Bitcoin Reddit Poll Shows College Students Still Don’t Get It; 80% Prefer 1 USD Over 1 BTC
College Students Still Don’t Get It; 80% Prefer 1 Dollar Over 1 Bitcoin
It seems that 80% of college students do not know about Bitcoin and think the best is to own 1 dollar over 1 Bitcoin (BTC). In a recent video that was posted on the r/Bitcoin subreddit, an interviewer asked students what they prefer, if $1 USD or 1 BTC. The answers were surprising because Bitcoin is being traded close to $8,000.
Bitcoin Or Dollars?
In this recently uploaded video, it is possible to see millennials and students that do not have any basic idea about Bitcoin or how it works. Most of them were ready to accept a dollar but not an entire Bitcoin. Additionally, those that knew about Bitcoin couldn't accept it because they also didn’t have a wallet ready to accept the BTC.
Indeed, most of the respondents considered that the dollar is more liquid than Bitcoin and that they could easily exchange it for goods or services. However, the interviewer explained that Bitcoin can be traded at exchanges and that it has a relatively large market for users to buy or sell the digital asset.
One of the respondents said that they could lose a Bitcoin because it works with a password and if you lose that password you lose that BTC. This wouldn’t happen with a dollar, the student said.
Moreover, after hearing what Bitcoin is and how it works, several of them changed their opinion about Bitcoin and the US dollar. Most of them preferred a Bitcoin over a dollar. However, this is simply because 1 BTC is worth more than 1 US dollar and not because of other reasons.
The cryptocurrency community is not dealing with Bitcoin because it has a high price compared to other assets. They are in the community because they believe ina decentralized future without central authorities and financial institutions controlling users’ financial lives. Bitcoin can also be used in other countries with financial instability to store value or process transactions.
Erik Finman, a Bitcoin young millionaire, said that Bitcoin has to solve some issues if it wants to survive in the future. One of the four issues he marked is the fact that Bitcoin must have an easy way to attract new users rather than complicated platforms that request large information from users and individuals.
Indeed, it is still stressful for Bitcoin users to send funds to a string of letters and numbers that must be perfectly written for them to work as an address.