Topic: Millennials Are Twice As Likely To Buy Bitcoin Than Gold - page 2. (Read 410 times)
It is due to the fact that Millennials are easily attracted when they see an asset that is very profitable and have a huge price in the market. These days, if you ask someone what is bitcoin, they probably have an idea already so they will answer immediately. But still gold is much more popular as an asset compared to bitcoin because if you ask some indigenous people in a certain are, they know what gold is, so they will probably choose gold to invest rather than bitcoin. Also bitcoin is an active source of profit while gold is just a passive asset that you need to wait for so many years.
This interesting article shows that during this ongoing pandemic, many investors are looking for a safe place to "park" their money. 67% of millennials are more likely to invest in Bitcoin than the conventional Gold asset class.
What are your thoughts on the reasons behind this statistic, why are millennials more likely to invest in bitcoin than gold?, and could this be a bad thing overall for Bitcoin?
^ Millennials prefer new concepts that are not as complicated as gold. Bitcoin is an example of the simplest investment, you buy yourself, then store it in your private wallet, and then sell it yourself without having to bother thinking about where to store it. ease of investing is what millennials prioritize. What are your thoughts on the reasons behind this statistic, why are millennials more likely to invest in bitcoin than gold?, and could this be a bad thing overall for Bitcoin?
Because millennials prefer to invest in they think they can profit the most compare to traditional gold investment which is complicated hard to buy and really hard store if you want to keep it by yourself, crypto is very easy to managed,buy and sell and exchange to fiat, Im going into bitcoin also over gold.
What are your thoughts on the reasons behind this statistic, why are millennials more likely to invest in bitcoin than gold?, and could this be a bad thing overall for Bitcoin?
I think it is because Millennials are more familiar with how technology works.
With its application into business and investment, they are more knowledgeable about the advantages and benefits of bitcoin rather than gold.
Also millennials are more attracted to a short-term investment where you can manipulate it in the market because gold is not like that. We all know that millennials are much greedy because they want an easy money so they engaged to bitcoin but that mindset is wrong. Gold is more secured because it is for a long-term investment and you just need time to make it profitable.
Probably bitcoin is an old fashion of way in investing and we can have the new way as investing like digital currency in which the value of earning profit could be more than gold. This is why the new generation are after and usually can adapt the new trend of this technology. Traditional investor probably wanted to join in the bitcoin investment but it could be a hindrance to them in where they needed to learn the technology first in which they do not have in their time.
We can't force people to use Bitcoin for a specific purpose(payments) just because it says "A Peer-to-Peer Electronic Cash System" on the whitepaper's title.
Yes. A creation can go beyond the idea of its creator. If Bitcoin is going to succeed by being SoV, so be it.
On the other hand, it's not surprising what the article says about the millenials, since they perform much better in the digital world than previous generations.
I would say Gold or other similar commodity are a hedge against inflation. It would make sense for the more conservative population to be purchasing precious metals as compared to other commodities. I wouldn't say that it for certain but most of the younger generation tends to be more well versed in technology and are generally more willing to take the risks. I find Bitcoin to be more of a suitable investment as compared to Gold and if history is any indication, Bitcoin tends to fare well in the long term.
I hope that young Millenials can learn more details about bitcoin before they invest in bitcoin, especially for the bitcoin price volatility, because they can panic if they see the price move like a rollercoaster. They should know that bitcoin is not a safe haven because of the volatility, and if they can accept the up and down of the price, they can buy bitcoin at any price they want. But I admitted that the young Millenials have a big curiosity about something, especially if that is about new technology, and bitcoin is a new thing for them, making them search for other news to know what bitcoin is.
Similarly, if bitcoin started being bought up and stored for the long term, the amount of btc being transacted daily would be lower, and this would kind of defeat the goal of bitcoin to act as a currency.
Which isn't a problem. Regardless what percentage of bitcoin are locked up vs. being transacted with, what matters is that Bitcoin is being used both as a store-of-value and as a payments currency. People are going to use Bitcoin for whatever purpose they want to, and one of those is purposes is for SoV. We can't force people to use Bitcoin for a specific purpose(payments) just because it says "A Peer-to-Peer Electronic Cash System" on the whitepaper's title.
I don't know the reason why this issue is a bad thing to BTC??
I was thinking that with comparison to gold investing, investors usually buy and lock up gold for the long term.
Similarly, if bitcoin started being bought up and stored for the long term, the amount of btc being transacted daily would be lower, and this would kind of defeat the goal of bitcoin to act as a currency.
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This interesting article shows that during this ongoing pandemic, many investors are looking for a safe place to "park" their money. 67% of millennials are more likely to invest in Bitcoin than the conventional Gold asset class.
What are your thoughts on the reasons behind this statistic, why are millennials more likely to invest in bitcoin than gold?, and could this be a bad thing overall for Bitcoin?
What are your thoughts on the reasons behind this statistic, why are millennials more likely to invest in bitcoin than gold?, and could this be a bad thing overall for Bitcoin?
Simple, Millennials like technology rather traditional investment such as gold. They are aggressive too in terms of profit so its obvious that many millennial will prefer BTC over Gold since its a high risk high reward investment. Technology is evolving and people adapt on it so its not a shocking stats.
I don't know the reason why this issue is a bad thing to BTC??
This interesting article shows that during this ongoing pandemic, many investors are looking for a safe place to "park" their money. 67% of millennials are more likely to invest in Bitcoin than the conventional Gold asset class.
What are your thoughts on the reasons behind this statistic, why are millennials more likely to invest in bitcoin than gold?, and could this be a bad thing overall for Bitcoin?
What are your thoughts on the reasons behind this statistic, why are millennials more likely to invest in bitcoin than gold?, and could this be a bad thing overall for Bitcoin?
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