Cryptocurrency Knowledge Survey: Ordinary People Still Think Cryptocurrency Is a Ponzi Scheme

It turns out that getting regular consumers and businesses to adopt Bitcoin remains a huge challenge. This is not surprising, as the general public’s view of cryptocurrencies has always been negative. Most people don’t even know what cryptocurrencies are, and the view that Bitcoin and its altcoins are Ponzi schemes is also very worrying.

A Torrent website held a "cryptocurrency common sense" vote. Since not everyone knows Torrent, the results of this vote cannot represent everyone's views. But this result is enough to show most people's views on cryptocurrency.

As expected, nearly half of the registered users said "I don't know what cryptocurrency is". This result is not surprising, because most people don't see other ways to store money besides their wallets and bank accounts. I'm not saying that their way is wrong, but the world is big and full of opportunities, and they should explore more and have more choices.

At the same time, there are many people who think that Bitcoin is a Ponzi scheme. In the eyes of most people, creating money on the Internet without the support of tangible assets is illegal. It can only be said that they do not understand the free market model. Nowadays, any financial value that is not controlled by banks or governments seems particularly mysterious to them.

As with the 2016 Bitcoin survey, there are some people who use cryptocurrencies regularly and even think they represent the future. However, this group of people is still in the minority. This is not surprising, as educational resources in the field of cryptocurrency are still relatively scarce, so people don’t care whether Bitcoin is a currency, an investment, or a means of storing value.

The following are the specific results of this survey.

What do you think of cryptocurrencies?

1. Cryptocurrency is the future 21%

2. I have used cryptocurrency at least once 9%

3. I think cryptocurrencies are a Ponzi scheme 20%

4. What is cryptocurrency? 50%

There is a lot of room for education in the cryptocurrency space. Although the number of conferences has increased, which helps people learn about cryptocurrencies, these conferences are generally priced too high. Perhaps small meetups are the best option at the moment. If we want to change the public's attitude towards cryptocurrencies, we must start with ourselves.