It’s Clear That The Future Of Bitcoin Is Not In The US

If you’re reading this story in the U.S., you’re probably someone who’s heard a lot about Bitcoin, but doesn’t know anyone who actually owns any.

If you’re a European reading this story outside the Eurozone, or perhaps a resident of Hong Kong or Russia, the reverse may be true: A majority of your compatriots may not have heard of Bitcoin, but anyone sophisticated enough to have read up on it now likely owns some.

As Bitcoin enters its fifth year in the wild, its largest concentrations of users can now be found not in the U.S. — which enjoys a stable banking system and a galaxy of existing mobile payments services — but rather in places where Bitcoin’s core offerings — a hedge against inflation, a means of quickly executing transactions over long distances — can actually be tapped into.

“The reality is that in North America, consumers have access to a fairly decent set of financial services,” Peter Smith, COO of Bitcoin wallet firm Blockchain, told BI in an email. “This isn’t the case in the majority of the world. In fact, a huge portion of the world has little to no access to anything that would give them an even base level of financial capabilities.”

Here is what the chart looks like for per-capita downloads of Bitcoin software from SourceFourge. In the lead are all the countries in Europe that have not yet adopted the Euro. The U.S. ranks 15th.

On a currency basis, RMB-denominated Bitcoin trades now outrank USD despite a seemingly never ending stream of threats out of the People’s Bank’s of China that they’ll end all transactions.

denominated bitcoin transactions

The list of most Bitcoin nodes, or Bitcoin transaction confirmation servers, by population also shows the U.S. barely cracks the top 10, although there is a bit of a skew towards countries with cooler climates.bitcoin nodes per capitaEven in Europe, there are more than a dozen countries who don’t use the euro, making cross-border transactions on the continent problematic.

Ironically, overall investments remain concentrated in the U.S., though that may simply be a function that this is where the money is. Still, a third of all Bitcoin VC funds are now outside the U.S.state of bitcoin condesk

In an interview — For more information read the original article here.    

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