According to a survey report, more than 30% of bitcoin investors also invested in ethereum
39.54% respondents believe that Bitcoin should be classified as security
According to a recent survey conducted by LendEDU, student loan and refinancing organization in US, some surprising results came through.
In September, LendEDU asked 1,000 Americans a series of questions about Bitcoin as both an investment opportunity and as a currency. In October, they asked 1,000 Americans a series of questions related to Ethereum, Ripple, and Initial Coin Offerings. Over the last couple months, data has shown that many Americans are excited about the cryptocurrency.
In November, LendEDU commissioned a new poll of 564 Americans who have invested in Bitcoin and survey results were pretty surprising
1. Have you invested in other cryptocurrencies besides Bitcoin?
a. 30.15% of respondents answered “Yes, Ethereum”
b. 15.60% of respondents answered “Yes, Ripple”
c. 21.28% of respondents answered “Yes, another crypto currency besides Ethereum and Ripple”
d. 48.40% of respondents answered “No, as in I have not invested in other crypto currencies.”
2. If possible, would you rather own Bitcoin through an exchange traded fund (ETF) that accurately tracked the actual price of Bitcoin?
a. 49.49% of respondents answered “Yes”
b. 16.31% of respondents answered “No”
c. 34.20% of respondents answered “Unsure”
3. Do you believe that increased regulation and oversight by U.S. government agencies would be a good or a bad thing for the price of Bitcoin?
a. 31.21% of respondents answered “A good thing for the long term”
b. 38.48% of respondents answered “A bad thing for the long term.”
c. 23.40% of respondents answered “Unsure”
d. 6.91% of respondents answered “Neither good or bad”
4. Do you have multiple Bitcoin wallets?
a. 46.63% of respondents answered “Yes”
b. 53.37% of respondents answered “No”
5. Do you believe Bitcoin should be classified as a commodity or a security?
a. 31.56% of respondents answered “Commodity”
b. 39.54% of respondents answered “Security”
c. 28.90% of respondents answered “Unsure”
6. Which of the following best describes the reason you invested in Bitcoin?
a. 21.81% of respondents answered “Bitcoin is a long term store of value, like gold or silver.”
b. 40.78% of respondents answered “I believe Bitcoin is a world changing technology.”
c. 14.01% of respondents answered “I believe that the price of Bitcoin is too low, and will only go higher.”
d. 15.25% of respondents answered “A friend, family member, or another trustworthy source convinced me to invest.”
e. 8.16% of respondents answered “I plan on using Bitcoin for transactions or purchases, and less of an investment.
7. How long do you plan to hold your Bitcoin investment?
a. 16.49% of respondents answered “Less than 1 year”
b. 39.54% of respondents answered “1 to 3 years”
c. 22.34% of respondents answered “4 to 6 years”
d. 9.93% of respondents answered “7 to 10 years”
e. 11.70% of respondents answered “Over 10 years”
8. The price of Bitcoin is currently near all-time highs. Have you sold some or all of your Bitcoin investment since investing?
a. 32.62% of respondents answered “Yes”
b. 67.38% of respondents answered “No”
At what price per Bitcoin would you be willing to sell all of your Bitcoin investment?
On average, respondents reported that they would be willing to sell all of their Bitcoin investment at $196,165.79 per Bitcoin.
Crypto market stabilizing gradually
Crypto market is stabilizing around $450 billion market cap after gradual increase in overall value in recent weeks.
Leading crypto currencies are on the rise, lead by Bitcoin, Ethereum, Bitcoin Cash and Ripple. Although increase in bitcoin value is less as compared to other crypto currencies but overall market is on rise with current market of $440 billion.
Bitcoin is currently hovering around the $9300 mark after being rejected at $10000 mark couple of times in last days, Ethereum is on the charge as well but the most surprising one is Bitcoin cash. Bitcoin cash was at $600 couple of weeks ago and now at $1600, shows rapid growth in recent weeks.
Crypto currency of the month has to be EOS, investors of EOS are enjoying a massive rise in value in past few weeks, EOS started April at $5 mark and now is at $18 , value of EOS increased more than 3 times within one month.
Current top 5 crypto currencies
- Bitcoin : $9388
- Ethereum: $741
- Ripple: $0.83
- Bitcoin Cash: $1630
- EOS: $18.28
Take a Crypto Pill
Crypto market is crashing, we all know that, panic sellers are taking over the market with massive sell-off. You can’t control that, just calm down and take a Crypto Pill to make things easy.
Crypto Pill is the term being used by industry leaders to make things calm down from recent fiasco, yesterday a leaked news from CFTC about Bitfinex and Tether made things even more difficult for crypto traders, short sellers went all into the market with massive short bets, and they won, Bitcoin price slipped below $10000 level to as low as $9500, but later on recovered to $10K , but selling pressure is still there.
First South Korea and now US
First it was South Korea, the country with massive trading volumes in crypto market, they announced to ban anonymous crypto trading and ban took place effective from 30th Jan 2018, then a sudden news came from US market when Bloomberg broke the news that US financial regulatory authority CFTC investigating Tether and Bitfinex, but later on it was confirmed that news was from December last year, which made market calm down a little bit after all that tension and hype about US crackdown on crypto currencies.
HODLers will take over market soon
Despite of all this fiasco, Hodlers are still holding their Crypto currencies, they are not giving up and they holding for their dear life, it is very much possible that they take over this market in near future, making another uptrend in coming months.
Venezuela is the cheapest country to mine Bitcoin
Cost of mining one Bitcoin in Venezuela is just $531
Most expensive country to mine Bitcoin is South Korea, where cost of mining one bitcoin is $26,170
After recent crackdown by Chinese Government on Bitcoin miners, most talked about topic in bitcoin community is that which country would Chinese Bitcoin miners chose to shift, as many research firms were working to find the best possible option for the miners, one of the best option is Venezuela, where cost of mining one bitcoin is the cheapest, just $531, as compared to China where cost of mining one bitcoin $3172.
Others with lower costs are Bangladesh, Belarus, Paraguay, Serbia and Trinidad & Tobago. The most expensive is South Korea at $26,170 per coin. The U.S. cost is $4,675.
Calculations for the amount of energy consumed were based on the average usage of three popular types of mining equipment: the AntMiner S7, the AntMiner S9 and the Avalon.
Bitcoin mining consumes a lot of energy and according to one estimate, Bitcoin mining currently consuming energy which is more than 159 countries, including countries like Ireland
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