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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.
I don't trust stocks or employers and I've been investing in my own businesses since I was a youngster. If your not in control your at risk.
Every business has risk though and it tends to be the bigger the risk you take the greater the potential reward. When you don't surrender control to others (ie like starting a business and investing in that business, etc) you are gaining an opportunity to evaluate risk and make decisions about your future for yourself. It's up to you decide how much risk you want to take and this is key to success. If you don't want to take any risks then expect to end up impoverished. This is the danger of letting government steal our wealth and force less risk on the population. It hinders the potential and growth of the people's finances.
Bitcoin is risky- but I've also been hugely rewarded for whatever risk I've been willing to take with it. I lost some at certain points, but I've gained a heck of a lot more than I've lost. At the biggest drop I lost about $200. I've been rewarded with 10s of thousands of dollars of Bitcoin in profits however.
I didn't freak out when Bitcoin 'crashed'. I understand that's just how this thing works. The masses are stupid and don't get that you should not pull out at a low point. If you prepared yourself for a downturn then you'll not need to pull out and pushing through the lows is the way to go. Credit cards took 40 years to become widespread. Comparatively Bitcoin has done remarkably well in spite of the critics.
The government needs to stay out and let people take whatever risks they so choose with the cavet that *yes- you could lose money*.
I don't "invest" in Bitcoin like most people (I don't buy Bitcoin generally, I only accept it as payment), but I have taken advantage of it to profit from a trade stand point for about six years now. My business has profited greatly. We've increased profit margins by as much as 26 times simply by taking Bitcoin and spending it. High cost low margin products for instance it's helped out greatly on for instance. That doesn't include the increase in value while those Bitcoin have been held. Credit cards have a 3% cost. Bitcoin 0%. With a low margin high investment cost product that retails for $700-3000 you can literally double your profit margins with this 3% savings alone. I'll reserve my secrets for turning that doubling of profits to 26 folds, but basically I get significant discounts from upstream for paying with Bitcoin because I'm taking advantage of liquidity in the markets.
Diversification between safer gambles and more risky gambles can help safeguard ones assets. The smartest thing I did out of college was stop listening to other people. Parents, colleges/school, etc. I turned down a great job offer to start a business and instead took a part time job paying close to minimum wage (well significantly less than I was worth) explicitly because it was a better investment to focus on starting a business than it was to make more money from the onset than it was to surrender those funds.
Yea- so I make six figures today and I started my business in 2008 during the down turn in the economy. My assets are far greater than near anybody I know and I'm only 33. I am one of the wealthiest people in my neck of the woods in New Hampshire (I do have a few friends who have also done equally as well). And yea- I even pay 100% of my taxes owed. Sometimes that is the cost of doing business even if I'm doing better than most because of stupid laws that deprive the majority of there wealth which then makes them dependent on government.
If don't believe in use of violence outside of self defence (ie like to achieve social and political goals, ie taxes are a form of theft, drivers licenses require use of violence, etc) check out:
http://www.freestateproject.org/
http://www.freekeene.com/
https://forum.shiresociety.com/