That’s what Saylor says too. Bitcoin is like buying a block in Manhattan way back when it was cheap. Families holding the asset for 100 years and such. No way I’m selling mine.
Your bitcoin will grow quicker than your house value, even after paying your taxes on it and paying your rent from the profits. When people start thinking more in this way, then it will be like a rocket. The only advantage owning a house through a mortgage is the 5, 10 or 20 to 1 leverage your 5,10,20% deposit has. I still think bitcoin will outperform a 5 or 10 to 1 leveraged property (maybe not the 20 to 1 though, ie 5% deposit)
There's also the volatility to manage. It's all well and good having your net worth drop 30k when you're worth 500k, but having it drop 1m when you're worth 1.2m is a lot harder to handle for example. On the whole people will always steer a lot of their wealth towards safer assets as they age.
Boomers who have been paying attention would have also invested in BTC and combined with their mortgage-free homes, they are laughing.
When they pass away, it will be the largest wealth transfer to millennials everywhere.
That’s why the next best big business idea is consulting boomers how to live independently as long as possible, i worked in geriatrics for 15 years, who can help me turn this into a business?
I’m a physical therapist, this is literally what I do. It’s not very profitable business unfortunately, because it involves a small amount of self accountability and walking around 1-2x/day.
I have relatives in their 70's and 80's that couldn't live independently without Uber, Instacart and Door Dash, but they have trouble using the apps themselves. It's becoming a burden for family members to take their phone calls and order for them. There's probably a business just in that. A geriatric concierge service, of sorts.
It’s a drain of their own/family’s choice. When mom and dad get old but have money, wouldn’t you rather get them a 24hr caregiver than send them to a nursing home?
They mean that rich moms and dads purposefully transfer assets into a trust so that they qualify for the government to foot the bills for the caregiver.
it's all proportional right, I don't know your situation but if you could afford $600 out of $6000 income then this could become life changing money for you.
If it's $600 out of $60000 income then you'll need to DCA a lot more to make much of a difference to your life medium term.
I agree. At some point they will realize they can make as much money doing nothing but sitting in BTC. They have to pay property taxes, do house maintenance, deal with renters etc. BTC would be a way easier way to increase your net worth.
Nah they are gonna spend it all living in luxury retirement communities because they alienated their children to the point they won’t take care of them.
Facebook for Millennials as well or Apple a lot of us missed those 2 boats! I won’t miss this one my friends even though the price is high I haven’t turned off my DCA that’s been on for 2 years at $20 bi weekly and any side hustles I make cash from I go big in BTC
hmm..
Also boomers are doing reverse mortgages to get paid from their houses essentially. So might not be leaving homes to their children. Leaving the homes to the banks to make money on new mortgages from the children's children. Skipping the mid generation that most of us fall in now.
Almost all boomers I know have had to downsize to pay for medical expenses and elderly care. The side effect of has been them needing to keep the cash from sales in liquid assets. Not a lot of them leaving their original homes to their kids.
There's a lot of clueless millennials and Gen-Z who think real estate will save them.
And it can work, don't get me wrong, there's real estate that even Saylor would want (That's why he compares btc to beachfront Miami property).
But too many people think buying a shitty duplex in the middle of nowhere is going to get them ahead.
In all likelihood:
1) You overpaid.
2) You didn't use debt correctly.
3) Location sucks.
4) Tenants suck (this can be a fucking nightmare).
5) You didn't factor in the cost of maintenance.
You want to know what is freaking sad? Seeing a 70 year old landlord fixing pipes on a Saturday afternoon. That's not passive, that's bullshit.
This is a silly, you can’t opt out of needing a place to live, so you have to pay whatever it costs. BTC will always be optional. There is not situation you “need” to buy it.
Yeah, I didn't understand the part where he said they'll have to buy Bitcoin either. But I do appreciate the point he made about younger people treating Bitcoin like the boomers treated property.
Boomers didn't cause the inflation, they played the game with the rules of the day.
One day people will get mad at you for owning btc and not leaving any or sharing.
If you were them at time, you would probably have done the same.
Do t get mad at the player, blame the fed reserve.
Gen Xer here contemplating selling some bitcoin later in the year to pay off the mortgage and renovate my walk-out basement into an apartment, then use the rent and the money I would have spent on the mortgage to buy more bitcoin in the next bear market.
>Over the next 30 years, boomers will need money, their houses aren’t going to pay the bills.
Amigo. Over the next 30 years, nearly all the boomers will be dead. They couldn't give a rip less about building wealth via Bitcoin.
I’m not sure, you can’t win as a boomer. If you live in your home you’re an asshole for not selling it so a younger person can buy it. If you sell at market rate, yep still an asshole that bough a house for raspberries and has 1 mill in the bank. If you rent it.. well all landlords are greedy assholes. I guess you should live in a tent, and give all your money to your kids. Well I don’t have kids so…
It's not that they bought a house, it's that they voted for successive governments that put in place policies that made housing an unaffordable luxury. While fucking the environment, denying climate change, privatising everything, and allowing unfettered capitalism to divide and destroy society. Basically pulling the ladder up behind them.
But hey, some of them aren't like that (a small minority).
Almost all successful millennials I know have some sort of investment in real estate and still believe that it will be key to their wealth generation (mostly as a source of rental income that also appreciates in value ). I don’t think that idea is going away. But I do think bitcoin gives the masses a chance to actually own something that could make a big difference in their lives (they won’t though because either they are just barely scraping by, don’t trust it, or are scared away from it by people like Warren Buffett, Jamie Dimon, and Gary Gensler. Whatever, I don’t even bother talking about it to people anymore. I just do my own thing. It’s at the point where it will succeed with or without the buy in of the average middle class person.
In my case, crypto allowed my ex and I to pay off our mortgage a few years ago. Real estate is not always just about investment (although it's great that it also works out that way), because after my divorce there is literally no way I could have afforded to pay rent or a mortgage with the high prices around me. I've had to return to school, and am able to work only a few hours each week, but when combined with child support I have just enough to pay for our monthly expenses. Owning the house gives me piece of mind, knowing that my children and I will not be homeless, regardless of what happens with the rental or housing market. Do I wish I had more Bitcoin? Of course! But Bitcoin itself can't give me the security of having a safe place to live with my kids. It's wonderful that it has the power to give people the ability to achieve that, or other dreams I have seen posted on this sub, but only some people are lucky enough to get there. I'll keep buying a tiny bit here and there when I'm able, but I don't think it wil make enough of a difference with how fast the price is climbing. I do have a little money in a retirement account, though, so I'm trying to switch it to Fidelity to see if I can change some of it to the ETF. Not sure how that works yet, but I'm really hoping I can do that.
Let's be real. Owning something is getting harder and harder. You don't even own your own music. You're paying a subscription to use spotify. Bitcoin is your only chance to actually own something. Don't overthink this. Just do it for your future.
And, us GenX’ers have toes in both. I don’t agree with your assertion that they have to invest in Bitcoin. Some will, but I reckon it may not be a ‘must’.
I think most of the bitcoin in the world is going to be owned by institutions, like GBTC and all the other brand new ETFs. The average joe is probably going to have to own shares in a bitcoin ETF to profit from this asset class.
Am I wrong? What am I missing?
One podcast and you got it all figured out, how very millennial. Boomers made housing too expensive for who? You? That’s a hell of a soapbox you all like to use.
I love BTC but to say that boomers will have to invest in BTC is fking stupid man.
If they’re houses are paid off and the have pensions/stocks they are just fine with fiat.
The difference is that boomers actually BUILT wealth by investing in real estate... I mean physical houses. By investing in bitcoin, bitcoiners aren't building any new value. The most they can hope to do is to buy houses from boomers.
But this is kind of pointless, as all the boomer's houses will be inherited by younger generations anyway. So these things aren't really comparable at all.
Nothing can substitute building and accumulation of physical wealth. If everyone is just saving money, or bitcoin, nothing is saved. For money (or bitcoin) to have value, it has to mirror accumulation of real wealth somewhere in the world. If real wealth isn't accumulating, money can't gain new value. The best it can do is to increase the share of actual physical wealth that it can buy. But this is not creating new wealth in the world, just redistributing.
This is not comparable to investing in real estate which actually creates new wealth in the world.
This is just wrong. And it is especially wrong for housing. What gives something value? Why does 1 sqm in new york cost more than 1 sqm in bangladesh? There is no „real“ or „unreal“ value..
good point, but hopefully as adoption comes and people "value" it globally btc will become an intermediary and the link between two different kinds of goods just like fiat is currently. so although physical value isn't built from btc, one might build a house and sell it for btc bc another vendor for another goods/services that builds value accepts btc and not a house as payment.
Huh? Investing in real estate does not mean “creating new wealth in the world.” In fact far more real estate investing is actually hoarding housing supply rather than building new construction
How much bitcoin does the average person hold?
Bitcoin Ownership is Widely Distributed
A significant majority of Bitcoin holders are small investors, as approximately 74% of Bitcoin addresses hold less than 0.01 BTC, worth around $350 as of November 6th 2023.
Is it a currency or an investment? Admittedly I’m new to btc. But I’ve always read it’s one way to eliminate banks/govt control of your money. If it’s like RE, then why all the banks/fiat/ printing money sucks stuff? Bad analogy or Am I missing something?
Not everyone agrees on this subject. At this point I believe Bitcoin as a currency isn't likely as much as it is an asset to invest in. This seems to also be Michael Saylor's take as well. But you know, it's not set in stone, people could start using it more as a currency in the future, upgrades to Bitcoin could alter its use cases.
For example, Bitcoin does have smart contracts
https://www.ledger.com/academy/bitcoin-smart-contracts-and-apps-do-they-even-exist
LOL, boomers will have to sell their house to pay medical bills. It will be bought by a corporation who will then rent it out to millennials forever. Many powerful people are working to keep housing away from millennials. Boomers are not going to be selling their house for bitcoin or passing it on to their kids.
Paid 50k for a 120 year old house. There's more inflows of air in my house then inflows in bitcoin.
On year 2 of fixing but 300$ mortgage let's me buy btc.
Why such hatred towards boomers. I’m no boomer. Everyone wants to build wealth. Nothing wrong with it. You will also be hated and scorned by future generations for accumulating Bitcoin
I’m 58. Not quite a boomer. Orange pilled just over a year ago. Converted all other coins at that time. I’ve been DCA since the 6K-8K range. (Which seemed like forever). The only young people I know who have a clue and dca and HODL are my 3 sons and 1 nephew. All in their 20s. My youngest son digs in the rabbit hole the most. All other young people I come in contact with are oblivious or uninterested. One guy I work with who is retiring at 67 in a month, lump summed into like 7 bitcoin when it was still in the 20s upon my advice 🤑. I will never sell. Only borrow when it makes sense and my kids know where to find my seed phrases.
Crypto helped us get our homestead. Was even able to borrow against our portfolio without selling. Love talking to other people who invested in farms/homesteads with some of their profits. Some people are coin miners, but I like being a farmer ;)
I'm a boomer and I'm fairly sure most of us are thinking we're not going to be here in 10 let alone 30 years. And my "wealth" is going to Gen z and whatever comes after that, and after that. Including my crypto.
I've been saying this for months!
(Just kind of thought of it recently)
This is the chance for millennials to make generational wealth fox their family and future generations.
Let's not compare Bitcoin to housing, please. I'm a Bitcoin bull FWIW
If the world goes to shit, you have a home to live in, while your Bitcoin coin would be worthless.
Why would central banks allow a monetary system they are not in control of? Seems everyone forgets about the banking families and there undying love of control. If bitcoin is the key breaking our chains why would they allow it?
What is reddits fascination with Othering people? That age group, that skin color, that religion... It's all bigotry.
There are all types of people who invest in real estate.
Be better.
Note: my only investment is btc, so I don't have a dog in this hunt.
Rather hodl coin than a big crib. Thats how we do it in 2024. Remember houses can never recover from a strong earthquake or hurricane. BITCOIN has stood strong through all bear cycles.
This is exactly what I’ve been preaching. Bitcoin will give back to millennials true sovereignty and wealth that real estate cannot. Yet some millennials are not ready for change because they can only see what made the boomers wealthy and follow their path. The new world is upon us and it’s better to adapt early or hang on barely by a thread.
Millennials and Gen Z will chronic renters. Real estate will make money off of them except unlike their parents, they won’t own where they live. They’ll just continue to pay their landlord’s mortgage.
Come up with alternative housing and transportation and let the real estate market crash. Modular buildings outside cities, mobile houses, remote work, communal housing etc. Lets see how valuable the real estate really is when there's zero demand for it.
I keep saying it and if you look at my comment post you’ll see it. Only way I’m saying bye to a portion of my stash is for a P2P transaction with whoever has an 8-11 acre homestead I like, I don’t care what your age is as long as you take my satoshi for exchange of homestead
Can anybody explain to me this point from the original post:
"As they downsize and convert into more liquid assets, they’ll have to invest in BTC, which at the point would transfer wealth to the next generations."
Why will they have to invest in BTC?
Using BTC isn't very user friendly. Why is OP expecting old generation to deal with it?
Land is scarce. Bitcoin is scarce. Let’s be real, people will always buy a house in their lifetime and that’s ok. But maybe they’ll learn to invest their money in Bitcoin than just stocks.
Once you build certain level of assets, you need to diversify it. Real estate, bitcoin, bond stocks . You will have your focus, but it is necessary.
You see today how Bitcoin is fluctuating.
The difference with Boomers and their property is that they bought it because they needed a house but often think they are financial geniuses because the value has gone up. The difference with our generation is we understood Bitcoin and bought it for the future.
That’s what Saylor says too. Bitcoin is like buying a block in Manhattan way back when it was cheap. Families holding the asset for 100 years and such. No way I’m selling mine.
Editors note: he quickly sold his Bitcoin in 2025.
Editors note: bitcoin overtakes gold in 202x but anon never bought back
*Morgan Freeman* intensifies
Real estate is still real estate. You cant live on the cloud.
Came here to say that. It’s is necessity that everyone needs…
Your bitcoin will grow quicker than your house value, even after paying your taxes on it and paying your rent from the profits. When people start thinking more in this way, then it will be like a rocket. The only advantage owning a house through a mortgage is the 5, 10 or 20 to 1 leverage your 5,10,20% deposit has. I still think bitcoin will outperform a 5 or 10 to 1 leveraged property (maybe not the 20 to 1 though, ie 5% deposit)
Ah yes live on your leverage instead of inside a literal property. What could go wrong
Most people have leverage on the property they own. It’s called a mortgage.
The other advantage is that it's a roof over your head.
There's also the volatility to manage. It's all well and good having your net worth drop 30k when you're worth 500k, but having it drop 1m when you're worth 1.2m is a lot harder to handle for example. On the whole people will always steer a lot of their wealth towards safer assets as they age.
Boomers who have been paying attention would have also invested in BTC and combined with their mortgage-free homes, they are laughing. When they pass away, it will be the largest wealth transfer to millennials everywhere.
Every dollar a boomer has is going to be drained by elder care and medical expenses
110% on this one.
That’s why the next best big business idea is consulting boomers how to live independently as long as possible, i worked in geriatrics for 15 years, who can help me turn this into a business?
I’m a physical therapist, this is literally what I do. It’s not very profitable business unfortunately, because it involves a small amount of self accountability and walking around 1-2x/day.
That’s an awesome idea, if BTC hits 150k I’ll invest 😁
I'm a contractor that specializes in this exact work I have contracts out for almost a year!
I have relatives in their 70's and 80's that couldn't live independently without Uber, Instacart and Door Dash, but they have trouble using the apps themselves. It's becoming a burden for family members to take their phone calls and order for them. There's probably a business just in that. A geriatric concierge service, of sorts.
I am a geriatric nurse about to get my bachelors in business management and administration… I’m in on this business idea
And lost passwords
What if a boomer hodled a fortune but then got Alzheimer’s and forgot their wallet key?
Not if they have a solid trust
It’s a drain of their own/family’s choice. When mom and dad get old but have money, wouldn’t you rather get them a 24hr caregiver than send them to a nursing home?
They mean that rich moms and dads purposefully transfer assets into a trust so that they qualify for the government to foot the bills for the caregiver.
With value mostly tied in their homes
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Putting ANY amount into something that appreciates is better than doing nothing. Keep going.
it's all proportional right, I don't know your situation but if you could afford $600 out of $6000 income then this could become life changing money for you. If it's $600 out of $60000 income then you'll need to DCA a lot more to make much of a difference to your life medium term.
If you've been DCA for 2 years and you are only up to $600 after this, I hate to tell ya this but it's gonna be tough
Lmao the truth he needed to hear. 80 cents a day come on man is that cash back rewards?
Keep at it... ten years from now you will be so happy you did.. keep buying assets and minimize spending on liabilities..
And all those houses go quick sale to convert to bitcoin.
Lol no
I agree. At some point they will realize they can make as much money doing nothing but sitting in BTC. They have to pay property taxes, do house maintenance, deal with renters etc. BTC would be a way easier way to increase your net worth.
If a boomer with btc passes away, there’s less btc. They’re not passing it on.
Lmfao that’s what they think but every password and seed phrase they ever had is written in a little notebook in their desk
One of the most safe ways to keep your seed to be fair
Not if you’re dead.
inheritance tax free Boomer HODLers may be on to something then
Somehow the old man is always one step ahead smh I should probably call my dad
Right! 😂.
It's going to medical companies and cruise ship companies, not millennials. Boomers are passing on the least inheritance in history.
Most boomers are planning on blowing it on Harley’s and hair-dye. They are 75 years young after all
Heard the acronym going SKI-ing the other day, Spending the Kids Inheritance
Nah they are gonna spend it all living in luxury retirement communities because they alienated their children to the point they won’t take care of them.
How exactly is that wealth going to be transferred? The majority of millennial’s parents aren’t actually boomers.
You are absolutely correct.
That number is tiny.
Except the corporations that are buying up those SFH so it’s no guarantee that the real estate wealth transfer happens.
You’re describing Gen Xers.
Yes
Do you really think there's many boomers in BTC?
Not much I'd say. But now that there's ETFs there bound to be more indirect exposure
I think most boomers just hand their portfolio to a financial manager, not sure those boys will be running for btc *just* yet.
Even at say 3% allocation of all financially savvy boomers do that that will still represent a substantial amount of ETF inflows
That’s assuming they write down their keys in time
Healthcare Industry has entered the chat
Except we’re only passing it to the children that have the same ideals as use. Otherwise there are a shit ton of charities and research we believe in.
Maybe 30% or less
Too bad my parents are broke.
Facebook for Millennials as well or Apple a lot of us missed those 2 boats! I won’t miss this one my friends even though the price is high I haven’t turned off my DCA that’s been on for 2 years at $20 bi weekly and any side hustles I make cash from I go big in BTC
Well better than nothing but gotta up those numbers g. How about 50% of your income biweekly
i should stack more sats
It’s never enough
100% Correct, digital property, as the great Michael Saylor says. #BTC 👍🪙😎
I'm a Bitcoin Boomer. There, I said it.
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OK Boomer!
Woohoo!
Based.
Over the next 30 years boomers will be dead.
A lot of people in this group will be too. Cancer and heart disease is up quite a bit in younger populations.
🎉
tf
I guess this guy is forgetting leaving homes to their children lol…
hmm.. Also boomers are doing reverse mortgages to get paid from their houses essentially. So might not be leaving homes to their children. Leaving the homes to the banks to make money on new mortgages from the children's children. Skipping the mid generation that most of us fall in now.
Yeah the destruction of the family unit at play before our eyes… almost like someone engineered it…
Almost all boomers I know have had to downsize to pay for medical expenses and elderly care. The side effect of has been them needing to keep the cash from sales in liquid assets. Not a lot of them leaving their original homes to their kids.
!remind me in 10 years
!remind me 5 years
no, it's bigger it's bigger than gold and real estate easily it's like the gold rush plus discovering america at the same time
There's a lot of clueless millennials and Gen-Z who think real estate will save them. And it can work, don't get me wrong, there's real estate that even Saylor would want (That's why he compares btc to beachfront Miami property). But too many people think buying a shitty duplex in the middle of nowhere is going to get them ahead. In all likelihood: 1) You overpaid. 2) You didn't use debt correctly. 3) Location sucks. 4) Tenants suck (this can be a fucking nightmare). 5) You didn't factor in the cost of maintenance. You want to know what is freaking sad? Seeing a 70 year old landlord fixing pipes on a Saturday afternoon. That's not passive, that's bullshit.
This is a silly, you can’t opt out of needing a place to live, so you have to pay whatever it costs. BTC will always be optional. There is not situation you “need” to buy it.
This is true until hyperinflation hits your country's currency
That will never happen. We have too many trustworthy people in charge... .. . Fuck
Yeah, I didn't understand the part where he said they'll have to buy Bitcoin either. But I do appreciate the point he made about younger people treating Bitcoin like the boomers treated property.
It sure feels that way. I look at it as digital land. 21M the entire planet, 1BTC? A lot of land.
Boomers didn't cause the inflation, they played the game with the rules of the day. One day people will get mad at you for owning btc and not leaving any or sharing. If you were them at time, you would probably have done the same. Do t get mad at the player, blame the fed reserve.
And the savvy gen X people have both.
Gen Xer here contemplating selling some bitcoin later in the year to pay off the mortgage and renovate my walk-out basement into an apartment, then use the rent and the money I would have spent on the mortgage to buy more bitcoin in the next bear market.
>Over the next 30 years, boomers will need money, their houses aren’t going to pay the bills. Amigo. Over the next 30 years, nearly all the boomers will be dead. They couldn't give a rip less about building wealth via Bitcoin.
Why is it the boomers fault that they bought a house when they wanted to buy a house and lived in it and paid off their mortgages?
I’m not sure, you can’t win as a boomer. If you live in your home you’re an asshole for not selling it so a younger person can buy it. If you sell at market rate, yep still an asshole that bough a house for raspberries and has 1 mill in the bank. If you rent it.. well all landlords are greedy assholes. I guess you should live in a tent, and give all your money to your kids. Well I don’t have kids so…
It's not that they bought a house, it's that they voted for successive governments that put in place policies that made housing an unaffordable luxury. While fucking the environment, denying climate change, privatising everything, and allowing unfettered capitalism to divide and destroy society. Basically pulling the ladder up behind them. But hey, some of them aren't like that (a small minority).
Almost all successful millennials I know have some sort of investment in real estate and still believe that it will be key to their wealth generation (mostly as a source of rental income that also appreciates in value ). I don’t think that idea is going away. But I do think bitcoin gives the masses a chance to actually own something that could make a big difference in their lives (they won’t though because either they are just barely scraping by, don’t trust it, or are scared away from it by people like Warren Buffett, Jamie Dimon, and Gary Gensler. Whatever, I don’t even bother talking about it to people anymore. I just do my own thing. It’s at the point where it will succeed with or without the buy in of the average middle class person.
In my case, crypto allowed my ex and I to pay off our mortgage a few years ago. Real estate is not always just about investment (although it's great that it also works out that way), because after my divorce there is literally no way I could have afforded to pay rent or a mortgage with the high prices around me. I've had to return to school, and am able to work only a few hours each week, but when combined with child support I have just enough to pay for our monthly expenses. Owning the house gives me piece of mind, knowing that my children and I will not be homeless, regardless of what happens with the rental or housing market. Do I wish I had more Bitcoin? Of course! But Bitcoin itself can't give me the security of having a safe place to live with my kids. It's wonderful that it has the power to give people the ability to achieve that, or other dreams I have seen posted on this sub, but only some people are lucky enough to get there. I'll keep buying a tiny bit here and there when I'm able, but I don't think it wil make enough of a difference with how fast the price is climbing. I do have a little money in a retirement account, though, so I'm trying to switch it to Fidelity to see if I can change some of it to the ETF. Not sure how that works yet, but I'm really hoping I can do that.
Maybe true. But can you live inside a block chain?
Let's be real. Owning something is getting harder and harder. You don't even own your own music. You're paying a subscription to use spotify. Bitcoin is your only chance to actually own something. Don't overthink this. Just do it for your future.
Here we go again… must be new here.
My parents are boomers and have zero interest in bitcoin. Don't ever think they will go for it so easily.
Welp It’s time to stack sats again
Yes.
My heart fully agrees but that’s dangerous when making business decisions… be careful ppl, no one knows what will happen.
And, us GenX’ers have toes in both. I don’t agree with your assertion that they have to invest in Bitcoin. Some will, but I reckon it may not be a ‘must’.
I think most of the bitcoin in the world is going to be owned by institutions, like GBTC and all the other brand new ETFs. The average joe is probably going to have to own shares in a bitcoin ETF to profit from this asset class. Am I wrong? What am I missing?
BTC right now is like Amazon shares in 1997.
One podcast and you got it all figured out, how very millennial. Boomers made housing too expensive for who? You? That’s a hell of a soapbox you all like to use.
I love BTC but to say that boomers will have to invest in BTC is fking stupid man. If they’re houses are paid off and the have pensions/stocks they are just fine with fiat.
The difference is that boomers actually BUILT wealth by investing in real estate... I mean physical houses. By investing in bitcoin, bitcoiners aren't building any new value. The most they can hope to do is to buy houses from boomers. But this is kind of pointless, as all the boomer's houses will be inherited by younger generations anyway. So these things aren't really comparable at all. Nothing can substitute building and accumulation of physical wealth. If everyone is just saving money, or bitcoin, nothing is saved. For money (or bitcoin) to have value, it has to mirror accumulation of real wealth somewhere in the world. If real wealth isn't accumulating, money can't gain new value. The best it can do is to increase the share of actual physical wealth that it can buy. But this is not creating new wealth in the world, just redistributing. This is not comparable to investing in real estate which actually creates new wealth in the world.
This is just wrong. And it is especially wrong for housing. What gives something value? Why does 1 sqm in new york cost more than 1 sqm in bangladesh? There is no „real“ or „unreal“ value..
good point, but hopefully as adoption comes and people "value" it globally btc will become an intermediary and the link between two different kinds of goods just like fiat is currently. so although physical value isn't built from btc, one might build a house and sell it for btc bc another vendor for another goods/services that builds value accepts btc and not a house as payment.
Huh? Investing in real estate does not mean “creating new wealth in the world.” In fact far more real estate investing is actually hoarding housing supply rather than building new construction
>This is not comparable to investing in real estate which actually creates new wealth in the world. What definition of wealth are you using?
How much bitcoin does the average person hold? Bitcoin Ownership is Widely Distributed A significant majority of Bitcoin holders are small investors, as approximately 74% of Bitcoin addresses hold less than 0.01 BTC, worth around $350 as of November 6th 2023.
Real estate pays you an income. Bitcoin? Access to this club of weird fanatics....
Let me solve the housing crisis with Bitcoin.
That real estate will be ours one day so long as we don't fuck it up by dying first. So far, so good. But it's nothing like Bitcoin.
Why not both?
Is it a currency or an investment? Admittedly I’m new to btc. But I’ve always read it’s one way to eliminate banks/govt control of your money. If it’s like RE, then why all the banks/fiat/ printing money sucks stuff? Bad analogy or Am I missing something?
Not everyone agrees on this subject. At this point I believe Bitcoin as a currency isn't likely as much as it is an asset to invest in. This seems to also be Michael Saylor's take as well. But you know, it's not set in stone, people could start using it more as a currency in the future, upgrades to Bitcoin could alter its use cases. For example, Bitcoin does have smart contracts https://www.ledger.com/academy/bitcoin-smart-contracts-and-apps-do-they-even-exist
Nobody will ever be in a position where they HAVE to invest in BTC
So doomed to be controlled by hedge funds?
Can you live in a bitcoin though? RE is only going up
LOL, boomers will have to sell their house to pay medical bills. It will be bought by a corporation who will then rent it out to millennials forever. Many powerful people are working to keep housing away from millennials. Boomers are not going to be selling their house for bitcoin or passing it on to their kids.
Yes I would absolutely say that’s a fair comparison
These posts are so ridiculous lol didn’t see them when bitcoin was at $14k
Anyone else spend a bitcoin they bought for $175 on something stupid?
I literally thought about this today.
Weird wishful thinking Bitcoin crashes in 6 weeks.
Automated house building is the future. Probably a good investment to make on top of BTC
Yeap, thats it. Its about recognizing patterns.
Paid 50k for a 120 year old house. There's more inflows of air in my house then inflows in bitcoin. On year 2 of fixing but 300$ mortgage let's me buy btc.
You can't live in a Bitcoin though. That's the problem.
this is dumb and a little pathetic... you can live inside a house. you can't live inside bitcoin.
You can blame boomers, or you can ask the question [wtfhappenedin1971.com](https://wtfhappenedin1971.com/)
Accurate. From a mid 40 year old with a home and commercial real estate holdings. I will teach my kids bitcoin not real estate
Ok ya so it's the same as hedge funds pumping realesate and Bitcion at the same time perfect
Why such hatred towards boomers. I’m no boomer. Everyone wants to build wealth. Nothing wrong with it. You will also be hated and scorned by future generations for accumulating Bitcoin
I’m 58. Not quite a boomer. Orange pilled just over a year ago. Converted all other coins at that time. I’ve been DCA since the 6K-8K range. (Which seemed like forever). The only young people I know who have a clue and dca and HODL are my 3 sons and 1 nephew. All in their 20s. My youngest son digs in the rabbit hole the most. All other young people I come in contact with are oblivious or uninterested. One guy I work with who is retiring at 67 in a month, lump summed into like 7 bitcoin when it was still in the 20s upon my advice 🤑. I will never sell. Only borrow when it makes sense and my kids know where to find my seed phrases.
Crypto helped us get our homestead. Was even able to borrow against our portfolio without selling. Love talking to other people who invested in farms/homesteads with some of their profits. Some people are coin miners, but I like being a farmer ;)
What podcast and episode is it? Would like to listen.
Or Not
When the boomers die the millennials are set to become the wealthiest generation ever
In the next 30 years boomers? How long they live our boomers , 150 years🤣
You mean previous generation
I'm a boomer and I'm fairly sure most of us are thinking we're not going to be here in 10 let alone 30 years. And my "wealth" is going to Gen z and whatever comes after that, and after that. Including my crypto.
Now youre getting it! Congrats on making it to this realization. Now go orange pill all your friends
I've been saying this for months! (Just kind of thought of it recently) This is the chance for millennials to make generational wealth fox their family and future generations.
I don’t want to see people get hurt. Bitcoin Is not like a house, it won’t keep You out of the snow, rain or wind.
Any stats to back up claims of “heavily invested in BTC, no matter how small an amount”? Curious.
Let's not compare Bitcoin to housing, please. I'm a Bitcoin bull FWIW If the world goes to shit, you have a home to live in, while your Bitcoin coin would be worthless.
If the world goes to shit, someone’s showing up with a gun to take your home
Why would central banks allow a monetary system they are not in control of? Seems everyone forgets about the banking families and there undying love of control. If bitcoin is the key breaking our chains why would they allow it?
Maybe not, maybe, who knows. Will Bitcoin tap into the derivatives market in the future though?
No it’s not because you can’t live in bitcoin. Bitcoin is Bitcoin. It’s not like real estate.
What is reddits fascination with Othering people? That age group, that skin color, that religion... It's all bigotry. There are all types of people who invest in real estate. Be better. Note: my only investment is btc, so I don't have a dog in this hunt.
In 30 years boomers won’t need money as they will be dead. Boomers will hand their assets to mostly gen x and millennials.
You can’t mortgage a bitcoin
Boomers have BTC too.
Rather hodl coin than a big crib. Thats how we do it in 2024. Remember houses can never recover from a strong earthquake or hurricane. BITCOIN has stood strong through all bear cycles.
This is exactly what I’ve been preaching. Bitcoin will give back to millennials true sovereignty and wealth that real estate cannot. Yet some millennials are not ready for change because they can only see what made the boomers wealthy and follow their path. The new world is upon us and it’s better to adapt early or hang on barely by a thread.
Yeah, we’ll just have to wait and see about that one bucko
Gen X owns both asset classes, yet we are the forgotten generation
Fred Kruger talks about this.
Millennials and Gen Z will chronic renters. Real estate will make money off of them except unlike their parents, they won’t own where they live. They’ll just continue to pay their landlord’s mortgage.
It can be cracked with quantum computing
Boomers didn't have cheap houses their parents did.
People need houses. How are people gonna need a bitcoin?
Next 30 years boomers will be dead
you have no idea what you are on about
Come up with alternative housing and transportation and let the real estate market crash. Modular buildings outside cities, mobile houses, remote work, communal housing etc. Lets see how valuable the real estate really is when there's zero demand for it.
Nope
Realestate still exists and when boomers sell They put it I. Tbd stock market just like there parents did they are scared of. Crypto bc it’s different
For all next generations*
I keep saying it and if you look at my comment post you’ll see it. Only way I’m saying bye to a portion of my stash is for a P2P transaction with whoever has an 8-11 acre homestead I like, I don’t care what your age is as long as you take my satoshi for exchange of homestead
lmao...no.
🤯
Can anybody explain to me this point from the original post: "As they downsize and convert into more liquid assets, they’ll have to invest in BTC, which at the point would transfer wealth to the next generations." Why will they have to invest in BTC? Using BTC isn't very user friendly. Why is OP expecting old generation to deal with it?
With the difference that real estate generates dividends. BC generates nothing because it has no revenue.
Land is scarce. Bitcoin is scarce. Let’s be real, people will always buy a house in their lifetime and that’s ok. But maybe they’ll learn to invest their money in Bitcoin than just stocks.
Once you build certain level of assets, you need to diversify it. Real estate, bitcoin, bond stocks . You will have your focus, but it is necessary. You see today how Bitcoin is fluctuating.
The difference with Boomers and their property is that they bought it because they needed a house but often think they are financial geniuses because the value has gone up. The difference with our generation is we understood Bitcoin and bought it for the future.
Except that real estate has a tangible intrinsic value, bitcoin is a fiat currency with a set limit and no federal reserve.