Bitcoin is More Popular Than Traditional Banks

[hahay]

I personally am not sure to say about the popularity of bitcoin beating traditional banks, because if bitcoin has become really popular I am sure there have been many uses of bitcoin in real life for any transactions, but the fact is not even so and I think millennials prefer to use digital fiat for any digital transaction that exists today. But whatever the data and surveys, I just believe that the popularity of bitcoin is continuing to increase, but it hasn't overtaken the popularity of traditional banks because I think that to beat the traditional banks still requires more time.

[1714942072]

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[1714942072]

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[LbtalkL]

Of course it is, because if you think carefully there are banks that are just exclusive one country because of that some traditional banks does not get news out of the country frequently while we are getting bitcoin news across different countries because bitcoin has no based, it has no central office, server or something, it is everywhere. Bitcoin has a lot of advantages over banks.

[daneal stev]

I have come across this poll and many other surveys inside some of the sites and that these surveys are correct and this is exactly what happens as a lot of people become dependent on bitcoin much more than relying on traditional paper banks and I think that this credit will continue during the coming years as dependence on cryptocurrencies will become More than 80% because it is more comfortable in transferring money, completing transactions and many other things

[Leviathan.007]

It's getting populated between people time after time. But, I disagree with you saying Bitcoin is more populated traditional banks. There is a long way to go for Bitcoin and the crypto currencies. Considering there are still many people they won't have any idea about the Bitcoin technology and there are also many people they can't trust Bitcoin as a real currency. In the other hand, Technology growth rate and the Bitcoin's growth rate is real high and it's better even higher. That's why I think, just after a few years we will see Bitcoin as officially the most populated currency in the world.

[Betwrong]

~
Here is the complete survey result for those looking for more details (@OP didn't post anything) Very long page to read by the way
https://thetokenist.io/bitcoin-survey-2017-vs-2020/

Participants are from 17 countries (not any particular) and come from a survey network mainly and their email list. @OP forgot to say the confidence in Bitcoin dropped for some age groups (senior people for example).

(IIRC, this survey network rewards people to take their surveys so people answer the questions the way to make the network happy to be sure to get the money and to not be rejected in the middle of the survey)

Interesting results, definitely worth a look! Undoubtedly an enjoyable read for Bitcoin enthusiasts. Maybe at some point in the future(I sure hope so) the following will be true for the general public:

Over 45% of respondents would prefer to own Bitcoin over stocks, real estate and gold ...

60% of respondents felt that Bitcoin is a positive innovation in financial technology ...

47% of respondents trust Bitcoin over big banks ...

But for now I think we are far from it. After examining the methodology of the survey we can see that the respondents were not picked up randomly, but rather were the people more or less familiar with crypto and BTC, in particular. I think if a broader audience were interviewed, we'd see completely different results, much less pleasing ones. I'd be glad if I was wrong.

[hatshepsut93]

Of course the article is sensationalized and probably to some degree misleading, but overall it shouldn't be surprising that young people trust Bitcoin more, as it's a combination of being more open towards new technologies and distrust towards banks as the events of 2008 crisis deeply affected the younger generations. But despite that, Bitcoin adoption even among millenials isn't high, which likely means that the distrust towards banks hasn't reached some sort of critical level yet.

[NavI_027]

Bitcoin is still growing it is not popular as traditional Bank...

Indeed, not yet so popular so far. But I believe it will be more popular in the future as our generation gets better and better. The technology becomes higher and far from the traditional living .

Anyway, I give the benefit of the doubt on the survey conducted which is mentioned by OP, but I think using the word "more popular" is the right term. Much appropriate to say "more trusted" (I just based on the conclusion).

[GDragon]

~
Here is the complete survey result for those looking for more details (@OP didn't post anything) Very long page to read by the way
https://thetokenist.io/bitcoin-survey-2017-vs-2020/

Participants are from 17 countries (not any particular) and come from a survey network mainly and their email list. @OP forgot to say the confidence in Bitcoin dropped for some age groups (senior people for example).

(IIRC, this survey network rewards people to take their surveys so people answer the questions the way to make the network happy to be sure to get the money and to not be rejected in the middle of the survey)

Interesting results, definitely worth a look! Undoubtedly an enjoyable read for Bitcoin enthusiasts. Maybe at some point in the future(I sure hope so) the following will be true for the general public:

Over 45% of respondents would prefer to own Bitcoin over stocks, real estate and gold ...

60% of respondents felt that Bitcoin is a positive innovation in financial technology ...

47% of respondents trust Bitcoin over big banks ...

But for now I think we are far from it. After examining the methodology of the survey we can see that the respondents were not picked up randomly, but rather were the people more or less familiar with crypto and BTC, in particular. I think if a broader audience were interviewed, we'd see completely different results, much less pleasing ones. I'd be glad if I was wrong.

It probably is much less pleasing ones, cause if it isn't, maybe we don't really need that survey in the first place, or we will be not this surprised with the result of this. And honestly, we all know how other people see btc. We can feel it from our friends and etc, it has this image of being used illegally, or something connected to scamming and so on. We are really that far in making it known as a currency to other people. And honestly even us who are into this technology are still much comfortable using traditional banks as of now, because the society I live in still prefers traditional banks. We won't live by btc only as of now.

[witcher_sense]

Bitcoin is more popular than traditional banks. "Popular" from Latin "populus" which means "people". Bitcoin was created to serve people who don't have access to banks or don't wish to use them. Banks are not for people anymore, they have become just business selling financial products to elite, privileged persons. Bitcoin is different, it is not a company, it is not a corporation, it is not a business offering products based on out-of-thin-air money. With bitcoin people are getting their financial sovereignty back. With bitcoin underbanked and unbanked people can access financial system. Bitcoin is more popular, because it can be used by everyone, not just elite.

[CryptopreneurBrainboss]

Probably you're using the global awareness of bitcoin to compare with each local bank in a geographical area because I see no reason why one would think, bitcoin is popular than the local banks. They have more customers than bitcoin, they're widely used for daily transaction etc. Bitcoin awareness is getting widen as the days goes by and it's online awareness is increasing drastically but when compared with the local banks, I believe it still has a long way to go.

If you're basing your comparison on the level of online presence both institution has then it would be understandable since most local banks don't have online presence as they're more interested in fulfiling the locals needs.

[michellee]

Bitcoin is still growing it is not popular as traditional Bank... All most all are using banking system but so many doesn't know about Bitcoin still.. I wish it becomes popular as bank in future but at present traditional banks are popular.

I am sure with the adoption that is happening in every country, that can help bitcoin to become popular as the traditional banks. But to go to that way, we need to introduce bitcoin to many people so that they will know the existence of bitcoin among them. And the important thing is they can know that bitcoin has the option to be used, which is they can use bitcoin as the payment method, and bitcoin can be used for the investment in the long term. I am sure people will have an interest in bitcoin if we can teach them, and they can search for themselves.

[Lasky366]

Pretty interesting topic. I think people wants thing even more easier or they might want to control their money whatever they want since bitcoin is dcentralize & its process is more speedy than our traditional banking system so that's why might get more popular than tradionality.Even though  personally I still prefer Traditional banks.

[Negotiation]

Bitcoin is a very popular currency and once one uses it properly one will never think of giving up using Bitcoin Bitcoin is very popular in the case of crypto but Fiat currency is more prevalent in the case of banks. Bitcoin can never be replaced without Fiat However, if Bitcoin like the Fiat currency is supported by the government then banks will start circulating Bitcoin currency and it will gradually become popular in the world.

[Betwrong]

~
Here is the complete survey result for those looking for more details (@OP didn't post anything) Very long page to read by the way
https://thetokenist.io/bitcoin-survey-2017-vs-2020/

Participants are from 17 countries (not any particular) and come from a survey network mainly and their email list. @OP forgot to say the confidence in Bitcoin dropped for some age groups (senior people for example).

(IIRC, this survey network rewards people to take their surveys so people answer the questions the way to make the network happy to be sure to get the money and to not be rejected in the middle of the survey)

Interesting results, definitely worth a look! Undoubtedly an enjoyable read for Bitcoin enthusiasts. Maybe at some point in the future(I sure hope so) the following will be true for the general public:

Over 45% of respondents would prefer to own Bitcoin over stocks, real estate and gold ...

60% of respondents felt that Bitcoin is a positive innovation in financial technology ...

47% of respondents trust Bitcoin over big banks ...

But for now I think we are far from it. After examining the methodology of the survey we can see that the respondents were not picked up randomly, but rather were the people more or less familiar with crypto and BTC, in particular. I think if a broader audience were interviewed, we'd see completely different results, much less pleasing ones. I'd be glad if I was wrong.

It probably is much less pleasing ones, cause if it isn't, maybe we don't really need that survey in the first place, or we will be not this surprised with the result of this. And honestly, we all know how other people see btc. We can feel it from our friends and etc, it has this image of being used illegally, or something connected to scamming and so on. We are really that far in making it known as a currency to other people. And honestly even us who are into this technology are still much comfortable using traditional banks as of now, because the society I live in still prefers traditional banks. We won't live by btc only as of now.

Yep. Most people I talk to, think Bitcoin is a pyramid scheme. I can't blame them much cos indeed it looks like one for those who are out of the loop. Notice that many ICO scammers promote their sh*tcoins using exactly the same words ppl use describing Bitcoin. So, yeah, it's a tough call for a layman.

[jhonjhon]

I can say that Traditional banks still popular just because the majority of people are still using FIAT money. However, the growing market and adoption to crypto will somewhat a threat in the future but of course, it wasn't an instant work, it takes years and the giving a chance for the banking system to adopt the system and use blockchain technology. But even though it comes to this moment, I'd never think that it will be the reason to eliminate banks, they will still exist.

[Sanugarid]

Bitcoin is more popular than traditional banks. "Popular" from Latin "populus" which means "people". Bitcoin was created to serve people who don't have access to banks or don't wish to use them. Banks are not for people anymore, they have become just business selling financial products to elite, privileged persons.

How do we measure the popularity of a certain thing? If we say that bitcoin is more popular than traditional then we should have a incredibly higher price for bitcoin. Banks, different banks have different number of users, in 2017 a study shows that there are 1.2 billion people that has a bank account, so what about bitcoin? how can we know the number of users in bitcoin if we are pseudonymous? you can't just count the addresses in the entirety of blockchain.

Bitcoin is different, it is not a company, it is not a corporation, it is not a business offering products based on out-of-thin-air money. With bitcoin people are getting their financial sovereignty back. With bitcoin underbanked and unbanked people can access financial system. Bitcoin is more popular, because it can be used by everyone, not just elite.

Bitcoin isn't as popular as banks, did you know that most of the Americans still don't know what the bitcoin is? I see where you are rooting to, you just being surrounded with crypto that's why you say that it is more popular.

[Slow death]

According to the cyber media Tokenist, based on the results of their survey not long ago. The survey involved 4,852 respondents from 17 countries. According to the survey the number of people who trust Bitcoin more than large banks, increased by 29 percent in the last three years.

who did the survey was not an independent identity and the numbers of people who participated in the survey Is a small number of people... so I am not excited about the result of the research

The survey also showed differences in the generation's views about Bitcoin and traditional banks. 51 percent of millennials trust Bitcoin more than traditional banks.

In order to have a bank account it is necessary to deliver documents and banks must be accountable to governments and this means that if someone commits any crime easily the government can ask the bank to freeze that person's bank account. This is a disadvantage of the banks, but it also has an advantage, for example in the case of the person's death the bank contacts the beneficiary indicated by the owner of the bank account who died

In the case of bitcoin people are free, they don't have to be afraid of some government taking their bitcoin, but what if the person dies? how are bitcoins? this is the disadvantage of bitcoin

My opinion:

Rather than people making a comparison between bitcoin and banks, Why people don't use both and stop this comparison?

[Excell110]

To be frank, I think before Bitcoin becomes more popular and widely accepted, a little more push is needed because right now in my country, a lot of people have never heard about Bitcoin, like t alone knowing what it is.
 They are missing out on all its benefits as they keep depending on the inefficient banking system.
 Cryptocurrencies at large will become the next generation currency, but more work needs to be done in communicating its benefits.

[bearexin]

According to the cyber media Tokenist, based on the results of their survey not long ago. The survey involved 4,852 respondents from 17 countries. According to the survey the number of people who trust Bitcoin more than large banks, increased by 29 percent in the last three years. The survey also showed differences in the generation's views about Bitcoin and traditional banks. 51 percent of millennials trust Bitcoin more than traditional banks.

That’s the same thing with me right now, I’m starting to lose interest in traditional banks, digital banks are becoming the thing for me. Although in the world we are in now, I can’t stop making use of traditional banks, because there are always areas where they are very important to me. But, I have been putting a lot of money into digital banks as of lately and I have also been making use of Bitcoin and investing in it, including altcoins. I just make use of all of them. And one thing I like about digital banking and cryptocurrency is that I don’t have to worry about annoying charges.

The level of freedom people could enjoy with bitcoin must be the core reason it is getting more attention which might lead to make bitcoin more familiar than traditional banks among young generation of people. In next 10 to 20 years, I am sure all youngsters around 20 to 30 age group might have forgot about making use of traditional banks as they are effectively using bitcoins; just a speculation.

[Benefactor]

Yes it is true that bitcoin is more popular than conventional banks. And its popularity will continue to grow day by day. Conventional banks have their own set of rules that will force you to comply. On the upside, you don't have to worry too much about bitcoin. In the case of Bitcoin transactions, the hassle is much less. On the other hand, there are some formalities that you have to do to make money transactions in conventional banks. In all respects, Bitcoin is easier to use than conventional banks, so Bitcoin is more popular.