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I may not have understood it then. But now that I read your discussion, I realize that I brought up the topic of the next generation without sufficient basis. However, I will definitely try to remember your words. It is not right to jump to that conclusion without even knowing the person's income, expenses and the need to withdraw money from investments.
To be honest, I really meant the elderly who still earn from work or receive regular retirement money and can set aside discretionary income after meeting all their necessary expenses. Some of them may be interested now, even if they have not started investing before. I did not want to rule out that possibility just because of age. But I should have been more careful to mention the consideration of their situation, not just limiting it to interest.
Hopefully, you can be specific if you really think that there are some cases in which you believe that age might not affect how an elderly guy chooses to invest in bitcoin and perhaps how much he chooses to put into bitcoin in those cases that he might end up deciding to invest in bitcoin.
We cannot just project the various parameters onto an older person from a younger person and act like the parameters don't matter and "age is just a number," since age is a real and meaningful factor, even for the elderly guys who try to act as if their age does not matter.
Let's get into details if you believe there might be some elderly guys (or kinds of elderly guys) who really have generalizable abilities to invest into bitcoin without giving some thoughts about their needing to go through each of the stages of accumulation, maintenance and liquidation. How are they going to fit each of those stages in, even if we might presume their investment timeline might ONLY be in the ballpark of 4 years, since they might not be able to be in a position to commit to an investment timeline of 10 years or more.
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It is near impossible for a 70 years old not to have their own children or someone in their families who is consider their favourite person, I think someone like that is best in the position to take over from where the 70years old left off.
Get the fuck out of here with your proclamation that 70 year olds have someone to pass down their wealth or even assuming that they may start to invest in bitcoin based on their having someone to pass down their wealth.
You are off topic with such vague nonsense. We tend to talk about guys building their bitcoin position, and there is a bit of an assumption that 70 year olds can just get started the same as everyone else, and you better come up with specifics that are generalizable if you want to continue to make those kinds of claims.
Otherwise take your bullshit to some other thread.
At times nature have its way of cheating too, a 70years old can still reach 90 years before they died but at 70 it's better to start preparing, DCA at that point in time should be lower compare to their past years.
Your just making shit up. You think that you got 70 year olds figured out and it would necessarily make sense for them to get started in bitcoin.
I need more than your vague baloney to pursue such nonsense.
A 70years old can't even eat everything anymore, lower sugar and many other foods will be cancelled off the table, it sucks to get old, at that age it's better to just have fun and slowly walk away from investment because what's the point? Unless they have kids to hand things over to.
Now you are contradicting yourself, which is the more correct point.
In other words, it is more likely that 70 year olds are figuring out how to live off of what income that they have, and sure they might have some special situations and/or various investments, yet they may well not be in a position to be trying to grow them, and if they are in a position to grow their investments, then we have to take into account their various investments, which seems way the fuck beyond the topic of this thread.
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There is definitely a need to protect savings from inflation, but it may not be correct to say that the value of that money will be preserved if you keep it in Bitcoin. Because Bitcoin has good potential, but there is also uncertainty in its price fluctuations. If you are forced to sell it when the price is low at the time of need, then you will have to accept the loss. Even before saying 30-40% of pension or savings, you need to know what needs he will have to meet with that money. If that 30-40% is for regular expenses and medical treatment, then it is not suitable for long-term investment. You need to explain more clearly what 30-40% of the money you mean is savings, monthly, pension or the remaining part after all necessary expenses.
What is the investment timeline? 4-10 years or longer or what? And if the person has age/health factors that does not allow him to invest 10 years or longer, then he may well have special circumstances in which he might be considering 4-10 years for his investment into bitcoin.
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You are right JJG because I don't see any reason why we should bring up discussions that might not play out in our own real life scenarios and start talking about a generation to come. Why I'm not bothered about discussing old people getting started with their bitcoin investment is because some of us that are still young will likely continue our bitcoin investment at old age. Though, I know that we have people above 70 in the forum that have started their bitcoin investment earlier.
Some newbies that just came to this forum might be at that age of 70s and don't have any bitcoin. But if they are reading this thread, it will motivate them and give them an insight on how to start their bitcoin investment even though their investment timeline will be shorter compared to the young investors provided it's their own choice to invest into bitcoin.
For sure someone who is 70 years old or older, who just heard about bitcoin, can still decide to get involved in bitcoin, yet age/health is likely going to be a big factor for him, and I surely tend to recommend an investment timeline of at least 4 years, yet guys can do what they like, yet a guy (in his 70s or older) who might be coming to bitcoin at that age, may well be forced to need to consider bitcoin in less than 4 year timelines, yet if he has various income sources and various assets, then he might be able to have a bitcoin investment timeline that is greater than 4 years, so when we start to talk about guys who are 70 years or older then their various
individual factors are going to be relevant to whether they consider bitcoin at all and if so how they might consider it.
bitcoin can be interesting, but i’d rather see a clear plan for managing risk than just hype around price targets.
Why don't you start by telling your ideas, and perhaps explaining your thoughts in light of the topic of this thread rather than coming to the thread to give assignments.
Do you have some background in bitcoin already and/or cashflow management? If we don't know you then what the fuck good is a one line post going to do for you to state your supposed preferences related to bitcoin...and to state them in vague and largely meaningless ways?
