Understanding the user base of an unregulated cryptocurrency is no easy feat, but a new study attempts to shed light on Bitcoin users — what type of people they are and what their motivations are for using it. Spoiler alert: key data returned evidence of a distinct correlation between computer programmers and Bitcoin, and illegal activity and Bitcoin.
Due to the fact Bitcoin users are protected by the anonymity of the currency, the study authors from the University of Kentucky used Google Trends data to examine the reasons for interest in Bitcoin. While they recognise this search data alone cannot be used as a definitive method of defining participation, they can use it to build on existing research and anecdotal evidence and create profiles for the types of people most likely to use Bitcoin.
By: Katie Collins,
