You're 60 years old. Why should you start now investing in this weird crypto space?

in investment •  last year

So, you're nearing retirement. You have some money saved and you're thinking about your investments and about what you're going to leave behind for your family. You have a son or daughter that mentions Steemit, almost kinda nags about it, and you're wondering to yourself "why should I bother with that newfangled thing?"

1 Trillion

Right now the market cap of the crypto space is 100 Billion dollars and fluctuates around there. Over the next 5-10 years that's likely going to grow by an order of magnitude to 1 trillion or more. If you want transparency, speed, lack of regulation, questionable gray tax zone, and a bastion of free speech and liberty look no further than the crypto space.

It's volitile

If you like to watch your investments then this place is amazing and terrifying. If you like to set it and forget this place probably won't let you down. Crypto is very much the wild west. So, you get swings where bitcoin can lose 90% of it's value and take all the other coins with it. So, if you're sitting there waiting on your social security check to live it's probably a bad idea, but if you have some money that you're still able to invest for the long game then crypto is amazing. If you like to day trade you'd be hard pressed to find a place where the swings are larger. Look bitcoin just went from 3k to 1.9k and back up to 2.8. When have you seen IBM do that? You don't remember and it's not just the memory loss.

So, yeah, it's kinda scary, but if you learn a lot about this place and figure out what is moving the market you can make money on the way down, and the way back up, and the way back down, have some lunch and do again in the afternoon.

'Cus' Liberty

Look, you're probably a boomer. You likely fell for all the propaganda about America being the greatest nation ever while they glossed over bombing another set of countries and endless war during your lifetime. Maybe just maybe, something that your kids have said about "Maybe America shouldn't be in so many wars" or "If these are the two best candidates we can produce maybe there is something fundamentally wrong with our democracy" that actually resonated. Maybe something felt weird when the tsa agent was touching your breasts like you were some terrorist suspect or when they did it to your 4 year old granddaughter. You'd like to see a different world left for your kids, but you inherently know that you're not gonna get there using the same tools that built this one. Just take a second to think what would a different world look like? How could you make it better? I think you'll see some similarities to Steemit with future potentials.

You're tired of inflation

If you haven't noticed yet the money that you put in your bank account 10 years ago buys half as much shit today. That's not an accident. That's inflation. They hide the numbers by changing container sizes all the time and things like that, but it's hard to get away from the fact that you used to fill your grocery cart for $100 and now it's looking like $200 or more IF you're even able to pay that much. Inflation robs you every single day you live. The USG alone prints 160 million dollars a day. that's pure inflation, and you've been fed some bs that it's good for you, but since when was sky high housing and unaffordable groceries a good thing?

Crypto currencies have a very small amount of inflation. Some have none. While they aren't all technically deflationary some are so close that in comparison to government currencies they are functionally deflationary. That means 10 years from today your coins will purchase twice as many groceries as they could today. Yes, the prices fluctuate, but simply compared to inflation of US dollars if you're gonna hoard some currency let it be cryptocurrencies.

Steemit is fun

You read an article you liked by some super cute chica named Alla. You imported a savings account or two and sold some goldman sachs stock after realizing that the profits came because they did some shady shit. Now you have a boatload of steem, drop an upvote, and you hit that hot chica with a $100 upvote and before you even go to lunch you get a quick "thank you so much I"m so grateful." I mean that's amazing. You can print money with your stake. Where else can you do that? You want to help poor people in Africa? UPVOTE! BOOM! Dude has enough cash to build a well. Wanna help a buddy in Caracas cause Venezuelens deserve to eat too? UPVOTE! BOOM! Now that dude can feed his family for a week. It didn't cost you a penny, but now you're supporting people across the world. Face it, Steemit is fun!

You lived through a lot of shit, time to tell your story

Lastly, this world has so many examples of story telling. In fact, entertainment is one of the most heavily valued industries in the world. Look, dust off the old thinking cap after 50 years of taking orders in some corporate shithole and take charge of your life. Tell some stories, share some knowledge, and leave something on the blockchain that will literally be there forever. Tell your story, maybe your kids won't listen, but we will.

So, sell that shady stock and buy some crypto

You can thank me later, or more likely I'll be thanking you for some upvotes!

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Don't involve older people in crypto, please. It is too risky and volatile for them.

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yep you are right mate because crypto world is based on emotion fear of heart attack :-)

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Hah, heart attack is probably not what you need after 60 :-)

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lol :-)

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What if BTC goes back to $120 and the elderly bought at current prices? Ouch!

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Exactly!

I'm almost 60 but not quite. The draw of this is it's more than an investment, it's an outlet, a hobby, a community, and a library, too!

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agree!! I love it! Almost 60 as well! I've put sixties as a tag but maybe I'll start doing that every post! We rock!! :)

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Great points. This is a hobby for me too.

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Amen my brother from another mother with the same father from above....chaching!!

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To me it's a vote to opt out of FIAT and opt into Cryptos. No central bankers, no SEC and decentralized!

A lot of great points here. Cryptocurrencies make sense for so many reasons if you're 60. 1st of all, with advances in healthcare... you could easily live past 100! And, typical retirement savings plans are usually underfunded past age 85 or 90. With cryptos, you can place a small bet with a solid likelihood for a big return (10 X to 100X). Also, some of the brightest minds on the planet are in the space - either building sites like Steem or launching cryptocurrencies like EOS. Go to where the great minds are and your chance for huge profit is high!! Imagine if you bought Appple or Microsoft in the early days.

Definitely don't see why a 60 year old wouldn't get into Steemit or crypto for that matter. I'm trying to gradually ease my Dad into it - he is 81! I probably won't be able to get him on Steemit, but I do hope to eventually have him understand the cryptocurrency space and maybe even take a position in one of the Iconomi funds.

Great post.
I'm sending this by email to some aging relatives. Thanks

Besides the idea of getting paid to blog and comment, what made me love Steemit so much was that I can help people without having to give up my own cash. While I am happy to donate money to help someone or to support a cause, my funds are not infinite. So being able to give back even more by upvoting posts feels pretty amazing.

I like @aggroed because he posts great stuff, but this post crosses the line...

Right now the market cap of the crypto space is 100 Billion dollars and fluctuates around there. Over the next 5-10 years that's likely going to grow by an order of magnitude to 1 trillion or more.

OR


Cryptocurrencies are not a sound investment for seniors. Crypto is billions of dollars of air. There is nothing there. When a crypto washes out, the money is all gone. There is not even furniture, pens and copy machines to liquidate. It's all a total castle in the air.

There is no regulation. Any common crook can create a token, rake in the money and skip town. It's happening right now as I write. Hackers are looting cryptocurrencies for tens of millions all day long and you are recommending cryptocurrencies as an investment??

Young people can lose it all and start all over again. Seniors spent their life building their assets. If it goes, all that remains is declining health, destitution and poverty; not the greatest of lifestyles. Early death, however, is a viable option as it provides an acceptable exit strategy.

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He did say that it's not an investment for someone living paycheck to paycheck.

The crypto space is just about as full of crooks as Wall Street. Stocks are regulated but that only goes so far. Just ask everyone who was affected by Enron, Bernie Maddoff, Leman Brothers, or the rest of the financial services crash in 2008.

No one's saying dump everything you own into crypto. Responsible investing strategies advise that you never put more into any one asset class than you'd be comfortable losing and even then, use a trailing stop so that you don't lose it all. We're in such an early state that even a little bit put into bitcoin or a small basket of top tier currencies could outpace anything that's been seen in the stock market since the dot com boom of the early 90s.

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I was gonna write this, but decayin did it for meh. So, heres an upvote and follow for taking the words right out of my mouth!

I am only 45 but i would love to retire ...lol
i don't need too much money to survive and if the bitcoin will cost 500K (as McAffee says) in 3 years - 2020 i think i will be able to retire

i need to read this to my mom - she has always a lot to say - let her put it on here ans see the reactions of the rest of the world

I'm new to this, though not quite 60 yet. I think it's fun, and if I can makes some friends and get in on this crypto thing... why not? Thanks for sharing!

I'm 53, so not that far away from that. But my attraction to the crypto space has as much to do with diversification as anything else. Got some precious metals - not easy to take with you if you really need to bail out, or cross a border. We'll see how that works with crypto, but diversification gives you flexibility to respond to whatever way things turn if/when they turn south.

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lol, this two buddy are funny old man that rod makes me laugh when they are started laughing they fucking awesome people men.

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And this two men are the best example of @aggroed post .

Great article, actually, my sister's friend aged 62 has just withdrawn Euro 5000 from her freezer (I saw it myself) and has invested all of it into Litecoin.

Some little retard talked her into handing over her life savings and investing it into some hair brained get rich quick scheme.

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Litecoin has solid tech. I think Litecoin will be well over $100 in the near future, it's like silver to bitcoin's gold.

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For the solid tech Litecoin, I have my fingers and toes crossed, cannot walk or type now but I still have high hopes.

Brilliant Post, I've sent the link to my mum :D

Very true @aggroed, there is never a dull moment in crypto land. Plus, we are using the blockchain to make the world a better place every single day of the week! How awesome is that? And Alla is a pretty cool chica too!

Shit, if that picture shows what your average 60 year olds look like, I am one handsome & YOUNG looking Mo Fo.

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I know I know. I think they might be 80 :)

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I'm going to go with "I am one handsome & YOUNG looking Mo Fo."

Cryptos aren't age restricted! Everyone should use the opportunity to make some money :)

Buy buy buy bitcoin .....bitcoin ....

@maite hello spanish 😊

This is a very interesting topic , crytocurrency investment is long term, so one should only invest if you have extra cash that you want to put to work , thanks for sharing

Actually, I like this article. This is advice worth listening to and may be even following.

Certainly worth thinking about.

I agree now is the time the velocity of the growth and volatility in each makes for some huge opportinites. But it is important that people practice good risk management especially with

Well done! You know I am sharing this!

Quality writing, and funny to boot.

I'm 61. I got started in 2013. Very glad I did.

Well I'm in that age bracket, and sometimes I get to a point where it's all just overwhelming. But here I am on Steemit, writing post, sharing pictures, entering contest and collecting followers. Sometime I just shake my head...lol..following

Great article and very inspiring. At any age, I feel that crypto currancy can have life changing effects.

"You lived through a lot of shit, time to tell your story"

That takes the cake for me...we can all learn from what they went through more than books!

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you beat me on that! i second that.

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Just 1 problem... after 7 days the content is dead. If anyone even read it in its first 7 days. With all the little guys chasing the bigger guys hoping to catch some scraps and the bigger guys chasing the big money, is anyone even reading those great stories?

Oh yea... I forgot. The 60-year-old was supposed to have invested, so they COULD be a dolphin and get readers. Sorry, my mistake. I'm just thinking from the point of view of the 60-year-old who can't be troubled with the convoluted method of getting STEEM. (The article doesn't specify Steem as THE cryptocurrency to buy, but later, when referring to telling stories, the only platform I know of for that is Steem.) So yea, if you want more 60-year-olds to play the game, Steem has to be easier to buy.

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You are confused between getting paid vs being searchable forever (blockchain)!!

I still learn shitload from articles that are 1 year old.

And you dont have to buy steem to be part of this community.

Thank you for your comment though!

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The Original Post (OP) was regarding investing in crypto-currencies. Not about having your articles read forever on the blockchain. My apologies if I misunderstood where your comment came from.

I'm fully aware that you can be part of this community without buying Steem. What I would like is for those who have the power to exert their influence so that Steem can be bought more easily. Is that a bad thing?

Yes I agree, 60 years olds should be paying attention to cryptocurrencies!

Cuz FREEEEDOOOOOOOOOOOOOOMMMMM!!!!!!

thanks man, interesting topic... i'm in my 40s and have a hard time understanding it, so i can only imagine what the seniors think, peace

All of the above.

I'm not quite there yet, but it's good advice! I just made my introductory post today! Upvoted and Followed.

Let me know what you think of my first try.
https://steemit.com/introduceyourself/@itsallasong/hello-steem-family-thanks-for-the-welcome-introduction-post

I will tell my parents 😉

Age is just a number... people should always diversify and why not invest in crypto? This day an age it is nor unreasonable to live b/w 80-100 and sadly many people approaching retirement do not have the funds to survive another 20+ years... so if crypto investment can help.. why not??

Crypto is the way to go... Doesn't matter if you're 16, 36 or 60. It's currency democracy!

There are so many reasons to get into the crypto space, it is truly life changing and helps people to see the world from a different perspective!

Nice. Good points and fun to read.

I convinced my elderly mother to invest $6,000 so far that she got from selling her house, into cryptos.
She's made a good profit so far.

Great article!

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Which cryptos did she invest in and how long ago was it?

It's certainly an interesting space. If you like trading, there's nothing more exciting then crypto.

Ive finally convinced my parents to put some money in crypto and the last few days already has them excited lol

Very interesting point of view!

Upvoted.

You write like a freaking boss bro. I was glued to the whole thing. I dont want to be a in shithole the rest of my life and I dont want my 401k pulled from under me bc we all know how the 1% does. Thanks for giving perspective, I have nagged my family to get involved but they are kinda rigid and scared. I am going to have to read this to them and watch them catch the waves. 🌊🌊🌊.

You're a truly valued soul x my UPVOTE isnt worth alot but I gotta give it up anyways. ☝️☝️☝️

Yours Truly,

#Theeillgloryfactory 🙏🙏

I just turned 50, and I am so glad I took another look at crypto. Other than a dalliance with Bitcoin at the very beginning (which I converted to a Subway gift card for lunch.... about a $20,000.00 mistake if I had just kept it!) I haven't even considered investing in any crypto currency. I'm not sure, but I think even now, it's not to late to get in?

Thanks for sharing. I'm sending to my mother in-law and maybe her mom.

this is true, its something we have to look into. thanks for the info

Invest early and just hang out! Liking this article :)

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Karen, agreed. Invest as soon as you can. The sooner the better. Yes. Thanks.

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Solid advice! :)

You are never to old to learn! Putting money in the bank is a disaster waiting to happen, so why not check out the crypto before the crypt?

Great post aggroed. The explaination I fall back on with my parents and their friends is that these new crypto assets are tokens that are used to pay for access to toll roads. The more traffic on the roads, the greater the value of the tokens.

People will always pay for convenience and speed.

Totally agree !!! Nice reminder :D

Its never too late for anyone to join the crypto advantur. U will never be too young or too old for this !

You'd think 60 was old or something! ;)

Beats making "catch-up" contributions to an IRA

Great post! Please upvote and follow me @wealth777.. Much appreciated. thank u

The New World !!!!!!
Thanks

Gave you an upvote and followed. I am quite close to your articles target market. ha,ha I've invested some in crypto and joined Steemit just under 30 days ago. I actually spent time this weekend studying what a "Blogger is or does" ... apparently I am one now.

Steem has been a good coin and investment for me so far @joedirt here on Steemit. I purchased some more 'value' to reinvest in Steem Power for my account here when it went down this past week. I also have some other coins in an Exodus wallet.

I am learning through this process, and I already own the hardware (computer) to produce more steem coin with my account. I certainly would not be able to understand code to make a miner for coin, and this is more rewarding personally - aside from any profit. Thank you for your article.

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Sure thing. Thanks for reading!

Early or late 401k would adopt cryptos as well

Great artcicle and if our parents use computers and mobile devices then they can certainly manage to invest cryptocurrencies.

Steemit is fun inflation is not :)

A very good advice @aggroed.
Upvoted & followed you!!

Cause you can give your private keys to your grandchildren in your estate, and they will thank you in the same way children today thank grandparents who bought Disney decades ago.

nice
please can you upvote my comment

It is never late to live a better life ❤

Thanks for the information @aggroed
very help me
follow me @hattaarshavin

Good advice. I just persuaded my 64-year- old pal to invest all the money under her mattress in crypto.

I am only 19 but i would love to retire ...lol
i don't need too much money to survive and if the bitcoin will cost 500K (as McAffee says) in 3 years - 2020 i think i will be able to retire

...after reading this, it just confirms my feelings about starting this I'm not far from sixty, but it's good at any age to try something new, the bonus ...if pays off down the road, even better. Great post ...new follower here. We can enjoy growing together! :)

I'm almost 60, love it on here, and if money comes from it all the merrier. But enjoying the community. So I'm in the sixties steemit group and rolling along! :)

Age is just a number- mindset and vision are far more important. Cryptocurrencies are an exciting prospect for the future, regardless of one's age.

Great points that's why this is the right time to invest .

Great article!!!

Cool article @aggroed! Can I translate it so I can share with the Spanish community? :D

Great read! Followed. I can't agree more with what you said. I've got to share this with the older family members lol. Crypto is going to take over this rotten old financial system! I'm so excited to see what all this can bring to the table Already seeing lots! :)

Crypto is a good opportunity for anyone, young or old.
So so many people don't understand it; but as you mentioned, the swings are amazing. The opportunity for profit is far stronger than the stock market.
The risk is obviously greater, so only work with money that you can afford to lose.
The problem is the scammers abound. How do we let the new people know who to listen to?

So, sell that shady stock and buy some crypto
You can thank me later, or more likely I'll be thanking you for some upvotes!......that was the icing

Nice work

Wow interesting post, follow and see my content @bangjal

I love Crypto world!!

This post really inspires me

Great article, I have just turned sixty too and thought it high time I got to find out more about crypto currency and besides that I really like the community feel here. Thank you again

I'm a retiree and I like your piece of advice. thanks.

Chance game has 50/50 probability.

At that age sir I salute you! Respect !
Upvoted

Great post, thanks!

I'm 24 but I like this article here @aggroed. I will look for someone that also needs a well, I'm kidding, I do live in a third world country and Steemit can help tons of Filipinos. We're working on small charity projects and will probably launch a larger campaign.

The value of dollars here is pretty big, the minimum wage here per day is just around 10$. A person earning additinal 10$ here per week, will get them an additional day (if minimum wage is enough for them), if they happen to earn 100$ for a week, that's 10 days worth. Imagine if they constantly earn that amount. A year in Steemit will get them by for a year and 4 months? But let's face it, the earnings are not constant here, especially if you're a hardworking Steemian, you will not earn just $100 per week, it can go up to $1000 or more. A street vendor here earning that much won't have to work till they're 60!

This site is a great investment too. I see tons of Filipinos trying to get people here. I always introduce my invites to #minnowsupportproject right away. I grew in this pond. :D

Amazing article, cryptos are the future thats for sure.

Well said @aggroed! I'm 56, my wife is 52 and this all applies.

An important point to add-- especially in the context of the type of people ("free thinkers" and "independent spirits") likely drawn to Steemit, in the first place... is that many of us are self-employed, and if you take the long term perspective (5-10+) years this is also an outstanding opportunity to build an investment "nest egg" for the future, independent of Social Security (good luck with that!) and pension/retirement plans (looking more and more dubious every year)...

I definitely agree with you that crypto would be a smart thing to consider even for people closer to retirement, assuming they have a bit of manoeuvring room. It can act as insurance against a failing fiat currency, as well as possibly providing some solid monetary gains leading to a more comfortable retirement. With a platform like Steemit there's also obviously the opportunity to build an income stream that will help in retirement.
As for throwing around $100 upvotes to help people, I sure hope I can one day do that, what an amazing feeling it must be =)
Cheers

Think of your family... think of Bitcoin

With fidelity integrating coinbase it will be much more accessible to the older generation and judging by the last 8 years, with 60 being the new 40 a diversification into more stable crypto projects would be wise in this phase.

Great post!!

Nice info 👍 👍

I'm 25. Is this a good time to get in?

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I think you are still in front of the tsunami. Should be ok, but I'm not here to give investment advice.

Hey @aggroed , I am starting a podcast where I interview other entrepreneurs, I would like to invite to the inaugural episodes.

The podcasts will be hosted on my youtube account: https://www.youtube.com/nantchev

We talk about what you are currently doing in life, your business as well as your journey and any lessons or advice you want the world to know.
A casual conversation about entrepreneurship, and about you.

Now 66. Just signed up for my Social Security Check. Right now Crypto's are giving me some hope for the future. The Stock Market is looking like a fools Market. Too much collusion. Steemit is fun. Enjoying it.

It's really great! I am 46 and I believe it is never late to start something new:)

I just read your story because it was resteemed on my son (@Exyle) blog. I am the mother he writes about, who just bought a bitcoin. I also write on Steemit (@Clio) and I plan to buy more steem because I believe in Steemit and what it can mean for people all over the world. I will follow you from now on and upvoted you!

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Welcome! Wonderful to have you here!

Congratulations @aggroed!
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