there will be more users do not stick to the country saur only And if we see it as something small, then let's work harder to promote cryptocurrency and bitcoin to other people. That's the only way we can help increasing bitcoin's adoption, not only in America, but with all other countries who doesn't have strict regulations with bitcoin.
It doesn't matter how many percentage because it will still continue to grow. How many population does the America have, before we can say that, that 6.2 percent is a small percentage. It doesn't mean that a developed country, they're the one who are always ready with this kind of development...
And if we see it as something small, then let's work harder to promote cryptocurrency and bitcoin to other people. That's the only way we can help increasing bitcoin's adoption, not only in America, but with all other countries who doesn't have strict regulations with bitcoin.
And if we see it as something small, then let's work harder to promote cryptocurrency and bitcoin to other people. That's the only way we can help increasing bitcoin's adoption, not only in America, but with all other countries who doesn't have strict regulations with bitcoin.
That is the scam , there is no mass adoption.
They use that to trick the rubes into buying/holding it.
The other scam is their is only a 21 million supply.
In reality, their is an almost infinite supply if they keep increasing to the right side of the decimal point.
are you just enjoying the sarcasm? Mass adoption is needed in the USA and some first world country where a good some of money can flow from to the space, so mass adoption is still the subject of a greater breakthrough Jump to: