Why only 6.2 percent of American citizens own Bitcoin?

[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.

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[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.