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Bitcoin Adding Woes to Weakening Housing Market as Millenials Invest More

  • Darryn Pollock
    📰 News

    The weakening property market is not being helped by the allure of Bitcoin for some of its newest potential buyers


Bitcoin Adding Woes to Weakening Housing Market as Millenials Invest More
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The housing market's latest client base is not as enamored with it as previous generations. The millennial movement which is now approaching an age where they want to invest their money is not looking at property, rather Bitcoin and shares.

Research conducted in the UK shows as many as one in three British Millenials would rather put their money into shares and Bitcoin than into the property market. A fifth of the young people surveys, between 21 and 35, said they would take Bitcoin as an investment over property, and another fifth thought a bank account was a better investment than housing.

Interesting numbers

The numbers, and the interest, for young people, when it comes to investing in the speculative digital currency is surprisingly high, especially when taking into consideration the volatility of the market.


However, having seen first hand the housing market crash and the devastation caused there, the property is no longer viewed as a safe asset by the younger generation as it was in the past.

According to the survey, more than half the millennials said that they considered investing in property near to where they live in the next five years as ‘high risk.’ Part of it has to do with the huge financial constraint a house has on an individual or family.

Half the people said that by buying a home they had been forced to live in a less convenient location while 45 percent said they had not pursued a great job opportunity because of the location of their prospective home.

Bitcoin convenience

There is little doubt that Bitcoin still has its issues as an investment tool, however, the property market is seemingly becoming far outdated and unsuitable to modern investors.

Bitcoin still offers convenience in both the ability to buy and the level of buying. Investments can be as big or small as the investor chooses, and they can be done from a smartphone from day to day.

Cover image via u.today
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It Would Take Several Seconds to Hack Every Cryptocurrency in the Nearest Future


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Blockchain is commonly known as an immutable ledger that is impossible to hack, but there is always a looming threat of quantum computers. HCASH Chief Scientist Dr Joseph Liu, who claims that every single cryptocurrency can be hacked in a matter of seconds, has come up with his own coin that won’t be threatened by quantum hackers.

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The inevitable quantum takeover     

Quantum computers are generally considered to be the Achilles’ heel of Blockchain-based cryptocurrencies, including Bitcoin. IBM has already announced its first quantum computer with Google and Intel also working in that direction in 2019.


IOTA, which is powered by DAG dubbed ‘Tangle’, is considered to be the only quantum-proof cryptocurrency on the market, but there could be yet another option – Hypercash that recently presented its post-quantum secure Ring CT protocol.    

‘If you want to use this computer to break the … normal security, it’ll take maybe 500 years to break the system. If you use a quantum computer, maybe several seconds. Hcash is trying to provide security, even in the existence of this future computer,’ – he claims during a recent interview.

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A precursor to Monero     

The aforementioned quantum-resistance cryptocurrency is based on Liu’s research paper about a ‘linkable ring signature.’  Fun fact: that paper, which was published back in 2014, was used by the creators of Monero as the basis for the flagship privacy coin.

The Ring Confidential Transaction (RingCT) allows having an external verifier without exposing who that verifier is. Liu didn’t expect the coin to produce any significant impact, but now he is eager to improve the protocol of the billion dollar currency without getting any financial gains.

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High hopes for Blockchain

Despite his gloomy prediction about the quantum takeover, Liu is still certain that the future of Blockchain is bright. He is certain that there will be an increasing number of Blockchain-related jobs that will be coupled with growing academic interest in cryptography. There is will be many use cases of Blockchain technology in different spheres of our life.

Cover image via www.123rf.com
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