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Over half of millennials would like to move to Bitcoin.

The online survey carried out by the research service YouGov Omnibus between August 29th, and 30th revealed that 79 per cent of Americans are familiar with at least one type of cryptocurrency. 71 per cent of those said that they’ve heard of Bitcoin, while the next best-known is Ethereum with 13 per cent.

This is very interesting as this sort of exposure means it’s just a matter of time before people begin adopting cryptocurrency for daily transactions. This could revolutionise the market, it would cause a massive increase in the value of crypto. Perhaps the day will come when someone using good old sterling might just be a strange novelty.

I personally like to use Bitcoin when I can to get people to understand just how great it is, but for instant transactions like shopping, it will need to solve the problem of waiting for confirmations. It will be no good if you pay for your veggies with crypto but have to stand there for 1/2 hour while the transaction verifies. Maybe some kind of intermediary coin would be needed. – Although it’s very low risk if you are buying £1.50 worth of bananas.

 

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