The reason for this is quite simple, because most of the American citizens are so deep in debt, that it is impossible for them to have disposable income to invest in things like Bitcoin. A lot of the people who are invested, bought those bitcoins on credit and they hope and pray that the price would go up, so that they would be in a better position to pay back the debt.
" As of October 2018, foreigners owned $6.2 trillion of U.S. debt, or approximately 39 percent of the debt held by the public of $16.1 trillion and 28 percent of the total debt of $21.8 trillion. " - Source : https://en.m.wikipedia.org/wiki/National_debt_of_the_United_States
Topic: Why only 6.2 percent of American citizens own Bitcoin? - page 8. (Read 1526 times)
That percentage is enough considering the actual populations of the country. More of those people who owns bitcoins are those who are open for
advance technology, people that gain enough information about this system and willing to embrace and adopt. Not only for investment but also
to understand how blockchain system will work and help individually. It's not all being represented by numbers but also by the hold figures.
advance technology, people that gain enough information about this system and willing to embrace and adopt. Not only for investment but also
to understand how blockchain system will work and help individually. It's not all being represented by numbers but also by the hold figures.
Bitcoin is more profitable for developing countries. That's why I think there are more people in those countries who own bitcoin. Maybe why we believe that they should be leading in crypto is because they've already developed and advanced in technology compared to other countries but in reality, people in third world country needs it more for income and profit that's why they're so into bitcoin and crypto.
Bitcoin still needs more recognition. And the government stand on crypto affects a lot on countries adoption. Even if it's a developed country but the government is against it, don't expect mass adoption.
Bitcoin still needs more recognition. And the government stand on crypto affects a lot on countries adoption. Even if it's a developed country but the government is against it, don't expect mass adoption.
I have read not 6.2% but as many as 8% of all Americans who already have Bitcoin. in my opinion the amount of 8% is quite a lot. and maybe 8% are represented by millennials.
and in my opinion it is indeed millennial generation that can use and utilize bitcoin well. but I am optimistic that the United States is a country that is friendly to bitcoin because a lot of crypto and exchanges come from America. so I'm sure the number of bitcoin users in America will always increase.
and in my opinion it is indeed millennial generation that can use and utilize bitcoin well. but I am optimistic that the United States is a country that is friendly to bitcoin because a lot of crypto and exchanges come from America. so I'm sure the number of bitcoin users in America will always increase.
The percentage of 6.2% for Americans who own bitcoin is a pretty good percentage, compared to other countries that have
has a smaller percentage. American citizens still invest less in bitcoin because bitcoin prices are volatile, make them frightened
by this. So they prefer investing in the stock market compared to bitcoin. Not to mention the use of bitcoin can not be applied
its use in everyday life, making Americans still choose to use fiat. But in my opinion it takes a long process so that bitcoin can
be accepted by all the people of the world. Therefore the growth of bitcoin will continue and I am sure that in about 10 years
bitcoin owners will increase double from now.
has a smaller percentage. American citizens still invest less in bitcoin because bitcoin prices are volatile, make them frightened
by this. So they prefer investing in the stock market compared to bitcoin. Not to mention the use of bitcoin can not be applied
its use in everyday life, making Americans still choose to use fiat. But in my opinion it takes a long process so that bitcoin can
be accepted by all the people of the world. Therefore the growth of bitcoin will continue and I am sure that in about 10 years
bitcoin owners will increase double from now.
But the fact that there are many individual in the US that accumulated much volume of the cryptocurrencies such as Roger Ver, Garvin Andresen, and Barry Silbert, they contribute so much in the volume and market cap of bitcoin. Thus, disregarding the small investors they have in their country.
With regards to the 10 year period, for me, the adoption of cryptocurrency worldwide is increasing exponentially. So it will take only up to 3 years for the investors to double.
...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.
I am not complaining with that number because that can mean millions too. However, after 11 years and after all the hypes and FUDs surrounding Bitcoin, maybe you expect that at least a quarter of the populations should have holding any amount of Bitcoin. Well, Bitcoin is not that really a very convenient currency unlike the fiat one which we can easily just transfer from one hand to another. Definitely, with Bitcoin there is that learning curve plus if one is not careful there is that risk of losing the coin by any means not to mention the many scammers and hackers just lurking anywhere online.
On the other hand, the very reasons why we have Bitcoin in the 2008-2009 financial crisis have now faded, maybe we should be waiting for another recession for Bitcoin to be a hot and on focused digital asset again. At the height of Bitcoin's popularity in 2017, speculations were the reason why Bitcoin was pushed upward and right now we don't have that kind of level of frenzied activities yet. Plus, there is no marketing campaign done for Bitcoin and in the global marketplace where brands are vying for attention, an ongoing and fully-funded advertising campaign can be needed, sadly here we don't have that privilege.
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/
https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/
maybe because there are several factors that make some Americans not interested in adopting bitcoin, maybe it's because their country's government doesn't like bitcoin and prohibits cryptocurrency in that country, and maybe they aren't interested in bitcoin because for them bitcoin can't be used to meet daily needs day is not like fiat money that we can use anytime and anywhere, but in my opinion 6.2% is included in a decent amount compared to other countries.
The percentage of 6.2% for Americans who own bitcoin is a pretty good percentage, compared to other countries that have
has a smaller percentage. American citizens still invest less in bitcoin because bitcoin prices are volatile, make them frightened
by this. So they prefer investing in the stock market compared to bitcoin. Not to mention the use of bitcoin can not be applied
its use in everyday life, making Americans still choose to use fiat. But in my opinion it takes a long process so that bitcoin can
be accepted by all the people of the world. Therefore the growth of bitcoin will continue and I am sure that in about 10 years
bitcoin owners will increase double from now.
has a smaller percentage. American citizens still invest less in bitcoin because bitcoin prices are volatile, make them frightened
by this. So they prefer investing in the stock market compared to bitcoin. Not to mention the use of bitcoin can not be applied
its use in everyday life, making Americans still choose to use fiat. But in my opinion it takes a long process so that bitcoin can
be accepted by all the people of the world. Therefore the growth of bitcoin will continue and I am sure that in about 10 years
bitcoin owners will increase double from now.
One reason might be the media in these countries. It's not just about whether it's a developed country or not. Other factors include public portrayal, and government stance on these cryptocurrencies. As far as I know, President Trump is still against cryptocurrencies, which with the respect to him by the public as one who knows what he says, have an impact to public's mindset about cryptocurrencies. In addition, media in this country shows negative news to crypto, such as those being scammed, which adds up to public's uninterest.
6.2% still sounds high to me. I mean half of Americans don't even participate in the stock exchange at all and I'm guessing most are from their retirement programs.
What's been stated in the article is reasonable. The same if we calculate in terms of the numbers comparing with other countries it is big. The 6.2% is more than 20 million people. If USA has got such a userbase in its population other countries with big population will have almost similar number of bitcoin users. This means there is growth, maybe the same can reach 10% soon. One in ten person holding bitcoin is simply good.
Bitcoin is still largely associated with risk and volatility, so it's not surprising that adoption is low, though I agree with all the above posters who say that 6.2% is a decent number. I once saw a youtube video where a guy offered random people on the street a small bet that gave them an edge, and most people still refused to take it, even though it had positive expected value. It demonstrates that people tend to minimize their risks, even at the cost missing good opportunities.
It's not unreasonable, it's reasonable to be honest. And it's an amazing percentage considering that bitcoin has been not so old kind of investment and has been told with so many bad stories everywhere and mostly on the states and yet, there's that amount of people that owns bitcoin. What are you expecting?
100% of them will be into bitcoin? not everyone would be using or investing in bitcoin and the same goes for other kinds of investing instruments where many are sharing.
100% of them will be into bitcoin? not everyone would be using or investing in bitcoin and the same goes for other kinds of investing instruments where many are sharing.
At least it has grow as compare to this survey, US Gallup Poll Shows Only 2% of American Investors Own Bitcoin, which was done in 2018.
So Americans are slowly getting into the picture, and perhaps because the price is bitcoin is way below it's all-time-high, majority is still keen on putting their money on the market as of now.
So Americans are slowly getting into the picture, and perhaps because the price is bitcoin is way below it's all-time-high, majority is still keen on putting their money on the market as of now.
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/
This is as a result of cryptocurrency regulations in the US, it restricts citizens from participants in cryptocurrency related projects, before you can participate in a permit https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/
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
To topic author, don't write whole post content in bigger font/color. Its against common good behaviour on forums.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
About topic itself, i agree BTC is in early stage and demand some knowledge still to be able to maintain it and use it properly. It will get easier in time, and it will be less viable to invest then, but will be more viable to use it on daily basis.
We are still early adopters.
So, you want to say that over 20 millions people is small number? Uh, don't know... It depends how you see glass of water - it's half empty or half full...
It's difficult to analyse this survey, because this number is hanging alone in the air. It would be interesting to compare it with other countries, how much % of their population own Bitcoin.
And all these surveys don't allways reflect real situation, there many factors why, but I'm lazy to go deep into details about it. If surveys would be 100% correct, Hillary would be US president and UK would had voted to stay...
It's difficult to analyse this survey, because this number is hanging alone in the air. It would be interesting to compare it with other countries, how much % of their population own Bitcoin.
And all these surveys don't allways reflect real situation, there many factors why, but I'm lazy to go deep into details about it. If surveys would be 100% correct, Hillary would be US president and UK would had voted to stay...
My first answer would be because all of us can't be rich. When Apple or Microsoft were entering the market only a very small number of people were buying their shares. There's always a degree of uncertainty when dealing with new things.
You're reluctant to try out new food or go to a foreign country and you're naturally reluctant to put money into new things even when deep down you feel they could become big.
You're reluctant to try out new food or go to a foreign country and you're naturally reluctant to put money into new things even when deep down you feel they could become big.
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.
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/
https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/
- The community is relying on Americans for mass adoption? Says who? I think many people don't realize that they could very easily pull the rug out from under America and effectively remove her from a position of dominance, simply by using Bitcoin. America is not that big... if Europe and China decide to use Bitcoin for international settlement and trade, instead of US dollars, then America is fucked!!!
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/
https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/
I am not an American citizen, I think people in america isn't so much interested in the new bitcoin as new form of money because they didn't understand well how bitcoin works in the new technology as future currency worldwide people of america focus what they now nit lookingbfor the future of the new era of technology, that's is only my own opinion.
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