Obviously every generation has its skeptics, but some are less understandable than others in my view.
Gen Xers (people in their early 40s to mid-50s) are old enough to have grown up before the internet. In fact, many of us grew up as kids before it was common for people to have a computer in the house. A real computer was something you might be able to get to at school or at the Boys and Girls Club, but the ones anyone had at home were basically toys. At least in my area.
We remember clearly when the internet came along and how it revolutionized everything. We were old enough (in our 20s mostly) to understand the implications of the revolution in real time because it was affecting our jobs and our lives on a day-to-day basis. But we were young enough that we could jump on the wave and catch it wherever it was going.
Personally, I entered college with an electric typewriter and postcards and left with a computer and an email address. I specifically remember the first time a teaching assistant said that he would email us the course requirements instead of us coming to his office to pick them up. Hopping on GeoCities to find out about people all over the world was game changing since many of us had had the experience of keeping in touch with distant friends mostly with handwritten letters. I remember explaining to my mom that no, CompuServe does not “own” the internet and it can’t “go out of business”. We have already lived through a digital revolution. We were awake and grown for the before and the after.
So I’m always dismayed when I talk to other Gen Xers who claim that crypto is just a big scam and are unwilling to figure out what it is or how they can benefit from it. I always want to say, “Dude! Don’t you remember when the internet was a new thing and older generations dismissed it and said it served no purpose?? This is the same story. And you already know how these stories end. The new, better technology wins.”
Boomer skeptics are firmly in charge of the legacy financial system. They have a vested interest in minimizing crypto. Millennial skeptics have less direct prior experience of a technology revolution because most of their lives have occurred after the last one already happened. Gen Z skeptics mostly don’t have a lot of skin in the game yet.
But Gen X has no excuse. We’re old enough that this turning should feel familiar, yet young enough not to be too entrenched in the old ways. We’re in the best position to take advantage of crypto because we, of all people, should understand the power of a revolution.