[2020-07-02] New FCA Survey Confirms 2.6 Million Britons Have Dabbled in Bitcoin

[jdebunt]

The FCA survey indicates that most of the crypto asset holders are knowledgeable about Bitcoin and altcoins. This is also why they hold their coins, instead of flipping them. Cost-averaging is crucial when one wants to hold these assets. With the help of companies such as CoinCorner, that process becomes a lot easier.


https://cryptomode.com/new-fca-survey-confirms-2-6-million-britons-have-dabbled-in-bitcoin-and-other-crypto-assets/

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[gentlemand]

The real stats we need to see would be crypto related apps from the UK app stores. That's one of the few metrics that would give a real clue but even then there's a world of difference between a download becoming a buy.


"The Brexit has entered a new stage, which may explain a thing or two. Combined with the COVID-19 pandemic and its impact on personal finances, the choice for Bitcoin may have become a lot more appealing."

I think they've got that one arse backwards.

[kjlimo]

The real stats we need to see would be crypto related apps from the UK app stores. That's one of the few metrics that would give a real clue but even then there's a world of difference between a download becoming a buy.


"The Brexit has entered a new stage, which may explain a thing or two. Combined with the COVID-19 pandemic and its impact on personal finances, the choice for Bitcoin may have become a lot more appealing."

I think they've got that one arse backwards.

Respectively, I'm not sure I follow. I've been thinking Brexit and COVID would push utilization of bitcoin given that folks are looking to be more remote and contactless.

However, I think you may be thinking that if folks are "hurting," then their ability to "invest" in bitcoin may not be there... is that you're point?

All in all, I'm expecting this pandemic to have an increase in bitcoin usage... still slow and painful, but we're getting there!

[stompix]

https://www.fca.org.uk/publication/research/research-note-cryptoasset-consumer-research-2020.pdf

Hahaha
More people have heard about Libra than ethereum , shitcash or litecoin
But the sample is way too small, just a bit more than two thousand people, even so, the number ar likely far more accurate that those claiming 10% or 20% of the population owning cryptos.
What I find a bit weird is the amount, 75% owning less than £1,000,  and 5% now own at least one BTC, so the UK holds at least 2% of all the coins. 

[gentlemand]

Respectively, I'm not sure I follow. I've been thinking Brexit and COVID would push utilization of bitcoin given that folks are looking to be more remote and contactless.

However, I think you may be thinking that if folks are "hurting," then their ability to "invest" in bitcoin may not be there... is that you're point?

Yes. No one gives a shit about remote and contactless if they're starving to death. And everyone already has contactless cards that work just fine.

I don't expect the diseasiness to help Bitcoin's usage or adoption. There'll be many people who otherwise would've considered having a play who won't be inclined to due to necessity. It's not the end of the world but it's a hindrance.

[hv_]

https://www.fca.org.uk/publication/research/research-note-cryptoasset-consumer-research-2020.pdf

Hahaha
More people have heard about Libra than ethereum , shitcash or litecoin
But the sample is way too small, just a bit more than two thousand people, even so, the number ar likely far more accurate that those claiming 10% or 20% of the population owning cryptos.
What I find a bit weird is the amount, 75% owning less than £1,000,  and 5% now own at least one BTC, so the UK holds at least 2% of all the coins. 

Regulatory friendly clean scaling BSV seems to take over 

[lijian2019]

More Korean banks may want to start encryption business, and NH competitor KOOKMIN (KB bank) has registered a brand and trademark called kbdac with the Korea Intellectual Property Office. EBN said KB was "preparing to enter the crypto asset market in the future." Others are optimistic.

EBN quoted Park soo Yong, a blockchain expert at Sogang University and a professor of computer science,

"Naturally, the financial sector is now turning to [encryption] services. It shows how far the encryption industry has gone. This will help to expand the market size. "

[pixie85]

This looks more like an ad for CoinCorner than a legit article.

What I find a bit weird is the amount, 75% owning less than £1,000,  and 5% now own at least one BTC, so the UK holds at least 2% of all the coins. 

Maybe they meant 5% of those 2.6 million Britons hold 1BTC each. That would be 130 thousand Britons with 1 or more BTC so only 130 thousand BTC, which is clower to 1 than 2% but according to some sources who there might be less than 13 million coins in circulation as opposed to the official number of 17 million mined coins.

[Harlot]

Dollar-cost averaging might be one of the worst advise a crypto investment can promote for you to get into their business. DCAs might be effective in the stock market especially in blue chip companies that are sure to grow but DCAs is not very effective in the crypto market. For one we are in a volatile market meaning you can't just set a fixed period where you can buy and expect in the long run you will profit from it. The second one is also connected to the volatility, due to the market being unstable doing DCA will just make you sacrifice good opportunities on where Bitcoin has botttomed down or it is pumping, you aren't really maximizing your money in this kind of method.