When we think about bitcoin and which countries interested in bitcoin the most, most of the people think about native English countries and China (admit it)
After following google trends, Similarweb and few more websites for over a year I can tell you that this post gonna change your mind.
Before we start, you will need to understand how Google Trends data is adjusted? according to their official website:
How Trends data is adjusted
Trends adjusts search data to make comparisons between terms easier.
Search results are proportionate to the time and location of a query:
- Each data point is divided by the total searches of the geography and time range it represents, to compare relative popularity. Otherwise, places with the most search volume would always be ranked highest.
- The resulting numbers are then scaled on a range of 0 to 100 based on a topic’s proportion to all searches on all topics.
- Different regions that show the same number of searches for a term will not always have the same total search volumes.
The picture below will show you how which countries searched the most for the term ‘ buy bitcoin’ in the last 12 months:
Nigeria – 100
Ghana – 91
Australia – 49
Singapore – 43
South Africa – 43
Let’s Get Deeper Into the Data:
So we have 3 countries from Africa: Nigeria, Ghana, and South Africa.
1 country from Asia: Singapore. And Australia.
I want to mention again this rule by Google Trends:
Each data point is divided by the total searches of the geography and time range it represents, to compare relative popularity. Otherwise, places with the most search volume would always be ranked highest.
It makes sense because, without these rule countries like USA, India, China and more will always be number 1 on google trends list.
” In Nigeria, local traders and activists believe this new money presents an opportunity to democratize the economy. This is propelled by the fact that people in Nigeria have been failed by conventional money.”(source see also “Kenyan President Nominates BitPesa Board Member for Cabinet” )
with a population of more than 192 million people that sees bitcoin as a better alternative for their own economy, it makes sense the Nigeria and other countries with a poor economy will choose bitcoin as the first alternative solution.
Let’s have a look at the most popular cryptocurrencies exchanges:
Poloniex is leading with 23.5 million visits (which today while writing this posts the number increased to 30.6 million).
Vietnam, South Korea, Nigeria, Ukraine, and Pakistan are the top countries on google trends for the term ‘ poloniex.com’.
The beautiful thing about bitcoin and the cryptocurrency market is that finally after thousands of years money have no borders, and it doesn’t controlled by any country.
I’m sure that we will see virtual currencies much more popular in Asia, Africa, and east European countries in the near future.
If you found this post useful, check out our free trading tool.
The fear of virtual money – Bitcoinphobia :
If you’re into bitcoin, cryptocurrencies, and blockchain you probably face the same problem: many of your friends and family members don’t understand what you’re talking about. I found it quite hard to explain people about the blockchain, what is cryptocurrencies and why bitcoin has value. And even after they do, many of them are afraid of this kind of technology and virtual money.
It made me start thinking, do we always afraid from this kinda of innovations? like when apple asked us to putt our credit cards information to open apple id account for the iPhone? back then it seems strange but now it’s just the norma. Well, it made me eventually start writing this post: The fear of virtual money – Bitcoinphobia .
In this post, I will show you few cases from the past of innovations that changed the way we live and faced a hard time when they released.
1) Fear of computers – Computerphobia
in the 80’s when the first personal computers arrived “computerphobia” started to appear everywhere. According to the book, Women and Computers people who had computerphobia suffered from fear and resistance from the computers.
“These can take such forms as fear of physically touching the computer or of damaging it and what’s inside it, a
reluctance to read or talk about computers, feeling threatened by those who do know something about them, feeling that you can be replaced by a machine, become a slave to it, or feeling aggressive towards computers.”
I tried to find videos of people reactions to the first computers but couldn’t find any (if you find something feels free to share it with us in the comments section). I didn’t want to leave you without a video so here is a commercial of the first television remote control! 🙂
2) Fear of Taxis –
In 1897, the first taxi with a fully functioning meter was invented. In the early 1990s taxis arrived in New York. It was difficult for people to adopt it. People said that they cannot trust the person behind the wheel, it might be ex-convicts. People were also afraid that the taxi drivers will charge them a too high amount f
or the ride.
The reaction in the early 1990s reminds me the reaction of people in the last few years to Uber. What if the driver doesn’t have the right skills? What if he will kidnap me? Maybe it will be a terrorist? that’s just a few of the reactions that I’ve heard before Uber became popular.
3) Fear of Telephones – Telephobia
You gonna love this one! It wasn’t easy for people to adopt the first telephones. The idea that you can speak with another person that locate thousand of miles from you probably made many people freaks out. Some people who suffer from Telephobia believed the telephones were used to speak with the deads. While writing this post I also found out the Thomas Edison least successful invention called “The Spirit Phone”(also known as the psycho phone). You can find more information about the spirit phone in the youtube video below and in this article (you won’t be able to find a lot of information about it on the internet!)
4) Fear of Technology – Technophobia
Technophobia began popular at the industrial revolution. With the development of new machines that were able to do the work of skilled craftsmen using unskilled, underpaid men, women, and children, those who worked a trade began to fear for their livelihoods. “In 1675, a group of weavers destroyed machines that replaced their jobs.” they were probably pissed when they realized this piece of metal is much better than them.
5) Fear of Virtual Money – Bitcoinphobia
Since bitcoin first established the young virtual currency was facing so much resistance from many directions. While writing this post I understood that we are facing the same era as when the money we are currently using replaced the gold. I’m sure the reactions were the same!
if you would like to read about people that are into cryptocurrencies that also faced fear or friends/family from the new currency check out this thread: do you know people that afraid from bitcoin and virtual currencies? share it