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March 21, 2018, 07:16:42 AM
Merited by JayJuanGee (1)


This is great news. Only 8% currently own cryptos, and another 8% plan to. IOW, the number planning to get in will double the ranks of crypto owners. BullishAF.

Assuming that's correct, we'll be in for another mega-rally. Not entirely convinced about some of their numbers though. Adding up the amounts invested works out at around $70 billion, for example:

Coin___________Pop. %Avg. Invested (USD)Total Invested (USD)*
Bitcoin5.15%
3,453.89
57,631,610,000
Ethereum1.80%
1,243.42
7,251,625,000
Bitcoin Cash0.90%
636.22
1,855,218,000
Ripple0.85%
299.06
823,611,300
Cardano0.45%
84.22
122,792,760
Stellar Lumens0.40%
151.38
196,188,500
Other0.75%
388.33
943,641,900
68,824,685,880
*based on 324 million Americans.

Thats complete nonsense.  Not a chance 5% of americans have Bitcoin, let alone each one of them putting $3500 into it.

Can you elaborate why not?

I think that people speculate that the total world adoption is likely less than .5%..... which would be around 35million... and the article seems to be speculating about 17 million americans, when maybe less than 10 million would be more realistic, maybe even less than 5 million.
At my work I interact with hundreds of people of all ages and backgrounds on a day to day basis.  While many of them have heard of Bitcoin (largely due to the mania at the end of last year), I estimate 99%+ could not give detailed instructions on how to purchase, move, hold and secure BTC.  99.5% could not explain how BTC and its blockchain works.
I work with 50 people.  Only two of us have crypto, despite everyone talking about it last year and me convincing people they should get into the space.  None of them pulled the trigger.
If we are talking about 8% of 25-34 year old males, then maybe.  But 8% of everyone.  I just dont believe that.