Bitcoin and the Seniors: Difficult or Easy?

[robelneo]

Why this is so? Maybe senior people find cryptocurrency as something to be difficult to dealt with and they can be afraid of new  technological innovations like Bitcoin which calls for someone to undergo some learning curve to avoid risks involved.

I think it has something to do with the senior preference of doing things traditionally, but they can learn to adopt if they are properly led and people can explain the easy way, instead of the technical terms.

I am sure there are some senior people who are in this forum...I wanna know your experiences whether it is difficult or easy and how is it with your fellows?

I have no problem explaining this to the old folks in our area, you just have to show them how in the easiest possible way and show them how it works by example, they understand that we are living in a modern world and they need to adapt.

And to the younger generation...do you think it would be good or bad to involved the older people, in the first place?

They should be, Bitcoin is for everyone as long as you can understand how it works Anyone, regardless of age, can involve with Cryptocurrency

[LogitechMouse]

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Why this is so? Maybe senior people find cryptocurrency as something to be difficult to dealt with and they can be afraid of new  technological innovations like Bitcoin which calls for someone to undergo some learning curve to avoid risks involved.

I am sure there are some senior people who are in this forum...I wanna know your experiences whether it is difficult or easy and how is it with your fellows?

And to the younger generation...do you think it would be good or bad to involved the older people, in the first place?

You said the reason already. Most of the seniors find it difficult to understand cryptocurrency especially now that some or most of them aren't that familiar when it comes to smartphone and computers, and we know that in order to access cryptocurrency, you need to know how to use either smartphone or computer. I believe this is one of the main reasons as to why seniors will prefer not jumping into crypto even though once or twice, they've heard it already. They just simply ignore it.

Is it bad or good to involve older people? It depends. There are some seniors out there that are good at using smartphones, but these people might have a difficult time learning crypto hence, they'll just simply give up and just ignore it especially if they think that they will not get any benefits from it. Involving seniors isn't a good or bad idea at all, but as for me, I don't want to teach seniors especially those who aren't techy at all.

[libert19]

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Why this is so? Maybe senior people find cryptocurrency as something to be difficult to dealt with and they can be afraid of new  technological innovations like Bitcoin which calls for someone to undergo some learning curve to avoid risks involved.

I am sure there are some senior people who are in this forum...I wanna know your experiences whether it is difficult or easy and how is it with your fellows?

And to the younger generation...do you think it would be good or bad to involved the older people, in the first place?

You said the reason already. Most of the seniors find it difficult to understand cryptocurrency especially now that some or most of them aren't that familiar when it comes to smartphone and computers, and we know that in order to access cryptocurrency, you need to know how to use either smartphone or computer. I believe this is one of the main reasons as to why seniors will prefer not jumping into crypto even though once or twice, they've heard it already. They just simply ignore it.

There are enough user friendly wallets available that I don't think it would be that hard to understand basic things with some guidance but the scams are rampant in this space, sometimes sophisticated that even techy people fall prey to them, so scams in this space are more worriesome than usability aspect imo.

[Mr. Magkaisa]

        -     You know, in our time today, the senior citizens I meet agree with, even if I don't open a discussion about crypto. Just hear one word from others, and you will immediately see their response if there is interest or not. Then they just say, usually, "Oh, I see, yeah, I know that.

I heard it before some of my friends or I watched it on YouTube." Will they be the first to say, "It's not Bitcoin or crypto for them anymore. Or they'll say that I'm old and I don't have time to learn more?" These are just some of the usual things I hear from them. I have never seen an adult who has had an interest in Bitcoin or crypto.

[KingsDen]

And to the younger generation...do you think it would be good or bad to involved the older people, in the first place?

Many older people if allowed to choose between receiving a fixed/stable income, and investing in bitcoin which is highly volatile, will gladly choose a fixed income. Many of them can not handle the risk of watching their investment or savings  depreciate and appreciate in value within just short intervals. Many of them are not interested in hodling for long term, this means short term hodling will be disadvantageous to them.

Introducing bitcoin to them will be really stressful. How do one convince them that bitcoin which has no central authority in control is way better than the traditional banking system they are already used to? Explaining some complex things about Bitcoin may be too difficult for them to understand. I recently read where a 70 years old woman lost all her bitcoins to scammers because she didn't understand how to protect herself from scammers. it is better to allow them stick to what they already know.

[SmartGold01]

I heard that around 80% of the people who are into cryptocurrency ranges from 18 to 44 and only around 7% are actually those in the senior years...so we can then say that cryptocurrency belongs to the younger people.

Why this is so? Maybe senior people find cryptocurrency as something to be difficult to dealt with and they can be afraid of new  technological innovations like Bitcoin which calls for someone to undergo some learning curve to avoid risks involved.

I am sure there are some senior people who are in this forum...I wanna know your experiences whether it is difficult or easy and how is it with your fellows?

And to the younger generation...do you think it would be good or bad to involved the older people, in the first place?

If you say so I won't doubt you because lot people advance people I know around me doesn't give much attention to cryptocurrency because they never have that believe that it would last, instead they saw it as a means of gambling where they need to be very mindful with that amount they are investing into it. Most times it happens that they sees it as a lazy people work or investment where it's not real at all, so looking from how people are diving into this technology almost people who pulling weight are all younger people, except those who started the move back 2009 now became old now and they have already established the trust.

[Madmax789]

while Bitcoin can be challenging for seniors, the right tools, resources, and support can make it easier. A patient approach and small initial investment can help seniors explore this new asset class with greater confidence and security.

[Blaze]

If you say so I won't doubt you because lot people advance people I know around me doesn't give much attention to cryptocurrency because they never have that believe that it would last, instead they saw it as a means of gambling where they need to be very mindful with that amount they are investing into it. Most times it happens that they sees it as a lazy people work or investment where it's not real at all, so looking from how people are diving into this technology almost people who pulling weight are all younger people, except those who started the move back 2009 now became old now and they have already established the trust.

Pessimists will always exists as to anything that goes through their tradition for something new after realising the hardship involved is easier. But now with the onset of this technology we are able to consider a different dynamic in which we exist with financial systems and technology. It may not yet be time for everybody to fully dive into the technology but over time and with careful analysis we can see the real worth of this innovation. Apparently, if we agree to open ourselves to new things, then it may be that this technology will open more benefits than we could ever probably agree to.

[SmartGold01]

If you say so I won't doubt you because lot people advance people I know around me doesn't give much attention to cryptocurrency because they never have that believe that it would last, instead they saw it as a means of gambling where they need to be very mindful with that amount they are investing into it. Most times it happens that they sees it as a lazy people work or investment where it's not real at all, so looking from how people are diving into this technology almost people who pulling weight are all younger people, except those who started the move back 2009 now became old now and they have already established the trust.

Pessimists will always exists as to anything that goes through their tradition for something new after realising the hardship involved is easier. But now with the onset of this technology we are able to consider a different dynamic in which we exist with financial systems and technology. It may not yet be time for everybody to fully dive into the technology but over time and with careful analysis we can see the real worth of this innovation. Apparently, if we agree to open ourselves to new things, then it may be that this technology will open more benefits than we could ever probably agree to.

That is true though but I think the time is already here and lot of things gonna change as Trump begin his new administration there would be sudden rise things will began to change over time. I believe his coming back might bring adoption and legalization, judging by the sudden rise you would definitely understand that it's for a reason and I believe it would come true.

[MUGNIA]

And to the younger generation...do you think it would be good or bad to involved the older people, in the first place?

involving parents is not bad, it's just that there might be a delay in understanding and it takes a lot of time to convince parents to believe in bitcoin, because the risks are very heavy if it's in the circle of parents, unlike young people who are optimistic about a better future and having wealth at a young age is their thinking and btc supports their thinking that they can make them rich by buying and holding until the target is determined

[MRY]

If you say so I won't doubt you because lot people advance people I know around me doesn't give much attention to cryptocurrency because they never have that believe that it would last, instead they saw it as a means of gambling where they need to be very mindful with that amount they are investing into it. Most times it happens that they sees it as a lazy people work or investment where it's not real at all, so looking from how people are diving into this technology almost people who pulling weight are all younger people, except those who started the move back 2009 now became old now and they have already established the trust.

Pessimists will always exists as to anything that goes through their tradition for something new after realising the hardship involved is easier. But now with the onset of this technology we are able to consider a different dynamic in which we exist with financial systems and technology. It may not yet be time for everybody to fully dive into the technology but over time and with careful analysis we can see the real worth of this innovation. Apparently, if we agree to open ourselves to new things, then it may be that this technology will open more benefits than we could ever probably agree to.

That is true though but I think the time is already here and lot of things gonna change as Trump begin his new administration there would be sudden rise things will began to change over time. I believe his coming back might bring adoption and legalization, judging by the sudden rise you would definitely understand that it's for a reason and I believe it would come true.

Of course the belief that the government can undergo major changes can create new expectations, most notably in terms of regulation and adoption of specific technologies or policies. Nevertheless the optimist is a good thing, the optimist should not expect more than is reasonably possible. It is important to note that not all occurrence of changes occur at the snap of a finger and all the progression from one step to another in any legalization and adoption circumstance are always time taking concerning various factors. Hence instead of repeatedly expecting for change to happen, one can and should proceed to do things that we are in charge of in this case by acquiring more knowledge and additional skills in that particular area.

Moreover, the existence of opportunities means, the potential presence of impact should be taken into account by us. Although there are policies that have positive effect we also need to be ready for the negative effects that come with it. In this manner, not only do we remain heavy on an external aspect but also, if necessary, are prepared for a change. This attitude lets us go forward and capitalise on opportunities as they are already known at the future regardless of further change.

[bitterguy28]

I don't see a negative impact to the seniors when they invest their pensions or their current income from business (or side jobs) into cryptocurrencies. Some things might be too complicated for them but we already have wallets and exchanges that makes it more convenient for them to buy and sell.

i actually have some reservations about retirees investing their pensions or retirement funds especially if they are not very knowledgeable about crypto or just investing in general i fear that they will lose all of their money and theyll be left with nothing

this is why i am working hard to have money now so i do not need to still be finding ways to be financially stable when i am old

The main problem here is that they are always a favorite target of online scammers. Once their information is leaked, they are more vulnerable to social engineering.

that is because a lot of them do not know the dangers of the internet and some of them do not know how to protect themselves

[SmartGold01]

If you say so I won't doubt you because lot people advance people I know around me doesn't give much attention to cryptocurrency because they never have that believe that it would last, instead they saw it as a means of gambling where they need to be very mindful with that amount they are investing into it. Most times it happens that they sees it as a lazy people work or investment where it's not real at all, so looking from how people are diving into this technology almost people who pulling weight are all younger people, except those who started the move back 2009 now became old now and they have already established the trust.

Pessimists will always exists as to anything that goes through their tradition for something new after realising the hardship involved is easier. But now with the onset of this technology we are able to consider a different dynamic in which we exist with financial systems and technology. It may not yet be time for everybody to fully dive into the technology but over time and with careful analysis we can see the real worth of this innovation. Apparently, if we agree to open ourselves to new things, then it may be that this technology will open more benefits than we could ever probably agree to.

That is true though but I think the time is already here and lot of things gonna change as Trump begin his new administration there would be sudden rise things will began to change over time. I believe his coming back might bring adoption and legalization, judging by the sudden rise you would definitely understand that it's for a reason and I believe it would come true.

Of course the belief that the government can undergo major changes can create new expectations, most notably in terms of regulation and adoption of specific technologies or policies. Nevertheless the optimist is a good thing, the optimist should not expect more than is reasonably possible. It is important to note that not all occurrence of changes occur at the snap of a finger and all the progression from one step to another in any legalization and adoption circumstance are always time taking concerning various factors. Hence instead of repeatedly expecting for change to happen, one can and should proceed to do things that we are in charge of in this case by acquiring more knowledge and additional skills in that particular area.

Moreover, the existence of opportunities means, the potential presence of impact should be taken into account by us. Although there are policies that have positive effect we also need to be ready for the negative effects that come with it. In this manner, not only do we remain heavy on an external aspect but also, if necessary, are prepared for a change. This attitude lets us go forward and capitalise on opportunities as they are already known at the future regardless of further change.

As we know the race has already began and we need to be optimistic about what the new government would give birth in the space as many people has been expectant of the possibilities which is to come through this new administration, and of course we know the current regime is a bitcoin friendly government and even though the past seems to have hated bitcoin that doesn't mean bitcoin will be dead or won't still create out the possibilities as many people seems to have been venturing into the market on a regular basis.

This creates another wonders towards the space even though Trump emerges as one but we can say his is a channel through which bitcoin wanna scale through to gain it's stability within the cryptosphere. Yes we know that and thus has cause a some sudden surge beyond expectations of old investors and of a true people who hadn't believe it would result to this level are those who are in all means eager and wanting to venture into the market without even considering how the market has risen within the past few days.

[taufik123]

I don't see a negative impact to the seniors when they invest their pensions or their current income from business (or side jobs) into cryptocurrencies. Some things might be too complicated for them but we already have wallets and exchanges that makes it more convenient for them to buy and sell.

i actually have some reservations about retirees investing their pensions or retirement funds especially if they are not very knowledgeable about crypto or just investing in general i fear that they will lose all of their money and theyll be left with nothing

The need for education for those who are elderly to invest in crypto, of course the risk is very great when they don't understand what they are doing.
Crypto is full of many scams that will take over the investments of the elderly very easily.

Reading a lot of news about the elderly losing their investments unconsciously, and that's a pretty big investment.
As a savvy person, I myself would probably educate my grandfather when he wants to invest their retirement funds in crypto safely and appropriately.

[Blaze]

The need for education for those who are elderly to invest in crypto, of course the risk is very great when they don't understand what they are doing.
Crypto is full of many scams that will take over the investments of the elderly very easily.

Reading a lot of news about the elderly losing their investments unconsciously, and that's a pretty big investment.
As a savvy person, I myself would probably educate my grandfather when he wants to invest their retirement funds in crypto safely and appropriately.

Admittedly, it is high time for the cryptocurrency community to start explaining what cryptocurrencies are to the elderly to prevent them from falling victim to somebody’s scams. The whole crypto space with all the possibilities sometimes looks like the world of a clear miracle, if there is not enough knowledge in it. Sometimes it just is a lack of basic communication that they have failed to grasp some of the fundamentals that we take for granted, such as exactly how investments work or how to recognise potential frauds and scams so they should not proceed any further with such intentions. By so doing it will enable us assist them lock up the funds they have been able to build up over the years.

As a family, this has also taken a important noticeable effort in demonstrating our care towards their welfare. A positive experience in the crypto world can be achieved by helping them go through it gradually, helping them make decisions we consider right, and explaining to them how they can ensure the security of their assets without falling victim to a digital currency scam. Not only for them to receive the kind of money that they wanted to receive but also for them to make sure that they trust this company to undergo something new.