Nearly a Third of Millennials Say They'd Rather Own Bitcoin Than Stocks (bloomberg.com)

An anonymous reader quotes a report from Bloomberg: A survey by venture capital firm Blockchain Capital found that about 30 percent of those in the 18-to-34 age range would rather own $1,000 worth of Bitcoin than $1,000 of government bonds or stocks. The study of more than 2,000 people found that 42 percent of millennials are at least somewhat familiar with bitcoin, compared with 15 percent among those ages 65 and up. Bitcoin rose more than 6 percent Wednesday to as much as $7,545, helping to push the value of the total cryptocurrency market above $200 billion for the first time, according to CoinMarketcap. The digital asset has soared more than 600 percent this year, compared with gains of 15 percent for the S&P 500 Index -- which might explain millennials' attraction.

Comments

Re:It's clear

[bobbied]

Yet, they think they are smarter if you talk to them. I remember when I was dumb too, so I guess I cannot complain that much about the young skulls full of mush not listening to my sage advice born from the wisdom of experiences brought about by both success and failures. They will learn, the hard way, just like I did.

Fredrick Brooks was right, there is no silver bullet.

Investing in BitCoin? Yep, it's a big fat ugly bubble and folks will be slaughtered when it pops. Some will get rich, but only some, and at the expense of others but how can ANYTHING that has literally *nothing* to back it but the perception that it is worth something going to be a good investment in the long term? The Dot.Com bust was this, except, in some cases there actually was the POSSIBLITY of a profit for that stock, albeit a remote one. A BitCoin is only a collection of data bytes that some machines made up somewhere, and that's all it will ever be. That somebody is willing to trade you something of value for it is all that gives it value.

My advice? Speculate in BitCoin if you like, but don't treat it like an "investment" and absolutely DO NOT bet money on it you cannot afford to lose. And Remember, the folks who can play the BitCoin market faster or better will make all the money, so if you are serious about this, work out a way to be the guy that makes money, if not, stick to things with intrinsic value.

Now you may get off my lawn please...

It's too late now

[Neo-Rio-101]

It's too late to jump in the bitcoin market now. The run is nearly over and everyone and their dog are now jumping in - which is a pretty good sign that a drop in price is imminent.
The suckers are lining up and the people with all the amassed bitcoin will likely sell it off to the suckers at the top of the market.
Then the price will fall out of the bottom as demand is saturated.

Economics has everything to do with value and what people are willing to pay, and especially in the case of currency trading, which prices the orders and money sits at and NOTHING ELSE. Sure, news may influence people's positions, but at the end of the day - money talks and BS walks.

You never try to chase after a quickly falling or rising price by jumping in the market going in the same direction.
Where people see a dropping market, you have to be thinking as a buyer.
You buy at the low prices and sell at the high prices, and never EVER the other way around.

As the bitcoin price goes up, those holding bitcoins will be thinking of selling and taking profits.