Who Is Fooling Who?

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My view is these are negative reports and are just as bad as FUD in many ways as they are fake news and not real. What happened to getting the right figures and doing your research properly?

Whoever came up with these figures did exactly by coming up with them as just from a South African view point they are not even close. A population of around 62 million with 20 million under the age of 18 meaning that nearly 13 million people in South Africa regularly trade crypto. The Government cannot even do a Census properly reporting on the number of people living in South Africa so how anyone came up with these figures is mind blowing.

This is pure B.S and is so far of the mark it is laughable considering we have a high percentage of unemployment with a majority living under the breadline. It is so believable that someone will purchase crypto when they cannot make ends meet? Give me a break as there is some angle being played here as to look who is behind this data.

Morning Consult, World Bank and Bloomberg Opinion calculations. Are they trying to get regulation happening faster than normal by trying to scare those in charge into making decisions? Kind of looks like it as the figures look way out even if we had to say adoption is happening slowly. This is not slow according to these stats and why I say B.S as I only know a few people who have crypto in my circle.

Business owners will have crypto in South Africa due to the need to have a safety net away from the weakened currency but the general population cannot afford to even save let along mess about with a technology very few have any idea about.

The only people I know who are aware and use cryptocurrency are the foreigners from Zimbabwe, Mozambique and Malawi as they use various DApps to send funds back to their loved ones. Most are unbanked having no papers and in many ways are illegal immigrants as they don't exist on any paperwork.

Trust me if we had 32% of adults investing in crypto in South Africa the Government would be all over this right now and they aren't. Many stats from other sources state somewhere between 10 and 155 of the SA population is involved in crypto in some way or form and that would be about right for where we are.

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My thoughts exactly as someone is definitely smoking a powerful mix as this just sounds like way too much. If we had this sort of adoption already the market would not be in this situation right now as 900 million crypto adopters is a healthy number. I don't believe any of this for one second and do think there are games being played or manipulation games to force regulation to happen faster than it would justifying these figures.

When adoption happens we will know about it and it is not happening at the bottom or close to the bottom of a bear market. When most of crypto is down by 95% do you think adoption is going to take place as we all know this is the best time to get onboard, but the majority won't nd will wait until there is hype and all time highs.

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Good point. Even if these numbers were accurate they would only take into account transactions that authorities can gain access to. It's impossible to track from a geolocation point of view most of the on-chain transactions.

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I have same thoughts about this figures when i first saw this report.

To be fair honest, my country figure in this one seems correct > 5th Largest.

And I have seen thousands of people into crypto from my country but adult figure doesn't make sense to me either and as we are facing economic crisis people are somewhat looking for a way to not Get hit by wave so that's probably why adoption is increasing in most part of the world.

Adoption will increase way more in hype or Highs than at this point where everyone should look into Good investing opportunity but only few will to take risks in uncertainty.

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Makes no sense where we are in the crypto cycle. I would understand Turkey or Argentina due to their currency losing value at alarming rates. Are you saying 37% of adults in Pakistan have purchased crypto in the last month as this is what they are saying. I just think the numbers are way out on most countries.

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We are hearing News about Country Getting Default almost every other day > industries shutting down etc and so far in 2022 fiat has lost value at alarming rate now might be reason behind this but

37% of adults is absolutely false... Mostly they don't even know or take crypto seriously. Agree with you! Numbers can't be real that's for sure.

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Waw. Seems like Nigeria is smoking lots of crypto weeds

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Hey, don't let the facts get in the way of a good story, right? Just another example of how the mainstream media and our governments don't have a clue as to what's really going on. They're trying to do calculations with an abacus while the rest of the world is doing them on their phones.

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They must want to speed up regulations on crypto that's why they throw this smokescreen to stir up the waters and attract eyeballs. Like you mentioned above, we're in a bear market, so these numbers are far from being factual. They simply don't match with the current reality. I wonder what their real motives are in throwing out this fake report.

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The survey bias is really bad and I have seen a lot of the pooling being complete misses lately. So I also don't trust these surveys. I think the number is a bit too large for the number of people in crypto. If anything, the economic factors are so bad and I don't think they have time to worry about crypto right now.

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