Population Dynamics Role in Cryptocurrency Adoption - Daily Musings

Population Dynamics Role in Cryptocurrency Adoption

It's no secret that Milennials, the generation born between 1980 and 2001 are fans of cryptocurrency.  I was born in 1985 and became captivated with the market in early 2017.  The next generation will adopt cryptocurrency in ways that will spurn a...

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It's no secret that Milennials, the generation born between 1980 and 2001 are fans of cryptocurrency.  I was born in 1985 and became captivated with the market in early 2017.  The next generation will adopt cryptocurrency in ways that will spurn a new bull market and adoption.

According to the U.N. youth report, there are currently 1.8 billion young people between the ages of 10-24.  This demographic is the largest ever, with concentrations in South America and Africa.  It is a boon for cryptocurrency, as this groups is the most likely to take the leap and invest or use coins as money.

Many financial sources confirm that young people are using and investing in cryptocurrency.  Certain cryptocurrencies including Ripple's XRP, NEO Coin and Cardano have fan followings who ardently buy and hold them.

Tokenized video games and paid social media sites will create demand for cryptocurrencies as well.  Games that run off of blockchains  including Steem Monsters, Cryptokitties and Hyper Dragons pay their players in cryptocurrency, and are addicting.  With a total American gaming market of more than $20 billion, these tokenized games are sure to see use, strengthening their underlying tokens.  Paid social media sites like Scorum, Steemit and Whaleshares make a great paid alternative to Facebook and Reddit.

The large concentration of youth in the world today coupled with the developing gaming and social media blockchain projects create a bullish thesis for cryptocurrencies.  Some young people view the market as fast and easy money, while others see it as an investment in the future.  Both may be right, and the future looks bright for this new technology.

Sources:  https://www.un.org/youthenvoy/2015/04/10-things-didnt-know-worlds-population/

https://money.cnn.com/2018/05/14/pf/crypto-kids/index.html


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