Bitcoin Forum

http://www.coindesk.com/new-coindesk-report-reveals-who-really-uses-bitcoin/ (http://www.coindesk.com/new-coindesk-report-reveals-who-really-uses-bitcoin/)

Analysing nearly 4,000 responses received in Coindesk's multilingual survey, likely the largest in bitcoin's history, the 45-page report provides an in-depth look at who is using bitcoin, who isn't and why that matters.

But more than that, this report attempts to identify ways in which the community that uses the cryptocurrency can expand its reach, moving beyond the current demographic to new groups, with different cultures, economic status and needs.

While these figures reinforce the young, white, male stereotype, other findings – such as average income – are more surprising. The question of average earnings providing a very even split across all earning brackets. Those earning $50,000–$100,000 came top, at 23.9%. One in five said their household income was below $25,000.

...This is pretty interesting. I'd expect more bitcoin users to have higher annual income. But if this survey spans the globe, perhaps I shouldn't be surprised.

Definitely not surprising. A large number of the Bitcoin users are in their teens or in early 20s. Most of them are either students, or working as freshers. So it is not surprising that the average salaries are quite low. And I've to add that $100,000 per year is huge salary outside the US and the EU. So almost all the Bitcoin users in Asia and the Latin America will come under this category.

The young ppl are usually technical fans and keen to learn and use bitcoin. From the long run, this group users will form a solid bitcoin supporters. Until they become old, whoever yong or old are all bitcoiners.

are you surprised of this, basically many are poor guys that are looking for quick buck, others have just earned that quick buck, it seems that the already rich people are not interested too much in bitcoin, it could also be a reason why we are stuck with the current price

i presume the remaining 30% are early adopters(miners and buyers)

Actually most people using it are not in their early 20's but early 30's

Between 25-34:
http://www.coindesk.com/new-coindesk-report-reveals-who-really-uses-bitcoin/

This also proves that guys between 25-34 earn less than 100.000$, which is funny because by this time you usually have many diplomas.

Maybe its not worth at all to do college, and just use bitcoin after you finish school!

This is pretty interesting. We all bitcoiners need this kind of data and analysis. It will surely help all the bitcoiners to grow their businesses and also will bring in new users. Bitcoins should get established as the full time business and not remain only as an extra income source which is now the case with most of the users.

 I resemble that remark

also one of the 6% I think I saw of BTC holders over 60 years old

so can't use young and stupid as an excuse if this all goes 'tulips' :)

Some old money hanging around, old folks need to think about retirement, because with all this austerity going on again, they are pretty upset about the fiat.

Cant say this is all that surprising, considering the median US household income is only 50k...and that is higher than most countries

the majority of the people don't even own a single bitcoin. so totally not surprised after reading the article. it's not that hard to figure out.

Seems like a pretty dumb & pointless stat/article - 70% of bitcoin users earn less than 100k USD a year.
I'm pretty sure if you walk into a normal bar & take a survey - 70% of people earn less than 100k USD a year.
Just seems like people who earn 100k USD a year are sort of in the minority any way if you took a national average.

Struggling to see why they've bothered running that story, most of the world is on less than 100k USD a year, that's a pretty decent salary  ;D
Coindesk - You are running a shit article here **leaves**

Seems pretty obvious. 100K a year is a lot of money and most bitcoiners are young men and most of them as proven here earn less then 100K a year,
No surprise though.

Yeah man, making general assumptions usually lead us to the wrong answers and (incorrectly) reinforce our belief in ourselves to be able to make "educated" guesses without any support or fact. It's a dangerous place to spend a lot of time in.

Perhaps what's more scary is that people with money to live, without tons of disposable income are willing to put some of it into something so risk and unproven as this project.

The title should be reversed. The real big news, if this is true, should be that 30% of BTC users are making more than $100K a year. I would never have guessed that. There are some wealthy folks among us.
Now, all this comes from a survey. Accuracy may not be great...

That still high for me, i can earn more than 150$ per month  :'( sometimes win and lose in gambling

I think you're right, that might be the real news on this one.

Have any of you read the article? It's a good, well rounded analysis by Coindesk...more than just average annual income.

The question is, how many of them got really wealthy as a result of Bitcoins? Imagine some early adopter, who had BTC10,000 with him. If he sells his coins on December 2013, when the exchange rates were 1BTC = $1,200, he will be left with $12 million. Even if he invests the entire amount in US treasury bonds, he will get an annual income of around $400,000.

The May 2013 article marks a serious adoption point as before that media coverage of Bitcoin was far more spoardatic in relation to the sheer volume of Bitcoin news we have now.
That said I'm not suprised of the composition of the core userbase male white/asian under 30 tech users, on the brightside women adoption is nearing 10% we need more high-end clothing and boutique stores to accept bitcoin to improve that user segment that said average wealth does look like it represents what you would expect of under 30 income earners in college and the workforce including a signifcant proportion of IT jobs of course.

I am not surprised at all by results of that research. It only strengthen my personal beliefs. After being on this forum for quite long time I can see that I haven't met more that 2 girls of thousands of users.
So it is easy to deduct that Crypto users are in 90% male, white and not so rich people how is that surprise to anyone really? Another detail is that IT sector of the market is dominated by people described by that research. We need to wait quite some time if we want this situation ever to change, mass adoption might help here.

what does being mostly male have to do with being poor?You're not making any sense,hazir.

actually you can't get that from the title, because it's clear that there are also those that are making 100k and those that prefer to say nothing about it

you haven't followed the article i guess, because in the image, you can clearly see that only 22% are making more than 100k, the other 11% said nothing, so it can be that they belong to the first category of the poor people...

That was not the title of the article, but this forum thread.....

100000$ is a very huge amount for a lot of people, especially for people from third world countries. Even people from India who are doing really well are unable to score such a salary, maybe really rich industrialists and actors and others are able to manage that salary, like big doctors... Its no big deal as the community is full of young bloods.

According to the reports, In the US anyone who earns $50,000 without a university degree is indeed a decent salary, and Freshers who are holding Engineering degree certificate are earning $55,000 to $60,000 as their starting salary, having said that even in the United States of America $100,000 per year considered as a pretty good income.

well were not all rich..

If you make 100k a year that means youre hold a position that most people wont have, and youre there based on your skills.

The comment above about someone walking away with 12 mill seems very possible, but what about taxes? lol.

one with a salary like that don't care too much about taxes, his money can cover anything and be healthy for decades

all those rich money don't even care about bitcoin i presume, they have already what they need, unless they are playing the game "i want to be the richer of the world" then it should be pointless for them to earn more money

In the US at least, according to the Census Bureau less than 10% of US individuals  (http://www.census.gov/hhes/www/cpstables/032014/perinc/pinc01_000.htm) make 100K USD per year or more. 

So I think the article's main point is that compared to most, bitcoin users are relatively well off financially.  I imagine this would be true in other countries as well, even though the absolute amount of income would not be the same.

100,000$ is a substantially huge amount for a lot of people. Earning it per year could mean a fortune for people in third world countries, even a lot of people in U.S cannot afford that kind of money every year. Most of the people who use bitcoin are young people or people really sharp with tech skills. Not everybody is a well settled man earning well. Some people are just young, unemployed and still, future millionaires.

Yes, it indeed is a huge amount in the U.S too. Making money isn't so easy and having a source which gives you 100k$ a year is HUGE. Most of the bitcoin users are young and also, are monetarily decent earners. I would agree that not everybody here is rich but not everybody here is poor either. There are a lot og geniuses in this community and potential millionaires too.

It is certainly a huge amount to earn annually, but all of this information is somehow irrelevant to me. Why does it matter how much a particular person earns right now? Most of the young bloods are dealing with bitcoin and expecting them to be such financially well off is funny. I don't think half of U.S citizens earn over 100k$ either.

Well, I don't know about the potential millionaire part. Some people think it is just as easy as to buy shit load of btc and wait for years and years and boom you are a millionaire. No, those days are long gone my friend. That shit used to happen in 2009 when bitcoins were alien to people, now its much  more than an investment which makes a person a millionaire. it takes skills, knowledge and LUCK.

100k USD annually is 8.3k USD per month. you are mentioning third world countries here, but 100k USD per month is not even average in any country in the world.

just check: http://stats.oecd.org//Index.aspx?QueryId=64115

I dunno what coindesk want to say by tittle..maybe that bitcoin users are quite rich.

Not surprised about the white male stereotype along with the long incomes. There are tons of frustrated guys out there with their shitty wages knowing they are facing a dead end. They are probably trying to amass a decent amount of Bitcoin now that's still possible and hope for the best ideally retiring in the next decade or so. Sounds like a better plan than working endlessly for hyperinflating fiat money.

$100,000 annually is a lot of income! BitCoin is relatively new and most of it's users are young people who're just trying to learn more about it. They are more curious to know about the BitCoin than to use it as a source of income at the moment.

87% of the population earn less than 100,000 annually

so wouldn't that 70% number tell us that more weathier people are utilizing bitcoin

for sure, just because bitcoin is these days used as an investment (or technological experiment) and only somebody with enough spare money can seriously invest to something so risky and unstable like bitcoin and feel somehow comfortable..

To be able to do that right now when bitcoin price is over $200 someone need to spend quite a sum to obtain significant number of bitcoins for his retirement fund.
Volatile nature of bitcoin is not helping either. We can't be sure if in the future bitcoin won't be 'regulated to death'. And all bitcoin investments and retirement plans could go horribly wrong.

it tell us also why bitcoin adoption isn't so vastly widespread, because only rich individuals are investing/buying it, common people are not interested in losing their few pennies if all this thing go wrong, the latter are awaiting for the second chance of low price, but their hopes are too far-fetched

No, I think very few less people have their money invested in bitcoin. Yes, there are plenty rich people in the bitcoin community but much more are people from middle class families who are either tech friendly people who know their way around the web.. the others are a couple investors and others are just bitcoin enthusiasts. The happiest individuals.

yeah man I found out about bitcoin to all those people who beloned to really financially moderate family and they were neither too rich or too poor. They struggled with their lives but made smart decisions in life. Bitcoin has played a huge part in their life and now they are doing really well, ensuring me a completely strong belief in bitcoin and how it can change lives :)

I want you to help to to know more about asic and how to mine and get bitcoins please

yeah man I found out about bitcoin to all those people who belonged to really financially moderate family and they were neither too rich or too poor. They struggled with their lives but made smart decisions in life. Bitcoin has played a huge part in their life and now they are doing really well, ensuring me a completely strong belief in bitcoin and how it can change lives :)

wrong thread post in the mining section, someone will help you, or shoot me a pm i can help on mining

here https://bitcointalk.org/index.php?board=40.0

Bitcoin certainly has the perfect components required to make and break a life. It has performed both in some cases, I read haha. I have only benefited from bitcoin. I invested soon and had my capital multiplied but lost it during the price deflation. I still have them with me and hope it rises again. I am very hopeful and positive about the future. Go bitcoin or go home ;)

It is obvious, i am making a research right now and it really seems like bitcoin people earn little wages, no wonder why bitcoin is so attractive, it can help you earn more :)