Massive Run In Cryptocurrencies: A Demographic Look

In the United States, much was written about the Baby Boomer generation and the impact they had. Their financial might cannot be overstated. They were the largest generation in numbers which led to some of the greatest economic growth in U.S. history. One of the reasons the stock market took off was because of this generation.

It is often said that peak earning years start around 35 and last until the late 50s. This coincides with the stock market explosion which started around 1982. Not surprisingly, that is right around the time that the first Baby Boomers were entering their mid thirties.

As much attention as they received, there is another interesting fact that is often overlooked. The Millennials actually are a bigger group than the Boomers. Estimates are that there are somewhere around 80M+ Millennials with some estimates as high as 90M. This is large group of people.

The Millennial generation are those people born between 1981 and 2000. This makes 2016 the first year that some of this group hit 35.

Trust is a vital component to any system.

The generation before the Baby Boomers, called the Silent Generation, trusted the government. The Baby Boomers, many who were Vietnam Era, did not carry this with them. They did, however, trust corporations since many were able to forge careers with a single company and even retire with a pension.

Generation X did not have the same love for the corporation. Throughout the 1990s, they witnessed or were a part of massive consolidation among many companies which led to layoff after layoff. This peaks with the bursting of the dot com bubble which completely wrecked the economy. Of course, this led to the run up in the housing market which cost many people their homes, something the Millennials watched.

Hence, they have little trust for banks.

This is vitally important. The world of crypto-economics provides these people with trust on a digital platform. This generation is accustomed to operating in this realm. The virtual world is as familiar to them as the physical

Over the next decade, this group is about to enter their prime earning years.

Here we have a large group of people who will end up, collectively, dwarfing the other generations with their numbers who do not trust banks yet are digitally inclined.

These are ideal candidates for the crypto-economy.

At present, the cryptocurrency market is <$300B. Over the next decade plus, we will see that turn into trillions. This group of people will simply have too much financial might not to move it forward. Wall Street is well aware of this. It is a market that are salivating to get into.

The blockchains that appeal to this group of people will be the most successful. STEEM is in a good position since it is a specialty blockchain that is built around social media. To solicit this generation, the applications on this chain must be of interest to them. So what are the Millennials all about?

They are the mobile generation; they are not broadcast television but YouTube; they are gamers; they hate Facebook (Grandma uses that) but love Instagram; and they are the use, not own generation.

The Millennials will enhance this market in two ways. Unlike the groups ahead of them, they will not only buy tokens but use the applications that earn them. While they might have an interest in Bitcoin as an investment, other tokens that are tied to applications they like will garner their attention. This is where the development of a blockchain like STEEM is vital.

Another advantage they have is that, with the age of automation rapidly approaching, they are the ones with the background to excel moving forward. To start, they are accustomed to change which gives them a big advantage over previous generations. Also, they are all reared on computers so the entire population is computer literate. This will help them adapt to whatever skills are required going forward.

And this means money. As the older generations are right-sized, out-sized, retired, or put out to pasture, this is the group that will step in to take the jobs. This puts in them in prime position to engage in blockchain commerce since buying online is as natural to them as breathing.

This is not going to be an overnight transition. It will take a number of years for this particular aspect of things to evolve. However, for those looking past the FUD of the media which is saying this is nothing but a fad, here is evidence that a large group of people just from the U.S. will be joining the crypto-economic arena.

It is also one of the reasons why this has the possibility of surpassing the Internet boom of 25 years ago.

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