Content adapted from this Zerohedge.com article : Source
by Tyler Durden
Bitcoin's tepid performance since the beginning of the year - it has largely consolidated around $10,000, down 50% from its all-time peak - has left cryptocurrency evangelists with egg on their face.
But who exactly owns bitcoin? While nearly 60% of Americans say they've heard of it, only 5% of people own bitcoin, according to Bloomberg.
At least that's what a joint study by SurveyMonkey and Global Blockchain Business Council determined... And within that group, demographics are fairly consistent. An overwhelming 71% of them are male. The majority - 58% - are young, between the ages of 18 and 34 years old.
And unlike the broader US population, nearly half of them are minorities.
When asked why they bought the crypto asset, investors answered that a combination of a lack of trust and an opportunity for return are at play. About one-third of Bitcoin owners said it was a means to avoid government regulation - 24% also said they trust Bitcoin more than the US government in a separate question - and about two in 10 saw it as a hedge against crashes in traditional assets. More than 60% also said that buying the digital coin was seen as a growth investment.
Studies like this show how small the whole market still is. We are just at the very beginning and still far away from Bitcoin being at the peak of a bubble. Whenever 50% of people own Bitcoin, then one can start to worry ;)
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It makes sense that many young people own Bitcoin. In an age where you can find so much dirt about governments on the internet, it only makes SENSE that young people would immediately jump towards alternative opportunities.
You're investing in something that NO government can control. I said CONTROL. Let's be frank for a second: young people do not like control. Why not invest in cryptocurrencies?
Performance wise, we've seen what crypto can do. Sure BTC is down 50% from it's ATH, but bears never mentioned that we're STILL up over 1000% in the past YEAR. What stock has out performed that? What real-estate portfolio has out performed that?
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Most people have preliminary information about Bitcoin
Through a global payment system, such as their counterparts in paper currencies, such as dollars, euros and sterling. It is distinguished from any currency in the world that it relies on encryption and does not have a serial number. It is not controlled by governments and central banks. It is handled directly via users and through the Internet. The story of Bitcoin started when a Japanese named Satoshi Nakamoto This name is said to be the umbrella of a group of people or companies hiding under the creation of the digital currency, believing that the time has come to keep pace with the technical progress that is dependent on the Internet, not just technology, in all walks of life. The digital currency was created on the ground in 2007, while August 2008 was the year of the real launch, after the launch of a site called Bitcoin.org to be the official domain, and the launch of the first version of the currency, which was actually in early 2009.
The exchange rate of the first issue of bitcoin was $ 1309 per btc. The Bitcoin Stock Exchange was launched in February 2010, which witnessed the first real trading of the currency, according to the stock market legislation, but the market forces pushed to reduce the price of the traded form to close to $ 25, accompanied by the jargon of some traders, as the exchange rate for the purchase of a pizza of large pieces, while the size of the market traded by 10 thousand composition, while aiming Nakamoto founder of the currency to the issuance of 21 million bitcoin only.
Thank you for the valuable information
I loved this very much. @zer0hedge
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People all over the world are investing here but some countries government ban cryptocurrency in their country.
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I also don't think it's impossible to say that it's a combination of a ton of different factors. Trust, regulation, hedging against economic downturns, and pure speculation are all great reasons and not necessarily mutually exclusive either.
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I also think so bro.
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You're right, it is a combination of different aspects. For me, the price attracted me, and the technology got me to stay. I've never been this hungry for knowledge in my entire life. I'm so thankful for Bitcoin. Without Bitcoin, many of us would have never heard of steem and steemit!
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you can say that again!!!
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Thanks for the info! About what I had expected..
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It makes sense that the ostracized are the ones buying it. Bitcoin offered opportunities to those who were shunned before. Wall Street requires money and most people do not have that. Initially, the outcasts and anarchists could get involved for little money. Now those people are millionaires.
Over time, we will see more of this as crypto spreads. On here, I bet a lot of the holders of STEEM are not in the traditional model of Wall Street. There are a lot of women on here plus many from third world nations.
This is what is starting to make STEEM one of the best communities on the net.
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An end of allll ends to poverty baby !! I remember your post about this awhile back
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The digital currency "bitcoin" is still operating in many countries of the world, after it registered a rise in trading last year, and recorded with it a continuous increase in price, spread and growth in the number of users, which has caught the attention of international stock exchanges, and many investors , Financial trading houses, the media, social networking sites and news agencies.
The future is "bitcoin", especially since many international banks are still looking at it cautiously, and many experts are afraid to deal with them, and alert to wait before approaching the arena of trading in these "mysterious funds", warning that the sudden rise, threatening to fall sudden.
But digital bores will force themselves
Thank you for the valuable participation. @zer0hedge
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Yeah bitcoin price just increased recordly last year.
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OpenSSL is also open source but it got the Heartbleed vulnerability discovered among the other CVEs they are constantly fixing.
"Thermo-rectal cryptoanalysis" how we call it in Russia - a few bad guys put a soldering iron into someone's anus and ask questions. Helps to get various passwords and keys very quickly. I heard that number of similar crimes around crypto-miners/holders increases, therefore please be careful in your non-digital life boy . @zer0hedge
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Without a monopoly on currency, the fiat world order is dead. When Bitcoin entered and became more of a threat as a currency rather than an asset, the banking system needed a way to discredit the threat to their system. They figured it out: inject price instability. I read a piece about Stripe no longer accepting Btc because the price fluctuations wreak havoc on profitability, among other things. The banking system wins again. They don't care if there's another asset to be traded called Bitcoin. They only care that there is no alternative currency called Bitcoin.
Same thing with the recent announcement that solar panels are being slapped with a tariff. Of all the products upon which to assess the fee, they choose one that is blossoming into a genuine alternative to petroleum. There shall be no alternatives to the petro-dollar. It's not a bullet to the heart of the solar industry, but it is a good knife-wound. It removes the incentive for most people to make the switch to home-generated energy
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Yeah I agree that without a monopoly on currency, the fiat world order is dead.
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"I have not seen any product up to now with such a steep graph, but Bitcoin is following the steepest path I've ever seen in my career," Roach said, noting that Bitcoin is the hardest moving financial product he has seen up to now.
Bitcoin, which has gained more than 11 kattan since the beginning of the year, ran to the limit of 12 thousand dollars. The crypto currency, which has been experiencing very hard ups and downs in the recent period, continues its record series against all warnings.
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I think I agree with all of them. :)))
Traditional money will not be used in the future. (NOW) A wise investment in something I think you will appreciate. They are all right and I agree with all of them. 5% is really too little for such a value. This is better for those who want to invest in the future. The price is now lower than the future. That's the perfect timing for buying. According to my opinion, the generation that will come after 100 or 150 years. He will not even know what traditional money is. I think it is natural that the majority of the crypto units are between 18 and 34 years old. The young population is investing in their own future. Because the communication between the young people is a little more. This is the majority of young people. Again, it is normal that this majority is male. Men know how to earn their monetary freedom more quickly. This event is driving them to other quests to gain more.
Thank you for informing us. @zer0hedge
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I see buying bitcoin as a growth investment. Good article. Resteemed.
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@zer0hedge...bro Not sure why you would divulge that as fact, but nobody said ya'll were smart.So I've got a one in four chance of jacking one of you, clipping a little finger then asking you for your wallet..I like those odds, and I'd bet they get better.now" right?..they're still there.I guess you're just a fucking dumbshit. Big surprise.The code is up on GitHub, its all transparently displayed. If you think you can crack cryptography, then not only have you compromised Bitcoin, but Banks and Sovereign States too.But you haven't, because you're a fucking barking seal retard that barely has the energy to pound out your shitty missives.I dream of a cryptocurrency ecosystem that is truly a moral good and delivers real value to humanity.But, instead we have another fraud based ponzi joke that has been captured by whoever is behind and whoever is allowing this tether printing scheme to get way out of hand. I'll be more hopeful once Tether implodes and we see what emerges from the wreckage ...thank you for sharing with us...
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That's because the whole system is built on monetizing all the different products that can be made from a barrel of oil. Rubber, plastic, asphalt, Oil, Gas, etc...
You are useful to the system only insofar as you support the paradigm. Dmitry Orlov describes it as the Technosphere; a sort of hive mind artificial intelligence restricting your choices in effort to grow and expand itself.
Once Bitcoin falls to $200, andf the rest are trading for $10, there is going to be a new surge in gold coin investing. All these millennials that maybe found the nut like the blind squirrel, will be converted into gold Hodlers...very quickly.
@zer0hedge
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Yes bro what you said is really correct ..if the price of btc will be decresed again every one buy the coins and also price will be hiked more..
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Interesting brakedown of Bitcoin buyers. Buying crypto comes with a risk and young males are definitely risks takers.
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Great news thanks for sharing @zer0hedge
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Thx man, followed
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not looking do decentralised from this pov
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a very important article in the world of steemit education, thank you for sharing sir.
@zer0hedge
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An excellent analysis, young people are the bearers of the Internet generation, believe in a new future and this is shown by statistics. Thank zou for exellent news @zerOhedge
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I am a bit surprised by this high percentage. 5% x 320mill = 16 million people own bitcoin in USA - wow, that is a high number. It comes as no surprise about the minority thing, people are sending some money across borders for pennies, not like WU or Moneygram, they will kill you with fees. Good article, thanks
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Great post, i followed.
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I along with don't think it's impossible to pronounce that it's a assimilation of a ton of exchange factors. Trust, regulation, hedging adjacent-door to economic downturns, and unchangeable speculation are all enjoyable reasons and not necessarily mutually exclusive either.
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Lots of reasons for going in for bitcoin. The ladies at 29%.. we've got to have some gender balance here girls.
Young people at 58%, impressive, means we are not qeueing up for jobs as the only way out for income.
With 5% of the Americans owning bit coin, I honestly don't know, is it lack of trust from the 95%.. Am going to do some digging into the reason for that.
Great reasons for joining bitcoin. Me I joined bitcoin as a growth investment.
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Thx for the info,we man take all the risks ofc
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These statistics are very interesting. Resteemed.
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interesting facts here @zer0hedge there are obviously a number of reasons as to why people invest in BTC and other cryptocurrencies, but the real fact of the matter resides in those who are not? Most of the people that do not invest in bitcoin are scared, as there are a number of things to fear with this kind of investment... hackers, losing money in limbo, having no one to talk to bc of the decentralization factor... many others just think of this as a speculative mania, but once those folks realize what they are truly missing out on, they will look back and kick themselves in the a$$ because the blockchain is the future of the internet, and it will continue to revolutionize the way things are being done.
Great post as usual, much respect from @conradsuperb
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Yeah most of the peoples investing in bitcoin for the gaining of money within a short period..the entire could be causes of the sudden raise of bitcoin in last year....
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yeah FOMO setting in and honestly most of the new investors know baseline info about what is going on... there are more than 1300 cryptos and counting, the real money is heading away from BTC
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Hmm the thing about theese kinds of surveys is that it doesnt always reach out to "the right people" im very sure that a majority, at least in the start, did it for illegal activities as darkweb markets and making their money untraceable. Those kinds of people hasnt interacted in this kind of survey.
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Great post!
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White supremacy muh!
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It is like Joe Kennedy said about the late 1920s before the stock market crashed in October 1929. When the shoeshine boy on Wall Street gave stock tips, it is time to get out. This has not happened to crypto currency yet!
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