8% Of Americans Own Cryptocurrency. 8% Also Is Planning On Buying
The survey found that out of the 92.05 percent of Americans that have not purchased crypto, almost 8 percent reported that they are planning on doing so in the future.
According to the survey, men are more than double as likely as women to own cryptocurrency -- 11.86 percent of all men to 4.27 percent of all women -- as well as more likely to own more crypto in terms of dollar value.
Millennials more so than gen x'ers and gen x'ers more than boomers.
Why Arent People Buying?
Women generally think it's too complicated, whereas almost twice as many men think its a scam. This one is strange one IMO. Women are in general more disinterested, which is no surprise. Men also think it's a bubble more than women do.
Babyboomers are in general more disinterested or in no need to buy cryptos. Not so strange, since they have robbed all future generations of their money - those mutherfuckers. I'm sorry to all you sensible boombers, but in general you're the worst most selfish fucking generation to ever live.
Millenials think its too complicated, and think it's too difficult to use.
Now, this is interesting. How much have they purchased?
Only $3000 dollars on average is invested in Bitcoin in the worlds richest country, And only $1,200 in Ethereum. Cardano is $85.
Reading this is when you understand that holding something like $10,000 in Steem or $5000 in EOS or $6000 in Ethos is just very very not normal at this stage.
If you had any doubts that we are early stage...here you go.
I think this point is key when it comes to Westerners both young and old.
Most Westerners don't see a need for crypto yet because their 401k, real-estate investments and dollars have been propped up by the central banks, but they don't realize yet that the system, at least in its current form, can't be stable in perpetuity.
Most people have already forgotten the 2008 crisis and think that everything has been fixed!
Also, remember that boomers are addicted to the debt based fiat system that has fed them fat for a generation. They have spent all our money and all minellian money. Sure, gen xers and millennials must take responsiblity themselves, but to be honest..they are born into a system run by boomers. It's not easy for the average 17 year old to understand that they under no circumstances must go to college or put themselves in debt. When I was 18 I thought it was free money :D
Okay 2017 was a great year but most of the people did invest late 2017 or early 2018. Lots of people will have lost a big chunk of money, if they sold with a loss, it will be difficult to get them back into the market.
So they probably have forgotten the 2008 crisis but did not forget the early 2018 cryptocrash, which is still going on!
Interesting participation rates by generation. Too bad the millennials are saddled with epic levels of student and credit card debt. If they had more disposable income we would likely be seeing much more growth in crypto price action.
Good point. That's true. They have very little purchasing power. Boomers have extreme levels..but as you can see they are skeptical because they are old and in a way addicted to the current debt based fiat system. You dont bite the hand that has fed you througout the years. Gen x'ers and millennials see that there is no future for us in the old system. All we inherit is debt and "diversity". Fuck them. We create our own world and our own system.,
if u have a good amount of stock and $$$ in the bank and u are in Ur 60. a I would not recommend to invest fore my self, but a wanted
to buy a bitcone and give to my children. a think most of them are not interested.
all the millennials has just started. the are pooing in to the market now
Millennials can't purchase alot of crypto because they are generally broke and also older people are the ones with the liquid cash to purchase any trending crypto.
If you look at the graph of generations, Baby Boomers are the most distrustful in general features of the Blockchain, while millennials have obstacles seemingly lack of information about it, maybe they are not so interested, Generation X is the one that is more inclined to join the market between the other two.
It is curious that the number of people who are disinterested is the highest, but nevertheless does not reach half, which means that more than 50% would be predisposed to enter the market under other conditions, that is, if they had more information, if it was not so risky, "if it were not a bubble", etc, etc...
Correct. Of course boomers don't like freedom. They are born into the worst ponzi scheme ever, and it made them very rich on average. Ultimately though, the clowns are the gen x'ers and millenialls. We end up with the debt. That's why we created a new system, just to say a last fuck off to those scumbags. Go rot in a public hospital while we get rich our own way.
It could be summarized like that, although there are two faces of the millennials, the sensitive snowflakes that want more paternalistic State and less individual freedom, and the millennials that are really looking for something different and are turning their backs on the State in this, even I would say that they are reactionary in some sense because they are opposed to postmodernism. The latter are the ones most likely to join the blockchain and try to bury the banking system.
Agree! I'm just generalizing millennials as these clueless snowflakes, but I've read some surveys that youngsters today in the west are actually more conservative. I'm not sure if I believe that, but the above average intelligent 20 year old internet trolling kekistanian meme-warrior trump supporter is a very likely hodler..if he only had some money :)
I do like millennials more than I like boomers by the way. They are truly the most disgraceful generation ever.
Really interesting statistics. To be honest I'm not surprised about the amount of people who did invest into cryptocurrency.
Probably more than even 8% of the Americans are even unaware of cryptocurrency.
But we shouldn't compare it with the overall population, is should be compared with the people who did invest in the stockmarket, this would be a much fairer. It is hard to expect that people who are not into investing would invest into cryptocurrency!
The mass still has to come.
I think in the U.S. it’s a class issues. Not many people even have $3,000 or even $1,000 to spare for crypto.
Which of course is insane...They are neck deep in student debt instead. I think cryptos is for gen x'ers generally. Boomers are too old, and millenialls are too broke.
Yea, the way things work here in the U.S. is insane. If you’re well off life is amazing but if you’re not it’s an almost impossible trap to escape. With health insurance, loans, the need for a car and lack of education in financial planning it can be a hard life for the average person.
Yes, well I think holding $3000 worth of bitcoin is very high and the average is probably skewed by those that have hundreds of thousands or millions worth. I would guess the median is somewhere like $200 or less. Personally I don't even put any money in bitcoin. Just don't see it as anything more than a form of popularizing the concept of cryptocurrency and that has pretty much happened. Next we should start seeing better currencies gaining momentum.
Americans is still one of the rich countries..so 3000 is not that much for an investor. Worldwide the number is probably more like 200 or less.
https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html
But I wouldn't say that everyone who buys cryptocurrencies realizes they are investors, they are mostly just people who want to get quick money and think this is the solution. Therefore they put in a small amount :)
Yeah.- Most people have no idea why they are doing any of the stuff they are doing :)
But with some help we can make hodlers out of them
I want to bet that every single dollar Millennial spent investing in crypto instead of 401k in less one generation will the financial markets no longer hold the most wealth buy crypto. We can do it younger generation!
Now if only I can get my wife to agree ;)
She'll agree when cryptos are over 1 trillion total mcap :)
Holding 3000$ I'd the average for bitcoin. Though there are people who have over 12000$ in steem right now and not selling . Great post though!
Thanks. Yeah, I have 10k in Steem. Selling anything now would be stupid. I cashed out a little bit when Steem was 6-8$ to buy alt coins with. But right now only accumulating SP. If (which is very likely) crypto market goes above $800 billion again, Steem will be a $10 dollar crypto. Easy.
OK. Thanks for the advice and analysis.
Time for mainstream adoption, we all want cryptocurrency to succeed, it deserves it for the greater good.
Well I do as well thought of it as Scam off this crypto world and when time passed by it got adopted by me as well !
These scenario will change for many as well !The adoption will sure be big in the coming days !