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

aggroed (79)in #investment • 7 years ago (edited)

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.