These price spikes fed their hunger for "quick riches" ..which is very common in a social media environment, where they see average people making millions from social media hype. (Example : Mr Beast)
- Digital riches! 
Topic: A majority of Gen Z investors think crypto will make them millionaires - page 2. (Read 405 times)
December 09, 2021, 01:02:38 PM
I think it has more to do with the timing of the introduction of Crypto currencies in a period of their live where they are still young and inquisitive and still exploring high risk investment options. They were at just the correct age to experience the 2017 price Spike and all the subsequent price spikes after that.
These price spikes fed their hunger for "quick riches" ..which is very common in a social media environment, where they see average people making millions from social media hype. (Example : Mr Beast) - Digital riches!
These price spikes fed their hunger for "quick riches" ..which is very common in a social media environment, where they see average people making millions from social media hype. (Example : Mr Beast)
- Digital riches! 
December 09, 2021, 12:54:58 PM
Can we think that the growth of crypto is more due to people's desire to get rich quick through investment than the innovation that comes with it?
I don't blame people whose main goal is to generate high ROI when involved in the crypto space especially on investments. But when people's interest in crypto is only to make big profits then its adoption as a legitimate currency will be increasingly ignored by it. In the survey above, I think the main media that becomes the research variable is crypto (altcoin investment) not bitcoin. If this is also the case with bitcoin, then I think its adoption will be slower in the future as most people just use bitcoin as a popular medium to generate profits as opposed to currency or means of payment.
I don't blame people whose main goal is to generate high ROI when involved in the crypto space especially on investments. But when people's interest in crypto is only to make big profits then its adoption as a legitimate currency will be increasingly ignored by it. In the survey above, I think the main media that becomes the research variable is crypto (altcoin investment) not bitcoin. If this is also the case with bitcoin, then I think its adoption will be slower in the future as most people just use bitcoin as a popular medium to generate profits as opposed to currency or means of payment.
December 09, 2021, 12:15:16 PM
I mean, are they wrong? Considering how the previous generations ended up saving their money and buying boring stuff and still ended up being millionaires, I am guessing that the current generation found theirs and will get it. What you gotta realize is that all of that money has to go somewhere, people who are 70+ years old right now will not end up living forever, they are going to pass away in 3-5-10-20 or whatever years, which will go towards next generation and that will go to next and next and that is how the system works.
Yeah, it worked perfectly in Venezuela, where are all those riches from the 80s now?
And it's not just in those extreme cases, look in Europe, the number of homeowners has dropped here in the last decade from 71% to 65%, so this continuous inheritance thingy is not really transmitting all the value, just how if your grandfather has a car it doesn't mean you're going to have one guaranteed.
Besides, as Lucius mentioned, if all of generation z will become millionaires by putting 10$ in a token and watching the screen all day, be prepared to pay a billion to the guy who will bring you pizza when it's raining outside
Yeah, When the gen Z will be the next future leader of our country and the old generation has been replaced by them, the development of Bitcoin and others crypto will be guarantee because the majority think this is the answer for them to be richer than before.
When the development of Bitcoin will be driven by profit alone this is the moment it will fail.
Look through Satoshi's posts and find whee he mentioned rich, profit, and price, you might be disappointed.
December 09, 2021, 11:24:12 AM
i think, the other generation will think about this one because they know what cypto is earlier (maybe), but also have bigger range than younger.
we know if you need the process to get something, and it cant give you in one night, they need many time to grow, but i know if in this crypto world, people play their luck and it can happen in a day.
as a member, we must take a positive observation and good act in every move to widen the gap between failure.
we know if you need the process to get something, and it cant give you in one night, they need many time to grow, but i know if in this crypto world, people play their luck and it can happen in a day.
as a member, we must take a positive observation and good act in every move to widen the gap between failure.
December 09, 2021, 11:07:56 AM
I belong to this generation and I can say that this survey is quite accurate. I have met bitcoin way back 2014 yet I doubt in investing to it. And sadly, got my regrets during the rally last year. After that I focused in finding the next moonshot coins by reading here in the forum. I somehow agree that I really think that crypto could make my financial status move upwards. I saw how a 10K$ could make billions with memecoins and its quite tempting.
December 09, 2021, 10:55:39 AM
I mean, are they wrong? Considering how the previous generations ended up saving their money and buying boring stuff and still ended up being millionaires, I am guessing that the current generation found theirs and will get it. What you gotta realize is that all of that money has to go somewhere, people who are 70+ years old right now will not end up living forever, they are going to pass away in 3-5-10-20 or whatever years, which will go towards next generation and that will go to next and next and that is how the system works.
Yeah, When the gen Z will be the next future leader of our country and the old generation has been replaced by them, the development of Bitcoin and others crypto will be guarantee because the majority think this is the answer for them to be richer than before. So, anything which is disturb them, they dont care and go forward.
December 09, 2021, 10:30:15 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.
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.
Whatever you said about utility of crypto is very true and I am also in habit to go in deep details of crypto project before I jump into it and this is professional way to invest your hard earned money but new entreats in crypto don't want to go in all these theoretical explanations. They simply want to get quick rich with less effort and their perception is somehow right as we have witnessed crypto changed fortune of many people in family and friends circle but I think it only happens with early birds in any new Technology.
December 09, 2021, 09:53:35 AM
I mean, are they wrong? Considering how the previous generations ended up saving their money and buying boring stuff and still ended up being millionaires, I am guessing that the current generation found theirs and will get it. What you gotta realize is that all of that money has to go somewhere, people who are 70+ years old right now will not end up living forever, they are going to pass away in 3-5-10-20 or whatever years, which will go towards next generation and that will go to next and next and that is how the system works.
We are all going to be as rich as the previous generations when all of that is left to us. God forbids and gives them all the years there is, but humans are not immortal and money is inherited. Ruthless as it may sound, if old people are millionaires, then younger ones will eventually be millionaires one day as well. This could be from anything, and fi Gen Z picked crypto for their investment then so be it.
We are all going to be as rich as the previous generations when all of that is left to us. God forbids and gives them all the years there is, but humans are not immortal and money is inherited. Ruthless as it may sound, if old people are millionaires, then younger ones will eventually be millionaires one day as well. This could be from anything, and fi Gen Z picked crypto for their investment then so be it.
December 09, 2021, 06:15:00 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.
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.
December 09, 2021, 05:56:45 AM
I'm amazed by the fact they don't understand that they will not become millionaires unless someone who HAS millions will help the market grow to the level they need for them to get rich.
If a bunch of kids with 10$ in their pocket will be the only investors that will be the price of Bitcoin also, you need money, serious money for the price to move, for god's sake we need $50 million a day just for the newly minted coins, without serious backers, there is no way somebody who invests 100$ will ever manage to get even $1000.
So unfortunately for the daydreaming generation Z, they will need a lot of poeple from generation A to get their dreams even 1% close to fulfillment.
If a bunch of kids with 10$ in their pocket will be the only investors that will be the price of Bitcoin also, you need money, serious money for the price to move, for god's sake we need $50 million a day just for the newly minted coins, without serious backers, there is no way somebody who invests 100$ will ever manage to get even $1000.
So unfortunately for the daydreaming generation Z, they will need a lot of poeple from generation A to get their dreams even 1% close to fulfillment.
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.
December 09, 2021, 05:12:41 AM
or, what is even worse, everyone will be a millionaire and the the world will go into an hyperinflation until everyone is again... poor.
You see, in Spanish, Million is similar to "millon" and means the same, however "aire" means air. So, Millionaire would be a million ... airs.
Lol that is not going to happen that everyone becomes rich or everyone becomes poor
There must be the rich and the poor and that depends on destiny and the plan or road an individual follow.
In the bible story, there are rich and the poor and that is why it made reference to the rich man and Lazarus who was seen as the less privileged. Abraham too was regarded as a very rich man. So in today's world, our attitude towards our investment and idea is key because in few years time, the whole prices of coins won't stay on same level. Investing wisely is important .
December 08, 2021, 05:08:55 PM
my take is that many "investors" are not investors, but people who are placing a bet on crypto. Yes, it can be bitcoin or any other, including those that have a zero percent probability of success. If everyone thinks they will become millionaires then most are wrong or, what is even worse, everyone will be a millionaire and the the world will go into an hyperinflation until everyone is again... poor.
You see, in Spanish, Million is similar to "millon" and means the same, however "aire" means air. So, Millionaire would be a million ... airs.
You see, in Spanish, Million is similar to "millon" and means the same, however "aire" means air. So, Millionaire would be a million ... airs.
December 08, 2021, 03:20:06 PM
Now here's the thing about those Gen Zs thinking they can become millionaires by dabbling in crypto: Some of them really are getting extremely wealthy by taking those risks the article talked about and investing in not only dogecoin but all sorts of altcoins and experimenting with oddball stuff like NFTs and such. So it's not as if they're out of their minds by believing in crypto as a cure for their financial woes, because when doge hit its ATH you know a bunch of people had to have just gotten rich.
One thing I'm hoping for is that when the Gen Zs grow up and become our future politicians, they retain their fondness for cryptocurrency and don't try to regulate it to death (if that hasn't happened by the time the new generation gets elected to positions of power). I also think it's a great thing that youngsters have such a positive view about crypto. I don't understand that whole "pro-government" stance that I quoted above (if it's true), because part of the reason bitcoin is so valuable is because of all the damage governments have done to fiat currency and the world economy in general.
You touch a point that I have always considered to be key, the previous generations like Peter Schiff do not or can not understand bitcoin, they see it with suspicious eyes as it is a threat to what they know, and we know that one of the basic reactions to something you do not know is to fear it and as such to try to destroy it, but new generations would have grown in a world in which bitcoin always existed and they will just see it as a natural part of their lives, so we need a generational change to see the adoption of bitcoin that we want, this means this is a process that will take decades, and while this will be disappointing to some, to me it means that bitcoin being recognized and adopted all over the world is inevitable. One thing I'm hoping for is that when the Gen Zs grow up and become our future politicians, they retain their fondness for cryptocurrency and don't try to regulate it to death (if that hasn't happened by the time the new generation gets elected to positions of power). I also think it's a great thing that youngsters have such a positive view about crypto. I don't understand that whole "pro-government" stance that I quoted above (if it's true), because part of the reason bitcoin is so valuable is because of all the damage governments have done to fiat currency and the world economy in general.
December 08, 2021, 02:43:44 PM
For generation Z, it is only the internet space that makes them so active and loves the source of finance they generate. Compared to those of us who have reached the final stage of the Millennial generation due to age. However, we are still aggressive in terms of the investment world. sometimes Gen Z is still filled with a lot of innate things. Get carried away by the trade atmosphere and also difficult to control. it is undeniable who else if not them will continue the glittering world of investment, especially in crypto investment. Making money from the way how they react to investment, of course the most important guideline is not to let them be easily controlled by the government. I prefer to call them Post Millennials.
December 08, 2021, 02:09:56 PM
Not exactly crypto investments perse I would say but there are many other things that might work for the GenZ since we have a lot of NFT hyper and also at the same time with the new rules the gas fee might be paid by the buyer instead of the producer. So I do think we might have small side investments that are dependent on crypto as well.
Becoming a millionaire is not something that might work but there are things like investing and learning a bit about the decentralized businesses which might make them financially more stable and independent for the time being. Also at the same time it could help them earn a bit as a side income. They just need to be properly monitored and educated about the cryptocurrencies.
Becoming a millionaire is not something that might work but there are things like investing and learning a bit about the decentralized businesses which might make them financially more stable and independent for the time being. Also at the same time it could help them earn a bit as a side income. They just need to be properly monitored and educated about the cryptocurrencies.
December 08, 2021, 12:53:11 PM
Goodluck for their beliefs about becoming a millionaire by entering the crypto market.
Investing into different kinds of platform or even business has a very similar situation in terms of financial status of the people who have been involved into one of these investments. There are those who become rich, crazy crazy rich, and those who became poor and bankrupt, and those who gained nothing and give up.
Well, it's not really bad If these GenZ people are so optimistic about crypto, it's just that these beliefs might turn into frustration and disappointment.
Investing into different kinds of platform or even business has a very similar situation in terms of financial status of the people who have been involved into one of these investments. There are those who become rich, crazy crazy rich, and those who became poor and bankrupt, and those who gained nothing and give up.
Well, it's not really bad If these GenZ people are so optimistic about crypto, it's just that these beliefs might turn into frustration and disappointment.
December 08, 2021, 12:16:35 PM
It isn't that odd imo. A lot of people that showcase their crypto wealth are often assumed to have had an automatic path where they just entered crypto and got rich instantly. Even I would assume as such if I was ignorant since all a person would be seeing is people being successful, and not the other way around. Honestly just seeing how Bitcoin's growth went from its decade experience, any ignorant person would instantly assume that either Bitcoin is a scam, or that anyone who does crypto is an extremely rich person.
December 08, 2021, 12:15:06 PM
And what's up with that second statement about diversity? It's really got nothing to do with the poll, and the injection of identity politics into a financial article really, really seems icky to me. Is there nothing in the media nowadays that isn't laced with this crap?
Business insider has gone downhill for a while and now they are digging at the bottom of the valley with this crap when the most popular articles are about Trump even right now....half of their articles about race and sexual orientation, businesses it's just in the name.
I would rather look at the fact that these young people, no matter what letter they are marked, live in a large percentage in a world of illusions where they can solve all their problems just by looking at small and large screens showing various charts and figures that will turn them into millionaires.
I'm amazed by the fact they don't understand that they will not become millionaires unless someone who HAS millions will help the market grow to the level they need for them to get rich.
If a bunch of kids with 10$ in their pocket will be the only investors that will be the price of Bitcoin also, you need money, serious money for the price to move, for god's sake we need $50 million a day just for the newly minted coins, without serious backers, there is no way somebody who invests 100$ will ever manage to get even $1000.
So unfortunately for the daydreaming generation Z, they will need a lot of poeple from generation A to get their dreams even 1% close to fulfillment.
December 08, 2021, 11:58:23 AM
An average holder of Bitcoin and other Altcoins worth $1k should be in a millionaire expecially my local currency that has devalue over time.
That survey shows nothing but truth because that's exactly what it has done for many over years particularly the holders and also shitcoins buyers.
They can all attest to this that crypto is the best hedge against inflation and very great alternative than giving your money to banks that may stop you from withdrawals when you needed your money without profit.
Infact, I think why we have fear of missing out that always led to pump of projects, everyone want to cash out in millions.
That survey shows nothing but truth because that's exactly what it has done for many over years particularly the holders and also shitcoins buyers.
They can all attest to this that crypto is the best hedge against inflation and very great alternative than giving your money to banks that may stop you from withdrawals when you needed your money without profit.Infact, I think why we have fear of missing out that always led to pump of projects, everyone want to cash out in millions.
December 08, 2021, 11:32:26 AM
I will not go into the methodology of survey and the eternal assumption that the whole crypto world revolves around what someone or something will do in the US. I would rather look at the fact that these young people, no matter what letter they are marked, live in a large percentage in a world of illusions where they can solve all their problems just by looking at small and large screens showing various charts and figures that will turn them into millionaires.
If the majority of Generation Z in the world chose that path, then who would do the usual jobs - produce food, take care of water supply, waste collection, work in shopping malls? Maybe all these jobs will be done by some robots that haven't been invented yet, or all of them, when they get rich, will buy a one-way ticket to Mars with EMeXpress
If the majority of Generation Z in the world chose that path, then who would do the usual jobs - produce food, take care of water supply, waste collection, work in shopping malls? Maybe all these jobs will be done by some robots that haven't been invented yet, or all of them, when they get rich, will buy a one-way ticket to Mars with EMeXpress
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