Topic: Crypto & Older Generation (Read 406 times)
Older people are usually comfortable with their lives, don't want or have run out of energy to start new things, especially baby boomers who want to upgrade their knowledge, the majority, not all. they are busy with old ways such as retirement savings, property and land investment. and maybe they think that's more than enough. Apart from that, they play shares, but many people still underestimate them. Yes, it's okay, let them be like that, our generation is different from theirs, as long as they are happy, that's fine. by the way I am one of them lol
We have often seen youngsters are more open towards crypto and adapting it wherein the older generation like the ones who are in their 40s and above are reluctant towards crypto and often term it as bubble or scam though they know that it's not a scam. Is it out of jealousy that they couldn't onboard into crypto at the right time hence bad mouthing it or else just that they are not ready to accept something knew as kids are becoming millionaire with crypto which was never case with any other asset hence this looks too good to be true for them.
It is difficult to convince the older generation about cryptocurrencies because they have no knowledge or experience with cryptocurrencies. For example let's say your parents are 50 years old and if you ask them for money to invest in bitcoin they won't want to give because they think bitcoin or crypto is a scam. They then tell you to invest in gold or land i.e. real assets instead of investing in Bitcoin because they are used to that. If they knew about bitcoin they would talk about investing in bitcoin.Here may be the difference between our new generation and the old generation.Sure, it makes sense to me actually. We are talking a generation which grew up in a context or an era when most of assets were physical or had a very stable market value, with little fluctuation of price in the short term, people of that generation is pretty much used to appreciate those assets they can touch and see with their very own eyes. I do not blame them though, when we talk about money or storing wealth, being able to see and touch what you are buying is reassuring.
When one tries to explain the concept of cryptocurrency or Bitcoin to them, they first thing they ask is about the backing of the value of Bitcoin, and since they are told there is no backing and the price is volatile, they call it a a scam. As simple as that.
Ironically, to that generation does not matter much the decentralized technology which is behind Bitcoin, to them Tether makes more sense because there is some assets backing it.
Fortunately for the cryptocurrency ecosystem, this new generation and the young people have been able to appreciate the advantages of Bitcoin and alternative currencies.
We have often seen youngsters are more open towards crypto and adapting it wherein the older generation like the ones who are in their 40s and above are reluctant towards crypto and often term it as bubble or scam though they know that it's not a scam. Is it out of jealousy that they couldn't onboard into crypto at the right time hence bad mouthing it or else just that they are not ready to accept something knew as kids are becoming millionaire with crypto which was never case with any other asset hence this looks too good to be true for them.
It is difficult to convince the older generation about cryptocurrencies because they have no knowledge or experience with cryptocurrencies. For example let's say your parents are 50 years old and if you ask them for money to invest in bitcoin they won't want to give because they think bitcoin or crypto is a scam. They then tell you to invest in gold or land i.e. real assets instead of investing in Bitcoin because they are used to that. If they knew about bitcoin they would talk about investing in bitcoin.Here may be the difference between our new generation and the old generation. 
I may be one of the many older generations who enjoy change, I am never closed to change, I am waiting for that change, the proof is that I joined here with young people. Crypto is magical, defying all forms of traditional finance that have been held by the old generation. Even though my portfolio in crypto is not more than 15% of my assets, I enjoy the learning process in crypto, even though there is still a lot that I don't know, but I will learn it.
That's okay if your crypto assets are just around 15% for someone who's on that generation, it's already a lot considering that most of you are conservative and needs to be sure with where you're investing. There is actually only one problem with the older generation, they always underestimate the generation below them. Yes but how else....
Well, we know it right. Whenever that we've got some information or learnings that we share to the older generation, they always underestimate us as if they're always better than us. But many of them are open to new learnings and not that far, I am also gonna be part of the same generation and will be open to the new generation and changes too.
I came to discovered that this new generation adopt crypto fast than the old generation because, the old people still believe in the mentality that is not easy for a young man or woman to get rich the way the youths in the countries are getting richer through the help of decentralized currency.
But the old generation prefer the new generation lifestyle and the way they are living their life not to depend on their parents at the age of 18 or 20 compare old generation when at age 25 or 30 youths were still living with their parents because there was nothing like opportunity we are experiencing today in the Bitcointalk.org.
But the old generation prefer the new generation lifestyle and the way they are living their life not to depend on their parents at the age of 18 or 20 compare old generation when at age 25 or 30 youths were still living with their parents because there was nothing like opportunity we are experiencing today in the Bitcointalk.org.
Quite right, I have observed the same as older generation are unable to digest the fact that people can get rich quickly though it requires efforts and sometimes luck when it comes to crypto. I think they need to adapt with the current trend and should be more supportive towards crypto and I know about the generation gap and the difference in mindset but still no one is gaining by not adapting to current technology. Sometimes I feel it's the jealousy which takes over but every generation had their own goodness as we are earning quick now but we are eating chemicals as all our food contains chemicals wherein the older generations had pure food. People need to accept the reality because I have had difficult time explaining crypto to older generation as they just plainly call it scam or bubble which didn't burst for over a decade.
I came to discovered that this new generation adopt crypto fast than the old generation because, the old people still believe in the mentality that is not easy for a young man or woman to get rich the way the youths in the countries are getting richer through the help of decentralized currency.
But the old generation prefer the new generation lifestyle and the way they are living their life not to depend on their parents at the age of 18 or 20 compare old generation when at age 25 or 30 youths were still living with their parents because there was nothing like opportunity we are experiencing today in the Bitcointalk.org.
But the old generation prefer the new generation lifestyle and the way they are living their life not to depend on their parents at the age of 18 or 20 compare old generation when at age 25 or 30 youths were still living with their parents because there was nothing like opportunity we are experiencing today in the Bitcointalk.org.
I may be one of the many older generations who enjoy change, I am never closed to change, I am waiting for that change, the proof is that I joined here with young people. Crypto is magical, defying all forms of traditional finance that have been held by the old generation. Even though my portfolio in crypto is not more than 15% of my assets, I enjoy the learning process in crypto, even though there is still a lot that I don't know, but I will learn it. There is actually only one problem with the older generation, they always underestimate the generation below them. Yes but how else....
It's not a thing of surprised that most of the older generation still find it difficult to accept cryptocurrency, and what I really think here is that they have gotten so used to the traditional way of life, by having a whole lot of money saved up and still be earning from their pensions, so telling them now go venture in technology now is like stress to them, and most of the terrible news they have heard about cryptocurrency made it as the perfect excuse for them not to want to have anything to do with it.
So it will only take an ambitious man that is part of the older generation, that will not want to find an excuse, because he only sees opportunities in it.
So it will only take an ambitious man that is part of the older generation, that will not want to find an excuse, because he only sees opportunities in it.
I understand and can relate with what you’re saying, and I the cause of this is because the older people who are aged up to 40Y.O do not have the bubbling mind that younger people have. Some of them do not even care about technology and just want a means to communicate to their loved ones and family. So, it’s not unusual that it isn’t in their interest. For us that have been able to adapt, we will pass it into the younger ones that are coming.
We have often seen youngsters are more open towards crypto and adapting it wherein the older generation like the ones who are in their 40s and above are reluctant towards crypto and often term it as bubble or scam though they know that it's not a scam. Is it out of jealousy that they couldn't onboard into crypto at the right time hence bad mouthing it or else just that they are not ready to accept something knew as kids are becoming millionaire with crypto which was never case with any other asset hence this looks too good to be true for them.
Note: I am not saying everyone above 40 years are reluctant but it's just my experience and it might be related to certain geographical location or certain set of people. I am not generalizing it but share my experience.
My view at 40s is lack of information and vision on this crypto and Bitcoin and for those who have been in, lack full confidence in venturing in to the deep risk taken. But still some are fully granded and take the risk because many of the able to do on crypto are the 40s who have venture in deep, who never relent to improve themselves both technically and technologically. The wide spread of today crypto and Bitcoin and the use can't be compare the past 40s the knowledge and and usage is wide spread, is ushering many people into it. Note: I am not saying everyone above 40 years are reluctant but it's just my experience and it might be related to certain geographical location or certain set of people. I am not generalizing it but share my experience.
People who don't really understand it, prefer to avoid it by making poor logical statements, as calling it a bubble or scam. But the reality is that they don't really understand it as they are passed that age where fast learning is possible so instead of accepting the fact that they can't understand it, they make other bogus claims and then avoids it.
Older generation don't know how to use cryptocurrency and they don't even know how to use the internet. There is no correlation between crypto currency and older generation as they are not so much modern as per present time. As cryptocurrencies are not legal in our country, the older generation of our country does not know what cryptocurrencies are.
But compared to the older generation, our new generation is much more educated and modern due to which they understand and know better about cryptocurrencies. Cryptocurrency has become so popular all over the world since the invention of Bitcoin.We all know that Bitcoin was invented in 2009 which is almost 15 years ago today.Now those who were born in the early 19th century but our older generation will not know or understand anything about this Bitcoin or Cryptocurrency.
But compared to the older generation, our new generation is much more educated and modern due to which they understand and know better about cryptocurrencies. Cryptocurrency has become so popular all over the world since the invention of Bitcoin.We all know that Bitcoin was invented in 2009 which is almost 15 years ago today.Now those who were born in the early 19th century but our older generation will not know or understand anything about this Bitcoin or Cryptocurrency.
To be honest, some of these older people are not yet into technology, they still find it difficult and even to operate their devices while some who do are just afraid to risk their money into maybe making any investment. They usually have these feelings of no paper work to sign during the investment process so they feel insecure investing. Their are also some older people who are into Cryptocurrency but they are just few compared to those who don't want to participate into Bitcoin or crypto investment.
Age has nothing to do with it. To me it is all to do with a person - regardless of age - understanding the Digital Age and all that it entails. For most that means understanding all that has happened since the 1st IBM PC (and the Mac) being introduce to the world back in the early 1980's. In my case it was 1974 when I built my 1st computer, an Altair 8800 followed by the SWTP 6800.
In short - if a person knows how to use a computer and has at least a basic understanding what goes on 'inside the case" along with the sense to thoroughly research things then they will be fine. They just need to be comfortable with using digital technology.
Speaking of being comfortable with tech... Perhaps it's because of my (many) decades of working with PC's frankly I'm aghast at how many younger folks NEVER even think about the risks in using any connected device be it a PC, 'smartphone', or tablet that not only can but DO present when personal information much less financial information is processed using them. Being so comfortable with tech that a person uses it with no thoughts whatsoever about security as so many 'younger' folks do is just asking for trouble.
In short - if a person knows how to use a computer and has at least a basic understanding what goes on 'inside the case" along with the sense to thoroughly research things then they will be fine. They just need to be comfortable with using digital technology.
Speaking of being comfortable with tech... Perhaps it's because of my (many) decades of working with PC's frankly I'm aghast at how many younger folks NEVER even think about the risks in using any connected device be it a PC, 'smartphone', or tablet that not only can but DO present when personal information much less financial information is processed using them. Being so comfortable with tech that a person uses it with no thoughts whatsoever about security as so many 'younger' folks do is just asking for trouble.
It is different in the past and of today and that's why many of the old generation are reluctant of investing to the current modern world asset which is Bitcoin and any other cryptos.
But for those that are of the same age but hesistating as well, they won't judge as long as they're keeping themselves informed by simply doing their own research to understand why many younger people are in it.
I don't think that there's any relation about jealousy or what, they have their own ways of determining an investment for them if it shows or doesn't shows any red flag.
But for those that are of the same age but hesistating as well, they won't judge as long as they're keeping themselves informed by simply doing their own research to understand why many younger people are in it.
I don't think that there's any relation about jealousy or what, they have their own ways of determining an investment for them if it shows or doesn't shows any red flag.
We have often seen youngsters are more open towards crypto and adapting it wherein the older generation like the ones who are in their 40s and above are reluctant towards crypto and often term it as bubble or scam though they know that it's not a scam. Is it out of jealousy that they couldn't onboard into crypto at the right time hence bad mouthing it or else just that they are not ready to accept something knew as kids are becoming millionaire with crypto which was never case with any other asset hence this looks too good to be true for them.
Note: I am not saying everyone above 40 years are reluctant but it's just my experience and it might be related to certain geographical location or certain set of people. I am not generalizing it but share my experience.
Note: I am not saying everyone above 40 years are reluctant but it's just my experience and it might be related to certain geographical location or certain set of people. I am not generalizing it but share my experience.
Even the old generation doesn't know about it because at that time this thing was not as common as it is today, crypto didn't even have an online system at that time and no one had a mobile phone. For this reason, those who are over 50 years old did not take part in it.
Once those people know about its benefits, then start investing in it and try to know what it is because it is a great earning platform. It is useful but actually it is very important to know it.
I think maybe older people already have significant savings & pension funds etc. they use traditional brokerage firms with boring stocks and 401k packages. They don’t look for alternative investments because they maybe don’t need to, they are already financially sound. I wouldn’t say 40 is the cut off though, there are loads of people over 40 deep in bitcoin. It’s probably the over 60’s who are hesitant to get into crypto.
Older folks in their prime had solid investments that is still giving them ROI till this day, and there's nothing that you can tell them about crypto investment, assets that is in digital currency that'll make any meaning to them. And you can't really blame them if they don't key into crypto investments because of the news of social media scams, they'd think that any investment that is not in real physical asset is scam. They'd believe that only shares in physical companies, real estate, bonds that is guaranteed by a central authority, they want investments that they'll hold a physical certificate as evidence of ownership. It's only the younger generation who are born in the internet age that can fully understand the modern technological investments like Bitcoin.
We have often seen youngsters are more open towards crypto and adapting it wherein the older generation like the ones who are in their 40s and above are reluctant towards crypto and often term it as bubble or scam though they know that it's not a scam. Is it out of jealousy that they couldn't onboard into crypto at the right time hence bad mouthing it or else just that they are not ready to accept something knew as kids are becoming millionaire with crypto which was never case with any other asset hence this looks too good to be true for them.
Note: I am not saying everyone above 40 years are reluctant but it's just my experience and it might be related to certain geographical location or certain set of people. I am not generalizing it but share my experience.
I haven't seen anything like this. In fact most people i know that are heavely invested in cryptos are over 40. Most of them started under 40, but that's because bitcoin itself is already almost 15 years old. And people who invest in anything are way under 40, at least from people that i know. Note: I am not saying everyone above 40 years are reluctant but it's just my experience and it might be related to certain geographical location or certain set of people. I am not generalizing it but share my experience.
And people who are into crypto are into risk and volatility, that doesn't rule out people over 40. If you doubt that, maybe check stats on how many old people are gambling. Like ex poker players, that have found a new way to "gamble". And it's not just old people getting jealous. Or even young no-coiners, because there are ton of crypto people being jealous about people making money with a wrong thing. Their bags aren't mooning with the rest, and nft and meme token holders seem to be making millions while their fundamentally "safe" coin isn't going anywhere. Jealousity is a condition that exist in all age groups.
Quote from: btc78
I do think that the older generation just do not trust the internet or anything that has to do with it in general hence the reluctance to accept any kind of development that occurs on the internet I think the age group needs to be a little higher because people that are 40 to 45 at most still are very open to some new developments but any age higher than that seems to have a hard time accepting crypto
Old people don't announce themselves the way all those new generation are using internet to discourage people these days with scamming people with fake projects in the society that will never bring profits in the future.One thing you don't know about those that are above 40 or 45 is that they don't make noise when they accept crypto because, they know that they have grow up children they will not want them to know that they have any relationship with crypto in the society for security reason and for their safe too.
Our older generation was not as educated and smart as our new generation is educated and smart because of which they consider crypto as a scam. Cryptocurrency is not legal in our country yet we use it secretly and when our older generation hear about this cryptocurrency they tell us that it is completely illegal and Scam. They ask us to refrain from using them. If they were educated and smart like us, I think they would have used crypto currency with us.
It may also have something to do with the older generations to have more trust on the government and on whatever the public officials have to say about cryptocurrency and it's legitimacy. The younger generations are more skeptical on what the government has to say and they try not to blindly trust in the official narrative.
It is quite ironic, because while the people of previous generations believe Bitcoin and cryptocurrency to be just a big scam, I have seen some of them actually falling for actual scams in social media, in which they alledgely won thousands of dollars for participating in a simple survey.
I don't know. I guess this society can be quite strange in many ways. Ideally, nobody is supposed to fall for any kind of scam, regardless of their generation.
Jump to: