Topic: Crypto & Older Generation (Read 455 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.
Soon they will be replaced by even younger than us and the younger generations will adopt crypto as their preferred currency all over the world since the advantage and the way that it can be preserved is easier than the fiat that the old generations have gotten used to. If only, we didn't have these critics who were making noise and causing confusion to the people with their hoaxes and lies against bitcoins, we would have already been using bitcoins in our local market and other local stores in most countries in the world because of its popularity but right now, we need to handle them as well and shut them down every time they cause tribulations with their FUDS whenever they found some unapproved theories and link it to degrade bitcoins and crypto miners.
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.
I must say that the older generation don't have interest in cyptro because it looks scammy to them.They are exposed to fiat currency means of exchange,so cyptro look strange to them as it is stored in a digital wallet.Those older generation that knows the value of cyptro are investing and making huge gain.Older generation that feel reluctant about cyptro in my country are in their 60s to 70s.
The older people simply don't know how to go about cryptocurrency and also the internet looks like a challenge to them but they may not tell you this opening because they don't want to be seen as someone not informed about the use of the internet. The internet to me is the challenge here and I believe if everything about cryptocurrency were to be offline then you will see the kind of interest from the older generation. The old that is investing in crypto are those already visiting the internet and having businesses online requiring email address or social media marketing handle to marketing and transactions.
I must say that the older generation don't have interest in cyptro because it looks scammy to them.They are exposed to fiat currency means of exchange,so cyptro look strange to them as it is stored in a digital wallet.Those older generation that knows the value of cyptro are investing and making huge gain.Older generation that feel reluctant about cyptro in my country are in their 60s to 70s.
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.
Any adult that feel jealousy for the younger generations because they’re making millions through crypto must be inhumane and can be very dangerous to hang around with. This technology has equipped the young ones to find a means of fending for themselves in a world that is evolving to be digitalised. If the youngsters don’t take advantage of it, what will be their gain to be in that time of evolving technology?
This is the time for the youngsters as their own time has passed and if they can’t suit in here, they shouldn’t bad mouth it. After all, crypto is designed for all to embrace and not just for one class or set of people, so I see nothing wrong in them seeing it from another perspective that will bring hatred to the young ones that are already into it.
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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.
It is like that in most regions. I feel most of them don’t want to get into bitcoin because they feel it is for the younger generations and their brains cannot withstand the consensus on which it was designed on. They just assume they’re not literate enough to use the currency.
I mean. It is not a secret that Bitcoin and alternative currencies are about technological innovation and decentralized networks. The older the person is, the less tech savvy that person is. It is obvious the youngest generations are more prone to adapt to technology and internet in general, since the have grown up with it.
It is not exclusively about age, anyone, regardless of their age is supposed to be able to conduct their own research and and realize what projects/coins are scams and what ones are legitimate.
Eventually, as Bitcoin becomes more widespread, more people will think positively of it. Some will believe it is a currency, others in the other hand will see Bitcoin as an speculative vehicle.
It is not exclusively about age, anyone, regardless of their age is supposed to be able to conduct their own research and and realize what projects/coins are scams and what ones are legitimate.
Eventually, as Bitcoin becomes more widespread, more people will think positively of it. Some will believe it is a currency, others in the other hand will see Bitcoin as an speculative vehicle.
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.
We humans are all the same. Because our values are based on nostalgia. I am not saying that all old people act like that. But many do. Fear the new and love the known. And maybe one day, something greater than crypto will be developed. Our generation is not going to want to leave crypto behind and adopt it instead, no matter how good the arguments are for the switch.
I can only hope to always try and learn new things when I get older, because living in the past is not a good way to live. Older people could be much happier living in modern times than in nostalgia but that depends on their character.
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.
I don't see why an older person should feel bad about the young people who are succeeding in cryptocurrency. If they missed out on it in its early stages, they can still participate now because cryptocurrency has no age limit on who can benefit from it. If they believe the technology is too advanced for them to use, they can encourage their children to learn about it because their brains can handle it. Crypto is not a scam, and many older generations are already aware of it; anyone who claims it is a scam is simply jealous and does not want others to benefit from it because they missed out on it in the early stages of adoption.
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.
I don't think it's jealousy, I think when you reach a certain point in life you value comfort and you'd rather things don't change too much. Plus, they probably don't understand the technology, they barely know how to use the internet how can you expect them to comprehend digital money?
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.
We humans are all the same. Because our values are based on nostalgia. I am not saying that all old people act like that. But many do. Fear the new and love the known. And maybe one day, something greater than crypto will be developed. Our generation is not going to want to leave crypto behind and adopt it instead, no matter how good the arguments are for the switch.
I can only hope to always try and learn new things when I get older, because living in the past is not a good way to live. Older people could be much happier living in modern times than in nostalgia but that depends on their character.
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.
The younger generation embraces cryptocurrencies because they are more technologically inclined. They are more exposed to innovation in the financial ecosystem. Many of the older generation are not even computer literate so they don't have basic knowledge about cyberspace this might be the reason why many of them don't pay attention to cryptocurrencies. Due to their ignorance about the crypto space many of them have also been victims of scams that will scare them from dealing in cryptocurrencies. 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.
Therefore I don't think it is because of jealousy that many of them are not joining the sector, it is more because of ignorance. If they have better knowledge about Bitcoin they would invest in the sector, after all, everybody wants to make money.
Now that the SEC finally approved Spot Bitcoin ETFs, the narrative will change. Older people on average have a lot more money than younger people. Blackrock, Fidelity & others will be shilling Bitcoin hard to these investors, we will probably find that over the coming years, older people have exposure to Bitcoin in their investment portfolios due to Spot ETF products.
The approval of Spot ETF is a big boost to Bitcoin awareness and adoption. Many of these elderly people who are scared of keeping their keys and passwords will be comfortable investing in centralized platforms. Others who see self-custody as a complicated process will also find the ETF approval helpful. 
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.
Have you ever thought that people who are now in their 40s, could be young guys who got interested in bitcoin in it's early days (2010-2015)? If you got your first bitcoin as a 28 year old, you could be now over 40 and treated like an old fart who doesn't know his way around new technologies. I'm not that old, but my first computer operated DOS and Norton Commander and was buying bitcoin sub $1k
I think that you mean people over 60 are reluctant. I know a lot of people age 30-40 and age has nothing to do with it. It depends mainly on your character, hobbies, line of work. Someone who works in a server room will be interested regardless of age, but you'll have a difficult task getting through to a bank manager, or someone with a government position, especially in finances.
Now that the SEC finally approved Spot Bitcoin ETFs, the narrative will change. Older people on average have a lot more money than younger people. Blackrock, Fidelity & others will be shilling Bitcoin hard to these investors, we will probably find that over the coming years, older people have exposure to Bitcoin in their investment portfolios due to Spot ETF products.
Crypto is a new innovation that came into existence in this new generation and that is why you see that it is a youth thing because the youths are the future of tomorrow, and they are open to new technology because they want to exploit from it. The youths are open minded to learn something new, since they are in their learning age.
The old people are already used to their old pattern of lifestyle, saving money in the bank and also going to physical places to work since this was what they learnt from their youthful age. They are always law abiding and don't need anything that is not from the government. Since cryptocurrency is not from the government unlike fiat that is their country's currency, they will believe that it will not last and this is why they think that it is scam. The old ones are cool with the bank taking control of their money.
OP, 40yrs should still be considered to be a youth and this age people are into cryptocurrency. It should be from 55yrs and above.
The old people are already used to their old pattern of lifestyle, saving money in the bank and also going to physical places to work since this was what they learnt from their youthful age. They are always law abiding and don't need anything that is not from the government. Since cryptocurrency is not from the government unlike fiat that is their country's currency, they will believe that it will not last and this is why they think that it is scam. The old ones are cool with the bank taking control of their money.
OP, 40yrs should still be considered to be a youth and this age people are into cryptocurrency. It should be from 55yrs and above.
Well!
As cryptocurrencies continue to reshape the financial landscape, the older generation finds itself at the crossroads of curiosity and caution. Many seniors, traditionally accustomed to conventional banking, grapple with the complexities of decentralized digital currencies. The allure of potential financial gains clashes with apprehensions rooted in a lack of familiarity.
For some, embracing crypto represents a leap into the unknown, navigating through the intricacies of wallets, exchanges, and private keys. Concerns about security and market volatility echo loudly, acting as deterrents. Yet, an increasing number of seniors are recognizing the importance of adapting to the evolving financial ecosystem
As cryptocurrencies continue to reshape the financial landscape, the older generation finds itself at the crossroads of curiosity and caution. Many seniors, traditionally accustomed to conventional banking, grapple with the complexities of decentralized digital currencies. The allure of potential financial gains clashes with apprehensions rooted in a lack of familiarity.
For some, embracing crypto represents a leap into the unknown, navigating through the intricacies of wallets, exchanges, and private keys. Concerns about security and market volatility echo loudly, acting as deterrents. Yet, an increasing number of seniors are recognizing the importance of adapting to the evolving financial ecosystem
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.
When the old people say that crypto is a scam or about to burst bubbles, they are not outrightly wrong. Some of the old people do not joke around with their hard earned money, so they are very skeptical of the investment they venture into. In the actual sense, most of the coins we see in the cryptocurrency industry are scam coins. Yes, they are. It is only Bitcoin and a few other coins that are real. So, when making your analysis, ensure you are coin specific.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.
Talking about the age factor you noted in OP. The younger generation are so much in a haste to become millionaires while the old ones are not much moved because they have tasted money in one way or the other.
Exactly the answer I was looking for and now even I feel the same as they are not completely wrong but to an extend as we have seen the kind of scams which happens in Crypto, younger generation indeed wants quick gain and wants to become millionaires overnight as we hdon't have the kind of patience and efforts which the older generations had and moreover how future trading both longs and shorts have been liquidated they would far distance themselves from crypto and trading.
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.
When the old people say that crypto is a scam or about to burst bubbles, they are not outrightly wrong. Some of the old people do not joke around with their hard earned money, so they are very skeptical of the investment they venture into. In the actual sense, most of the coins we see in the cryptocurrency industry are scam coins. Yes, they are. It is only Bitcoin and a few other coins that are real. So, when making your analysis, ensure you are coin specific.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.
Talking about the age factor you noted in OP. The younger generation are so much in a haste to become millionaires while the old ones are not much moved because they have tasted money in one way or the other.
It's because they're close to the older age for which they need and want some stable things in their lives. If they don't have much money, it is understandable if they're choosing other investments and assets that they can take the risk of. Whilst for crypto, it's very highly volatile and they can't settle with that risk especially if they don't have any much dependence on their children or any other people.
Even I, I'll choose stability than taking a gamble and risk with assets that I have no idea. But I think what they just need to know is to understand and get educated of what actually Bitcoin is for them to lose that fear that they're having. Everything can be learned even if you're not the most educated person on this technology and investment, you'll eventually learn it along your way when you persevere.
Even I, I'll choose stability than taking a gamble and risk with assets that I have no idea. But I think what they just need to know is to understand and get educated of what actually Bitcoin is for them to lose that fear that they're having. Everything can be learned even if you're not the most educated person on this technology and investment, you'll eventually learn it along your way when you persevere.
It may not be that they are jealous. It could also be that they have little understanding of crypto. They may consider crypto as gambling. There are many people who face losses by trading and spread wrong information without understanding about crypto. Hearing this, older people may not think crypto is good. Many people cannot trust it when they see sudden growth. They think this money has no stability. So they may have a wrong idea about it.
Maybe some older folks feel left out of the crypto boom and express skepticism because it's something new and different from what they're used to. It's not jealousy for everyone, but rather a mix of unfamiliarity and a different financial landscape.
I think over 40 is a bit low, they would have been in their late 20s when this started and probably would have exposed to it then.
I am 45 and joined here in 2013 and still follow Crypto even though I am old!
I think it depends on the person, I know people in their 20s now that still think the whole thing is a scam and also people in their 50s who are eager to learn about it. It takes a certain sort of openminded person to embrace Crypto who is able to see through all the noise.
I am 45 and joined here in 2013 and still follow Crypto even though I am old!
I think it depends on the person, I know people in their 20s now that still think the whole thing is a scam and also people in their 50s who are eager to learn about it. It takes a certain sort of openminded person to embrace Crypto who is able to see through all the noise.
I agree with the op cause I have never seen an old man/woman owning bitcoin, although even if I will not know but there's no interest and in my locality anything associated with the internet older people will tag it as scam, I don't blame people with this mindset cause they never had the opportunity to explore new technology and they can never adapt to the modern system, I don't really see any point why older people will become part of this technology or any need of convincing such people to change their mindset
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
We have to understand that crypto is an innovation in the new age and those at the new age are the young and youth. They find it easy to understand what happens in the internet and digital world, accessing different applications and apps is not a problem but the old especially those at 55 above don't understand much of internet workings and so it looks like a burden to them to begin certain registrations, KYC etc. Those old that eventually build interest go through the young like their children to facilitate investment under their children. So it is not really surprising that the old don't have interest in it because they already have a source of income that they look up to and trying to learn new things becomes a big task for them despite others believe they don't want to invest foolishly and losing there money.
Younger generations have grown up in the digital age, where technology and innovation are a central part of their lives. They are more likely to be familiar with the concept of digital currency and the underlying blockchain technology, making it easier for them to understand and adopt cryptocurrency. I think the younger generation is generally more open to new technology and more comfortable with mobile and online platforms. On the other hand, older generations may be more cautious when it comes to investing and may prefer more traditional forms of investing. Such disparities may not exist in the future as cryptocurrencies continue to gain mainstream acceptance, it is likely that older generations will become more open to the idea in their investment portfolios.
I understand that some issues in the cryptocurrency field have a lot to do with information technology, so it is also a barrier for previous generations when they are familiar with traditional field investments. Some of the cases that I come into contact with they have always maintained a stance of not using the internet and what seems to limit them to the things that are changing in life. Other than that it seems that the younger generation is living in the right atmosphere. In the context of social change with the technology sector, most young people easily learn quickly how to use and receive new knowledge, and it is easier to understand that when a field offers opportunities, it attracts them.
Although it cannot be said that all are the same, it is clear that the majority in each part is showing the right change and adaptation to the times. I can also sense how the older generations have a negative view of machinery, as it replaces their animals in the agricultural sector.
Although it cannot be said that all are the same, it is clear that the majority in each part is showing the right change and adaptation to the times. I can also sense how the older generations have a negative view of machinery, as it replaces their animals in the agricultural sector.
I think the reason why the older people don't pick interest in new innovation like crypto is because they are not use to this trending things, new innovation and most of them have already gotten what they want in life like building houses , training their children, money is not what they are after like the young people. Like every young person is thinking of what can have add value to their life, what they will do that will bring money too them, this is the mindset of every young person. It is only few older people who understand where the world is heading to that picks interest fir things like cryptocurrency.
Crypto is new to them and obviously, we won't be shifting to a new money system over that we have been using it for centuries. It will take time for the adoption to happen and we are still in the process.
Another reason for not investing in crypto is the volatility that is very huge for an asset compared to traditional investments and investors who are successful stick to their ideas no matter what it is, that is why we see Warren Buffet is not into bitcoin even though all these hears proved he was wrong about bitcoin all the time.
Another reason for not investing in crypto is the volatility that is very huge for an asset compared to traditional investments and investors who are successful stick to their ideas no matter what it is, that is why we see Warren Buffet is not into bitcoin even though all these hears proved he was wrong about bitcoin all the time.
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.
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.
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