Lower Income Populations More Likely To Adopt Bitcoin

[commandrix]

According to CoinTelegraph:

The 2014 Survey of Bitcoin Polling, was released earlier this week by the Bitcoin Knowledge, Use, and Opinion (BitKOU) project. The report suggests that lower-income populations are more likely to adopt Bitcoin, and recommends greater effort on building knowledge and trust among general publics.

http://cointelegraph.com/news/113446/survey-lower-income-populations-are-more-likely-to-adopt-bitcoin

[1714470273]

1714470273

[MakingMoneyHoney]

According to CoinTelegraph:

The 2014 Survey of Bitcoin Polling, was released earlier this week by the Bitcoin Knowledge, Use, and Opinion (BitKOU) project. The report suggests that lower-income populations are more likely to adopt Bitcoin, and recommends greater effort on building knowledge and trust among general publics.

http://cointelegraph.com/news/113446/survey-lower-income-populations-are-more-likely-to-adopt-bitcoin

I always thought one of the nicest things about bitcoin, is all you need is a wallet address, and they're free.

With banks, it's often required that you deposit a certain amount of money to start your account, like $50 - $100 minimums. With Bitcoin, someone who has nothing, can get a wallet for free, and start earning money for free with faucets or being tipped, or even doing free lance jobs. They'll never have to pay anything, except a very tiny fee (compared to banks/credit cards) when they go to buy something with what they've saved up.

It's very liberating for those with very little money to start with.

[picolo]

According to CoinTelegraph:

The 2014 Survey of Bitcoin Polling, was released earlier this week by the Bitcoin Knowledge, Use, and Opinion (BitKOU) project. The report suggests that lower-income populations are more likely to adopt Bitcoin, and recommends greater effort on building knowledge and trust among general publics.

http://cointelegraph.com/news/113446/survey-lower-income-populations-are-more-likely-to-adopt-bitcoin

I always thought one of the nicest things about bitcoin, is all you need is a wallet address, and they're free.

With banks, it's often required that you deposit a certain amount of money to start your account, like $50 - $100 minimums. With Bitcoin, someone who has nothing, can get a wallet for free, and start earning money for free with faucets or being tipped, or even doing free lance jobs. They'll never have to pay anything, except a very tiny fee (compared to banks/credit cards) when they go to buy something with what they've saved up.

It's very liberating for those with very little money to start with.

Banks have big fees and can go bankrupt.

[TheDreadPirateDickstein]

This is a bunch of permabull garbage.

The answer to this question is......no.....this is not an asset for the poor.....this is an asset for people who know how to use it and put it to PROPER use.

[pereira4]

This is a bunch of permabull garbage.

The answer to this question is......no.....this is not an asset for the poor.....this is an asset for people who know how to use it and put it to PROPER use.

Well, if you are in a shit tier country that has at least a half decent connection, you could be making way above minimum wage from sig campaigns alone, this within itself a revolution.

[Brewins]

This is a bunch of permabull garbage.

The answer to this question is......no.....this is not an asset for the poor.....this is an asset for people who know how to use it and put it to PROPER use.

It is an asset for people that have knowledge but are cut off from good jobs  and from the main banking system(there are such people for example is eastern europe and india).

[countryfree]

Really? I'm not sure the people surveyed were fully representative of the general public.

[Mobius]

This makes sense. Just look at m-pesa in Africa. BTC is a good alternative.

[TheDreadPirateDickstein]

This is a bunch of permabull garbage.

The answer to this question is......no.....this is not an asset for the poor.....this is an asset for people who know how to use it and put it to PROPER use.

Well, if you are in a shit tier country that has at least a half decent connection, you could be making way above minimum wage from sig campaigns alone, this within itself a revolution.

Like DR......they 90% computer illiterate. Get with the program habibi. This is not a valid use for the overall success of BTC.

[bitcoin_bagholder]

The volatility in bitcoin has to be eliminated for adoption by people who are struggling to making ends meet.

[Cryptonitex]

According to CoinTelegraph:

The 2014 Survey of Bitcoin Polling, was released earlier this week by the Bitcoin Knowledge, Use, and Opinion (BitKOU) project. The report suggests that lower-income populations are more likely to adopt Bitcoin, and recommends greater effort on building knowledge and trust among general publics.

http://cointelegraph.com/news/113446/survey-lower-income-populations-are-more-likely-to-adopt-bitcoin

I always thought one of the nicest things about bitcoin, is all you need is a wallet address, and they're free.

With banks, it's often required that you deposit a certain amount of money to start your account, like $50 - $100 minimums. With Bitcoin, someone who has nothing, can get a wallet for free, and start earning money for free with faucets or being tipped, or even doing free lance jobs. They'll never have to pay anything, except a very tiny fee (compared to banks/credit cards) when they go to buy something with what they've saved up.

It's very liberating for those with very little money to start with.

Banks have big fees and can go bankrupt.

You can easily lose cash, misplace it, or it get stolen just as easy... Or, waste your time, pay interest to cash in paychecks for cash. All in all, cash isn't worth it. I don't even know what to do with the cash I have, just take it to the bank, because paying with plastic is easier than cash.

Banks do have a limit on how much you are insured. Something like $100,000, and if your lower income, 6 digits will never be in a bank anyway, they'll be lucky to have 4 digits let alone 3.

I'm not trying to reign on BitCoin, but banks are still the better option. It's more convient to pay with plastic. Get a BitCoin card, that'll solve many problems. That's where I wanna see the market.

[MakingMoneyHoney]

According to CoinTelegraph:

The 2014 Survey of Bitcoin Polling, was released earlier this week by the Bitcoin Knowledge, Use, and Opinion (BitKOU) project. The report suggests that lower-income populations are more likely to adopt Bitcoin, and recommends greater effort on building knowledge and trust among general publics.

http://cointelegraph.com/news/113446/survey-lower-income-populations-are-more-likely-to-adopt-bitcoin

I always thought one of the nicest things about bitcoin, is all you need is a wallet address, and they're free.

With banks, it's often required that you deposit a certain amount of money to start your account, like $50 - $100 minimums. With Bitcoin, someone who has nothing, can get a wallet for free, and start earning money for free with faucets or being tipped, or even doing free lance jobs. They'll never have to pay anything, except a very tiny fee (compared to banks/credit cards) when they go to buy something with what they've saved up.

It's very liberating for those with very little money to start with.

Banks have big fees and can go bankrupt.

You can easily lose cash, misplace it, or it get stolen just as easy... Or, waste your time, pay interest to cash in paychecks for cash. All in all, cash isn't worth it. I don't even know what to do with the cash I have, just take it to the bank, because paying with plastic is easier than cash.

Banks do have a limit on how much you are insured. Something like $100,000, and if your lower income, 6 digits will never be in a bank anyway, they'll be lucky to have 4 digits let alone 3.

I'm not trying to reign on BitCoin, but banks are still the better option. It's more convient to pay with plastic. Get a BitCoin card, that'll solve many problems. That's where I wanna see the market.

For the few people who got those Xapo debit cards (and you can't get them in the US for now at least), they can pay for things with bitcoin using a card already.

[pitham1]

This makes sense. Just look at m-pesa in Africa. BTC is a good alternative.

I agree. Legacy technology can be leap frogged and these populations can adopt Bitcoin.
You don't need deep banking penetration. A mobile phone with internet connection will do.