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How Bitcoin Acceptance Exactly We Surveyed Over 2,000 Americans Online



Every 18 months, Blockchain Capital commissions Harris to conduct an online survey of more than 2,000 American adults across the United States, aiming to understand whether the general public in the United States has made progress in the adoption of cryptocurrencies. Blockchain Capital partnered with The Harris Poll for the first time to launch this survey in the fall of 2017, followed by a second survey in the spring of 2019. The latest survey was completed from October 7th to 9th, 2020. This article will analyze the results of this survey in detail. Of course, there are many other service providers in the market that conduct various cryptocurrency-related surveys, but Blockchain Capital's survey results are different from them, mainly in the following two aspects: The comparison is more meaningful: Blockchain Capital conducted three consecutive years The same survey was conducted, so the survey conclusions are more meaningful. Although we add some new questions in each survey, the stock questions remain the same; use a neutral third party for the survey: all surveys are conducted by Harris Poll, if Blockchain Capital does its own research, and the results are naturally skewed toward a crypto-friendly audience. Financial experts: Britain can maintain financial competitiveness by embracing digital assets such as Bitcoin: According to news on February 15, Professor David McMillan, a financial expert at the University of Stirling in the United Kingdom, said that after Brexit, the UK can embrace Bitcoin and other digital assets , which may elevate London's status as a financial center to a new level. (U.Today) [2021/2/15 19:49:54] This survey aims to assess the general population’s awareness, familiarity, perception, belief, relative preference, and purchase propensity for Bitcoin. We can find out in this survey In-depth understanding of the popularization and application of cryptocurrency in the project. The diagram below shows a "Cryptocurrency Adoption Progression": As shown in the diagram below, we can divide the cryptocurrency adoption progress into three main stages: Learning stage; Affirmation stage; Adoption stage. Notably, the "learning phase" saw the strongest growth from fall 2017 to spring 2019. However, during the latest survey, it was found that the "affirmation stage" has achieved the largest increase. There is no doubt that more and more people are already aware of Bitcoin and are rapidly accepting this emerging thing. Bitcoin Startup In Talks To Be Acquired: Golden Finance reports that Bitcoin startup is in talks to be acquired after announcing its intention to shut down last week. Additionally, the company has "several interested parties," including "well-known bitcoin investors," and the company said it could not disclose any further details. As a result, Purse's originally planned closure date of June 26 may be delayed. [2020/4/24] If you are short on time and don't want to read this article carefully, the following figure shows some key points: Next, let us study the "Cryptocurrency Adoption Progress" according to the above three different stages. Like most of the indicators in the "learning stage", it can be seen in the recent survey that more and more people have begun to understand cryptocurrency, and 90% of the respondents said they have heard of Bitcoin, so the "knowledge" indicator can be said to be Already considered relatively saturated, this metric is the only question in this survey that doesn’t show a significant age bias—most Americans, regardless of age, have heard of Bitcoin. News | Brazilian confectionary company Roma to use 'Bitcoin' and Bitcoin logo-zce on its chocolate coins: According to Confectionery News, Brazilian confectionary company Roma has been granted a patent to use the word 'Bitcoin' on its new chocolate coins And BTC official logo. [2019/4/29] Similar to the "cognition" indicator, we observed that the general population's "familiarity" with Bitcoin has increased, but the overall trend has remained stable - those who are "at least somewhat familiar" with Bitcoin people, the proportion rose from 43% in spring 2019 to 45% in fall 2020. In this latest survey in 2020, this indicator is somewhat age-biased, with 60% of those aged 18-34 saying they are "at least somewhat familiar" with Bitcoin; only 24% of those over 65 saying they are "At least somewhat familiar" with Bitcoin. The percentage of findings agreeing with this view also rose by 2 basis points on the assessment of "strongly" or "somewhat" agreeing that "Bitcoin is a positive innovation in financial technology" - from 43% in Spring 2019 to Fall 2020 45%. In the latest survey in 2020, this indicator has a certain age bias, among which young people are still the most inclined to be optimistic about Bitcoin, specifically: Dynamic | Price fluctuations are the main reason why Bitcoin cannot become digital gold: For Why is BTC not digital gold? Coincryptorama published an article stating that for any cryptocurrency to become digital gold, it should rise in a steady manner, and therefore, its downside risk should be limited. Even though BTC and gold have similar scarcity, BTC cannot be considered gold due to its past performance. It will also be difficult for BTC to reduce its volatility in the near future, making its price momentum and capital protection similar to that of gold. [2018/12/3] 60% of 18-34 year olds "strongly" or "somewhat" agree that "Bitcoin is a positive innovation in financial technology", an increase of 12 percentage points from the fall of 2017); 35-44 58% of the population “strongly” or “somewhat” agree that “Bitcoin is a positive innovation in financial technology”; only 33% of those over 45 “strongly” or “somewhat” agree that “Bitcoin is a positive innovation in financial technology” . In the latest survey results in the fall of 2020, the strongest growth is the "positive stage". Although the blockchain capital team expected this indicator to increase to a greater extent, the results are still somewhat surprising. When assessing the "Definite Phase", the method chosen by Blockchain Capital was to ask the extent to which respondents agree with the statement "Most people will use Bitcoin in the next ten years?", "Very" or "Somewhat" agree with the statement The percentage of the crowd in 2019 increased from 33% in spring 2019 to 41% in autumn 2020, an increase of 8 percentage points, in which a member of a cybercriminal organization was arrested Evidence shows that he has more than 100,000 bitcoins: According to the Bangkok Post, the police Arrested Sergey Sergeyevich Medvedev, a Russian citizen believed to be the second-ranked member of the international cybercrime group. Medvedev was arrested by Thai authorities on February 2 at the request of the FBI. Evidence shows that he held at least 100,000 bitcoins, worth about $820 million, at the time of his arrest. Medvedev is said to be the administrator of the dark web Infraud, which mainly involves the sale of stolen credit cards, ID cards and illegally obtained government documents. [2/10/2018] 56% of 18-34 year olds "very" or "somewhat" agree that most people will use Bitcoin in the next ten years; 57% of 35-44 year olds "very" or "somewhat" "Agree that most people will use Bitcoin in the next ten years. A new question was also added to this latest survey, asking Americans whether Bitcoin will last longer? Or will the euro last longer. As a result, 38% of people think that Bitcoin will exist longer than the euro, and 58% of the 18-34 year olds think that Bitcoin will exist longer than the euro. In addition to having belief in the future of Bitcoin, this survey also attempted to assess whether the general population would prefer Bitcoin or other assets as their investment targets. So the question posed in the survey: Would you rather own $1,000 worth of Bitcoin or $1,000 worth of government bonds/stocks/real estate/gold? As a result, the relative preference rate for preferring to invest in Bitcoin has risen across the board, with particularly strong growth among younger cohorts. The overall findings, regardless of age group, are as follows: 26% prefer Bitcoin to government bonds (up from 21% in Spring 2019); 23% prefer Bitcoin to stocks (up from 2019 17% in Spring 2019); 20% prefer Bitcoin to real estate (up from 14% in Spring 2019); 18% prefer Bitcoin to gold (up from 12% in Spring 2019) . Among the 18-34 age group: 38% prefer Bitcoin to government bonds (up from 30% in Spring 2019); 35% prefer Bitcoin to stocks (up from 2019 27% in spring); 33% prefer bitcoin to real estate (up from 24% in spring 2019); 31% prefer bitcoin to gold (up from 22% in spring 2019). Among the 35-44 age group: 36% prefer Bitcoin to government bonds (up from 27% in Spring 2019); 31% prefer Bitcoin to stocks (up from 2019 22% in spring); 25% prefer bitcoin to real estate (up from 15% in spring 2019); 26% prefer bitcoin to gold (up from 14% in spring 2019). Although the price of bitcoin is still about 50% lower than its all-time high at the time of this survey, the willingness of ordinary people to buy bitcoin has increased. Overall, the percentage of people who say they are “very” or “somewhat” likely to buy Bitcoin in the next 5 years has risen by 7 percentage points — from 27% in Spring 2019 to 34% in Fall 2020. Consistent with the general findings in this survey, younger demographics appear to be most inclined to buy Bitcoin, with 55% of those in the 18-34 age group saying they are "very" or "somewhat" likely to buy Bitcoin in the next 5 years Bitcoin (up 13 percentage points from 42% in Spring 2019) Only 26% of those over the age of 35 say they are "very" or "somewhat" likely to buy Bitcoin in the next 5 years. The proportion of people who own cryptocurrencies has increased across the board (only 16% of people owned Bitcoin in the spring of 2019, and this number increased to 24% in the fall of 2020). Li: 14% claim to own Bitcoin; 8% claim to own Bitcoin Cash; 6% claim to own BNB; 5% claim to own Ether. The biggest takeaway from this survey is that over time, Bitcoin has two very obvious development elements: First, as Bitcoin proves itself year after year, more and more people start to understand it (with age). level is irrelevant). Second, over time, young people now make up a significant portion of the total Bitcoin economy and investment activity—noting in particular that young people tend to be more likely to buy and invest in Bitcoin than older people. Use bitcoin. In conclusion, when it comes to Bitcoin (and cryptocurrencies more generally), technical (and macro) investors have long focused on fostering interest, engagement and activity among younger demographics.


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