Global Blockchain Business Council and Survey Monkey came together for an assessment of US attitudes towards the world's most popular cryptocurrency, bitcoin. It is evident that knowledge towards the decentralized currency is increasing, but those that actually own the digital asset are still relatively low. It is an amount that is not very representative.
Therefore, we can say the following, Americans are more aware of Bitcoin, but remain on the sidelines. During the second week of this year, 5,761 adults were surveyed about their attitudes towards Bitcoin. Survey Monkey, one of the partners, selects "the almost 3 million people who conduct surveys on the Survey Monkey platform every day," explains the website's tab of its methodology. "The data has been weighted by age, race, sex, education, and geography using the US Census Bureau's Survey of the United States to reflect the demographic composition of the United States. The estimate of the modeled error for this survey is plus or minus 2 percentage points. "
The last time such a large survey was conducted, it was in 2013, carried out by the On Device firm in preparation for a conference in London, the consciousness or knowledge towards bitcoin of the Americans languished by 25%. It is true that the first decentralized virtual currency was only four years old, but at that time there seemed to be enough press coverage that guaranteed greater familiarity.
By 2018, not a decade ago, bitcoin awareness increased more than twice that number according to Survey Monkey and Global Blockchain Business Council. And although the recognition of the brand is growing, real participation seems somewhat low. Nearly six out of ten respondents revealed that they had heard of bitcoin, an increase of 33 points over the 2013 measure (the two surveys are not linked). More than 5,000 people participated in the current questionnaire.
It can be mentioned that there is more confidence in Bitcoin on the part of people, than the one you have towards your government. A fraction of that number actually has bitcoin, either in a wallet or an exchange. According to the survey, only 5% have digital assets; 21 percent of that number claims to be "considering adding it to their portfolios." A majority of holders are men, under 34 (58%), white. One analyst expressed the results as basically admitting that ten percent of millennials own bitcoin, while older Americans barely exceed one percent. The policy of Bitcoin owners is politically independent in half: less than 20% trust their government more than Bitcoin network (almost a quarter).
Likewise, a third of the holders "use it to avoid government regulation", 28% "see it as a reserve of value" and 63% "see it as a growth investment". , the discussion of little or no about the use of the bitcoin exchange medium seemed compelling. Holders were three times more likely than their nocoiner counterparts to claim that they would buy more bitcoins if they had an extra $ 1,000 USD.
"But the risk remains as the bubbles are in the eye of the beholder," the survey continued. "When asked about possible asset blockages in 2018, 38 percent of all Americans (and 41% of Bitcoin owners) see Bitcoin as a bubble about to explode this year. 31 percent say the same about US stocks and 27 percent say it about housing prices. " Likewise, the survey did note that almost 70 percent expect bitcoin to increase in value in the next half of a decade. A little more than 10 percent believe it will go extinct.
In summary, the survey presented above may be a reflection of a lack of culture or lack of information that can be presented, in a reasoned manner, so that future users can know that cryptocurrencies such as bitcoin, must know that they are decentralized that can not manipulate and the government can not print or create from scratch this valuable asset. It waits for new announcements.