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People sometimes claim that there's a generational divide in crypto adoption — younger people "get it" while older people (those who came of age with the early
by muglug 5y ago
People sometimes claim that there's a generational divide in crypto adoption — younger people "get it" while older people (those who came of age with the early web) are stuck in their ways.
But there’s a large group of older people who cling to crypto because they think it'll make their ideas sound relevant again. While appearing "disruptive", the crypto space actually privileges those (generally older) folks who already have money to burn (like the Winklevoss twins, whose payout from FB provided more money than they could ever spend on themselves in one lifetime).
- OtomotO 5y agoCounterexample: Me. Relatively young, not at all into crypto, due to environmental reasons
- xur17 5y agoIf Ethereum completes its migration to proof of stake as expected this year, would you be interested?
- OtomotO 5y agoYes
- codehalo 5y agoThere are many new systems that are superior to Ethereum (e.g Polkadot, Terra LUNA) that already satisfy your requirement.
- OtomotO 5y agoThat may well be, I am not that interested in crypto. I found the idea of a non governmental controlled currency with an upper bounded amount interesting, as inflation can't be a thing. But as a means to satisfy greed... Nope, I am happy with what I have. So there are other spaces in science and computer science I am more invested and interested in.
- Filligree 5y ago> I found the idea of a non governmental controlled currency with an upper bounded amount interesting, as inflation can't be a thing. As I'm sure you would realise if you give the textbooks a chance, deflation is much worse than inflation. Nor is bitcoin truly inflation-less; the prices swing like a yo-yo, it's simply deflationary on average thus far.
- Centmo 5y agoHow about as a means to provide financial security to the world's 1.7 billion unbanked, a means for those who live under oppressive rule to preserve wealth in the face of rampant currency debasement, in a form that cannot be confiscated or stolen. Money-printing drives inflation which is is a regressive tax that disproportionally hurts the poor, who don't own real estate or stocks. It accelerates the wealth gap, which further strains our society. Bitcoin is a means to expand financial inclusion, and help level the playing field just a bit. It's not just about greed. Regarding energy use, Bitcoin mining inherently seeks out the lowest cost electricity which turns out to be either stranded energy (not usable for anything else) or renewable (solar, wind, hydro). This is yet another reason to push governments to stop subsidizing fossil fuels. Also, since Bitcoin mining can be done at any time and in any place, it is able to act as the buyer of last resort for renewable projects whose energy production does not line up with grid demand. Having this extra buyer can greatly reduce the payback period for a proposed solar/wind project that otherwise would not have been able to attract the investment to build it.
- muglug 5y ago> How about as a means to provide financial security to the world's 1.7 billion unbanked Let them eat crypto
- OtomotO 5y agoHow is me investing in crypto changing the lot of 1.7 billion people? I may be the chosen one, but am I that important? To phrase it differently: all you said may (sic!) be true, doesn't change my personal interest though.
- Malp 5y agoWhat are your thoughts on current PoS systems, such as Polygon?
- OtomotO 5y agoNo thoughts, never heard of it.
- dehrmann 5y agoI'm not convinced younger people get it when they seem to spend all their time on TikTok.
- antifa 5y agoI'm curious what the evidence is that it's not mostly old people with too much money and handful of young influncers.