Precious metals remove all 3rd party risk.
Its funds held outside the system, no electricity, network or computer needed, totally anonymous if purchased privately.
Gold never degrades, spoils and will last for ever, bury a coin and dig it up in 100 years and it will look the same and still hold value.
Dont discount gold that has been a store of wealth for thousands of years just because crypto popped up a few years back.
May be a case of older and wiser over the young being smarter and knowing everything?
Topic: Why do older people like investing in Gold/Silver? - page 24. (Read 5280 times)
older or elders like that because that is the only thing or investment that they knew and they trusted it since the beginning and like us we trust bitcoin because it gives us profit when we invested on it right. So elders like gold and silvers because that's the only thing that they have.
most likely they are more comfortable to invest in physical form than digital. well, for sure, the risk of having a physical investment tool such as gold or silver has very little risk, and there is a possibility that the price will actually increase. Because they are more likely to see that their investment is definitely not going to be a scam. Bitcoin investment in metal product investment such as gold and silver is different. Bitcoin is a digital currency available in many ways, gold and silver have a stable price and price increases depending on demand and supply like bitcoin. More than the bad news that spreads today affects bitcoin so they prefer to invest in gold and silver.
They can be also scammed with those metals. There are 2 things I am thinking while reading the question it is 1st is the gesture on investing to the Physical mining company to harvest Gold or Silver. and then 2nd is purchasing those metals. well Old people are OLD they like old ways and they feel more secure to held the items. that is why they prefer this stuff.
older or elders like that because that is the only thing or investment that they knew and they trusted it since the beginning and like us we trust bitcoin because it gives us profit when we invested on it right. So elders like gold and silvers because that's the only thing that they have.
Older people preferred investing in gold and silver because it is already traditional for them and they can manage their investment much easier. Most of the older people now are not aware of the technology and they might not even know how to invest in crypto currencies.
- Yeah, old people always have very traditional thoughts, things are always in a certain mold, and they conveyed these old ideas to us, typically in gold and silver, these are very popular products in the past, bring a lot of profit and maintain for a long time. Therefore, nothing is strange when they like to invest in it, plus, as you say, older people are very technologically blind, they feel the technology is very troublesome and it makes them very upset, more precisely, they hate it and of course, they will not invest in it
I think that they perceive gold and silver as absolutely reliable assets. they grew and formed at a time when it really was so. In addition, understanding crypto requires minimal computer knowledge.
Older people are not used to investing on volatile investments, they are not as risk takers as the millenials. They believe that bitcoin and other alt coins are scam.They are more keen in investing on gold because its price is stable.
the reason people invest in gold or silver is because of the low level of risk and not only investment but can be used as jewelry so as to increase the wearer's prestige.
One of the reason why they are investing their money in gold and silver is they want to have an investment but they don't want to get into a high risk investment that could be the reason for them to lose a lot of money and that is the reason for them to just be putting money in gold and silver and they are not believing into cryptocurrencies because for them, it is a scam.
Maybe this is because people who are older or more alive than us prefer to invest in silver and gold maybe this is because gold and silver are better known to them than this digital currency and again they are more confident in gold and silver
or maybe they dont understand yet about opportunity that available in cryptocurrency market.if compare the risk, it have same big risk.but cryptocurrency provide more profit potency.They don't understand or do not want/need to understand, silver and gold have been the constants in their life.
Gold is a real item, and it's safer than investing in Bitcoin. Of course parents, whose knowledge of technology is lacking, brands prefer to invest in Gold. Let alone to invest in Bitcoin, just introduced bitcoin they will not believe.
Maybe this is because people who are older or more alive than us prefer to invest in silver and gold maybe this is because gold and silver are better known to them than this digital currency and again they are more confident in gold and silver
or maybe they dont understand yet about opportunity that available in cryptocurrency market.if compare the risk, it have same big risk.but cryptocurrency provide more profit potency.Maybe they never use bitcoin that's the reasons why they love to invest with Gold and silver i believe once they came to know about bitcoin they'll surely move to cryptocurrencies.
Also, bitcoin is not physically existed we can’t touch it and we invest online where we can be scammed easily.
Where Gold and Silver exists and we can touch it we give our own security on it.
Because they are more likely to see that their investment is definitely not going to be a scam. Bitcoin investment in metal product investment such as gold and silver is different. Bitcoin is a digital currency available in many ways, gold and silver have a stable price and price increases depending on demand and supply like bitcoin.they may have confidence that investing with cryptocurrency is very risky.they have been able to enjoy the benefits of cryptocurrency, they will divert some of their treasures or precious metals to be invested into cryptocurrency.
I think the older people thinking about the stability of the investment and they don't want to see their investment is up and down in everytime. besides that, they need safety conditions for their investment and they see that gold/silver can do this so far. maybe we can educate them about cryptocurrency so they can start to know cryptocurrency and they can move some of their money to invest in the cryptocurrency.
Older people preferred investing in gold and silver because it is already traditional for them and they can manage their investment much easier. Most of the older people now are not aware of the technology and they might not even know how to invest in crypto currencies.
Maybe this is because people who are older or more alive than us prefer to invest in silver and gold maybe this is because gold and silver are better known to them than this digital currency and again they are more confident in gold and silver
or maybe they dont understand yet about opportunity that available in cryptocurrency market.if compare the risk, it have same big risk.but cryptocurrency provide more profit potency. One of the reasons why people like to invest in gold in my opinion:
because gold is free of tax and administration
Property, Vehicles, Bonds, Shares, Artworks, Bank Interests and others are subject to various taxes and routine administrative costs. The more assets you have, the higher your taxes and your costs. Not to mention the cost of care, depreciation of property values and unexpected costs. But not with Gold.
gold is free of those costs.
I think from time to time the situation is now changing. Now I think that even old people are taking interest in bitcoin and that is very positive approach about bitcoin. I think that very soon we will see such people in trading bitcoin who mostly trade gold and silver. I think that very soon they will also start taking interest in trading bitcoin and other crypto currencies. because gold is free of tax and administration
Property, Vehicles, Bonds, Shares, Artworks, Bank Interests and others are subject to various taxes and routine administrative costs. The more assets you have, the higher your taxes and your costs. Not to mention the cost of care, depreciation of property values and unexpected costs. But not with Gold.
gold is free of those costs.
I'm not one who would invest in precious metals, but I have noticed that a good amount of the older generations are pretty keen in investing in these metals. They see it as a way to bet against the market, and a security that will always be safe -- even in the times of a market downturn/country failure as a whole.
I personally wouldn't even want to buy these metals in those events, as I don't see the reason to. I'd rather invest in securities that go up when the market shits itself (Payroll lending companies and so on and so forth)
Does anyone here know the reason behind people loving precious metals?
For older people it is so much easier to imagine something like gold which is having a price in itself, than to imagine bitcoin which is having an agreed price of people who are ready to pay for it, it is something too complicated for them to acknowledge. I personally wouldn't even want to buy these metals in those events, as I don't see the reason to. I'd rather invest in securities that go up when the market shits itself (Payroll lending companies and so on and so forth)
Does anyone here know the reason behind people loving precious metals?
I replied some time ago about it but for me it is easier than i thought, elderly people invest in gold/ silver cause it is material, they could touch the thing that they had put the money into, in crypto is different, they can't understand how something on internet could have a value of thousands of dollars.
Older people like investing in GOld/ silver, real estates and so on, may be because crypto currencies are a new topic for them and they will be skeptical in entering the network as it does not have any physical existence and fear of losing their money if they invest on a thing which does not have a physical form. Older generations are not tech savoy that may be another reason for not entering into the crypto currency market. I will not say that all the older people think alike as I know there are certain older generation who accepts new technology and are keen to learn new things and involved in the crypto currency network.
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