Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Rakin343 on July 04, 2021, 12:04:21 AM
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What leads people down the crypto rabbit hole? Not a vitriolic hatred of cash or Wall Street, found researchers at the Bank for International Settlements, a consortium of central banks, but more prosaic things: staying up to date with technology, being male, and one’s education.
In one of its latest papers, published on Thursday, the BIS used statistical analysis to disprove the theory that crypto investors are “motivated by distrust in fiat currencies or regulated finance.”
The analysts scraped data from a survey conducted by the U.S. Survey of Consumer Payment Choice, which asked 3,273 people to rate the security and convenience of cash, bank payments and online payments out of five.
It turns out that people do trust cash and banks and online payments apps. Responses averaged from 2.7 to 4.
And although people who gave lower ratings to traditional banking tech tended to learn about cryptocurrencies, they weren’t any more likely to invest in them.Source (https://cryptonews.net/952821/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)
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Yes, people's confidence in national money and the world currency will continue along with the growth of liquidity and the spread of cryptocurrency around the world. People invest in cryptocurrency not because they do not believe in fiat, but because they see new opportunities for using cryptocurrency and, most importantly, the opportunity here to increase the amount of the same fiat as the ultimate goal.