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Does Bitcoin Resonate with College Millenials?

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shopnhowler

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There are so many statistics that Millenials--those born roughly between 1980s to 2000s--are:

• educated;
• under (or about to enter) massive college debt; and
• underemployed

I realize there are those that don't follow this description, but for those that do I empathize with and am wondering if there's a Bitcoin/altcoin platform that can be created to help. I've listened to some ideas of podasts with Chris from Chris before Coffee, and his ideas of investing/crowdfunding in people have got me thinking. Anybody else interested/feel this way?

Posted on July 12, 2014 at 10:21 AM

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• Daurgothoth

  

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  I know of one project to donate bitcoin to a random new baby to hopefully pay for the college tuition in the future.

  Your idea to help my generation is nice, but the best thing for any of them would be to just get involved with bitcoin now. MIT is sure doing a great job at introducing the students to bitcoin.

  Personally I think the best thing to do about education is fix it for the next generation. We need an accredited, decentralized, inexpensive secondary education option. We live in the age of free information, so why is college getting so expensive? I'm thinking some sort of tutor uber app combined with an online education platform could do the trick.

  Posted on July 12, 2014 at 10:59 AM
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• Cryptonaut

  

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  I'm not the college type, but im in that generation. Bitcoin definitely does resonate very strong with me. All i'v seen, heard, read and experienced my entire life is utter incompetency, waste and stupidity in all of our institutions. Government, banks and finance, law/justice, education, health (big pharma etc.), corporate culture, etc.. its all just broken and out of control. It's getting more ridiculous every day.

  P2P and decentralized technologies seem to be the only working solutions for getting around the system and building something new and (hopefully) better without being crushed by the existing powers. We saw it with the internet and what it did for communications and information sharing - changed everything. Saw it again with bittorrent and sharing of software & media, and now we are seeing it again with bitcoin and what its doing for finance and digital trust. the best part about bitcoin is that it's aiming right for the heart of the biggest problem, which is the domination and abuse of the global financial system through the banking cartels and ultra rich.

  Posted on July 12, 2014 at 11:16 AM
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• shopnhowler

  

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  @Daurgothoth: I think college is expensive because government subsidizes it, leading students to enter large debt contracts. Combine this with the millenials who are (more) educated than previous generations because they are the first generation to enter college means they are more likely to not know what they're getting into, this lends to what Cryptonaut references of this large, debt-based system.

  @Cryptonaut: It seems like Bitcoin resonates because so many of us have the same values. Your references to communications industry reminds me of Jeremy Rifkin's "Zero Marginal Cost" society. I fully agree that healthcare, education, and finance are ripe for disruption. I just want to figure out how we can be part of that change :] So far companies like Coinbase and Bitpay have been areas for career opportunities but I want to cater to Millenials without strong computer science backgrounds and are tired of the current debt-based system.

  Posted on July 12, 2014 at 11:44 AM
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• MikeJohnson

  

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  @shopnhowler There are so many statistics that Millenials--those born roughly between 1980s to 2000s--are:

  • educated;
  • under (or about to enter) massive college debt; and
  • underemployed

  I realize there are those that don't follow this description, but for those that do I empathize with and am wondering if there's a Bitcoin/altcoin platform that can be created to help. I've listened to some ideas of podasts with Chris from Chris before Coffee, and his ideas of investing/crowdfunding in people have got me thinking. Anybody else interested/feel this way?

  I saw something about this on reddit the other day and meant to comment but ran out of time.

  Bitcoin and cryptocurrencies are certainly very interesting for millennials. They are typically educated, and many are looking to create, build or join startups so they are an ideal target market.

  They've got a lot of potential to do cool things and most are looking to have an impact on something and cryptocurrency could be that thing.

  I'd love to see some stats regarding demographics as far as age goes for Bitcoin and might have to run a poll in the future on Coin Fire regarding that.

  Peter Thiel is paying people to not go to college including the Etherium founder so that is a pretty cool move. It would be neat to see this be done potentially on a smaller scale with cryptocurrency as well.

  Posted on July 12, 2014 at 11:50 AM
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• shopnhowler

  

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  @CoinFire Peter Thiel is paying people to not go to college including the Etherium founder so that is a pretty cool move. It would be neat to see this be done potentially on a smaller scale with cryptocurrency as well.

  Exactly! Crowdfunding platforms are taking out the need for traditional VCs to get projects running. I think crowdfunded specifically for young people with potential may be powerful. IMHO, Peter Thiel's funding is more of an ideological statement and could be more practical. 20 people is not that widespread. $100k is a little to train individuals/teams to get a proof of concept going, and maybe not enough to support a team to get that return on investment (not that Peter needs it).

  Posted on July 12, 2014 at 5:23 PM
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• MikeJohnson

  

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  @daurgothoth I know of one project to donate bitcoin to a random new baby to hopefully pay for the college tuition in the future.

  Your idea to help my generation is nice, but the best thing for any of them would be to just get involved with bitcoin now. MIT is sure doing a great job at introducing the students to bitcoin.

  Personally I think the best thing to do about education is fix it for the next generation. We need an accredited, decentralized, inexpensive secondary education option. We live in the age of free information, so why is college getting so expensive? I'm thinking some sort of tutor uber app combined with an online education platform could do the trick.

  It is awesome to see MIT and the students taking such a hands on roll with Bitcoin. I hope to see more places doing this as well and getting these in the hands of millennials. BTW I am also a millennial.

  Posted on July 12, 2014 at 7:13 PM
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• angrycanuck

  

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  I think it does for a few reasons:

  We were born when the internet and PCs really started to take off We saw the potential of what we could do with PCs and the freedom we have As time has gone on, the freedom of the internet has slowly declined You aren't free to do anything on the internet anymore and now its more open to government and large corporate abuse. We see Bitcoin as what the internet was, an open, anonymous and free place that has HUGE potential We just hope it doesn't turn into what the internet has - owned by the highest bidder

  just my 2 cents

  Posted on July 16, 2014 at 4:38 AM
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• jguske

  

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  Location: Panama City Florida

  My personal experience talking about Bitcoin with a nephew of millennial age is that he immediately dismissed it. And he grew up and lives in Silicon Valley.

  Posted on July 17, 2014 at 1:02 PM
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• Scipio

  

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  With friends in most generation groups, I would say while I don't see millenials resonating any more or less with Bitcoin than any other age group, I do see the millenial group being more adapt at picking up and using Bitcoin once they do awaken to it. Just my 2 cents.

  Posted on July 17, 2014 at 7:22 PM
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