Bitcoin Forum

Dear memebers

In the crypto world, unemployed crypto millionaires born. so the unemployment rate may increase in the country and the GDP will decrease. whats your opinion?

Investing money from young generation and see whats happening

 In the US people that are not actually looking for work are not counted when it comes to unemployment.  So if you are a cryptomillionaire and do not need to work for your money, then you are not counted. 

 GDP is a measurement of goods and services created over time.  If anything, the GDP will go up.  This is based on low unemployment and new millionaires being created.  All those Lamorghinis aren't going to build themselves!

I agree with you but for a long time this will effect the country for unemployment. Because youger generation only investing no work

Yeah that it's possible way for the unemployed to be millioner in cryptocurrency. He didn't have job in reality live but he have money, it's make many people confused. And by the way i'm unemployed to, but i have some coin for my life in the future.

Yes there are unemployed crypto millionaires but their numbers aren't enough to add numbers to unemployment rate and affect the GDP of a country.

Unemployed but employed that is what I call cryptocurrency enthusiasts. I am not working in a field/day job or an office job but I am into Bitcoin or any crypto related jobs online. For me I think GDP will not decrease due to only limited people are into cryptocurrency or any job that is not taxable or related to the factor that affects the increase of the GDP. I did convinced my friends, relatives and family to get into the cryptocurrency world but only two of my social media friends from different parts of my country survived and they are already earning Bitcoins through campaigns and bounties. My point is those who failed to join the trend or those who find crypto difficult to work with find other ways to make money whether they apply for a field job, office jobs or make a small businesses that will still boost GDP of the country.

There aren't any jobs, unless u have a skill, like electrician or plumber,

Kids these days go to college, and drop out, go back home.

Day Trade Crypto, call themselves 'rich', whack off to free porn, never been with a real woman, and again they're rich :)

NOT

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MAYBE U can borrow money from parents to invest in BTG??

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Where I live, gamers grow up, and borrow money from parents to buy GPU Mining rigs, and then quit when they find out they can't pay monthly electricity costs. Then they sell their GPU's, and  owe their parents $6,000 USD, ... viscious cycle, I guess day-trading crypto's is just a level before suicide.

Yes it can happen to a smallish amount of people, but it is virtually impossible for the majority of the younger generation to be living the millionaire life and all not be working.

Yes, there is another aspect that if alt coin sell then profit comes to motherland, then the foreign reserve will be high. Central bank apprciate about it defininitly.

We have do jobs while doing crypto

Wow I wouldn't tell my friends to get into this hobby, maybe if I had enemy and wanted to screw up his life.

I like this because I have always done GPU algo's and I have been doing crypto research forever, and right now the MOST powerful computing resources on earth are directed towards mining crypto's, its an interesting time from a research point of view, right now my rigs are profitable, when they cease to be profitable I'll direct all my CUDA horsepower back to Machine-Learning, which is why had GPU's in the first place.

Most people are not into the TECH, they're just 'easy money' day trading people living the dream, or something they heard, or second hand scam knowledge, like all those videos on UTUBE of guys talking shit about making money off of crypto.

The shit is very interesting, its a hobby, but when a mining rig only makes $10-20/day, per rig, I would hardly call that 'rich' ( being a miner ), especially when you consider outlay.

WRT to gambling 'BUYING Crypto alt-shit" that is a zero-sum game,... Smart ppl NEVER play zero sum games only idiots.

If your going play, then play to win, like the BTG boyz who launched ALT-SHIT BITCOIN-GOLD and pre-mined $50M first day, now that's how U make money, for them it WAS NOT A zero sum day.

This generation has been discounted already, they grew up on games, and now they believe  lies, all these kids that I personally know are anti-social loners, that have no friends, and have never been near a live woman. Most are mid 20's or older and living at home.

As U can see in this forum, its mostly bots, and the few humans don't care about reality, their only reality is a new 'air drop' tomorrow, or a new shit-coin debut on yobit.net.

Nobody needs the kids on the street, the only jobs are cops,prison guards, better for the kids to stay home sit in front of a computer and see digits fly on the screen, and to get self-affirmation that they're rich.

This shit is NOT new, back in the 19020's a famous guy wrote a book about the 'stock market', the book was called "Where are the customer yachts'??

If there was a single young crypt millionaire here, we would be seeing photo's of their yachts 24.7

The exchanges make money, the people who clone/create shit-coins make money,

The minors make a little money,

But the Day-Traders they are always the losers.

As a lot of the companies already declared about try to made automation to all of their financial system through use the blockchain system itself. A lot of the new millionaires born from the crypto.
The more people and various party are interested in the crypto.
The socialsm from the one person to each person decrease a lot. 

Young generation just investing is right. But i think the number of those investors is not much. It might affect some country but i think they can deal with it.  :-\

If you have nearly 30% of the population in your country who became cryptomillionaire, It'll be really alarming! ::)
Even the 50% of the cryptocurrencies holders are not even millionaires, maybe millionaire in DOGECOINS.

Every business and investments has its price, meaning; if you invest big, you may win or lose big. Only the millionaires who invested hard on bitcoin gained millions if not billions.

Do you also know that majority of the rich people around are not employed beccuase if by your definition, being employed means going to the office and working from 8am to 5pm minimum of 5 days in a week. The fact is you don't have to go to the office to be employee a lot of graphics desgner gets to work from home and earn even trading to become crypto millionaire is never a lazy man job with all the risk involved more than whose salary is guaranteed at the end of every month.

1% or less unemployed millionaires , self made millionaires by the help of crypto currencies. Like the price of Bitcoin their status is really not permanent. Some are 1 day millionaires, smart people would invest and venture to new business rather than being unemployed and ending up as a coach potato. Crypto is not really widely accepted and the percentage of the millionaires of crypto is not that big , so I think it won't affect that  the unemployment rate of certain country since CRYPTO Millionaires are divided in different countries.

There are few of the total population of the world that are unemployed that are into crypto trading or has investment with it. My estimation it's only 0.001 % of the total world's population that are employed and did focused into their trading career. I'm not a young unemployed millionaire but I can say that cryptocurrencies did helped me a lot with my financial status. Being employed is what makes us think that you are secured financially but in today's generation, getting into crypto will give you financial freedom.

Still there are dumb kids just like your grandma who does not know what is going on cyber space...

It's funny to say that millionaires are unemployed. Certainly millionaires know how to make their money profitable without having to do anything. That is the difference between the rich and the poor.

this is becoming like a big and common mistake these days.
you look at the prices and think people are getting rich simply because the last price you remember was lower than the price that you see today. but the reality is so much different than what you assume.
in reality most people buy altcoins after the pump was finished (on top or in the bubble) and then they become bag holders of these tokens waiting for them to rise some more while they are falling in price. that means they lose a lot more money than it may seem to you.

the only people who are making money are a few who are well aware of how the market works, are familiar with the pump and dumps and things like that. the rest are the fuel for their rocket to the moon!

yes i agree. smart thinking is there always. but majority is not doing anything and investing. then that will effect economy growth of the country.
smart thinkers and innovative thinkers always win.BTCBTCBTCBTCBTCBTC

the same i am emphasizing everyone should contribute the economy by doing goods and services

Unemployment rates are only measured for people who have registered as actively seeking employment.

If people are crypto millionaires and don't need a job, they are not technically unemployed.

I do not think the population of unemployed millionaires are not so much, at least millionaires that get millions from cryptocurrencies are not so much.

We are in the beginning of industry 4.0 era, machines and software will do all the job for us, instead of people. Working hours are also decreasing under 20-30 hours a week. Therefore, this is just a standard of the future. Unemployed or working less hours workers and officer will be the reality of the future. Don't worry about unemployment

This cannot happen...
Imagine a world where everyone relied on the cryptoworld for an income. How would the real world produce resources? How will things happen in general? Yes you would be millionaire lets say, but, who will you pay to get things done? You would need androids or bicentennial men to do everything for us! Technology that doesn't exist just yet. The entire system would probably collapse with no production and send us back in to the dark ages.
I prefer... Be employed in both the real world and crypto world and create a better tomorrow!

The world of millioners can already be observed right now in UAE for example. But for all technologies they invite specialists from other countries to develop technologies and do on..
so the world of unemployed specialists is going to turn out to be a terrible thing

I believe that employment will increase because working with crypto is itself a job, so as more people get into it, unemployment will decrease. Some who invest in crypto, make money to use for other traditional things like Agriculture, Producion, etc, which also create more jobs to help the society, but selfish ones make money only to lavish on lifestyle.

i think youve got it right mate.if the OP saying that those unemployed turning into investing here in crypto will become employed by them self.so the younger hpgeneration will be the same,why woukd they need to find job and work with minimum time,when they can have profit by just investing thier time here in crypto.wasnt that mean that unemployment will in get bigger ?

I agree with you, i know many users are making crypto their full time job and leaving their real work to focus in this online trend.

If there are millionaires from crypto, i believe theres only few who are unemployed. Even rich people are very busy in their businesses to make it grow and for them every minute counts.

The amount of people using crypto won't affect a countries GDP at all because the number of crypto users is nothing when compared to GDP statistics. Even if crypto had 100 times the users it has now it still would be too small to affect an entire countries GDP. And by the time it does grow substantially enough to begin making an impact the entire crypto system will have been regulated to fuk like we are seeing already happening in it's initial stages.

There are 2 types of unemployment. 1) Unemployed because they don't have to work or don't like to do it. 2) unemployed because of their personal inabilities such as lack of education etc. When people belongs to category 1) then logically they are not counted in for statistics.

The Unemployed Employed has got a ring to it!  Many people actually make a living out of crypto, but its such a big risk. The good thing is, there is so many ways to get rich by taking advantage of the cryptoworld.

It's so easy to make money in the cryptosphere. Anyone can do it nowadays - from the smartest man to the less intelectual person. I would rather work, even if it's a crappy job, and take advantage of the crypto world.

You also correct that , everyone work for money. If money coming there we work lot. Thats the crypto world.

I think such a system will reach a saturation point sometime in the future and create a chaos where the government forbids the activity of earning money without working.

It's crazy how the crypto world has changed so many lifes, people are becoming millionaires literally over night, if not over a course of a couple of hours. The problem is that many of them are in-it for the money and not the technology or the promotion of what they are really intending to launch at some point in the future. Many are just seeing ICO's for example as a means of making money and disregard other things such as having a good business plan, team and idea. Because they are not really intending to launch a successful product/service at the first place, so after they get their money and payment, they usually dump it over some exchange that that's end of the story for that project. Hope we'll be seeing more regulation in the short-term.. things might change then.

Sorry, but I do not see logic in your words. Why do you need to go to work if you can easily earn money from crypto currency? It is not easier to develop, where you can earn more, with less waste of your efforts? If of course, the work brings pleasure to you, yes.