Nearly 70% of Bitcoin users earn less than $100,000 annually - Coindesk

[Harry Hood]

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.

[bryant.coleman]

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.

[lihuajkl]

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.

[Amph]

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)

[RealBitcoin]

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.

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!

[JarvisTechnology]

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.

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.

[Searing]

 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'

[RealBitcoin]

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.

[MF Doom]

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

[randy8777]

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.

[LFC_Bitcoin]

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  
Coindesk - You are running a shit article here **leaves**

[AccountTrader]

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.

[Possum577]

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.

[countryfree]

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...

[Btree]

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.

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

[Harry Hood]

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...

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.

[bryant.coleman]

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.

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.

[EternalWingsofGod]

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.

[Hazir]

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.

[futureofbitcoin]

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