99% of the people still think that fiat money are better than crypto

[vv181]

Majority of the people are not yet knowledgeable in internet or in any online activities so bitcoin and other cryptocurrencies are still unknown to them. These people would rather choose fiat because they don't need to go online to make a transaction. There is a need to educate more people to bring up internet literacy to a higher standard before they can be able to use the cryptocurrency.

I don't think mainstream also properly understand how money works especially the fiat. Meanwhile, if they truly well-understood how the money system is work. I'm pretty sure they will choose the decentralized currency instead of centralized currency. I believe it because the dogma that government give us since we little child and also that being part of the education system.

[ASICHEAD]

Damn,now i think that he is right and fiat money are still way more convenient ,despite all the inflation,banks monopoly and control.From my personal experiense 99% of the people refuse to believe in bitcoin and refuse to adopt it in their daily life.Any opinions?

I really doubt whether more than 10% of the world population has heard about Bitcoins. And out of that around one-tenth are users of Bitcoin, which means that those who are supporting Bitcoin over crypto may be much more than the 1% which you are claiming.

The total population of the world is nearly 8 billion people, 1% of the world population knows and using cryptocurrency meaning 1% of 8 billion = 80 million people have been using cryptocurrency. In my opinion, I think that number is not much, because the total trading volume of cryptocurrency market took higher than 60 billion dollars / day. I think 2-3% is still reasonable.

[bhabygrim]

Well I think it isn't really 99% but rather about 60-75% I think .
Just look at how much bitcoin have grown in the past few years it is a proof that there are lots of people who are getting into crypto.

[Taki]

Well I think it isn't really 99% but rather about 60-75% I think .
Just look at how much bitcoin have grown in the past few years it is a proof that there are lots of people who are getting into crypto.

The present of people who think that fiat is better and more sure is actually big, so I disagree with you. By recent calculation only 5% of people use crypto currencies and I think the half of those people think that fiat is more sure anyway, that's why they trade cryptos and collecting the fiat difference. For the most of people crypto currencies are just to earn some money on price differences and they actually earn fiat and spend fiat, but not cryptos, the last one is only an instrument in their hands for money making.

[RAMSHIVDEEPAK]

Trust is the main, because of this more people believe in Fiat currency and trust is developed by back-up . Fiat currency has been supported by the government,so it has more trust then Bitcoin.
But if u think about the technology then Fiat currencies that has nothing,but Bitcoin has more technology and more advanced features then Fiat currency.

[akes2090]

I am actually doing a study on cryptoeconomics and social factors that influence its rate of adoption, but to cut the long story short, here are the major reasons why majority of people still and will prefer fiat:

1. It is highly volatile: imagine investing $10,000 in BTC one day then it slumps to $4,000. Very few people can understand the economics and mathematics behind it - so they prefer to stick to what they have and know.
2. It is virtual: believe it or not, a substantial percentage of people up to this day, steer away from cellphone and internet banking as an imminent fear of being susceptible to hacking and the likes. So crypto you can imagine - is surely lagging way behind.
3. Limited usability: how many places (shops, restaurants etc..) can you go to within your immediate vicinity and expect to get a cappuccino and biscotti for 0.002 BTC ? Then again - will the owner (and you) have an hour to wait for 2-3 confirmations from the network so that the bill is settled?
4. It is ridiculously expensive: Take a 3rd world country for example and a "modest" price of $10k per BTC - how many people can afford to invest in something so volatile. In most cases 1 BTC exceeds the legal minimum remuneration of an individual...for an entire year!
5. Practicality and application: you need a software (or even worse - hardware) wallet, then go through all forms of KYC and AML crap to get the coins/tokens. With fiat - you carry it in your pocket.
6. Notoriety: ask anyone who has heard of Bitcoin but doesn't know it well enough and they will 80% of the time either tell you it is/describe it as - a Ponzi scheme.
7. Complex technology: its difficult to even describe in layman's terms the jist of cryptography, let alone the ecosystem of tools, wallets, blockchains, nodes etc that rely on the fore-mentioned.

This is the status quo - it won't change over-night and my educated guess is that the architecture and supply-demand driven volatility of Bitcoin will always, in some way or the other impede the widespread adoption of cryptos. People will look for another "saviour"...what it will be - only time can tell.

[Arngrim]

Up until now it is still the same.
Talked with a group of people and all they see is fiat money. If it aint physically felt then it is not true.
That kind of idea is stucked in their head.
It will be hard to come through this people with just explanations. They will need to experience the benefit of it to make a spark.
I managed to convince like 2 of them and yet they will say they wont risk it.
That is okay for me though. I just want to share.

[jinxing]

Those who consider anonymous criptoccurency. those who science is still low and not know bitcoin. If they already know for sure they do not want to take it off. Nowadays, yes, 99% of people are more dependent on fiat money because it is easy and not difficult to use. While digital money we must exchange with fiat money first, because digital money is not a valid exchange tool. Not to be used for day-to-day transactions. Digital chances only for transactions between commodities only. That is in my country.

[Coral27]

Well I think it isn't really 99% but rather about 60-75% I think .
Just look at how much bitcoin have grown in the past few years it is a proof that there are lots of people who are getting into crypto.

No! the percentage is not so high even though the price of bitcoin is a little low and some people are not trusting bitcoin but still in my place now people consider bitcoin much better than fiat and it is just because price is low but the benefits are the same so it will again rise and it can be use as a payment of many things, in a lot of schooling systems bitcoin is being use and it will be more than this so crypto currency is the first priority of people in my country.

[Tungsten-1]

Well I think it isn't really 99% but rather about 60-75% I think .
Just look at how much bitcoin have grown in the past few years it is a proof that there are lots of people who are getting into crypto.

People are coming towards bitcoin. This process is slow but it gradually increasing the percentage that are oriented towards bitocin. As you have said, it is about 20-25% population that think about bitcoins. Still a huge population must be targeted to enhance the life portion of bitocin by promoting bitocin so that they would also be convinced with how amazingly these coins had made impact.

[pitiflin]

Maybe yes. But people who are techies and the like who like to do everything at their computer use cryptocurrencies for their stuff. Watch Mr. Robot for example. Crypto is good, fiat is better somewhat. But crypto has been there only for a while, innovation will bring change and remember NEW IS ALWAYS BETTER.

[Whitly]

I agreed with your friend, cryptocurrency not really anonymously, since most of exchangers now days trying to personalized their users by asking them to provide personal information. But about 99%, I'm not sure since cryptocurrency still better, than fiat money, I think around 60% and tho 60% just don't know, what is cryptocurrency is it.

[w5pn73]

I agreed with your friend, cryptocurrency not really anonymously, since most of exchangers now days trying to personalized their users by asking them to provide personal information. But about 99%, I'm not sure since cryptocurrency still better, than fiat money, I think around 60% and tho 60% just don't know, what is cryptocurrency is it.

If 99% of people aren't really familiar with bitcoin or crypto then how could the outcome be otherwise.

[ainunfm]

i think people just need some time to understand about cryptocurrencies
is just like people just scare to something that they dont know after all, in any country in asian who still in devalopment, their common people mindset is if working is must sweating, and a people doing work like freelance or trader is still minority to them and they are upset with kind of work like that

[Jaemouns]

I was talking with a friend of mine about cryptocurrencies and he said:
"Cryptocurrencies are anonymous?Nothing on the internet is anonymous.Having a bunch of dollars or euro in the pocket is the most anonymous way to store money. "
Damn,now i think that he is right and fiat money are still way more convenient ,despite all the inflation,banks monopoly and control.From my personal experiense 99% of the people refuse to believe in bitcoin and refuse to adopt it in their daily life.Any opinions?

For me the think that fiat is more valuable because this is common especially for the people that they dont know about bitxoin.But for us that already know a about bitcoin I would say that it is better than others

[yesuidanggan]

Because many people in the world still do not know the existence of encrypted money! Or they think that crypto money is just a means of investment, invisible, and they don't like this digital encrypted currency!

I like to encrypt money because it's the best way to get rid of inflation and protect your property

[BabyBoss]

Well in my own opinion as pf today yes people may valued fiat more crypto or btc because first of all bitcoin needs to become fiat in order to spend in real. So, if bitcoin is already use for paying our needs and become our fiat well I think people will be more interested in using bitcoin people are more value bitcoin. So, for now we can't blame them that they want more foat than bitcoin.

[ArnoldChippy]

Well I think it isn't really 99% but rather about 60-75% I think .
Just look at how much bitcoin have grown in the past few years it is a proof that there are lots of people who are getting into crypto.

People are coming towards bitcoin. This process is slow but it gradually increasing the percentage that are oriented towards bitocin. As you have said, it is about 20-25% population that think about bitcoins. Still a huge population must be targeted to enhance the life portion of bitocin by promoting bitocin so that they would also be convinced with how amazingly these coins had made impact.

Actually most of the people of the world still do not know about bitcoin, therefore they consider fiat still more better than crypto currency. In future when they will come to know about bitcoin then they will realize the importance of bitcoin and will start using bitcoin for trading and even for shopping online and in their local shops if they have the facilities of using bitcoin there.

[ryan.fortytwo]

Mot people still favor fiat because they don't know much about BTC and no one has made an effort to tech them either. some just don't have the resources to know about BTC and therefore prefer fiat

[igorc]

I was talking with a friend of mine about cryptocurrencies and he said:
"Cryptocurrencies are anonymous?Nothing on the internet is anonymous.Having a bunch of dollars or euro in the pocket is the most anonymous way to store money. "
Damn,now i think that he is right and fiat money are still way more convenient ,despite all the inflation,banks monopoly and control.From my personal experiense 99% of the people refuse to believe in bitcoin and refuse to adopt it in their daily life.Any opinions?

Cash is anonymous in the way that surely you can't track your purchases made by cash, and as far as I know 85% of people transactions are still in cash. But crypto and electronic money have other great advantages. We initiated a project to make a link between fiat and crypto - cash money Golden Currency on blockchain, in which we want to make easy any exchange from fiat to crypto, but at the same it is possible to hold money in reliable cash Golden, which is 100% backed by gold.