"Bitcoin is not appropriate for an 80 year old" (part 1) \ stacker news ~Stacker

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"Bitcoin is not appropriate for an 80 year old" (part 1)

880 sats \ 35 comments \ @grayruby 15h Stacker_Stocks

No it was not Jamie Dimon or Jim Cramer or Dave Ramsey who uttered this quote.

Tell me what you think of this out of context quote? What is your visceral reaction?

Tomorrow I will post part 2 and tell you who said it and the context behind it.

Sats for all, GR

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40 sats \ 0 replies \ @aljaz 3h

Well i for sure dont imagine my grandparents self custody bitcoin, or use it for that matter, they lived in a place that had no internet (barely any cell coverage) and the furthest they ventured in tech was playing hearts or solitare

54 sats \ 0 replies \ @elvismercury 5h

All else equal, an 80 y/o is ill equipped to endure giant variance in the value of her savings, since there's no buffer (they're drawing down), and she can't wait out bear markets due to her age.

61 sats \ 0 replies \ @TheMorningStar 4h

Bitcoin is or is not appropriate for 80 year old but I'm sure it is for everyone who is alive not in the coffin. ;)

193 sats \ 3 replies \ @siggy47 15h

Am I correct in assuming the following?:

Our hypothetical 80 year old is childless
He or she has no relatives or friends to whom they wish to leave a legacy
He or she has no charity or worthwhile cause that they believe in enough to aid after their death
He or she is an in the moment, live for today kind of person

41 sats \ 0 replies \ @grayruby OP 14h

No No No No

91 sats \ 1 reply \ @byzantine 14h freebie

indeed. if they plan to die with nothing then bitcoin is not appropriate for them. if they wish to participate in the next generation in perpetuity then it is for them

0 sats \ 0 replies \ @grayruby OP 14h

I think that's a fair take given the lack of context and not knowing who said it.

52 sats \ 1 reply \ @SimpleStacker 11h

A relative of some kind? I've got family on the mind since it's holiday season.

My gut reaction is that it depends more on the person's personality than their age. I can see there potentially being an 80 year old who would be better suited for bitcoin than some 20 year olds.

0 sats \ 0 replies \ @grayruby OP 11h

I think that's fair.

58 sats \ 0 replies \ @byzantine 13h freebie

also if you are too old to learn new things then learning about bitcoin is also not for you.

39 sats \ 0 replies \ @chaoticalHeavy 13h

If an 80 year old thinks he will live to be over 100 years old, then he needs something like Bitcoin to make sure he can afford his future life.

If he thinks he's going to croak tomorrow, then it's irrelevant.

78 sats \ 1 reply \ @denlillaapan 15h

Mjhe.

In general, and without any additional info -- yes. Life expectancy is around that so you're about to go. Don't hold anything but cash.

Now if you're healthy, have some info, likes to live and learn new things, it's an excellent use of your days. Learn, teach, HODL for kids or grandkids -- maybe even manage nodes on behalf of the family

40 sats \ 0 replies \ @Bell_curve 15h

Agree except after 80 any day can be your last

51 sats \ 0 replies \ @Undisciplined 14h

I don't like how absolute it is, but I'd say it's directionally correct.

I've never made any attempt to convince my parents to move any of their finances into bitcoin.

I don't trust them to store it safely or to know how to use it if they need to and I don't want to have to manage their finances for them. For the time being, they manage their fiat finances just fine.

60 sats \ 1 reply \ @IamSINGLE 14h

What a v4v click bait!!

Whoever said this was out of his mind that day. Isn't Bitcoin for everyone? Bitcoin isn't biased.

0 sats \ 0 replies \ @grayruby OP 14h

Not click bait. I want to see how people respond. Remember, you don't have the full context of the quote.

77 sats \ 2 replies \ @Satosora 14h

Is it really not for all ages? Even as you get older, you can pass down wealth. Why pass it down in fiat if you have something superior?

20 sats \ 1 reply \ @grayruby OP 13h

Good points.

40 sats \ 0 replies \ @Satosora 13h

Usually if you have made it that far, you have some type of security. Either a small 401k or annuity, or a pension. I know a lot of older people who enjoy going to the casino with 5 dollars. Coffee money, you know?

31 sats \ 1 reply \ @Brunswick 6h

The 80yr old hates young people and has no desire to reform the system that is writing her "social security" welfare check and breaking the backs of young families.

5 sats \ 0 replies \ @grayruby OP 6h

This makes a lot of assumptions but I did ask for your visceral reaction and didn't give much detail or the full context of the quote.

40 sats \ 1 reply \ @godlikeXi 6h

It's ferocious stupid and vapidly ignorant. Most of the world is stupid and ignorant. Bitcoin is software. A tool of the modern world and of the future. That 80 year old has to have a family that will need resources ie monies.

0 sats \ 0 replies \ @grayruby OP 5h

You are making a lot of assumptions here but I did ask for visceral reaction and didn't provide context so this is the type of response I was expecting.

30 sats \ 1 reply \ @000w2 12h

I'll be using bitcoin when I'm 80, I'm sure most of us will.

0 sats \ 0 replies \ @grayruby OP 12h

For sure. But Bitcoin will be the reserve asset (and likely currency) of the world when most stackers are 80 and we will have all had decades with it.

40 sats \ 0 replies \ @suraz 14h

Are we guys going to live until 80?

40 sats \ 5 replies \ @realBitcoinDog 14h

Your parent! But if your dad is that old, how old are you @grayruby???

I definitely got it last night. “It’s just too volatile for me at my age!”

10 sats \ 4 replies \ @grayruby OP 14h

No was not my parent. But dad is getting up there. He is beyond 75.

I am not too old, not too young. I am of the greatest generation. Generation X but a late Gen Xer.

50 sats \ 3 replies \ @realBitcoinDog 12h

What was it like when your family got your first fax machine?

10 sats \ 2 replies \ @grayruby OP 12h

Haha. We had a fax machine. Hardly ever used it but it was the future of communication after all.

40 sats \ 1 reply \ @realBitcoinDog 12h

”Mom get off the phone! I’m trying to pirate music on Napster!”

10 sats \ 0 replies \ @grayruby OP 12h

Dial up internet baby!

40 sats \ 0 replies \ @Coinsreporter 15h

I'm already anxious for part 2. Can't wait.

Bitcoin is or is not for an 80 year old now but it'll definitely be for all of us.

40 sats \ 0 replies \ @Bell_curve 15h

I agree because life expectancy is 80

0 sats \ 0 replies \ @Miranda 8h

wow, there is no age limit for entrepreneurship in the bitcoin world, with 80 years old you can still do great things and become a great stacker. my opinion there are no limits, we will see where the phrase comes from and the context where it was used.