Bitcoin and non-formal workers

[Pejoh Asu]

Since 2014 until now I have noticed that bitcoin and the crypto industry has grown very rapidly where currently its market capitalization is a testament to the successful growth of this industry.

I have been here and around people who support this growing industry such as traders, investors and bounty hunters and others. One fact about these people is that 90% (maybe more) of the people I know who support this industry are not formal workers who usually work as government employees, but they are non-formal workers working part time in some real businesses. There are only 2-3 out of 20 people (not the actual number) who are formal workers as government employees who are currently still trading crypto at my place to this day while the others are non-formal workers. What about those you know in your country, does this happen in your country and the people you know? I don't think there are any restriction governing formal workers involved in this industry as investors or traders.

In my country there are still few crypto users, but from the local forums that I follow, many who work in cryptocurrencies are mostly not formal workers like you mean, facts like that of course are almost the same in any country because when someone is busy with formal work, they will not have time for cryptocurrencies and cryptocurrencies of course need special skills, especially knowledge about investments such as trading.

[Oasisman]

Well, one thing is for sure why most Government employees doesn't usually get involved in cryptocurrency is because they are so focused on their job and they can't even turn their attention to any other investments that has a good percentage of returns.
Even those who are in the corporate world, most of them doesn't even get involved in cryptocurrency (here in my place).
Most people who is invested in crypto are those part time workers and business men who has enough time to check the market and do their due diligence.
These are just some of the most obvious reasons. However, there were still few people who can still find time to get involved in crypto even with the full time day job, I myself are one of those.

[TheNineClub]

There are definitely no restrictions regarding governmental employees investing, trading, or taking up a second job in crypto (or any other line of work) in my country. However, the safety government employees feel regarding not being able to get fired, having a steady income, and so on, might give those people a false sense of security and when people have that, they tend to not rush or even think about alternative ways to earn money. So that could be the case.

[BuNga_cute]

Since 2014 until now I have noticed that bitcoin and the crypto industry has grown very rapidly where currently its market capitalization is a testament to the successful growth of this industry.

I have been here and around people who support this growing industry such as traders, investors and bounty hunters and others. One fact about these people is that 90% (maybe more) of the people I know who support this industry are not formal workers who usually work as government employees, but they are non-formal workers working part time in some real businesses. There are only 2-3 out of 20 people (not the actual number) who are formal workers as government employees who are currently still trading crypto at my place to this day while the others are non-formal workers. What about those you know in your country, does this happen in your country and the people you know? I don't think there are any restriction governing formal workers involved in this industry as investors or traders.

In my country there are still few crypto users, but from the local forums that I follow, many who work in cryptocurrencies are mostly not formal workers like you mean, facts like that of course are almost the same in any country because when someone is busy with formal work, they will not have time for cryptocurrencies and cryptocurrencies of course need special skills, especially knowledge about investments such as trading.

Formal workers do spend time working in the office for 8 hours, especially if the office is far from where they live, time is up on the trip, be a formal
workers until the house is tired. Meanwhile, on weekends, formal workers spend time with friends or family, then they will have no time to
learn cryptocurrency. I agree with you, it seems like all countries will be like that. So it is not surprising that the majority of crypto investors are not
formal workers. Especially in a country that is a third world country whose economy is still bad, there are still many people who can't afford to pay
internet bills. So they can't get any information regarding crypto, whereas people who can access the internet more easily get opportunities to earn
income. This is one of the reasons why in the world there are still many people who do not know Bitcoin, because most people do not have time to
find information about Bitcoin.

[wxa7115]

Since 2014 until now I have noticed that bitcoin and the crypto industry has grown very rapidly where currently its market capitalization is a testament to the successful growth of this industry.

I have been here and around people who support this growing industry such as traders, investors and bounty hunters and others. One fact about these people is that 90% (maybe more) of the people I know who support this industry are not formal workers who usually work as government employees, but they are non-formal workers working part time in some real businesses. There are only 2-3 out of 20 people (not the actual number) who are formal workers as government employees who are currently still trading crypto at my place to this day while the others are non-formal workers. What about those you know in your country, does this happen in your country and the people you know? I don't think there are any restriction governing formal workers involved in this industry as investors or traders.

I think this has to do more than anything with their way of thinking, those that work for the government will support policies and laws the government pushes as they see themselves as part of the government and they see the benefits they can obtain with it.

And even if they do not see themselves in that way it is very difficult for a person to go against their self-interests, and since bitcoin is independent from the government they could see it with bad eyes, which is why most of the people you find trading and using bitcoin on your everyday life are independent workers, as by necessity they have adopted a more flexible way of mind and they see in bitcoin a tool for them to reach their goals.

[worldofcoins]

What I believe here is that lack of information and lack of trust is the main cause that hampers people from making investments in the crypto market. A bunch of people had faced scams in their past experiences due to which they aren't willing to invest in crypto markets as well. Also the crypto market isn't affiliated with the government as well due to which it's not getting much trending in many such people.

[perfect999]

I don't have any info about the amount of public service emplyees interested in crypto in my country.
Actually,I do believe that almost no public service worker is going to reveal that he is investing in cryptocurrencies.Perhaps most of them still think that this is something illegal or shady.
Most of the crypto investors are freelancers,digital nomads and business owners.They are much more tech savvy and more open towards innovation and new technologies.The government clerks and public service employees are usually more conservative and traditionalist(there's nothing wrong with that).

I would guess that the amount of "anything" that you own is public record in many nations if you are a public servant. That means that you need to reveal the crypto that you own, fiat that you own, the investments, stocks, gold, real estate and whatever else. Which is why I believe that we could probably see some public servants either hiding the crypto that they own, or they just let it be known and that's it.

Since, almost every major exchange has KYC requirements, it would be very hard to hide something like that. This is why I believe that most people actually do have some sort of crypto that they let people know in that sector.

[uneng]

What about those you know in your country, does this happen in your country and the people you know? I don't think there are any restriction governing formal workers involved in this industry as investors or traders.

It's impossible to know precisely such data, because most people dealing with crypto currency don't reveal their identity to surveys which could reach to a conclusion in numbers.

My guess is that formal workers are the main potential investors, because they already have a fixed income that can be easily applied in bitcoin investment.

On the other hand, non-formal workers are the ones who most seek for crypto opportunities to earn an income from, and only later invest on it, when they have a spare amount of money to risk, after paying for all their monthly expenses.

Then, I don't see there are more formal or non-formal workers in crypto universe, because all of them have found opportunities to make profit through bitcoin and altcoins. And no, there isn't any restriction forbidding public employees from dealing with crypto currency.

[macson]

i'm not sure if your data is accurate but based on my observations around me that all circles are currently thinking about investing in crypto, but the most difficult thing to convince to want to invest in crypto is formal employees maybe because they are more obedient/afraid of the government.  bitcoin has become an investment that threatens other investments and both formal and informal workers should start trying to invest in bitcoin.

[Falconer]

Over the past week I have met 4 of my friends who are currently civil servant. I tried to ask 3 question about whether they know about crypto, are they willing to invest, and what do they think about it.

I know the result will not surprise me because all the friends I tried to ask the question knew nothing about crypto even though they had heard of bitcoin and read about it in the newspapers. No one is interested in investing even though I have explained how price up have occurred over the years since launch. Only 1 important point that I summarize as the reason and that is his fear of investment scam as is happening a lot in my country. Although they explain that there is no prohibition on crypto from their agency they work for, but that reason is one of the determinant why they are not much involved in this investment. Yes I need a lot of data to be able to assume more broadly about this, but this is just an opinion based on people I have met.

For now my thread is locked. Hopefully the market will recover faster after today's correction.