Topic: Why only 6.2 percent of American citizens own Bitcoin? - page 6. (Read 1526 times)
i heard before that cryptos such as bitcoin are banned on the america/u.s country and that simply means that the number of 6.2 percent is still reasonable but its surprising that how can people still use crypto on that country ? or maybe im wrong , maybe its not totally banned at all but only being restricted on most countries but those percentage are not forever because i believe that once bitcoin and cryptos are recognized by the most countries , other fewer ones wont have a choice but to also suport it .
I believe that people who rely on bitcoin more are the less developed countries whose citizens are sourcing for themselves on ways to survive and thus, they see bitcoin as a heaven made avenue. Hence, they struggle to convert their little fiat into bitcoin to trade or hodl with the expectation of fast increase. Countries like the US that have good economic base won't have too many citizen relying on hodling bitcoin, the government have taken care of the basic needs including employment.
Not only in America, but I think almost all countries also few citizens who have Bitcoin. This is because their knowledge about the world of Cryptocurrency is still low so they think that Bitcoin is just a game, wasting time. But for those who already understand about Bitcoin I'm sure they will have the desire to have 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.
Include the population who don't want to take and be part of the survey, and since this is a random selected survey we can't be 100% sure on this. 6% is still a good number actually compare to other countries who are none users at all. Maybe some US Citizen who owns bitcoin doesn't want to expose themselves so they avoid the tax considering the rate on US is quiet high. The number of users who owns bitcoin are increasing every year, US is a good place for that.
Binance once lost more than half of their daily trading volume traffic when they closed services for US citizens from their global websites, and at the same time it also had an impact on Bitmex volume. Speculation from the media cannot prove the phenomenon because they do not have accurate data, but that is a fact that has existed. US holders still look more comfortable hiding their bitcoin assets factually.
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/
6.2% is it a lot or a little?I think it's a lot. I'm sure it'll be at least three times as much in five more years. It seems to me very difficult to count the owners of cryptocurrencies.Therefore, not the fact that this figure is real.that the actual number of owners of cryptocurrencies in America is much higher. https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/
It may look small but 6.2% is around 20.2 million US citizens using cryptocurrencies, trading it, or even mining it. That kind of number is something to be comfortable as a crypto enthusiast because really we are in the millions in the country of USA alone what more if we count the total users/hodlers of BTC around the world? I'm sure that will be more than double especially we have crypto friendly countries like Japan and Korea leading the way. That 20.2 million US citizens can also be considered as demand and I don't think big companies will deny the opportunity to take advantage of it, we've seen companies like Steam previously take advantage of it in the early phase and I don't think it will stop there.
I went for the population in number when I saw the 6.2%, It is not that small fraction of the population. With a sample size of 5000, I dont consider that a good representative sample of the whole America population. This is a country with a wide disparity in technology, education, race, economy etc which are factors that can determine the knowledge of investment and personal finance decision.
Because the cryptocurrency industry still has several drawbacks that understandably give experienced investors pause when they're choosing whether to invest.
The market is largely manipulated, most cryptocurrencies are so volatile they're downright dangerous to hold, and there are very few regulated investment options for investors.
If you were an experienced trader, you would stay well clear too.
The market is largely manipulated, most cryptocurrencies are so volatile they're downright dangerous to hold, and there are very few regulated investment options for investors.
If you were an experienced trader, you would stay well clear too.
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
Oh, if you ask people here, it's one of the most easiest payment method available in this universe but in reality it is not and what you wrote is 100% right, why to waste time on opening bitcoin wallet and sending btc to specific address while we can easily touch our visa/master cards to terminal.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
And why isn't btc for poor people? I think more likely they are looking for easy money and when we talk about easy money, bitcoin always pops up because of various reasons.
Also if that percentage of people who own bitcoin in USA is right, which according to post is 6.2% it's still pretty good. Maybe this percentage sounds low but in overall, to calculate 6.2% of population, it's still good number.
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/
America is a great nation and with a great number of population so having 6.2% of the entire nation using bitcoin is quite a large amount mate. Also considering all he harsh regulation policies that surround cryptocurrencies and the fact that users can get charged high fees if they don't comply with the rules. It's a step in the right direction, let's hope this number increases with time now that we have seen China softening up on cryptocurrencies. 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/
I've read the article and it shows that the majority of the respondents do not own any cryptocurrency, specifically bitcoin and also not interested about buying some anytime soon or later. The reason why bitcoin's adoption has been hitting the critical level of popularity index is because people hasn't even heard of it and barely know what bitcoin is all about, bitcoin is lacking in terms of the marketing that advertise it and make it to the mainstream. The popularity and the good image of bitcoin only circulates within the cryptospace, not reaching non BTC fans and letting them know the things that hooked crypto enthusiast's interests.https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/
Also, people that are said to be 55 of age above increased the number of non-BTC fans, that article was right that this was probably because people of thatge is nearung the retirement age and would prefer investing in a stable coin rather than bitcoin which is very volatile and risky to even start.
Hey, 6.2% is not bad at all IMO. That means there's lots of room for growth.
6.2% of American people is not a small population, we are talking here millions out of 100% that owns bitcoin and that is roughly 18 million people. Let us not factor out the ages or who knows what crypto is, that would be different approach. Amazingly that is already a growth.I've always thought that the reason most Americans (and most people in general) don't own bitcoin is because they don't see a real need for a replacement for fiat. The USD is a very stable currency, inflation concerns aside, and American citizens don't feel the need to go way out of their way to buy another currency with their USD simply for the sake of spending it. That's mainly why bitcoin doesn't get used as a currency.
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.
If there are 327 million American citizens, 6.2% of it is 20.3 million. Which means there are 20.3 million Americans that own Bitcoin. If about one-fourth of the Americans are aged 20 to 40 or 81.7 million, it means that one-fourth of them are owning Bitcoins. Which is not bad after all. 20 to 40 years old are the working class and they will be the most influential in the next 20 years. If bitcoin continues to scale accordingly then the future looked very promising.
Bitcoin is not fully adopted so for me the 6.2% is a good thing in crypto-space and I'm pretty sure that it will grow more in the few years though I'm thinking that maybe some Americans are staying away from Bitcoin is because there are lot of rejection in hearings recently that pertains to Bitcoin which is held in their country.
How can you say 6.2% is an only part of total American citizens. 6.2% is really big if you'll gonna compute it to the total American citizen population right now. It is well over 20million people who own bitcoin in the America and that is ridiculously big compared to other countries.
Because the US government is still trying to resist the spread of cryptocurrencies.
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
I would disagree with both the points.
1. Making payments with Bitcoin is easier than doing so with credit cards. That is true at least for the online payments. My only concern would be the transaction fee for Bitcoin, which can be volatile.
2. The second point is not right. Actually it is the opposite case. Bitcoin is an asset that can be held by the poor as well. Because Bitcoin is almost infinitely divisible and it is possible to purchase BTC for very small amounts (like $5 or $10). This advantage is not available for any of the other assets, including stocks, bullion, treasury bonds and real estate.
because there, bitcoin/crypto has not been fully legalized. This is the main reason why there are still many people who do not have bitcoin. the US government is very strict in this matter, just look like the case of libra and telegram. the two projects are still uncertain, because the US government has not yet given permission.
Only 6.2% and btc price reach as high as $20,000 and it's just running for 10 years. There will be a lot of changes and adoptions soon not only with the americans but also to another countries. One of the reasons why only 6.2% of americans holds btc because they have a lot of choices to put their money in like the stocks and some retirement plans and other retirement investment form.
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