I first heard about this new underground internet money called “Bitcoin” while I was in university in 2012. I read about it for just a few hours, but was hooked and couldn’t imagine turning back. Because of my mathematics background, I was fascinated by the algorithms that made Bitcoin possible. From there it’s not so difficult to be fascinated by the idea of money that’s not controlled by any government or central entity. Like many other early cryptocurrency adopters, I couldn’t stop talking about it. From every family dinner to every date I went on, cryptocurrency seemed to come up.
As expected, many of these conversations were met with skepticism. Most of the criticism fit into three categories:
It’s not backed by anything.
Digital money doesn’t seem real.
It’s unsecure.
After lots of these conversations, one thing became clear to me: many people I spoke with had absolutely no idea how our current fiat system works. Was this just limited to the people I personally spoke to? Was I using a bad sample size? Or does this lack of understanding extends to those who come from far outside my personal circle? To find out, our team surveyed 1,000 Americans on September 17, 2019 and asked them a series of 23 questions to better understand their views around money and banking.
Please like and comment☺☺