Topic: Is ageing and old people part of bitcoin? - page 8. (Read 1212 times)

I'm 75 years old. I bought into Bitcoin 10 years ago when it was $68 per coin because I saw its world-changing potential. I wasn't trying to get rich. I was participating in a revolution.

Now I'm living happily ever after. When I first became a Bitcoin millionaire 6 years ago, I replaced my old rotten teeth with top-of-the-line zirconia implants and bought 3 properties in Mexico. When my remaining bitcoins became worth more than $10m I bought 400 acres in prime cottage country with my own private 25 acre lake in the middle. Last year I bought a $2m triplex house in downtown Toronto. After a life of being single, I got married at the age of 71 to a woman 28 years younger than me. I didn't tell her about my bitcoins until after we were already together. Turns out she knew about Bitcoin before I did and always regretted putting her money into aquaponics instead of Bitcoin.

If anything, older people have an advantage when it comes to Bitcoin. They are more likely to have money to invest and definitely have more patience to hodl. They're probably also smarter. Remember it was boomers who gave us the internet  and cryptography. Don't sell them short.

Bitcoin is also a currency, an asset class, but its use is a bit more complicated than using fiat or gold. Because bitcoin is a digital currency, those who want to use bitcoin need to have a basic knowledge of the technology, which is quite difficult for many elderly. Among the elderly, not everyone can use the internet, so it is difficult to recommend bitcoin to them. So by introducing them to bitcoin, we're really giving them a hard time.

February CPI was 6%, as expected and bitcoin had a massive rally to $26.5k, but for bitcoin to hit new ATH this year, we need more big news like that. And I don't think it's going to happen.

Bitcoin is the same as assets or money, all humans who already understand money can use bitcoin, and the biggest surprise occurs again today because the price has crossed a psychological limit of $ 25k and has now reached $ 26500, up more than 18% in 24 hours when I write This post, I'm sure the price will continue to skyrocket and predict that this year will reach New ATH can happen again.

It's really hard to say if our parents are into bitcoin or crypto in general. I would agree if they are into stocks because I know my parents are. I introduced them to crypto and they say no because you know, they can't take the volatility and how the price swings.

But there could be elderly who wanted to explore more and try their hands in this so called crypto market and could have been enjoying themselves. And we all know that they have the mentally fortitude already because of their experience thru age.

whatever business or investment we do will definitely be supported by our parents as long as the business or investment is profitable and does not violate the rules in your country. Currently the development of technology is very rapid, meaning that today's technology is different from the technology when your parents were teenagers. all you need to do is explain how this crypto business or investment works.

There is a big difference between parents who are 80 years older and 40 years. It is normal that people who are older will not know about Bitcoin. Bitcoin was founded in 2008 but at that time old people were almost retired. But in this generation parents will be able to have a good idea about it. Because they are familiar about Bitcoin and everyday they hear about it. As parents whichever generation comes from the present time they will teach their children about bitcoin.

Our parents are not involved in Bitcoin. They don't know and understand Bitcoin. We earn money from here they find this earnings very amazing. Still there are many elderly parents who may know about cryptocurrencies because they are educated. But 80 to 90% elderly parents don't know about cryptocurrency. But when we are old our sons and daughters will say that my parents know about Bitcoin. Here we cannot say that our old parents know about Bitcoin.

Age is not a barrier for the elderly to access bitcoin, but I think it's their level of education and acquisition. There are some people who are well educated, it's not too hard to get access to something new like bitcoin, but there are also many old people who are not as well educated as we are now because, in the past, not everyone was fully educated.

My parents are not too old, but because of their economic conditions, they have only been familiar with the internet and smartphones in the last one or two years. They can't even use online banking, it's almost impossible to educate them about bitcoin.

sadly , I have no parents or any old in the family that I can ask or try to endorse bitcoin as investments , though there are distant relatives yet we are not that close to let them see these things.

but i believe that Old people still has capacity to invest and learn and be part of revolutionary crypto world now.

There are no conditions that must be met if they intend to study? Age as you said is no longer their world to learn bitcoin, just imagine how we will explain something about bitcoin and where to start, while their eyesight is a little blurry, their forgetful memory and readiness to take risks is also quite worrying.

Someone over the age of 70, 80 and 90 will be very susceptible to pressure and if something happens, for example bitcoin is hit hard at a low price, then blood pressure will bring them to a heart attack stage. The question is who will be responsible?

Basically there is no age limit for investing, because bitcoin was not created for just a handful of people, but the age factor makes it difficult for them to accept the concept and workings of bitcoin and crypto in general. There are many limitations that make it difficult for them to adapt, one of which is technological prowess that they do not master, but of the many parents there are also those who are involved in the crypto space, both using investments and as developers. But I have to agree, that their representation is very little involved.

And it's not advisable for the OP to influence his father and grandfather to invest in bitcoin, because there will be a lot of messes for you to clean up later.

it is just the age that you are telling but their capacity?

we can see people now at those age making videos  in youtube and blogging so how come that they cannot partake in investing in bitcoin at that ages?
mine does not because She has her own business to face and maybe no time to invest in bitcoin but she shows interest mostly when we are talking with my brother.

and also last december she told us that she might  invest half of her asset in crypto sooner.

I think on this forum alone there is a member who is above 50 years old. Like everything Learning don't depends on age old people can learn bitcoin. and like other said there is Commodity stock and forex trade back then till this date. Our parent or maybe old people who play investment platform might little learn and they maybe will understand

This is your own false claim, not that of older generations like our parents. Before bitcoin, we had stocks, and forex trading, and both still exist today. If talking about scams crypto market has more scams than the other two, and bitcoin is considered a get rich quick compared to the other two because of their volatility. You and I are investing in bitcoin instead of stocks and forex because bitcoin will make us rich faster. I am also a bitcoin investor, but I think it is unnecessary to speak ill of others to celebrate the greatness of bitcoin. All have advantages and disadvantages.

I tried luring my mother couple years ago but since she is not a Techy person then she denied learning but not until last 2021 when she see it spiking so high that told me to invest a decent amount in her name and yes , till now she kept holding lol.

it is not about the age and not about the capacity to learn but of us how to let them trust the crypto as they wanted an assurance in every cent they are going to release.

Time is not a challenge for the elderly because as you said: bitcoin is also a currency, a payment method that does not require 3rd party intervention. Older people who don't want to invest can also use bitcoin for other uses like payment, asset storage, etc. The only challenge for most elderly is that they need to be tech-savvy, they need to know how to use a smartphone and a computer to be able to use bitcoin. Bitcoin is very versatile, when it comes to bitcoin, it is not only an investment, but it is also a currency, an extremely convenient means of payment.

I guess there are a significant number of people who are in their 70s who are into Bitcoin. I cannot be sure but even here on the forum I suspect there are a few who are already past the age of 70. 80s and 90s are already old. Although it is still possible for these old men to discover new things including Bitcoin, if they are not really familiar with what it takes to properly understand and secure their money like not clicking on anything, downloading the official versions, etc, it is better to just avoid it. They better just enjoy whatever it is that they love.

I believe that yes it is education that gives big competence in this but I also believe that it is not only that but those parents that practical and knows about how to earn in any ways, because computer education nowadays can simply be attain using internet .
but also correct that if they are too aged for this to understand then there is no way that they can accommodate the understanding and the risk.
if still a kid, but we are talking about mature people here mate as it is about investing and nothing more .

I tried telling many people 10 years ago about bitcoin, I found age had nothing to do with to being open to new ideas and still doesnt. Every now and then someone will say I wish I had of listened and brought 1k's worth, but thinking they are to late now.

it is unlikely for parents over 70 years to like Bitcoin and crypto, because I have tried it on my grandfather, and he said he was not interested in the internet world because he was lazy to study and wanted to just relax at home. see how warren buffet rejects bitcoin, from the site we can see that the old man has no more interest in things related to cryptocurrency.

This is case to case basis since there are elderly or who are old which are still having those kind of mind where they are really that open to ideas but most of the time it do really lost up our interest on opening up a topic

about crypto considering that this do really require up some technology knowledge or awareness and we do know that older people who are really that get used to those traditional things that they do know.

Its good if there are ones who could easily able to catch it up and eventually learn along the way but most of them wouldnt really be minding themselves on
learning because they arent really that interested or too much complicated for them to understand.