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Boomers hate to acknowledge it, but this is economic reality. They were born at the right time and rode a financial tailwind of growing real wages, higher stock prices, and higher home values.

If you just went to college, got a blue-collar job, acted fiscally responsible and invested in assets you ended up well.

That being said, the best path towards building wealth today is still hard work, honesty, and investing in the right asset (Bitcoin)

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Discussion

TheBitcoinManual 8mo ago

Its crazy to think that late gen x and millenials literally had to drive the highest levels of industrialisation and productivity ever in human history just to have a retain half the relative purchasing power boomers enjoyed

El Guiri 8mo ago

Reminds me of the wonderful conversation I had with a canadian boomer last week: "these younger generations are just too lazy, they get paid well and houses aren't that expensive, I don't know why they complain". As a younger gen X, I made the decision to try and set things a little straight for him to the great amusement of the millenial standing close by. His response was simply to go find another group of people to talk to. He really seems to perceive himself as some kind of financial guru from just riding property inflation wave. I would add though, that a lot of these things are also regionally dependent for different generations too. As a brit, I remember reading at 23 years old that anyone under 30 would not likely get a state pension, only to see my "National insurance" contributions (health system and pension) double to 10% a year later. That was fun. Literally telling us we are paying for older generations at 5% of our income additionally removed at source.

R 8mo ago

Making them sell their houses to get your bitcoin is the best option on the table.

El Guiri 8mo ago

Actually have a friend in bitcoin space. He’s a boomer. Tries to help people and is let’s say, a relatively vociferous hard money and freedom advocate. He said he was considering trying to switch to paying his rent using a bit of his stack to see how it would go. When we were discussing and I asked why, he said the following:

Imagine you were to take a whole coin right now and put it in a wallet. You pay for your rent monthly by selling a bit when required or try to get landlord to accept btc but based on monthly fiat rent. If the assholes keep printing, bitcoin keeps going up faster than all this fiat shit. So are we at the stage where I could rent for the rest of my life with just a single bitcoin yet?

It’s an interesting thought. One should consider from this thread that societies can act with group think and also be gullible. It’s quite glib to blame an entire generation but it would be nice to see some taking ownership of the damage caused. World of nuance. To any young bitcoiner who got in early though, the price of a house will continue to drop in btc terms, maybe do a spreadsheet with the question above with average rents etc and take a look before parting with stack for a house, this might be an opportunity to play a good game against a rigged system. Pura vida!