The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Cryptoeconomics, Bitcoin and the Radical New Face of Millennials

by Daily Hodl Staff
June 7, 2018
in Bitcoin
“We should do away with the absolutely specious notion that everybody has to earn a living. It is a fact today that one in ten thousand of us can make a technological breakthrough capable of supporting all the rest. The youth of today are absolutely right in recognizing this nonsense of earning a living. We keep inventing jobs because of this false idea that everybody has to be employed at some kind of drudgery because, according to Malthusian Darwinian theory he must justify his right to exist. So we have inspectors of inspectors and people making instruments for inspectors to inspect inspectors. The true business of people should be to go back to school and think about whatever it was they were thinking about before somebody came along and told them they had to earn a living.” — R. Buckminster Fuller

A Pew Research Center study shows that 35% of the American labor force participants are Millennials. The statistic pushed “slacker and entitled” Millennials to the front of the class in 2016 when they surpassed Gen Xers to became the largest generation in the US labor force.

Millennials (ages 21 to 36 in 2017) outpaced Gen Xers and Baby Boomers with 56 million working or looking for work, compared to 53 million and 41 million respectively.

The study shows that the Baby Boom generation’s influence in the workforce is dwindling. As their numbers recede so will hardened opinions about money, jobs, family, freedom and lifestyle. Disruptive technologies will continue to show that many of the conventions that have been held up as untouchable – designed to persist for all eternity – are social constructs that can be diminished, rewritten and completely extinguished.

Millennials are driving the crypto craze, investing in Bitcoin, Ethereum, Litecoin and hundreds of other altcoins in the quest for innovation, new structures and new social contracts. “Over 82% of millennials say their investment decisions were influenced by the Great Recession when $14 trillion in wealth was lost. Many saw 50% or more wiped off their parents’ or older siblings’ wealth,” reports Kari Paul of MarketWatch. “Millennials regard the stock market with skepticism. People between the ages of 18 and 39 are less likely to invest money in the stock market than are other generations, studies show.”

While traditional investments and their creators are being tarred by the Great Recession, fiat money and its inflationary nature are being questioned. The challenge is not just technological but fundamental. The belief that money is an indisputable byproduct of biology – or an element of nature like Fire, Water or Air – is becoming more illusive and less certain.

Blockchain and other digital ledger technologies that underpin Bitcoin, Ethereum, IOTA, RChain and other cryptocurrencies are creating decentralized platforms to transfer ownership of physical assets, transmit value and currency across borders, and execute smart contracts between unknown parties. They’re promising a new economy built on tokenized and fractionalized assets. And since so many new enterprises are digital and don’t need to be in any specific location, they’re fueling a digital-nomad lifestyle that’s entirely new. Marriage and home ownership are on hold as well, no longer the sacred rites of passage that define a life worth living.

The shift from tradition to reinvention is freeing Millennials to float, experiment and question. They’re ditching cars, homes and street addresses for airports and Airbnbs around the globe. According to a survey by WeLance, the Millennial digital nomads are mostly male (64%) and work in a range of professions from programmers (22%) to online marketers and designers (17%). Nine percent visit 10 different countries in a 12-month period, with 32% visiting 5 to 10 countries and 29% visiting 3 to 5 countries. The average stay per country for 44% of respondents is 1 to 3 months; 32% stay 2 to 4 weeks; 25% stay 1 to 2 weeks. They live lean, reporting modest monthly income of $1K to $2K (27%), $2K to $3K (19%) and $5K+ (11%).

While 85% of the Millennials surveyed reported being very happy, the emotional merits of a traditional job that demands a grueling commute and a nine-to-five routine are up for rigorous debate. In the face of travel, laptops, automation, AI and employers who no longer want to retain full-time employees, Millennials are exploring their options.

“The growth of the freelance workforce is three times faster than the traditional workforce,” said Stephane Kasriel, CEO of Upwork, in an interview with Forbes. At the current growth rate, most American workers will be freelancing by 2027.

Crossing borders and going beyond physical addresses tied to national currencies and countries, Millennials will drive the demand for cryptocurrencies because they’re as mobile and as fluid as the lives they live. As for how or what defines a life filled with purpose, passion and career ambition – that’s the ultimate question. New rules apply.

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • Addressable Raises $7.5 Million To Enable Web 3.0 Companies To Acquire Users at Scale
    January 31, 2023
  • SIMBA Chain Awarded $30 Million US Air Force STRATFI
    January 31, 2023
  • Bunzz Raises $4.5 Million Seed Round To Expand Its Smart Contract Hub for DApp Development
    January 24, 2023
  • Dogecoin and Shiba Inu Better Watch Out – Floki Just Had Three Big Things Happen for It
    January 24, 2023
  • Crypto Marketing – What Initiatives Will Bring More Value and Users in 2023
    January 23, 2023
  • Make Crypto Payments on BChat Web 3.0 Messenger – BChat Integrates Beldex Wallet
    January 22, 2023
  • KEY3.id Supports Multi-Chain Transaction, Partnership With KuCoin Wallet, CoinHub Wallet and Wallet3 To Launch 2023 Lucky Transaction Campaign With Over 30,000 Participants on Social
    January 20, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$23,146.20
$23,146.20
1.55%
Ethereum
$1,585.16
$1,585.16
1.19%
Cardano
$0.390903
$0.390903
5.09%
XRP
$0.407688
$0.407688
3.16%
Dogecoin
$0.095655
$0.095655
8.64%

Spotlight

  • Can Avalanche (AVAX) Do a 50X? Crypto Bull Mark Yusko Says Ethereum and Layer Ones To Outrun Next Bitcoin Rally
    January 24, 2023
  • Institutional Investors Believe One Crypto Asset Has the Most Compelling Growth Outlook in 2023: CoinShares
    January 27, 2023
  • Analyst Nicholas Merten Issues Warning, Says Stocks and Crypto About To Trap Traders Before New Lows
    January 30, 2023
  • New Cardano (ADA) Stablecoin Launch Revealed – Here’s When Djed Comes Out
    January 25, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl