According to the survey conducted by international law firm Foley & Lardner, Ethereum is the most attractive cryptocurrency to investors.
The authors of the survey tried to find out the opinion about regulation, investment preferences, ICO, the probability of complete collapse of the market etc. Catherine Trkla, who heads the blockchain group in Foley & Lardner commented on the poll results:
Interestingly, the number of respondents who prefer some degree of Federal regulation is so great. The reasons may be different, but it is recognized that decentralized platform has not play a significant role. When cryptocurrencies are exchanged for USD or other Fiat currency it somehow passed through the existing regulated financial market infrastructure.
The survey involved 62 specialists who hold leadership positions or are independent investors or traders, mainly in the United States. Age ranged from 20 to 50 years. Among the interviewed investors are about 30%, business executives, about 26% of lawyers and 17% of consultants and 9%, traders is 5% developers 5% and by specialists from other regions – 8%.
Key highlights of the survey
In your opinion, what is cryptocurrency the most attractive from the investment point of view?
- Ethereum – 38%
- Bitcoin – 35%
- Ripple – 5%
- Dash – 2%
- Zcash For / Monero – 2%
- No – 9%
In your opinion, what cryptocurrency will be massively used to make payments for goods and services?
- Bitcoin – 43%
- Ethereum – 17%
- Ripple – 10%
- Dash – 5%
- Zcash For/Monero – 2%
- No – 12%
Do you think that any cryptocurrency will overtake Bitcoin in terms of market capitalization?
- It’s possible, but it is too early to talk about it – 35%
- Yes within 1 year – 5%
- Yes, within 1-2 years – 14%
- Yes, within 2 to 5 years – 18%
- Yes, after 5 years – 5%
- Yes, but I don’t know when – 12%
- Never – 11%
How do you assess the probability that the cryptocurrency bubble” burst?
- Yes, in the next 12 months – 41%
- Yes, for 2-5 years, 29%
- Yes, after 5 years – 4%
- No – 27%
In your opinion, should States or Central banks to create their own cryptocurrency?
- Yes – 25%
- No – 58%
- Don’t know – 17%
In your opinion, should the investors invest in the cryptocurrency exchange-traded funds (ETF)?
- Yes, Bitcoin and other cryptocurrencies – 69%
- Yes, only for Bitcoin – 3%
- No – 19%
- Don’t know – 9%
What form of transaction confirmation has the highest resistance in the long term?
- Verification using hashing (ie Proof of work) – 28%
- Confirmation by the Proof of rate – 28%
- Confirmation through confirmation of identity and reputation (i.e. the reputation Confirmation) – 14%
- No opinion – 26%
Do you think that the ICO should be regulated in the USA?
- Yes, the U.S. Federal government – 70%
- Yes, the respective jurisdictions of individual States – 2%
- Yes, at the Federal level and at the level of individual States – 12%
- No – 16%
Do you think that buying and selling of crypto-currencies should be regulated in the USA?
- Yes, the U.S. Federal government – 57%
- Yes, individual States – 2%
- Yes, at both levels – 9%
- No, neither at the Federal nor at the state level – 32%
Do you think that the use of cryptocurrency as a means of payment for goods and services should be regulated in the USA?
- Yes, the Federal government of the United States – 37%
- Yes, at the state level – 7%
- Yes, at the Federal and state level – 11%
- No – 46%
Do you feel that the industry needs to develop common standards for yourself?
- Yes – 86%
- No – 14%
If you believe that cryptocurrencies are in need of regulatory oversight, what exactly, in your opinion, should do the regulators of the United States?
- Continue to fight fraud in this area – this will stop bad actors – 75%
- To create committees and/or task force for a better understanding of the technology/market to create rules – 57%
- To quickly determine if a cryptocurrency is actually a security – 51%
- You need to observe but not to intervene in technology development – 51%
- To create a “regulatory sandbox” that allows to experiment with new products and technologies without a full regulation – 49%
- Quickly enter the regulation – 19%
The respondents were interviewed in March and April 2018.