
Nearly a Third of Millennials Say They'd Rather Own Bitcoin Than Stocks - rayuela
https://www.bloomberg.com/news/articles/2017-11-08/millennials-ready-to-ditch-stocks-to-keep-bitcoin-rally-alive
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jaclaz
Being an optimist, I read the news as 2/3 of millennials would still prefer
stocks to bitcoins.

However, had the question been "You have saved US$ 1,000, what would you do
with it?", the number of millennials stating they would buy the latest
smartphone would probably be preoccupying.

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megaman22
It's probably not completely idiotic to favor bitcoin over government bonds -
one of these two has at least the chance of increasing in value significantly
more than inflation.

But give me Vanguard Admiral shares.

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hkmurakami
One of these also has the chance to lose significant value. US Govt bonds
limits your real downside to about 1% give or take.

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RickS
I think it's pessimistic but reasonable to expect that most people fail to
understand the fundamentals behind both stocks and bitcoin.

Given that, I think the best way to read this is as a measure of faith. What
is the expected source of future economic growth? Emerging tech, or existing
economic structures? Given the state of young people in the US, it's not
surprising to see confidence waning in incumbent financial systems.

~~~
ellius
That’s obviously exactly correct. The technical merits of various investments
is exactly the sort of thing where I’m not looking for popular opinion.

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aecs99
> The study of more than 2,000 people found that 42 percent of millennials are
> at least somewhat familiar with bitcoin, compared with 15 percent among
> those ages 65 and up.

Something that is not clear from the article is: what exactly does "somewhat
familiar" mean?

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lightbyte
The article cites no sources for anything, so it's safe to assume it's
entirely made up.

Though I actually was able to find the source outside of this badly written
article:
[http://www.survey.blockchain.capital/](http://www.survey.blockchain.capital/)

The question (and answers) were:

How familiar are you with Bitcoin?

a) I own/have owned Bitcoin

b) Very Familiar

c) Somewhat Familiar

d) Head of it but not familiar

e) Never heard of it

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johnpython
What percentage of millennials even understand Bitcoin? How many of us on HN
are frequently asked about investing in cryptocurrencies by people who have no
business approaching the topic.

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analogmemory
As a fellow lizard person, I concur. I do have a 401k but i've been putting
more into crypto coins these days.

