[2019-11-13] Bitcoin Getting Favored by Retirees in Australia Despite Volatility

[gameristo]

The title is quite misleading. It gives readers the feeling that senior people in this country are investing in cryptos but here is a quote directly from the survey that kills everything then.

about 2.5 percent of retirees in Australia intend to get some crypto in the next half-a-year.

All this for only 2.5%... and they intend, not they did.


That said, I know someone there, he's 68 years old and someone very active on the internet. He never wanted to believe in Bitcoin potential, since about 2017 he collects free bitcoins from faucets and other earnings websites

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[stomachgrowls]

Even though the stats here are likely way out of date, with there likely being of bias when it comes to conducting these surveys, I don't doubt that bitcoin is quickly becoming fairly popular for the growing Australian population.

It's already a fact that a lot of the venture funds or retirement fund managers are starting to lean toward the crypto side of things, and the Australian government is handling it very well, and allowing the currency to actually see some use and flourish, mostly leaving it to the companies to pick and choose.

Its not actually bias but rather it wont really be that accurate and as said above this do only being surveyed by just hundreds of those retirees.

I'm saying it's biased because the article might be written by someone who supports bitcoin, and therefore wants more people to do as well. This could result in him/her picking people out of advanced populations, out of the richer people who have funds to blow on investments like crypto-currency.

It would be impossible to do very accurate survey on this, there are way too many factors (here are some examples).

- Location (no-one in a rural area is going to have BTC)
- Age (younger people are more likely yo have BTC, although doesn't apply here)
- Socioeconomic Status (obvious reasons)

Yeah you got those points and i agree with that but even though its either biased or not but at least he do make some positive PR on here.

Retirees do really love to gamble out their savings thru crypto investment but it isnt actually a bad choice though.

[audaciousbeing]

Bitcoin Getting Favored by Retirees in Australia Despite Volatility: Report

A report made by the crypto exchange Independent Reserve says that Australians in their mid-sixties are more and more often turning their glance towards crypto, such as Bitcoin and Ethereum, as their retirement investment.

https://u.today/bitcoin-getting-favored-by-retirees-in-australia-despite-volatility-report

The real question is who are these set of retirees before we begin to make some conclusions that the entire retirees in Australia are turning towards crypto. I am sure the set of people involved in this case would have been people who during their working years are known to be risk takers, who are not afraid of trying new things are the same time go out to seek knowledge about the best cause of action before investing money into it now that they might not get the chance to recoup fast if the investment go bad now that they are out of work. For me, no matter the population involved, the take out is to celebrate the spread that we have come to know that the use of crypto has now gone beyond the category of millenials and now touching people that have gone ahead of us.

[BitHodler]

For me, no matter the population involved, the take out is to celebrate the spread that we have come to know that the use of crypto has now gone beyond the category of millenials and now touching people that have gone ahead of us.

It's great that there seems to be some interest in Bitcoin from those beyond the category of millenials, but that doesn't mean much right now because crypto as a whole as mentioned before is sentiment driven.

The only thing it takes to get people (category doesn't really matter) to be interested in Bitcoin, stocks, gold, and so on, is the price to go up and have the media cover the increases for a while.

I want people to be interested in Bitcoin for what it is, and not for the price movements, because all these people currently think that Bitcoin is great when it goes up, but it sucks balls when it goes down because they lose confidence.

[veleten]

The title is quite misleading. It gives readers the feeling that senior people in this country are investing in cryptos but here is a quote directly from the survey that kills everything then.

about 2.5 percent of retirees in Australia intend to get some crypto in the next half-a-year.

[/b]

All this for only 2.5%... and they intend, not they did.


That said, I know someone there, he's 68 years old and someone very active on the internet. He never wanted to believe in Bitcoin potential, since about 2017 he collects free bitcoins from faucets and other earnings websites

as usual another clickbait article , they don't even bother now and get any fact that is remotely looking like connected to bitcoin and present it as a statement
getting favoured and 2.5% of retirees is contradictory at best , I'd say they consider bitcoin as something they will not try
and this is not about 2.5% investing or actively trading or holding , this is PLANNING to , subtract 50% from this figure and you will see that only 1% of retirees in Australia will be buying coins
so much for "getting favored" 
can't say about Australia , but where I live no people I know that are > 60 years old are planning to invest in bitcoin or even consider such a foolishness
and I spoke to quite a few , it is safe to say that 3/4 of them haven't heard about it and the remaining 25% heard about it but do not consider it as something worth talking about at all , sadly
they are very cautious about their money and investments and not willing to take risks as much as the younger people