Everyones hasn diferent beliefs about money and wealth. See for example 35 different ways of thinking about it here:
https://daringtolivefully.com/powerful-beliefs-about-moneyOne famous author, not my favourite, yet an influential one is
Robert Kyosaki. In his book poor dad, rich dad, he examines two different beliefs and states that those believes will shape your success.
What of these do you agree with? What other beliefs do you have about money?
1 - Millionaires are greedy, that is why they become millionaires.
1 - This is a
sophism. It states that millionaires are greedy as a fact, even though it's just an assertion. And based on that flawed premise it concludes that this is the reason they became millionaires. I think there are two questions that are better to be asked to find out the answer behind this belief. The first one is "Are millionaires greedy"? I don't think has an evident answer. Some millionaires are greedy, but not all of them. This is a
hasty generalization. And the second question to be asked is "Do greediness is what makes you rich"? I think the answer is a definitely no. There are other attributes that allow you to become rich, but greediness is not one of them.
2 - Company managers just want to use the workers to make themselves rich and others poor.
2 - This belief stems from the Marxist view of the world that sees waged labor as a form of slavery and economy as a zero-sum game. But we all know this view is incorrect, because in a company nobody is forcing you to work. If that's the case, you should call the police because it's against the law (at least in the Western world). You choose to work for a company in order to receive money that allows you to buy stuff from other people.
And economy is not a zero-sum game. If we make an exchange and I give you money and you give me an apple, we are both in a better position that before the exchange, because I want the apple more that I want the money and you want the money more than you want the apple. If that would not have been the case, we wouldn't have made the exchange in the first place.
On a free market, you cannot "make" somebody else poor. This is the natural state in which we are born. You can only make somebody else rich, buy providing goods and services. And the more satisfied your clients are, the more profit you will make. So your wealth depends on the level of satisfaction of your clients.
3 - Having money is a question of luck, if not of "gods grace".
3 - How do you receive money? In a free-market economy, by convincing others to hand it to you. How can you convince others to hand you money? Well, in exchange for something they wish more than the money they are giving you. So you can acquire money by satisfying the needs of your fellow men.
4 - Debt is always bad.
4 - Debt is bad only if it's taken for consumption. If it's taken for investments and production, then it is good, because it's the fundamental way in which the economy grows. You wouldn't be able to produce new stuff if somebody else wouldn't save and hand you over their savings in order to use them to build something. And nobody will hand you something for free, so you will have to pay an interest. And this is debt.
5 - To make money, you just need to have a great idea nobody thought off.
5 - There are tons of people with really good and unique ideas that are poor. The implementation is the one that matters. Getting the idea turned into something that people will give money for, this is the secret of success. And it's a hell of a task to accomplish, because there are a ton of moving parts, from handling employees, making sure you have clients, navigating the bureaucracy of the government and keeping up with the development done in your field. Those who succeed are the one who can take an idea and stick with it until it succeeds.
6 - Cryptos are the way to make money and be successful without having to put effort into it.
6 - Crypto can be a way to make money, but you still have to put a lot of effort into it. You have to read a lot, on how to securely store your crypto, how to access it, how to transact it, what coin has the best grow potential etc. Just because it't not office hours you are pouring in doesn't mean you are not putting a lot of effort
7 - To become rich I just have to believe in Bitcoin because many people have become rich doing that.
7 - Bitcoin it's not some god send stuff that will make everybody rich. Yes, some people became rich due to bitcoin, but that doesn't mean that it can't get to zero if some fatal flaw is discovered or if somebody can break the encryption behind bitcoin. It has no other use case than as money, so it's value can rich zero. Gold and other physical currencies will always have value at least as an industrial raw material.
8 - To become rich I just have to be more clever and streetwise than everyone around to get my share of the cake.
8 - This assumes that the cake has a fixed dimension. But as I said at point 2, economy it's not a zero-sum game. If that would have been the case, then we will still be in caves fighting over the same woods to make fire.
Your turn to think ...
(EDIT: These are NOT my beliefs, at least not necessarily, is just a list to think. Is not the list by Robert K. either.)
My beliefs are as follows:
1) Cryptocurrencies can become the next general medium of exchange that would allow people to transact across borders without a problem.
2) Governments will try to ban it because they will lose control over inflation and inflation is one of their biggest source of revenue and power based on redistribution
3) I don't know if bitcoin will be the most successful cryptocurrency that will exist, but based on all the informations I have I think it's in the best position at the moment for the medium term (5-10 years).
Sorry for the long post.
