Of two minds, multiple addresses, and one ledger: Characterizing opinions, knowledge, and perceptions of Bitcoin across users and non-users

Xianyi Gao, Gradeigh D. Clark, Janne Lindqvist

Research output: Chapter in Book/Report/Conference proceedingConference contribution

37 Scopus citations

Abstract

Digital currencies represent a new method for exchange - a payment method with no physical form, made real by the Internet. This new type of currency was created to ease online transactions and to provide greater convenience in making payments. However, a critical component of a monetary system is the people who use it. Acknowledging this, we present results of our interview study (N=20) with two groups of participants (users and non-users) about how they perceive the most popular digital currency, Bitcoin. Our results reveal: non-users mistakenly believe they are incapable of using Bitcoin, users are not well-versed in how the protocol functions, they have misconceptions about the privacy of transactions, and that Bitcoin satisfies properties of ideal payment systems as defined by our participants. Our results illustrate Bitcoin's tradeoffs, its uses, and barriers to entry.

Original languageEnglish (US)
Title of host publicationCHI 2016 - Proceedings, 34th Annual CHI Conference on Human Factors in Computing Systems
PublisherAssociation for Computing Machinery
Pages1656-1668
Number of pages13
ISBN (Electronic)9781450333627
DOIs
StatePublished - May 7 2016
Event34th Annual Conference on Human Factors in Computing Systems, CHI 2016 - San Jose, United States
Duration: May 7 2016May 12 2016

Publication series

NameConference on Human Factors in Computing Systems - Proceedings

Other

Other34th Annual Conference on Human Factors in Computing Systems, CHI 2016
Country/TerritoryUnited States
CitySan Jose
Period5/7/165/12/16

All Science Journal Classification (ASJC) codes

  • Software
  • Human-Computer Interaction
  • Computer Graphics and Computer-Aided Design

Keywords

  • Bitcoin
  • Crypto-currency
  • Digital currency
  • Interview study

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