Post
Topic
Board Bitcoin Discussion
Re: I conducted a survey Crypto vs Gold investment
by
Svafnir74
on 05/05/2018, 13:34:26 UTC
This is a real survey with 739 paid for responses. The survey targeted the US internet population.

The survey asks "Would you rather invest in cryptocurrencies such as bitcoin, or gold?"
I got 69.3% would rather invest in gold
14.8% would rather invest in crypto
and 15.9% choose gold because they don't know what crypto is

I don't know if this is against forum rules, but I posted it on my twitter @CryptoSurvey1

Appreciate your feedback I will be conducting more surveys soon.


EDIT: Gold vs Crypto

The above ground gold supply is 187,000 tonnes, which worth about 8.5 trillion. Of the 187,000 tonnes 40,000 tonnes, or $1.8 trillion of it is private investment. Crypto market cap right now is 600 billion. 14.8% of survey respondents would rather invest in crypto, vs 69.3% would choose gold. That means 21.4% choose crypto over gold, since the participants who don't know what crypto is, need not be counted since in the future they will learn about crypto. Of course they know about gold, it has been around forever.

If we try to compare investment gold value, to the crypto M cap we get 1.8 trillion * 21.4% which would justify a crypto M cap of 385 billion. Keep in mind that crypto is much larger in East Asia, and compared to gold it's brand spanking new. Also official sector gold is not counted in the investment gold even though it is an investment, held by the governments and central banks. This is 31,500 tonnes, or 16.8% of above ground gold. If official sector gold were counted as investment gold we would have 3.2 trillion * 21.4% which would justify are crytpo M cap of 685 billion.

People still know very little about bitcoin and cryptocurrencies. This is in spite of the fact that bitcoin is now becoming popular. It takes a long time before people understand the benefits of investing in cryptocurrencies. In 10-12 years I think gold will be in second place after bitcoin.