20% of British residents own #cryptocurrency

[vit05]

A study of 2,000 people by lending platform Lendingblock revealed that most think cryptocurrency is here to stay, with 55% expecting shops and buses to accept it in seven years’ time. Just over 20% of respondents said they either own or have owned cryptocurrency.

One-fifth of respondents said they were certain cryptocurrency is a good investment, and 56% said they might be tempted to obtain some in the future. One-third (32%) of people said better security would make them more likely to buy cryptocurrencies.

As the popularity and value of cryptocurrencies have increased, so has cyber crime activity aimed at cashing in on this trend, mainly in the form cryptocurrency mining malware. According to a report from NTT Security, about 12,000 monero mining malware samples dating back to March 2015 have been identified by researchers at the company’s Global Threat Intelligence Center (GTIC).

In the Lendingblock study, 28% of respondents said they would be more tempted by cryptocurrency if there were better apps for buying and selling it, and 23% said government backing would encourage then to invest. Only 10% said they would never buy cryptocurrencies in any circumstances.

“In spite of much-discussed uncertainty about cryptocurrency, the public is sure that it is here to stay,” said Lendingblock CEO Steve Swain. “Cryptocurrency is a maturing market, and this is exactly what we would expect to see happening at this time as we move from early adopters to more mainstream awareness and use.”

Swain welcomed the recent government announcement of an inquiry into cryptocurrency. “Before we get there, cryptocurrency needs to be made safe, and that is why we welcome the UK government’s recently announced inquiry into investments,” he said.

In February, parliament’s Treasury committee said it was looking at the opportunities and risks associated with digital currency and how technologies such as blockchain would affect the finance sector.

The inquiry will assess how the government and financial services regulators such as the Financial Conduct Authority (FCA) and the Bank of England can create an environment to protect consumers without holding back innovation.

Meanwhile, Bank of England governor Mark Carney wants cryptocurrencies such as bitcoin to be brought into line with the regulated financial markets.

Bitcoin is the best known digital currency, but there are thousands of them. A study of the cryptocurrency market from 2013 to May 2017 carried out by City, University of London and published in the Royal Society’s Open Science Journal treated cryptocurrencies as an ecological species. It looked at 1,500 cryptocurrencies and found that none of them has shown a strong selective advantage over the others and that they all face an uncertain fate.

http://www.computerweekly.com/news/252436784/Most-people-think-cryptocurrency-will-be-accepted-on-buses-by-2025

[VirusTeam]

A study of 2,000 people by lending platform Lendingblock revealed that most think cryptocurrency is here to stay, with 55% expecting shops and buses to accept it in seven years’ time. Just over 20% of respondents said they either own or have owned cryptocurrency.

One-fifth of respondents said they were certain cryptocurrency is a good investment, and 56% said they might be tempted to obtain some in the future. One-third (32%) of people said better security would make them more likely to buy cryptocurrencies.

As the popularity and value of cryptocurrencies have increased, so has cyber crime activity aimed at cashing in on this trend, mainly in the form cryptocurrency mining malware. According to a report from NTT Security, about 12,000 monero mining malware samples dating back to March 2015 have been identified by researchers at the company’s Global Threat Intelligence Center (GTIC).

In the Lendingblock study, 28% of respondents said they would be more tempted by cryptocurrency if there were better apps for buying and selling it, and 23% said government backing would encourage then to invest. Only 10% said they would never buy cryptocurrencies in any circumstances.

“In spite of much-discussed uncertainty about cryptocurrency, the public is sure that it is here to stay,” said Lendingblock CEO Steve Swain. “Cryptocurrency is a maturing market, and this is exactly what we would expect to see happening at this time as we move from early adopters to more mainstream awareness and use.”

Swain welcomed the recent government announcement of an inquiry into cryptocurrency. “Before we get there, cryptocurrency needs to be made safe, and that is why we welcome the UK government’s recently announced inquiry into investments,” he said.

In February, parliament’s Treasury committee said it was looking at the opportunities and risks associated with digital currency and how technologies such as blockchain would affect the finance sector.

The inquiry will assess how the government and financial services regulators such as the Financial Conduct Authority (FCA) and the Bank of England can create an environment to protect consumers without holding back innovation.

Meanwhile, Bank of England governor Mark Carney wants cryptocurrencies such as bitcoin to be brought into line with the regulated financial markets.

Bitcoin is the best known digital currency, but there are thousands of them. A study of the cryptocurrency market from 2013 to May 2017 carried out by City, University of London and published in the Royal Society’s Open Science Journal treated cryptocurrencies as an ecological species. It looked at 1,500 cryptocurrencies and found that none of them has shown a strong selective advantage over the others and that they all face an uncertain fate.

http://www.computerweekly.com/news/252436784/Most-people-think-cryptocurrency-will-be-accepted-on-buses-by-2025

how many people have so many opinions and one and the right one is not) let's see how everything goes on)))

[randythered]

Anywhere to see what sample the selected their 2000 people from? I wouldn't be surprised to see it be people on the streets of London where the figure is going to be much higher. Many people in rural parts of the country will not have any idea what cryptocurrency is. I can name on one hand the people I know invested in to cryptocurency which makes it a lot less than 20% and for that reason I'm a little skeptical.

[BrewMaster]

i never liked the results of these types of surveys. they take a bunch of people and ask them some questions then release percentages. you look at them and unless you consider all the facts about these people you can not value the results.

for example i bet 90% of this group only invested in cryptocurrencies because they have heard you could make a lot of money from them and they only started last year which was the bull run. opinion of such people saying crypto is here to stay is not trusted because the same people are going to say crypto is dead if you ask them the same question today!

[CryptoBry]

We can argue on the results of this study/survey and even the way they were made but one that is out of the question is the fact that there is a growing awareness and participation of the people for cryptocurrency. This is just a gauge of what can be in the coming months and years. Cryptocurrency will get more popular despite some concerns, fears and setbacks that recently happened.

[stompix]

If you're going to say that 10 million Brits own crypto and not burst into laugh then you need to go have a check.
Something must be wrong with the genesis block of your body

There was also news about 30% Koreans and half of Japan owning cryptos.
Too bad that if we sum it up we will end up with more people owning coins that all the addresses in all the chains.

i never liked the results of these types of surveys. they take a bunch of people and ask them some questions then release percentages. you look at them and unless you consider all the facts about these people you can not value the results.

The whole article reeks of a PR stunt.
They did their survey on their platform that deals with crypto...
Lendingblock is a securities lending platform for the cryptoeconom

It's like going to a church and ask how many people believe in God.

[Sowik]

Hard to believe this, have they only taken the survey with people who have used their platform? I doubt that even one third of Britain know what crypto is.

[randythered]

The whole article reeks of a PR stunt.
They did their survey on their platform that deals with crypto...
Lendingblock is a securities lending platform for the cryptoeconom

It's like going to a church and ask how many people believe in God.

Now that explains it, you can see from my past message I had my doubts about the 2000 sample that they used. You've got to think that someone within their company must have the mental capacity to understand what a good sample would be? Perhaps it was their intention to have a biased sample.

[solarion]

Hard to believe this, have they only taken the survey with people who have used their platform? I doubt that even one third of Britain know what crypto is.

In 2015 itself there are many people invested in buying bitcoin, litecoin and dash at that time. Many survey related thread has been opened that in the forum. I see many european mined the bitcoin at the initial time and holded those coins in the one place still.
So that is reason market capital will not completely brake whatever happen on bitcoin.

I have work experience in Europe and many of the people knows about bitcoin and holding with investing on their part of the salary.

[jmlona]

I went outside earlier and asked the first 5 people I saw if they live within 10 miles of where we were, they all said yes and from that I can deduce that 100% of people in the world live within a 10 mile radius of my house. It's getting awfully crowded here guys  

[bubu4845]

thats a good news about bitcoin, news like this will make price bitcoin will go up and i hope a lot people will invest in bitcoin and altcoin more and more.

[dado7]

Usually, I am very skeptical about surveys. For example - the sample used in this one is very little (2000) considering that the population of G.B. is around 61 million. Also, they probably mostly interviewed people who are technology savvy.

In the Lendingblock study, 28% of respondents said they would be more tempted by cryptocurrency if there were better apps for buying and selling it, and 23% said government backing would encourage then to invest. Only 10% said they would never buy cryptocurrencies in any circumstances.

However, this part is what I find the most interesting and which confirms my thoughts. Better regulation and better usability will inevitably lead to more investments. So much about regulatory FUD......

[odolvlobo]

The whole article reeks of a PR stunt.
They did their survey on their platform that deals with crypto...
Lendingblock is a securities lending platform for the cryptoeconom

It's like going to a church and ask how many people believe in God.

Yes, and yet only 20% of those own cryptos.

[patrickreiner]

The number of people that own crypto is still small compared to what it will be in a few years time. We are still early in the adoption phase, just wait until we hit mainstream! The next few years will be a magical time for crypto.

[darkangel11]

Such research is usually done on a small group of people that's why it's meaningless. Let's say you take 100 people from a technical college and ask them if they think it's a good investment, then go to a nearby park and ask 100 older people sitting on the benches, then compare the results. I can already tell you that in the first group at least 20% will be crypto friendly and in the second maybe 2% if you're lucky.

[yoseph]

The number of people that own crypto is still small compared to what it will be in a few years time. We are still early in the adoption phase, just wait until we hit mainstream! The next few years will be a magical time for crypto.

Oh yeah if 20% of them own cryptos at such a time, I am sure that as time goes on and Bitcoins becomes more stable and less volatile, a lot of people are going to join the bandwagon and during that time they are going to stay and not panic sell at all times.

[zentdex]

I agree with you about that, coinbase have even stated that a huge chunk of it's customers are from European countries. What more make users from those country enjoy is the more faster conversion of their fiat to crypto. The latest coinbase alliance with a european bank make it possible to widthraw cash from the bank account and use it to bu bitcoins. Additionally, I have seen famous crypto trading tutorial that are dedicated to european countries compare to asian countries.

[Lmaooo]

Started thinking maybe by 2020, the number of British residents that own cryptocurrency will be over 75%. It seems there is a massive adoption of cryptocurrency by the British citizens. 25% cryptocurrency users in 2018, the number will definitely reach 75% by 2020 because of the ripple effect to be made by the current 25% of the British cryptocurrency owners.

[Eros1on]

Britons have a vision of investment, with 20 per cent choosing to invest in crypto currencies. Less than 5 percent of people in China may choose to buy encrypted currency.

[Crypdon]

It would be great to see it adopted in Britain as they are very influential in financial markets. If adopted in London then the rest of the world will follow, more crypto companies are establishing themselves in the UK such as farmatrust which is a well respected ICO. This will change the sentiment towards crypto for widespread adoption.