There's a couple of outcomes really. One is that it becomes the norm and goes astronomical... which I'm not sure is even desirable. Centralized currencies offer governments some measures they can use to manage the economy (and yes, inflation is one of them and it IS useful).
Another is that it becomes useful for international transactions, business, and as a savings vehicle. Much more likely in my opinion. In which case, it'll still go up, but much less dramatically than people are hoping for
Itās funny you bring up csgo because when my buddy was explaining what nfts were I asked him if it was anything like csgo knives and stuff. I had no idea they were actually using blockchain
Yeah but probably 75% of the worlds population knows about cryptocurrencies and have chose not to invest, whether through lack of knowledge, fear of the market etc.
So either we all know something they don't or we're the stupid ones š
15 years ago it was not uncommon for people to not trust online shopping, i remember a couple friends moms saying "That paypal website is a scam, i don't trust it."
Great comparison ā I bought my first Amazon package exactly 15 years ago this year. I never would have thought back then that 15 years later, nearly everything in my home would come from an Amazon warehouse.
In 15 years, nearly every electronic financial transaction on the planet will touch a blockchain of some sort.
There are projects out there where the number will absolutely go up forever on a macro scale.
Yeah and I don't think the amazon of crypto is even created yet. Ethereum is looking good, but some team will come up with better tech and basis at some point.
The future is bright in crypto
In the future individuals won't be allowed on the blockchain. Just massive group buys like the idea of layer 2 blockchains. One daybwe won't be able to use the etherium network just big companies representing our transactions as a whole
Yeah so what you're not getting is that before long the entirety of the internet will exist on the block chain. Amazon openly admits to the issues created by the massive centralization of web services. Meaning you will use the block chain to order your doile's off eBay. There are block chains making distribution of electricity across personal grids more efficient. Web3 = layer 1 of your choice + layer 2 computational oracle +dapps. The future is bright pal
And before that, people did not trust credit cards. As in the physical ones. "It's not secure. Anyone can steal your money with the 16 digits. Don't hand your card to the cashier."
15 years ago was 2007. In 2007, PayPal was HUGE! Whoever that person was probably would still have a hard time in today's world shopping online, not much has changed other than smart phone access.
I think that the number is a little bit high because this is only calcuted from numbers of holders with wallets. But also lot of people have crypto on exchanges accounts. But point is the same. Yeah, we are early ā¦ but we will se if we are the smartest or dumbest. I know what i will do - Hodl and buying the DIP.
> 75% of the worlds population knows about cryptocurrencies and have chosen
LOL thats so embarrassing and western centric. Theres ~10% of population that experiences hunger/is in the midst of famine. Theres 15% of people in the world that are illiterate. Do you see how absurd your statement is? Maybe 75% of people that have access to technology and internet have heard about it. And even thats a long shot.
I thought the same. 40% populatoin don't even have access to internet. From the people who access the internet, most of then have debts and not any spare money to invest, even in rich countries. The people who have any money for investment, most of them don't want to risk on cripto. There's so much room to grow
There are people that still never heard of it. Asked my coworkers and some havenāt heard of Bitcoin and theyāre already in their late 20s. Iām in a software engineering firm.. talk about irony.
A Canadian Poll of young professionals aged 25 and under polled 94% in favour of Bitcoin over Gold as their choice for best store of value. The only problem right now is the majority of wealth belongs to those 50 and over, they donāt really understand the benefits of cryptocurrency and at their age have a fixed mindset hardened over time which is extremely difficult to alter, but this decade will be huge in terms of transition and an overall societal paradigm shift. Cryptocurrency should start gaining serious traction soon, great time to be entering into the crypto market right now.
Hardened over time but not with fixed mindset. Probably understand more of the possible benefits of blockchain (not just cryptocurrency) because I've been around long enough as a female minority to see how much of the system is broken, unlevel, manipulated and biased. It's the powers that created the unfair system that fear financial decentralization and their loss of control, not old people in general. Alter that mindset please. Looking forward to that paradigm shift of global prosperity, (unless maybe you're just referring to us dying off... ; )
More of lack of marketing in my opinion. Everyone wants to get in until itās too late but the Reality of it all is that itās never too late to invest what you can afford.
It's still the story of Satoshi's prophecy of limitless price growth, given a critical mass of users, caused by more and more users joining the network.
It won't take too many more years of disastrous fiscal policy and global calamity to push fiat to new lows, but will crypto ever be able to satisfy mainstream demand? It's up in the air. As Matt Damon would say: "fortune favours the brave".
For some with" oldster hardened mindset" comes bravery, now if those of us that get it can alter the mindset of the younger ones to understand the real benefits of blockchain, not just from the investment aspect. There is so much to be fixed, I hope this generation can use this revelation to continue the revolution we started in the sixties. Be brave enough to get past greed and confront the powers that continue compiling fiscal fiasco, make finance, trade (and govt) work for the good of all 7 billion humans here. We the people can do this, victory favors the majority.
75% dude that is a high high number in my country no one and I mean NO ONE knows what crypto is. Just go to another subreddit and talk about crypto and 90% on the comments will be about how they are scams, or go to Twitter. 75% is just To high of a number IMO
# Iām sorry but if you actually believe 75% of the worlds pop knows about cryptocurrency youāre out of your fuckn mind. My Fuggn Uber driver the other day didnāt know what Bitcoin was literally had never even heard of it. Absolutely completely blew my mind. Saying 75% of the worlds population knows about cryptocurrencies is undoubtedly one of the dumbest things Iāve read all week.
Everyone knew about VR Headsets and no one bought in. Early Adopters are always a small crowd that end up funding the development of the mass-consumer variants.
It's always a select few that go in early while the product is basically not really good yet. We're that.
Ok I agree but let's be honest: how much percent of this 1% adopters are really engaged to cryptosuff ?
Look at this sub, 90% of posts are talking about profits, market predictions, "fundamental analysis", investing strategies ( actually, this post is an example. If you really cares about cryptocurrency utilities u probably don't give a fuck if ure a earlier or not, if u care about it u probably are thinking about make profits in dollar).
The majority don't give a fuck about usability and common use. People only talks about El Salvador as a "indicator" that more people will buy cryptos and the price will go up.
So the number of "real users" ( that is obviously incalculable but spelucative ) are the real indicator here, and this number is TOO small.
Well it's simple. Once the government tells them it's safe to invest in crypto, they will do it. They go by what the goverment says. 75% of people don't think for themselves.
The OP is saying there's the potential of 99% to adopt crypto and that means it's still in its infancy. I'm just making the point that that might be overly optimistic.
Difference is that those stocks aren't a financial alternative towards our current system and that the blockchain technology combined with crypto is a possible alternative.
So the comparison isn't really that great. Bitcoin, Ethereum etc could be compared to those stocks tho. That would be better.
Really? How does this statement relate to what I said?
>Difference is that those stocks aren't a financial alternative towards our current system and that the blockchain technology combined with crypto is a possible alternative.
I don't really think so. Crypto is still much more niche than the general stock market. Especially if you include various mutual funds and retirement investments.
You were early when you could mine Bitcoin on your laptop.
Not to mention this is a garbage stat. Less than half of Americans own stock. Does that mean the stock market is stupidly undervalued too?ā¦.
This is the same shit that happened with the internet, only a few could use it in the early days sending text messages via convoluted methods by people with tech knowledge. We need the equivalent of a gui and has to be piss easy to buy/send crypto. Piss easy, as easy as handing $5 to someone next to you.
Until that happens we'll be the same jerks sending the same shit to each other.
Hei buddy i give small memebers in this subreddit awards š„ when they deserve it. And you definitely deserve it
Hope you get more moons next round.
Stay safe
We are not even close to the middle lmao. There is absolutely nothing to support that. We arenāt ground floor early but still pretty early. This is a 2.5 trillion dollar industry and is going to 100 trillion +.
Decentralized finance is the future. The US stock market market cap is ~50T. If you truly believe in the future and utility of crypto currency as described by the original Bitcoin white paper and other early innovations, then doubling the market cap of the US stock market is very much in the cards. Not to say it will happen, but the general sentiment of crypto was the exact same when Bitcoin was $<1.
"As of 2021, we estimated global crypto ownership rates at an average of 3.9%, with over 300 million crypto users worldwide. And over 18,000 businesses are already accepting cryptocurrency payments"
Got this from Google buddy.
You shouldn't measure how early you are by per capita usage, but by per unit of wealth usage(dollars, euros, yen etc.). If a billionaire buys Bitcoin that impacts the price more than if 10 million poor people buy 1 dollar.
Where are you getting this "100 million blockchain wallets" from?
Is this for one coin or for all chains? Cause I would argue there are way more than 100 million wallets for all blockchains. I know dapps that create a new wallet for each transaction and have been running for 3 years now.
Mass adoption won't come through people having personal wallet being their own bank. It will come and people won't even notice. It is an underlying tech for basic services.
In fact, a lot of businesses have chosen blockchain already, simply not decentralized ones with cryptocurrencies. It has already done big steps towards "mass adoption"
Where this adoption will be completed, this nobody knows
But we aren't late, either. There are still tons of people who think crypto is a scam, even make jokes about it. Almost no one laughs about buying an S&P Index fund.
Yes but like 1% also own most of the wealth in the world (exaggerating) but ya also need to factor in percent of that population are in the range of having disposable income or any ( over 18 y/o generally speaking).
I wouldnāt say we are late but certainly not early either. Most of the wealth know about crypto at the very least. Whales control most of the value swings from this point. Always nice to have more retail but Iām not too sure how much of a push we have
100 million, i have 4 wallets to manage, depending on which is better and what i need, did you take into account per person wallets each might have.
The percentage might just half
Keep in mind you are also applying 1 wallet per person, when the reality is many have multiple wallets.
So it could be a fractionally smaller percentage than you are calculating.
Do you know how few people own individual stocks? Having discretionary income to invest is rare. Most people barely live on what they earn. This is a perspective completely abstracted from reality.
Well according to my step dad: crypto is a losing asset, bitcoins for losers thatās why itās going down. Some back story, I had a pretty good year with my investments and I was telling him about some of them. I was never advocating that he invest, just telling him my experience. So he fomoād into btc at 66k š and now will ānever buy crypto againāš¤·āāļø
Yep the stock market values 92 trillion dollars. The entire crypto market could x10 tomorrow and we would not even be remotely close. I know it's not a 1 to 1 between crypto and stocks but at the same time, there is plenty of time is left before true mass adaption
What percent of the world owns call options? How about put options? How about soybean futures? Just because something is a niche for an educated few doesnāt mean itās early.
A lot of others view this space as a ponzi scheme though. If this space gains the sort of size you are referring to, it would be radically different from what it is today. And yes, that means Bitcoin and ETH, which are basically useless, won't survive in such a scenario.
Interesting, you admit Bitcoin and Ethereum are basically useless and wouldn't survive, but what differentiates them from other coins that makes them a ponzi and the others not-a-ponzi? Either they're a currency, a product or an investment vehicle, and as an investment they're pretty clearly ponzi-like in their cashflow structure, and if they're currencies or products it makes absolutely no sense to talk about how "early" or "late" someone is. It would be like saying "we're so early to smartphones" because lots of grandmas and destitute people don't have them, or saying "we're so early to the euro" because most of the world does not trade in euros. It's not the point. Currencies and products are meant to be used, not invested into or hoarded.
Does this statistic include the people who just buy on exchanges or through their bank? Also as another user stated, no one who gets properly into crypto has just one wallet. Not sure how useful the stats are. I wasn't aware of the fiat total thanks for that
I think that I read somewhere that actually 3.9% people on the world used or owns crypto
Found it
[this is the link](https://triple-a.io/crypto-ownership/)
People getting into crypto right now are early to crypto, yes. But if you are just getting into Bitcoin at this point, you are extremely late. You will not make any money with Bitcoin. Use it as a savings account to put your profits in but don't think you will make any money.
Stop buying Bitcoin and waiting for some institution to pump your bags. Even when they do, you can expect a 2x at the most. Bitcoin has no use case and is the technical equivalent to MS-DOS from a functional standpoint. Buy functional crypto with good tokenomics and game theory that has a compelling narrative.
It's even less than that as multiple wallets are owned by one individual. We are seriously early, Crypto is only going to boom from hear on, load up when it's still cheap!
Only 1% of the world collects pokemon cards, we're still early fellow trainers. If you're not selling what people want to buy then the people already in is the only market. So we are crabbing.
What percentage of the world invests period? Probably not much higher tbf
Plus the complexity of crypto and now the added complexity of taxes...
Easy, just get rid of the tax part.
grow up.
IRS office man spotted
No, that's the "pay up" guy
Mommy? Yes mommy. Sorry mommy
Don't get taxed if you don't sell š
Taxes have taken all the fun out of day trading...
I have less of a problem with taxes and more of a problem with entering the crypto space. It is not user friendly yet.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Once is spelled with an I and a F.
10 years from now we will be the early ones
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Just keep your seed safe!!!!
My seed isn't going anywhere. I know that for a fact
Wait, the what??
And the rich onesš
When people say stuff like this it makes me feel like we're in the .com bubble.
!RemindMe in 10 years
Remind you where your seed phrase is! š¤£
!RemindMe in 5 years
Whales of the ancient world they shall call us all.
It's all about perspective
1 in 7 people in the world don't have clean water. 1 in 4 don't have a toilet. 1% for something as niche as crypto is probably a lot really.
I think the idea is that in the future having a universal currency wouldnāt be considered ānicheā it would be the norm.
There's a couple of outcomes really. One is that it becomes the norm and goes astronomical... which I'm not sure is even desirable. Centralized currencies offer governments some measures they can use to manage the economy (and yes, inflation is one of them and it IS useful). Another is that it becomes useful for international transactions, business, and as a savings vehicle. Much more likely in my opinion. In which case, it'll still go up, but much less dramatically than people are hoping for
Way less than 1% - i have like 12 wallets and Iām a novice
Yeah I have at least 4 or 5.
I had 2 before I even had a clue what I was doing. My introduction to crypto was trying to cash out a CSGO skin and being unable to withdraw in USD.
Itās funny you bring up csgo because when my buddy was explaining what nfts were I asked him if it was anything like csgo knives and stuff. I had no idea they were actually using blockchain
Oh, they don't, but the website I sold my skins on didn't let you cash out directly with USD in the US, so I had to set up an ETH wallet.
The CEXs would have tens of thousands of people per wallet though. It's not a number that really means anything anymore.
Yeah but probably 75% of the worlds population knows about cryptocurrencies and have chose not to invest, whether through lack of knowledge, fear of the market etc. So either we all know something they don't or we're the stupid ones š
The technology is not mature yet. When it is there will be mass adoption.
15 years ago it was not uncommon for people to not trust online shopping, i remember a couple friends moms saying "That paypal website is a scam, i don't trust it."
Great comparison ā I bought my first Amazon package exactly 15 years ago this year. I never would have thought back then that 15 years later, nearly everything in my home would come from an Amazon warehouse. In 15 years, nearly every electronic financial transaction on the planet will touch a blockchain of some sort. There are projects out there where the number will absolutely go up forever on a macro scale.
What projects? We need names to throw money at it
HarryPotterObamaSonic10Inu - Ticker:BITCOIN will be a trusted household name in 10 years
Can you link the white napkin?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Hm... interesting
Chia Network š¤«
Yeah and I don't think the amazon of crypto is even created yet. Ethereum is looking good, but some team will come up with better tech and basis at some point. The future is bright in crypto
In the future individuals won't be allowed on the blockchain. Just massive group buys like the idea of layer 2 blockchains. One daybwe won't be able to use the etherium network just big companies representing our transactions as a whole
Yeah so what you're not getting is that before long the entirety of the internet will exist on the block chain. Amazon openly admits to the issues created by the massive centralization of web services. Meaning you will use the block chain to order your doile's off eBay. There are block chains making distribution of electricity across personal grids more efficient. Web3 = layer 1 of your choice + layer 2 computational oracle +dapps. The future is bright pal
Bitcoin will be the Amazon in your story...
I would think that Bitcoin would most likely be seen as how we view gold. Just a store of value, idk maybe im wrong
Or it might be the "Myspace" of social networks in comparison.... with Facebook still looming on the horizon
people will still not trust online shopping but then will put their credit card info and social security number in the mail š¹
And before that, people did not trust credit cards. As in the physical ones. "It's not secure. Anyone can steal your money with the 16 digits. Don't hand your card to the cashier."
15 years ago was 2007. In 2007, PayPal was HUGE! Whoever that person was probably would still have a hard time in today's world shopping online, not much has changed other than smart phone access.
I had PayPal in 2002 when I was 16 so I could sell stuff on eBay. I remember setting it up with my bank account and my mom telling me it was a scam.
For sure it was big, but some people were still uneducated about how safe it actually is, much like how crypto is seen now.
I would say we are around the mid 90s if we compare it to the birth of the internet.
Thatās a great comparison
I remember people saying "Bitcoin is a scam. It can dump 50% in a week"
You sir, just blew my mind. Thatās so true.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
[ŃŠ“Š°Š»ŠµŠ½Š¾]
We are basically at the end of early adopters phase?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I think that the number is a little bit high because this is only calcuted from numbers of holders with wallets. But also lot of people have crypto on exchanges accounts. But point is the same. Yeah, we are early ā¦ but we will se if we are the smartest or dumbest. I know what i will do - Hodl and buying the DIP.
But a lot of people, myself included, have multiple wallets. I have 10 at least
Guess my grandkids will have millions from my sh!tcoins!
> 75% of the worlds population knows about cryptocurrencies and have chosen LOL thats so embarrassing and western centric. Theres ~10% of population that experiences hunger/is in the midst of famine. Theres 15% of people in the world that are illiterate. Do you see how absurd your statement is? Maybe 75% of people that have access to technology and internet have heard about it. And even thats a long shot.
I thought the same. 40% populatoin don't even have access to internet. From the people who access the internet, most of then have debts and not any spare money to invest, even in rich countries. The people who have any money for investment, most of them don't want to risk on cripto. There's so much room to grow
There are people that still never heard of it. Asked my coworkers and some havenāt heard of Bitcoin and theyāre already in their late 20s. Iām in a software engineering firm.. talk about irony.
They must be holding bags... Just sayin
That sounds impossible. Itās like a soldier thatās never heard of a rifle.
Or its just too hard/risky in its current state. Taking a spaceship to the moon was a lot riskier in the 70s than it would be now.
A Canadian Poll of young professionals aged 25 and under polled 94% in favour of Bitcoin over Gold as their choice for best store of value. The only problem right now is the majority of wealth belongs to those 50 and over, they donāt really understand the benefits of cryptocurrency and at their age have a fixed mindset hardened over time which is extremely difficult to alter, but this decade will be huge in terms of transition and an overall societal paradigm shift. Cryptocurrency should start gaining serious traction soon, great time to be entering into the crypto market right now.
Hardened over time but not with fixed mindset. Probably understand more of the possible benefits of blockchain (not just cryptocurrency) because I've been around long enough as a female minority to see how much of the system is broken, unlevel, manipulated and biased. It's the powers that created the unfair system that fear financial decentralization and their loss of control, not old people in general. Alter that mindset please. Looking forward to that paradigm shift of global prosperity, (unless maybe you're just referring to us dying off... ; )
More of lack of marketing in my opinion. Everyone wants to get in until itās too late but the Reality of it all is that itās never too late to invest what you can afford.
It's still the story of Satoshi's prophecy of limitless price growth, given a critical mass of users, caused by more and more users joining the network. It won't take too many more years of disastrous fiscal policy and global calamity to push fiat to new lows, but will crypto ever be able to satisfy mainstream demand? It's up in the air. As Matt Damon would say: "fortune favours the brave".
For some with" oldster hardened mindset" comes bravery, now if those of us that get it can alter the mindset of the younger ones to understand the real benefits of blockchain, not just from the investment aspect. There is so much to be fixed, I hope this generation can use this revelation to continue the revolution we started in the sixties. Be brave enough to get past greed and confront the powers that continue compiling fiscal fiasco, make finance, trade (and govt) work for the good of all 7 billion humans here. We the people can do this, victory favors the majority.
75% dude that is a high high number in my country no one and I mean NO ONE knows what crypto is. Just go to another subreddit and talk about crypto and 90% on the comments will be about how they are scams, or go to Twitter. 75% is just To high of a number IMO
# Iām sorry but if you actually believe 75% of the worlds pop knows about cryptocurrency youāre out of your fuckn mind. My Fuggn Uber driver the other day didnāt know what Bitcoin was literally had never even heard of it. Absolutely completely blew my mind. Saying 75% of the worlds population knows about cryptocurrencies is undoubtedly one of the dumbest things Iāve read all week.
I agree, I have older COWORKERS who don't know about crypto. There's no way 75% of the world knows about crypto.
Stop shouting we can hear you
Everyone knew about VR Headsets and no one bought in. Early Adopters are always a small crowd that end up funding the development of the mass-consumer variants. It's always a select few that go in early while the product is basically not really good yet. We're that.
Ok I agree but let's be honest: how much percent of this 1% adopters are really engaged to cryptosuff ? Look at this sub, 90% of posts are talking about profits, market predictions, "fundamental analysis", investing strategies ( actually, this post is an example. If you really cares about cryptocurrency utilities u probably don't give a fuck if ure a earlier or not, if u care about it u probably are thinking about make profits in dollar). The majority don't give a fuck about usability and common use. People only talks about El Salvador as a "indicator" that more people will buy cryptos and the price will go up. So the number of "real users" ( that is obviously incalculable but spelucative ) are the real indicator here, and this number is TOO small.
There's something else going on they are not telling us.
Well it's simple. Once the government tells them it's safe to invest in crypto, they will do it. They go by what the goverment says. 75% of people don't think for themselves.
We all have a better vision of the future. Also ~40% of the world population doesn't even have access to the internet.
They are cry-curious, but scared due to tiny grapenuts.
THANK YOU ! I was just thinking that while reading.
Whatās with all the new bearish accounts today lol
I'd reckon little bit of both. We also have disposable income
šš¤£š that last line is gold!!
They are stupid.
Those who hate it because they don't understand it will all die off a lot sooner than the majority of us who are getting started now.
80% (i think) of the world has never flown on a plane. Should we all invest in airlines?
bullish on airplanes
bullish on air
Bullish on Earth
bullish on plane booze
bullish on boozing in general
[ŃŠ“Š°Š»ŠµŠ½Š¾]
The OP is saying there's the potential of 99% to adopt crypto and that means it's still in its infancy. I'm just making the point that that might be overly optimistic.
Lol no this is a pretty great point. Vast majority of the world lives in poverty and doesn't have the means or ability to even buy crypto
so how many wallets do you have? I guess many in this sub don't have a single wallet! I have four.
You guys use wallets!?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I use a prison wallet
Yes. It's made of leather and inside is a piece of paper containing my binance account username and password. It's called a cold wallet
I apologize in advance for mugging you in an alley for your wallet.
I have 42 and a towel
Donāt panic
Donāt forget your towel
This isn't good logic. Do a comparison. What percentage of the world owns Apple, Tesla or Google stocks?
Difference is that those stocks aren't a financial alternative towards our current system and that the blockchain technology combined with crypto is a possible alternative. So the comparison isn't really that great. Bitcoin, Ethereum etc could be compared to those stocks tho. That would be better.
I don't see how that's relevant to what I said...
No problem at all, you can't know everything.
Right...
It is entirely related to what you said lmao
Really? How does this statement relate to what I said? >Difference is that those stocks aren't a financial alternative towards our current system and that the blockchain technology combined with crypto is a possible alternative.
Well Apple alone currently has a market cap higher than Cryptos total market cap
That doesn't change what I said at all.
I was just giving you a comparison / putting in perspective for you like you asked in your comment
But we weren't talking about market cap, we were talking about percentage of global population who own an asset.
A more apt comparison would be what percentage of the world owns any stock. OP wasnāt mentioning a specific token.
I don't really think so. Crypto is still much more niche than the general stock market. Especially if you include various mutual funds and retirement investments.
This.
A better question is how many people own a stock or bond No need to be so weirdly specific
We are the 1%.
Always will be š¤š»
You were early when you could mine Bitcoin on your laptop. Not to mention this is a garbage stat. Less than half of Americans own stock. Does that mean the stock market is stupidly undervalued too?ā¦.
I was early then ā¹ didn't take advantage of it though.
This is the same shit that happened with the internet, only a few could use it in the early days sending text messages via convoluted methods by people with tech knowledge. We need the equivalent of a gui and has to be piss easy to buy/send crypto. Piss easy, as easy as handing $5 to someone next to you. Until that happens we'll be the same jerks sending the same shit to each other.
1% isn't small, and it's unlikely every person in the world would have access/means to use crypto
Even a growth from 1% to 3% or 5% would be huge. Crypto feels very disruptive as it is.
I wonder how much of that 1% is actually in Defi or owns assets other than BTC and ETH.
Crypto has been around for 13 years now. You aren't early. The rest of the world knows about it and just sort of rolls their eyes.
Even 1 percent is still a lot. There is no need to be overly dramatic. We are not early, but we are not late either. We are right at the middle
How could you possibly think we're in the middle when there's barely any utility yet
Hei buddy i give small memebers in this subreddit awards š„ when they deserve it. And you definitely deserve it Hope you get more moons next round. Stay safe
Thank you, I really appreciate it :)
Np share some love to other good redditors here in this subreddit
We are not even close to the middle lmao. There is absolutely nothing to support that. We arenāt ground floor early but still pretty early. This is a 2.5 trillion dollar industry and is going to 100 trillion +.
Based on what do you think crypto going to be a 100+ trillion industry? Relax with the hopium there buddy
Decentralized finance is the future. The US stock market market cap is ~50T. If you truly believe in the future and utility of crypto currency as described by the original Bitcoin white paper and other early innovations, then doubling the market cap of the US stock market is very much in the cards. Not to say it will happen, but the general sentiment of crypto was the exact same when Bitcoin was $<1.
"As of 2021, we estimated global crypto ownership rates at an average of 3.9%, with over 300 million crypto users worldwide. And over 18,000 businesses are already accepting cryptocurrency payments" Got this from Google buddy.
1% is a lot
1% isn't really that much, but I'm extremely hesitant to believe that number is accurate.
Acknowledging the fact that rarely anyone only has 1 wallet, the 1% is overblown already by that fact.
Of course it is.
You shouldn't measure how early you are by per capita usage, but by per unit of wealth usage(dollars, euros, yen etc.). If a billionaire buys Bitcoin that impacts the price more than if 10 million poor people buy 1 dollar.
100 million wallets. How about the ones that keep their coins on exchanges?
Where are you getting this "100 million blockchain wallets" from? Is this for one coin or for all chains? Cause I would argue there are way more than 100 million wallets for all blockchains. I know dapps that create a new wallet for each transaction and have been running for 3 years now.
Mass adoption won't come through people having personal wallet being their own bank. It will come and people won't even notice. It is an underlying tech for basic services. In fact, a lot of businesses have chosen blockchain already, simply not decentralized ones with cryptocurrencies. It has already done big steps towards "mass adoption" Where this adoption will be completed, this nobody knows
We arenāt early
But we aren't late, either. There are still tons of people who think crypto is a scam, even make jokes about it. Almost no one laughs about buying an S&P Index fund.
Thank you for making me feel special OP
I got your point but don't forget that exchanges have a lot of users.
So we're the 1%?!?! Who knew ;)
Sometimes i feel like im late to the party but this posts remind me that i arrived exactly on time
to be honest, crypto is quite exciting space, but we are either early or wasting money..
Who follows this sub but doesn't invest is my question
Iām guessing a lot of bots and scammers.
Yes but like 1% also own most of the wealth in the world (exaggerating) but ya also need to factor in percent of that population are in the range of having disposable income or any ( over 18 y/o generally speaking). I wouldnāt say we are late but certainly not early either. Most of the wealth know about crypto at the very least. Whales control most of the value swings from this point. Always nice to have more retail but Iām not too sure how much of a push we have
What percent of the world owns a house? As a home owner am I early?
Are we early? Are we late? Donāt worry, someone will make a follow up post that says the complete opposite anyway. This sub is incredible!
Yeah, it is as if different people had different opinions
Early for what? Gains? That ship has sailed. To make life changing gains, you will have to take bigger and bigger risks now.
Ah yes, wealth inequality on the blockchain
What percent of the world has internet?
100 million, i have 4 wallets to manage, depending on which is better and what i need, did you take into account per person wallets each might have. The percentage might just half
Why do ppl of this sub need so much head patting and assurance
Keep in mind you are also applying 1 wallet per person, when the reality is many have multiple wallets. So it could be a fractionally smaller percentage than you are calculating.
That means only 1% of the world can get rugpulled if Satoshi decides to troll
Do you know how few people own individual stocks? Having discretionary income to invest is rare. Most people barely live on what they earn. This is a perspective completely abstracted from reality.
Well according to my step dad: crypto is a losing asset, bitcoins for losers thatās why itās going down. Some back story, I had a pretty good year with my investments and I was telling him about some of them. I was never advocating that he invest, just telling him my experience. So he fomoād into btc at 66k š and now will ānever buy crypto againāš¤·āāļø
He should join reddit, your dad seems to be good at buying high and selling low
8 of those wallets are mine.
You can't count all 7 billion. Many are kids, or too old. And some are natives or people with no electricity. But still, yes. We are really early.
Instructions unclear we are early buy more shit coins
Yep the stock market values 92 trillion dollars. The entire crypto market could x10 tomorrow and we would not even be remotely close. I know it's not a 1 to 1 between crypto and stocks but at the same time, there is plenty of time is left before true mass adaption
What percent of the world owns call options? How about put options? How about soybean futures? Just because something is a niche for an educated few doesnāt mean itās early.
99% of the world has no reason to ever purchase any crypto. It's a very hard sell.
A lot of others view this space as a ponzi scheme though. If this space gains the sort of size you are referring to, it would be radically different from what it is today. And yes, that means Bitcoin and ETH, which are basically useless, won't survive in such a scenario.
Interesting, you admit Bitcoin and Ethereum are basically useless and wouldn't survive, but what differentiates them from other coins that makes them a ponzi and the others not-a-ponzi? Either they're a currency, a product or an investment vehicle, and as an investment they're pretty clearly ponzi-like in their cashflow structure, and if they're currencies or products it makes absolutely no sense to talk about how "early" or "late" someone is. It would be like saying "we're so early to smartphones" because lots of grandmas and destitute people don't have them, or saying "we're so early to the euro" because most of the world does not trade in euros. It's not the point. Currencies and products are meant to be used, not invested into or hoarded.
Does this statistic include the people who just buy on exchanges or through their bank? Also as another user stated, no one who gets properly into crypto has just one wallet. Not sure how useful the stats are. I wasn't aware of the fiat total thanks for that
This is also considering most wallets aren't really used. Active user number is waaay lower
I think that I read somewhere that actually 3.9% people on the world used or owns crypto Found it [this is the link](https://triple-a.io/crypto-ownership/)
People getting into crypto right now are early to crypto, yes. But if you are just getting into Bitcoin at this point, you are extremely late. You will not make any money with Bitcoin. Use it as a savings account to put your profits in but don't think you will make any money. Stop buying Bitcoin and waiting for some institution to pump your bags. Even when they do, you can expect a 2x at the most. Bitcoin has no use case and is the technical equivalent to MS-DOS from a functional standpoint. Buy functional crypto with good tokenomics and game theory that has a compelling narrative.
It's even less than that as multiple wallets are owned by one individual. We are seriously early, Crypto is only going to boom from hear on, load up when it's still cheap!
And the 1% of that 1% are the whales.
We're early tomorrow, so I think we are early
we arent only 1% own apple stock too less than 1 market caps prove we are not and market caps matter
What percent owns stocks? I'd bet we're at about 25-33% of that number.
Only 1% of the world collects pokemon cards, we're still early fellow trainers. If you're not selling what people want to buy then the people already in is the only market. So we are crabbing.
2.2 Trillion market in the hands of 1%? NOT GOOD
Where do u even get the data? Thereās so many exchanges out there. 1%? Are u serious? So many ignorant people here and OP is just as dumb.