Why only 6.2 percent of American citizens own Bitcoin? - page 9.

LeGaulois

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Quote from: rdluffy on November 10, 2019, 01:39:13 PM

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

It's not a problem. The majority of people use cryptocurrencies either as a speculative asset or a store of value.

The title says "ONLY", but this is subjective. See what I mean, in the US there are over 300 million citizens, 6%=20 million. Not bad I would say, it's even surprising consider all the low information voters there are there.

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One interesting fact that popped from the study was that more women were entering into the cryptocurrency realm.

milani

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Quote from: rdluffy on November 10, 2019, 01:39:13 PM

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

I am agree with words about credit cards. Too many people can't use crypto in everyday life because transactions and lots of nuances are difficult for their understanding. Lots of people would prefer to use ordinary credit card that do not need some manipulations yhat crypto still needs. But in case the government would decide to implement crypto into payment systems all over the country, it would not be a great problem i think...The other reason that this country has rich and poor clans like lots of other countries have, and rich people prefer to concentrate the crypto assets in their hands rather then allow to become masses rich))))) may be that's why this country is so strict as for to crypto?...

hello_good_sir

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Not a lot of people have enough money to be able to throw around in investments, for an advanced economy, it's actually surprising how many people lack any real savings and live paycheck to paycheck.

If you are living paycheck to paycheck, which looks like is around 78% of all US workers - it basically handicaps your financial options and it'll be impossible for you to produce actual savings.

I can guarantee that all of the 6.2% is from a wealthy background and are able to throw money like that around.

figmentofmyass

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another study claimed that 14.4% of americans own cryptocurrency: https://bitcointalksearch.org/topic/a-rising-number-of-americans-own-crypto-and-nearly-13-million-women-says-study-5196823

6.2% sounds a lot more reasonable to me, though it might still be exaggerated. that's over 20 million people!

Quote from: The Sceptical Chymist on November 10, 2019, 02:16:17 PM

Hey, 6.2% is not bad at all IMO. That means there's lots of room for growth.

yes sir! the lower the number, the earlier we are in terms of being "early adopters". not a bad problem to have if you ask me. Cool

Quote from: The Sceptical Chymist on November 10, 2019, 02:16:17 PM

Second, if someone in the US is looking to invest their money in something, it's usually stocks and more specifically 401(k) retirement plans, and if it isn't that it'll either be individual stocks or mutual funds.

if an ETF or other bitcoin security makes it possible to invest through 401(k) plans, things are gonna get interesting.

The Sceptical Chymist

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Hey, 6.2% is not bad at all IMO. That means there's lots of room for 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.

Second, if someone in the US is looking to invest their money in something, it's usually stocks and more specifically 401(k) retirement plans, and if it isn't that it'll either be individual stocks or mutual funds. Bitcoin is ten years old, but it's still a fairly new form of investment--and an extremely risky one at that. An investor who doesn't have a big appetite for risk isn't going to be attracted to crypto at all, and there are a LOT of people who don't like taking big risks with their money.

I'm actually surprised that even 6.2% of Americans own bitcoin, if that number can be trusted. It might sound low, but it's higher than I thought it would be.

rdluffy

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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

Johnii

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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/

Topic: Why only 6.2 percent of American citizens own Bitcoin? - page 9. (Read 1526 times)