Why only 6.2 percent of American citizens own Bitcoin?

[Johnii]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

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[rdluffy]

It's simple, and there are some reasons, but I'll make short

BTC is not so easy to pay to use like a credit card for example, it require a few steps, but not so easy for people who are't into technology
BTC is in the hands of the most rich in US, people with high amounts of money and coins, it's not for the poor

[The Sceptical Chymist]

Hey, 6.2% is not bad at all IMO.  That means there's lots of room for growth.

I've always thought that the reason most Americans (and most people in general) don't own bitcoin is because they don't see a real need for a replacement for fiat.  The USD is a very stable currency, inflation concerns aside, and American citizens don't feel the need to go way out of their way to buy another currency with their USD simply for the sake of spending it.  That's mainly why bitcoin doesn't get used as a currency.

Second, if someone in the US is looking to invest their money in something, it's usually stocks and more specifically 401(k) retirement plans, and if it isn't that it'll either be individual stocks or mutual funds.  Bitcoin is ten years old, but it's still a fairly new form of investment--and an extremely risky one at that.  An investor who doesn't have a big appetite for risk isn't going to be attracted to crypto at all, and there are a LOT of people who don't like taking big risks with their money.

I'm actually surprised that even 6.2% of Americans own bitcoin, if that number can be trusted.  It might sound low, but it's higher than I thought it would be.

[figmentofmyass]

another study claimed that 14.4% of americans own cryptocurrency: https://bitcointalk.org/index.php?topic=5196823.0

6.2% sounds a lot more reasonable to me, though it might still be exaggerated. that's over 20 million people!

Hey, 6.2% is not bad at all IMO.  That means there's lots of room for growth.

yes sir! the lower the number, the earlier we are in terms of being "early adopters". not a bad problem to have if you ask me.

Second, if someone in the US is looking to invest their money in something, it's usually stocks and more specifically 401(k) retirement plans, and if it isn't that it'll either be individual stocks or mutual funds.

if an ETF or other bitcoin security makes it possible to invest through 401(k) plans, things are gonna get interesting.

[hello_good_sir]

Not a lot of people have enough money to be able to throw around in investments, for an advanced economy, it's actually surprising how many people lack any real savings and live paycheck to paycheck.

If you are living paycheck to paycheck, which looks like is around 78% of all US workers - it basically handicaps your financial options and it'll be impossible for you to produce actual savings.

I can guarantee that all of the 6.2% is from a wealthy background and are able to throw money like that around.

[milani]

It's simple, and there are some reasons, but I'll make short

BTC is not so easy to pay to use like a credit card for example, it require a few steps, but not so easy for people who are't into technology
BTC is in the hands of the most rich in US, people with high amounts of money and coins, it's not for the poor

 I am agree with words about credit cards. Too many people can't use crypto in everyday life because transactions and lots of nuances are difficult for their understanding. Lots of people would prefer to use ordinary credit card that do not need some manipulations yhat crypto still needs. But in case the government would decide to implement crypto into payment systems all over the country, it would not be a great problem i think...The other reason that this country has rich and poor clans like lots of other countries have, and rich people prefer to concentrate the crypto assets in their hands rather then allow to become masses rich))))) may be that's why this country is so strict as for to crypto?...

[LeGaulois]

It's simple, and there are some reasons, but I'll make short

BTC is not so easy to pay to use like a credit card for example, it require a few steps, but not so easy for people who are't into technology
BTC is in the hands of the most rich in US, people with high amounts of money and coins, it's not for the poor

It's not a problem. The majority of people use cryptocurrencies either as a speculative asset or a store of value.

The title says "ONLY", but this is subjective. See what I mean, in the US there are over 300 million citizens, 6%=20 million. Not bad I would say, it's even surprising consider all the low information voters there are there.

One interesting fact that popped from the study was that more women were entering into the cryptocurrency realm.

[rodel caling]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

I am not an American citizen, I think people in america isn't so much interested in the new bitcoin as new form of money because they didn't understand well how bitcoin works in the new technology as future currency worldwide people of america focus what they now nit lookingbfor the future of the new era of technology, that's is only my own opinion.

[anon241469]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

 - The community is relying on Americans for mass adoption? Says who? I think many people don't realize that they could very easily pull the rug out from under America and effectively remove her from a position of dominance, simply by using Bitcoin. America is not that big... if Europe and China decide to use Bitcoin for international settlement and trade, instead of US dollars, then America is fucked!!!

[Harlot]

It may look small but 6.2%  is around 20.2 million US citizens using cryptocurrencies, trading it, or even mining it. That kind of number is something to be comfortable as a crypto enthusiast because really we are in the millions in the country of USA alone what more if we count the total users/hodlers of BTC around the world? I'm sure that will be more than double especially we have crypto friendly countries like Japan and Korea leading the way. That 20.2 million US citizens can also be considered as demand and I don't think big companies will deny the opportunity to take advantage of it, we've seen companies like Steam previously take advantage of it in the early phase and I don't think it will stop there.

[pixie85]

My first answer would be because all of us can't be rich. When Apple or Microsoft were entering the market only a very small number of people were buying their shares. There's always a degree of uncertainty when dealing with new things.

You're reluctant to try out new food or go to a foreign country and you're naturally reluctant to put money into new things even when deep down you feel they could become big.

[LTU_btc]

So, you want to say that over 20 millions people is small number? Uh, don't know... It depends how you see glass of water - it's half empty or half full...
It's difficult to analyse this survey, because this number is hanging alone in the air. It would be interesting to compare it with other countries, how much % of their population own Bitcoin.
And all these surveys don't allways reflect real situation, there many factors why, but  I'm lazy to go deep into details about it. If surveys would be 100% correct, Hillary would be US president and UK would had voted to stay...

[Velkro]

It's simple, and there are some reasons, but I'll make short

BTC is not so easy to pay to use like a credit card for example, it require a few steps, but not so easy for people who are't into technology
BTC is in the hands of the most rich in US, people with high amounts of money and coins, it's not for the poor

To topic author, don't write whole post content in bigger font/color. Its against common good behaviour on forums.
About topic itself, i agree BTC is in early stage and demand some knowledge still to be able to maintain it and use it properly. It will get easier in time, and it will be less viable to invest then, but will be more viable to use it on daily basis.
We are still early adopters.

[zalixo]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

This is as a result of cryptocurrency regulations in the US, it restricts citizens from participants in cryptocurrency related projects, before you can participate in a permit

[btc_angela]

At least it has grow as compare to this survey, US Gallup Poll Shows Only 2% of American Investors Own Bitcoin, which was done in 2018.

So Americans are slowly getting into the picture, and perhaps because the price is bitcoin is way below it's all-time-high, majority is still keen on putting their money on the market as of now.

[passwordnow]

It's not unreasonable, it's reasonable to be honest. And it's an amazing percentage considering that bitcoin has been not so old kind of investment and has been told with so many bad stories everywhere and mostly on the states and yet, there's that amount of people that owns bitcoin. What are you expecting?
100% of them will be into bitcoin? not everyone would be using or investing in bitcoin and the same goes for other kinds of investing instruments where many are sharing.

[hatshepsut93]

Bitcoin is still largely associated with risk and volatility, so it's not surprising that adoption is low, though I agree with all the above posters who say that 6.2% is a decent number. I once saw a youtube video where a guy offered random people on the street a small bet that gave them an edge, and most people still refused to take it, even though it had positive expected value. It demonstrates that people tend to minimize their risks, even at the cost missing good opportunities.

[romero121]

6.2% still sounds high to me. I mean half of Americans don't even participate in the stock exchange at all and I'm guessing most are from their retirement programs.

What's been stated in the article is reasonable. The same if we calculate in terms of the numbers comparing with other countries it is big. The 6.2% is more than 20 million people. If USA has got such a userbase in its population other countries with big population will have almost similar number of bitcoin users. This means there is growth, maybe the same can reach 10% soon. One in ten person holding bitcoin is simply good.

[blckhawk]

One reason might be the media in these countries. It's not just about whether it's a developed country or not. Other factors include public portrayal, and government stance on these cryptocurrencies. As far as I know, President Trump is still against cryptocurrencies, which with the respect to him by the public as one who knows what he says, have an impact to public's mindset about cryptocurrencies. In addition, media in this country shows negative news to crypto, such as those being scammed, which adds up to public's uninterest.

[Shasha80]

The percentage of 6.2% for Americans who own bitcoin is a pretty good percentage, compared to other countries that have
has a smaller percentage. American citizens still invest less in bitcoin because bitcoin prices are volatile, make them frightened
by this. So they prefer investing in the stock market compared to bitcoin. Not to mention the use of bitcoin can not be applied
its use in everyday life, making Americans still choose to use fiat. But in my opinion it takes a long process so that bitcoin can
be accepted by all the people of the world. Therefore the growth of bitcoin will continue and I am sure that in about 10 years
bitcoin owners will increase double from now.

[bounceback]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

maybe because there are several factors that make some Americans not interested in adopting bitcoin, maybe it's because their country's government doesn't like bitcoin and prohibits cryptocurrency in that country, and maybe they aren't interested in bitcoin because for them bitcoin can't be used to meet daily needs day is not like fiat money that we can use anytime and anywhere, but in my opinion 6.2% is included in a decent amount compared to other countries.

[CryptoBry]

...only 6.2% of a highly developed country like the US of America own Bitcoin, which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world.

I am not complaining with that number because that can mean millions too. However, after 11 years and after all the hypes and FUDs surrounding Bitcoin, maybe you expect that at least a quarter of the populations should have holding any amount of Bitcoin. Well, Bitcoin is not that really a very convenient currency unlike the fiat one which we can easily just transfer from one hand to another. Definitely, with Bitcoin there is that learning curve plus if one is not careful there is that risk of losing the coin by any means not to mention the many scammers and hackers just lurking anywhere online.

On the other hand, the very reasons why we have Bitcoin in the 2008-2009 financial crisis have now faded, maybe we should be waiting for another recession for Bitcoin to be a hot and on focused digital asset again. At the height of Bitcoin's popularity in 2017, speculations were the reason why Bitcoin was pushed upward and right now we don't have that kind of level of frenzied activities yet. Plus, there is no marketing campaign done for Bitcoin and in the global marketplace where brands are vying for attention, an ongoing and fully-funded advertising campaign can be needed, sadly here we don't have that privilege.

[Eugenar]

The percentage of 6.2% for Americans who own bitcoin is a pretty good percentage, compared to other countries that have
has a smaller percentage. American citizens still invest less in bitcoin because bitcoin prices are volatile, make them frightened
by this. So they prefer investing in the stock market compared to bitcoin. Not to mention the use of bitcoin can not be applied
its use in everyday life, making Americans still choose to use fiat. But in my opinion it takes a long process so that bitcoin can
be accepted by all the people of the world. Therefore the growth of bitcoin will continue and I am sure that in about 10 years
bitcoin owners will increase double from now.

But the fact that there are many individual in the US that accumulated much volume of the cryptocurrencies such as Roger Ver, Garvin Andresen, and Barry Silbert, they contribute so much in the volume and market cap of bitcoin. Thus, disregarding the small investors they have in their country.

With regards to the 10 year period, for me, the adoption of cryptocurrency worldwide is increasing exponentially. So it will take only up to 3 years for the investors to double.

[barabarian1]

I have read not 6.2% but as many as 8% of all Americans who already have Bitcoin. in my opinion the amount of 8% is quite a lot. and maybe 8% are represented by millennials.
and in my opinion it is indeed millennial generation that can use and utilize bitcoin well. but I am optimistic that the United States is a country that is friendly to bitcoin because a lot of crypto and exchanges come from America. so I'm sure the number of bitcoin users in America will always increase.

[Eclipse26]

Bitcoin is more profitable for developing countries. That's why I think there are more people in those countries who own bitcoin. Maybe why we believe that they should be leading in crypto is because they've already developed and advanced in technology compared to other countries but in reality, people in third world country needs it more for income and profit that's why they're so into bitcoin and crypto.
Bitcoin still needs more recognition. And the government stand on crypto affects a lot on countries adoption. Even if it's a developed country but the government is against it, don't expect mass adoption.

[matchi2011]

That percentage is enough considering the actual populations of the country. More of those people who owns bitcoins are those who are open for
advance technology, people that gain enough information about this system and willing to embrace and adopt. Not only for investment but also
to understand how blockchain system will work and help individually. It's not all being represented by numbers but also by the hold figures.

[Kakmakr]

The reason for this is quite simple, because most of the American citizens are so deep in debt, that it is impossible for them to have disposable income to invest in things like Bitcoin. A lot of the people who are invested, bought those bitcoins on credit and they hope and pray that the price would go up, so that they would be in a better position to pay back the debt.

" As of October 2018, foreigners owned $6.2 trillion of U.S. debt, or approximately 39 percent of the debt held by the public of $16.1 trillion and 28 percent of the total debt of $21.8 trillion. " - Source : https://en.m.wikipedia.org/wiki/National_debt_of_the_United_States

[Wind_FURY]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world.

Then just 6.2% of Americans would be in the next generation of people who could say, "We are the new wealthy elite, ladies and gentlemen".

 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

Link that goes to a shitcoin news site?

[jootn2kx]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

It is still a bit complicated for newcomers to figure it out easily, there are no regulations, Trump himself bashed it, thus becoming the first US President to even acknowledge the existence of cryptocurrencies... Not to mention that, for all the use cases BTC already has, it's still not enough for mass adoption. Things will change over time, but we need to be patient and tenacious.

[alyssa85]

...only 6.2% of a highly developed country like the US of America own Bitcoin, which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world.

I thought people were relying on the unstable parts of the world for mass adoption.

There isn't any need for Americans to adopt bitcoin - they still trust the dollar (which has been gaining value against other fiat currencies since 2014), they have a solid economy and low unemployment. And their banking system is sound (it got fixed properly after the 2008 crash).

Adoption is more likely to happen in Europe due to problems with their banking system and the potential break-up of the euro. (If the euro looks like breaking up, watch for money to flow into dollars, yen, pounds, swiss franc and yes, bitcoin).

[omfg.xekcep]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

Hmmm, I am not surprised, moreover I even thought that the total amount much less than 5% so everything is not so bad. I am absolutely unfazed because I consider it is an excellent situation when every the 20th person has bitcoin(s). Undoubtedly much less people invest in precious metals, in % I mean. Step by step bitcoin goes towards to success conquering hearts and minds of million people and I am sure that it is time to enter bitcoin and other crypto technologies in our life.

[MURONDI]

although bitcoin is the main crypto, but it seems like people prefer to hold other alternative crypto, I myself am holding altcoin more often than bitcoin, like in China more people use eos than bitcoin, I think Americans prefer holding altcoin to bitcoin.

[Shenzou]

I fell like this kind of statistic comes from the fact that bitcoin and other crypto are used mostly by the undeveloped countries, where people are constantly struggling to find ways and things to earn money through the internet because their jobs are not paying as much, People in developed countries don't go out of their way to find a way to make money because the average salary is different that is why in my opinion the percentage of the ones that are involved in it are either big investors or ones that actually support the cause and really want to change the state of currencies.

[teosanru]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

Obviously because of the complications involve with BTC. Not everyone around the world want to remain anonymous in their ventures and realize that banking are scam. They feel banks and markets are perfect and swift. So they use banks for quicker remittances. Moreover even out of the 6.2% I think only 20% might only be using bitcoin for transactions everyday rest of them might only be using it for store of Value. I think problem lies with the transaction times and costs. Maybe Lightning Network could provide a solution for this problem and payments could become swift and convenient.

[milesfull]

Majority of Americans still dont understand what bitcoin is. 6 percent is already not so bad

[Broly46]

That’s a lot for high population country like United State, a 6.2% equalivalent to 15 millions people, I don’t think many no coiner know nothing about bitcoin, they may be too lazy to want to learn more about it, most of them have too much commitment in their life, they need to go work work early in the morning, take care of family on the night, I think one hour of free time is too luxury to them, I’m looking at all my peer, in comparison none of them seem to be interest in bitcoin when I told them about it, I think I’m the only one who has bitcoin, which make me feel awkward among them, for them working is more important than anything else, their life is about work! Work! And more work!

[trumpman]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

Assuming that the 6.2 % figure is correct, which I will take with a grain of salt since I don't see a published scientific paper, I will say the numbers look pretty good!

After all, bitcoin and cryptos are still too complex for the average joe and let's be honest... pretty useless, at least from their perspective! What I really wonder though is how many people out of that 6.2 % are actually into because of the technology and usecases and how many for the moons and lambos  

[chaoscoinz]

I really don't think people are aware it exists. Sure you have quite a few people that have heard of Bitcoin but many have never really put much thought into what it exactly is or how it exactly works. Crypto-currency is well known bought not well adopted. Until their is an easy to explain concept, the understanding of  Blockchain & Bitcoin will float above most peoples heads. It really isn't taught in school unless you find a specific course related to cryptocurrency and Blockchain. Try explaining Bitcoin and Block chain to average JOe in society or the elderly or disfranchised. Just try and explain it to my grand mother or nieces and nephews ( ), I promise, you wouldn't get far.

[merchantofzeny]

Likely it's a convenience issue. Americans love their credit cards and loans! I doubt they haven't heard it yet, most major network has made at least one story about Bitcoin.

[Reid]

At first thought, I didn't think many of them really owns bitcoin.
Why?
1. They want ease with their everyday necessities and that means payments. That is why credit cards are the mostly used by them.
2. Their president is against it. Although they are now divided, the guy is a businessman which means it could be reliable. (although not)
3. They already know about gold which is more trusted to them since it was discovered. They would rather pick something into which they could hold on to physically than something which is not.

There are more answers to that why question but I am getting tired.  I guess to summarize it all, they are pessimistic about the bitcoin technology.

[crypto_neil]

Solid economy and low employment.  The historic 10+ year bull run, coupled with low volatility, and ease of access to traditional assets over the past decade.  It will be telling to see how Bitcoin responds during the next bear market and whether more Americans adopt if it is able to produce uncorrelated returns as a safehaven to store assets - similar to the role of gold in a down market.

Bitcoin remains too complicated to understand and difficult to buy for the average person.  Time, education and new service offerings from the large institutions is needed.

[BitHodler]

Likely it's a convenience issue. Americans love their credit cards and loans! I doubt they haven't heard it yet, most major network has made at least one story about Bitcoin.

It's hard to believe that people haven't heard of Bitcoin yet, so your observation is something I can agree with. People here just need to accept that the demand for Bitcoin isn't all that high yet in relation to the entire US population.

Taking above into consideration, it shows how much potential demand there could be for Bitcoin, so if we have gone up to where we are today with low adoption, imagine what's going to happen when mass adoption actually takes place.

At today's price the risk v reward ratio seems pretty solid, so I am adding to my spot position twice a month.... if we fall even lower then I'm getting even more satoshis for my fiat so you won't see me complain.

[minersday]

The idea of owning and keeping your money in a form digital currency scares people even if the platform of bitcoin looks good and flawless. This discourages people from owning bitcoin since they are scared they might lose their money with the least mistake.  To further add to this regarding why just a few percentage of Americans own bitcoin,  bitcoin as been referred to as nerd money. This means that only people who are into computer programming and science know about Bitcoin and own some of it. This can somehow 6.2% have knowledge about Bitcoin and own bitcoins...

[dimox]

i think, in every country also have that number, but some country have high user and maybe above 10%. if we join on internet, some site, maybe many people of different country, but actually maybe it just same person with many account. the spread of bitcoin is not fully conpleted. thats why, if we want to world, all of people know about bitcoin, we must spread. to known person until strange

[bitcoinposts]

Amercias should get knowledge about crypto currencies and their benefits and mass adoption should increase in america then we can expect more btc owners

[boltz]

6.2 its a pretty nice percent for Americans as they have a high number of population so there is still a lot of space to grow that number in the next months/years. My guess would be that as soon as Libra projects gets approval a lot of Americans will jump into the crypto train especially on Bitcoin and XRP. Another things is that I'm glad that the number of world wide adoption is growing on a decent pace every day and this is why Bitcoin was created right ? To be used by everyone , everywhere.

[karanggatak]

6.2% of all the citizens of the United States I think quite a lot. if counted there are around 20 million people who use bitcoin. and I'm sure the numbers will continue to grow. most people are not familiar with bitcoin they are accustomed to using fiat money or credit cards or paypal for daily transactions, and also not everyone has more money to use bitcoin investments. so it's natural if in each country the number of bitcoin users is below 10%. but I am optimistic that when bitcoin next year can become bullish again like 2017 then more people will be interested in investing in bitcoin.

[Fatunad]

Only 6.2% and btc price reach as high as $20,000 and it's just running for 10 years. There will be a lot of changes and adoptions soon not only with the americans but also to another countries. One of the reasons why only 6.2% of americans holds btc because they have a lot of choices to put their money in like the stocks and some retirement plans and other retirement investment form.

[caffu chino]

because there, bitcoin/crypto has not been fully legalized. This is the main reason why there are still many people who do not have bitcoin. the US government is very strict in this matter, just look like the case of libra and telegram. the two projects are still uncertain, because the US government has not yet given permission.

[Vishnu.Reang]

It's simple, and there are some reasons, but I'll make short

BTC is not so easy to pay to use like a credit card for example, it require a few steps, but not so easy for people who are't into technology
BTC is in the hands of the most rich in US, people with high amounts of money and coins, it's not for the poor

I would disagree with both the points.

1. Making payments with Bitcoin is easier than doing so with credit cards. That is true at least for the online payments. My only concern would be the transaction fee for Bitcoin, which can be volatile.
2. The second point is not right. Actually it is the opposite case. Bitcoin is an asset that can be held by the poor as well. Because Bitcoin is almost infinitely divisible and it is possible to purchase BTC for very small amounts (like $5 or $10). This advantage is not available for any of the other assets, including stocks, bullion, treasury bonds and real estate.

[hermawan9416]

Because the US government is still trying to resist the spread of cryptocurrencies.

[Astvile]

How can you say 6.2% is an only part of total American citizens. 6.2% is really big if you'll gonna compute it to the total American citizen population right now. It is well over 20million people who own bitcoin in the America and that is ridiculously big compared to other countries.

[jets567]

Bitcoin is not fully adopted so for me the 6.2% is a good thing in crypto-space and I'm pretty sure that it will grow more in the few years though I'm thinking that maybe some Americans are staying away from Bitcoin is because there are lot of rejection in hearings recently that pertains to Bitcoin which is held in their country.

[V1saya]

If there are 327 million American citizens, 6.2% of it is 20.3 million. Which means there are 20.3 million Americans that own Bitcoin. If about one-fourth of the Americans are aged 20 to 40 or 81.7 million, it means that one-fourth of them are owning Bitcoins. Which is not bad after all. 20 to 40 years old are the working class and they will be the most influential in the next 20 years. If bitcoin continues to scale accordingly then the future looked very promising.

[LbtalkL]

6.2 percent is not that bad there are only 5000 people respondents. Survey on 5000 people does not conclude anything, I google  US population last 2018 the result is 327.2 million (2018). There are so many people that are not included or covered on that survey right? 5k compared 300M+ people. That is why I don't believe in surveys.

[CarnagexD]

Hey, 6.2% is not bad at all IMO.  That means there's lots of room for growth.

6.2% of American people is not a small population, we are talking here millions out of 100% that owns bitcoin and that is roughly 18 million people. Let us not factor out the ages or who knows what crypto is, that would be different approach. Amazingly that is already a growth.

I've always thought that the reason most Americans (and most people in general) don't own bitcoin is because they don't see a real need for a replacement for fiat.  The USD is a very stable currency, inflation concerns aside, and American citizens don't feel the need to go way out of their way to buy another currency with their USD simply for the sake of spending it.  That's mainly why bitcoin doesn't get used as a currency.

Given that they have the strongest fiat currency, a stable and mostly used one, another thing is the monetary policy they have. Their government are protecting their citizen from fluctuation and volatility from cryptocurrency.

[panganib999]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

I've read the article and it shows that the majority of the respondents do not own any cryptocurrency, specifically bitcoin and also not interested about buying some anytime soon or later. The reason why bitcoin's adoption has been hitting the critical level of popularity index is because people hasn't even heard of it and barely know what bitcoin is all about, bitcoin is lacking in terms of the marketing that advertise it and make it to the mainstream. The popularity and the good image of bitcoin only circulates within the cryptospace, not reaching non BTC fans and letting them know the things that hooked crypto enthusiast's interests.
        Also, people that are said to be 55 of age above increased the number of non-BTC fans, that article was right that this was probably because people of thatge is nearung the retirement age and would prefer investing in a stable coin rather than bitcoin which is very volatile and risky to even start.
        

[joinfree]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

America is a great nation and with a great number of population so having 6.2% of the entire nation using bitcoin is quite a large amount mate. Also considering all he harsh regulation policies that surround cryptocurrencies and the fact that users can get charged high fees if they don't comply with the rules. It's a step in the right direction, let's hope this number increases with time now that we have seen China softening up on cryptocurrencies.

[shield132]

It's simple, and there are some reasons, but I'll make short

BTC is not so easy to pay to use like a credit card for example, it require a few steps, but not so easy for people who are't into technology
BTC is in the hands of the most rich in US, people with high amounts of money and coins, it's not for the poor

Oh, if you ask people here, it's one of the most easiest payment method available in this universe but in reality it is not and what you wrote is 100% right, why to waste time on opening bitcoin wallet and sending btc to specific address while we can easily touch our visa/master cards to terminal.
And why isn't btc for poor people? I think more likely they are looking for easy money and when we talk about easy money, bitcoin always pops up because of various reasons.
Also if that percentage of people who own bitcoin in USA is right, which according to post is 6.2% it's still pretty good. Maybe this percentage sounds low but in overall, to calculate 6.2% of population, it's still good number.

[josephdd1]

Because the cryptocurrency industry still has several drawbacks that understandably give experienced investors pause when they're choosing whether to invest.

The market is largely manipulated, most cryptocurrencies are so volatile they're downright dangerous to hold, and there are very few regulated investment options for investors.

If you were an experienced trader, you would stay well clear too.

[ololajulo]

It may look small but 6.2%  is around 20.2 million US citizens using cryptocurrencies, trading it, or even mining it. That kind of number is something to be comfortable as a crypto enthusiast because really we are in the millions in the country of USA alone what more if we count the total users/hodlers of BTC around the world? I'm sure that will be more than double especially we have crypto friendly countries like Japan and Korea leading the way. That 20.2 million US citizens can also be considered as demand and I don't think big companies will deny the opportunity to take advantage of it, we've seen companies like Steam previously take advantage of it in the early phase and I don't think it will stop there.

I went for the population in number when I saw the 6.2%, It is not that small fraction of the population. With a sample size of 5000, I dont consider that a good representative sample of the whole America population. This is a country with a wide disparity in technology, education, race, economy etc which are factors that can determine the knowledge of investment and personal finance decision.

[Nolimitz84]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

6.2% is it a lot or a little?I think it's a lot. I'm sure it'll be at least three times as much in five more years. It seems to me very difficult to count the owners of cryptocurrencies.Therefore, not the fact that this figure is real.that the actual number of owners of cryptocurrencies in America is much higher.

[TRONTON]

Binance once lost more than half of their daily trading volume traffic when they closed services for US citizens from their global websites, and at the same time it also had an impact on Bitmex volume. Speculation from the media cannot prove the phenomenon because they do not have accurate data, but that is a fact that has existed. US holders still look more comfortable hiding their bitcoin assets factually.

[goaldigger]

6.2 percent is not that bad there are only 5000 people respondents. Survey on 5000 people does not conclude anything, I google  US population last 2018 the result is 327.2 million (2018). There are so many people that are not included or covered on that survey right? 5k compared 300M+ people. That is why I don't believe in surveys.

Include the population who don't want to take and be part of the survey, and since this is a random selected survey we can't be 100% sure on this. 6% is still a good number actually compare to other countries who are none users at all. Maybe some US Citizen who owns bitcoin doesn't want to expose themselves so they avoid the tax considering the rate on US is quiet high. The number of users who owns bitcoin are increasing every year, US is a good place for that.

[riso2015]

Not only in America, but I think almost all countries also few citizens who have Bitcoin. This is because their knowledge about the world of Cryptocurrency is still low so they think that Bitcoin is just a game, wasting time. But for those who already understand about Bitcoin I'm sure they will have the desire to have Bitcoin.

[Gozie51]

I believe that people who rely on bitcoin more are the less developed countries whose citizens are sourcing for themselves on ways to survive and thus, they see bitcoin as a heaven made avenue. Hence, they struggle to convert their little fiat into bitcoin to trade or hodl with the expectation of fast increase. Countries like the US that have good economic base won't have too many citizen relying on hodling bitcoin, the government have taken care of the basic needs including employment.

[imstillthebest]

i heard before that cryptos such as bitcoin are banned on the america/u.s country and that simply means that the number of 6.2 percent is still reasonable but its surprising that how can people still use crypto on that country ? or maybe im wrong ,  maybe its not totally banned at all but only being restricted on most countries  but those percentage are not forever because i believe that once bitcoin and cryptos are recognized by the most countries , other fewer ones wont have a choice but to also suport it  .

[ololajulo]

That is the scam , there is no mass adoption.
They use that to trick the rubes into buying/holding it.
The other scam is their is only a 21 million supply.
In reality, their is an almost infinite supply if they keep increasing to the right side of the decimal point.

I dont understand a lot of your hypothesis, some looks bizarre....  what do u you mean by infinite supply of bitcoin and stating the 21 million is a scam. the right side of the decimal point?   are you just enjoying the sarcasm? Mass adoption is needed in the USA and some first world country where a good some of money can flow from to the space, so mass adoption is still the subject of a greater breakthrough

[airdnasxela]

It doesn't matter how many percentage because it will still continue to grow. How many population does the America have, before we can say that, that 6.2 percent is a small percentage. It doesn't mean that a developed country, they're the one who are always ready with this kind of development...

And if we see it as something small, then let's work harder to promote cryptocurrency and bitcoin to other people. That's the only way we can help increasing bitcoin's adoption, not only in America, but with all other countries who doesn't have strict regulations with bitcoin.

[Bonenx14]

It doesn't matter how many percentage because it will still continue to grow. How many population does the America have, before we can say that, that 6.2 percent is a small percentage. It doesn't mean that a developed country, they're the one who are always ready with this kind of development...

And if we see it as something small, then let's work harder to promote cryptocurrency and bitcoin to other people. That's the only way we can help increasing bitcoin's adoption, not only in America, but with all other countries who doesn't have strict regulations with bitcoin.

You are right the use of bitcoin will continue to grow, and in that percentage I think it's good enough because it only counts in one country. I believe crypto user growth will continue to grow and if users in the United States of that size I think in other crypto users there will be more users do not stick to the country saur only

[fuguebtc]

The main thing to focus on is the growth rate for Bitcoin adoption in the USA as well as in the rest of the world. Before 2017, not many know own or know what CC is. Secondly, Bitcoin is a global currency and it doesn't matter how many in the USA own bitcoin, goal of bitcoin is to bring everyone in this ecosystem and BTC is successful in reaching to every corner of the world.

[pakhitheboss]

Never believe on those studies, they are done either to create FUD and sometimes FOMO. The situation is far grim than what we hear or read in those articles. Until regulation are passes assume what I am assuming.

After the 2017 Bitcoin price hike, things have change a lot. You never know who is opposing and who is supporting Bitcoin. Take the example of China suddenly they are not against Bitcoin

Something is not correct...

[South Park]

6.2 percent is not that bad there are only 5000 people respondents. Survey on 5000 people does not conclude anything, I google  US population last 2018 the result is 327.2 million (2018). There are so many people that are not included or covered on that survey right? 5k compared 300M+ people. That is why I don't believe in surveys.

That is the way statistics work, if we had to consult everyone then we will never be able to know many things, statistics rely on getting a big enough sample and then make inferences about it, it is not perfect but it is better than not knowing anything and it is also cheaper as well, now about the statistic itself, it seems some are discouraged by those numbers but I think those numbers great, if in the future we reach 20% that could be enough to force business to stop ignoring bitcoin and accept it as a form of payment.

[Memminger]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

Considering the level of adoption of Bitcoin globally, I think that 6.2 percent is quiet significant and I think it will grow more in the future as Bitcoin will get known. I think that Bitcoin is growing its popularity not that fast but as the time goes by the popularity increases exponentially especially when the price skyrocketed and more people would join especially now  that some countries are legalizing Bitcoin and some well known personalities and companies are using cryptocurrencies then that would lead people to believe more on Bitcoin.

[BlacksmithCorporation]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

Maybe they think that Bitcoin is too risky and Americans always use the dollar, so they are not interested in the purpose of digital money like BTC. It seems that many Americans think that if their money works well, why do they need a second option?

[qwertyup23]

Well to be honest, unlike the conventional method of investment present in the market, most American consumers prefer the traditional way of investment due to media influence and stigmatizing its reputation across the world.

To be honest, given the limited users and people who use cryptocurrency as an investment. 6.2% is a relatively large number given the population of the whole America. But you are actually right, the goal and aim here is to attract and gather more users to invest into cryptocurrency as this may be the future of transactions in the near future.

[darkangel11]

In fact, 6.2 percent is not so small when you think about it.

Exactly. If only 1% of the world population owned some Bitcoin it would be worth 100 times more than it is now. Yes we'd be nearing a million dollars per coin for sure since there's less than 10 million BTC available for trade at exchanges. The rest is lost or held on cold wallets people aren't going to touch even if Bitcoin jumps by 1000% so all those billions of people will have to share 10 million bitcoins. Imagine the value, even when each of them decide to buy less than 1 mBTC. I wish we one day reach 6% in whole Europe.

[Emitdama]

I don't know how many people have adopted cryptocurrency so far, but I'm not really expecting like everyone to adopt it. I just see it mainly as a payment method and it's not a must that everyone will adopt it, it's a matter of choice. People are free to make use of whatever they like; whether they want to make use of any thing they want to use, whether cryptocurrency or fiat. I do know people that are making use of cryptocurrency for different purposes, some investment and some for transaction. There are lots of them that makes use of cryptocurrency and you might not know.

Likely it's a convenience issue. Americans love their credit cards and loans! I doubt they haven't heard it yet, most major network has made at least one story about Bitcoin.

That's true. Those I know prefer to make use of PayPal and when you mention Bitcoin they seem not to be interested in it. Maybe because it is volatile. Still their choice. Libra would have worked with PayPal I guess, if it was successful.

[target]

In fact, 6.2 percent is not so small when you think about it.

Exactly. If only 1% of the world population owned some Bitcoin it would be worth 100 times more than it is now. Yes we'd be nearing a million dollars per coin for sure since there's less than 10 million BTC available for trade at exchanges. The rest is lost or held on cold wallets people aren't going to touch even if Bitcoin jumps by 1000% so all those billions of people will have to share 10 million bitcoins. Imagine the value, even when each of them decide to buy less than 1 mBTC. I wish we one day reach 6% in whole Europe.

6.2% is equivalent to 20 million bitcoin users in US. Thats a lot actually, add it all to the people in China who are using cryptocurrencies and to Russia and all the rest I think the world is already ready for cryptocurrency adoption. There are 6000 ATMs all over the world, if the coming bullrun ain't making anyone interested to see what exactly is Bitcoin and crypto I don't know what will.

[coin-investor]

It's simple, and there are some reasons, but I'll make short

BTC is not so easy to pay to use like a credit card for example, it require a few steps, but not so easy for people who are't into technology
BTC is in the hands of the most rich in US, people with high amounts of money and coins, it's not for the poor

6.2 still good and 7.3 percent were “considering to invest in Bitcoin.” is still good, after the halving that 7.3 can be added to the overall total if that number converts at least 70% of it, it's still good although there is no mentioned of the past surveys, but with that data we are moving forward and it will still go up, but on the percentage we'll know after a year or two.

[gentlemand]

So at the average superbowl 6200 out of the 100,000 people there will own Bitcoin. That sounds like a ludicrous figure to me and I don't buy it.

The survey size was 5000 and it says nothing about how they were chosen. I'm pretty sure it wasn't done at truck stops or Nascar races.

[chaoscoinz]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

What you don't understand is, that people really don't have a clue what Bitcoin or cryptocurrency is. Sure they may have glimpsed a news article or seen a news briefing on tv, but how many people actual know how to use cryptocurrency. If you were to try and explain it to my grandmother, she'd say your tripping balls. If it hasn't got a push from a celebrity or major public influencers. People won't bother to touch it.
   This is why I feel Facebook's Libra is the answer to the mass adoption problem. Facebook alone could educate the world about Blockchain & cryptocurrency.

[stepwilli]

Hey OP, what assurance do you also have that the figure that you have there in that article is from a genuine source, because if you look at Americas, one of the largest exchange also came from there which is Coinbase, and if you also look at binance, it is because they hopefully have a large users from United State that made them to create a separate exchange for them according to the demand of the country, so I don’t want to believe that the number of users of cryptocurrency from US is that little and even if the percentage is little, change it to the population, we still have it running into millions and you can imagine if those millions put money into the market, how much in dollar that would be, and also, adoption is gradual, the figure will continue to increase until we have a substantial figure.

[fiulpro]

I don't think anyone rely on the Americans for the Bitcoins and other cryptocurrencies honestly.
It takes time for people to settle in into something new , something they don't know about therefore even this much percentage is fine for the time being.
Some people are uneducated, some are poor , some doesn't even have the access to the internet , we cannot assume that everyone have internet and basic education therefore I think it is fine for the time being.

[South Park]

So at the average superbowl 6200 out of the 100,000 people there will own Bitcoin. That sounds like a ludicrous figure to me and I don't buy it.

The survey size was 5000 and it says nothing about how they were chosen. I'm pretty sure it wasn't done at truck stops or Nascar races.

If they had any bias when they were selecting the sample then you are right their conclusions are useless, but it will also interesting to know the full extent of the survey since only a few details were released in the article, and about your observation about the super bowl, that is a very expensive event, you need money to assist and those that have money to spare on super bowl tickets could spare it to buy bitcoin, so while I have no way to prove this my intuition tells me the percentage of bitcoin holders among those assisting to the game should be higher than 6.2% if the survey is correct at all.

[Mike Mayor]

6.2 percent is not that bad there are only 5000 people respondents. Survey on 5000 people does not conclude anything, I google  US population last 2018 the result is 327.2 million (2018). There are so many people that are not included or covered on that survey right? 5k compared 300M+ people. That is why I don't believe in surveys.

That is the way statistics work, if we had to consult everyone then we will never be able to know many things, statistics rely on getting a big enough sample and then make inferences about it, it is not perfect but it is better than not knowing anything and it is also cheaper as well, now about the statistic itself, it seems some are discouraged by those numbers but I think those numbers great, if in the future we reach 20% that could be enough to force business to stop ignoring bitcoin and accept it as a form of payment.

6.2% is not so bad. More then I thought. I do somewhat agree with the first poster 5000 just isn't a big enough sample. You said it needs to be big enough. I think for a financial matter you would need to survey at least 20k people or so.

I think even if we reach just 10% it would be a good thing. 20% would be epic. I wonder what PayPal would be? How many people use PayPal in comparison.

[worldtraveller321]

one reason. Is most people dont want to talk about the fundamentals of money. Many do not want to be educated about the flaws of current money system. Many are just blind to the truth. Many dont want to know history of money. Many may address inflation as a fault of someone else.

or people have no intention to look at the truth. Will take some time before people will look forward.
yes talking to someone on the street about the blockchain may not be interesting to someone who just is a walking zombie to their phone playing games all the time.

[BITCOIN4X]

~snip

The higher the sample used, the more accurate the results. Just taking 5000 samples to survey in my opinion still looks too low to say that bitcoin is only owned by 6.2% of Americans.
In my opinion, the title should be "Out of 5,000 Americans, 6.2% of them have bitcoin".

America has a population of more than 330 million based on the site United Stated Cencus. Each region has a different level of knowledge about bitcoin, and if 5000 samples were taken in only one region, the results might not be accurate enough.
But 6.2% of the survey results above are not bad results, it has proven that adoption of bitcoin is quite good there.

[contraband]

ONLY 6.2% lmfao

Not even close to 20 million americans own Bitcoin...


100% zero chance smh.

Look forward to the the day its true tho.

[Bitcoinman532]

some people still arent aware of what bitcoin or any crypto currency are. Help out your fellow citizens and get the word out there!

[Pom_bensin]

There is another reason why BTC is only owned by 6.2%. first, maybe bitcoin is not understood by others in depth. secondly, I think bitcoin only reaches certain circles that they are easy to understand bitcoin. Because even though America is a developed country, not everyone in America has a positive respect for bitcoin

[StephenieDuong]

For most people, bitcoin still not legit and invest into bitcoin is not safe. Bitcoin price can move up and down really fast, which can make investors make lost. And bitcoin can not become popular payment methods which because high transactions fee and take long time to confirm. So that's why only 6.2% people in American own bitcoin. 

[ampu]

6.2% is a very large number because the United States is a country of more than 300 million people, including the elderly, children and the labor force aged 15 to 64(Data as of 2017). I think the majority of cryptocurrency owners are mostly between the ages of 16 and 60. According to the US population structure, up to 66% of the US population at this age. In conclusion, we will see that nearly 10% of working-age people own cryptocurrencies. This is an optimistic figure, I believe that in the next 3-5 years this number will increase a lot.

[WRAOUF]

i think, in every country also have that number, but some country have high user and maybe above 10%. if we join on internet, some site, maybe many people of different country, but actually maybe it just same person with many account. the spread of bitcoin is not fully conpleted. thats why, if we want to world, all of people know about bitcoin, we must spread. to known person until strange

[karanggatak]

the number of bitcoin users is indeed not much because there are still many people who do not understand about bitcoin. and also not everyone has money to use bitcoin investments. and some people are also afraid to invest bicoin because bitcoin has a high risk they prefer to invest in stocks or mutual funds that have a lower risk. and also the use of bitcoin for payment tools is still limited. so naturally if there are still many people who do not yet have bitcoin.

[thesmallgod]

I don't think 6.2% is bad maybe because of the percentage but the total amount of people is huge when you consider the  total population of america. As we all know most american prefer not even paper money but credit card in paying for goods and services and this has become part of their life. Bitcoin is not that easy to use because its not all merchant that accept crypto as payment processor compare to the credit card. Intact some of merchants accepting bitcoin before are now rejecting it due to the high volatility of the coin.

[Assface16678]

I don't think 6.2% is bad maybe because of the percentage but the total amount of people is huge when you consider the  total population of america. As we all know most american prefer not even paper money but credit card in paying for goods and services and this has become part of their life. Bitcoin is not that easy to use because its not all merchant that accept crypto as payment processor compare to the credit card. Intact some of merchants accepting bitcoin before are now rejecting it due to the high volatility of the coin.

America is one of the biggest countries in the world, and they have one of the most populated countries. However, still many people are not using cryptocurrency or especially the bitcoin even they are near to the top bitcoin countries in the world. Some of the reason is they have already a good life, and a stable job and also the earnings they have is enough for their needs, and they don't need to use the bitcoin. There are few people still using the bitcoin because they know the potential of this currency to make more earnings with the use of gambling and most likely is the trading that you can earn a 50 dollars in a single day.  The percentage of 6.2 is enormous now because they are now adopting the use of bitcoin to their transaction because it is easier to use.

[sovie]

To use bitcoin you need to be technology aware. Majority of bitcoin users are millennial and elderly people who don’t have much knowledge about technology are quite away from bitcoin. I would say 6.2% is still high; there are countries where awareness about bitcoin is less than 1%.

[Cimmy_revenger]

To use bitcoin you need to be technology aware. Majority of bitcoin users are millennial and elderly people who don’t have much knowledge about technology are quite away from bitcoin. I would say 6.2% is still high; there are countries where awareness about bitcoin is less than 1%.

That's right , in my country user cryptocurrency under 1% .
almost 60% of the 1% is still a lot cheated on ponzy under the guise of cryto.

[Lanatsa]

To use bitcoin you need to be technology aware. Majority of bitcoin users are millennial and elderly people who don’t have much knowledge about technology are quite away from bitcoin. I would say 6.2% is still high; there are countries where awareness about bitcoin is less than 1%.

That's right , in my country user cryptocurrency under 1% .
almost 60% of the 1% is still a lot cheated on ponzy under the guise of cryto.

We cant really have that precise percentage on each country though and i dont know how they do able to know on such numbers.
6% is really high if we do talk on entire population and as said some countries do have even more lower.Its quite understandable though
since we are just 10 years old and counting.Adoption is still on the move and expect for these numbers to rise up.

[TitanGEL]

To use bitcoin you need to be technology aware. Majority of bitcoin users are millennial and elderly people who don’t have much knowledge about technology are quite away from bitcoin. I would say 6.2% is still high; there are countries where awareness about bitcoin is less than 1%.

That's right , in my country user cryptocurrency under 1% .
almost 60% of the 1% is still a lot cheated on ponzy under the guise of cryto.

We cant really have that precise percentage on each country though and i dont know how they do able to know on such numbers.
6% is really high if we do talk on entire population and as said some countries do have even more lower.Its quite understandable though
since we are just 10 years old and counting.Adoption is still on the move and expect for these numbers to rise up.

Awareness is the main problem why there are only people who are using bitcoin nowadays. If we have better education about bitcoin, cryptocurrency and blockchain then the awareness will grow. As for my country, it is about less than 1% who are using bitcoin and for me it is very low. The government should create a regulations wherein they will create seminars and courses that can increase the awareness of the other people about bitcoin.

[Icygreen]

Sorry, there is not 20 million people in the USA owning Bitcoin or other digital assets. A Generous estimation would be 1.1% which is 3.85 million people and even that still seems high. Perhaps even .5% could be more accurate.
Bitcoin is still seen as an ultra risky asset and largely not understood by a population who barely understand the difference between a web browser and google search.  No way does 20 million people own this yet. Perhaps not even worldwide. I could be wrong there but I don't see any evidence of that yet.

[tsaroz]

6.2% of US citizen is a huge population. Compare it with the 84% total that uses internet.
Public internet is here for 30 years while Bitcoin is here for just last 10 years. Crypto is one of the fastest growing tech of this century.
And with current rate of rise of bitcoin ownership, bitcoin would soon have a price boost that would attract even more people towards it.

[Peashooter]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

i think that is because most of the american have their own job, and they often loaded with the things that they have to do each day in which incorporating other foreign things might be so time consuming and I guess this is real for most of the people who heard about Bitcoin but until today they are still not open about embracing it since Bitcoin was too volatile at this moment and they couldn't risk their money with regards tot his which they can use on other thibgs like building up a business.

[electronicash]

digital currencies will probably expose people to cryptocurrencies because it happened in Switzerland that they were introduced to cashless technology which they pay items on stores using their mobile so they tend to open up to newer technology like crypto. Trump however isn't that open to crypto but may be the next president will be. 6.2 % only but i think this is spread out the country.  more users are probably in south America.

[qiwoman2]

It's much better than I thought to be quite frank because I thought with all the different regulations and the IRS it would put a lot of Americans off owning Bitcoin. Then again, they would want to be at the forefront of this revolution seeing that they have Silicon Valley and a lot of tech going on there. Anyway, it's not a bad amount of people owning Bitcoin and when I started out, I remember it was less than one percent. If over 20/255 start owning Bitcoin, then yes we are at mass adoption stage then. Got a long way to go though.

[redsun114]

Maybe you should make use of Gold and Silver to compare to this –Gold has been around for a very long time and same thing with Silver, but a new survey shows that only about 12% of US citizens owns gold and around 14% owns Silver. So if such percentage of the US citizens are interested in gold and silver what makes you think that more would be into Bitcoin?

Only 6.2% owns Bitcoin, that’s even more than what I have expected because bitcoin has only been around for a decade, that’s way too less compared to gold which is over 5000 years.

[Xxmodded]

Did you get correct information source about 6.2% of American citizen have own bitcoin, there are bigger population in the world are using bitcoin as currency and best way for investing in bitcoin. I look not really trusted with 6% citizen of America have adopted and used bitcoin as their way for trading or only as investment project only.

[Bim abk]

Did you get correct information source about 6.2% of American citizen have own bitcoin, there are bigger population in the world are using bitcoin as currency and best way for investing in bitcoin. I look not really trusted with 6% citizen of America have adopted and used bitcoin as their way for trading or only as investment project only.

when talking about data, we have to look at the source first, plus we don't know for sure whether people report everything or not. but actually 6% is big enough because bitcoin is still young enough for its development, and I'm sure user growth will increase every year.

[TEX-LXRY]

I would think Bitcoin adoption in developing countries would be more "necessary" as part of banking the un-banked thesis. In the West, bitcoin although very innovative can be seen as just a speculative asset. West has sound relatively sound financial  and banking infrastructure and as such, less urgency in adoption.

[Asmonist]

If that is true then its maybe about the legalities and tax issues that may possible hinders the american citizens to own bitcoin. There are maybe not yet known of owning it. We all know that the privacy of owning bitcoin and people having it may not like to be known. I think the 6.2percent are those who want to be known all others are just silent and private about it.

[seoincorporation]

6.2% sound as a small number, but when we are talking about a population of 327.2 million (2018) then 6.2% is 20286400... If each American citizen involved in bitcoin decides to buy one, then they will have all the bitcoins.

And if the percent is low is because bitcoin doesn't have the right diffusion there, sad but true...

[Murat]

If you are worried about the percentage then you have to understand that 6.2% is not a small number if it's true, for me, It's a huge number, one thing you have to consider that most of the Bitcoin user doesn't say about this system to the people because of some legal aspect, you have to take another thing that, American people don't need to get involved in this system because their currency is the strongest currency in the world, so I haven't expected such type of ratio, I think Bitcoin is much more popular outside the USA, but there is still a lot of chances to get popular in this area.

[Polar91]

If you are worried about the percentage then you have to understand that 6.2% is not a small number if it's true, for me, It's a huge number, one thing you have to consider that most of the Bitcoin user doesn't say about this system to the people because of some legal aspect, you have to take another thing that, American people don't need to get involved in this system because their currency is the strongest currency in the world, so I haven't expected such type of ratio, I think Bitcoin is much more popular outside the USA, but there is still a lot of chances to get popular in this area.

And basically, we don't really need everyone to have or own portions of bitcoin, as long as they are distributed across the nation and around the world, that will still do, because adoption in its finest will happen, if people could see bitcoin users from left side of their vicinity, to right side of their neighborhood. Indeed, will influence them to search bitcoin and to probably use it. Moreover, statistics of 6.2 percent american aren't too bad, most of the cryptocurrency channels are made by americans and they are inspiring allot of people in the world that is really making an impact to huge market adoption.

[crossabdd]

that's because countries with leaders like America haven't yet accepted bitcoin openly. in america, crypto growth is highly controlled. and has very strict rules for bitcoin holders. so, there are very few crypto holders in that country. some crypto developers in the country are out and continuing outside the US. America is still a controversy with Bitcoin. and try to defend their dollar.

[theskillzdatklls]

I'm actually surprised to know if it's that high if that's even true. I would have guessed ~2% if someone had asked me. But the answer is that it's a new technology, bad user experience, it's risky, bad consumer awareness and whole host of other reasons.

You could have asked why only 6.2% of Americans used the internet at a particular point in history and pointed to all of it's benefits for the exact same reasons. Despite the fact that it was still pretty useful during this stage.

[peter0425]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

relying on america for bitcoin to be adopted?lol is that a joke?there are many countries that welcome Bitcoin and crypto more appropriate then why just america?be realistic mate ,because world dont consist of US only there are other who will make crypto known and valued worldwide,just look and see.

[TedMosby]

Maybe because USD is more stable and still strong enough against other fiat currency.
Look at this data: https://coinspace.com/news/global/top-countries-driving-cryptocurrency-adoption-2019-report
Crypto is more popular in countries with unstable economy.

---

USA - 3rd most populated country - 331,002,651
https://www.worldometers.info/world-population/population-by-country/
331,002,651 x 6.2% = 20M ++ WOW!
...
Australia population = 25M
Netherlands population = 17M

---

As comparisons with gold, silver, and stock:

New Survey Reveals 12% of The American Population Owns Gold, While 14.7% Owns Silver
https://20somethingfinance.com/percent-of-americans-own-stock/

The Percent of Americans who Own Stock Hits Record Low
https://20somethingfinance.com/percent-of-americans-own-stock/

[Wipeout2097]

Here is one thing to learn only a 6.2% of Americans owning BTC,Same here around the globe under 5% people own the BTC.Now question arise why peopel are not owning BTC,there are many reason but the main reason is unawareness and the legality of BTC.

Due to legality issue people avoid to get in BTC because they face trouble in buy and sell and dont find a platform within a country that allow Buying and selling independently.

[Aikidoka]

6.2 percent is seems reasonable because currently there's not a lot of people using it because they're afraid of the risk of it, like probably they probably think that bitcoin could die and they're thinking of the negative things than the positives things about bitcoin, furthermore, they probably think that bitcoin is created only to be used in the bad things, I mean here by using it in the Darknet marketplaces to buy and sell illegal stuffs.

[Bitcoinislife09]

If you are worried about the percentage then you have to understand that 6.2% is not a small number if it's true, for me, It's a huge number, one thing you have to consider that most of the Bitcoin user doesn't say about this system to the people because of some legal aspect, you have to take another thing that, American people don't need to get involved in this system because their currency is the strongest currency in the world, so I haven't expected such type of ratio, I think Bitcoin is much more popular outside the USA, but there is still a lot of chances to get popular in this area.

I guess it was already a lot of people but comparing it to a number of Americans that is only a small percentage. I've seen a lot of people overseas that own a bitcoin. I think if we are going to get the percentage of American that know bitcoin we could easily get a high percentage in the Americans but surely there is only a small percentage that own bitcoin since a lot of people is not going to put money in the line or in the risk in cryptocurrency.

[Spaffin]

The fact is that a very narrow circle of people are interested in cryptocurrency, and in addition to the information space, negative information and statements of various kinds of officials about problems in the cryptocurrency market and about the big risks of investing in cryptocurrency are constantly heard.  Based on this, most people are negative about cryptocurrency, and a significant part do not even want to study or verify this kind of information about the degree of benefit of the cryptocurrency business.  I believe that the whole problem is the low popularity of cryptocurrency and the huge impact of the situation with the fall of the cryptocurrency market in 2017 on public opinion.

[Zemomtum]

One of the reason might be they have a good economy that makes them not too bothered about any new digital currency. Most countries that are adopting cryptocurrency have been affected by high inflation and they are using it as a save heaven.

[X-ray]

One of the reason might be they have a good economy that makes them not too bothered about any new digital currency. Most countries that are adopting cryptocurrency have been affected by high inflation and they are using it as a save heaven.

Quite the opposite in my opinion, country with good economy usually makes their citizens have a chance into investing some portion of their earning to invest in stock or crypto unlike a relatively backward economy. The fact that so small minority of american own bitcoin is probably due to being ignorant with the existence of bitcoin although I agree that people from US could easily overlook bitcoin.

[Aurora Castro]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

Not the entire population could be in the world of cryptos, because there are very few people who decide to risk something totally different. They prefer to continue in their comfort zone, with a minimum, but safe salary. And for that, they fear this world. I remember that when they first spoke to me about cryptos, it was a bit complicated for my understanding, and especially for believing. But I was tired of following the same system, I was exploited in my work and what I earned was enough for what was necessary and that's why I decided to know all this more thoroughly. to have different results you have to do different things.

[iamsheikhadil]

I think it's because of the super strict laws of the US against crypto and Bitcoin in general. It's quite sad to know how the citizens of them are losing so much of potential and blockchain would have brought much transparency which I don't think the US agencies like

[Reatim]

it is not important on how much percent is having bitcoin since for 10 years of operation?that margin is good enough to say that we are really in progress.

for me what is important is How many People have already knowledge about Bitcoin and crypto currency?because this is what we need to develop more.

these people are just waiting for them to be encourage more before investing and trusting cypto so if we are really concern about our market and community here?we must help to spread the usage and advantage of this currencies and we will see in future the more users and holders of this.

[EdvinZ]

I think that mostly Americans use Bitcoin as an investment asset, not as a means for everyday payments. The Bitcoin exchange rate is very unstable, so it is logical that people prefer to pay for goods and services with traditional money, the rate of which is stable.

[Aying]

It is not that big problem if it is only 6.2 percent of american's use bitcoin or crypto, a lot of american's struggle of using it and some of them making a way to less the taxation and spread crypto to their country, so in time will come the price will be higher and the popularity will spread. so what do you think OP is there a problem when this happens?

[Devawnm367]

I think maybe throughout the world 6.2% but other then my family and friends here in the United States I introduced bitcoin to noone I know invests in BTC.

Hell most friends I have talked about btc with have all said they would like to physically hold their money. Most people i know believe it is a scam!!! In my eyes its no diffrent from credit cards or debit cards. I personally just like BTC more!

[akirasendo17]

I think a lot of people own bitcoin in america before 2017, i have heard news some use it to pay ice cream and some who accept it in their place but since 2017, i think they sold their bitcoins
during bullrun year since they need money, maybe they think they needed the money in their daily lives , at the same time as we know china has the most miners in the world so probably
thats the other reasons,

[drlukacs]

This is completely normal because Americans are restricting their services too much to the crypto market. You can see a lot of exchanges have banned Americans from using, mostly Chinese exchanges. Americans seem to only use Coinbase as the main and a few other small exchanges. That's why few Americans own Bitcoin and most are Chinese and Russians. The government in China doesn't work hard for crypto businesses, so they have a good foundation to grow.

[red4slash]

This is completely normal because Americans are restricting their services too much to the crypto market. You can see a lot of exchanges have banned Americans from using, mostly Chinese exchanges. Americans seem to only use Coinbase as the main and a few other small exchanges. That's why few Americans own Bitcoin and most are Chinese and Russians. The government in China doesn't work hard for crypto businesses, so they have a good foundation to grow.

in that large amount is actually quite good in the data and that too we have to look at the population there as well, because in my area not much is known with certainty crypto user data. I think the development of crypto is still quite young, by getting that many users in America I think it's normal and it's good enough. Yes, it is important that user growth continues to increase over time.

[aamirsuh]

Bitcoin is becoming more and more common. But there are a lot of people who don't know Bitcoin. It's unreasonable to think that all of these people would buy bitcoins. I don't think that's gonna happen. However, more investors can enter the market than today's investors.

[msarro]

In my view 6.2 is not a bad percentage. There are countries where less than 1% people even know bitcoin and other cryptos. Reason for low ownership and awareness regarding bitcoin is because not everyone can understand this new technology easily.

[Leviathan.007]

That's clear
Because bitcoin is banned in America and known for dark stuff

[bettercrypto]

It's simple, and there are some reasons, but I'll make short

BTC is not so easy to pay to use like a credit card for example, it require a few steps, but not so easy for people who are't into technology
BTC is in the hands of the most rich in US, people with high amounts of money and coins, it's not for the poor

Agree!
One reason also is the trust that crypto and bitcoin built from them. I think many Americans are also scammed and they think generally that all cryptos are bad even in bitcoin. But I think almost all Americans are aware of bitcoin price and they know that it is really high. And mostly americans are rich. That's why they are in first world country.

[secone]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

i can't guarantee the data research from tronweekly is trusted
i get another research result 81% of Americans are familiar with at least one type of cryptocurrency, i think arround 30%+ people in american own bitcoin
source : https://today.yougov.com/topics/finance/articles-reports/2019/09/24/cryptocurrency-bitcoin-americans-millennials-poll

and another trusted research from coinbase and coindesk
Currently, 58 percent of Americans say they’ve heard of Bitcoin.
https://blog.coinbase.com/the-united-states-of-crypto-55282c97855c

Survey: Nearly 80% of Americans Have Heard of Bitcoin (2018)
https://www.coindesk.com/survey-nearly-80-of-americans-have-heard-of-bitcoin

[veleten]

I would not trust such a poll since it is most likely to be very skewed and not representative enough
there were polls that quoted 14% , 12% and so on , they do it this way - poll a number of people , say 1000 and extrapolate it on the whole populace
they simply cannot afford or have enough manpower to question millions of people , so they are trying to show their polls as a good representation of every class, gender , occupation etc.
and if you asked 10 doctors , 10 cab drivers , 10 engineers and so on , doesn't mean that the next 1000 of them will posses bitcoins ( or not)
6.2% figure is rather huge , I don't understand why ONLy , it is , probably , 3-4 times lower than that
6% is roughly 20+ million of people who own bitcoin , you seriously think that this is right?
I'd estimate it as 3-4 million at most  , but again , I'm speculating but my guess is the same educated guess as the polling agencies do , I asked a dozen of my  friends from  the US and only one of them owned bitcoins , so go figure

[shield132]

At first I want to say that we don't depend on America to see the adoption of bitcoin, no, it will be their problem if they don't take care of it. According to survey published by Spencer Bogart, 11% of Americans own bitcoin. It's not small number and we have to consider that bitcoin is 11 years old currency, for this period of time it's even highly adopted.
When we talk around that numbers, we don't have to forget that quality over quantity matters and this, another fact that's sad in reality: In 2007 the richest 1% of the American population owned 35% of the country's total wealth. <-- This need to be fixed, not number of Americans who own bitcoin as for now.

[kro55]

It was 2017 when bitcoin came into spot light, before that it was dry period in terms of bitcoin adoption. This 6.2% adoption is span over a period of 3 years and I am sure this adoption will increase with passage of time. There are countries where Bitcoin adoption is more than USA like in Japan, South Korea, Switzerland, and Slovenia.

[darewaller]

Uuhm, I would still say that’s a good number. You should compare this number to what we have for gold and silver, you will see that there is much adoption bitcoin, though it’s not more than that of gold and silver, but for an asset that was just created in the last ten years I would say that the adoption is really fast to have gotten to this extent. It’s not going to end here because I know that as time goes on the rate for adoption will keep on increasing and more people will adopt.

The most important thing is trying to figure out what’s causing people not to have interest in it, like volatility, I believe if that’s sorted out a lot of people will go for it.

[X-ray]

It was 2017 when bitcoin came into spot light, before that it was dry period in terms of bitcoin adoption. This 6.2% adoption is span over a period of 3 years and I am sure this adoption will increase with passage of time. There are countries where Bitcoin adoption is more than USA like in Japan, South Korea, Switzerland, and Slovenia.

Asian countries are ahead of other developed countries nowadays when it comes to something groundbreaking like cryptocurrency and instead of being ignorant and afraid they are trying to understand what it is and what benefits it can get. Not surprised that only small minority of US citizen actually get hold of bitcoin while the rest of them just know Apple pay.

[red4slash]

It was 2017 when bitcoin came into spot light, before that it was dry period in terms of bitcoin adoption. This 6.2% adoption is span over a period of 3 years and I am sure this adoption will increase with passage of time. There are countries where Bitcoin adoption is more than USA like in Japan, South Korea, Switzerland, and Slovenia.

Asian countries are ahead of other developed countries nowadays when it comes to something groundbreaking like cryptocurrency and instead of being ignorant and afraid they are trying to understand what it is and what benefits it can get. Not surprised that only small minority of US citizen actually get hold of bitcoin while the rest of them just know Apple pay.

but actually you don't have to compare like this, because the level of curiosity of someone is not from the region but rather to the person himself. plus income in the US is quite large and I think for them to buy bitcoin is very easy, but of course they have a reason not to use it and for me the current amount is good enough that important users are increasing.

[asus09]

United State government not allowed using bitcoin as legal currency payment and have little population in United State use bitcoin as legal currency payment and investment assets, I think when bitcoin have been legal currency payment maybe population of United State citizen using bitcoin will increase from 6,2% become more than 10% of citizen in United State.

[Youghoor]

People should understand that Bitcoin is not for everybody. A lot of people living in US find it difficult to accept the nature of Bitcoin as a financial means of making transactions or storing fiat digitally. People see the tendency of them losing their money in the form of bitcoin easily compared to the existing online payment platforms.  Personally, I think the above reasons are why 6.2% of US citizens own Bitcoin.

[OROBTC]

...

6.2% seems way too high a percentage of Americans who own Bitcoin (to me).

Owning BTC requires a certain reasonable minimum of computer competence as well as the gumption to dive into a fairly complex (and somewhat risky) financial arena.  And it is not easy enough for the masses to get and use.  Nor are there enough merchants who accept payment in BTC (though you can buy gold from at least four precious metals suppliers).

I only know TWO people personally who have BTC.  Maybe because I am older than most here that my view is skewed, but 1/16 (~6%) of the population of the USA owning BTC seems too high a number.

[contraband]

Sorry, there is not 20 million people in the USA owning Bitcoin or other digital assets. A Generous estimation would be 1.1% which is 3.85 million people and even that still seems high. Perhaps even .5% could be more accurate.
Bitcoin is still seen as an ultra risky asset and largely not understood by a population who barely understand the difference between a web browser and google search.  No way does 20 million people own this yet. Perhaps not even worldwide. I could be wrong there but I don't see any evidence of that yet.

Exactly

And if the above quote is correct, which I 100% believe it is, then where will be be when something like 25% own it? What will cryptos marketcap be then?

The big jump hasnt happened yet.

Quarter million to 1 million BTC is mathematically in the cards

[chaoscoinz]

I think that it is because their isn't any major promotion being done by any prominent enough figures. On top of that, people just flat out are unaware of Bitcoin. Only those who frequent the world wide web (internet) and are tech enthusiasts (in one way, shape or form). My mother or grandmother doesn't have a clue what cryptocurrency is nor have they heard of it, say maybe a short news clip on tv that nobody really pays much attention to. Many aren't aware of Bitcoins existence and unless its backed by celebrities & politicians most wont bother touching it being that their fiat works just fine for them.

[rodskee]

According to this article , only 6.2% of a highly developed country like the US of America own Bitcoin , which seems unreasonable among the crypto community who rely on the Americans for Bitcoin to be mass adopted quite fast around the world. Here is the link of the news:
 https://www.tronweekly.com/bitcoin-advisory-founder-shares-research-that-shows-6-2-percent-of-american-citizens-own-bitcoin/

well maybe 6.2 in america but what about other part of the world?like europe and asia?and now african countries and other continents are getting entered crypto world?and besides AMERICA dont speaks for the whole world so no matter if how little the americans uses or hold bitcoins what is important is how much Bitcoin they owned?what if those 6.2 represent the 30-40% of bitcoin holds in the world?so it was not bad after all right?

[Linkkoin]

I think that it is because their isn't any major promotion being done by any prominent enough figures. Many aren't aware of Bitcoins existence and unless its backed by celebrities & politicians most wont bother touching it being that their fiat works just fine for them.

Promoting BTC and cryptocurrencies is very problematic, many advertising companies either have an explicit ban on cryptocurrencies in general (next to pornography or gambling) or meeting such requirements which cannot be met by most of the companies.

[senne]

Bitcoin is indeed pretty famous and popular in USA of all the countries but the acceptance rate is pretty low all around the world. The global average is far less than the 6.2% of the USA's. So in a way for the developing currency like Bitcoin, 6.2 is a pretty decent percentage.

I guess the percentage is pretty high in some Asian countries where the utility is high as well. Where vendors are actually accepting Bitcoin and people are using it for more than just trading purpose.

[Twentyonepaylots]

I think that it is because their isn't any major promotion being done by any prominent enough figures. On top of that, people just flat out are unaware of Bitcoin. Only those who frequent the world wide web (internet) and are tech enthusiasts (in one way, shape or form). My mother or grandmother doesn't have a clue what cryptocurrency is nor have they heard of it, say maybe a short news clip on tv that nobody really pays much attention to. Many aren't aware of Bitcoins existence and unless its backed by celebrities & politicians most wont bother touching it being that their fiat works just fine for them.

Biggest factor about this small number is the lack of knowledge regarding bitcoin and/or cryptocurrencies. Another will be the general panic that bitcoin underlies, people are still scared to invest on bitcoin. Third and this could be related to the second reason, elderlies, particularly boomers are reluctant in investing to bitcoin, this creates a domino effect which then disallows bitcoin to get into its target audiences.

[arimamib]

I think that it is because their isn't any major promotion being done by any prominent enough figures. On top of that, people just flat out are unaware of Bitcoin. Only those who frequent the world wide web (internet) and are tech enthusiasts (in one way, shape or form). My mother or grandmother doesn't have a clue what cryptocurrency is nor have they heard of it, say maybe a short news clip on tv that nobody really pays much attention to. Many aren't aware of Bitcoins existence and unless its backed by celebrities & politicians most wont bother touching it being that their fiat works just fine for them.

Biggest factor about this small number is the lack of knowledge regarding bitcoin and/or cryptocurrencies. Another will be the general panic that bitcoin underlies, people are still scared to invest on bitcoin. Third and this could be related to the second reason, elderlies, particularly boomers are reluctant in investing to bitcoin, this creates a domino effect which then disallows bitcoin to get into its target audiences.

I rather think it happened because of the lack of knowledge from the people there to use bitcoin, so if compared to their monthly income I think they will be able to buy bitcoin but maybe they don't know to buy and invest in it therefore they don't have many users there .

[tvplus006]

Bitcoin is becoming more and more common. But there are a lot of people who don't know Bitcoin. It's unreasonable to think that all of these people would buy bitcoins. I don't think that's gonna happen. However, more investors can enter the market than today's investors.

I also think so, that the usual knowledge about BTC is not enough. Although most people have heard about bitcoin, they do not know what its advantage is over the dollar. In addition, there is still a difficulty for many to make a payment, because it does not work like a credit card.

[ice098]

Bitcoin is becoming more and more common. But there are a lot of people who don't know Bitcoin. It's unreasonable to think that all of these people would buy bitcoins. I don't think that's gonna happen. However, more investors can enter the market than today's investors.

I also think so, that the usual knowledge about BTC is not enough. Although most people have heard about bitcoin, they do not know what its advantage is over the dollar. In addition, there is still a difficulty for many to make a payment, because it does not work like a credit card.

For me 6.2% only of American are using bitcoin because they dont need it and also the crypto world. Wanna know why? Its because they are one of the most progressive and rich countries all over the world and each of their citizens earn a lot of money because of their high valued dollars. Believe it or not even the maids and gasoline boys  on US are rich because of their good salary and because of that I dont think many of them will prefer trading here in the crypto world.

[johnwest]

6.2% is a great percentage if you compare it with other countries like India. I dont think there is even 1% of the population is into crypto. Its hard to educate people the advantages of crypto and what it will do to the society in the future. I think the Americans are fortunate enough to have all the technologies first hand and we may see more people into crypto after an ETF.

[Leviathan.007]

I believe must of the bitcoin whales are american. that 6.2 percent is not a little number.

[huige007]

I believe that people who rely more on Bitcoin are the less developed countries whose inhabitants find ways to survive and thus see Bitcoin as a heaven-built avenue. Therefore, they are struggling to turn their little fiat into bitcoin to exchange or hold fast-growing expectations. Countries like the U.S. with a good economic base won't have too many people dependent on keeping bitcoin, the government has taken care of the basic needs like employment.

That is very true, bitcoin is getting popular and familiarize in the areas where people are not financially much stable. Usually the young generation and students find this market interesting to work. They use it as a mean to earn for their daily living. On the other hand in developed countries people have multiple opportunities for earning.

[Swordsoffreedom]

In the USA, it was 0% in 2009 and in 2019 its 6.2%. The beauty of bitcoin is that it’s not only limited to one country rather its distributed globally. Today we have bitcoin adoption in regions where there are no banks or people are out of banking system due to different reasons. If you see global adoption of bitcoin, it is very much at satisfactory level.

[puertorikosena]

These numbers are true. Indeed, most people have not heard at all that cryptocurrencies exist and what bitcoin is. But it seems to me that in a few years the situation will change dramatically in favor of cryptocurrencies.

[bitbunnny]

I think that such low percentage of people who owe Bitcoin is not specific for US only. Similar situation is in most countries and realativley small number of people in world is using Bitcoin because many people are not familiar with Bitcoin or cryptocurrencies in general at all. That might sound incredible to people from Bitcoin community who maybe have the feeling that everyone is using Bitcoin but that is reality.
What we need is much better promotion and education about cryptocurrencies, we need to encourage people to use crypto and to trust it. That is not a case now, at least not for majority.

[tvplus006]

I think that such low percentage of people who owe Bitcoin is not specific for US only. Similar situation is in most countries and realativley small number of people in world is using Bitcoin because many people are not familiar with Bitcoin or cryptocurrencies in general at all. That might sound incredible to people from Bitcoin community who maybe have the feeling that everyone is using Bitcoin but that is reality.
What we need is much better promotion and education about cryptocurrencies, we need to encourage people to use crypto and to trust it. That is not a case now, at least not for majority.

I've previously shared my thought that Satoshi didn't think this through in Whitepaper. After all, it was possible to make a certain percentage of each block go to the account of a specially created center. And this center was engaged in promoting bitcoin among the population. Then we would have now not 6.2 percent, but all 100.

[TheYankeesWin!]

That's clear
Because bitcoin is banned in America and known for dark stuff

It is not banned in America

and 6.2 percent of 300 million is around 18.6 million owners of bitcoin.

A lot of Americans don't own Apple Stock
A lot of Americans don't own Microsoft Stock

[philipma1957]

I think that such low percentage of people who owe Bitcoin is not specific for US only. Similar situation is in most countries and realativley small number of people in world is using Bitcoin because many people are not familiar with Bitcoin or cryptocurrencies in general at all. That might sound incredible to people from Bitcoin community who maybe have the feeling that everyone is using Bitcoin but that is reality.
What we need is much better promotion and education about cryptocurrencies, we need to encourage people to use crypto and to trust it. That is not a case now, at least not for majority.

I've previously shared my thought that Satoshi didn't think this through in Whitepaper. After all, it was possible to make a certain percentage of each block go to the account of a specially created center. And this center was engaged in promoting bitcoin among the population. Then we would have now not 6.2 percent, but all 100.

An interesting idea.  I think the issue of 6.2 percent is not the problem.  USA has made some difficult tax laws regarding bitcoin.

They handicapped it after 2017.  That big run-up scared some old school rich guys so they made restrictive tax rulings for 2018 and on.

BTC  does not work  for the little guy in the USA with the new rules.

It is okay for wealthy people  as you can safely stash 5 wallets  with 10 BTC in each and if you need to leave America you have  some wealth to access.

Every sale or use in the USA of BTC is tax reportable.  So it can be a hassle to use it.

Ie if I sell 50 items and buy 50 items a year in the marketplace here.  That is 100 reportable events and it creates a lot of paperwork.

Worse  coin to coin trades are reportable  if I do 5 trades a day  that is 1825 reportable events.  Plus if I trade 1 btc for 150 ltc on some exchanges it will micro report the trade.  so that single order  may take 300 ½ ltc moves to do  which means even though I did 1 trade  of btc to ltc it will need 300 entries each one will need to be calculated for possible capital gains. This is a fucking killer for a day trader in the usa.

[darkangel11]

In the USA, it was 0% in 2009 and in 2019 its 6.2%. The beauty of bitcoin is that it’s not only limited to one country rather its distributed globally. Today we have bitcoin adoption in regions where there are no banks or people are out of banking system due to different reasons. If you see global adoption of bitcoin, it is very much at satisfactory level.

If only there was even 1% of people worldwide we'd be in some crazy world where Bitcoin is valued at 100k USD or more. 6% is a very good number. Most fiat currencies don't have 6% of use worldwide, so just think about this in a broader spectrum.
I don't know why everybody likes to give the US as an example when the country is in fact behind on crypto adoption especially compared to Japan, South Korea, Hong Kong, Estonia, Malta and many others.

[Yatsan]

That's clear
Because bitcoin is banned in America and known for dark stuff

It is not banned in America

and 6.2 percent of 300 million is around 18.6 million owners of bitcoin.

A lot of Americans don't own Apple Stock
A lot of Americans don't own Microsoft Stock

Imagine, we have a growing community of bitcoin and cryptocurrency enthusiasts, we have more than 2million members here on our forum, and having 18.6 million of american using bitcoin in their own way is quite too big already. What if we consider the other country? This is what cryptocurrency is comprised of, a million people leading to huge demand of bitcoin and cryptocurrency, that is why we could expect possible growth for years, and we should consider understanding its value because I believe that too soon, bitcoin could be widely accepted in countries that banned it, as we emerge the world where unity is what we need.