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Title: A majority of Gen Z investors think crypto will make them millionaires Post by: Hydrogen on December 07, 2021, 10:49:52 PM Quote It sometimes seems crypto is minting new millionaires by the day, particularly those with the stomach to dabble in the risky world of altcoins. The most famous of these — like doge and shiba inu — have produced some eye-watering returns in 2021. It's no surprise then that investors are flocking to the space with dreams of quick riches, and Gen Z investors, in particular, think crypto will make them millionaires, a recent study by research and data analytics firm Engine Insights showed. Nearly two-thirds — 59% — of Gen Z respondents to the survey believe they could become wealthy by investing in cryptocurrencies. "This generation has a greater acceptance and comfort with all things digital, so not surprising that would be more comfortable with crypto," Kathy Sheehan, SVP at Cassandra, a division of Engine, told Insider. "This generation has a lot of concerns about debt and finances." A confluence of factors, from the rising costs of real estate to college education could be to blame, Sheehan told Insider. Inflation reaching 30-year highs has only reinforced the appeal of crypto as the weakening of fiat money dominates headlines. "They feel that everything financial is harder for them than it was for previous generations," Sheehan said. "Couple that attitude with more of an appetite for risk, it is not surprising that they are hoping for a quick fix or return." Gen Z, a group of about 72 million people in the US born between 1997 and 2012, is the most diverse generation in American history in terms of race, ethnicity, and sexual orientation. Broadly, this generation is progressive, pro-government, and activist-minded. They have also grown up in a period of watershed cultural moments including #MeToo and the post-George Floyd era, weathering a disruptive global pandemic on top of it all. The survey, whose findings are based on responses from 1,027 people in November, also found that if offered $2,000 to invest, Gen Z respondents are three times more likely to buy digital assets compared to baby boomers, and twice as likely to consider virtual currency a "legit currency." The crypto market has fluctuated wildly this year but has generally been trending higher. The crypto market capitalization hit $3 trillion recently. Bitcoin has gained 100% since the start of the year, while ether is up 480%. Meme coins have had it better, with dogecoin rising 4,835% year-to-date and shiba inu skyrocketing 63,490,000%. Many retail investors poured multiple rounds of government stimulus checks into stocks and crypto, helping fuel the surge in both markets seen during the pandemic. https://markets.businessinsider.com/news/currencies/gen-z-crypto-survey-bitcoin-ether-dogecoin-cryptocurrency-investing-2021-11 .... Bolded and highlighted some of the most relevant parts. The question is often asked: has bitcoin achieved mass adoption. Numerous statistics and numbers have been cited over the years, in an effort to claim bitcoin and cryptocurrencies have made it big. Our latest offering here claims 57% of generation Z believe crypto is a good method of building wealth, with that segment of the population numbering around 72 million in the USA, roughly 22% of the total US population. What's interesting about generation Z is the right wing claims they are the most conservative generation in many years, while others claim they are the most progressive and left wing generation. There is some dispute as to exactly what generation Z think and believe, which will undoubtedly be resolved eventually. That said its always great to see people acknowledging the positive role cryptocurrencies can play in society. Title: Re: A majority of Gen Z investors think crypto will make them millionaires, new surv Post by: The Sceptical Chymist on December 08, 2021, 12:36:37 AM Quote Gen Z, a group of about 72 million people in the US born between 1997 and 2012, is the most diverse generation in American history in terms of race, ethnicity, and sexual orientation. Huh. I didn't know Gen Zs were strictly US citizens. Is that even true?And what's up with that second statement about diversity? It's really got nothing to do with the poll, and the injection of identity politics into a financial article really, really seems icky to me. Is there nothing in the media nowadays that isn't laced with this crap? Quote Broadly, this generation is progressive, pro-government, and activist-minded. Good; that means that as they grow older they're probably likely to become anti-government and more skeptical about the things they were brainwashed with as youths. At least I hope that's the case, because if it isn't we're in some serious trouble.Now here's the thing about those Gen Zs thinking they can become millionaires by dabbling in crypto: Some of them really are getting extremely wealthy by taking those risks the article talked about and investing in not only dogecoin but all sorts of altcoins and experimenting with oddball stuff like NFTs and such. So it's not as if they're out of their minds by believing in crypto as a cure for their financial woes, because when doge hit its ATH you know a bunch of people had to have just gotten rich. One thing I'm hoping for is that when the Gen Zs grow up and become our future politicians, they retain their fondness for cryptocurrency and don't try to regulate it to death (if that hasn't happened by the time the new generation gets elected to positions of power). I also think it's a great thing that youngsters have such a positive view about crypto. I don't understand that whole "pro-government" stance that I quoted above (if it's true), because part of the reason bitcoin is so valuable is because of all the damage governments have done to fiat currency and the world economy in general. Title: Re: A majority of Gen Z investors think crypto will make them millionaires, new surv Post by: cabron on December 08, 2021, 01:14:48 AM Crypto created the largest wealth distribution they say. But I don't think these guys are up for BTC really, they are all for making money and you can always just see them posting on social media with thier binance portfolio having SHIB and DOGE on it. They don't even have BTC.
Quote Gen Z, a group of about 72 million people in the US born between 1997 and 2012, is the most diverse generation in American history in terms of race, ethnicity, and sexual orientation. Huh. I didn't know Gen Zs were strictly US citizens. Is that even true?And what's up with that second statement about diversity? It's really got nothing to do with the poll, and the injection of identity politics into a financial article really, really seems icky to me. Is there nothing in the media nowadays that isn't laced with this crap? Quote Broadly, this generation is progressive, pro-government, and activist-minded. Good; that means that as they grow older they're probably likely to become anti-government and more skeptical about the things they were brainwashed with as youths. At least I hope that's the case, because if it isn't we're in some serious trouble.Now here's the thing about those Gen Zs thinking they can become millionaires by dabbling in crypto: Some of them really are getting extremely wealthy by taking those risks the article talked about and investing in not only dogecoin but all sorts of altcoins and experimenting with oddball stuff like NFTs and such. So it's not as if they're out of their minds by believing in crypto as a cure for their financial woes, because when doge hit its ATH you know a bunch of people had to have just gotten rich. One thing I'm hoping for is that when the Gen Zs grow up and become our future politicians, they retain their fondness for cryptocurrency and don't try to regulate it to death (if that hasn't happened by the time the new generation gets elected to positions of power). I also think it's a great thing that youngsters have such a positive view about crypto. I don't understand that whole "pro-government" stance that I quoted above (if it's true), because part of the reason bitcoin is so valuable is because of all the damage governments have done to fiat currency and the world economy in general. Many of them see altcoins will grow just as how ETH grew. They didn't even send thier coins out of the binance so yes it's a positive outlook still to crypto. And whether they grow old or not after looking at what the government had done to fiat, they put thier hope on crypto to survive this health crisis because they've seen it happen. Many got richer, its financial freedom through play to earn games which the information spread on social media. They are the newer generations that will come to crypto. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: Obito on December 08, 2021, 03:50:29 AM That's because there's a lot of influencers on the Internet preaching that cryptocurrencies is the number one solution to someone's problem, I mean those people shill shitcoins and it's not far from thinking that some Gen Z kid would see that video and think that they might be able to make a living out of this cryptocurrencies when in reality, the market is unforgiving.
Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: btc_angela on December 08, 2021, 04:48:08 AM That's because there's a lot of influencers on the Internet preaching that cryptocurrencies is the number one solution to someone's problem, I mean those people shill shitcoins and it's not far from thinking that some Gen Z kid would see that video and think that they might be able to make a living out of this cryptocurrencies when in reality, the market is unforgiving. Yeah, one example of social media is Tiktok, you can see there that there are a lot of Gen Z preaching crypto and telling everyone is the easiest way to become a millionaire. But I think they are all wrong, because they don't know how volatile crypto is. And the funny thing is, when crypto is all up, you can see them making videos and talking about it. But when it's down, you can't even hear a pin drop and those influencers suddenly disappear, LOL. In any case, still boils down how this Gen Z are going to take crypto, maybe some will become smart investors and will HODL while others when they saw their money grow will simply wasted it on things that they didn't need to buy in the first place. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: cabron on December 08, 2021, 05:00:26 AM That's because there's a lot of influencers on the Internet preaching that cryptocurrencies is the number one solution to someone's problem, I mean those people shill shitcoins and it's not far from thinking that some Gen Z kid would see that video and think that they might be able to make a living out of this cryptocurrencies when in reality, the market is unforgiving. Exactly. A 16-year-old kid earning more than $1000 a week from the games he plays providing tips on youtube on how to do it will really make the ears of his peers listen. Even the 40-year-old man was amazed at it that he also invested in the AXIE game. After learnings SLP, they also look at the rest that is listed on Binance. Its unforgiving but what's amazing is that even after a price correction, Gen Z is still are there buying more. Everybody learns when people say buy the dip. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: davis196 on December 08, 2021, 07:09:32 AM We don't need a survey in order to know that young people:
1.Love risk more than the old people. 2.Are more open towards digital stuff and new technology than old people. The survey is mentioning crypto,not Bitcoin. Crypto can be anything-shitcoins,shit tokens,NFTs,HYIP investment scams,ICO scams,DeFi scams... Thinking that investing in such an obscure industry as the crypto industry(without any proper research) will make you a millionaire is simply delusional. Also thinking you can become rich just by buying a coin and waiting for it's price to pump 1000 times is totally delusional. Bitcoin and crypto(whatever the term "crypto" means) have plenty of room for growth in the USA. However,this survey proves that the majority of young people in the USA lack financial education and experience with managing their wealth and investments. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: raidarksword on December 08, 2021, 09:53:28 AM This is the comment misinformation to these new generations because the influencers itself is just shilling and making false information to its supporters that crypto is an instant solution to become a millionaire. Which is not true at all, crypto is risky and it can end up broke or rich instantly. Patience is the game on crypto industry, hold is the key to become successful.
Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: Obito on December 08, 2021, 10:40:22 AM ~snip Its unforgiving but what's amazing is that even after a price correction, Gen Z is still are there buying more. Everybody learns when people say buy the dip.Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: Haunebu on December 08, 2021, 10:49:04 AM Makes sense since I am one of them. I do believe that I can become a millionaire by trading cryptocurrencies though factors like patience, luck etc matter a lot in this case.
However, I disagree with some parts of the article(Pro-government etc). Most Gen Z investors are rebelling against their respective governments through cryptocurrencies and not supporting them. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: ultrloa on December 08, 2021, 10:52:45 AM Don't be surprise if this is what new generation thin about it since this is what information feed them by some social media influencer and little part is the hype brought by the mainstream media especially when there's a bull market run happening. That's why we also see that many new got scam since they think about that the platform they invest their money can give them huge wealth or can make it as passive income generator.
Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: kryptqnick on December 08, 2021, 11:06:21 AM When I see surveys like this, I always wonder how representative they truly are. The article's also written in quite a cherry-picking way. For example, take a look at a simple one-page summary (https://s3.amazonaws.com/media.engineinsights.com/2021/11/US-Pulse-Infographic-Series-11-16-2021.pdf) of the survey, and you'll see that the article doesn't mention that on the question of investment instruments, the most popular response for Gen Z is actually stocks, and the same goes for millennials. Also, real estate is almost as popular among Gen Z and millennials as cryptos are, and a slightly higher percentage of millennials than of Gen Z chose cryptos. Given this summary, it doesn't really look like Gen Z is so special, really, and that cryptos are so popular among them.
Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: Poker Player on December 08, 2021, 11:07:18 AM I've got mixed feelings about this.
And I think they are more negative than positive. On the one hand, I think in that generation there are a lot more people who can understand what Bitcoin is and how it helps us to get rid of the clutches of governments and central banks to some extent. But on the other hand, I think the majority of that generation doesn't see it that way. They just want to be millionaires with minimal effort. Playing games from home and recording bullshit. The fact that they talk about crypto and not Bitcoin makes me think that for most of that generation it is not a question of ideology but of wanting to make a killing. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: lovesmayfamilis on December 08, 2021, 12:24:01 PM All the years that are determined by Generation Z are associated with the development of computer technology. And of course, here one cannot but recall bitcoin and cryptocurrencies. The youngest areas of technology, of course, fall on the age of young people. And I agree that there will be many millionaires among them, but it's hard to imagine that among all of them. Only those who have the time and desire to study, to develop their knowledge and experience will become a gatherer. Even today, investing in bitcoin and managing these investments correctly for several years promises profit to young people.
But to round off that they are all sitting on sofas, and without acquiring any knowledge, but only hanging out on social networks and in online games, they will become rich, I think this is ridiculous. The one who makes great efforts to his win always wins. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: molsewid on December 08, 2021, 12:54:50 PM All the years that are determined by Generation Z are associated with the development of computer technology. And of course, here one cannot but recall bitcoin and cryptocurrencies. The youngest areas of technology, of course, fall on the age of young people. And I agree that there will be many millionaires among them, but it's hard to imagine that among all of them. Only those who have the time and desire to study, to develop their knowledge and experience will become a gatherer. Even today, investing in bitcoin and managing these investments correctly for several years promises profit to young people. But to round off that they are all sitting on sofas, and without acquiring any knowledge, but only hanging out on social networks and in online games, they will become rich, I think this is ridiculous. The one who makes great efforts to his win always wins. I must say that Gen Z were so lucky that they catch up this cryptocurrency the younger they are because today the more you are knowledgeable about technology and new trending digital platform the more you can join and ride the trend and the better possibility and opportunity for them to earn a profit. I do agree with the thought that investing in crypto will make them millionaire however it's very risky and at the same no assurance. It's a constant learning process I think it mist be safe to safe the many you have a knowledge about crypto the more profit that you can earn. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: Gyfts on December 08, 2021, 02:56:54 PM When I see surveys like this, I always wonder how representative they truly are. The article's also written in quite a cherry-picking way. For example, take a look at a simple one-page summary (https://s3.amazonaws.com/media.engineinsights.com/2021/11/US-Pulse-Infographic-Series-11-16-2021.pdf) of the survey, and you'll see that the article doesn't mention that on the question of investment instruments, the most popular response for Gen Z is actually stocks, and the same goes for millennials. Also, real estate is almost as popular among Gen Z and millennials as cryptos are, and a slightly higher percentage of millennials than of Gen Z chose cryptos. Given this summary, it doesn't really look like Gen Z is so special, really, and that cryptos are so popular among them. Thought the number was fairly large, this explains it. Stocks will remain the most popular investment for Gen Z'ers and millennials because of how much the Robinhood type crowd makes up these young investors. You can become a stock trader by owning a smart device and the first stock is free on most of these platforms. Granted these companies also allow crypto trading in addition to stocks, but still, crypto investments aren't all that popular with younger people as one might think. There's still a long way to go. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: Lucius on December 08, 2021, 03:32:26 PM I will not go into the methodology of survey and the eternal assumption that the whole crypto world revolves around what someone or something will do in the US. I would rather look at the fact that these young people, no matter what letter they are marked, live in a large percentage in a world of illusions where they can solve all their problems just by looking at small and large screens showing various charts and figures that will turn them into millionaires.
If the majority of Generation Z in the world chose that path, then who would do the usual jobs - produce food, take care of water supply, waste collection, work in shopping malls? Maybe all these jobs will be done by some robots that haven't been invented yet, or all of them, when they get rich, will buy a one-way ticket to Mars with EMeXpress ::) Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: Dragonfund on December 08, 2021, 03:58:23 PM An average holder of Bitcoin and other Altcoins worth $1k should be in a millionaire expecially my local currency that has devalue over time.
That survey shows nothing but truth because that's exactly what it has done for many over years particularly the holders and also shitcoins buyers. 8) 8) They can all attest to this that crypto is the best hedge against inflation and very great alternative than giving your money to banks that may stop you from withdrawals when you needed your money without profit. Infact, I think why we have fear of missing out that always led to pump of projects, everyone want to cash out in millions. Title: Re: A majority of Gen Z investors think crypto will make them millionaires, new surv Post by: stompix on December 08, 2021, 04:15:06 PM And what's up with that second statement about diversity? It's really got nothing to do with the poll, and the injection of identity politics into a financial article really, really seems icky to me. Is there nothing in the media nowadays that isn't laced with this crap? Business insider has gone downhill for a while and now they are digging at the bottom of the valley with this crap when the most popular articles are about Trump even right now....half of their articles about race and sexual orientation, businesses it's just in the name. I would rather look at the fact that these young people, no matter what letter they are marked, live in a large percentage in a world of illusions where they can solve all their problems just by looking at small and large screens showing various charts and figures that will turn them into millionaires. I'm amazed by the fact they don't understand that they will not become millionaires unless someone who HAS millions will help the market grow to the level they need for them to get rich. If a bunch of kids with 10$ in their pocket will be the only investors that will be the price of Bitcoin also, you need money, serious money for the price to move, for god's sake we need $50 million a day just for the newly minted coins, without serious backers, there is no way somebody who invests 100$ will ever manage to get even $1000. So unfortunately for the daydreaming generation Z, they will need a lot of poeple from generation A to get their dreams even 1% close to fulfillment. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: Wexnident on December 08, 2021, 04:16:35 PM It isn't that odd imo. A lot of people that showcase their crypto wealth are often assumed to have had an automatic path where they just entered crypto and got rich instantly. Even I would assume as such if I was ignorant since all a person would be seeing is people being successful, and not the other way around. Honestly just seeing how Bitcoin's growth went from its decade experience, any ignorant person would instantly assume that either Bitcoin is a scam, or that anyone who does crypto is an extremely rich person.
Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: Oasisman on December 08, 2021, 04:53:11 PM Goodluck for their beliefs about becoming a millionaire by entering the crypto market.
Investing into different kinds of platform or even business has a very similar situation in terms of financial status of the people who have been involved into one of these investments. There are those who become rich, crazy crazy rich, and those who became poor and bankrupt, and those who gained nothing and give up. Well, it's not really bad If these GenZ people are so optimistic about crypto, it's just that these beliefs might turn into frustration and disappointment. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: fiulpro on December 08, 2021, 06:09:56 PM Not exactly crypto investments perse I would say but there are many other things that might work for the GenZ since we have a lot of NFT hyper and also at the same time with the new rules the gas fee might be paid by the buyer instead of the producer. So I do think we might have small side investments that are dependent on crypto as well.
Becoming a millionaire is not something that might work but there are things like investing and learning a bit about the decentralized businesses which might make them financially more stable and independent for the time being. Also at the same time it could help them earn a bit as a side income. They just need to be properly monitored and educated about the cryptocurrencies. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: Sterbens on December 08, 2021, 06:43:44 PM For generation Z, it is only the internet space that makes them so active and loves the source of finance they generate. Compared to those of us who have reached the final stage of the Millennial generation due to age. However, we are still aggressive in terms of the investment world. sometimes Gen Z is still filled with a lot of innate things. Get carried away by the trade atmosphere and also difficult to control. it is undeniable who else if not them will continue the glittering world of investment, especially in crypto investment. Making money from the way how they react to investment, of course the most important guideline is not to let them be easily controlled by the government. I prefer to call them Post Millennials.
Title: Re: A majority of Gen Z investors think crypto will make them millionaires, new surv Post by: Silberman on December 08, 2021, 07:20:06 PM Now here's the thing about those Gen Zs thinking they can become millionaires by dabbling in crypto: Some of them really are getting extremely wealthy by taking those risks the article talked about and investing in not only dogecoin but all sorts of altcoins and experimenting with oddball stuff like NFTs and such. So it's not as if they're out of their minds by believing in crypto as a cure for their financial woes, because when doge hit its ATH you know a bunch of people had to have just gotten rich. You touch a point that I have always considered to be key, the previous generations like Peter Schiff do not or can not understand bitcoin, they see it with suspicious eyes as it is a threat to what they know, and we know that one of the basic reactions to something you do not know is to fear it and as such to try to destroy it, but new generations would have grown in a world in which bitcoin always existed and they will just see it as a natural part of their lives, so we need a generational change to see the adoption of bitcoin that we want, this means this is a process that will take decades, and while this will be disappointing to some, to me it means that bitcoin being recognized and adopted all over the world is inevitable.One thing I'm hoping for is that when the Gen Zs grow up and become our future politicians, they retain their fondness for cryptocurrency and don't try to regulate it to death (if that hasn't happened by the time the new generation gets elected to positions of power). I also think it's a great thing that youngsters have such a positive view about crypto. I don't understand that whole "pro-government" stance that I quoted above (if it's true), because part of the reason bitcoin is so valuable is because of all the damage governments have done to fiat currency and the world economy in general. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: paxmao on December 08, 2021, 09:08:55 PM my take is that many "investors" are not investors, but people who are placing a bet on crypto. Yes, it can be bitcoin or any other, including those that have a zero percent probability of success. If everyone thinks they will become millionaires then most are wrong or, what is even worse, everyone will be a millionaire and the the world will go into an hyperinflation until everyone is again... poor. :)
You see, in Spanish, Million is similar to "millon" and means the same, however "aire" means air. So, Millionaire would be a million ... airs. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: Gozie51 on December 09, 2021, 09:12:41 AM or, what is even worse, everyone will be a millionaire and the the world will go into an hyperinflation until everyone is again... poor. :) You see, in Spanish, Million is similar to "millon" and means the same, however "aire" means air. So, Millionaire would be a million ... airs. Lol that is not going to happen that everyone becomes rich or everyone becomes poor ;D There must be the rich and the poor and that depends on destiny and the plan or road an individual follow. In the bible story, there are rich and the poor and that is why it made reference to the rich man and Lazarus who was seen as the less privileged. Abraham too was regarded as a very rich man. So in today's world, our attitude towards our investment and idea is key because in few years time, the whole prices of coins won't stay on same level. Investing wisely is important . Title: Re: A majority of Gen Z investors think crypto will make them millionaires, new surv Post by: Lucius on December 09, 2021, 09:56:45 AM I'm amazed by the fact they don't understand that they will not become millionaires unless someone who HAS millions will help the market grow to the level they need for them to get rich. If a bunch of kids with 10$ in their pocket will be the only investors that will be the price of Bitcoin also, you need money, serious money for the price to move, for god's sake we need $50 million a day just for the newly minted coins, without serious backers, there is no way somebody who invests 100$ will ever manage to get even $1000. So unfortunately for the daydreaming generation Z, they will need a lot of poeple from generation A to get their dreams even 1% close to fulfillment. Just a few success stories are enough to convince them otherwise, because it is not only about someone investing $10 or $100 in some altcoin that will then experience a real boom in the next few years, but these people are encouraged to be enterprising and create some cryptocurrency which they will then try to sell to others as the next big thing. Judging by the number of cryptos that, according to CMC, have exceeded 15 000 at the moment, I believe that many of them are going in that direction. Money drives the world, the crypto market is no exception, and the sooner they realize it, the better for them - otherwise, there will be many who will be left with empty pockets and with great disappointment. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: magneto on December 09, 2021, 10:15:00 AM This is precisely what is dangerous about the current bull run.
These people are entirely missing the point of crypto. Crypto isn't a tool to make you rich or anything like that, but rather a store of value and a hedge against the fiat economy. It's not a sexy get rich quick tool no matter how many people seem to love that idea. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: el kaka22 on December 09, 2021, 01:53:35 PM I mean, are they wrong? Considering how the previous generations ended up saving their money and buying boring stuff and still ended up being millionaires, I am guessing that the current generation found theirs and will get it. What you gotta realize is that all of that money has to go somewhere, people who are 70+ years old right now will not end up living forever, they are going to pass away in 3-5-10-20 or whatever years, which will go towards next generation and that will go to next and next and that is how the system works.
We are all going to be as rich as the previous generations when all of that is left to us. God forbids and gives them all the years there is, but humans are not immortal and money is inherited. Ruthless as it may sound, if old people are millionaires, then younger ones will eventually be millionaires one day as well. This could be from anything, and fi Gen Z picked crypto for their investment then so be it. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: Sayeds56 on December 09, 2021, 02:30:15 PM This is precisely what is dangerous about the current bull run. These people are entirely missing the point of crypto. Crypto isn't a tool to make you rich or anything like that, but rather a store of value and a hedge against the fiat economy. It's not a sexy get rich quick tool no matter how many people seem to love that idea. Whatever you said about utility of crypto is very true and I am also in habit to go in deep details of crypto project before I jump into it and this is professional way to invest your hard earned money but new entreats in crypto don't want to go in all these theoretical explanations. They simply want to get quick rich with less effort and their perception is somehow right as we have witnessed crypto changed fortune of many people in family and friends circle but I think it only happens with early birds in any new Technology. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: oHnK on December 09, 2021, 02:55:39 PM I mean, are they wrong? Considering how the previous generations ended up saving their money and buying boring stuff and still ended up being millionaires, I am guessing that the current generation found theirs and will get it. What you gotta realize is that all of that money has to go somewhere, people who are 70+ years old right now will not end up living forever, they are going to pass away in 3-5-10-20 or whatever years, which will go towards next generation and that will go to next and next and that is how the system works. Yeah, When the gen Z will be the next future leader of our country and the old generation has been replaced by them, the development of Bitcoin and others crypto will be guarantee because the majority think this is the answer for them to be richer than before. So, anything which is disturb them, they dont care and go forward. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: Snappycoco on December 09, 2021, 03:07:56 PM I belong to this generation and I can say that this survey is quite accurate. I have met bitcoin way back 2014 yet I doubt in investing to it. And sadly, got my regrets during the rally last year. After that I focused in finding the next moonshot coins by reading here in the forum. I somehow agree that I really think that crypto could make my financial status move upwards. I saw how a 10K$ could make billions with memecoins and its quite tempting.
Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: barabarian1 on December 09, 2021, 03:24:12 PM i think, the other generation will think about this one because they know what cypto is earlier (maybe), but also have bigger range than younger.
we know if you need the process to get something, and it cant give you in one night, they need many time to grow, but i know if in this crypto world, people play their luck and it can happen in a day. as a member, we must take a positive observation and good act in every move to widen the gap between failure. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: stompix on December 09, 2021, 04:15:16 PM I mean, are they wrong? Considering how the previous generations ended up saving their money and buying boring stuff and still ended up being millionaires, I am guessing that the current generation found theirs and will get it. What you gotta realize is that all of that money has to go somewhere, people who are 70+ years old right now will not end up living forever, they are going to pass away in 3-5-10-20 or whatever years, which will go towards next generation and that will go to next and next and that is how the system works. Yeah, it worked perfectly in Venezuela, where are all those riches from the 80s now? And it's not just in those extreme cases, look in Europe, the number of homeowners has dropped here in the last decade from 71% to 65%, so this continuous inheritance thingy is not really transmitting all the value, just how if your grandfather has a car it doesn't mean you're going to have one guaranteed. Besides, as Lucius mentioned, if all of generation z will become millionaires by putting 10$ in a token and watching the screen all day, be prepared to pay a billion to the guy who will bring you pizza when it's raining outside ;D Yeah, When the gen Z will be the next future leader of our country and the old generation has been replaced by them, the development of Bitcoin and others crypto will be guarantee because the majority think this is the answer for them to be richer than before. When the development of Bitcoin will be driven by profit alone this is the moment it will fail. Look through Satoshi's posts and find whee he mentioned rich, profit, and price, you might be disappointed. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: BITCOIN4X on December 09, 2021, 04:54:58 PM Can we think that the growth of crypto is more due to people's desire to get rich quick through investment than the innovation that comes with it?
I don't blame people whose main goal is to generate high ROI when involved in the crypto space especially on investments. But when people's interest in crypto is only to make big profits then its adoption as a legitimate currency will be increasingly ignored by it. In the survey above, I think the main media that becomes the research variable is crypto (altcoin investment) not bitcoin. If this is also the case with bitcoin, then I think its adoption will be slower in the future as most people just use bitcoin as a popular medium to generate profits as opposed to currency or means of payment. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: Kakmakr on December 09, 2021, 05:02:38 PM I think it has more to do with the timing of the introduction of Crypto currencies in a period of their live where they are still young and inquisitive and still exploring high risk investment options. They were at just the correct age to experience the 2017 price Spike and all the subsequent price spikes after that.
These price spikes fed their hunger for "quick riches" ..which is very common in a social media environment, where they see average people making millions from social media hype. (Example : Mr Beast) ::) - Digital riches! Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: ivankoh on December 09, 2021, 05:13:56 PM Bitcoin has the ability to make participants rich -> high rate. But I don't think it's easy for all crypto space. It is not necessary to define them as Z investors, they have the right to create hope with bitcoin and crypto but it is more abused with time. Respecting them is much better than the old Warren Buffett way. It's the old-fashioned investors who create the evils that bitcoin faces against the ever-present money-printers. Lol
Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: Gorosden on December 09, 2021, 05:36:59 PM Honestly this topic is on point, I was brainwashed with changing my life in one swing shot at crypto this year and I was sitting on huge gains but the idea of making it big seized me down thinking I deserved more and I watched the good money slowly faded away, I invested 2000$ and made 22,000$ and still failed to take profits, now the profits are gone I ended selling at 4000$ when I can't stand it anymore
Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: Zanab247 on December 09, 2021, 06:11:58 PM Crypto investment is different from fiat business which you cannot predict and start seeing the results coming instantly. Crypto investment has rules and regulations that guide the community which you must have to obey before you can achieve something from your investment. For you to become a millionaires in crypto investment you must have all the experience how to use long term and short term investment to make a huge amount of money.
If you are used to crypto trading in the community you will know that, it take a long process for anyone to become the richest man in the country with crypto investment. Crypto can help you to improve your capital and boost your knowledge which will enable you to understand crypto investment very well in the community. Title: Re: A majority of Gen Z investors think crypto will make them millionaires, new surv Post by: RealMalatesta on December 09, 2021, 09:40:12 PM Just a few success stories are enough to convince them otherwise, because it is not only about someone investing $10 or $100 in some altcoin that will then experience a real boom in the next few years, but these people are encouraged to be enterprising and create some cryptocurrency which they will then try to sell to others as the next big thing. Judging by the number of cryptos that, according to CMC, have exceeded 15 000 at the moment, I believe that many of them are going in that direction. Gen Z is called to people who were born a bit before 2000 and a bit after 2010, thats the age we are going to have voters, probably already did in most nations many times already. Which means that we are talking about old enough people to who either go to college or even maybe early in their first job. Mark Zuckberger started facebook when he was just 18-19 or something like that right? Maybe not every GEN Z will become a millionaire thanks to bitcoin, but it is surely possible for some of them to do that.Money drives the world, the crypto market is no exception, and the sooner they realize it, the better for them - otherwise, there will be many who will be left with empty pockets and with great disappointment. Imagine a few rich parents giving some money to their kids, they are capable of investing that into crypto, do that in 2019 and do it until 2022 and we are talking about so many chances to become millionaires from just a few thousand dollars. Plus, they are capable of building their own tokens as well, they are hyped about it and that means we are talking about making some profit by selling their own tokens or NFT's these days. It is totally possible, not all of them have 10 bucks. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: carlfebz2 on December 09, 2021, 09:46:13 PM Crypto investment is different from fiat business which you cannot predict and start seeing the results coming instantly. Crypto investment has rules and regulations that guide the community which you must have to obey before you can achieve something from your investment. For you to become a millionaires in crypto investment you must have all the experience how to use long term and short term investment to make a huge amount of money. Sooner or later they would realized off things when reality do slaps them into their faces and this isnt something a magical investment where it couldIf you are used to crypto trading in the community you will know that, it take a long process for anyone to become the richest man in the country with crypto investment. Crypto can help you to improve your capital and boost your knowledge which will enable you to understand crypto investment very well in the community. make you rich overnight which is the most common perception of new people whenever they do step their foot into a new thing or market. They dont even know on how this market works at first but if they will experience it on their own then this is where insights and beliefs do change up. This isnt how simply as it looks and you would need to be smart and be wise. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: V-t.Ester on December 09, 2021, 11:01:04 PM Children from Generation Z are completely different. They are confident that the entire world owes them. So when they say that investing crypto can make from them millionaires, they have a great believe in this. In general they are right. It’s so easy to become rich with crypto if only to know what to invest and when. But on practice it’s completely different especially if to have no knowledge’s and skills in trading and only 100 $ start-up capital.
Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: im posible on December 10, 2021, 01:44:59 AM They can be very optimistic because they are still young and have not collided with the various realities around them. Compared to previous generations, Gen Z is the generation that has the most potential for the development of blockchain and cryptocurrency technology because they were born with various technological facilities that have developed rapidly. It's just a matter of how Gen Z manages these potentials to succeed in the cryptocurrency world.
Title: Re: A majority of Gen Z investors think crypto will make them millionaires, new surv Post by: Lucius on December 10, 2021, 11:46:01 AM Plus, they are capable of building their own tokens as well, they are hyped about it and that means we are talking about making some profit by selling their own tokens or NFT's these days. It is totally possible, not all of them have 10 bucks. But is it justified and moral to create some tokens and sell them with false promises like people do today? There is no doubt that some will get rich on it, but for one man to get rich, a lot of people have to invest in his project, and if 90% of such projects end in failure do those who create them are actually just ordinary scammers and nothing more? I want to say that cryptocurrencies have become a means to some kind of success overnight, but that in all this there are simply too many scams, false promises and big misconceptions that will end up doing more harm than good. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: Mauser on December 10, 2021, 12:35:57 PM Very nice to see that generation Z believes so strong in crypto currencies. Being optimistic about the future of Bitcoins is good. I am sure we will see a rising number of crypto millionaires in the near future. But we should also be realistic with our expectations because just buying a few crypto coins is not going to make them millionaires. Sure there are some who invest heavily and will make it, this of course also requires luck. How could a large part of a generation become millionaires, this would only happen if the purchasing power of the money drops rapidly. To become very rich it requires sellers on the other side to actually sell their goods for it. This requires a large number of merchants with the will and means to buy all those cryptos.
Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: abhiseshakana on December 10, 2021, 02:46:23 PM Very nice to see that generation Z believes so strong in crypto currencies. Being optimistic about the future of Bitcoins is good. I am sure we will see a rising number of crypto millionaires in the near future. But we should also be realistic with our expectations because just buying a few crypto coins is not going to make them millionaires. Sure there are some who invest heavily and will make it, this of course also requires luck. How could a large part of a generation become millionaires, this would only happen if the purchasing power of the money drops rapidly. To become very rich it requires sellers on the other side to actually sell their goods for it. This requires a large number of merchants with the will and means to buy all those cryptos. The new world order is the digital world, digital economy, digital payment, digital living. We also all know that the millennial generation Z and the generations below are digitally connected generations, or can be called gen C. But their optimism is not only in crypto but more on investing in something digital. They automatically think the digital thing is fast, sped up, which means an income explosion for them. Investments in shares of financial sector companies and mutual funds are still a favorite investment for millennials. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: so98nn on December 10, 2021, 03:01:44 PM So isnt that is good news for the crypto currency world? I mean if so called Gen Z is all into bitcoin and altcoin then they would be looking after that stream itself. I mean some of them would start right off with their education as blockchain developer and some might be starting to invest their first instance from their teenage itself. This will actually drive the crypto space to whole new era. If these kids gonna be the next pro-government then hell ya, no more crypto bans, no more fuss about whether crypto is gonna be their or not!
Moreover, these Z's are already facing the issues as we speak by looking at different problems around us. The crypto is heck in bad condition right now and I gotta say they will be the once who will recover it with whole new ideas. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: Fortify on December 10, 2021, 09:02:08 PM Quote It sometimes seems crypto is minting new millionaires by the day, particularly those with the stomach to dabble in the risky world of altcoins. The most famous of these — like doge and shiba inu — have produced some eye-watering returns in 2021. It's no surprise then that investors are flocking to the space with dreams of quick riches, and Gen Z investors, in particular, think crypto will make them millionaires, a recent study by research and data analytics firm Engine Insights showed. Nearly two-thirds — 59% — of Gen Z respondents to the survey believe they could become wealthy by investing in cryptocurrencies. "This generation has a greater acceptance and comfort with all things digital, so not surprising that would be more comfortable with crypto," Kathy Sheehan, SVP at Cassandra, a division of Engine, told Insider. "This generation has a lot of concerns about debt and finances." A confluence of factors, from the rising costs of real estate to college education could be to blame, Sheehan told Insider. Inflation reaching 30-year highs has only reinforced the appeal of crypto as the weakening of fiat money dominates headlines. "They feel that everything financial is harder for them than it was for previous generations," Sheehan said. "Couple that attitude with more of an appetite for risk, it is not surprising that they are hoping for a quick fix or return." Bolded and highlighted some of the most relevant parts. The question is often asked: has bitcoin achieved mass adoption. Numerous statistics and numbers have been cited over the years, in an effort to claim bitcoin and cryptocurrencies have made it big. Our latest offering here claims 57% of generation Z believe crypto is a good method of building wealth, with that segment of the population numbering around 72 million in the USA, roughly 22% of the total US population. What's interesting about generation Z is the right wing claims they are the most conservative generation in many years, while others claim they are the most progressive and left wing generation. There is some dispute as to exactly what generation Z think and believe, which will undoubtedly be resolved eventually. That said its always great to see people acknowledging the positive role cryptocurrencies can play in society. Everyone wants to become rich while putting in a minimal amount of effort, but for 99.99% of people who become rich it is a long and slow road to success rather than waking up one day having bought a cryptocurrency at 0.00001 and having it run up to 0.01 to multiply your money by hundreds of percentage. Even then, people often don't realize that you need lots of money to make money and it can involve huge risk which people are generally very bad at calculating. I'd much rather keep putting money into an investment earning 10% per year consistently, than putting money into an investment which could double but is highly likely to collapse to a fraction of the original investment. Younger generations do have an advantage of time however, which allows them to take more risk and learn from previous mistakes over time. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: sana54210 on December 11, 2021, 02:48:05 PM Very nice to see that generation Z believes so strong in crypto currencies. Being optimistic about the future of Bitcoins is good. I am sure we will see a rising number of crypto millionaires in the near future. But we should also be realistic with our expectations because just buying a few crypto coins is not going to make them millionaires. Sure there are some who invest heavily and will make it, this of course also requires luck. How could a large part of a generation become millionaires, this would only happen if the purchasing power of the money drops rapidly. To become very rich it requires sellers on the other side to actually sell their goods for it. This requires a large number of merchants with the will and means to buy all those cryptos. That is all they have known, that's the difference. Oldest is estimated to be 22-24, there are some discussion about what is the exact date it should start but all in all they do not remember the time we had no crypto at all, even the oldest Gen Z doesn't remember it clearly, I mean they were under 10 years old and how much a kid would know about finances when they are under 10?So, it is hopeful for the future, anyone who grows up with bitcoin will love bitcoin and that is a great thing, I am hoping that we would be doing a lot better in the future, the more they grow the more they will earn and the more they earn the more they will invest and they will clearly pick bitcoin and other cryptos more than their elders did. This is the future for us. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: dezoel on December 11, 2021, 04:40:31 PM Yes a lot of people have that belief, but it’s not an easy thing for you to achieve these days. But anyways it can be achieved. It’s all about having patience for a long time, because it is not something that is going to happen in just a short time. If you invest in cryptocurrency now you will have to be patient for some time before it can work out; that is if you have plans to be just an investor. The market doesn’t go up all the time, it can go up and as well decrease at times.
So if you invest, you will have to be patient and hold it for a long term, because that’s when you will stand a better chance at making money through cryptocurrency. Another thing is that you will have to invest a reasonable amount that you know would be worth a lot when it increases. Because if you invest just a little amount of money, then it’s not going to be worth that much. It’s all about how much you’re able to invest. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: amishmanish on December 11, 2021, 05:16:02 PM As per the definition (1997-2012), the oldest among them are only 24 while the youngest are just 9 years old. So lets talk about the group that has ACTUALLY started to care about money, Say 16 to 24. Take away the TikTokers and the influencers coz they belong to the group of people that are present in every generation, the kind that love to get rich by cashing in on the naivete of others.
That leaves a bunch of confused teenagers and young adults who have only just started earning and saving money. A lot of these people are actively developing on crypto but most of them are being guided by people with much more experience than them. Most of that money is also being made by the far more experienced traders and VCs playing the mind-games with them that lead to pumps. As far as i can tell, the Gen Z is just liquidity. Also, did someone tell them that their millions don't really count till they are either in BTC or they have them in the bank (after paying taxes if they don't want to get caught whenever the "Empire Strikes back"). Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: Sayeds56 on December 11, 2021, 05:58:13 PM Honestly this topic is on point, I was brainwashed with changing my life in one swing shot at crypto this year and I was sitting on huge gains but the idea of making it big seized me down thinking I deserved more and I watched the good money slowly faded away, I invested 2000$ and made 22,000$ and still failed to take profits, now the profits are gone I ended selling at 4000$ when I can't stand it anymore True. Profit is what you convert it into stable coins and get it transferred to your Bank account. The crypto market is extremely volatile and Profit come quickly and disappear even faster than they come. Crypto space is a wonderful world where you witness surprise every day. This is also true that crypto has changed fortune of early birds but new entrants in crypto need to be very informative and technically skilled to make profit. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: pinggoki on December 11, 2021, 06:15:42 PM It's because of all these crypto influencers that flex and flaunt their cash, their trades and brag about how they wake up at 5 am is causing all of this false belief that cryptocurrencies are a gateway to making lots of money in a short time, these egomaniac people impose a belief that everyone can be a millionaire and that cryptocurrency will change their life but we all know better than that and we know that it's not the case. There's no cure or solution to this problem, the people who believe these narcissists have to experience a big L and hopefully have some reflection and self discovery will spark among them that will make them think that what is effective for others might not be for me.
Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: AmoreJaz on December 12, 2021, 02:44:14 PM It's because of all these crypto influencers that flex and flaunt their cash, their trades and brag about how they wake up at 5 am is causing all of this false belief that cryptocurrencies are a gateway to making lots of money in a short time, these egomaniac people impose a belief that everyone can be a millionaire and that cryptocurrency will change their life but we all know better than that and we know that it's not the case. There's no cure or solution to this problem, the people who believe these narcissists have to experience a big L and hopefully have some reflection and self discovery will spark among them that will make them think that what is effective for others might not be for me. they will learn their lessons fast once they got in in the market. with those high hopes, it will be replaced by disappointment if they don't know what they are doing. they can easily lose money in this market if they don't even have the slightest idea when they start trading their money. this is why they need to be cautious with misleading endorsements esp those projects that are promising too-good-to-be-true ROIs, because more than likely that is a trap. in time, they will get what is it to be here in crypto market. there's more than meets the eyes so to speak. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: qwertyup23 on December 12, 2021, 05:46:29 PM Don't be surprise if this is what new generation thin about it since this is what information feed them by some social media influencer and little part is the hype brought by the mainstream media especially when there's a bull market run happening. That's why we also see that many new got scam since they think about that the platform they invest their money can give them huge wealth or can make it as passive income generator. Over the past years, new investment methods have been introduced into the world with people exploring different ideas and ways to earn money. After the rise of cryptocurrencies, mine coins have started to rise resulting into a 'pay-2-play' system (e.g. Axie Infinity) where people invest before they could earn money. It is but obvious that people under the generation Z are exposed to the innovative ways of earning investments in this day and age. Who knows that maybe in the next 5-10 years from now, another innovative method would be introduced that is also highly effective in rendering millions in profit depending on their investments. The point is, crypto was introduced in the height of the internet where people are slowly exposed to its long-term effects. Title: Re: A majority of Gen Z investors think crypto will make them millionaires Post by: Silberman on December 12, 2021, 06:31:17 PM This is precisely what is dangerous about the current bull run. Unfortunately this is nothing new at all and it is quite common, once a market grows for long enough then the average person sees the profits the early adopters got and they want the same for themselves, not understanding that those days are over and that now the days of slow but steady profits are coming, but since this is not what they want then they will take huge risks to try to get those same results, and we know that most of the time this will mean investing in shady projects which will lead them to achieve the opposite results they were looking for.These people are entirely missing the point of crypto. Crypto isn't a tool to make you rich or anything like that, but rather a store of value and a hedge against the fiat economy. It's not a sexy get rich quick tool no matter how many people seem to love that idea. |