Americans invest in cryptocurrencies, and a quarter of The Economist respondents trust cryptocurrencies

2 min readApr 20, 2020

Americans invest anti-crisis allowances in cryptocurrencies

Coinbase reported the growth of $1,200 deposits, which is exactly what the US authorities pay as a quarantine stimulus.

Brian Armstrong, Coinbase CEO said that the number of such deposits has quadrupled. Last week, the U.S. government established allowances to individuals in the amount of $1,200 and $500 per child.

A quarter of The Economist respondents trust cryptocurrencies

The Economist conducted a study with over 3 thousand participants.

It turns out that 85% of respondents know about cryptocurrencies, and 55% have heard about central bank digital currencies (CBDC). At the same time, people with higher education are more likely to use digital currencies.

26% of respondents trust cryptocurrencies, 38% consider them unreliable, and 54% show confidence in CBDC. Most often, cryptocurrencies are used for payments (34%), 24% are interested in blockchain technology itself, the same percentage of respondents consider them as a short-term investment, and 23% as a long-term investment.

Cardano founder: Vitalik Buterin slows down the development of Ethereum

Charles Hoskinson, the founder of Cardano and CEO of IOHK, voiced his opinion on Ethereum and its CEO, Vitalik Buterin.

“So, basically Ethereum moves at the speed of Vitalik. So if he knows how to do something very well and he’s become very competent in something, they have a handle on it. But when you’re talking about research, when you’re talking about actually delivering a product to market, these are things that require experience,” said Hoskinson.

He also emphasized that this is the first project for Buterin where he acts as CEO. Another ETH problem, according to Hoskinson, is overly optimistic roadmaps.

“There’s just this raw belief that exists within the Ethereum community that somehow it’s all going to work its way out and it’s going to be done in a matter of months or years as opposed to decades,” he added.