Bitcoin Forum

Nowadays the “identity” of bitcoin is known well only amongst people, who are pretty much “into” the computer technologies and crypto-world. Others, especially the elder generation (people from 40’, for example), imagine bitcoin as something mysterious, fake and dangerous, though it is not. 
It’s technological contents are more than real and very helpful for the modern world. So, in terms of this situation, I would highly appreciate your help with coming up with easy and understandable lines for changing people’s thoughts and points of view on bitcoin. 

Sadly it's very hard to explain the concept of bitcoin and blockchain. Like every new technologies, generations are left behind and cannot grasp the full concept of these things. I think the best way of explaining it to someone is with visuals, you won't be able to with words only

For something which required a computer to mine it years back its always going to be people who are tech savvy. Even though i think bitcoin is now open to a wider generation of people its still going to be branded as nerd money.

Over time, some are treated like miserable money, but they are all stereotyped. People think they can not make a profit because they do not consider it a job. They will change their mind when they start using bitcoins themselves, you'll see!

Absolute nonsense.

I am over 40 years old, and I have been involved in bitcoin for nearly 6 years now.

My sister is more than 40 years old and she has owned and used bitcoin for more than 4 years now.

I have a co-worker that is more than 40 years old and, prior to working at this company with me, he worked for a company that paid his salary with bitcoin.

My father is more than 60 years old and he has owned and used bitcoin for more than 4 years now.

I don't personally know ANYBODY less than 30 years old that has any bitcoins at all, or that is involved in any way with bitcoin.

It is somehow hard for them to accept and understand things about technology and especially how transactions evolved in the past years. This is true here in my place because many people here are not into technology. I know some few people who invest in bitcoin but they are Information technologists and computer scientists so technology especially the knowledge about the blockchain is not new for them

I have to agree with Danny on that. The majority of the people who approach me for help with Bitcoin is over 40 years of age. The

younger generation get bored very quickly and jump from one tech to the other to be hip and cool. {that is what the kids says} I

think many of the older people are nearing pensionable age and they are thinking of ways to supplement their pension or

retirement savings. {Younger people have the luxury of time in their favour, so they not really bothered with investments that

gives fast returns}  ::)

Got the impression that crypto is indeed predominantly a millennial thing. The older generation (40+) doesn't tend to dive into new technologies immediately; we've seen that with mobile phones, the WWW and now with cryptocurrencies. Perhaps you could 'coax' people into crypto by telling 'em certain organizations already have committed to this new phenomenom.

If you go to a Bitcoin meetup, you will see more older people than younger people.

Most of the kiddies I know, have nothing to do with Bitcoin and most people that invested are 40+.

Rightly Said the generation gap is a big hindrance as technological advancement is a major learning problem as they are not familiar with the components of cryptocurrencies and some don't even know how to operate computers too. Albeit teach savvy people won't face much difficulty. If they are given the opportunity to learn then they can surpass our skills and knowledge too.

Lol.  I'm over 40, and I wouldn't consider myself part of any "elder generation" just yet.  I've been using computers since well before the internet arrived, though I haven't exactly acquired any great expertise.  I chose to study other subjects in college, and that was probably a mistake.  Nevertheless,  bitcoin isn't just for the kids to play with.  Old farts such as myself know what it's about and like it just fine.

I've lived through and participated in asset bubbles before, too.  The bitcoin market right now is looking awfully bubbly to me.  I guess that's the skeptical old man in me saying that.

Just because you have two friends that are in their twenties and they are into bitcoin and your father is not it doesn't mean you have to generalize.

Just an example, Gavin should be around over 50 if I'm not mistaken right now.
Also the other supposed "father" of bitcoin Szabo should he also be far over 40 as he graduated in 89.

Actually most of the guys that have been involved in the first stages of bitcoin are more over 40 than below 40.
And as Danny said, I know guys that are interested in BTC who are over 30 but I don't have a single  aquitance that is around 20-25 and that has shown more than faint interest in BTC


Steve Jobs was 50 when Apple startd working on the Iphone and 52 when the first one was launched.

That will need lots of efforts and training lessons to be carried out for the old ages. It's not easy to teach someone like the old one you are describing here because they won't get it clearly how it works. They hardly know the math behind the internet use then how could be possible to let them know about high end tech like blockchain. They will get confused and believe they will never pay money for something that they don't care about much.

He wasn't representative for people his age though. However, gotta admit my reply about BTC being a millennial thing was kind of a broad statement; everyone born between roughly 1980 and 2000 is apparently a millennial. The people I know who invested significantly in BTC are all - without exceptions - above age 30. (I'm 32 myself but too cautious to invest heavily btw)

That was pretty much the case with the elders. They are not that open-minded.They treat money coming from an unknown source to them as scam. It's really hard debating with them even though you got the right argument they wont still accept it.

I suppose it depends on how unwilling older people are to make their age an excuse to avoid keeping up with new technologies. I have a neighbor in her sixties who at least made an attempt to understand Bitcoin (bought a book I wrote about it). She says she still doesn't quite get get it, but at least she tried. And it wouldn't surprise me if some older people bought Bitcoin because they thought it was sort of like Paypal, only with digital tokens that are worth "real world" money. Others who have made a career in the technology sector might be more interested in making an honest attempt to understand it.

Oh hell *runs off to create a poll*

I'm firmly beyond 40. I have infected several people in their 60s and 70s with it and they all found it relatively straightforward to grasp the overall concept. They will also have experienced what it's like to live through an insanely inflationary phase along with banking disasters. Young first worlders will never have come across that so in certain ways they'll be less schooled in why it's important.

At this stage of the game I seriously doubt many young folks have enough free capital to be able to invest decent amounts. It's the oldies who have the cash.

The only Bitcoin fan I've met randomly in real life was far past 40 too.

It's a real phenomenon indeed, although, it doesn't only occur with Bitcoin, it occurs with everything that is digital/online. From online banking to browsing the internet, the older generation has trouble when it comes to online or computer related work. Many people over 40-50 are not used to technology, while almost everything requires access to the internet.

Explaining Bitcoin to most of the people of older generations won't possibly change their view towards it, most won't understand its concept, others will think it's a scam or it's a utopia to become a millionaire. The root of this issue is far broader, the older generations weren't born with computers and all this technology we have now.

If she can figure out how to use a discussion forum, tell her to send me a message.  I'd be happy to help her understand better.

You do realise that the people who are in their 40s,50s and sometimes beyond are the ones who built everything that surrounds current tech from the ground up? Mobile phones are now over 30 years old. They weren't developed by goblins and leprechauns.

Someone who is now 50 would only have been in their mid/late twenties when the internet started to become a thing.

Don't compare yourself and your acquaintances with possibly the majority of the population, at least most I've met have little knowledge of the internet and technology. It could be your area/country being more advanced in these sectors. It's not impossible, it's just not that often to come across. I've seen both ends in the exact same age group.

In light of the past experience we may say that introducing new technology amongst the people is difficult because new technology takes some time to fully introduce himself in an society and among people but if we examine the bitcoin history so we may easily conclude that bitcoin has not taken much time to introduce himself in a country/society as compare to other technology. I don’t think so that bitcoin and new generation has much gap between each other. 

Thank you for such lively responds to the topic, I really appreciate that. At first – I want to apologize, if my words insulted someone in any possible way, that’s not what I intended to do. To clarify – I raised up this question basing on the personal experience, but now I’ve got a glance on the another side of reality, from your responds.
Nonetheless, in my opinion, the question is still actual. I really want to change some people’s opinion about crypto-world, but I’ve not found perfect words for that…
Also, I think, this topic will be useful not only for me, but also for other forum users as well.

I suspect people in Europe and other countries "get" Bitcoin more than most Americans -- old and young. Something like half of all Americans never travel to another country, so multiple currencies are something they never deal with. In contrast, travelers are probably more familiar with the use of multiple currencies, exchanges, etc. That makes it easier for them to approach a new currency like Bitcoin I would imagine.

If I were you and everyone else’s, I will not assume that the one with younger generation are the one dominating the cryptocurrency are 40 years old and below. If there were s link for you to show about a chart about this particular issue this would be tackled easier. But we all know that statistics about bitcoin users age and gender are being studied for its anonymity features.

You are right that the elderly today are hard to believe in this trend. And if they believe they will also have difficulty using computers. So I see that the next generation of technology is the one who rules.uAnd maybe the community would be cashless. And the world has no conflict.

There is a saying that says something like for every dead person we advance a tiny step. People, especially older generations simply wont get it and never will. This is part of the reason why technology partly advances in waves.

I think that depends on the country. I know two countries pretty well, Germany and Argentina, and I got different impressions from the age structure of the Bitcoin community.

In Germany, I think most Bitcoiners are ~35 and above; many 50+ as well. Many come from communities related to fintech and trading, and some are "serious" investors that have a good salary and regularly use it as a "savings account" speculating on a price rise. There are also younger Bitcoiners, but they seem to be a minority. So I don't see a real generation gap here.

In Argentina it seems to be different. Here it is clearly the younger generation that has something to do with Bitcoin, although not all are twenty-somethings or teens, but I got the impression there are few over 50. This may have to do that most "non-techies" from the older generation in Argentina only recently (in the 5-10 years) got really connected to the Internet. I can imagine that in other "emerging" countries like India or China it may be similar.

What are we considering a kiddy? I mean im 24 and I would agree most people my age have zero idea what bitcoin is, but also most people in their 40s have no idea what it is either. If we take it a step futher I would claim but people my age and in their 40s dont even know what the S&P500 is. The vast majority of people are terrible with investing knowledge.

Yes, that might be true. But I believe in future the saying will be changed, for every new born the technology gets updated. An example for the same is the blockchain technology. To fulfill the needs of the growing population its not just possible with the traditional system and in such a manner can experience tremendous growth in technology over the upcoming years.

Basically, There are almost 1 Million Members of This Forum, and We do not know if all of members are continually Logging in.
In other words, there are people who uses Gadgets just to entertain themselves through Social media.
And we, who has the Ability to understand what is  crypto currency is a big advantage to them.

I think that might be a generalization. Certainly if you look at the rank and file, you're correct. However, there are people over 40 with money who pay people with knowledge of disruptive technologies. They sometimes get into the game big, and make a killing. Others will get into the game, but focus on ways of exploiting it in a nefarious way. Still others will try to control it by any means possible. That last group is the one that should worry us most.

I somehow disagree with your opinion. Actually, there's no any obvious generation gap in Bitcoin's world. It's all about the "Investment's mindset" of the person.

Everyone is unique and they all have their own "investment mindset". Many of my friends (who are over 40s) have been getting involved with Bitcoin before of me (not to mention that they're now financial freedom :))

However, some of the younger generation I met, especially my nephews they all knew about Bitcoin and cryptocurrency. In fact, they've started to mine and invest on it.

Conclusion - Bitcoin is only for those that have "Faith", "Dedication" and "Perseverance" ;D

Whenever a new technology is introduced it get hit by a gap between two generations.
Young people are always ready to accept new things but older generation try to stick to the current technologies they are using.
Bitcoin is a quiet complex process to understand.
Though people are using Smartphone's and  computers at office or in home this concept/ technique is entirely new for many.
Even though many people over the age of 40 have adopted bitcoin concept in their lives. But a large number of people all over the world will always stay away from cryptocurrencies like bitcoin.

Rather than going into the technical aspects of the blockchain right away, have you tried explaining the benefits .e.g digital cash, instant international transfers, etc. These are the items that can be used to broach the conversation regardless of how old your audience is. And as they slowly warm up you can go into the technical details.

In my country many elderly people know virtual currency but in a pooshit way. They were led by the bad guys into the market, but the words about wealth, and finally the elderly they were appropriated property.

I admire people who are aged 40 and above who are still open for new things, who still loves to read instead of just watch video, but unfortunately not everyone are open to new technology and would rather give out the reason " you cant teach old dogs new tricks. I am over 40 but still love to learn new technology, I tried to introduced Bitcoin to my older brother but he refused to learn and understand how Bitcoin works.

I’m an age sensitive person even I’m below 30 right now. In a world we’re age discrimination is criminalised and who portray age requirement is a weakness. I’m more than positive that 40’s and above individuals have more experienced, more  knowledgeable, much discipline than anyone who were same at my age. I know more investors running at that age than any younger generation who are busy on social media sites.

Sad but this is true, it's very hard to bridge the gap between us and the old generations because they can't easily cope to the technological advancements that we have today. Actually this is also my problem right now, I hesitate to withdraw all of my bitcoins because I'm a little bit nervous in what my relatives would think of me if they saw me having lots of money. I'm not sure if they will understand if I explain to them that it came from bitcoins, a decent way of earning an income.

I'd even go a step further: 40+ people are the ones holding the biggest part of the Bitcoin cake.

I personally think that it depends on an individual, I just dont think that there is anything you can do to change the way people perceive bitcoin and you cannot really force them into using it. I further think that its a personal preference. Furthermore, I have seen older generations that uses and have been using bitcoin for years now, hence I am saying its a matter of choice and preference.

However, some older generations are not familiar with the use of computers and I IMO, think that it will be a mission for them to learn about bitcoin and blockchain, and they might not find it as interesting as newer generations.

Agree with the author of original posts, a lot of people from 20 -35 freely join and understand crypto subject,  however elder people think bitcoin something fake.

... signature campaigns

i thought, that's not generation gap. but it more towards to knowledge competence about technology era. if anybody would like to study about it very carefully, then they will understand too what is bitcoin and the system. and one more thing, i think it depends on the person, whether that person is open-minded or close-minded. they should open-minded enough to accept this technology development.  :) #CMIIW

I do not think it's a generation gap, but mostly attitude towards technology. Although over 40 now, I am (and always was) a technophile. I started to use bitcoin (CPU mining) more than 6 years ago, but only recently joined this forum, as this year things started to get really interesting.

Generation gap is applicable to those people who are close minded to huge changes to their lives specially the technological advancement that they are using, but some elders convinced to step up and adapt the lifestyle change of the tech, however stepping up to the cryto world is another dilemma for them as we know if there is some money or currency involved they are completely closed minded to it for some elders. Surprisingly not all of them disregarded the innovation of monetary over the digital technology, some of them continued not just to adapt computers and other advance technology but adapts the blockchain technology like millennials.

I guess it doesn't depend that much on the age. However it is the problem of popularization of bitcoins among those who are from industry. Maybe it's better to cover such topics more in simple words or pics using media channels popular among masses and people of different ages.

If you get on poll you will see that the avg age is between 20-40. This generation gap is because the elder people have hot seen such a big revolution in the most needed thing today which is currency. You can explain them who brought up bitcoins how big people are supporting bitcoins. Why the rate increases and how. Tell them how it is the safest way for transaction of money. Basically if the idea of bitcoin is clear anyone will trust in them.

Young people are increasingly understanding about bitcoin.

If i'm going to explain it to the elderly or to the people who don't understand bitcoin or cryptocurrency i will the to them that the modern generation or the modern era is now moving to the next step for our future and we all know that fiat or the paper money is the only currency that has a value but right now there's a cryptocurrency a currency or money that is on the internet since a lot of people now are using technologies.

Also i will tell to them the advantages and disadvantages of bitcoin, how does it work and where it came from.

I agre that it really is not age associated but rather more like the "perception" of that particular person. I've known a lot of teenagers who are not into with Bitcoin because they are afraid that it might be just a scam or for intelligent people only and there are adults that thinks technology is for milennials only and they can't somehow understand its comolexity. Either way, I have also known both adults and teenagers whk use Bitcoin. It really is a matter of "perception" after all.

I think the best way to change their thoughts is that, showing them the price charts and starting to talk about the blockchain technology in basic ways.

And I don't think that the bitcoin is just a currency for the young people. I think there are many elder people all around the world who cares about the bitcoin and its technology.

It's just kind of a coincidence that the older generations aren't as adept nor as interested in technology as the younger generations. I'd say plenty of 40+'s own Bitcoins, they just talk about it less. These guys have more to invest and are more experienced in that area.

Yes. There are many people who know bitcoin now, but there are not so many people who really apply and understand the chain technology, especially among the elite of 40---50 years old. It's a process, it shouldn't take many years, I think :)

I guess what you mean by "understanding bitcoin" can be split into two parts. If you want people in their 40s and 50s to understand the blockchain technology and how it makes decentralization possible, I think it's going to be a bit of a hassle. At least for most of them. There are many tech savvy old people too, which would probably take it nicely.

However, why does everyone need to understand the tech? Do they understand how a bank is run today? Maybe on a very basic level, but most people don't know anything beyond "I put my money there to get interest, and I can get a loan". Because that's all they need. When Bitcoin (and other digital currency) has matured a bit more and become more user friendly, there's no need for everyone to know how it works. They just need to know the pro's and con's and how to use it (which will be made simpler by time).

The thing is it doesn't necessarily to be a techie to know bitcoin.  Especially to those who are in business and investors.  They tend to find new trend where they can earn more.  And most of that people are in the age of 35 and above. 

There is still a possibility for these "elder" generation to believe in bitcoin. We cannot blame them though because it is in their generation where many pyramiding scams and bankrupt investments and insurances came to be. It was them who experienced all those hard laboring but had their money fatten someone else's pocket. These may be the older than 40 years old people. So speaking on how to help them understand and use bitcoin, I guess words and lengthy discussions would get you to little progress. Show them proof, evidence how bitcoin has been real and safe for you. Include it to your regular conversations, let them be there when you do some of your transactions. Let them get the hang of it and how it goes around. Throw short liners of how you are thankful to bitcoin and its convenience maybe? Let them think about it and decide for themselves, or ask them directly if they have changed minds and would now be interested in bitcoin.

It is understandable that it might be that the you ger generation is the more inclined to use bitcoin ad the past generations may have qualms about it as it is a new currency and they can only understand paper moneh as they might have trouble analyzing how this can work.

It ??? is justifiable that our new generation is addictive to computer technology and stuff which leads to be more bended towards Bitcoin. Early years were not that involved when compared
But if we see , we could show up to them by proving them that it is safe and secure website which the world follows/works
Though people from 40' were not tend to this type of situation where at that time some of them could not afford to do it , while now it can be done  ??? ???

Most likely...
After all people in their 20s don't have the financial means to compete with an adult with a really good, far over the average wage, unless they are coming from a wealthy family. But in this case it would still be the parents those that are putting the money into BTC.

And young one are most inclined to "live their life" rather than think about investments and the ones that are forced to seek work and search for income sources, again they don't have the funds for it.

Probably the youngest investors that hold some real stashes are the Winklevoss twins but even they are approaching 40, only 3 years to go.

Actually you're right. The previous generations can't adapt with all knew technologie. We barely saw them starting to use smartphones. I don't think that older people would be interested in bitcoin. Money is not their problem since that they have retirement salary. Being a part of bitcoin community takes some knowledge and skills in using internet that they can't require.
Bitcoin is the future so we need to figure out ways to teach it to next generations intead of worrying about previous generations.

I think the best way to explain it is bitcoin is a cryptocurrency and you can earn it for doing some task online, also they can earn it for free by claiming from faucets. This days people are searching on how to earn online so explaining it that they can earn money from earning bitcoins will encourage them to learn more info about this.

Yes this are true. Although I get the points of the poster which means that since the younger generation is more on the technology, they tend to be the ones who will be able to accept Bitcoins.

In my case, I never known someone above 40 using Bitcoins. But I believe there are and is also a big number.

Maybe it is not question of age, but a question of knowledge to technology instead. And also the open mindedness to the idea of Bitcoins.

Forty is not older generation. I agree with that as well. Personally I think people currently in their 40s were the pioneers of this technology. They are way more politically driven than any other generation. The thing is, I think most younger people are here just for the profits, unfortunately. That is why when there's a dump the forum is full of bitcoin is dead. I am in my early 40s. I tried teaching my nieces and nephews about Bitcoins (they are in their early 20s). They were not interested. One started paying attention when I mentioned profits

there is no generation gap when it comes to bitcoin, what i can see is, there is a difference between the acceptance of people who are into investing and those who do not. we can say that a man in his forty's, can still invest in bitcoin however, it will depend on his knowledge on investing and bitcoin that will matter, the same goes with those who are young. most older people, do not accept bitcoin as an investment, simply because they do not understand what investing is, since what they know is that getting a job will make you a living, however, if we look at those people who are in their forty's and know how to invest, it might be a different story. we can say that it is generation gap, because, older people, tend not to update their selves when it comes to technology, since they are not a line with it and not part of their job, however if it is part of their job, you might not see a generation gap, since both young and old knows what is the new technology. i think generation gap is not applicable here but knowledge is, there is a saying that you cannot teach an old dog new tricks, but that is true when it comes to pets, for us humans, understanding new things is different,we can easily adapt, just look at old people using smart phones, if you look at it, smart phones are relatively new, but they know how to use it, the same goes with bitcoin, though bitcoin is new, if they really wanted to learn more about bitcoin and investing, they can, since there is no age limit, it will all depend on their understanding.

That is right, Bitcoin awareness really depends on the person.
Even if you are on your teenage years but you don't believe on it then you won't care of having one. It is one person's interest that let him go into bitcoin not his age.

Older people might have more interest on it since they understand how economics go more than younger ones.

I agree that it depends on the interest of person but what I have experienced so far is that younger generation adopts bitcoin very easily and they don't find it hard to learn but comparatively older generation hesitates in online stuffs as first of all they don't know how to use computer and the other thing is that they believe everything in online world is a scam so it becomes very difficult to convince them to use bitcoins.

Bitcoin and the generation gap is natural. They will not understand it until they are forced to use it. Meanwhile the younger generation will be using it and learning it so if they don't learn and invest now they will miss out.

Then, isn't ironic that the older generation must teach the younger generation about Bitcoin?

The generation gap will always be there and so you have to accept that older people will take longer to accept the changes and younger people that have researched how terrible fiat money is are going to have an easier time accepting the change to better money.

In bitcoin is not only a generation gap but also a big gender gap that needs to be closed.

The discovery of bitcoin is a remarkable thing because it makes things easier, I never thought before that with bitcoin transactions can be done faster and safer when compared with fiat money transactions.

if we take a look with young generation, they are really enthusiasm with the new technology and they really open their eyes especially now they know bitcoin giving the opportunity to them. many young generation is realize that without technology, they can not know what is happen in out there so they accepted and use it and now we can found many of them is using bitcoin. that is right there is many older people join in bitcoin world because they knew bitcoin already but the young age don't want to missed the chance to take a part into this and i think in future, there will be many young age join into bitcoin.

Basically, bitcoin holder are often those who are internet people. All information related to bitcoin are all stored with the internet, it is dependent on the internet. In my country, majority of the people who has access with the internet are the young people. That is why its not surprising why mist of bitcoin holder in our country are the mellenials. People who are older are more in need of deeper explanation how bitcoin and internet work.

I think not all elder people are sceptical about bitcoin. for instance, my father, in his 60's he directly believe and understand about bitcoin after I explain it briefly. and he is interested in bitcoin and asks me to teach him to apply it

From my point of view, people from the younger generation are more open to new possibilities and opportunities and are more willing to take risks comoared to the older generations that are somewhat doubtful of new things. But I really don't think generation gap will be a problem if you will be explaining things properly and in a pace that they could understand easily.

We never love if we never know just like bitcoin we never get a provit or benevit from bitcoin if we don't want to know what is bitcoin at truly if someone have a big desire to get knowlage of bitcoin they will know that bitcoin can give much of advantages No matter old or young people , someone who said that bitcoin is fake and dangerous is only someone who don't want to understain more about bitcoin.

Though it may be difficult to give orientation about bitcoin to older people but there are so many ways of convincing them. First and you must be seen as a trustworthy person and you have been giving the person a result oriented idea in the past then the person will always give you a listening ear in any other concept, idea or information you will give at any other time.

To conclude - I was wrong to call it "generation gap" in terms of accepting bitcoin and interacting with it.
Now I realise that the real problem that I encountered - is in certain people, who are, without dependence on age, just staying in the "comfort state" without the will to make a step outside.

For me I will call these a "Technology Barier" which elders like what you said didn't know how to use and not literate to technologies gadgets and stuffs like that.. I am also agree that the way to learn and have knowledge about these is through exposure to internet especially to those younger people..
I am introducing techs and bitcoin to my mother and he doesen't wan't it to learn etc.. the fact that our country is late in terms of tech and the wrong mindsets other people have ... sadly this is hard to solve but for now to those people who have knowledge like us ... it is lucky that we are taking this As oportunity and a big advantage at all