It is the financial system that I am so worried back then.
From that time until now I still dont use banks. It is just my payroll which goes to the banks and I withdrew them all quickly once payroll is done.
Up until now I dont trust the banks, they use our money just so they could profit more.
One more that I worry is how transaction fees are getting larger. The higher the amount you send the higher you will pay. Yeah Western Union is one good example of it.
I started learning crypto currencies and all those worries faded away. I send money like once a month and I can say I saved a lot by now with all of those years that I did it.
Topic: Do you remember how you feel about during 2008? - page 6. (Read 1137 times)
2008/2009 feel like very special year for me, I could feel all the people around me are very different compare to before, they have a lot of worries, I overheard one of my respected senior talking about their worry about their pension, worry about the future generation, worry about their job security, a lot of worry, but as a millennial I have no clue why they're so worry about them.
To flash back it today, I'm still unable to understand all their worries, it may be the reason of age-gap, the one age group that felt stronger came from the older generation.
Well, I would like you to describe what's your feeling about 2008 and why it is so special compare to any other year like 2009,2010,2011 etc.
Also bitcoin was born in this particular year, the emotion must be so strong that it drive Satoshi to finally decide to do it.
2008/2009 feel like very special year for me, I could feel all the people around me are very different compare to before, they have a lot of worries, I overheard one of my respected senior talking about their worry about their pension, worry about the future generation, worry about their job security, a lot of worry, but as a millennial I have no clue why they're so worry about them.
To flash back it today, I'm still unable to understand all their worries, it may be the reason of age-gap, the one age group that felt stronger came from the older generation.
Well, I would like you to describe what's your feeling about 2008 and why it is so special compare to any other year like 2009,2010,2011 etc.
Also bitcoin was born in this particular year, the emotion must be so strong that it drive Satoshi to finally decide to do it.
I don't have a good story with bitcoin in 2008/2009, I don't know what I was doing at the time, so I haven't been about Bitcoin for years, if at that time I had known Bitcoin, maybe now I was a very lucky person and felt a lot benefits.
Fisrt time I know about bitcoin at the end of 2015 year, but I still don't know about bitcoin as investing or trading, only use bitcoin as payment transaction for receiving at investment project, I sell my bitcoin without waiting price will grow up.
So you must learn at a lesson from your mistake that once you invest in bitcoin you will have to wait for the price to be normal once again because it grows your money within month, I got to know about bitcoin in 2017 when price was already at peak but till now I did not invest as I am using it as a job still I am collecting money to invest as price now a day is really affording. 
Looking at back at those stock charts, the 2008 crash was nothing compared to the corrections we have seen in crypto. 80% down is just another day in bitcoin world, imagine if that happened in the stock market. There would be panic everywhere and people jumping out of their buildings.
well fortunately in 2008 I did not know of a cryptocurrency exchange so I did not experience such an event, but I can only see the condition of the price chart that occurred.
i don't know it because i do not attend in the crypto since 2008 year.im in here 2013 year and getting start crypto 2013 year.and since then I started researching it.but yes at the very beginning,i suffered a lot first time.but with the 2017 i could fill it.from now on i understand which is time would be better for me.
Fisrt time I know about bitcoin at the end of 2015 year, but I still don't know about bitcoin as investing or trading, only use bitcoin as payment transaction for receiving at investment project, I sell my bitcoin without waiting price will grow up.
During that time I am not aware of crypto currency. I do not even heard about it. All I think at that time is to get a job and support my family. So the time that I learned about it, how I wish I knew it earlier.
very lucky if we can know him and buy at that time because the price is very cheap. and maybe now enjoy life. but it's true that not only you, I also didn't know the bitcoin currency that year
if the fall continues, prices will return to the 2008 level, the longer the decline goes, the less faith in growth,
I still believe that these are temporary difficulties.
I still believe that these are temporary difficulties.
It was started and built with simplicity and yet strong and rooted that could lead the digital industry into a massive good changes. Here we are witnessing the improvement and continues virtual progress even there are ups and down still crypto is alive. The massive and impressived growth of crypto community and cryptos is unbelievable. It is also unstoppable now and in the future.
Bitcoins was the answer to the 2008 finansiel crisis, a crisis that ended with the centrals banks started the money printing scheme we are still in 10 years later, the debt have never big bigger and the finansiel crisis will come back with even bigger consequent one day.
In 2008 there was massiv layoff, so people was worrying about there future.
bitcoin be alternative investment or saving for us.investment world was very dangerous, and if we take a part in this world we should consider bitcoin and cryptocurrency as our portofolio.technology benefit from cryptocurrency will make it greater than other investment.and if world finance in crisis, this market could be the savior.In 2008 there was massiv layoff, so people was worrying about there future.
There was a thread a opened last year here, specifically about the biggest bankruptcy in American History.
(https://bitcointalksearch.org/topic/lehman-weekend-the-biggest-bankruptcy-in-american-history-5028744)
~ snip ~
It is definitely a good reading. I think most people simply don't have saving during the time, or they could barely have any saving, I have few of my peers who are so lucky to obtain some of the best scholarship for their education, and it's enough to last the education easily while still have 50% fund leftover for their disposal, but I'm simply amused by how they quickly dry up all the fund within a few years, just for the rent for the utility bills, the fee for all their education need, and well you know it's also the time when they encouraged to begin to pursue their love during youth, I believe they spend most of the fund into someone they love, I had experienced myself that I usually spend crazily just to impress the girl that I like, and it usually work, and I wouldn't control my spending easily after that.(https://bitcointalksearch.org/topic/lehman-weekend-the-biggest-bankruptcy-in-american-history-5028744)
~ snip ~
Thanks, yeah there's a lot of good replies in that thread as well. We can only assumed that people didn't save because they're not aware of any economic crisis, just around the corner. As I have said, it's really a wake up call for me, really hard to keep up with all the bills if you don't have work. That's why I learn to have like half a year of buckets, just in case something worst happen. Just like your friends, they have 50% funds leftover but in just short amount of time, it was depleted. What can I say, they're young and enjoying life. But if given the chance, I would rather save for my future.
Based from what I have expeprienced year 2008 and 2009 for me where the days I had a lot of changes in my life. Economy was way better than what is today. Cryptocurrency was not even heard at that time in my region, it was only heard of when a virus that asks for ransome appeared infecting files and asking for bitcoin payment. Worries about money are still a daily part of anything but not until now when almost in anything you do worries will just pop every second of the day. High inflation rate, more unemployed individuals and so many other things. How I even wished time could be like those times again when life was not as hard as now.
Bitcoins was the answer to the 2008 finansiel crisis, a crisis that ended with the centrals banks started the money printing scheme we are still in 10 years later, the debt have never big bigger and the finansiel crisis will come back with even bigger consequent one day.
In 2008 there was massiv layoff, so people was worrying about there future.
bitcoin be alternative investment or saving for us.investment world was very dangerous, and if we take a part in this world we should consider bitcoin and cryptocurrency as our portofolio.technology benefit from cryptocurrency will make it greater than other investment.and if world finance in crisis, this market could be the savior. In 2008 there was massiv layoff, so people was worrying about there future.
Bitcoins was the answer to the 2008 finansiel crisis, a crisis that ended with the centrals banks started the money printing scheme we are still in 10 years later, the debt have never big bigger and the finansiel crisis will come back with even bigger consequent one day.
In 2008 there was massiv layoff, so people was worrying about there future.
In 2008 there was massiv layoff, so people was worrying about there future.
Not that long ago, even early in 90's house prices weren't like this. I remember my dad paying about %10 of his salary to rent and decided to get a house instead and paid about 3 years salary worth of money to buy our house. Think about it, 3 years worth of salary to buy a house, he wasn't some CEO of a big corporation neither, he was just a middle management in a logistics company. Which means he was making money a bit above the regular average and twice the minimum salary.
Look at the minimum salary of today, double it and calculate the 3 years worth of it, can you buy a house with it ? Impossible task, which means it is not going well for any of us, not just the millennial but also the elderly people who do not have as much as their friends have. Some old people saved and that is why they look down on us but not all of them did, hence why everyone should be scared of where we are headed.
Look at the minimum salary of today, double it and calculate the 3 years worth of it, can you buy a house with it ? Impossible task, which means it is not going well for any of us, not just the millennial but also the elderly people who do not have as much as their friends have. Some old people saved and that is why they look down on us but not all of them did, hence why everyone should be scared of where we are headed.
No argument there......debt is obviously a general problem these days. But I think millennials have felt the sting most because they never had the opportunity to save like previous generations. It was ~ 2000 or so when wages decoupled from GDP and all economic growth began being swallowed up by bankers. So millennials have never known anything except shit wages and skyrocketing cost of living, in addition to being piled under debt.
Millennial are also usually being called failure generation, lazy, not working hard enough like previous gen, unmotivated, who can’t provide food, money, and responsibility to themselves or anyone else, and most of them are basement dwellers, it is sound like they’re doing everything to become sabotage the society, what if they’re never given a chance for at all?That's sort of where I'm coming from. I think millennials have things much harder than the couple generations that came before them. Property is becoming completely unattainable for working class and even middle class folks. Pensions are a thing of the past. In the USA, even job benefits (medical insurance, paid sick days, and so on) are becoming a thing of the past as we transition away from traditional employment in favor of independent contractors. All while rents and food prices are increasing (and wages are not).
This situation is a ticking time bomb and I truly wonder younger people will do in the coming years. I believe consumers are in a much more precarious position this time, if another 2008 happens.
No argument there......debt is obviously a general problem these days. But I think millennials have felt the sting most because they never had the opportunity to save like previous generations. It was ~ 2000 or so when wages decoupled from GDP and all economic growth began being swallowed up by bankers. So millennials have never known anything except shit wages and skyrocketing cost of living, in addition to being piled under debt.
It’s unusual for the time being, because it is very strong it can be felt for everyone from young and old, I wouldn’t believe after knowing how my young nephew are being so political too just as young as 6 years old, when I’m young, I never talk about politics with anyone or I rarely know about it, today it is totally difference, everyone will talk about politics, as young as 6 yo, sound like a crazy leap forward.
I heard about bitcoin and read a few thing about it. Since I don't have enough saving because of beeing at the start of my career with a low income, I couldn't buy any bitcoin. Although I felt very sad and regretful for missing the opportunity like many on the forum, I got a chance beeing a part of this community and feel nice now.
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