41% of people globally say they trust Bitcoin over local currencies

[alpamar99]

this is a pretty fantastic number for me because indeed if we look at the flow that is happening they actually may not even know much about this but after being given an approach they are convinced that bitcoin is better than the system they use in their daily lives.
this is certainly a good thing and should be a reference because most of them who until now do not know their true bitcoin and are confused about where to start and the role in providing information must be moved even more because until now even in my country bitcoin is still become something taboo

[wxa7115]

Premise (a crowdsourced insights company) reported in a press release that 41% of respondents consider Bitcoin to be more reliable than their own local currencies.  

Principally due to the decentralized aspect of the blockchain tech. Wow! Are people realizing what decentralization is about and the garbage behind central banks and co? If that's the case, I'm quite surprised seeing all the low information voters.

The survey has interviewed 11 000 participants and is not closed yet. It started 2-3 months ago

26% of respondents said they would rather use Bitcoin than their local currency.

There must be a massive bias on that survey, after all someone that motivated to know know about the survey and vote is probably someone that is informed about the state of the economy and can see through the lies of the governments and trusts bitcoin, gold or silver more than fiat currencies.

If this study was made at random I am sure the majority of the people will still trust in fiat currencies, after all if the trust in bitcoin was so high and the trust in fiat so low I think the system would have collapsed already.

[uneng]

Being realistic, if that survey corresponded to the truth, bitcoin adoption would be in a much more expressive level than it actually is at this moment. It's not easy to make an accurate survey. Interviewers need to collect people's feedback from different social classes, from different areas (even inside a same country) and from different ages. Also, people need to be approached by interviewers to answer the survey, it can't be exclusively spontaneous , because if it is, the survey will be biased, as it will collect opinions only from people who have a primary interest for that matter.

[savetheFORUM]

Principally due to the decentralized aspect of the blockchain tech. Wow! Are people realizing what decentralization is about and the garbage behind central banks and co? If that's the case, I'm quite surprised seeing all the low information voters.

The survey has interviewed 11 000 participants and is not closed yet. It started 2-3 months ago

26% of respondents said they would rather use Bitcoin than their local currency.

Well, that’s good, but I don’t really use all these data as a way to decide what people would do. The data was gotten from 11,000 and you can’t use just 11,000 of internet users to decide what billions of others would do..

Anyways, it’s good, because the data at least shows us that there are people, many of them out there, that are ready to always choose bitcoin over the fiat currency and that’s really good.As time goes on many more people would always choose bitcoin. But from the data it could be seen that some not much of the people were ready to sell or exchange their BTC immediately for cash, and they would rather hold it.

[Quidat]

Being realistic, if that survey corresponded to the truth, bitcoin adoption would be in a much more expressive level than it actually is at this moment. It's not easy to make an accurate survey. Interviewers need to collect people's feedback from different social classes, from different areas (even inside a same country) and from different ages. Also, people need to be approached by interviewers to answer the survey, it can't be exclusively spontaneous , because if it is, the survey will be biased, as it will collect opinions only from people who have a primary interest for that matter.

Even numbers are just few considering on how big the population is but still its a good thing that we do ended up with those numbers.We are seeing that recognition is indeed really
moving on which basically means that awareness and exposure which did really increased compared on last years wayback. This proves out that it would be possibly
that those numbers will be showing off on larger scale which is really good to know that lots had really been trusting Bitcoin over local currencies.

[dupee419]

Statistics says it all, although it may not seem like half of the respondents really know anything about Bitcoin but the fact that 41% chose Bitcoin over local currencies is quite an outstanding number, I honestly was expecting lower than 41% but this is actually more than what I was thinking about. By the time comes, conducting another interview/survey in the next 5 years and we'll see a big difference in numbers from what it is by now and what it is in the future, I am assuming that more people will definitely rely on Bitcoin rather than fiat.

[Rengga Jati]

41% of people globally say they trust Bitcoin over local currencies

Wow, I ma little bit surprise with the percentage, it seems very high enough.
I wonder whether if people around the world can join the survey, not only about the communities' that are related to cryptocurrencies.
Btw, I am asking, in what cases they believe more to Bitcoin than local currencies?
As a currency?
As a digital commodity asset?
As investment?
As trading?
or As gambling?
Because maybe, they will have different concepts for each of these.

[ultrloa]

Statistics says it all, although it may not seem like half of the respondents really know anything about Bitcoin but the fact that 41% chose Bitcoin over local currencies is quite an outstanding number, I honestly was expecting lower than 41% but this is actually more than what I was thinking about. By the time comes, conducting another interview/survey in the next 5 years and we'll see a big difference in numbers from what it is by now and what it is in the future, I am assuming that more people will definitely rely on Bitcoin rather than fiat.

I don't know how they do the survey but actually I cannot feel that percentage prefer fiat over bitcoin since if I base it on my place I can really tell that fiat is still much preferred by majority and they trust this one over bitcoin since many don't know yet bitcoin and if some them knows they didn't know to you it or somehow they call it scam. But maybe it was preferred on other part of the world so I do hope the awareness of it will spread so that we can see a huge global adoption and it can really give a huge change to bitcoin.

[Ultegra134]

Statistics says it all, although it may not seem like half of the respondents really know anything about Bitcoin but the fact that 41% chose Bitcoin over local currencies is quite an outstanding number, I honestly was expecting lower than 41% but this is actually more than what I was thinking about. By the time comes, conducting another interview/survey in the next 5 years and we'll see a big difference in numbers from what it is by now and what it is in the future, I am assuming that more people will definitely rely on Bitcoin rather than fiat.

I don't know how they do the survey but actually I cannot feel that percentage prefer fiat over bitcoin since if I base it on my place I can really tell that fiat is still much preferred by majority and they trust this one over bitcoin since many don't know yet bitcoin and if some them knows they didn't know to you it or somehow they call it scam. But maybe it was preferred on other part of the world so I do hope the awareness of it will spread so that we can see a huge global adoption and it can really give a huge change to bitcoin.

I believe that the mass public doesn't acknowledge Bitcoin and cryptocurrencies in general. I don't believe that most people actually know what it is and how it works, thus, you cannot make such bold claims that the most traditional mean of currency is actually losing popularity by that degree. I'm pretty positive that this survey isn't accurate at all.

[Issa56]

Premise (a crowdsourced insights company) reported in a press release that 41% of respondents consider Bitcoin to be more reliable than their own local currencies. 

Those numbers actually seem pretty high to me. Many people don't even know enough about Bitcoin and cryptocurrencies in general, much less about their security or reliability. We still have a long way to go before people are comfortable with the concept of decentralized currencies, something they have never experienced before.

I think the rating is based on people that know about bitcoin already so I don't think the figure is high, I think they are rating base on people that have knowledge about bitcoin and fiat currency. There are lot's of people that know about bitcoin but they still prefer fiat currency to bitcon depending on choice and perception but to me I prefer bitcoin to fiat currency in all aspects.

I really agree with your point lot's of people don't really know anything about bitcoin, some people have not even heard about bitcoin before and some have heard but they don't understand it which is basically common in developing countries, but I believe with time almost everybody will get to know about bitcoin but it will definitely take time but gradually even people from developing countries will get to know more about bitcoin.

[SquirrelJulietGarden]

I think the result can be not correct because the overal adoption rate of Bitcoin is not too higher than 41%. So to say there are 41% of them have trust in Bitcoin is overestimation. It can be because of sample size and how they collect the survey. I understand from trust to really use Bitcoin is different and it is a point to support the 41% figure can be a correct number.

Anyway, it gives us a number and shows that people are increasing in their trust then adoption for Bitcoin. It will become another support for Bitcoin bull runs in the future. More demand, same supply, bull runs will be bigger.

[2double0]

Don't you think that this set of numbers is too small to consider being an opinion as conducted on a 'global scale'? A web portal needs to be set up to let a huge set of people take a survey about btc, that's how we can know about how much % of people even know about btc! We know that btc can be more reliable than local currencies but to know how many people think the same way, a global survey needs to be conducted and it will also need a very huge budget to do that, and we can't say whether all of them will provide honest answers in the survey or not.

[abderrazak belkhir]

Premise (a crowdsourced insights company) reported in a press release that 41% of respondents consider Bitcoin to be more reliable than their own local currencies. 

Those numbers actually seem pretty high to me. Many people don't even know enough about Bitcoin and cryptocurrencies in general, much less about their security or reliability. We still have a long way to go before people are comfortable with the concept of decentralized currencies, something they have never experienced before.

I agree and i believe there is something wrong in the article, bitcoin adoption still in very low levels especially in the 3rd world countries, people can even jailed for using bitcoin in some countries like egypt so its too early for this number

[AmoreJaz]

Premise (a crowdsourced insights company) reported in a press release that 41% of respondents consider Bitcoin to be more reliable than their own local currencies. 

Those numbers actually seem pretty high to me. Many people don't even know enough about Bitcoin and cryptocurrencies in general, much less about their security or reliability. We still have a long way to go before people are comfortable with the concept of decentralized currencies, something they have never experienced before.

I agree and i believe there is something wrong in the article, bitcoin adoption still in very low levels especially in the 3rd world countries, people can even jailed for using bitcoin in some countries like egypt so its too early for this number

i believe that 41% is really not true. global percentage? the sample size may not be sufficient to conclude this percentage, and the representatives for each country is not very well-represented. as we can see the adoption is increasing but when it comes to global percentage, it is still small.
anyway, if we based on this stats, i can understand if some people are truly trusting bitcoin especially for those people who are disappointed with their government.

[Poker Player]

Don't you think that this set of numbers is too small to consider being an opinion as conducted on a 'global scale'?

i believe that 41% is really not true. global percentage? the sample size may not be sufficient to conclude this percentage, and the representatives for each country is not very well-represented. as we can see the adoption is increasing but when it comes to global percentage, it is still small.

Surveys do that. They take a small number of people who supposedly might represent the rest of the population, and from there they extrapolate general conclusions.

That only serves to get an idea in certain cases but we can not say that it has a high degree of reliability, and if we look at this particular case, the company that makes the survey is heavily involved in the Bitcoin, therefore it is an interested party and it is not uncommon that in their surveys appears an inflated percentage:

Premise Pays Over $1 Million in Bitcoin to Contributors Around the World.

[ultrloa]

Premise (a crowdsourced insights company) reported in a press release that 41% of respondents consider Bitcoin to be more reliable than their own local currencies. 

Those numbers actually seem pretty high to me. Many people don't even know enough about Bitcoin and cryptocurrencies in general, much less about their security or reliability. We still have a long way to go before people are comfortable with the concept of decentralized currencies, something they have never experienced before.

I agree and i believe there is something wrong in the article, bitcoin adoption still in very low levels especially in the 3rd world countries, people can even jailed for using bitcoin in some countries like egypt so its too early for this number

i believe that 41% is really not true. global percentage? the sample size may not be sufficient to conclude this percentage, and the representatives for each country is not very well-represented. as we can see the adoption is increasing but when it comes to global percentage, it is still small.
anyway, if we based on this stats, i can understand if some people are truly trusting bitcoin especially for those people who are disappointed with their government.

I agree with that since in reality if we look at our local neighborhood we can see few or shall we say almost zero are using bitcoin so its hard to conclude that number is true, but since the adoption is truly increasing I think that's enough for this year since for sure maybe next year we can see another more great adoption since for sure those country which plan to adopt bitcoin will execute it. Maybe for bitcoin users its undeniable that people who have it prefers that over fiat since first we can assume that your reason is one factor also another factor could be its profitability.

[TheNineClub]

Not going into the research itself, it's really important to note where are the people who participate are coming from. For instance, I'd be shocked if the majority of Americans, Canadians, Scandinavians, Germans, Brits etc... thought that they trust local currencies less than BTC. Furthermore, even though the research is still ongoing, it's still a small number of participants (seeing the study is globally conducted) s the actual numbers aren't ready to be interpreted in any shape or form.  So let's give it time.

[n0ne]

Not going into the research itself, it's really important to note where are the people who participate are coming from. For instance, I'd be shocked if the majority of Americans, Canadians, Scandinavians, Germans, Brits etc... thought that they trust local currencies less than BTC. Furthermore, even though the research is still ongoing, it's still a small number of participants (seeing the study is globally conducted) s the actual numbers aren't ready to be interpreted in any shape or form.  So let's give it time.

The sample is small compared to the universal population. It is a must to specify the places from which and all participants responded and the numbers. As said participants from specific countries will be highly positive on Bitcoin whereas some will be for fiat. So we need to give time to get the best result.

In my view the decline of USD purchase power can be the reason for increased trust on Bitcoin.


Internet . Surfing the internet I found it.

[GeorgeJohn]

I wonder where they did this research. It was for sure online on some technical website and not randomly over the phone like those surveys are usually done. I am certain, they wouldnt get such a high percentage that way because 40 % dont even know what crypto is, yet alone they would trust it over fiat.

Everyone has choice of belonging, were you not aware their is a period bitcoin wasn't be trust by people. Know a technical analysis has been proven that statistics of people using bitcoin showing that about forty one percent (%41) have interest or prefer bitcoin than Fiat currency. Someone made this prediction recently that in time coming bitcoin will take over the world. And every payment will be like to be made with bitcoin, but many people was like kicking against the suggestion, i have forgotten the place i read the post and would have attached it here. Just mark my word, bitcoin will be in equal wavelength with fiat currency.

[qwertyup23]

Premise (a crowdsourced insights company) reported in a press release that 41% of respondents consider Bitcoin to be more reliable than their own local currencies. 

Those numbers actually seem pretty high to me. Many people don't even know enough about Bitcoin and cryptocurrencies in general, much less about their security or reliability. We still have a long way to go before people are comfortable with the concept of decentralized currencies, something they have never experienced before.

Unfortunately, lots of people nowadays do not research about the nature and history of BTC before they invest. Like they blindly invest into something due to the hype on how it is portrayed on the media. Then when the price of it decreases (due to volatility), they will be the ones who will spread the news on how investing into BTC is a 'scam' as they will now proceed to spread false information as to such.

41% is indeed high for people to favor cryptocurrencies against their local currency. Given the fact that the value of the former is inflationary due to its limited supply, it has its fair share of negative consequences if it were to be considered as the 'main currency' of every country.