Saylor Bitcoin Twitter Personality Of The Year – Bitcoin Magazine
Bitcoin users place more importance on a politician’s BTC-related policies and agenda than their party, a Bitcoin Magazine survey has found. Over 72% of respondents said they would vote for a pro-Bitcoin candidate even if they were not part of their preferred political party.
The first edition of Bitcoin Magazine’s annual survey, which collected responses from over 6,600 Bitcoin holders from August 15 to October 19, 2022, also found that the majority of them considered themselves Bitcoin maximalists (56.2%). However, over 68% of respondents also own other cryptocurrencies. Interestingly, 60% said they would prefer to buy products from Bitcoin-only companies.
Intended to gather community feedback on Bitcoin Magazine’s existing content, as well as to better understand user preferences, the survey shed light on many interesting aspects of the Bitcoin community and its members.
Three quarters of respondents buy bitcoin through regulated exchanges, with the top choices being Binance (34.8%), Coinbase (20.6%), FTX (7.4%) and Kraken (6.6%). FTX’s preference is naturally bound to fall close to zero after the stock exchange’s application for bankruptcy less than a month after the survey. Peer-to-peer (P2P) trading, which is more similar to Bitcoin’s intended design of transactions without intermediaries, was shown to be a strategy for only 18.7% of surveyed users.
Adoption of the Lightning Network, Bitcoin’s overlay network for faster and cheaper transfers, was found to be strong. Of all respondents, 70.4% shared that they have made at least one Lightning payment. The preferred wallets of users were Wallet of Satoshi (27.1%), Muun Wallet (25.4%) and Blue Wallet (23.7%).
In the case of mining, participation was unsurprisingly more timid. Probably due to the technical complexity of setting up an ASIC miner at home, only 12.6% of respondents said they mined bitcoin at home. That’s about half the percentage of those who run their own nodes –– more than a quarter of respondents (24.5%).
The majority of respondents have custody of their BTC themselves, the survey found, and accounted for 62.3% of users. The preferred hardware wallets are Ledger (43.7%), Trezor (16.4%) and Coldcard (10.2%).
When it comes to learning and consuming industry information, the survey found Twitter to be the primary channel, with 28.1% of respondents saying it was where they primarily went. Respondents chose Michael Saylor as Twitter Personality of the Year (48.9%), followed by Yellow (10.1%) and Natalie Brunell (8.7%). Podcasts came a close second (26.4%), with the most popular of them being Peter McCormack’s “What Bitcoin Did”. Video came third (22.2%). Although not many respondents mentioned books as their main source of information, the most recommended text on Bitcoin was The Bitcoin Standard by Saifedean Ammous.
As businesses pass on Satoshi’s torch, the survey found that most Bitcoin users introduce their friends to bitcoin (70%), while some also share the good word with their parents (31.5%). Only 17.3% of respondents were not in favor of Bitcoin at all and instead preferred to remain silent on the matter.