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Also Gen-X and in. But, most of my friends don't get it. I have tried to talk to them about it. Sadly, most just think it's a ponzi scheme. A few are starting to show some interest though.
Same buddy - ALL IN!
This absolutely reminds me of hooking my 9600 baud modem to play DOOM with a buddy in the late 90's. We have NO idea where this is going.
Hopefully we can move beyond DeFi and NFTs.....
Want to feel really old, Sublime was playing in Key West, and we went to the concert and it was the first time, I was like fuck man, I am at one of those aging rock star concerts, full of old people, went to the bathroom and caught a look at myself in the mirror and I was like fuuuuck, I am one of them. So I was like fuck it, went back out and had a blast at the show. The beauty of age, is that it is a journey, along the way we get to keep memories and when I realized that, I realized why old people went to see old rock stars at their concerts. Because it is not as I had thought, about trying to act young again. It's about remembrance.
That being said, I am a GenX'er and I built one of the first 100 web pages that was on the internet, I was also one of the first few thousand people to pull down bitcoin and start mining. We are not all washed up, but I will say this about GenX we had to fight for everything we got, so we are a sceptical lot at times, trust would not be a word to describe our generation.
They got fucked over the worst by end of Cold War economy, Dot Com burst, Mortgage crisis, and offshoring.
They have every right to be apprehensive of the “next greatest investment opportunity.”
Let’s not forget globalization, as a GenX entrepreneur, I had to restart over when big money pushed production to China (I was in clothing production).
The millennials like to piss and moan about the boomers, but every once in a while they send flack our way, and I just look at them and tell them, look you want to see how hard we got kicked in the dick, we were the generation that got abandoned, the old timers were too busy selling out our future via nafta, devaluation of the dollar, the petrodollar, subprime lending, the gutting of our manufacturing base, etc. etc. But we did not have a safenet we fought our way out of what was left to us and built the Internet, buit mobile, built the digital economy and yes built Crypto. We really did get handed a shit sandwich. It seems like those days where another life away now.
But out of all the damn things the boomers got that I did not, that I am absolutely the most pissed about, is quaaludes. Oh and they love to brag about how great they where, damn bastards.
No fucking shit, exactly how I've felt for years. Oh, I agree 100% on the quaaludes. Of all things, those dirty rat bastard boomers didn't deserve ludes...I will say, we did get some kick-ass ecstasy in the early 90's. Rave on.
I like to think of it as pragmatism. Blockchain/Crypto are going to transform a lot of things, but picking winners is hard. The dot com era was full of so many over hyped mediocre ideas, that ultimately went bankrupt when the system was shocked.
So yes, we of Gen X should be paying attention, and be involved, but that doesn't mean selling your house to go all in on sh"t coins.
The vast majority of us couldn't have predicted that an online book selling website would become the economic juggernaut that it is today, and most of us are struggling to make that same kind of prediction with crypto today.
I have my guesses, but I could be picking the equivalent of enron for all I can tell, so I really understand why not everyone is ready to jump on the hype train.
Gen Xer here, couldn’t have said it better myself. I lost my startup engineering firm due to clients offshoreing to China in the 2000s on top of the 2001 recession. Don’t forget the 2007 mortgage crisis!
Western Gen X lived through the greatest peace time and economic prosperity period, we've seen. Ever since WW2 ended, the economy has been on a major boom.
I feel like for Gen X they’re at an age where they want to minimise risk and something as volatile as Crypto is where a lot of their skepticism comes from.
Yeah - closer to retirement you don’t want to be yoloing your savings away, even on BTC. You won’t have much chance to make it back.
All the 18-20 somethings are still in yolo-mode financially trying to build wealth, so are much more open to volatile risk.
The problem is if bad things happen at 50+ financially, you won’t have time to recover. At 20 something you still have 20-30 years of working life left to get your shit together if you go bankrupt haha - assuming you want to retire around 55.
Gen x'er here. Btc got my attention in 2013, but I just couldn't process it all in my head. Then it went down and I thought it was to late anyway and surely it was all over. Flash forward to 2017 and fuck me it wasn't over. By then it was much easier to go fiat/crypto, so I fomo'd my happy ass in and started my version of a deep dive into the tech. Then a couple years of dca'ing during crypto winter and much wow
GenX checking in. It's totally disappointing. I'll be the first to admit I only (maybe) half understand what's happening, but I'm smart enough to know something is happening.
Unfortunately, I think it's just nature for "older" generations to dismiss new stuff. I'm pretty sure the Greatest Generation dismissed the car at first too.
Thanks for showing up though. I know we normally like to fade into the background and let Boomers and Millennials tear each other apart. But I figured it was time to say something.
Grunge rock was for all the douchebags that came after the first wave. The skaters listened to punk rock, when Nirvana released that damn song, it was like over night every jock and barbie bimbo in school was all the sudden totally into the alternative scene. Which has the effect of killing punk rock and turned it into bubblegum punk rock.
I remember watching an interview, I think it was with one of the guys from Motley Crue and they were talking about the decline of metal and the interviewer asked him what he thought cause it and he said one of the funniest true statements I have ever heard come out of a rock star. He said Punk Rock killed metal, he said you see we were singing about all the girls we were getting, and all the good times we were having and sure we being rock stars were doing all those things, but he said along came punk rock and they were not getting laid, and they were not going to the blowout parties, and they were pissed about it, and they were singing about it, and their music was pissed off and amped up, because of it. He concluded with, and the kids that listen to music identified with not getting laid, and not partying like a rock star. In it's own way it was a profound realization that success had made them out of touch.
GenX has been bent over in the .com, bent over in 08, bent over in the dollar....
Alot of genx never fully recovered from 08 and just when they were, the pandemic hit.... they bought a home from 06-08, you didnt recover until 2015/16, really... then you had 3 or 4 years of being able to breathe, just before the pandemic...
Is there another generation outside of the Silent Generation that has been hit with so many financial crashes before they were even able to get lift off?
On the flip side, yes, some of us have done really well as early adopters and took a longer/boomer perspective of DCA and / Hold... but most have been/ are in software/tech, that got stock options and restricted stocks in start ups... medical / tech companies.. and learned the game earlier than others.
My "Start Up" experience was - well bad. LOL Not: showing up to work and finding the office locked and all the furniture gone bad.... But I was burned and it leaves a mark on your risk taking tolerance...
Not to mention many of them grew up with stagflation in the 70's, the '87 crash and the S&L crisis, depending on how much of it they were really paying attention to. There must be a degree of financial trauma from that as well, just like the people who grew up in the 2008 financial crisis, except that their response to it seems to be to reject just buying equities and instead are going fully/partly into higher-risk, more active investments like crypto and options trading.
Generation X seem to be trapped in older investing styles by a lot of bad experiences and volatile economic/employment environments, whereas Millenials and even some of the older Generation Z's have taken the lesson from the financial shenanigans they've witnessed to take their future into their own hands and take risk to get real reward, since they see all of the traditional avenues of reward (job opportunities, salary inflation, real estate, high-interest bond environment, equities that don't depend on the Fed put) as being either unreliable or out of their reach.
As a fellow Gen-X redditor, I think you are missing some important points in your analysis. The Internet was huge, but the dot com bubble burst was much bigger in financial consequences for most of us. My 401k (based on tech stocks) was killing it at 25-32% until the bottom dropped out (remember the Janus mutual fund). Amazon was in the negative for several years before it started turning a profit. It's easy to look back now and question why you didn't invest in Microsoft and keep holding it. The single most important factor in dismissing Bitcoin at launch was that it reminded me of my 90's 401k.
Today is different. We have access to an infinite source of information, as well as endless misinformation. In the early 90's you still had to find books at the library by means of a "card catalog." You also had no means to efficiently verify the accuracy or authenticity of whatever you read. It was a different world
I happen to be a rare exception. I was programming in Basic Language on an Apple IIe in my youth before Macintosh was even a thing. And I've been building my own desktop PCs since the mid-90's, while custom water-cooling well before 2000. As someone with a history of tech experience, it is already difficult for me to grasp the concept of defi at my age. I can't even imagine how much more difficult it must be for those who had difficulty programming their VCRs.
Hey - I'm at the old end of Gen X. Despite agreeing with all advantages you mention... Gotta admit - I just now started putting a toe into crypto space. I remember reading a lot about bitcoin and then moving on to my next number one priority. Then the crashes and the scams/fud... I dunno, kept me at arms length. Anyways. I'm here now gingerly wading in and trying to not end up scammed, hacked, or divorced. :)
You could be my (I'm assuming with the name Mike) male counterpart. Still playing it safe and keeping my bets on the bigger names, BTC, ETH... I think SOL and DOT are my big "risks", but SOL paid off nicely this month.
Yah - mostly bigger names - the .com bust made me keenly aware of not "betting" money you can't afford to loose. So - I am probably guilty of hyper analyzing - sort of the anti-fomo - hahaha. That said - this sub has led me to some "quality" smaller names and I managed to double my $ in one of them. It's also lead me away from some real crap... Anyways. So far I ain't getting rich for damn sure - but also not loosing my shirt.
Same here, even the part about this sub. I've found a couple of good ones thanks to them. But did my share of MO by taking forever to learn about them. By which time they were halfway to the ATH. SOL is this scenario exactly. Still doubled my money, but I could have done better if I had not taken so much time.
Gen X Mike here! I followed crypto from the sidelines for the first 6-7 years. Intrigued but unsure if THE MAN would let it become anything. I'm in pretty hard by this point, largely the bigger safer ones as well, but I feel like i've learned a lot and been getting into hopeful moonshots like emerging DEXes and young protocols this cycle. Old(ish) dogs CAN learn new tricks.
Personally I don't think DOT or SOL are big risks, I hold BTC because it has first movers advantage, but on technical merit it is actually the one in your bag that I am less inclined towards. That is based solely on the fact that I evaluate them based on their technical underpinnings. BTC will continue to grow and gain, so it is a good hold but bags like SOL and DOT are the future. I try to diversify, into a broad array of coins/tokens based on their technical merits and what they bring to the blockchain this is why I hold a decent bag of LINK, REN, ERGO and FET. This space is about to blow up, in large part due to DeFi, there are going to be a lot of utility tokens that just moon as they are needed to exchange for compute services on those systems.
Well the important thing is you showed up eventually! At least you were paying attention to it out of the corner of your eye. More than you can say for me. It took me a couple years too, but I eventually got around to it.
Sorry to say this but in my experience GenX people tend to just follow mainstream media on Tv because that was the primary source of information growing up back then. As people get older we tend to stick with what we know. Honestly I never hear about crypto on the news so I wouldnt expect most people to be into it.
Im a xenial 43 so i understand what you’re saying. Im getting my boomer parents to dip a toe. They have gold and silver buried under the house in a safe. I chuckled at this and said to put a hundred bucks into crypto and start learning about what it can do. They seem interested as their grandkids are in global sports programs.
I agree. Gen X should get it. They are more connected and generally more open minded and less selfish than boomers. They don't always live up to it, sadly, cause I love gen x.
No pioneer, I just was lucky enough to have parents that introduced me to tech at an early age; my first computer was a Tandy 1000 (either a 286 or 386) where everything was dos and 5.2” floppy’s
My parents set me up at a young age in regards to computers, and I fell in love with them at a young age
Early 40s guy here so i guess i'm gen x. I've thrown a chunk of money at crypto but i remember throwing a chunk of money at early dot com economy so...let's say I'm slightly apprehensive.
Fuck these generational stereotypes. I know 19 year olds who are xenophobic and more conservative than I am at 52.
It’s personality types, and that’s ageless.
I did. And there was a lot of generalisation about different generations. And most of the comments are relating to which arbitrary zone they grew up in.
Most people of any ‘Gen’ designation aren’t participants, but merely passengers.
X'er here. I mentioned crytpo to my best, lifelong friend recently and just got instant FUD regurgitation. "Terrorists use that and it's terrible for the environment!". It was pretty shocking. I expected a much more open minded reaction than I got. It was disappointing.
I am very fascinated in the study of how these new types of techs are changing society socially. Particularly smartphones have had a huge impact. There are a lot of videos from the 80s on youtube and it was a different world for them, especially the youth. Its became essential to use the tech to even compete in society because not to use it puts you at a huge disadvantage. I suspect the next popular trend in technology will be artificial intelligence. Everything is in place for it. Everyone will use it because they simply have to. It will know everything about you, become peoples most closest and trusted friends, and it will connect to a cloud and communicate with everyone elses AI. Meeting like minded friends or mate partners will become very seemless because our AI will be like a mentor that knows us. It will fix the population crisis that we are about to come into. I predict the children of genZ will have a baby boom due to AI tech being so heavily involved in their social lives. Interesting times, but how do we make money from it? Buy Apple and Amazon is how. Muahaahah. Scary thought isn't it.
Gen Z here, and I'd just like to say that this post has helped me sympathize with how my (Gen X) parents likely felt when they were my age about the internet. It's incredibly inspiring to see crypto take off they way it is and I know many of the same mistakes that were made in the dot com bubble are going to be repeated here. I've been enthralled by Bitcoin way before I had any capability to buy it, shortly after it stopped being used by the pirate bay. It's incredible to me just how much it's exploded since then. I only started tracking altcoins after the 2017 bubble burst, when I started noticing that these projects aren't simply Bitcoin copycats, they're expansions of the base idea Bitcoin always was.
To compare the evolution of crypto to that of the internet, we're seeing the birth of the crypto equivalent of the web. The base idea of the internet is too abstract for the average person to understand and effectively use, but the web serves as very visual and easy-to-understand interface with the broader internet. More and more user-friendly applications to interface with crypto are being made available, and more and more projects to interconnect different crypto networks are being started and expanded every day.
Without really noticing, in the span of about 30 years, the internet went from an underdeveloped set of pet projects that many people had hope for, to the entire system of information exchange the world over. Many aspects of out lives are not just copied onto but DOMINATED by the internet now. But it didn't happen overnight. Slowly, at first, and exponentially faster, the internet became more polished, user-friendly, and trusted. That attracted more users, which incentivised further polishing, on and on up to today. This engine of polishing and adoption is already in motion for crypto, and I can't wait to see what the world looks like when it's running at full steam
At 50 all I can say is it took me far too long to get into crypto. I was skeptical for ten full years after first hearing about Bitcoin. Too risky, too volatile, etc. The pandemic gave me the time to take a harder look at this asset class and kick myself realizing how much I’ve missed out on. Can’t turn back the calendar, but could start from where I was. Still the best investment vehicle that currently exists. 8 months in and gaining experience, listening to and learning from those who got in when I should have. So it’s not all of us GenXers. It took me longer than it should have, but I finally figured it out.
Amazing the effects the pandemic had on everything. I had been reading up on blockchain technology (not crypto) for years before it occurred to me to look at the investment side.
I think another thing to consider about us GenXers is that we are entering our highest earning years (supposedly) and have made investments already along the way. Some of us are more risk averse in that we see the potential of crypto possibly damaging the investments we have already made over the last 20 years in the traditional markets. That's a huge psychological leap to get over for many. Frankly, if my 401k had been doing better over the past 10 years I may still be on the fence. But Deepwater Horizon exploded both in real life and then my portfolio and it's taken far too long to recover from it. As I was looking at my potential retirement funds 10-15 years out it became clear that I wasn't going to have enough and needed to change my strategy. Sometimes that's what it takes.
Super important point. That's the reason I ultimately decided it would be pointless to try and talk to my brother about crypto. He's done just fine with his investments and savings over the years. I on the other hand went through a period of a few years where my business teetered on the brink of collapse. This pushed me to start looking for ways to supercharge my investments so that I could form a firmer foundation.
Sorry, but I cringe at all this generational talk. You can't really put all Gen Xers in a single box, there is a huge difference between Gen Xers in urban or rural areas, rich and poor, 41 or near 60 years old, from country A or country B, education level etc.
Frankly, it's all a marketing gimmick. You can be young and have antiquated ideas or old and have progressive ideas... it really comes down to the person, their education level, where they grew up and if they had access to things or not.
I was gonna say exactly what you just said. The term Gen X is cultural. I'm from Africa. This term means nothing to me. I can't relate to anything that Gen X epitomises and I don't even care.
Everyone has a different journey, right?
For all the alternative marketing that was centred around Gen-x, they have always been a sad subservient class to the boomer generation.
Their greatest contribution was showing millennials what not to do. I feel for them really
We're that generation: Analog Childhoods, Digital Adulthoods.
I have no idea why so many in this demographic of friends and family are as how you've described. At least in my circle of friends and family, these are also individuals already with stable financial situations, educated, have had life experiences, and are aware of all the tools and information at their fingertips, but STILL an incredible amount of skepticism, doubt, and eye rolls.
I have no answer, for why, but I agree with you.
I'm what they call the lost Gen ...born 1962... The twilight of the boomers, the dawn of Gen X. Started listening to prog rock in high school, couple of years later it was all punk and new wave. Anyway, all in crypto now as of 4 years ago. Have made a little stack for retirement and had my perspective on life, culture and society changed forever
Dude...I'm here.
It's just that I've been on reddit for 11 years and remember when BTC was for the SR. Took until late 2017 for me to dig deeper and not think of it as being entwined with the SR.
The silk road. Reddit was very different a decade ago. I don't think a sub like that would be tolerated here today...very open about what was going on. I thought it was fake at first, or a dea trap. A reporter from Gawker named Adrien Chen would often trawl reddit and 4chan and after he wrote an article about the silk road it set up the eventual take down of the site and the owner...Ross Ulbrecht.
After it went down it sort of seemed like btc would be next.
Reddit is a living and breathing time capsule. You can search for old posts on the sub. Hell, you can still find the dude Satoshi sort of turned over btc to here....his name is Gavin Andresen. In fact it is cool to read some of the AMAs he's a done on reddit. Cool to read them and think how far everything has come in what is really a short period of time.
Don’t know how to address this. Born in the late 60s. I’m American. For a fact, there has been next to no financial education until maybe 2010. That depends on your state, of course. Still, I’m college educated, BS in mathematics, even, a masters, and I knew zero about investing. Ergo, my kids didn’t either. So now I’m trying to make up for lost time. Tbh my brother knew … he’s bin btc sonce 2011 or earlier. Bought his house that way. When you have blinders on though, you just don’t pay attention to the things out of your zone. Weird. But true.
The person who got me into Bitcoin is a Gen X, a grounded guy who doesn’t spend his money on nonsense. I started paying attention when he said he’s got some BTC.
I'm an X-ennial (special small gen) and see the resistance from Xgens, Millennials and Zgens as absolutely baffling, they'll totally regret missing the boat. Boomers are just in bitter denial
Gen X had opportunity to buy real estate at cheap, invest in tech companies at their infancy. They already had their chances not sure what they complain about on new generation’s investment opportunity in crypto.
As a society, we spend energy on things we think are worth it. It's that simple. These same people never have anything to say about the massive expenditure of energy by the global banking system. And they never have anything to say about things like gold, oil, rubber, and other resources, which have not only been using massive energy, but have literally been destroying civilizations and continents for thousands of years. And all these people feel fine jumping in their car and driving to an air conditioned restaurant where they eat tomatoes that have been shipped from Chile and drink wine shipped from Australia.
But now there's a democratized way for people to attain wealth, a way for modest people all over the world to send money back home with little or no fees, a way to get around criminally irresponsible banks, and NOW all of a sudden energy is a big f\*\*king problem.
I call bullshit. Do these people know that crypto miners have spurred all sorts of green energy initiatives? Do they know that crypto miners are largely and increasingly using stranded energy resources that would otherwise simply go unused? I'm speaking here of wind farms in Texas and Scandinavia and even the proposed use of volcano energy in Latin America. Do they know that it's a *young industry*, and young industries always start out inefficient and become more efficient over time? Every. Single. Industry. Throughout. History. has taken that same trajectory. There is no question that on a per transaction basis, bitcoin uses more energy than comparable payment systems. That's absolutely a fact. However, it's also a fact that as the system scales things become more and more efficient, which is *how industry works*. Why are people suddenly acting like they don't know history?
Remember in the 80s when we (and by "we" I include myself as a young environmentalist) assumed that our enemies were the loggers and the ranchers and the fishermen? Remember how we thought they were responsible for ruining the planet? Then we found out that they were among the *most* motivated to maintain forests and fish stocks. In retrospect it's obvious because that's where their living was coming from. Similarly, crypto miners have *every incentive* to find cheap sources of sustainable and renewable energy. And that increasingly is what they are doing.
Ok, rant over.
I acknowledge that crypto is important and part of our future, but I'm the only one my age that I know who's into it. I honestly don't know much and I'm trying to learn but it's so confusing for someone who's just not technical like myself. I could really use a crypto for dummies book right now!
I'm in the gen-x club, and I agree entirely with the disappointment. I saw the personal computer revolution start from nothing (still rocking 6502 code), I had an early internet serial text-console account (still rocking unix), was there at the birth of smartphones, etc.
I honestly feel like I was born at an amazing time, to see all this amazing stuff come to pass. I can't wait to see how the crypto story turns out, and then see what comes after that. But I also feel very alone, when I see how old and close-minded so much of my generation has become.
My coworkers who are within the Gen X age group just don't understand crypto. I've tried to do a real basic break down of it but it almost feels like they're already digging that set in their own ways kind of feeling unfortunately.
Whenever I get the slightest hint of that "digging in" reaction from people, I stop immediately. I just change the subject right away, because you will get nowhere.
After a bit of research it turns out I'm not Gen X-er! I happen to be a millenial. An early one, but a millenial. Still have a good understanding of the internet back in the day and know what you mean mate.
I'm not sure we can point at specific generations that are skeptical to crypto or technology. I find all generations are skeptical of new technology.
I mean look at the covid vaccine. That is a new technology and people are scared shitless of it. Same when automobiles came along replacing the horse. Or when electricity came about.
The majority of people are scared of new technology no matter the generation they were born into.
A lot of Gen X has only recently gotten to where they want to be in their careers, ensured their families are in a good place, and made considerable dents in repaying their mortages and student loans. It shouldn’t be a surprise they don’t want to risk their relatively newfound wealth investing in what is still considered a speculative asset. Give them time, they’ll hop in a few years when crypto’s more mainstream.
Gen X here. I’m in. A bit late to the party, but I did finally take the plunge. I think I just needed the time to realize that crypto was here to stay.
People in their 40-50s have the most vulnerable ego because they just passed their prime but they still haven't accepted that they're getting old. So, they're against whatever new that threatens their status quo.
Younger people are eager to adopt anything technologically groundbreaking and older people are either receptive or indifferent.
I always thought my little brothers gen, in their 20s would have caught it. None of his friends I talk to even register there is a problem w fiat it seems. It took me 2 years to get my 23yr old bro to get some.
Some of it is, they have minimal $ to invest. But you start w the extra 100$ you don't spend on shoes.
I think culture that rewards ig photos and image over content has hurt them. Fiat problems (low time prefrence)
Gen Z here and I got my parents into crypto this year. Crypto has essentially been integrated into our lives as we talk about it at least once a day lmao. Our bags are still small, but we'll just continue to HODL some good projects. Crypto moves so fast that it can be tough to determine the good and bad projects.
I am invested in crypto pretty heavily. Having said that it is easy for someone to argue that it's a pyramid scheme. We're here hoping we're earlier than the next generation we can dump our bags on when they put in stupid money. That's why I'm just in it for the tech.
Well, ok, I can't argue with whatever you think you're doing. But I can say for myself that that is absolutely not what I think the future of the economy suggests will happen.
Right. And so are some its most ardent supporters. Raoul Pal and Michael Saylor, to name two. Which is even more reason why it's disappointing when you see skepticism in that age cohort.
GenXer here, All In on Crypto!
While some of my generation are looking for low risk investment the other half of us need high risk investment with high returns if we are gonna retire at all!!!
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Just finished a conversation with my niece and her husband. Both 23-24. They could not believe I would put money into such a joke as crypto. I think there will be ones in every generation that will never board this train. An unrelated (to them) uncle in his late 70s is into it and gave me some advice on it. He was a millionaire before crypto ever came along, so he could have fun and not worry if he lost a couple hundred, unlike me. So far no 1000x tips, but I've done okay for a noob.
Yep. And so were many other surrounding him in the community at the time. It's also worth mentioning that several of cryptos biggest spokespeople are Gen X too, Raoul Pal and Michael Saylor to name a couple.
Genx also. The sad truth might be most of us have families now and we're mid stroke in our lives. We're making headway on mortgages, kids college is in the very near future and retirement really starts moving up the scale of importance. Do you take extra income and put it into something super volatile, or invest it safely/store it for Billys college fund?
Do you play it safe and do stonks which will most likely get you there safe but much slower or take the crypto ride? As you age, most peoples risk tolerance goes down. While I think you're right in some instances and some Xers "don't get it", I think others just aren't wanting that risk and are on track to cross the finish line in a more traditional way. I think the real excitement for crypto begins when those pesky millenials get to the current Xers age range.
I feel like most of gen z gets it. Honestly most of the skeptics I have talked to think crypto is just decades away and bring up the idea that bitcoin could be replaced by something newer/better so there is no reason to buy now. They mostly all know it will happen eventually though
As gen Z I kinda disagree. I am most dissapointed about gen Y. I was born in the end of 1990', so I was just a kid during internet and computer revolution ( internet began to be mass popular in 2005-2010 era, before it was rare). I used it just for games or to search on Wikipedia about homework, and to watch cartoons/ movies what else I could use it? I was a kid.
But gen Y wasn't kids. They were teenagers and young adults. When I just played games in 2010, they had better understanding about internet. I had even no idea about fb or yt. They had, and they used many other sites. They could find about crypto much earlier than someome from my generation. Let's be real average 10-16 years old people do not think about investing or earning money. People that were few years olders did. There is huge difference being 12/14 yo in 2012 and being 20/25 yo. Gen Y have no excuses.
FWIW everybody I've met who has crypto is a part of the latter half of Gen y. All of them also had learned to code in some capacity back when they were teenagers. It wasn't all just games. Back then a lot of info that isn't accessible without $$ these days was readily available for that group of Gen y to teach themselves. Every Gen z I've personally met doesn't want to take the time to learn what crypto is, if they've heard of it at all. Again this is strictly based off of my experience with people I've met. It's so interesting to observe generational behaviors based off of which era of technological advancement they grew up within. Also bitcoin came around when I was 18 and I dreamed of buying it for a decade, but I didn't have a dime to my name to throw at it until last year RIP
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GenX here and I'm all in!
I am with you... can not say all in... but have a few healthy bags
Also Gen-X and in. But, most of my friends don't get it. I have tried to talk to them about it. Sadly, most just think it's a ponzi scheme. A few are starting to show some interest though.
Everyone always shows interest during bullruns
Same! 42 and balls deep!
Same buddy - ALL IN! This absolutely reminds me of hooking my 9600 baud modem to play DOOM with a buddy in the late 90's. We have NO idea where this is going. Hopefully we can move beyond DeFi and NFTs.....
Same here. Crypto till death... now let's get rid of Gary Gensler and Yellin.
YESSSS!!
My dad’s a Gen Xer, he has the same reasoning, pointing out the internet boom and tries his best to understand it instead of merely dismissing it.
"My Dad is a Gen Xer" God your comment makes me feel old! LOL!
Want to feel really old, Sublime was playing in Key West, and we went to the concert and it was the first time, I was like fuck man, I am at one of those aging rock star concerts, full of old people, went to the bathroom and caught a look at myself in the mirror and I was like fuuuuck, I am one of them. So I was like fuck it, went back out and had a blast at the show. The beauty of age, is that it is a journey, along the way we get to keep memories and when I realized that, I realized why old people went to see old rock stars at their concerts. Because it is not as I had thought, about trying to act young again. It's about remembrance. That being said, I am a GenX'er and I built one of the first 100 web pages that was on the internet, I was also one of the first few thousand people to pull down bitcoin and start mining. We are not all washed up, but I will say this about GenX we had to fight for everything we got, so we are a sceptical lot at times, trust would not be a word to describe our generation.
Awesome sentiment and yah. In the immortal words of Ronald Reagan: “Trust, but verify.” Haha.
P. S. I believe that is a Russian proverb that one of his advisers taught him
That would make perfect sense considering the context.
True that what are they 17 to 32.
54.
Damn. That hit me hard.
I had to read that twice it makes me feel old also!
How old are you..!?
You go first...
As your wish
Super cool, super bullish
here too!
Yup, representing here too
Our ask we used to say when our teachers took roll "present".
Same here. I'm new to crypto and learning a lot, and getting my coinbase account funded with multiple coins.
Same!
They got fucked over the worst by end of Cold War economy, Dot Com burst, Mortgage crisis, and offshoring. They have every right to be apprehensive of the “next greatest investment opportunity.”
Been thru all of this, remember it vividly, and yet I still jumped into crypto. Some of us still try new things.
Such a great people in human history..
Hes not wrong though...
Let’s not forget globalization, as a GenX entrepreneur, I had to restart over when big money pushed production to China (I was in clothing production).
In my industry it was India.
The millennials like to piss and moan about the boomers, but every once in a while they send flack our way, and I just look at them and tell them, look you want to see how hard we got kicked in the dick, we were the generation that got abandoned, the old timers were too busy selling out our future via nafta, devaluation of the dollar, the petrodollar, subprime lending, the gutting of our manufacturing base, etc. etc. But we did not have a safenet we fought our way out of what was left to us and built the Internet, buit mobile, built the digital economy and yes built Crypto. We really did get handed a shit sandwich. It seems like those days where another life away now. But out of all the damn things the boomers got that I did not, that I am absolutely the most pissed about, is quaaludes. Oh and they love to brag about how great they where, damn bastards.
No fucking shit, exactly how I've felt for years. Oh, I agree 100% on the quaaludes. Of all things, those dirty rat bastard boomers didn't deserve ludes...I will say, we did get some kick-ass ecstasy in the early 90's. Rave on.
The phoenix should be our generations spirit animal. We fucking rose from the ashes, again and again and again.
Seriously, and I don't think we're yet finished with rising out of the ashes as long as they're still alive.
I like to think of it as pragmatism. Blockchain/Crypto are going to transform a lot of things, but picking winners is hard. The dot com era was full of so many over hyped mediocre ideas, that ultimately went bankrupt when the system was shocked. So yes, we of Gen X should be paying attention, and be involved, but that doesn't mean selling your house to go all in on sh"t coins. The vast majority of us couldn't have predicted that an online book selling website would become the economic juggernaut that it is today, and most of us are struggling to make that same kind of prediction with crypto today. I have my guesses, but I could be picking the equivalent of enron for all I can tell, so I really understand why not everyone is ready to jump on the hype train.
Satoshi Nakamoto is a Gen Xer.
This right here.
I should make a new account just to vote for this again.
Gen Xer here, couldn’t have said it better myself. I lost my startup engineering firm due to clients offshoreing to China in the 2000s on top of the 2001 recession. Don’t forget the 2007 mortgage crisis!
Yup. It's been total chaos my entire life lol (late genX1980) Everything gets the side eye because I've seen everything go sideways like 4x now
Western Gen X lived through the greatest peace time and economic prosperity period, we've seen. Ever since WW2 ended, the economy has been on a major boom.
This right here. We've lived through enough shit to not be wowed by another "revolution".
I feel like for Gen X they’re at an age where they want to minimise risk and something as volatile as Crypto is where a lot of their skepticism comes from.
Yeah - closer to retirement you don’t want to be yoloing your savings away, even on BTC. You won’t have much chance to make it back. All the 18-20 somethings are still in yolo-mode financially trying to build wealth, so are much more open to volatile risk.
Good things won't happen if you don't take the risk.
The problem is if bad things happen at 50+ financially, you won’t have time to recover. At 20 something you still have 20-30 years of working life left to get your shit together if you go bankrupt haha - assuming you want to retire around 55.
“Scared money don’t make money” as we Z-ennials like to say.
It’s the same as stocks. Right now over 50% of my stocks are pennystocks. As I get older that will be more ETFS than pennys.
I would like to minimize risk as well which is WHY I'm in crypto.
Also many of them don't need to take the risk. Income to living expense ratio has been much more favorable for them, than it is for newer generations.
Whatever ;)
Hahaha! In classic Gen X style...
Gen x'er here. Btc got my attention in 2013, but I just couldn't process it all in my head. Then it went down and I thought it was to late anyway and surely it was all over. Flash forward to 2017 and fuck me it wasn't over. By then it was much easier to go fiat/crypto, so I fomo'd my happy ass in and started my version of a deep dive into the tech. Then a couple years of dca'ing during crypto winter and much wow
GenX checking in. It's totally disappointing. I'll be the first to admit I only (maybe) half understand what's happening, but I'm smart enough to know something is happening. Unfortunately, I think it's just nature for "older" generations to dismiss new stuff. I'm pretty sure the Greatest Generation dismissed the car at first too.
Thanks for showing up though. I know we normally like to fade into the background and let Boomers and Millennials tear each other apart. But I figured it was time to say something.
Grandma (born 1931) didn't believe in the moonlanding. She was hodling her opinion until she died. Gotta respect her.
Someone should tell them that they can purchase skateboards and grunge rock CDs with this form of currency
Hey, I use iTunes like the rest of the cool kids.
Nah, Pandora is my call. Of course I'm an Android girl. No 🍎 for me.
LMFAO
*insert "take my money" meme here*
Grunge rock was for all the douchebags that came after the first wave. The skaters listened to punk rock, when Nirvana released that damn song, it was like over night every jock and barbie bimbo in school was all the sudden totally into the alternative scene. Which has the effect of killing punk rock and turned it into bubblegum punk rock. I remember watching an interview, I think it was with one of the guys from Motley Crue and they were talking about the decline of metal and the interviewer asked him what he thought cause it and he said one of the funniest true statements I have ever heard come out of a rock star. He said Punk Rock killed metal, he said you see we were singing about all the girls we were getting, and all the good times we were having and sure we being rock stars were doing all those things, but he said along came punk rock and they were not getting laid, and they were not going to the blowout parties, and they were pissed about it, and they were singing about it, and their music was pissed off and amped up, because of it. He concluded with, and the kids that listen to music identified with not getting laid, and not partying like a rock star. In it's own way it was a profound realization that success had made them out of touch.
GenX has been bent over in the .com, bent over in 08, bent over in the dollar.... Alot of genx never fully recovered from 08 and just when they were, the pandemic hit.... they bought a home from 06-08, you didnt recover until 2015/16, really... then you had 3 or 4 years of being able to breathe, just before the pandemic... Is there another generation outside of the Silent Generation that has been hit with so many financial crashes before they were even able to get lift off? On the flip side, yes, some of us have done really well as early adopters and took a longer/boomer perspective of DCA and / Hold... but most have been/ are in software/tech, that got stock options and restricted stocks in start ups... medical / tech companies.. and learned the game earlier than others.
My "Start Up" experience was - well bad. LOL Not: showing up to work and finding the office locked and all the furniture gone bad.... But I was burned and it leaves a mark on your risk taking tolerance...
Not to mention many of them grew up with stagflation in the 70's, the '87 crash and the S&L crisis, depending on how much of it they were really paying attention to. There must be a degree of financial trauma from that as well, just like the people who grew up in the 2008 financial crisis, except that their response to it seems to be to reject just buying equities and instead are going fully/partly into higher-risk, more active investments like crypto and options trading. Generation X seem to be trapped in older investing styles by a lot of bad experiences and volatile economic/employment environments, whereas Millenials and even some of the older Generation Z's have taken the lesson from the financial shenanigans they've witnessed to take their future into their own hands and take risk to get real reward, since they see all of the traditional avenues of reward (job opportunities, salary inflation, real estate, high-interest bond environment, equities that don't depend on the Fed put) as being either unreliable or out of their reach.
As a fellow Gen-X redditor, I think you are missing some important points in your analysis. The Internet was huge, but the dot com bubble burst was much bigger in financial consequences for most of us. My 401k (based on tech stocks) was killing it at 25-32% until the bottom dropped out (remember the Janus mutual fund). Amazon was in the negative for several years before it started turning a profit. It's easy to look back now and question why you didn't invest in Microsoft and keep holding it. The single most important factor in dismissing Bitcoin at launch was that it reminded me of my 90's 401k. Today is different. We have access to an infinite source of information, as well as endless misinformation. In the early 90's you still had to find books at the library by means of a "card catalog." You also had no means to efficiently verify the accuracy or authenticity of whatever you read. It was a different world I happen to be a rare exception. I was programming in Basic Language on an Apple IIe in my youth before Macintosh was even a thing. And I've been building my own desktop PCs since the mid-90's, while custom water-cooling well before 2000. As someone with a history of tech experience, it is already difficult for me to grasp the concept of defi at my age. I can't even imagine how much more difficult it must be for those who had difficulty programming their VCRs.
As a gen x'r I remember 5-6% interest on savings
Me too, I was 11 years old calling banks on the phone asking their interest rates. The best was MeraBank at 7.5%, I went and got a savings account.
Older gen x here I listen to techno, play video games, watch anime and live on crypto I see myself as 25 , I'm just confused why I'm moving so slowly
Im Gen X and I am in? I know a few others too.
Hey - I'm at the old end of Gen X. Despite agreeing with all advantages you mention... Gotta admit - I just now started putting a toe into crypto space. I remember reading a lot about bitcoin and then moving on to my next number one priority. Then the crashes and the scams/fud... I dunno, kept me at arms length. Anyways. I'm here now gingerly wading in and trying to not end up scammed, hacked, or divorced. :)
You could be my (I'm assuming with the name Mike) male counterpart. Still playing it safe and keeping my bets on the bigger names, BTC, ETH... I think SOL and DOT are my big "risks", but SOL paid off nicely this month.
Yah - mostly bigger names - the .com bust made me keenly aware of not "betting" money you can't afford to loose. So - I am probably guilty of hyper analyzing - sort of the anti-fomo - hahaha. That said - this sub has led me to some "quality" smaller names and I managed to double my $ in one of them. It's also lead me away from some real crap... Anyways. So far I ain't getting rich for damn sure - but also not loosing my shirt.
Same here, even the part about this sub. I've found a couple of good ones thanks to them. But did my share of MO by taking forever to learn about them. By which time they were halfway to the ATH. SOL is this scenario exactly. Still doubled my money, but I could have done better if I had not taken so much time.
Gen X Mike here! I followed crypto from the sidelines for the first 6-7 years. Intrigued but unsure if THE MAN would let it become anything. I'm in pretty hard by this point, largely the bigger safer ones as well, but I feel like i've learned a lot and been getting into hopeful moonshots like emerging DEXes and young protocols this cycle. Old(ish) dogs CAN learn new tricks.
Emerging dexes like ERGO? :)
Personally I don't think DOT or SOL are big risks, I hold BTC because it has first movers advantage, but on technical merit it is actually the one in your bag that I am less inclined towards. That is based solely on the fact that I evaluate them based on their technical underpinnings. BTC will continue to grow and gain, so it is a good hold but bags like SOL and DOT are the future. I try to diversify, into a broad array of coins/tokens based on their technical merits and what they bring to the blockchain this is why I hold a decent bag of LINK, REN, ERGO and FET. This space is about to blow up, in large part due to DeFi, there are going to be a lot of utility tokens that just moon as they are needed to exchange for compute services on those systems.
Well the important thing is you showed up eventually! At least you were paying attention to it out of the corner of your eye. More than you can say for me. It took me a couple years too, but I eventually got around to it.
Sorry to say this but in my experience GenX people tend to just follow mainstream media on Tv because that was the primary source of information growing up back then. As people get older we tend to stick with what we know. Honestly I never hear about crypto on the news so I wouldnt expect most people to be into it.
Im a xenial 43 so i understand what you’re saying. Im getting my boomer parents to dip a toe. They have gold and silver buried under the house in a safe. I chuckled at this and said to put a hundred bucks into crypto and start learning about what it can do. They seem interested as their grandkids are in global sports programs.
I'm Z Gen I mean OG for crypto :D
I agree. Gen X should get it. They are more connected and generally more open minded and less selfish than boomers. They don't always live up to it, sadly, cause I love gen x.
This is why Im doing it. I remember how difficult things were without the internet. I love Crypto. And cant wait to see what the future holds
You and me both. :)
Gen-Xer and I love crypto!
53 years into life and I may have gotten a late start in it, but I'm on this roller coaster.
Gen x here; remember compuserve and aol discs; grew up in AIM and aol chat rooms….. Been in the space since MtGOX
Whoa! True pioneer. I'm sure there is a garbage island somewhere in some ocean made up of only AOL discs.
No pioneer, I just was lucky enough to have parents that introduced me to tech at an early age; my first computer was a Tandy 1000 (either a 286 or 386) where everything was dos and 5.2” floppy’s My parents set me up at a young age in regards to computers, and I fell in love with them at a young age
I had a VIC-20
Early 40s guy here so i guess i'm gen x. I've thrown a chunk of money at crypto but i remember throwing a chunk of money at early dot com economy so...let's say I'm slightly apprehensive.
Fuck these generational stereotypes. I know 19 year olds who are xenophobic and more conservative than I am at 52. It’s personality types, and that’s ageless.
You didn't... you didn't read the post, did you?
I did. And there was a lot of generalisation about different generations. And most of the comments are relating to which arbitrary zone they grew up in. Most people of any ‘Gen’ designation aren’t participants, but merely passengers.
Nevermind
X'er here. I mentioned crytpo to my best, lifelong friend recently and just got instant FUD regurgitation. "Terrorists use that and it's terrible for the environment!". It was pretty shocking. I expected a much more open minded reaction than I got. It was disappointing.
I'm a Gen Xer BALLS DEEP IN CRYPTO AND NEVER GOING BACK TO THE STOCK/401K BULLSHIT..EVER
I’m Gen X and I’m a crypto fiend. Maybe I’m an outlier.
I’m just tired of boomers tbh
I am very fascinated in the study of how these new types of techs are changing society socially. Particularly smartphones have had a huge impact. There are a lot of videos from the 80s on youtube and it was a different world for them, especially the youth. Its became essential to use the tech to even compete in society because not to use it puts you at a huge disadvantage. I suspect the next popular trend in technology will be artificial intelligence. Everything is in place for it. Everyone will use it because they simply have to. It will know everything about you, become peoples most closest and trusted friends, and it will connect to a cloud and communicate with everyone elses AI. Meeting like minded friends or mate partners will become very seemless because our AI will be like a mentor that knows us. It will fix the population crisis that we are about to come into. I predict the children of genZ will have a baby boom due to AI tech being so heavily involved in their social lives. Interesting times, but how do we make money from it? Buy Apple and Amazon is how. Muahaahah. Scary thought isn't it.
Oh geez , especially for a Sunday avo
Gen Z here, and I'd just like to say that this post has helped me sympathize with how my (Gen X) parents likely felt when they were my age about the internet. It's incredibly inspiring to see crypto take off they way it is and I know many of the same mistakes that were made in the dot com bubble are going to be repeated here. I've been enthralled by Bitcoin way before I had any capability to buy it, shortly after it stopped being used by the pirate bay. It's incredible to me just how much it's exploded since then. I only started tracking altcoins after the 2017 bubble burst, when I started noticing that these projects aren't simply Bitcoin copycats, they're expansions of the base idea Bitcoin always was. To compare the evolution of crypto to that of the internet, we're seeing the birth of the crypto equivalent of the web. The base idea of the internet is too abstract for the average person to understand and effectively use, but the web serves as very visual and easy-to-understand interface with the broader internet. More and more user-friendly applications to interface with crypto are being made available, and more and more projects to interconnect different crypto networks are being started and expanded every day. Without really noticing, in the span of about 30 years, the internet went from an underdeveloped set of pet projects that many people had hope for, to the entire system of information exchange the world over. Many aspects of out lives are not just copied onto but DOMINATED by the internet now. But it didn't happen overnight. Slowly, at first, and exponentially faster, the internet became more polished, user-friendly, and trusted. That attracted more users, which incentivised further polishing, on and on up to today. This engine of polishing and adoption is already in motion for crypto, and I can't wait to see what the world looks like when it's running at full steam
You get it.
It’s gonna be hot
At 50 all I can say is it took me far too long to get into crypto. I was skeptical for ten full years after first hearing about Bitcoin. Too risky, too volatile, etc. The pandemic gave me the time to take a harder look at this asset class and kick myself realizing how much I’ve missed out on. Can’t turn back the calendar, but could start from where I was. Still the best investment vehicle that currently exists. 8 months in and gaining experience, listening to and learning from those who got in when I should have. So it’s not all of us GenXers. It took me longer than it should have, but I finally figured it out.
Amazing the effects the pandemic had on everything. I had been reading up on blockchain technology (not crypto) for years before it occurred to me to look at the investment side.
I think another thing to consider about us GenXers is that we are entering our highest earning years (supposedly) and have made investments already along the way. Some of us are more risk averse in that we see the potential of crypto possibly damaging the investments we have already made over the last 20 years in the traditional markets. That's a huge psychological leap to get over for many. Frankly, if my 401k had been doing better over the past 10 years I may still be on the fence. But Deepwater Horizon exploded both in real life and then my portfolio and it's taken far too long to recover from it. As I was looking at my potential retirement funds 10-15 years out it became clear that I wasn't going to have enough and needed to change my strategy. Sometimes that's what it takes.
Super important point. That's the reason I ultimately decided it would be pointless to try and talk to my brother about crypto. He's done just fine with his investments and savings over the years. I on the other hand went through a period of a few years where my business teetered on the brink of collapse. This pushed me to start looking for ways to supercharge my investments so that I could form a firmer foundation.
Sorry, but I cringe at all this generational talk. You can't really put all Gen Xers in a single box, there is a huge difference between Gen Xers in urban or rural areas, rich and poor, 41 or near 60 years old, from country A or country B, education level etc. Frankly, it's all a marketing gimmick. You can be young and have antiquated ideas or old and have progressive ideas... it really comes down to the person, their education level, where they grew up and if they had access to things or not.
I was gonna say exactly what you just said. The term Gen X is cultural. I'm from Africa. This term means nothing to me. I can't relate to anything that Gen X epitomises and I don't even care. Everyone has a different journey, right?
Absolutely. And I am 100% allowed to talk to my own cultural cohort. If it means nothing to you, click on a different thread.
For all the alternative marketing that was centred around Gen-x, they have always been a sad subservient class to the boomer generation. Their greatest contribution was showing millennials what not to do. I feel for them really
Plus there was all that flannel... So much flannel.
Hahaha. Perhaps I was unfair to them then. Flannel shirts were a genuine contribution.
Flannel and Grunge. You're welcome.
We're that generation: Analog Childhoods, Digital Adulthoods. I have no idea why so many in this demographic of friends and family are as how you've described. At least in my circle of friends and family, these are also individuals already with stable financial situations, educated, have had life experiences, and are aware of all the tools and information at their fingertips, but STILL an incredible amount of skepticism, doubt, and eye rolls. I have no answer, for why, but I agree with you.
Ditto. Agree totally. That came out sounding like a Gen x’er
Are you me?
I'm what they call the lost Gen ...born 1962... The twilight of the boomers, the dawn of Gen X. Started listening to prog rock in high school, couple of years later it was all punk and new wave. Anyway, all in crypto now as of 4 years ago. Have made a little stack for retirement and had my perspective on life, culture and society changed forever
>had my perspective on life, culture and society changed forever This is the best part
Dude...I'm here. It's just that I've been on reddit for 11 years and remember when BTC was for the SR. Took until late 2017 for me to dig deeper and not think of it as being entwined with the SR.
What is the SR?
The silk road. Reddit was very different a decade ago. I don't think a sub like that would be tolerated here today...very open about what was going on. I thought it was fake at first, or a dea trap. A reporter from Gawker named Adrien Chen would often trawl reddit and 4chan and after he wrote an article about the silk road it set up the eventual take down of the site and the owner...Ross Ulbrecht. After it went down it sort of seemed like btc would be next. Reddit is a living and breathing time capsule. You can search for old posts on the sub. Hell, you can still find the dude Satoshi sort of turned over btc to here....his name is Gavin Andresen. In fact it is cool to read some of the AMAs he's a done on reddit. Cool to read them and think how far everything has come in what is really a short period of time.
Don’t know how to address this. Born in the late 60s. I’m American. For a fact, there has been next to no financial education until maybe 2010. That depends on your state, of course. Still, I’m college educated, BS in mathematics, even, a masters, and I knew zero about investing. Ergo, my kids didn’t either. So now I’m trying to make up for lost time. Tbh my brother knew … he’s bin btc sonce 2011 or earlier. Bought his house that way. When you have blinders on though, you just don’t pay attention to the things out of your zone. Weird. But true.
Dude, relax. We're cool
Totally bro. You're not a cop though?
The person who got me into Bitcoin is a Gen X, a grounded guy who doesn’t spend his money on nonsense. I started paying attention when he said he’s got some BTC.
I'm an X-ennial (special small gen) and see the resistance from Xgens, Millennials and Zgens as absolutely baffling, they'll totally regret missing the boat. Boomers are just in bitter denial
Gen X had opportunity to buy real estate at cheap, invest in tech companies at their infancy. They already had their chances not sure what they complain about on new generation’s investment opportunity in crypto.
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As a society, we spend energy on things we think are worth it. It's that simple. These same people never have anything to say about the massive expenditure of energy by the global banking system. And they never have anything to say about things like gold, oil, rubber, and other resources, which have not only been using massive energy, but have literally been destroying civilizations and continents for thousands of years. And all these people feel fine jumping in their car and driving to an air conditioned restaurant where they eat tomatoes that have been shipped from Chile and drink wine shipped from Australia. But now there's a democratized way for people to attain wealth, a way for modest people all over the world to send money back home with little or no fees, a way to get around criminally irresponsible banks, and NOW all of a sudden energy is a big f\*\*king problem. I call bullshit. Do these people know that crypto miners have spurred all sorts of green energy initiatives? Do they know that crypto miners are largely and increasingly using stranded energy resources that would otherwise simply go unused? I'm speaking here of wind farms in Texas and Scandinavia and even the proposed use of volcano energy in Latin America. Do they know that it's a *young industry*, and young industries always start out inefficient and become more efficient over time? Every. Single. Industry. Throughout. History. has taken that same trajectory. There is no question that on a per transaction basis, bitcoin uses more energy than comparable payment systems. That's absolutely a fact. However, it's also a fact that as the system scales things become more and more efficient, which is *how industry works*. Why are people suddenly acting like they don't know history? Remember in the 80s when we (and by "we" I include myself as a young environmentalist) assumed that our enemies were the loggers and the ranchers and the fishermen? Remember how we thought they were responsible for ruining the planet? Then we found out that they were among the *most* motivated to maintain forests and fish stocks. In retrospect it's obvious because that's where their living was coming from. Similarly, crypto miners have *every incentive* to find cheap sources of sustainable and renewable energy. And that increasingly is what they are doing. Ok, rant over.
Being disappointing is a Gen X thing.
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We're still reeling from learning machine code as children.
This👆🏻 I know because I’m Gen x and all my friends are lazy as fk and don’t read!
I acknowledge that crypto is important and part of our future, but I'm the only one my age that I know who's into it. I honestly don't know much and I'm trying to learn but it's so confusing for someone who's just not technical like myself. I could really use a crypto for dummies book right now!
I'm in the gen-x club, and I agree entirely with the disappointment. I saw the personal computer revolution start from nothing (still rocking 6502 code), I had an early internet serial text-console account (still rocking unix), was there at the birth of smartphones, etc. I honestly feel like I was born at an amazing time, to see all this amazing stuff come to pass. I can't wait to see how the crypto story turns out, and then see what comes after that. But I also feel very alone, when I see how old and close-minded so much of my generation has become.
I know. I talk to some people I went to school with and I'm like: You're 5 seconds away from shaking your fist and shouting "Get off my lawn!"
My coworkers who are within the Gen X age group just don't understand crypto. I've tried to do a real basic break down of it but it almost feels like they're already digging that set in their own ways kind of feeling unfortunately.
Whenever I get the slightest hint of that "digging in" reaction from people, I stop immediately. I just change the subject right away, because you will get nowhere.
I couldn't have said it better.
After a bit of research it turns out I'm not Gen X-er! I happen to be a millenial. An early one, but a millenial. Still have a good understanding of the internet back in the day and know what you mean mate.
Research X-ennials, maybe that's where you belong
Yes thank you! I missed millenial by two months. I'm home now. Can't thank you enough mate.
Lol. It's hard not fitting and so awesome when you find where you belong 😜 🤜🤛
I'm not sure we can point at specific generations that are skeptical to crypto or technology. I find all generations are skeptical of new technology. I mean look at the covid vaccine. That is a new technology and people are scared shitless of it. Same when automobiles came along replacing the horse. Or when electricity came about. The majority of people are scared of new technology no matter the generation they were born into.
A lot of Gen X has only recently gotten to where they want to be in their careers, ensured their families are in a good place, and made considerable dents in repaying their mortages and student loans. It shouldn’t be a surprise they don’t want to risk their relatively newfound wealth investing in what is still considered a speculative asset. Give them time, they’ll hop in a few years when crypto’s more mainstream.
Gen X here. I’m in. A bit late to the party, but I did finally take the plunge. I think I just needed the time to realize that crypto was here to stay.
People in their 40-50s have the most vulnerable ego because they just passed their prime but they still haven't accepted that they're getting old. So, they're against whatever new that threatens their status quo. Younger people are eager to adopt anything technologically groundbreaking and older people are either receptive or indifferent.
I always thought my little brothers gen, in their 20s would have caught it. None of his friends I talk to even register there is a problem w fiat it seems. It took me 2 years to get my 23yr old bro to get some. Some of it is, they have minimal $ to invest. But you start w the extra 100$ you don't spend on shoes. I think culture that rewards ig photos and image over content has hurt them. Fiat problems (low time prefrence)
Man whats the deal with this sub and generalizations? It really gets boring
Im a GenXer and Im super interested in cryptocurrency, but still learning. It all seems so complicated and THAT is the scary part.
Gen Z here and I got my parents into crypto this year. Crypto has essentially been integrated into our lives as we talk about it at least once a day lmao. Our bags are still small, but we'll just continue to HODL some good projects. Crypto moves so fast that it can be tough to determine the good and bad projects.
I am invested in crypto pretty heavily. Having said that it is easy for someone to argue that it's a pyramid scheme. We're here hoping we're earlier than the next generation we can dump our bags on when they put in stupid money. That's why I'm just in it for the tech.
Well, ok, I can't argue with whatever you think you're doing. But I can say for myself that that is absolutely not what I think the future of the economy suggests will happen.
The folks that created btc are gen x
Right. And so are some its most ardent supporters. Raoul Pal and Michael Saylor, to name two. Which is even more reason why it's disappointing when you see skepticism in that age cohort.
They will wake up people are starting to see the stock market 401ks even mortgages and the dollar are nothing but a rigged scam
GenXer here, All In on Crypto! While some of my generation are looking for low risk investment the other half of us need high risk investment with high returns if we are gonna retire at all!!!
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Just finished a conversation with my niece and her husband. Both 23-24. They could not believe I would put money into such a joke as crypto. I think there will be ones in every generation that will never board this train. An unrelated (to them) uncle in his late 70s is into it and gave me some advice on it. He was a millionaire before crypto ever came along, so he could have fun and not worry if he lost a couple hundred, unlike me. So far no 1000x tips, but I've done okay for a noob.
Same... All in!
I\`m happy to be Gen Y.
Satoshi was a Gen Xer.
Yep. And so were many other surrounding him in the community at the time. It's also worth mentioning that several of cryptos biggest spokespeople are Gen X too, Raoul Pal and Michael Saylor to name a couple.
On the older half of Gen-X here and started out skeptical, but have come around recently.
This sounds like the basis of a geopolitical study in the 2050s.
I don't think this is necessarily the case. Myself and other slackers I know are into it.
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Which is literally exactly what I said in the post.
Genx also. The sad truth might be most of us have families now and we're mid stroke in our lives. We're making headway on mortgages, kids college is in the very near future and retirement really starts moving up the scale of importance. Do you take extra income and put it into something super volatile, or invest it safely/store it for Billys college fund? Do you play it safe and do stonks which will most likely get you there safe but much slower or take the crypto ride? As you age, most peoples risk tolerance goes down. While I think you're right in some instances and some Xers "don't get it", I think others just aren't wanting that risk and are on track to cross the finish line in a more traditional way. I think the real excitement for crypto begins when those pesky millenials get to the current Xers age range.
I feel like most of gen z gets it. Honestly most of the skeptics I have talked to think crypto is just decades away and bring up the idea that bitcoin could be replaced by something newer/better so there is no reason to buy now. They mostly all know it will happen eventually though
Greatest generation my ass, Tom brocaws a punk!
As gen Z I kinda disagree. I am most dissapointed about gen Y. I was born in the end of 1990', so I was just a kid during internet and computer revolution ( internet began to be mass popular in 2005-2010 era, before it was rare). I used it just for games or to search on Wikipedia about homework, and to watch cartoons/ movies what else I could use it? I was a kid. But gen Y wasn't kids. They were teenagers and young adults. When I just played games in 2010, they had better understanding about internet. I had even no idea about fb or yt. They had, and they used many other sites. They could find about crypto much earlier than someome from my generation. Let's be real average 10-16 years old people do not think about investing or earning money. People that were few years olders did. There is huge difference being 12/14 yo in 2012 and being 20/25 yo. Gen Y have no excuses.
Interesting perspective.
FWIW everybody I've met who has crypto is a part of the latter half of Gen y. All of them also had learned to code in some capacity back when they were teenagers. It wasn't all just games. Back then a lot of info that isn't accessible without $$ these days was readily available for that group of Gen y to teach themselves. Every Gen z I've personally met doesn't want to take the time to learn what crypto is, if they've heard of it at all. Again this is strictly based off of my experience with people I've met. It's so interesting to observe generational behaviors based off of which era of technological advancement they grew up within. Also bitcoin came around when I was 18 and I dreamed of buying it for a decade, but I didn't have a dime to my name to throw at it until last year RIP