Is there a way to convince them? If all the boomers were somehow orange pilled I can’t even begin to fathom the economic impacts. It still blows my mind that the generation that went from radio to television to the internet to the smart phone has such an adverse reaction to new technologies. Is it even worth trying to convince this generation before they all die and their hoard of wealth gets dispersed to banks and health insurance companies?
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82 sats \ 5 replies \ @memeverse 5 Jun 2024
It's a cultural fact. They are used to trusting the advice of intermediaries, and then we saw many how they ended up!
They have always thought about how to get money through work, leaving investment management to others.
Perhaps someone more forward-thinking and with Generation Z grandchildren might approach the world of cryptocurrencies.
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53 sats \ 1 reply \ @teemupleb 5 Jun 2024
Also if you’ve already amassed a comfortable amount of wealth for the last 20-30 years of your life, why risk it too much for some “digital currency” of which benefits are still very much contested in the mainstream media.
That being said, I feel like boomers are allocating 1% more and more especially now with the ETFs.
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0 sats \ 0 replies \ @memeverse 5 Jun 2024
It's sad to say but bitcoin is not really for all generations, with a few exceptions, most people over 65/70 need someone to invest for them.
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40 sats \ 1 reply \ @chaoticalHeavy 5 Jun 2024
This is the right answer.
The way to orange pill someone is to educate him so that he understands how Bitcoin works. There is a lot of resistance to learning something as serious as Bitcoin. Trusting someone else is a lot easier (and they think it's also safer) than depending on their own technical understanding.
I'm slowly educating a few boomers. Even the ones who buy Bitcoin trust the exchanges and don't consider self custody as an option for them.
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30 sats \ 0 replies \ @memeverse 5 Jun 2024
Already deciding to investin Bitcoin via exchange is something positive.
Self-custody for boomers seems to me too much, too much responsibility, if they were to lose their access keys it would be a big trouble..
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0 sats \ 0 replies \ @BoJack OP 5 Jun 2024
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