Crypto currency (IF banned from CA)

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DuuuncanHadaPigeon said:
So the takeaway is 5% own BTC and this figure has remained pretty much constant for the 3 most recent years in this study. Does this sound like peak market penetration to you?

Love the way you missed out 'educated' and 'high household income' from that line. Young, well educated men with a lot of disposable income choose to invest in risky, speculative assets, what a massive surprise that is...
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Market penetration refers to how many people in the market are aware of the product. 89% suggests the only Canadians unaware of it were either born recently or will be dying recently.

The fact that the ownership percentages haven't increased as more people became aware of the product tells you that even though more people are aware of the product they aren't buying it, like I suggested originally.
 

Efcjake said:
Market penetration refers to how many people in the market are aware of the product. 89% suggests the only Canadians unaware of it were either born recently or will be dying recently.

The fact that the ownership percentages haven't increased as more people became aware of the product tells you that even though more people are aware of the product they aren't buying it, like I suggested originally.
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According to investopedia;

'Market penetration is a measure of how much a product or service is being used by customers compared to the total estimated market for that product or service'

so it's about converting awareness into sales, everyone in the world could know about my product XYZ but if no one buys it I have no market penetration.

Are you really trying to tell me that is peak market penetration? such a weird angle to attack BTC with when you have just proven yourself wrong...
 
DuuuncanHadaPigeon said:
According to investopedia;

'Market penetration is a measure of how much a product or service is being used by customers compared to the total estimated market for that product or service'

so it's about converting awareness into sales, everyone in the world could know about my product XYZ but if no one buys it I have no market penetration.

Are you really trying to tell me that is peak market penetration? such a weird angle to attack BTC with when you have just proven yourself wrong...
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The fact that you had to look up the definition supports the bank of Canada's claims regarding financial literacy.

The total estimated market would be the 89% of Canadians aware of the product.

As you said, the percentage of people who have bought the product has not increased relative to the increase in the potential market (people aware of bitcoin) suggesting that even as the potential market increased the product is not being purchased at a similar or higher rate.

That awareness is not being converted into sales hence my suggestion that it has reached peak market penetration.
 
Efcjake said:
The fact that you had to look up the definition supports the bank of Canada's claims regarding financial literacy.

The total estimated market would be the 89% of Canadians aware of the product.

As you said, the percentage of people who have bought the product has not increased relative to the increase in the potential market (people aware of bitcoin) suggesting that even as the potential market increased the product is not being purchased at a similar or higher rate.

That awareness is not being converted into sales hence my suggestion that it has reached peak market penetration.
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I looked it up to get a definition because you said 'Market penetration refers to how many people in the market are aware of the product' which I don't think is right, but this is just semantics.

I admit I thought you were making a different point when you said 'peak market penetration' but see what you are getting at now and broadly agree. I said it in this thread months ago, when the richest man in the world has bought BTC, who is left to buy...

BTC is the myspace of crypto
 

A lot of posts since i last peeked in here.

Sounds like there are A LOT of wealthy people in this thread that shorted bitcoin and other tokens...
 
DuuuncanHadaPigeon said:
I said this to @Efcjake yesterday, if you are so convinced it's going to zero, open a short position with everything you have, free money right??
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I'd suggest anyone posting such negativity about crypto and seemingly delighting when it drops are a bit weird...

...unless theyve shorted.

Sadly i dont think most know what that means :)

Certainly seems that people are outraged but dont actually back their convictions.
 


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