Most Americans have heard about cryptocurrencies, but far fewer have ever invested in...

Shawn Knight

Posts: 13,753   +140
Staff member
In brief: Pew Research Center in its latest survey found that 86 percent of Americans have at least heard a little about cryptocurrencies, while nearly a quarter (24 percent) say they have heard a lot about them. Only 13 percent said they have heard nothing at all about crypto.

Furthermore, a full 16 percent of those questioned say they have personally invested in, traded or otherwise used cryptocurrency at some point.

Pew also found patters among crypto usage / interest and demographic groups. For example, men were about twice as likely as women to have reported ever using any type of cryptocurrency. Furthermore, virtual currencies are more popular among younger demographics, with 31 percent of those ages 18-29 having invested in, traded or used crypto, compared to just three percent of those aged 65 or older.

Crypto was also found to be more popular among Asian, Hispanic and Black adults (in that order) compared to White adults, although there was no statistically significant differences in crypto interest when looking at household income.

Pew surveyed 11,505 US adults between September 13 and September 19, 2021, for the survey, although only 10,371 panelists responded, resulting in a response rate of 90 percent.

Bitcoin, the first and largest decentralized digital currency by market cap, debuted in early 2009, but it’d be many more years before it’d enter the mainstream ethos. As illustrated by Pew’s survey, crypto in general is pretty well known today with a collective market cap of nearly $3 trillion.

Masthead credit Alesia Kozik

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Toju Mikie

Posts: 259   +251
I tried crypto mining for fun, so I have a little from that, but most of my crypto holdings are from buying them from Robinhood. I'm not hugely invested in it but mostly wanted to see what the hype was all about. I'm in the 18-29 group (26)

I will probably just keep my cryptocurrency forever, even if it becomes worthless in the future, just to show future generations what we were doing. On the other hand, cryptocurrency could be what people primarily use in the future, who knows, or maybe we will be using something like eurodollars like on cyberpunk
 
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QuantumPhysics

Posts: 5,679   +6,463
Remind me again how easy it is to explain new technology to an "older and wiser" person? 😂


Keep in mind: those older, wiser people lived a better quality of life than today's smartphone-addicted, Millennial' Gen Z who's constantly complaining about not being able to afford anything, while walking around with $1000 cellphones, minimum wage/ gig jobs and so depressed/ on meds that they are just a hair away from ending themselves.
 

m4a4

Posts: 2,660   +3,317
TechSpot Elite
Keep in mind: those older, wiser people lived a better quality of life than today's smartphone-addicted, Millennial' Gen Z who's constantly complaining about not being able to afford anything, while walking around with $1000 cellphones, minimum wage/ gig jobs and so depressed/ on meds that they are just a hair away from ending themselves.
Ok. How does that have anything to do with old people not easily understanding new technology?
 

Uncle Al

Posts: 8,476   +7,312
Well, as a 66 year old with a Masters in Environmental Engineering and a PhD in Nuclear Physics I would like to expain to you the challenges of explaining ANYTHING to the younger crowd that are so ****-sure they understand anything and everything better than us "old folks". I can no longer count the number of "brilliant young engineers" I have watched fall on their face because of this same mental condition.

So, before you start to criticize us old folks you might want to look at your parents, your boss, or any other older person and ask yourself ...... will I ever catch up?

(And for those that can't figure out the answer, it's simple. Keep your eyes and your ears open and staple shut that pie hold up .... and you might start learning a few things .....)
 

Squid Surprise

Posts: 4,536   +3,904
Well, as a 66 year old with a Masters in Environmental Engineering and a PhD in Nuclear Physics I would like to expain to you the challenges of explaining ANYTHING to the younger crowd that are so ****-sure they understand anything and everything better than us "old folks". I can no longer count the number of "brilliant young engineers" I have watched fall on their face because of this same mental condition.

So, before you start to criticize us old folks you might want to look at your parents, your boss, or any other older person and ask yourself ...... will I ever catch up?

(And for those that can't figure out the answer, it's simple. Keep your eyes and your ears open and staple shut that pie hold up .... and you might start learning a few things .....)
Here's the amazing thing about old people... 100% of them were young once...

And humanity, as a whole, doesn't adapt nearly as well to ANYTHING the older they get... it's simply a fact of life...

Whether that's a good thing... well, you can argue about that forever...
 

BadThad

Posts: 818   +947
Remind me again how easy it is to explain new technology to an "older and wiser" person? 😂
As soon as you remind me how easy it is to explain analytical science to fresh college grads I have to mentor at work. Also, perhaps I'm an exception, but I FREQUENTLY have to explain new tech (or most any tech) to young adults.
 

BadThad

Posts: 818   +947
Well, as a 66 year old with a Masters in Environmental Engineering and a PhD in Nuclear Physics I would like to expain to you the challenges of explaining ANYTHING to the younger crowd that are so ****-sure they understand anything and everything better than us "old folks". I can no longer count the number of "brilliant young engineers" I have watched fall on their face because of this same mental condition.

So, before you start to criticize us old folks you might want to look at your parents, your boss, or any other older person and ask yourself ...... will I ever catch up?

(And for those that can't figure out the answer, it's simple. Keep your eyes and your ears open and staple shut that pie hold up .... and you might start learning a few things .....)
BRAVO! Same in chemistry, I've seen so many failures over the decades I've lost count. LISTEN AND LEARN YOUNG PEOPLE or you'll regret it when we're gone and you're left floundering.
 

m4a4

Posts: 2,660   +3,317
TechSpot Elite
As soon as you remind me how easy it is to explain analytical science to fresh college grads I have to mentor at work. Also, perhaps I'm an exception, but I FREQUENTLY have to explain new tech (or most any tech) to young adults.
So, you're trying to imply that young adults don't pick up new tech faster than old adults? Or are you just trying to dodge your implication that old people are somehow wiser for not being able (or wanting) to understand?

Because your poor implications so far are hilarious either way. I've only had to teach old people how to use basic tech (like a tablet). Not a chance they even want to understand crypto. They'll stick to the stock market unless some young guy explains and convinces them to invest in it lol
 

NightAntilli

Posts: 812   +1,010
Well, as a 66 year old with a Masters in Environmental Engineering and a PhD in Nuclear Physics I would like to expain to you the challenges of explaining ANYTHING to the younger crowd that are so ****-sure they understand anything and everything better than us "old folks". I can no longer count the number of "brilliant young engineers" I have watched fall on their face because of this same mental condition.

So, before you start to criticize us old folks you might want to look at your parents, your boss, or any other older person and ask yourself ...... will I ever catch up?

(And for those that can't figure out the answer, it's simple. Keep your eyes and your ears open and staple shut that pie hold up .... and you might start learning a few things .....)
Young people cannot catch up because you "old folk" are baby boomers for a reason. You lived in the best times financially.
The system has been rigged afterwards, and young people pay a lot more taxes than previous generations and get a lot less wealth at the same time.

It has very little to do with age. But what is really sure is that young people understand technology a lot easier than old people. Look at a 5 year old using a tablet, and look at a 60 year old. Old people have to unlearn the old to learn the new, while younger people simply learn the new for the first time.

The fact that crypto is hated on so much shows how few people actually understand it. Decentralization with Byzantine Fault Tolerance is one of the most important and impressive achievements that we have ever achieved. It is the gateway to solve issues of corruption, concentration of power, mass manipulation and tyranny. It is the key to maximizing freedom and security without needing an intermediary. And anyone that does not see that simply does not understand the technology.
 

discoScrew

Posts: 12   +13
Young people cannot catch up because you "old folk" are baby boomers for a reason. You lived in the best times financially.
The system has been rigged afterwards, and young people pay a lot more taxes than previous generations and get a lot less wealth at the same time.

It has very little to do with age. But what is really sure is that young people understand technology a lot easier than old people. Look at a 5 year old using a tablet, and look at a 60 year old. Old people have to unlearn the old to learn the new, while younger people simply learn the new for the first time.

The fact that crypto is hated on so much shows how few people actually understand it. Decentralization with Byzantine Fault Tolerance is one of the most important and impressive achievements that we have ever achieved. It is the gateway to solve issues of corruption, concentration of power, mass manipulation and tyranny. It is the key to maximizing freedom and security without needing an intermediary. And anyone that does not see that simply does not understand the technology.
This is what we tell ourselves in the bull market :)
 

Danny101

Posts: 1,997   +830
At 49, I'm neither old and wise, nor young and dumb, but I see things changing. Fiat currency is a bust, The central bank system is a scourge and tool for the global elites to control the world. If cryptocurrency can destroy them, then I'm all for it.
 

cliffordcooley

Posts: 13,142   +6,437
Crypto is just as worthless as fiat, both backed by nothing.
They are both backed by the people investing in them. Crypto is being backed for its instability. A chance for people to make a few extra by investing. It is this instability that will keep it going and prevent it from becoming mainstream.
 

eforce

Posts: 636   +781
They are both backed by the people investing in them. Crypto is being backed for its instability. A chance for people to make a few extra by investing. It is this instability that will keep it going and prevent it from becoming mainstream.
It's not physically backed.