Bitcoin is More Popular Than Traditional Banks

[dentolas]

Can't say it was unexpected... I think banks have always been jugling around with people finances and become places of shady businesses... my idea is that general people have a bad oppinion about banks, and as people start to become more aware of bitcoin and it's possibilities, a definitive shift might happen...
although I find it difficult for people to trust their savings to bitcoin, mostly due to the uncertainty of regulations and volatility

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[bitcoinst]

Banks are the dominant financial system, they are hundreds of years old. Money rules the whole world, and banks print money.
These are the most popular structures in the world. With all the desire, bitcoin has had too little time since its creation for the emergence of full knowledge about it and its functions.
There can be no talk of complete trust until they began to use bitcoin everywhere using it not for speculation, but for replacing money.

[FlightyPouch]

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.

Millennials will be the future users of bitcoin, and I think it is great for them to be voting bitcoin against these large banks since we all know how hard it is to do something that they can't approve. Still, with that small sample size, I guess in the next results we could do more respondents. I know that is asking much but more sample size means more accuracy and better results.

[rexxarofmoknathal]

Joining the hype is way different than trusting Bitcoin by itself but possibly the reason behind this is one is the anonymity that Bitcoin can deliver to its users.

I must say that as much as I like how it sounds unfortunately I do not see Bitcoin more popular than banks. As per the comment above, hype is not the same as usage, people know about cryptocurrency but majority are still afraid of the unknown and instead of taking the risk to try it out they stick to the traditional banks.

What's even worse is that people think that crypto is only for money laundering and because of that myth they disregard it entirely. There are still so many wrong concepts out there about what cryptocurrency is that acts as a real barrier to adoption- we need to address that more!

[Sadlife]

Only 4852 people ? i guess that's not enough numbers to really determine the popularity and percentage of people who trust Bitcoins over Banks.
Atleast in my opinion a 100k respondents is really a convincing number.

[Janation]

Only 4852 people ? i guess that's not enough numbers to really determine the popularity and percentage of people who trust Bitcoins over Banks.
Atleast in my opinion a 100k respondents is really a convincing number.

Managing that would be really hard to be honest.

You need people from different countries to achieve that. We might be able to create spreadsheets and send it online for people to answer since we can't really go personally to people right now because of the pandemic. I guess right now that is a fine result and another thing is that it is said by the OP that Millenials vote over banks, which is the probable users of Bitcoin and other cryptocurrencies in the future.

[Debonaire217]

Bank have old of years and bitcoin just several years ago, how come bank not popular than bitcoin? but will give positive side when bitcoin have been legal payment transaction and become good competitor for bank how to make costumer most interested and funny using bitcoin as saving assets than have use bank to put their money.

OP doesn't really provide a discrete link or source where the news came from, perhaps, he is just hyping the trend of bitcoin and cryptocurrency in comparison to the traditional banks. But IMO, banks are still dominant since most of the payment options available doesn't include bitcoin yet, but this doesn't mean that bitcoin and crypto isn't doing well, maybe some companies don't incorporate bitcoin because of their target audience, honestly, bitcoin isn't developed yet mainly for people at age 40 and above as they need to learn how to use it.

[Assface16678]

Bitcoin become so prominent all over the world, we have so many users of bitcoin but I don't think that it is more popular than the traditional banks, there are so many people who still don't know things bout crypto world and they still keep on using the traditional banks, cryptocurrency is just alternative for fiat currency so, and fist currency is the standard currency that is in the traditional banks.

If you are going to compare between two, I think bitcoin is safer and faster transaction compared to traditional banks because it happens online, in terms of security you should use a hardware wallet to avoid attacks from hackers. An online wallet is not advisable for me because it is really prone to attacks.

[witcher_sense]

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.

To see potential of any new technology, you have to be surrounded by it, it is inevitable condition for understanding. I should have said bitcoin has all of the characteristics in order for it to potentially become more popular than traditional banks. I heard about most Americans are not aware about bitcoin still. However, if we are talking about popularity of banks, it may be surprising to us that dozens of millions of Americans have no access to banks either. For me, popularity is measured not through grade of awareness, because what is the point of knowing about anything if you still can't access. Given that bitcoin is an open system, which everyone can access to, it will be more popular than any closed centralized organization in the long-term, it is just a matter of time.

[buwaytress]

Only 4852 people ? i guess that's not enough numbers to really determine the popularity and percentage of people who trust Bitcoins over Banks.
Atleast in my opinion a 100k respondents is really a convincing number.

If you'd ever done any kind of statistics study, then you know it's not so much the size of the sample, but how you come to determine which population forms that sample. 100 or 100,000 people from this forum would likely give the same outcome, with differing majority. And you'd be wasting resources on using a sampling size bigger than what's necessary for any meaningful conclusion.

Of course, larger numbers give you better statistical reliability but to be fair, 4852 people is a hell lot of a better sample than many of the nonsense headline news that gets passed off as research in this forum.

[giammangiato]

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.

In my country now bitcoins are well known, obviously they do not know it 100%, but above all the new generation and some "elders", despite this we are still and I say unfortunately "still" clinging to vile money, and with the imposition of the the state makes increasingly massive use of payments and receives payments through banks. But I have good news, two months about one of our Italian banks gave the opportunity to buy and sell bitcoins, it was a real turning point in the banking world, the bank in question is called Hype of Banca Sella

[Lorence.xD]

Bitcoin become so prominent all over the world, we have so many users of bitcoin but I don't think that it is more popular than the traditional banks, there are so many people who still don't know things bout crypto world and they still keep on using the traditional banks, cryptocurrency is just alternative for fiat currency so, and fist currency is the standard currency that is in the traditional banks.

If you are going to compare between two, I think bitcoin is safer and faster transaction compared to traditional banks because it happens online, in terms of security you should use a hardware wallet to avoid attacks from hackers. An online wallet is not advisable for me because it is really prone to attacks.

I think the big reason that people are trusting people bitcoin or cryptocurrency in general more than banking institution is the fact that the latter has so many bureaucracy behind which means more paperwork, we also should mention that the bank has a very old fashion system and the only progressing system is their security, with more people being more open minded to oppurtunities meant that the ignorance that has been plaguing our generation is being slowly dispelled, if banking institution wants to survive the modern times then they should up their game because they are falling behind when it comes to progress, that also applies to our respective government.

[Botnake]

Whoever made the survey, I think we need to verify if they are legit or not.

Seriously? I thought only few knows about bitcoin, so probably those people who are ask are crypto enthusiast like us and has given their bias opinion.
Also, the figure is very small compared to the number of popular in the world, that doesn't say anything IMO.

Traditonal banks are more popular as there's no massive adoption on bitcoin yet.

[peterurb]

Bitcoin is extremely safe for sending money. The best things are extremely low international transaction fees which can be lower by Lightning Network, which is not affected by the amount of transaction. At the banks, you have to also wait until you can create your account, at BTC you can just create a private key.

So Bitcoin has so many positives.

[rodskee]

Bank have old of years and bitcoin just several years ago, how come bank not popular than bitcoin? but will give positive side when bitcoin have been legal payment transaction and become good competitor for bank how to make costumer most interested and funny using bitcoin as saving assets than have use bank to put their money.

Bank exist far more years than bitcoin and if we will based things from how people acknowledge the
usages, bank still supreme than bitcoin.
Though if bitcoin continue bringing great results from people who have a in hand experienced using
and investing with bitcoin.
Expect that it will gained more attentions and possible more users and investors plus those businesses
who will also adopt the system for their payment transactions,.

[supine]

It wouldn't be a surprised for me since I also have a huge trust on Bitcoin rather than the traditional banks.
I have some close friends who experience losing their money in their bank accounts while they are at home we all know that this could also happen in Bitcoin the only difference is we are in control on our Bitcoin we are responsible for our wallet unlike in banks.
I also hear so many stories that they lose some of their money because someone withdraw it while they are at home or working this is the reason why I don't trust the bank and I like Bitcoin when it comes to storing my savings.

[XCANA]

Well that's too hard to believe, many have heard about the technology but they haven't accepted the said technology as a means of adoption. Traditional Banks still have high rate of adoption from us compared to the digital currency, bitcoin is just a new technology that need more time to outgrown the existing one like the traditional Banks. Most citizens in US are not yet aware of Bitcoin existence, many other countries are strongly with the technology, so, the traditional Banks still lead.

[MCobian]

In the future, I am sure that bitcoin will be more popular than traditional banks, but for now, certainly traditional banks more popular.
Because traditional banks are still used by most of the world's population, especially the government strongly supports traditional banks.
So it is very difficult for bitcoin if now it wants to beat the popularity of traditional banks.

[concept2]

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.

Nice to hear this news but I dont think the situation is the same in my country where most of young people do not even know what bitcoin is and how the blockchain works. Only investors and people who really want to understand bitcoin have time to make research on this new technology. Laws are passed in order to prohibit bitcoin in payment and therefore, people dont want to involve in this kind of money. One day, I believe that bitcoin will be adopted in my country but it will be a long process

[Sanugarid]

Bank have old of years and bitcoin just several years ago, how come bank not popular than bitcoin? but will give positive side when bitcoin have been legal payment transaction and become good competitor for bank how to make costumer most interested and funny using bitcoin as saving assets than have use bank to put their money.

Bank exist far more years than bitcoin and if we will based things from how people acknowledge the
usages, bank still supreme than bitcoin.

I'm pro crypto but it is funny to me how we exagge things with crypto, I mean we already reach miles of our timeline, already conquer the initial challenges from the past but it come to the point that we are pushing it too much, aggressive approach if I could describe. Banks and Bitcoin? at first it was just a simple stuff to compare,we already know the differences between these two and we already know that bitcoin could not stand up with banks. We already know it yet we keep asking. Bitcoin has a different path, that's what I believe.