A majority of Gen Z investors think crypto will make them millionaires

Silberman

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Quote from: magneto on December 09, 2021, 05:15:00 AM

This is precisely what is dangerous about the current bull run.

These people are entirely missing the point of crypto.

Crypto isn't a tool to make you rich or anything like that, but rather a store of value and a hedge against the fiat economy. It's not a sexy get rich quick tool no matter how many people seem to love that idea.

Unfortunately this is nothing new at all and it is quite common, once a market grows for long enough then the average person sees the profits the early adopters got and they want the same for themselves, not understanding that those days are over and that now the days of slow but steady profits are coming, but since this is not what they want then they will take huge risks to try to get those same results, and we know that most of the time this will mean investing in shady projects which will lead them to achieve the opposite results they were looking for.

qwertyup23

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Quote from: ultrloa on December 08, 2021, 05:52:45 AM

Don't be surprise if this is what new generation thin about it since this is what information feed them by some social media influencer and little part is the hype brought by the mainstream media especially when there's a bull market run happening. That's why we also see that many new got scam since they think about that the platform they invest their money can give them huge wealth or can make it as passive income generator.

Over the past years, new investment methods have been introduced into the world with people exploring different ideas and ways to earn money. After the rise of cryptocurrencies, mine coins have started to rise resulting into a 'pay-2-play' system (e.g. Axie Infinity) where people invest before they could earn money.

It is but obvious that people under the generation Z are exposed to the innovative ways of earning investments in this day and age. Who knows that maybe in the next 5-10 years from now, another innovative method would be introduced that is also highly effective in rendering millions in profit depending on their investments.

The point is, crypto was introduced in the height of the internet where people are slowly exposed to its long-term effects.

AmoreJaz

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Quote from: pinggoki on December 11, 2021, 01:15:42 PM

It's because of all these crypto influencers that flex and flaunt their cash, their trades and brag about how they wake up at 5 am is causing all of this false belief that cryptocurrencies are a gateway to making lots of money in a short time, these egomaniac people impose a belief that everyone can be a millionaire and that cryptocurrency will change their life but we all know better than that and we know that it's not the case. There's no cure or solution to this problem, the people who believe these narcissists have to experience a big L and hopefully have some reflection and self discovery will spark among them that will make them think that what is effective for others might not be for me.

they will learn their lessons fast once they got in in the market. with those high hopes, it will be replaced by disappointment if they don't know what they are doing. they can easily lose money in this market if they don't even have the slightest idea when they start trading their money.
this is why they need to be cautious with misleading endorsements esp those projects that are promising too-good-to-be-true ROIs, because more than likely that is a trap. in time, they will get what is it to be here in crypto market. there's more than meets the eyes so to speak.

pinggoki

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It's because of all these crypto influencers that flex and flaunt their cash, their trades and brag about how they wake up at 5 am is causing all of this false belief that cryptocurrencies are a gateway to making lots of money in a short time, these egomaniac people impose a belief that everyone can be a millionaire and that cryptocurrency will change their life but we all know better than that and we know that it's not the case. There's no cure or solution to this problem, the people who believe these narcissists have to experience a big L and hopefully have some reflection and self discovery will spark among them that will make them think that what is effective for others might not be for me.

Sayeds56

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Quote from: Gorosden on December 09, 2021, 12:36:59 PM

Honestly this topic is on point, I was brainwashed with changing my life in one swing shot at crypto this year and I was sitting on huge gains but the idea of making it big seized me down thinking I deserved more and I watched the good money slowly faded away, I invested 2000$ and made 22,000$ and still failed to take profits, now the profits are gone I ended selling at 4000$ when I can't stand it anymore

True. Profit is what you convert it into stable coins and get it transferred to your Bank account. The crypto market is extremely volatile and Profit come quickly and disappear even faster than they come. Crypto space is a wonderful world where you witness surprise every day. This is also true that crypto has changed fortune of early birds but new entrants in crypto need to be very informative and technically skilled to make profit.

amishmanish

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As per the definition (1997-2012), the oldest among them are only 24 while the youngest are just 9 years old. So lets talk about the group that has ACTUALLY started to care about money, Say 16 to 24. Take away the TikTokers and the influencers coz they belong to the group of people that are present in every generation, the kind that love to get rich by cashing in on the naivete of others.

That leaves a bunch of confused teenagers and young adults who have only just started earning and saving money. A lot of these people are actively developing on crypto but most of them are being guided by people with much more experience than them. Most of that money is also being made by the far more experienced traders and VCs playing the mind-games with them that lead to pumps.

As far as i can tell, the Gen Z is just liquidity.

Also, did someone tell them that their millions don't really count till they are either in BTC or they have them in the bank (after paying taxes if they don't want to get caught whenever the "Empire Strikes back").

dezoel

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Yes a lot of people have that belief, but it’s not an easy thing for you to achieve these days. But anyways it can be achieved. It’s all about having patience for a long time, because it is not something that is going to happen in just a short time. If you invest in cryptocurrency now you will have to be patient for some time before it can work out; that is if you have plans to be just an investor. The market doesn’t go up all the time, it can go up and as well decrease at times.

So if you invest, you will have to be patient and hold it for a long term, because that’s when you will stand a better chance at making money through cryptocurrency. Another thing is that you will have to invest a reasonable amount that you know would be worth a lot when it increases. Because if you invest just a little amount of money, then it’s not going to be worth that much. It’s all about how much you’re able to invest.

sana54210

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Quote from: Mauser on December 10, 2021, 07:35:57 AM

Very nice to see that generation Z believes so strong in crypto currencies. Being optimistic about the future of Bitcoins is good. I am sure we will see a rising number of crypto millionaires in the near future. But we should also be realistic with our expectations because just buying a few crypto coins is not going to make them millionaires. Sure there are some who invest heavily and will make it, this of course also requires luck. How could a large part of a generation become millionaires, this would only happen if the purchasing power of the money drops rapidly. To become very rich it requires sellers on the other side to actually sell their goods for it. This requires a large number of merchants with the will and means to buy all those cryptos.

That is all they have known, that's the difference. Oldest is estimated to be 22-24, there are some discussion about what is the exact date it should start but all in all they do not remember the time we had no crypto at all, even the oldest Gen Z doesn't remember it clearly, I mean they were under 10 years old and how much a kid would know about finances when they are under 10?

So, it is hopeful for the future, anyone who grows up with bitcoin will love bitcoin and that is a great thing, I am hoping that we would be doing a lot better in the future, the more they grow the more they will earn and the more they earn the more they will invest and they will clearly pick bitcoin and other cryptos more than their elders did. This is the future for us.

Fortify

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Quote from: Hydrogen on December 07, 2021, 05:49:52 PM

Quote

It sometimes seems crypto is minting new millionaires by the day, particularly those with the stomach to dabble in the risky world of altcoins. The most famous of these — like doge and shiba inu — have produced some eye-watering returns in 2021.

It's no surprise then that investors are flocking to the space with dreams of quick riches, and Gen Z investors, in particular, think crypto will make them millionaires, a recent study by research and data analytics firm Engine Insights showed.

Nearly two-thirds — 59% — of Gen Z respondents to the survey believe they could become wealthy by investing in cryptocurrencies.

"This generation has a greater acceptance and comfort with all things digital, so not surprising that would be more comfortable with crypto," Kathy Sheehan, SVP at Cassandra, a division of Engine, told Insider. "This generation has a lot of concerns about debt and finances."

A confluence of factors, from the rising costs of real estate to college education could be to blame, Sheehan told Insider. Inflation reaching 30-year highs has only reinforced the appeal of crypto as the weakening of fiat money dominates headlines.

"They feel that everything financial is harder for them than it was for previous generations," Sheehan said. "Couple that attitude with more of an appetite for risk, it is not surprising that they are hoping for a quick fix or return."

Bolded and highlighted some of the most relevant parts.

The question is often asked: has bitcoin achieved mass adoption. Numerous statistics and numbers have been cited over the years, in an effort to claim bitcoin and cryptocurrencies have made it big.

Our latest offering here claims 57% of generation Z believe crypto is a good method of building wealth, with that segment of the population numbering around 72 million in the USA, roughly 22% of the total US population.

What's interesting about generation Z is the right wing claims they are the most conservative generation in many years, while others claim they are the most progressive and left wing generation. There is some dispute as to exactly what generation Z think and believe, which will undoubtedly be resolved eventually.

That said its always great to see people acknowledging the positive role cryptocurrencies can play in society.

Everyone wants to become rich while putting in a minimal amount of effort, but for 99.99% of people who become rich it is a long and slow road to success rather than waking up one day having bought a cryptocurrency at 0.00001 and having it run up to 0.01 to multiply your money by hundreds of percentage. Even then, people often don't realize that you need lots of money to make money and it can involve huge risk which people are generally very bad at calculating. I'd much rather keep putting money into an investment earning 10% per year consistently, than putting money into an investment which could double but is highly likely to collapse to a fraction of the original investment. Younger generations do have an advantage of time however, which allows them to take more risk and learn from previous mistakes over time.

so98nn

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So isnt that is good news for the crypto currency world? I mean if so called Gen Z is all into bitcoin and altcoin then they would be looking after that stream itself. I mean some of them would start right off with their education as blockchain developer and some might be starting to invest their first instance from their teenage itself. This will actually drive the crypto space to whole new era. If these kids gonna be the next pro-government then hell ya, no more crypto bans, no more fuss about whether crypto is gonna be their or not!

Moreover, these Z's are already facing the issues as we speak by looking at different problems around us. The crypto is heck in bad condition right now and I gotta say they will be the once who will recover it with whole new ideas.

abhiseshakana

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Quote from: Mauser on December 10, 2021, 07:35:57 AM

Very nice to see that generation Z believes so strong in crypto currencies. Being optimistic about the future of Bitcoins is good. I am sure we will see a rising number of crypto millionaires in the near future. But we should also be realistic with our expectations because just buying a few crypto coins is not going to make them millionaires. Sure there are some who invest heavily and will make it, this of course also requires luck. How could a large part of a generation become millionaires, this would only happen if the purchasing power of the money drops rapidly. To become very rich it requires sellers on the other side to actually sell their goods for it. This requires a large number of merchants with the will and means to buy all those cryptos.

The new world order is the digital world, digital economy, digital payment, digital living. We also all know that the millennial generation Z and the generations below are digitally connected generations, or can be called gen C. But their optimism is not only in crypto but more on investing in something digital. They automatically think the digital thing is fast, sped up, which means an income explosion for them. Investments in shares of financial sector companies and mutual funds are still a favorite investment for millennials.

Mauser

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Very nice to see that generation Z believes so strong in crypto currencies. Being optimistic about the future of Bitcoins is good. I am sure we will see a rising number of crypto millionaires in the near future. But we should also be realistic with our expectations because just buying a few crypto coins is not going to make them millionaires. Sure there are some who invest heavily and will make it, this of course also requires luck. How could a large part of a generation become millionaires, this would only happen if the purchasing power of the money drops rapidly. To become very rich it requires sellers on the other side to actually sell their goods for it. This requires a large number of merchants with the will and means to buy all those cryptos.

Lucius

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Quote from: RealMalatesta on December 09, 2021, 04:40:12 PM

Plus, they are capable of building their own tokens as well, they are hyped about it and that means we are talking about making some profit by selling their own tokens or NFT's these days. It is totally possible, not all of them have 10 bucks.

But is it justified and moral to create some tokens and sell them with false promises like people do today? There is no doubt that some will get rich on it, but for one man to get rich, a lot of people have to invest in his project, and if 90% of such projects end in failure do those who create them are actually just ordinary scammers and nothing more?

I want to say that cryptocurrencies have become a means to some kind of success overnight, but that in all this there are simply too many scams, false promises and big misconceptions that will end up doing more harm than good.

im posible

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They can be very optimistic because they are still young and have not collided with the various realities around them. Compared to previous generations, Gen Z is the generation that has the most potential for the development of blockchain and cryptocurrency technology because they were born with various technological facilities that have developed rapidly. It's just a matter of how Gen Z manages these potentials to succeed in the cryptocurrency world.

V-t.Ester

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Children from Generation Z are completely different. They are confident that the entire world owes them. So when they say that investing crypto can make from them millionaires, they have a great believe in this. In general they are right. It’s so easy to become rich with crypto if only to know what to invest and when. But on practice it’s completely different especially if to have no knowledge’s and skills in trading and only 100 $ start-up capital.

carlfebz2

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Quote from: Zanab247 on December 09, 2021, 01:11:58 PM

Crypto investment is different from fiat business which you cannot predict and start seeing the results coming instantly. Crypto investment has rules and regulations that guide the community which you must have to obey before you can achieve something from your investment. For you to become a millionaires in crypto investment you must have all the experience how to use long term and short term investment to make a huge amount of money.
If you are used to crypto trading in the community you will know that, it take a long process for anyone to become the richest man in the country with crypto investment. Crypto can help you to improve your capital and boost your knowledge which will enable you to understand crypto investment very well in the community.

Sooner or later they would realized off things when reality do slaps them into their faces and this isnt something a magical investment where it could
make you rich overnight which is the most common perception of new people whenever they do step their foot into a new thing or market.

They dont even know on how this market works at first but if they will experience it on their own then this is where insights and beliefs do change up.

This isnt how simply as it looks and you would need to be smart and be wise.

RealMalatesta

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Quote from: Lucius on December 09, 2021, 04:56:45 AM

Just a few success stories are enough to convince them otherwise, because it is not only about someone investing $10 or $100 in some altcoin that will then experience a real boom in the next few years, but these people are encouraged to be enterprising and create some cryptocurrency which they will then try to sell to others as the next big thing. Judging by the number of cryptos that, according to CMC, have exceeded 15 000 at the moment, I believe that many of them are going in that direction.

Money drives the world, the crypto market is no exception, and the sooner they realize it, the better for them - otherwise, there will be many who will be left with empty pockets and with great disappointment.

Gen Z is called to people who were born a bit before 2000 and a bit after 2010, thats the age we are going to have voters, probably already did in most nations many times already. Which means that we are talking about old enough people to who either go to college or even maybe early in their first job. Mark Zuckberger started facebook when he was just 18-19 or something like that right? Maybe not every GEN Z will become a millionaire thanks to bitcoin, but it is surely possible for some of them to do that.

Imagine a few rich parents giving some money to their kids, they are capable of investing that into crypto, do that in 2019 and do it until 2022 and we are talking about so many chances to become millionaires from just a few thousand dollars. Plus, they are capable of building their own tokens as well, they are hyped about it and that means we are talking about making some profit by selling their own tokens or NFT's these days. It is totally possible, not all of them have 10 bucks.

Zanab247

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Crypto investment is different from fiat business which you cannot predict and start seeing the results coming instantly. Crypto investment has rules and regulations that guide the community which you must have to obey before you can achieve something from your investment. For you to become a millionaires in crypto investment you must have all the experience how to use long term and short term investment to make a huge amount of money.
If you are used to crypto trading in the community you will know that, it take a long process for anyone to become the richest man in the country with crypto investment. Crypto can help you to improve your capital and boost your knowledge which will enable you to understand crypto investment very well in the community.

Gorosden

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Honestly this topic is on point, I was brainwashed with changing my life in one swing shot at crypto this year and I was sitting on huge gains but the idea of making it big seized me down thinking I deserved more and I watched the good money slowly faded away, I invested 2000$ and made 22,000$ and still failed to take profits, now the profits are gone I ended selling at 4000$ when I can't stand it anymore

ivankoh

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Bitcoin has the ability to make participants rich -> high rate. But I don't think it's easy for all crypto space. It is not necessary to define them as Z investors, they have the right to create hope with bitcoin and crypto but it is more abused with time. Respecting them is much better than the old Warren Buffett way. It's the old-fashioned investors who create the evils that bitcoin faces against the ever-present money-printers. Lol

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