Post
Topic
Board Economics
Re: Reality Check on Crypto
by
LoyceV
on 17/10/2021, 11:28:37 UTC
In the first world, most users are indeed doing well with the current financial system
What exactly do you mean with "doing well"? If you mean I have a bank account with a working debit card that I can use to buy groceries, then yes, I'm doing well.
But if you mean a financial system that protects my money from inflation and doesn't cause a financial crisis because it's based on debt, then no, I'm not doing well at all!

The data varies, but the most comprehensive piece I found is this one
It can't be right: I already have my doubt about "300 million crypto users", considering there are only 38 million funded Bitcoin addresses. One could discuss what "ownership" means if they keep it on exchanges (or in shitcoins), so it may be plausible to reach 300 million. But it continues: "36% have an annual income over US$100k", which would mean more than 100 million crypto owners earn over $100k. That seems a bit high considering most of them live in poor countries.