Why do older people like investing in Gold/Silver? - page 31.

realr0ach

sr. member

Activity: 924

Merit: 311

#TheGoyimKnow

Hilarious wording for the topic. The real topic should be:

Why are young people gullible and stupid and make believe it's possible to create a decentralized digital currency when it's not:

Quote from: realr0ach on July 28, 2018, 05:51:35 PM

It's not possible to create a decentralized digital currency. The transaction validators are always designed to centralize through interest, economy of scale, the bell curve's effect on integrated circuit creation, foundry startup costs, etc. The fact such a large amount of people actually claim bitcoin is "decentralized" who should obviously know better, only shows the willingness of humanity to lie in order to try and profit off the lie. So, yes, after all the lies eventually collapse like all lies do, silver and gold will be the only thing left standing.

alimatmo2019

newbie

Activity: 295

Merit: 0

Because of their experience, the experience in lives goes a long ways, they have invested while resulted in profit and viz-versa that result in loss, so investing in Gold is far much advantageous for the future.

meerkatoken

copper member

Activity: 42

Merit: 2

Actually the answer lies in the mid 40's. During and after the war recession declined FIAT prices in most countries. In those time precious metals, paintings, and other physical stuff were the only stores of value. Thats why there are so many stories about nazi's gathering all these from invaded nations.

Old people (in their 60's +) remember these days at least by hearing from their parents who were directly involved and might have suffered losses personally.

meritbygrace

jr. member

Activity: 153

Merit: 1

I think they don't really want this idea of fake ICO, and gold and silver are stable and is recognized by the government as legitimate all over the world. I would also prefer gold and silver when i get older.

StochasticOrder

jr. member

Activity: 63

Merit: 3

It used to be illegal to own gold for a few decades (started in the 1930s during the great depression). Therefore, for a lot of old people owning gold has a kind of psychological effect in that it was something forbidden for a large portion of their lives. Also, a large part of it is likely the enormous amount of commercials for people to buy silver and gold on TV channels that old people like to watch.

This is also a generation that has seen the value of the dollar plummet. One of the best marketing stories for precious metals I've heard is: "A quarter in 1960 could buy one gallon of gas, whereas a quarter today wont buy much. However, the silver in a quarter from 1960 would be worth about $3.50, or the price of a gallon of gas." It also comes down to volatility, old people are looking for a way to preserve wealth, not a way to get huge multiples and ROIs on their money.

Salala1

newbie

Activity: 98

Merit: 0

Most of the elderly people were not exposed to cryptocurrencies. They know little about cryptocurrencies and what they know best is those metals;gold, diamond, silver and the rest. This makes it difficult for the to have trust in crypto and most will not comply with the system too. They also consider how stable those metal prices are by comparing it to the crypto market.

SkvorNyc777

member

Activity: 308

Merit: 10

Swipe!

The answer is in the question. "Older" people usually have their own vision on valuable and reliable things, so it is not surprising.

billknight

jr. member

Activity: 197

Merit: 1

I think they prefer gold and silver to bitcoins. Gold and silver are used as jewelry for everyone. But Bitcoin is only used for payment purposes and can not be made jewelry. so, they choose gold and silver

BTC_MINER6

member

Activity: 77

Merit: 10

The price of gold and silver is stable and is recognized by the government as legitimate all over the world. Bitcoin prices are always fluctuating day by day and Bitcoins are sometimes prone to volatilization because of manipulated by the whale, so many older people do not want to invest in Bitcoin.

jack8989

member

Activity: 331

Merit: 10

StartFi

Quote from: Sithara007 on July 28, 2018, 01:48:10 PM

It's not surprising. I gifted a smartphone to my father 2 years back. But he refused to use it, saying that he is more comfortable with the old phone. In general, the elderly have an aversion to the new technology.

Agree with your comments. Older people prefer older technologies rather than new ones. They just want to use the things they are familiar with. I think that the more age, the laziness will grow faster

Masleo

newbie

Activity: 41

Merit: 0

Cryptocurrency in my opinion is a digital asset, just like gold but in digital version. When they (older generations) know of this concept, I believe many will switch to this digital platform. Now they see it not as a secure platform yet, and it is very human when they don't want to use this platform.

Vorzlave

newbie

Activity: 72

Merit: 0

Someone chooses something based on the knowledge and experience that he has
so when they only think gold is the safest, then they will choose it as a medium of investment. But when they have started to learn there is a new media that is more secure, comfortable and flexible (can make transactions whenever, wherever and in any amount) they'll change the way they see it (Cryptocurrency).

budiarmed

copper member

Activity: 381

Merit: 1

Quote from: squatz1 on July 09, 2018, 01:05:13 AM

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?

They are afraid of the risks of bitcoin investments, bitcoins have no physical and also have not received approval from the government, and therefore they prefer to invest in precious metals that have a physical form.

soname12

member

Activity: 266

Merit: 15

They simply found that gold and silver were safe assets and were never evaporated and manipulated like Bitcoin. Old people will not want to spend time learning about Bitcoin and blockchain technology

Smon

member

Activity: 271

Merit: 10

I guess they think that gold and silver are the metals that can never disappear on earth, so they want to buy gold and silver to use as jewelry and make their property. I think this is the right choice of the elderly

memecoin

member

Activity: 308

Merit: 10

★YoBit.Net★ 1400+ Coins Exchange

My parents also say that they only like to invest in gold. They think Bitcoin is just a virtual currency and has no value and they will never invest in Bitcoin. Though their thinking is old-fashioned. But I still think they should invest in gold will better than investing in Bitcoin.

rez303

member

Activity: 338

Merit: 10

StartFi

Because they do not know about the appearance of cryptocurrency. Currently, cryptocurrency is only common among people aged 10 to 50 years. Most people over 50-year-old are unaware of Bitcoin and altcoin. So they still to buy gold and silver

kolsernik

sr. member

Activity: 722

Merit: 258

First, not all older generation knows something about cryptocurrency and ICO.Secondly, trespassing into precious metals is the right solution for keeping your savings.Look how many currencies have suffered inflation, and countries have become defaults.And the money just turned into wrappers that cost almost nothing.And precious metals at any time under any government will have value.So the elderly are wise people Cool

yulchatar

full member

Activity: 910

Merit: 100

Our parents, grandmothers, grandfathers trust in precious metals, in particular, gold because they are afraid to be deceived. At least in my country, the national currency has depreciated several times and changed to another one. People had huge accumulations that simply "burned up." Therefore, since that time they are accustomed to stocking up gold in order to have at least some kind of insurance for their life.

Sithara007

legendary

Activity: 3276

Merit: 1352

Leading Crypto Sports Betting & Casino Platform

It's not surprising. I gifted a smartphone to my father 2 years back. But he refused to use it, saying that he is more comfortable with the old phone. In general, the elderly have an aversion to the new technology.

Topic: Why do older people like investing in Gold/Silver? - page 31. (Read 5247 times)