Americans and Bitcoin: Survey says…

By | February 17, 2014

title insurance New York and Long IslandFor those who have been following the Bitcoin saga, the Q&A concerning the viability of this sovereign-currency alternative depends in no small measure on the belief of the general public in its value, reliability and long-term potential as a payment system!

Let’s take a look back at two recent articles published here that at first presented Bitcoin as a potential currency for real estate transactions and then, only nine days later, pointed out the fact that owners of Bitcoin were being prevented from withdrawing their funds due to attacks on the websites of two major exchanges.

And as the saying goes a good reputation can take years to establish but it can be destroyed in the space of days!

On February 2, 2014: Bitcoin and real estate transactions! (Video)

‘As Bitcoin continues to gain the confidence of the marketplace as a viable and reliable form of money,  it seems destined to move closer to the mainstream of business!’

And on February 11, 2014: Update: Is Bitcoin coming unglued?

Now, however, turmoil has struck this decentralized non-currency store of value as two major players in the marketplace have put restrictions on the ability of Bitcoin owners to withdraw money from their accounts.

So what do Americans think about Bitcoin and whether it will be a widely accepted alternative form of payment five years into the future?

From the CFA Institute this chart represents the results of a poll it conducted one week ago asking 1,183 investors the following question:

Will Bitcoin Be a Viable Alternative Currency in Five Years?

Bitcoin viability survey

What do you think? Post your opinion in the comments section below.

DID YOU KNOW THIS ABOUT TITLE INSURANCE?

title insurance New York and Long Island

Hallmark Abstract Service Preferred Vendors

Leave a Reply

Your email address will not be published. Required fields are marked *