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Author Topic: What makes a country ripe for Bitcoin adoption? Death, research, money.  (Read 2993 times)
Kluge (OP)
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August 23, 2013, 11:07:48 AM
Last edit: August 24, 2013, 03:13:40 AM by Kluge
 #1

The higher the GDP per capita, % of researchers in population, and mortality rate are, the more likely a country's citizens are to be interested in BTC.

Here is the Google Trends map ("Bitcoin" - darker = more searches per person):


[2005] Here is GDP PPP per capita:


[2008] Mortality rate:


[Huh?] #Researchers/million (still some big outliers, like Japan - but that could be from bad GTrends data):



Google Trends is a crap starting point to try gauging interest by country, but I'm not aware of a better data set. Incidentally, I was surprised to learn Serbians and Russians smoke more regularly than drink water.  Cheesy

Other points of interest: there doesn't appear to be a strong correlation between Internet connectivity and Bitcoin interest. There may be a strong correlation between average age of first sexual intercourse and BTC interest (or it's just Scandinavia biasing). While GDP PPP matches up fairly well, income disparity isn't a factor.


(on a serious note, if someone has actually found indicators, I'm eager to see them!)
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August 23, 2013, 11:36:40 AM
 #2

Inflation rate.

I think that is the critical factor. Argentina has an inflation rate of between 20% and 40% per annum. Economists get prosecuted if they try to report a correct figure. When people lose trust in their national currency and velocity is increasing then Bitcoin usage will climb fast. There has not been a full-blown hyperinflation while a viable cryptocurrency exists. Bitcoin needs more development and no fiat is on its deathbed yet. But the time is approaching when both events come together.

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August 23, 2013, 04:08:54 PM
 #3

The US was an early adopter so no need to explain them. For the rest of the world it seems two things are important:

1. Tech savvy population

2. Open to ideas from foreign countries.

Japan has 1 but not 2. Maybe the south koreans are similarly insular?
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August 24, 2013, 05:13:14 AM
 #4

SPSS data but not sure where we find the data for who is interested in bitcoin

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