Tag Archives: techcrunch

TechCrunch: Is Bitcoin the new Paypal?

TechCrunch posted an article today comparing Bitcoin to the early Paypal days—when fraud, theft, and technical issues ran rampant. TechCrunch’s headline would probably be a bit more accurate if “Mt. Gox” were substituted in place of “Bitcoin” (and to be fair, the body of the article mostly focuses on the current problems plaguing Gox when drawing comparisons to Paypal’s early days), but the write-up is interesting nonetheless.

I do remember a time when Paypal was regarded in much the same way that Bitcoin is today. Back then, trusting a fledgling internet company to “send money across the web” was something that crazy people did. Times have certainly changed, and it’ll be interesting to see where the public perception of cryptocurrency is in five or ten years.

In related news, Mt. Gox issued a short update today apologizing for the continued delays while they work through their issues. What’s up with the “security problems” that Gox claims forced them to relocate? Rumor has it that they’re referring to the three-person protest currently taking place outside their headquarters.

Techcrunch: people increasingly familiar with bitcoin; majority trust it

bitcoinTechcrunch posted an interesting article that examines the results of a recent international survey around Bitcoin. It turns out that over a quarter of the people surveyed in the US have heard of Bitcoin, and the majority of those people trust the digital currency. From the article:

So what do U.S. consumers make of Bitcoin right now? Well, according to the survey, just over a quarter (25.3%) have heard of the crypto currency — which means the U.S. is lagging the other two countries also surveyed for the poll, Argentina and the U.K. In those nations, Bitcoin awareness is apparently in the region of a third, with 37.9% and 32.2% Bitcoin-aware respondents respectively. However it’s worth flagging that the research polled far fewer consumers in Argentina and the U.K. (760 and 2,731, respectively) so the margin of error is likely to be higher.

I’m a little surprised by the results and would be interested to learn how the survey was conducted. I know that in my own circle of friends, the overwhelming majority have never heard of Bitcoin. Still, it’s encouraging to see that  awareness around cryptocurrency seems to be increasing.