[2017-06-27] Surveys Suggest Bitcoin Still Has Enormous Growth Potential

[elenabaltadzi]

A recent survey conducted by HSBC polling 13 developed nations indicates that the majority of citizens still have not heard of blockchain technology, with only 41% of respondents indicating familiarity with the technology underpinning bitcoin.

HSBC’s Report Adds to a Growing List of Surveys That Indicate Bitcoin and Blockchain Technology Is Still in Its Early Years of Development

A recent survey conducted by HSBC showed that 59% of consumers had not heard of blockchain technology. Of the 41% of respondents who were familiar with the technology underpinning bitcoin, 80% stated that they did not understand how blockchain technology operates.

The survey polled 2,000 HSBC customers from the United Kingdom, in addition to 1,000 participants from Canada, China, France, Germany, Hong Kong, India, Mexico, Singapore, the United Arab Emirates and the United States respectively.

HSBC’s report adds to a growing list of surveys that indicate bitcoin and blockchain technology is still in its early years of development, with early-majority adoption still yet to be seen.

A survey conducted by Cambridge University this year determined the current number of unique active users of cryptocurrency wallets is estimated to be between 2.9 and 5.8 million. Despite representing just 0.04 – 0.05% of the global population, this data indicates that the bitcoin userbase has at least doubled in just two years. With such a tiny percentage of citizens actively engaged in the bitcoin community, 40% of citizens being aware of blockchain technology evidences the enormous growth potential of cryptocurrency.

https://news.bitcoin.com/hsbc-survey-suggests-bitcoin-still-has-enormous-growth-potential/

[1Referee]

I seriously believe that what we have been experiencing so far in terms of growth, it's nothing more than peanuts. Just wait for the day where people will start to convert a serious part of their savings into Bitcoin, to keep it outside the reach of banks and governments. Point however is that a large number of people still don't understand anything of how Bitcoin works, and how it can help them achieve a good level of financial freedom. People focus too much on Bitcoin as investment asset, and that needs to change. Everything takes time...

[eckmar]

Well nothing new here, there has been a talk about that for quite some time now. What most miner (including me) are doing at the moment is putting aside about 10-20% of monthly earning into savings wallet because they believe price will go up in a future (some don't even sell btc now ofc... just talking about majority here)

[veleten]

I seriously believe that what we have been experiencing so far in terms of growth, it's nothing more than peanuts. Just wait for the day where people will start to convert a serious part of their savings into Bitcoin, to keep it outside the reach of banks and governments. Point however is that a large number of people still don't understand anything of how Bitcoin works, and how it can help them achieve a good level of financial freedom. People focus too much on Bitcoin as investment asset, and that needs to change. Everything takes time...

I agree with 1referee 100% here-the current usage of bitcoins does no justice to its potential at all!
majority sees it as a volatile asset with growing price to bring "money" and increase value
things will change when bitcoin started to be used as "money" in every aspect:payments,savings,trading etc.
not only bitcoin has enormous growth potential,it is like automobiles and horse carts,they latter are few and far in between,but their dominance is inevitable simply due to a more advanced technological nature