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Bitcoin [BTC] reigns as popularity king; 71% of Americans know about it, 36% for widespread use in 10 years

Anirudh VK

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Bitcoin [BTC] reigns as popularity king; 71% of Americans know about it, 36% for widespread use in 10 years
Source: Unsplash

71% of Americans know about Bitcoin [BTC], making it the most well-known cryptocurrency, according to research by YouGov. The survey, which was conducted through YouGov Omnibus, also found that Ethereum [ETH] is the second most-known cryptocurrency, with 13% of citizens knowing about it.

Behind Ethereum came Litecoin [LTC], with 11% of respondents stating that they have heard about it. Other notable mentions include Dash [DASH] with 10% and XRP with 7%. 21% stated that they have not heard of any cryptocurrency at all.

The research also provided data on the gender split between knowledge of cryptocurrencies, with men more likely to have heard of cryptocurrencies than women. 27% of women stated that they have not heard of any cryptocurrency, compared to men, out of which only 16% replied negatively.

In those that had heard about Bitcoin, 87% admitted that they did not have any involvement with the cryptocurrency. This includes any activities such as trading or mining the cryptocurrency. 49% felt that not buying Bitcoin earlier was a good thing and that they have no future plans for doing so. However, 15% felt that it was too late to buy the coin and that they wish that they had bought it earlier.

As a bullish news for long-term HODLers, 36% of individuals reportedly stated that they see cryptocurrencies become widely used as a method of transacting value in the next 10 years. This has been the dream of cryptocurrency enthusiasts worldwide, to see the technology being used to move value worldwide. Out of this group, it seems as the millennials are the most likely to believe this will occur, with 44% of them replying positively.

Out of the respondents who believed that the technology will become accepted, 36% stated that they would “be interested in” converting to using a cryptocurrency as a primary means of transacting value. 57% stated that they would not convert, thus showing that a majority would not switch from the safety of fiat currencies.

YouGov also stated that a near-equal amount of respondents did not consider that cryptocurrencies could be adopted widely in the mainstream. However, the research also said that around 25% of the respondents believed they are used for illegal purchases more than they are for legal ones. 17% stated that they are used for legal, and 19% said that they were used equally for both.





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Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and interest towards the future of blockchain technology and cryptocurrencies. He does not own any cryptocurrencies currently.

Bitcoin

Bitcoin continues to scale new heights after Wasabi Wallet records first ever 100-person CoinJoin

Priya

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Bitcoin [BTC] rises in the market as cryptocurrency continues to mark new milestones
Source: Unsplash

Bitcoin [BTC], the largest cryptocurrency in the market, has successfully breached the $9000 mark, boosting the market sentiment. Notably, the digital currency was not the only coin to rise in the market as other coins such as Ethereum [ETH] also registered a significant rise in the market.

According to CoinMarketCap, at press time, Bitcoin was trading at $9181, with a market cap of $163.101 billion. The 24 hour trading volume of the cryptocurrency was recorded to be nearly $22.778 billion, with the coin recording a significant rise of over 17 percent in the past week.

Keeping the price surge aside, the coin has constantly been in the headlines with news pertaining to its development and new milestones. The coin was placed in the limelight of the cryptocurrency space after report by researchers at the Technical University of Munich [TUM]  claimed that Bitcoin’s carbon footprint was between 22 and 22.9 megatonnes/year, almost the same as that of Vienna or Las Vegas.

Further, the coin recently marked a new milestone after Bitcoin surpassed a million daily active addresses, with the last record on the same dating back to November 2017. Weiss Ratings heralded the same, tweeting,

“Bitcoin passed an interesting milestone – there are now over a million daily active addresses – an important metric that shows actual, unique transfers separate from the various direct transfers to and from bigger exchanges.”

Additionally, the coin was in the news again after Wasabi Wallet, an open-source non-custodial Bitcoin wallet, completed the first ever 100 participants CoinJoin, the largest CoinJoin transaction in terms of participants. Aviv Milner reported the same on Twitter,

“Huge Congratulations – @wasabiwallet just did the first ever 100 person CoinJoin, likely the largest in Bitcoin History. (link) A monumental achievement in Bitcoin privacy. Credit to the team @lontivero @molnardavid84 @nopara73 @dwuk86 @NicolasDorier and others!”

Days after this achievement, a Redditor highlighted that the largest CoinJoin transactions, in terms of inputs, was completed on June 17, 2019, with a total of 125 inputs. Golden Wiki describes CoinJoin as,

“A digital currency platform that enables multiple users to combine all inputs and outputs from different transactions into a single transaction. Privacy is achieved in a way that when a transaction is broadcast, it will not be possible to determine which Bitcoins went where.”





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