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Bitcoin: A Binary Lifestyle Choice

Posted 27 July 2017 Bitcoin: A Binary Lifestyle Choice
Written by Jon Gulson

As covered previously on Hodl The Moon, today’s younger generations are faced with financial challenges like never before. 

Millennials who came of age during the depression of the late 2000’s and early 2010’s and the subsequent generation (Generation Z – born 1995 or later) who witnessed the financial stresses of their parents during this time, have different dynamics influencing their lives to those preceding them.

Sluggish economic growth, historically low interest rates, asset price inflation and record levels of debt are continual problems that governments and central banks around the world have been unable to resolve - despite their best efforts at financial and fiscal engineering.

For many Millennials, the ideal of fixed asset ownership is something they feel beyond them.

This explains how retrospection has become a cultural phenomenon, as people romanticise old certainties. It also creates disconnection between aspirations and environments, emphasising lifestyles over real wealth.

How Will the Latest Generation Come of Age?

Generation Z is the first to have experienced a ubiquity of technology from the beginning of their lives. In Japan this generation is sometimes labelled ‘Neo-Digital Natives’, reflecting the evolving and expanding digital landscape.

In three years, Generation Z will account for approximately 30% of the US population. The technological advances and digital evolutions which have shaped Generation Z’s lives so far will continue as they innovate, brand and start their own enterprises.

As the latest generation comes of age and the legacy world’s middle class mind-set atrophies, so too will digital money (come of age). Digital currencies will grow as aspirations of owning fixed assets are replaced by mobile, blockchain based, decentralised and permissionless digital wealth. 

The seeds of the future have already been sown; and as old worlds give way to new ones, bitcoin will become the only real lifestyle choice any of us will ever make.
 

Written by Jon Gulson
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