While it looks like almost everyone has heard of bitcoin, no one has apparently heard of eth according to a new survey by YouGov.
They say only 6% of women have heard of eth, while men are doing better at 19%. For bitcoin, 74% of men and 68% of women have heard of it, effectively everyone.
That may well explain why some mainstream papers keep calling ethereum bitcoin when the two are in some ways similar, but in many ways are quite different.
Just as it may explain while some keep blaming bitcoin for GPU prices when bitcoin GPU mining has not been a thing for five years, while ethereum mining is still somewhat profitable.
Interestingly, some 44% of millennials, measured here as 18 to 34 year olds, think cryptos will become widely accepted for payments within the next ten years.
Of those, half of all millennials, some 48%, say they’d like to primarily transact in cryptos rather than in dollars. Suggesting in effect the level of interest for transacting in cryptos is now becoming mainstream.
There’s clearly a generational divide here as can be seen, with older people being less knowledgable of cryptos and thus less enthusiastic about it. While the middle aged group is pretty much in the middle of attitudes too.
A further finding was that 87% of those who had heard of bitcoin had no interaction with it. That being 87% of 74%, so if our calculation is correct that means 17% of all Americans have bought, sold, or mined bitcoin.
Something which suggests the tipping point of 10% have passed for bitcoin, with the newer generation now a lot more familiar with it and a lot more willing to use it.
While for eth, the tipping point of 10% in awareness has passed, at least in America, suggesting that current eth investors are at the late stage of early adopters, but as it still appears to be very early on in the game for eth, all current eth buyers and sellers are still early adopters.
The tipping point theory suggests that if a belief is held by 10% of the population, then it eventually spreads to effectively everyone. For eth that may translate to everyone eventually knowing what it is, while for bitcoin a stage may eventually be reached where practically everyone has transacted with it.
Whether that will indeed be the case remains to be seen, but it does look like the millennials see the many benefits of cryptos and are therefore happy to use them.