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True Value of Crypto: A CryptoMax Study

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Written by   784
1 year ago

You may be wondering what I was up to the last two days. Well, finally I'm in a place to tell you.

I recently thought about doing a study about the true value of crypto, in which I would leave all of the "experts" out of it and I would ask a simple question to the Crypto adopters of the world:

  • If you were given the chance to get $100 in USD today, what value would you need to get off each crypto to prefer getting it in Crypto rather than in USD

I selected a sample based on some interests I'm going to disclose below, and I posed that question with the top crypto in mind.

The answers were a bit worse than I thought, but that just tells us that sometimes the way we perceive the market is wrong.

Read the rest of my case study and you might learn a thing or two.

How I Selected The Sample: The Study's Foundations.

So, the sample crowd was selected in a simple way:

  • I started showing Ads to people who liked Crypto content;

  • The Ads would collect surveys with a simple question "Would you rather get $100 USD or $100 in crypto?"

  • The form would then prompt the person to fill in an amount of the crypto that would make him prefer it over USD.

  • The cryptos supported by the study were XRP, DOT, ADA, BTC, BCH, DOGE, USDT, ETH and BNB.

I paid for Ads to expedite the study, but most of the traffic was directed from my mainstream blogs.

The segmenting was done to tackle people who were exposed to crypto searches already - having the coin handles of the previous tokens being made the segmening factors.

In short, if people made any search including the terms ETH, BNB, USDT, BCH, BTC, DOGE, ADA and DOT and had this information in their browsers' cookies, the form would be visible for them - again, mostly on my sites but also on PTC partners (media buying).

The results were cool and very revealing, although a bit more discouraging than I would guess.

By the way, the sample is comprised of 100 respondents, although I had to expose around ~13000 people to the Survey Monkey form to get enough answers (which is to be expected).

The Results: Here Are the Study's Results

So, I collected the answers and calculated the averages on Excel, rounding the results to have no decimal cases.

This is what I got:

Yes, this means that people still prefer getting $100 in USD over every crypto, on average, even though some exceptions were found.

Overall, people would prefer to get $100 USD.

If they would get crypto, here is the average value of what they would demand instead of the $100 in US Dollars:

DOT: $120

ADA: $107

BTC: $296

ETH: $156

USDT: $109

BNB: $133

XRP: $114

DOGE: $130

BCH: $105

Now, due to my limitations in getting respondents (budget and so forth) I only had a 100 people sample so I don't mean to say this perfectly represents the overall opinion.

On the other hand, this already gives us some insight - because people filling in the study are searching for these tokens so I expect I have respondents from every field - although I cannot possibly make sure.

People claim to always need more USD value in crypto to be able to prefer it, which is something I didn't expect since some of these tokens are, to me, undervalued, but people seem to still prefer USD.

Now, let's analyze each of the results...

The Winners, The Average, The Losers:

In my opinion, we can clearly see that there are some winners, some losers, and others on average.

  • The Winners: ADA, BCH

The big winners here have to be the tokens which got an average under $110.

I found it surprising that these tokens were the ones to get the best numbers even though I am a BCH bull.

Perhaps the people looking for these terms are loyal to the token they prefer, perhaps it's due to the low fees, perhaps it's due to the fact they think the token is undervalued.

The reasons may be varied, but the results speak for themselves... people allocate value to BCH and Cardano the most.

  • The Losers: BTC, ETH

I think this was the most predictable result of the study.

When I was preparing the form I already thought these would have a very high value due to the fact that you lose money just by transferring the tokens around.

I firmly believe that the scenario will change for ETH, but it will be difficult for BTC as they proved to have no way to reliably scale other than centralization.

ETH, with all of its problems with fees, sits at $156 on average which isn't too far from the average and is kind of a good news piece for Ethereum fans - if ETH solves its scaling problem and reduces fees then it will probably have a HUGE room to grow.

BTC with an average of $296 just shows how broken the ecosystem is.

People fear it so much than they need near triple on average to prefer the value to be in BTC rather than USD and that says a lot.

People are afraid of BTC.

  • The Average: A Tool to Conclude

The global average was of $146, which shows us that people still think of USD as "real money" and prefer it over crypto, no matter what token we're talking about.

Granted, this average is seriously pushed up by the BTC respondents, but it illustrates just how early we are.

Not only that, people also prefer USD over crypto because they know if they want they can buy crypto with those $100... so even BCH and ADA respondents wanted to have a higher amount if received their value in crypto - after all, why not just get USD and buy crypto if the fees are low?

This is a limitation in my study, I can agree, and next time I'll think of a way to solve this.

However, I think the results can illustrate a bit of what goes through people's minds in several different cryptos - and show us just how widespread the discontent with BTC is.

So, what did you think of this study?

Do you have some suggestions for the next one?

Also, any idea how can I overcome the fact people could use the $100 to buy Crypto in the first place so I could get the true value and not only values above the base $100?

Hope you liked the work.


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Written by   784
1 year ago
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Your article has a great reasearch sir and well informed, If I have $100 now I invest in BCH while its on a Big DIP, If I buy in the low price the value of it will rise and if this rise I have a chance to become a millionaire if I have $100 for now. I want BCH will become the future coin because its now adopt in the merchants and soon this will continue to use.

By the way I hope you can read my article my experience in the thank you.

$ 0.00
1 year ago

A very interesting study turned out. And the results, too. If I took part in your research, I would prefer BCH, BTC, ETH. These are reliable assets where it makes sense to make a long-term investment. US dollars are experiencing inflation and their value is increasingly declining.

$ 0.00
1 year ago

Excellent article as always. I think that for the most part, people still don't perceive crypto as money. Even for those of us who live in this world of crypto, we still handle them as securities to save or use to invest and get more value. But we do not use them as currency for our daily life.

If the quantity supplied were larger, say $100,000, perhaps the result would be different. My logic is the following, $100,000 is not an amount that you normally use as currency, you would use it to create insurance for the future. In this way they might have preferred cryptos. But $100 is an amount that will not change their life, therefore they prefer it in a currency that they can use in everyday life.

It is just a hypothesis of course, but the point is that even those who know a lot about this world, do not treat cryptos as money. And I think the difference may have been there.

Of course this also means that we have a lot of work ahead of us. Campaigning to make them better known and used in our daily lives. BCH is tops as always. I think it is one of those with the best chances of achieving this task. We must follow in the footsteps of great pioneers like @MarcDeMesel and put BCH in its rightful place.

In any case great work and I really appreciate your efforts and your publications. Nice to see that you are successful. Until next time.

$ 0.10
1 year ago

Thank you for your analysis. I believe in BCH

$ 0.00
1 year ago

I love this analysis and this speaks so well about the prospect of BCH which I am happy about. Ignorance sometimes would make people rather hold the $100 bill than invest in crypto. I am not surprised to see BTC as the biggest loser as we have come to see in recent weeks now. Most people see it as a get rich quick scheme - pump and dump. I am a firm believer in BCH.

$ 0.05
1 year ago

I smell Altcoins surging <3

$ 0.01
1 year ago

The data you collected was very interesting, but it is really necessary to have a larger sample, let's say a universe of 100,000 people or more in order to have a more accurate analysis. I know you couldn't do it because it's expensive, but I still appreciate this little experiment. Apparently that many people have that mentality of preferring the USD, at least the universe of those who visit your blogs.

Oh and thanks to you and Mr. DeMesel for the 3% ($ 46) this time! :D

$ 0.10
1 year ago

Sir, I feel envious. But according to what they teach, being envious is a sin. So let me just be happy for you as much as I am happy for the success of our friend CryptoMax.

$ 0.05
1 year ago

In crypto world ups and downs are so haphazardly that no one have certainty about the value they got 100$ would remain same.So my priority also would be USDT instead of Crypto.Your analysis and explanation through the picture of Vacutainer made me able to Think it is like research article but again I found the final result BCH is real hero and winner rather than ETH and BTC as a losers.After two days study you have more refined thinking.Applause to you Sir.

$ 0.05
1 year ago