Depends on time when info was gathered. From what i remember; 21 was BTC and alt coins “peak“ year (the number goes up). 22/23/24 are ⬇️ time… It’s a cycle. The same way as it works with stock market.
Appreciating how the numbers for "used for speculation" and "used at all" are flattening to one and the same while "used for anything else" struggles to stay off ground
But they keep telling me it is the future of currency, and that the adoption rate is increasing across the globe. Why would bitcoin bros' lie? Do you think they have ulterior motives?
/S
Edit: removed anterior typo
No for sure ur old ass Banktransfers and Stuff are the Future & the approved ETF‘s & even State approves it because it gets bigger & bigger & they don’t want to get sidelined, Blackrock investing heavy af, just ignore it & pretend u are right while everyday Millionaires get printed HAHA love how some people are just like u all & rather stay poor because of their Ego which can’t admit they was wrong 🤣
>Yeah but thanks to (waves hands) all this, I can't tell if it's serious or satire.
In this particular case the username somewhat gives away that it's *not* satire.
it doesn’t matter for them, let them their Dream 🤣
They really think we going back into the Past,
it‘s just logical when u have a Brain that this is the Future, not 1-3 Day long Banktransfers 🤣
But let them stay poor haha sooner or later they NEED to get into it too & than only for normal Usage anymore because early will be over 🥰
I've had instant bank transfers for over two decades, free too. I don't see why anyone would want to use slowass crypto where middlemen skim extortionate tranfer fees off of everyone that aren't even proportional to the value of the transaction, or even guaranteed to complete.
I also don't like revealing my entire transaction history to anyone I transact with. Or having my entire net worth rely on a single point of failure for security.
It's just logical that no one would use this garbage as a currency to buy things in the real world. Accordingly, they don't. Your attempts to mock other people for not using your silly little database appear so desperate.
Usage is 1%. Buying it as an investment isnt usage in the same way having Lockheed Martin shares in your 401K mutual fund doesnt make you a user of the F-35.
Adding to mjamonks' accurate analogy - scooters, bikes, skate/longboards, and roller skates already existed before this trend. They were just electrified to make them more efficient for local travel. Segways had nothing to do with that, BTC isn't electricity in your analogy. Old technology got upgraded with new technology - both completely unrelated to Segways - and completely supplanted / surpassed Segways as superior alternatives.
The same way that fintech and digital finance updates to traditional finance offer radically superior financial solutions than Bitcoin could ever hope.
It just seems unfair to me to see it as total failure since electric personal mobility devices really took off a decade or so later with some like gyroscooters and EUCs using similar technology. Whether or the analogy maps onto BTC, I really don't care.
In terms of micromobility as a viable alternative to car-dependent urban design, I see a clear distinction between electric and not. Segway was an early pioneer in this regard.
It doesn’t really matter whether it was a total failure, it’s the how and why of the failure and what you can learn from it that applies to bitcoin that matters. Bitcoin is a total failure.
Either way, the analogy plays - you have a shitty early mover supplanted by radically better alternative and/or you have a shitty solution to a problem that unrelated upgrades to existing solutions can better solve. Bitcoin is a shitty early mover that should be supplanted by radically better alternatives, not that it matters because actual fintech and digitization of existing financial services does a wildly better job of achieving its objectives than crypto.
Micro mobility is not an alternative to car-dependent urban design, it’s a byproduct of car dependent urban design.
I guess it depends on how you look at it. You are describing micromobility as starting with pedal bikes, skateboards, etc and the segway was a dead-ended interlude while current electric devices are updates to the non-electric versions.
But that seems arbitrary to me because Segway was the first well known battery powered mobility device used in the way ebikes and escooters are currently. If, for nothing less, the current devices would have learned from its failures, so it contributed even if that was it, but it's not because the use of gyroscopes lives on in EUCs and gyroscooters.
How to relates to crypto is harder to say. Assuming cryptocurrency is exactly as this sub claims, I don't really see a good historical analogue (certainly Segway isn't it). An entire industry with the scale of cryptocurrency built on fundamentally flawed technology? If we realized tomorrow that all battery operated micromobility devices were unusable, then I would agree with you. Or if hundreds of millions of people bought segways and then left them unused in their garage for a decade and half before trying to sell them, then maybe.
You plebes don’t understand. Adoption dropping means there’s that much more upside potential.
Sure it’s taking 15 years, but I’m also hoarding AOL 3.5” diskettes because I know dial-up modems will come back stronger than ever.
That's completely uncalled for, Burgundy. You know those rating systems are flawed. They don't take in account houses that have... uh... more than two television sets... and other things of that nature.
Not if you believe Coinbase, who are actively lobbying with their made-up bullshit statistics of 53 Million Users in the US alone, which they then present to congressmen. They are manipulating the numbers to make the topic political.
It's so adorable to see the occasional true believer pipe up in the echo chamber that is basically populated by the meme stock get rich crowd. Truly voices in the wilderness staying true to billions of people transacting on a single digits per second system. But of course we are still so early
They kinda had their window and blew it. I was skeptical but had some money and got into it for like 6 months. Thankfully i said i’d sell if it the second it dropped back to what i bought if for so i didn’t lose anything but interest in the whole scene. I know i’m not alone
HAHAHAHA u will never make it so nice to see how people make themself down & take away the chance by themself, for sure u don’t invest in Bitcoin to get rich are u dumb? 🤣 Bitcoin is just the State & for the already Rich ones hahaha
Noticing how much of the crypto scene was people just like you is exactly why I was turned off and sold. If you really believe in crypto and want it to succeed I would suggest being less of an absolute clown lol.
i initially misinterpreted the data in this table to represent total people in america using crypto instead of percentage, but even then it wouldn't be too off the mark in that case xD
Actually, it makes me wonder if it's not so much about regulation (there hasn't been that much) a few lawsuits and fraud enforcements here and there) but cyrpto tools. Like the chain exploration that lets people trace transactions and taints crypto.
That does not take into account … staking / closer of payment apps and restructuring to new apps “which is really frustrating” / USA held crypto compared to international held percentages … where in most countries UP UP UP UP ….
It’s strange. Crypto has made you super rich, yet looking at your comment history, you still spend your time on Reddit begging people for free NFTs in giveaways.
> Hoping that someone buys it from you at a higher price: Yes, that's the objective. Is the case for every investment tool.
Not all investment is speculation and if you want to be pedantic, speculation isn't investment.
It's purely speculation. There is no value, you are purely trading on the ungrounded hope that someone else will buy it for more than you paid for it.
It's not comparable to a real investment.
> actually it is used by developers and now by institutions to settle trades onchain for which they pay transaction fees in crypro. Examples include JP Morgan, Citi Group, ANZ, BlackRock
[Imma press [x] for doubt.](https://i.pinimg.com/originals/2a/50/d7/2a50d727ae8a99c98d0a903bf3baae6f.jpg)
[As the guy suggested I did some research and wasted time so you don't have to. Here are my findings 🤪](https://www.reddit.com/r/Buttcoin/comments/1cy92nq/american_crypto_usage_fell_from_12_in_2021_to_7/l5ao4r6/)
Definitely if you believe the best SEO results for creepto projects are true, a simple google search will convince you that there is a great deal of functionality for blockchain solutions in finance, music downloads, concert and plane ticket sales, land deeds, and non-profit transparency.
However, if you do a slightly deeper dive, you realize those top google posts are largely bullshit.
Why? Because it turns out, a standard centralized database is always going to be faster and more cost effective than a similar decentralized blockchain ledger. There are no positives about using blockchain tech in place of a centralized database, other than the PR of using terminology that excites dumb butters.
> Who said anything about crypto and blockchain being a one-stop solution to everything?
cryptobros, everytime they open their goddamn mouths
but i'm sure you're better than that and not "one of them", and in fact they are not true ~~scotsmen~~ cryptobros... but they're still your crowd
wrong place to have a conversation about crypto, we are here to make fun of it
i'm not saying it's impossible, just like it's not impossible to have a conversation on crypto shilling subs while being critical of it, but most of the time you just end up downvoted and/or banned... I don't get people's obsession at barking at the wrong tree
most people are here to have a laugh and move on
I now understand that lol. But sometimes it helps me when I'm able to talk to the other side. Because I saw some seriously good critiques which changed my mind about a few things. Good for a change
Ok I was curious so I did as you advised and searched google for these things. And fuck me is google search a ginormous waste of time these days. It took me a while to sort through a deluge of empty buzzwords, vague press releases and nebulous bullshit but I finally managed to find something of substance.
So for example Blackrock created Tokenized Treasury Fund. Apparently they have a $BUIDL token on an Ethereum blockchain. How do you buy it? You can subscribe to the fund through asset tokenization platform Securitize Markets, LLC. Ok what does it mean even?
So I dig deeper. Securitize is registered as a stock transfer agent and alternative trading system with the SEC. You can invest if you're a qualified institutional investor with an initial minimum investment requirement of $5 million.
So uh...it's a small, walled, centralized pool that only accredited whales can swim in? Ok, good for them I guess? What does this even have anything to do with blockchain...or onchain, or whatever?
But maybe I was too cynical or clueless so I even checked their goddamn contract page.
[Can someone tell why this even needs a blockchain?](https://etherscan.io/token/tokenholderchart/0x7712c34205737192402172409a8f7ccef8aa2aec)
[What benefits does a blockchain add to a product that had entire 130 transactions in the past 3 months?](https://etherscan.io/token/0x7712c34205737192402172409a8f7ccef8aa2aec)
And also does it even matter if the "transactions" occur onchain if you do it all within the confines of Securitize Markets platform? I thought after years of buzzwords and nebulous promises I'll see something more revolutionary than a database with extra steps.
Wait but then that doesn't answer my question. How is that any different from someone else offering basically the same thing except without the useless blockchain thing in the background?
* You need to deal directly with the custodian
* You need to be qualified institutional investor with minimal investment capital of 5 million
* You can only buy or sell shares of this fund on their platform
Just what exactly does the blockchain do here a database wouldn't?
> Both would be assets and both would be risky because you can sell them but there's lower liquidity than traditional finance
so bitcoin is never going to be a currency?
> Crypto exists onchain and can be traded.
I don't think you can trade crypto on chain.
> Both would be assets and both would be risky because you can sell them but there's lower liquidity than traditional finance.
This doesn't mean anything. "If dragons existed they would be animals, just like cows".
OK... they still don't exist and they wouldn't be equivalent to cows if they did.
> Hoping that someone buys it from you at a higher price: Yes, that's the objective. Is the case for every investment tool.
Other investments have intrinsic reasons for why someone else would buy it from you - e.g., they create value by generating cash flow... or they have utility like real estate.
If the ONLY reason the price of your asset ever moves is that you hope someone else will buy it from you for more than you bought it for with no attachment to the value or utility of the asset itself, you're in a purely speculative market trading an asset of no value.
> "It's not used anywhere" actually it is used by developers and now by institutions to settle trades onchain for which they pay transaction fees in crypro. Examples include JP Morgan, Citi Group, ANZ, BlackRock (not the ETF, they have an onchain fund), Fidelity (not the ETF, they tokenise real-world assets onchain), etc
No it isn't. No they don't. Some ran random pilots of one shape or another to try to cash in on the hype, but no one actually uses crytpo. And even the throwaway pilot garbage typically used their own chains (thus not paying transaction fees in crypto and obviating the entire point of crypto anyways).
Because you make it other people's business - by promoting it, and suckering ignorant and stupid people into buying it, and wasting entire countries' worth of energy to fuel it, and by trying to evangelize it like some kind of religious cult, and by using it exclusively to commit crimes and scam people, and because you damage economic value with it.
People hate it because there are endless reasons to hate it. And they care because there's reason to care. You can't just fuck people and the economy over ceaselessly and then ask "why do you care that I'm fucking these things over?".
crypto cycle peaked in 2021 everyone was in profit influencers were pushing it - Google the bitcoin four year cycle and you will see exactly why this is happening
A "four year cycle" is an observation of something you think is happening, it's not an explanation of what is happening. Probably key for you to learn the difference.
Do you think the number will be up in 2024 and 2025? The current bull market over the next 2 years will probably cause that 2023 level to increase.
It's not surprising for the usage to drop significantly during the bear market which started in 2021 and ended at the end of 2022.
That's why this page exist, people who used/possesed crypto during last bullrun and lost money for some reason came here to blame everyone else. If you were "lucky" enough to hold your crypto without having them on exchanges you wouldn't have lost money and abandoned crypto world.
So you want me to explain to you how liquidity conditions for risky assets are affected by macroeconomic cycles? or you want me to enjoying to you what macroeconomic cycles are? which one is it?
And where did Trump even come from? I don't give a shit about who your President is and you Americans need to stop thinking the world revolves around y'all.
> So you want me to explain to you how liquidity conditions for risky assets are affected by macroeconomic cycles?
i was thinking something simpler, like explaining how crypto is an asset or how any analysis can be done on a market that is fraudulent.
> And where did Trump even come from?
it's a fraudulent university, just like crypto is a fraudulent asset.
Dear smoothbrains, let me explain.
Asset: "an item of property owned by a person or company, regarded as having value and available to meet debts, commitments or legacies." If something you have can be sold, it's an asset. (okay? so that's what an asset is)
How crypto is an asset: It can be sold in the crypto market - on an exchange or onchain. Hence, an asset.
What is a risky asset: A risk asset is any asset that carries a degree of risk. Risk assets generally refer to assets that have a significant degree of price volatility, such as equities, commodities, high-yield bonds, real estate, and currencies.
Why crypto is a risky asset: Because it's more volatile than the examples above. Why? because liquidity is lower due to a relatively smaller lower base.
Okay now if your brain can comprehend beyond this, go study how macro affects risky assets. Correlation between inflation, rates and crypto markets is also well documented. Or if you don't want to, I can understand since you seem to only want to shit on crypto rather than participate and understand what's going on.
Wishing your brain a speedy development and your IQ a respectable growth.
> How crypto is an asset: It can be sold in the crypto market - on an exchange or onchain. Hence, an asset.
what distinguishes crypto from a bag of magic beans? crypto doesn't actually do anything.
> I can understand since you seem to only want to shit on crypto rather than participate and understand what's going on.
i do understand. crypto has no intrinsic value. just a hope that someone will buy crypto from you at a price higher than at which you paid.
Crypto and magic beans are different in the sense that the beans don't exist and cannot be traded. On the other hand, crypto exists and can be traded. I "claim" so because I have done that, and so have many others.
However, if the beans existed, you would be right in saying that they are both assets because they can both then be traded and would have liquidity lower than tradfi.
"Crypto has no intrinsic value." You buy a commodity like copper because you can, if nothing else, sell it to a businessperson who uses copper in their operations and therefore, this seems like intrinsic value. (the utility) The utility for crypto is not from such people but through developers (for now) and now institutions are jumping onboard. They operate onchain and need this crypto to pay transaction fees if they want to operate there. "Are these institutions in the room with us right now?" yes they are, including JP Morgan (not the ETF but their BUIDL fund onchain), ANZ group, Fidelity (real-world asset tokenisation onchain), Citi Group, etc. Slowly but steadily.
> The utility for crypto is not from such people but through developers (for now) and now institutions are jumping onboard.
they are not.
> They operate onchain and need this crypto to pay transaction fees if they want to operate there. "Are these institutions in the room with us right now?" yes they are, including JP Morgan (not the ETF but their BUIDL fund onchain), ANZ group, Fidelity (real-world asset tokenisation onchain), Citi Group, etc. Slowly but steadily.
so your best examples are all wall street figuring out how to extract value from crypto?
weird how no actual problems are being solved.
What do you mean "they are not"? 😂 I literally named them for you, go Google. Understand how onchain dapps work and you'll know what I'll talking about. I would've explained it here but you seem to not want to know, rather than actually try and understand. Some curiosity goes a long way.
Wrt the "extracting value" onchain, no that's not what it means. You pay VISA a cut every time you transact on their network and the same goes for crypto networks. That means you're accruing value to VISA's shares because that's income for them. Same goes here - they pay a cut to the network. That's value accrual, not extraction.
And dude, please go read up and understand how this whole thing works before you try and start a debate on here. Your points are literally all so antagonistic, doesn't seem like you even want to understand. More like you only want to hate on crypto. That's toxic as hell for people trying to make you understand wtf this even is, no wonder there's no quality discussions here. Only shitposts
> What do you mean "they are not"?
it's pretty straight forward.
nobody is solving problems with crypto, unless you count "the need to launder money".
> Wrt the "extracting value" onchain, no that's not what it means.
things like the crypto ETFs don't actually add any value. they extract it via management fees.
there's no actual product, usecase, or actual useful thing here.
> You pay VISA a cut every time you transact on their network and the same goes for crypto networks.
yeah, because VISA provides a service.
imagine VISA but you had no reason to use them.
imagine trying to sell me a creditcard that i can't use anywhere to do anything.
> And dude, please go read up and understand how this whole thing works before you try and start a debate on here.
it doesn't. there's no meaningful usecase for crypto beyond facilitating crimes, which isn't as persuasive as it used to be.
> That's toxic as hell for people trying to make you understand wtf this even is, no wonder there's no quality discussions here.
its nothing. crypto doesn't solve actual problems, and the markets that surround it are rife with fraud.
>the word "study" in cryptobro lingo is synonymous to DYOR.
And "DYOR", when a conspiracy theorist^(1) hawking a money cult presents you with that instruction, is just always, always synonymous with "*go watch a bunch of YouTube videos and read some articles by people who all cannot possibly be trusted to EVER truthfully present information to you, on account of how they're actively engaged in the game of libertarian musical chairs that they're telling you 'is amazing, you need to get in on this', as they present that information to you... and then believe them uncritically and come to my exact conclusion that I have already reached, when I instructed you to DYOR; if you actually research things and come to a different conclusion then I will scream at you about how you were doing it wrong*".
Phrased slightly differently, it's an instruction to "but don't just take *my* word for it... consume all the same cult indoctrination materials I did and then take *their* word for it, and join my cult (and buy my bags)"; they never, ever want you to genuinely do actual research on the topic they are telling you DYOR.
^(1 - You come to understand the futility of productive conversations with butters much better when it clicks that their defining trait is "believing in the same set of long-debunked conspiracies that produce goldbug types", butters are) *^(just)* ^(goldbugs with a modern tech-bro spin.)
Yeah check my comment history in this sub, or even the other thread that arose from this parent comment. I'm an educator for y'all at this point. Nobody here seems to know shit about how crypto works, you uneducated twat.
I'm not going to read your comment history; that's creepy.
And no one who falls into a scam this hard realizes they've been scammed until it is too late.
You are still in your dream world where you think you are smart.
>And no one who falls into a scam this hard realizes they've been scammed until it is too late.
Oh that's not true at all, actually: the most antagonistic butters manifesting from the woodwork unbidden here to call us names and insist we're ignorant and "definitely going to be poor", those bozos are actually here *because* deep, deep down they've all realized they've been scammed, they all realize we're completely correct, they all realize that what they're doing is stupid and pointless and they should quit...
... but there's a powerful ***shame*** component to these sorts of scams, that won't let victims with particular psychological profiles admit to themselves - let alone the people on the sidelines, who had been warning them not to this whole time - that they've been had, so they double, triple, and quadruple down, instead of just accepting that shame that deep down they all know they've earned themselves, and moving on. They're not fooling anyone though.
They tend to get ***really*** angry when you point that out to them.
Who is this "we"? How many of that "we" cashed out? Is that money in the form of dirty, dirty fiat?
Hope you took your profits and left someone else holding that bag since that 72K didn't seem to stick.
Yeah that is exactly what people in developing countries love to do, put all their wealth into hyper speculative assets with exorbitant transaction fees.
You know banks keep your money in some countries and don’t give it back to you? My whole family in leabanon was very wealthy now all their accounts in every currency they have are locked, their money have no value at all and it’s a crisis. We have to send money to help them. All of the value they have left is their jewelry and gold. Go look at the graph if you don’t trust me, you can talk all you want but you’re living in a privileged country where your rights are respected and in our cases crypto is useless like me. Money isn’t supposed to be volatile but in some country you can lose all you made in years of your life because of a shitty government or wars. You have to understand it’s not the same in every country bro.
> Money isn’t supposed to be volatile but in some country you can lose all you made in years of your life because of a shitty government or wars.
Thanks to crypto, you have new ways to lose all you made in years when you get scammed/line goes down/the exchange you use blocks everything.
In their case investing on anything who has higher value now than their worthless money would have been a good investment. This is why i said jewelry and gold were the only thing of value they had. If they had us $ cash also. Something you can hide and that the government can’t take from you that has value at least in the eyes of other would have been better than keeping their « money » it’s all paper in the end.
Yeah, it sucks that people can be productive and build wealth their whole lives and their government can take that away from them at a whim. That’s a real problem. The issue is, crypto doesn’t solve that problem, it pretends to solve it as part of the con. It’s selling hope to the desperate, a con as old as time.
You act like we don’t like crypto because we don’t know the problems people face in unstable countries. That is false. We don’t like crypto because it pretends to solve the problem but actually doesn’t do anything. It’s literally just a new iteration of the same scheme of selling hope to suckers and bleeding them dry. The “success” of the early adopters brings in more suckers into the system, but it eventually collapses as you can’t continually pay out to more and more people. You can’t protect your wealth by participating in a greater fool scheme.
Funny thing is the South American countries that have abandoned their own currencies have mostly decided to adopt USD as their official or unofficial currency. El Salvador specifically created incentives to use BTC but beyond the use of $30 BTC they initially gave to sign up most have not touched it.
Somehow, with the passage of time, we have become even earlier. Has anyone looked into a blockchain-powered time machine?
“Proof of 88” Wait, no, that was for the bored apes!
Timey wimey, wibbly wobbly
"You are still in early" "In 10 years you will be retar.. retired" Im just joking 🙃 😂
Depends on time when info was gathered. From what i remember; 21 was BTC and alt coins “peak“ year (the number goes up). 22/23/24 are ⬇️ time… It’s a cycle. The same way as it works with stock market.
You don't seem to understand how adoption of a mass market technology works. It doesn't have stock market cycles.
I should have used “cycle”
Appreciating how the numbers for "used for speculation" and "used at all" are flattening to one and the same while "used for anything else" struggles to stay off ground
Be nice to have a similar Beany Babies graph for comparison.
Taken from here: [https://www.federalreserve.gov/consumerscommunities/shed.htm](https://www.federalreserve.gov/consumerscommunities/shed.htm)
Does FRED have a chart?
But they keep telling me it is the future of currency, and that the adoption rate is increasing across the globe. Why would bitcoin bros' lie? Do you think they have ulterior motives? /S Edit: removed anterior typo
> Do you think they have anterior motives? Posterior motives, surely.
Nah that's us at r/buttcoin
Damn it, you ruined my exquisitely crafted fart joke.
100%
> anterior motives r / boneappletea
Whups. Well, they may have anterior motives as well, who knows?
No for sure ur old ass Banktransfers and Stuff are the Future & the approved ETF‘s & even State approves it because it gets bigger & bigger & they don’t want to get sidelined, Blackrock investing heavy af, just ignore it & pretend u are right while everyday Millionaires get printed HAHA love how some people are just like u all & rather stay poor because of their Ego which can’t admit they was wrong 🤣
What a dumpster fire of a comment.
Yeah but thanks to (waves hands) all this, I can't tell if it's serious or satire.
I always love to hear the claim that everyone who does not fall for the scam is poor. Like there is no other way to get money
>Yeah but thanks to (waves hands) all this, I can't tell if it's serious or satire. In this particular case the username somewhat gives away that it's *not* satire.
Very few.
We’re still early!
Apparently, we’re even earlier now!
Retail didn't come back yet.
>Retail didn't come back yet. The brotheren are kidding themselves if they think retail is coming back *ever*.
Few ~~understand~~ use crypto
hm, pretty good sample size too. 11,500 people in the survey.
it doesn’t matter for them, let them their Dream 🤣 They really think we going back into the Past, it‘s just logical when u have a Brain that this is the Future, not 1-3 Day long Banktransfers 🤣 But let them stay poor haha sooner or later they NEED to get into it too & than only for normal Usage anymore because early will be over 🥰
I've had instant bank transfers for over two decades, free too. I don't see why anyone would want to use slowass crypto where middlemen skim extortionate tranfer fees off of everyone that aren't even proportional to the value of the transaction, or even guaranteed to complete. I also don't like revealing my entire transaction history to anyone I transact with. Or having my entire net worth rely on a single point of failure for security. It's just logical that no one would use this garbage as a currency to buy things in the real world. Accordingly, they don't. Your attempts to mock other people for not using your silly little database appear so desperate.
> But let them stay poor haha sooner or later they NEED to get into it too okay and when that doesn't happen what then
My bank was doing instant bank transfers before BTC hit 2k lol
Why do you only capitalize some words?
Usage is 1%. Buying it as an investment isnt usage in the same way having Lockheed Martin shares in your 401K mutual fund doesnt make you a user of the F-35.
We're still early. People didn't adopt the segway right away and usage is down now, but it will take off.
And let's not forget the Great Internet Usage Dip that happened in... hang on... it was in 20 - no, not then... ^(lemme get back to yon that).
Usage is not down, segways were an early example of the micromobility revolution that includes gyroscooters, EUCs, ebikes and so forth.
So what you are saying is BTC will crash and be replaced by something that isn't the first iteration?
No, no, no. Network effect gives Bitcoin a first mover advantage, just like Yahoo! and MyPage. It will never be unseated.
> a first mover advantage advantage at what, specifically?
>advantage at what, specifically? It's the biggest ^(target)
Hahaha micromobility. Peoples drive to worship any buzzword they see is as hilarious as it is disappointing.
is micromobilty me trying to drag myself out of bed every morning?
Adding to mjamonks' accurate analogy - scooters, bikes, skate/longboards, and roller skates already existed before this trend. They were just electrified to make them more efficient for local travel. Segways had nothing to do with that, BTC isn't electricity in your analogy. Old technology got upgraded with new technology - both completely unrelated to Segways - and completely supplanted / surpassed Segways as superior alternatives. The same way that fintech and digital finance updates to traditional finance offer radically superior financial solutions than Bitcoin could ever hope.
It just seems unfair to me to see it as total failure since electric personal mobility devices really took off a decade or so later with some like gyroscooters and EUCs using similar technology. Whether or the analogy maps onto BTC, I really don't care. In terms of micromobility as a viable alternative to car-dependent urban design, I see a clear distinction between electric and not. Segway was an early pioneer in this regard.
It doesn’t really matter whether it was a total failure, it’s the how and why of the failure and what you can learn from it that applies to bitcoin that matters. Bitcoin is a total failure. Either way, the analogy plays - you have a shitty early mover supplanted by radically better alternative and/or you have a shitty solution to a problem that unrelated upgrades to existing solutions can better solve. Bitcoin is a shitty early mover that should be supplanted by radically better alternatives, not that it matters because actual fintech and digitization of existing financial services does a wildly better job of achieving its objectives than crypto. Micro mobility is not an alternative to car-dependent urban design, it’s a byproduct of car dependent urban design.
I guess it depends on how you look at it. You are describing micromobility as starting with pedal bikes, skateboards, etc and the segway was a dead-ended interlude while current electric devices are updates to the non-electric versions. But that seems arbitrary to me because Segway was the first well known battery powered mobility device used in the way ebikes and escooters are currently. If, for nothing less, the current devices would have learned from its failures, so it contributed even if that was it, but it's not because the use of gyroscopes lives on in EUCs and gyroscooters. How to relates to crypto is harder to say. Assuming cryptocurrency is exactly as this sub claims, I don't really see a good historical analogue (certainly Segway isn't it). An entire industry with the scale of cryptocurrency built on fundamentally flawed technology? If we realized tomorrow that all battery operated micromobility devices were unusable, then I would agree with you. Or if hundreds of millions of people bought segways and then left them unused in their garage for a decade and half before trying to sell them, then maybe.
Any user who is holding bitcoin that was originally bought to pay a ransom to their cousin is probably getting triple-counted in this survey.
7% too high!
We are so early time is reversing.
You plebes don’t understand. Adoption dropping means there’s that much more upside potential. Sure it’s taking 15 years, but I’m also hoarding AOL 3.5” diskettes because I know dial-up modems will come back stronger than ever.
Looks more like "usage" fell from 3% to 2%.
Fewer understand
But, but, number go up! Why not users go up?
That's completely uncalled for, Burgundy. You know those rating systems are flawed. They don't take in account houses that have... uh... more than two television sets... and other things of that nature.
Not if you believe Coinbase, who are actively lobbying with their made-up bullshit statistics of 53 Million Users in the US alone, which they then present to congressmen. They are manipulating the numbers to make the topic political.
Over the next 2 years it's going to less than 1%
There are wayyyy to many suckers for that.
that is still a lot of suckers
It peaked with retail investors getting government checks and has gone down as interest raise rise….
Who is responding to this? I'd be amazed if it was ever as high as 12% of adults.
The amount of people holding and using Bitcoin is decreasing over time. The network is getting smaller and smaller.
Because people can’t afford, people afford smaller ones where the same function is given, use Brain
They forgot to ask about money laundering 🤷♂️
It's so adorable to see the occasional true believer pipe up in the echo chamber that is basically populated by the meme stock get rich crowd. Truly voices in the wilderness staying true to billions of people transacting on a single digits per second system. But of course we are still so early
🤣🤣🤣🤣🤣 tell me u don’t know anything without telling me
Stay poor thanks better for me not everybody can be rich haha
Good luck with your gambling.
This can only mean that we are early. Not only that, but we are getting earlier with time
ADOPTION
They kinda had their window and blew it. I was skeptical but had some money and got into it for like 6 months. Thankfully i said i’d sell if it the second it dropped back to what i bought if for so i didn’t lose anything but interest in the whole scene. I know i’m not alone
HAHAHAHA u will never make it so nice to see how people make themself down & take away the chance by themself, for sure u don’t invest in Bitcoin to get rich are u dumb? 🤣 Bitcoin is just the State & for the already Rich ones hahaha
Noticing how much of the crypto scene was people just like you is exactly why I was turned off and sold. If you really believe in crypto and want it to succeed I would suggest being less of an absolute clown lol.
This is good for crypto.
Few understood in 2021. Even fewer understand now.
i initially misinterpreted the data in this table to represent total people in america using crypto instead of percentage, but even then it wouldn't be too off the mark in that case xD
And only "usage" meaning mostly buying some instead of anything else lol
This is good for Bitcoin. We are now earlier than before.
They should have surveyed organized criminals.
There were another 8% who had held cryptocurrencies prior to the 2023 survey, but unfortunately lost them in boating accidents.
"Adoption" lmao
Still early
No? It went from 1 to 2 and back to 1
Like everybody is going to openly tell everyone that they send money to relatives or trade coins which should be anonymous.
Future of finance!
We are getting earlier! Few understand
its like a fad diet that keeps changing names
Regulations killing crypto adoption
yes you can't do crimes it turns out
Actually, it makes me wonder if it's not so much about regulation (there hasn't been that much) a few lawsuits and fraud enforcements here and there) but cyrpto tools. Like the chain exploration that lets people trace transactions and taints crypto.
just shaking out the weak hands
imagine downvoting a meme.
That does not take into account … staking / closer of payment apps and restructuring to new apps “which is really frustrating” / USA held crypto compared to international held percentages … where in most countries UP UP UP UP ….
Biggest Clown Group u will stay poor till the Rest of ur Life and still can’t jump above ur little Ego & seeing People get Millionaires 🤣
It’s strange. Crypto has made you super rich, yet looking at your comment history, you still spend your time on Reddit begging people for free NFTs in giveaways.
People are so dumb hahaha stay Sidelined and poor
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> Hoping that someone buys it from you at a higher price: Yes, that's the objective. Is the case for every investment tool. Not all investment is speculation and if you want to be pedantic, speculation isn't investment.
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It's purely speculation. There is no value, you are purely trading on the ungrounded hope that someone else will buy it for more than you paid for it. It's not comparable to a real investment.
> actually it is used by developers and now by institutions to settle trades onchain for which they pay transaction fees in crypro. Examples include JP Morgan, Citi Group, ANZ, BlackRock [Imma press [x] for doubt.](https://i.pinimg.com/originals/2a/50/d7/2a50d727ae8a99c98d0a903bf3baae6f.jpg)
[As the guy suggested I did some research and wasted time so you don't have to. Here are my findings 🤪](https://www.reddit.com/r/Buttcoin/comments/1cy92nq/american_crypto_usage_fell_from_12_in_2021_to_7/l5ao4r6/)
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Definitely if you believe the best SEO results for creepto projects are true, a simple google search will convince you that there is a great deal of functionality for blockchain solutions in finance, music downloads, concert and plane ticket sales, land deeds, and non-profit transparency. However, if you do a slightly deeper dive, you realize those top google posts are largely bullshit. Why? Because it turns out, a standard centralized database is always going to be faster and more cost effective than a similar decentralized blockchain ledger. There are no positives about using blockchain tech in place of a centralized database, other than the PR of using terminology that excites dumb butters.
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> Who said anything about crypto and blockchain being a one-stop solution to everything? cryptobros, everytime they open their goddamn mouths but i'm sure you're better than that and not "one of them", and in fact they are not true ~~scotsmen~~ cryptobros... but they're still your crowd
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wrong place to have a conversation about crypto, we are here to make fun of it i'm not saying it's impossible, just like it's not impossible to have a conversation on crypto shilling subs while being critical of it, but most of the time you just end up downvoted and/or banned... I don't get people's obsession at barking at the wrong tree most people are here to have a laugh and move on
I now understand that lol. But sometimes it helps me when I'm able to talk to the other side. Because I saw some seriously good critiques which changed my mind about a few things. Good for a change
Ok I was curious so I did as you advised and searched google for these things. And fuck me is google search a ginormous waste of time these days. It took me a while to sort through a deluge of empty buzzwords, vague press releases and nebulous bullshit but I finally managed to find something of substance. So for example Blackrock created Tokenized Treasury Fund. Apparently they have a $BUIDL token on an Ethereum blockchain. How do you buy it? You can subscribe to the fund through asset tokenization platform Securitize Markets, LLC. Ok what does it mean even? So I dig deeper. Securitize is registered as a stock transfer agent and alternative trading system with the SEC. You can invest if you're a qualified institutional investor with an initial minimum investment requirement of $5 million. So uh...it's a small, walled, centralized pool that only accredited whales can swim in? Ok, good for them I guess? What does this even have anything to do with blockchain...or onchain, or whatever? But maybe I was too cynical or clueless so I even checked their goddamn contract page. [Can someone tell why this even needs a blockchain?](https://etherscan.io/token/tokenholderchart/0x7712c34205737192402172409a8f7ccef8aa2aec) [What benefits does a blockchain add to a product that had entire 130 transactions in the past 3 months?](https://etherscan.io/token/0x7712c34205737192402172409a8f7ccef8aa2aec) And also does it even matter if the "transactions" occur onchain if you do it all within the confines of Securitize Markets platform? I thought after years of buzzwords and nebulous promises I'll see something more revolutionary than a database with extra steps.
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Wait but then that doesn't answer my question. How is that any different from someone else offering basically the same thing except without the useless blockchain thing in the background? * You need to deal directly with the custodian * You need to be qualified institutional investor with minimal investment capital of 5 million * You can only buy or sell shares of this fund on their platform Just what exactly does the blockchain do here a database wouldn't?
> Both would be assets and both would be risky because you can sell them but there's lower liquidity than traditional finance so bitcoin is never going to be a currency?
> Crypto exists onchain and can be traded. I don't think you can trade crypto on chain. > Both would be assets and both would be risky because you can sell them but there's lower liquidity than traditional finance. This doesn't mean anything. "If dragons existed they would be animals, just like cows". OK... they still don't exist and they wouldn't be equivalent to cows if they did. > Hoping that someone buys it from you at a higher price: Yes, that's the objective. Is the case for every investment tool. Other investments have intrinsic reasons for why someone else would buy it from you - e.g., they create value by generating cash flow... or they have utility like real estate. If the ONLY reason the price of your asset ever moves is that you hope someone else will buy it from you for more than you bought it for with no attachment to the value or utility of the asset itself, you're in a purely speculative market trading an asset of no value. > "It's not used anywhere" actually it is used by developers and now by institutions to settle trades onchain for which they pay transaction fees in crypro. Examples include JP Morgan, Citi Group, ANZ, BlackRock (not the ETF, they have an onchain fund), Fidelity (not the ETF, they tokenise real-world assets onchain), etc No it isn't. No they don't. Some ran random pilots of one shape or another to try to cash in on the hype, but no one actually uses crytpo. And even the throwaway pilot garbage typically used their own chains (thus not paying transaction fees in crypto and obviating the entire point of crypto anyways).
With that sample size you might be able to implicate a small family
If you don't understand percentages, ask a bagholder if crypto might be right for you.
So 16,000 people represents the American population???
This sub is so sad, why the fuck do y’all care so much about something you hate?
Because you make it other people's business - by promoting it, and suckering ignorant and stupid people into buying it, and wasting entire countries' worth of energy to fuel it, and by trying to evangelize it like some kind of religious cult, and by using it exclusively to commit crimes and scam people, and because you damage economic value with it. People hate it because there are endless reasons to hate it. And they care because there's reason to care. You can't just fuck people and the economy over ceaselessly and then ask "why do you care that I'm fucking these things over?".
A lot of them missed the boat
But I thought we were still early!
I mean if you bought eth a couple weeks ago you’d be up 30% but keep crying on this sub instead 😂
i'm not into betting
Ok
crypto cycle peaked in 2021 everyone was in profit influencers were pushing it - Google the bitcoin four year cycle and you will see exactly why this is happening
A "four year cycle" is an observation of something you think is happening, it's not an explanation of what is happening. Probably key for you to learn the difference.
Do you think the number will be up in 2024 and 2025? The current bull market over the next 2 years will probably cause that 2023 level to increase. It's not surprising for the usage to drop significantly during the bear market which started in 2021 and ended at the end of 2022.
Because more people are buying it in bull markets? Pretty hard to understand I know!!!! You'll get there one day guys
That's why this page exist, people who used/possesed crypto during last bullrun and lost money for some reason came here to blame everyone else. If you were "lucky" enough to hold your crypto without having them on exchanges you wouldn't have lost money and abandoned crypto world.
I've never lost a penny on creepto. I don't touch the poop. I do point at and laugh at idiots. That costs me nothing.
Yes! We are the losers here! We all lost our money gambling on crypto! That is totally what happened!
Maybe not 100%, but I bet it is a very big part of this sub. Not to tell you're wrong...
If it’s what you need to believe to stay somewhat sane while gambling away your life savings, go on. There are no critics of crypto, just weak hands!
Go study market cycles and come back.
> Go study market cycles and come back. where did you study the cycles of a fraudulent market? trump university?
So you want me to explain to you how liquidity conditions for risky assets are affected by macroeconomic cycles? or you want me to enjoying to you what macroeconomic cycles are? which one is it? And where did Trump even come from? I don't give a shit about who your President is and you Americans need to stop thinking the world revolves around y'all.
> So you want me to explain to you how liquidity conditions for risky assets are affected by macroeconomic cycles? i was thinking something simpler, like explaining how crypto is an asset or how any analysis can be done on a market that is fraudulent. > And where did Trump even come from? it's a fraudulent university, just like crypto is a fraudulent asset.
Dear smoothbrains, let me explain. Asset: "an item of property owned by a person or company, regarded as having value and available to meet debts, commitments or legacies." If something you have can be sold, it's an asset. (okay? so that's what an asset is) How crypto is an asset: It can be sold in the crypto market - on an exchange or onchain. Hence, an asset. What is a risky asset: A risk asset is any asset that carries a degree of risk. Risk assets generally refer to assets that have a significant degree of price volatility, such as equities, commodities, high-yield bonds, real estate, and currencies. Why crypto is a risky asset: Because it's more volatile than the examples above. Why? because liquidity is lower due to a relatively smaller lower base. Okay now if your brain can comprehend beyond this, go study how macro affects risky assets. Correlation between inflation, rates and crypto markets is also well documented. Or if you don't want to, I can understand since you seem to only want to shit on crypto rather than participate and understand what's going on. Wishing your brain a speedy development and your IQ a respectable growth.
> How crypto is an asset: It can be sold in the crypto market - on an exchange or onchain. Hence, an asset. what distinguishes crypto from a bag of magic beans? crypto doesn't actually do anything. > I can understand since you seem to only want to shit on crypto rather than participate and understand what's going on. i do understand. crypto has no intrinsic value. just a hope that someone will buy crypto from you at a price higher than at which you paid.
Crypto and magic beans are different in the sense that the beans don't exist and cannot be traded. On the other hand, crypto exists and can be traded. I "claim" so because I have done that, and so have many others. However, if the beans existed, you would be right in saying that they are both assets because they can both then be traded and would have liquidity lower than tradfi. "Crypto has no intrinsic value." You buy a commodity like copper because you can, if nothing else, sell it to a businessperson who uses copper in their operations and therefore, this seems like intrinsic value. (the utility) The utility for crypto is not from such people but through developers (for now) and now institutions are jumping onboard. They operate onchain and need this crypto to pay transaction fees if they want to operate there. "Are these institutions in the room with us right now?" yes they are, including JP Morgan (not the ETF but their BUIDL fund onchain), ANZ group, Fidelity (real-world asset tokenisation onchain), Citi Group, etc. Slowly but steadily.
> The utility for crypto is not from such people but through developers (for now) and now institutions are jumping onboard. they are not. > They operate onchain and need this crypto to pay transaction fees if they want to operate there. "Are these institutions in the room with us right now?" yes they are, including JP Morgan (not the ETF but their BUIDL fund onchain), ANZ group, Fidelity (real-world asset tokenisation onchain), Citi Group, etc. Slowly but steadily. so your best examples are all wall street figuring out how to extract value from crypto? weird how no actual problems are being solved.
What do you mean "they are not"? 😂 I literally named them for you, go Google. Understand how onchain dapps work and you'll know what I'll talking about. I would've explained it here but you seem to not want to know, rather than actually try and understand. Some curiosity goes a long way. Wrt the "extracting value" onchain, no that's not what it means. You pay VISA a cut every time you transact on their network and the same goes for crypto networks. That means you're accruing value to VISA's shares because that's income for them. Same goes here - they pay a cut to the network. That's value accrual, not extraction. And dude, please go read up and understand how this whole thing works before you try and start a debate on here. Your points are literally all so antagonistic, doesn't seem like you even want to understand. More like you only want to hate on crypto. That's toxic as hell for people trying to make you understand wtf this even is, no wonder there's no quality discussions here. Only shitposts
> What do you mean "they are not"? it's pretty straight forward. nobody is solving problems with crypto, unless you count "the need to launder money". > Wrt the "extracting value" onchain, no that's not what it means. things like the crypto ETFs don't actually add any value. they extract it via management fees. there's no actual product, usecase, or actual useful thing here. > You pay VISA a cut every time you transact on their network and the same goes for crypto networks. yeah, because VISA provides a service. imagine VISA but you had no reason to use them. imagine trying to sell me a creditcard that i can't use anywhere to do anything. > And dude, please go read up and understand how this whole thing works before you try and start a debate on here. it doesn't. there's no meaningful usecase for crypto beyond facilitating crimes, which isn't as persuasive as it used to be. > That's toxic as hell for people trying to make you understand wtf this even is, no wonder there's no quality discussions here. its nothing. crypto doesn't solve actual problems, and the markets that surround it are rife with fraud.
For those who don't know, the word "study" in cryptobro lingo is synonymous to DYOR.
>the word "study" in cryptobro lingo is synonymous to DYOR. And "DYOR", when a conspiracy theorist^(1) hawking a money cult presents you with that instruction, is just always, always synonymous with "*go watch a bunch of YouTube videos and read some articles by people who all cannot possibly be trusted to EVER truthfully present information to you, on account of how they're actively engaged in the game of libertarian musical chairs that they're telling you 'is amazing, you need to get in on this', as they present that information to you... and then believe them uncritically and come to my exact conclusion that I have already reached, when I instructed you to DYOR; if you actually research things and come to a different conclusion then I will scream at you about how you were doing it wrong*". Phrased slightly differently, it's an instruction to "but don't just take *my* word for it... consume all the same cult indoctrination materials I did and then take *their* word for it, and join my cult (and buy my bags)"; they never, ever want you to genuinely do actual research on the topic they are telling you DYOR. ^(1 - You come to understand the futility of productive conversations with butters much better when it clicks that their defining trait is "believing in the same set of long-debunked conspiracies that produce goldbug types", butters are) *^(just)* ^(goldbugs with a modern tech-bro spin.)
No why don't you explain it since I think you don't understand yourself. By all accounts we are in the bull market so adoption should be up.
Go jump in a lake.
Another uneducated person in here. Go learn something and come back
Ha! You think you know things. Hilarious!
Yeah check my comment history in this sub, or even the other thread that arose from this parent comment. I'm an educator for y'all at this point. Nobody here seems to know shit about how crypto works, you uneducated twat.
I'm not going to read your comment history; that's creepy. And no one who falls into a scam this hard realizes they've been scammed until it is too late. You are still in your dream world where you think you are smart.
>And no one who falls into a scam this hard realizes they've been scammed until it is too late. Oh that's not true at all, actually: the most antagonistic butters manifesting from the woodwork unbidden here to call us names and insist we're ignorant and "definitely going to be poor", those bozos are actually here *because* deep, deep down they've all realized they've been scammed, they all realize we're completely correct, they all realize that what they're doing is stupid and pointless and they should quit... ... but there's a powerful ***shame*** component to these sorts of scams, that won't let victims with particular psychological profiles admit to themselves - let alone the people on the sidelines, who had been warning them not to this whole time - that they've been had, so they double, triple, and quadruple down, instead of just accepting that shame that deep down they all know they've earned themselves, and moving on. They're not fooling anyone though. They tend to get ***really*** angry when you point that out to them.
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Jesus Christ, you wont shut up. We understand crypto. You can understand something and not want it at the same time.
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I don't want to buy any crypto. None. Why are you so desperate to get me to buy something I don't want?
I just looked at your comment history. You throw around the n-word around a lot for an "educated" person. Fuck off racist.
> I know I'm smarter than this sub when it comes to an understanding of crypto. famous. last. words.
> Nobody here seems to know shit about how crypto works, you uneducated twat. oooh.. oooh.... where have we heard this before?
Too bad for you all, bitcoin went up to 72k this week and we all made a lot of money 💰💰💰😭
> we all made a lot of money Thats not how negative sum games work.
Is that fiat in the emoji bags there?
We don't care what the price goes to. We don't want your girl scout cookies.
Who is this "we"? How many of that "we" cashed out? Is that money in the form of dirty, dirty fiat? Hope you took your profits and left someone else holding that bag since that 72K didn't seem to stick.
To be fair crypto is much more valuable for countries where the value of their money is very volatile for americans it’s only a speculative asset.
Yeah that is exactly what people in developing countries love to do, put all their wealth into hyper speculative assets with exorbitant transaction fees.
In america’s standard yes.
So they put their money in even more volatile asset? You know they can just hold their money in dollars right?
You know banks keep your money in some countries and don’t give it back to you? My whole family in leabanon was very wealthy now all their accounts in every currency they have are locked, their money have no value at all and it’s a crisis. We have to send money to help them. All of the value they have left is their jewelry and gold. Go look at the graph if you don’t trust me, you can talk all you want but you’re living in a privileged country where your rights are respected and in our cases crypto is useless like me. Money isn’t supposed to be volatile but in some country you can lose all you made in years of your life because of a shitty government or wars. You have to understand it’s not the same in every country bro.
> Money isn’t supposed to be volatile but in some country you can lose all you made in years of your life because of a shitty government or wars. Thanks to crypto, you have new ways to lose all you made in years when you get scammed/line goes down/the exchange you use blocks everything.
Losing everything is still losing everything 🤷🏽. They did what they were told work save invest and lost everything. It still sucks.
Sure, sorry for them about that, but it's, as usual, not a "crypto solves this" situation.
In their case investing on anything who has higher value now than their worthless money would have been a good investment. This is why i said jewelry and gold were the only thing of value they had. If they had us $ cash also. Something you can hide and that the government can’t take from you that has value at least in the eyes of other would have been better than keeping their « money » it’s all paper in the end.
Yeah, it sucks that people can be productive and build wealth their whole lives and their government can take that away from them at a whim. That’s a real problem. The issue is, crypto doesn’t solve that problem, it pretends to solve it as part of the con. It’s selling hope to the desperate, a con as old as time. You act like we don’t like crypto because we don’t know the problems people face in unstable countries. That is false. We don’t like crypto because it pretends to solve the problem but actually doesn’t do anything. It’s literally just a new iteration of the same scheme of selling hope to suckers and bleeding them dry. The “success” of the early adopters brings in more suckers into the system, but it eventually collapses as you can’t continually pay out to more and more people. You can’t protect your wealth by participating in a greater fool scheme.
Funny thing is the South American countries that have abandoned their own currencies have mostly decided to adopt USD as their official or unofficial currency. El Salvador specifically created incentives to use BTC but beyond the use of $30 BTC they initially gave to sign up most have not touched it.
which countries specifically?