Bitcoin’s Faithful Numbers 70%, Familiar in the USA

This week YouGov Omnibus published a host of encouraging new survey data, new numbers, also among their findings “48% of millennials would be interested in using cryptocurrency primarily…A vast majority (79%) of Americans are familiar with at least one kind of cryptocurrency.”

Some Promising Bitcoin & Crypto Numbers

Amid declining crypto market prices, it’s heartening for enthusiasts to receive survey data like that lately released by YouGov Omnibus. Their findings concluded, “By far, the most well-known cryptocurrency among Americans is Bitcoin, with 71% of people saying they’ve heard of it. Next best-known is Ether/Ethereum, with 13% saying they have heard of it. Overall, men are more likely than women to have heard of almost every kind of cryptocurrency. About three in ten (27%) women say they have not heard of any cryptocurrency, compared to only 16% of men who chose the same answer.”

YouGov a London-based internet market research firm. For almost two decades, it has principally recognized for its UK political intelligence, but of late has taken on a more international scope. It mainly employs online methodology, including surveying users based on demography. It can draw from as many as 5 million people over the globe, with almost ⅕ of those from the UK alone. Because not everyone uses the internet, even in 2018, the company is sometimes scrutinized for lack of boots on the ground, as it were. Cryptocurrency does seem to be a right way to gather attitudes. Poll analysis specialists FiveThirtyEight graded Yougov a “B,” having called almost 90% of political races without bias. After 2007 they’ve gobbled up US research firms in Palo Alto, CA, Connecticut, Princeton, NJ, Connecticut, and Portland.

This less than enthusiastic deeper dive within the present crypto survey shows that even though Americans have learned of bitcoin, “87% have had no communication with it, meaning they haven’t bought, sold, or mined it. Nearly half (49%) in this group say ‘I’m glad I did not buy Bitcoin earlier, and I do not plan to buy it,’ while 15% say ‘I wish I had bought Bitcoin earlier, but I feel like it’s too late now.’ About one in five (21%) people between 35 and 54 chose this response, while only 11% of people 55 and up did,” YouGov detailed.

Half Empty, Half Full

Slightly more positive note, “more than one-third (36%) of people think that cryptocurrencies will become generally accepted as a means of the transaction for legal purchases within the next ten years. Millennials (44%) are the most likely of any age group to say cryptocurrency will be publicly accepted. About one-third (34%) of Gen X’ers and 29% of baby boomers agreed,” which could bode very well for both the direct and longer-term future.

Still, an embarrassment when it comes to cryptocurrencies, a battle enthusiast had been waging against since decentralized money’s founding nearly a decade ago. “One quarter (25%) say they think cryptocurrencies are used more for illegal purchases rather than legal ones,” YouGov stresses.”Only 17% think they’re used more for legal purchases, and 19% think cryptocurrencies equally used for legal and illegal purchases. Hispanic Americans are particularly likely to believe that cryptocurrencies mostly used for legal purchases.”

On a cup half empty, cup half full tone, the survey reveals, “Of the people who believe that cryptocurrencies will become widely accepted, over one-third (36%) say they would be interested in converting to primarily using a cryptocurrency rather than the US dollar. Nevertheless, a majority (57%) say they would not be interested in converting away from the US dollar. Millennials almost evenly split between being interested (48%) and not interested (50%).”


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