Why only 6.2 percent of American citizens own Bitcoin?

[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.

[1714758740]

1714758740

[1714758740]

1714758740

[1714758740]

1714758740

[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.