Bitcoin Survey 2016: Female Presence, Lost Funds And Why People Don’t Like Bitcoin

Surveys are a great way to gain more valuable insights as to how people perceive and use Bitcoin. The 2016 edition of the Bitcoin Survey has been published a few minutes ago and provides some vital information. It is positive to see the growth of the Bitcoin ecosystem all over the world, even though there is still a very long way to go.

The Bitcoin Survey 2016 Is A Great Success

When conducting a survey about a niche market such as Bitcoin, one never knows what to expect at first. The 2016 edition of the Bitcoin Survey collected responses from 68 different countries, and respondents provided their responses in 12 different languages. Unfortunately, the number of replies from Russia was very low, and China did not participate at all.

As was to be expected, Bitcoin remains a very male-oriented world, which is not entirely surprising. Just over 5% of all respondents are female, and we need to come up with ways to increase this number. Interestingly enough, the majority of Bitcoin users is either 20 years old, or between 25 and 39. There does seem to be a small uptake in “older generation” adopters as well, albeit it is rather minimal.

One factor that is always interesting is finding out when people got involved in Bitcoin for the first time. The 2016 Bitcoin Survey respondents indicate most of them learned about Bitcoin since 2013. Given the Bitcoin price boom during that year, this result is anything but surprising. Furthermore, only 9% of respondents have not used Bitcoin yet, whereas 65% received or sent a transaction recently.

One could argue people hate or love Bitcoin, and they wouldn’t be entirely wrong. The values of Bitcoin that people cherish are decentralization, its potential [to grow in value], and how cryptocurrency offers freedom. At the same time, people don’t like Bitcoin thanks to the media coverage, the currency being perceived as anonymous, and the complex nature of getting involved in cryptocurrency.

Losing Bitcoin funds can be a major setback for any cryptocurrency enthusiasts. With 16% of respondents indicating they lost funds due to an exchange hack, it becomes clear where the problems are to be found. Twelve percent of respondents noted they lost Bitcoin by losing access to their wallets. In most cases, this occurred due to getting rid of a device and not keeping a wallet backup.

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