Bitcoin millionaire lists reasons most will never be rich - page 3.

Silberman

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Quote from: dothebeats on March 12, 2021, 01:20:02 PM

People that are new to the game would certainly learn a thing or two from this man. Identifying opportunities is definitely one of the hardest thing a newcomer to crypto would encounter. Without prior knowledge on stocks and other assets, it would be pretty hard to discern whether or not the price is good. Once the newbies got burned once, they'd surely never try again, instead of using these as a learning experience through which they can benefit from in the future.

Or I can say that he's just at the right place at the right time, but I digress. It seems that Tate knows how the market goes, so pulling off that purchase is a no-brainer for him.

Identifying opportunities is always hard but the main problem of people is that they have no money to take advantage of those opportunities in the first place, at least where I live almost no one has savings, it is simply not part of the culture, people spend all of the money that they get and this means that when an opportunity shows itself they have no way to take advantage of it, this is why I have always thought that those that do not have the habit of saving have no chance of ever becoming successful no matter how much knowledge they have.

Oilacris

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Quote from: Hydrogen on March 05, 2021, 06:15:03 PM

#1 Difficulty identifying opportunity There are many opportunities in crisis.

#2 Outdated or inaccurate ideas of how to make money He recommends renting rather than buying a house and questioning traditional ideas on how to make money.

#3 No plan This item does not need much clarification.

All of the three things that had been mentioned then number #1 does really have the impact or should really be taken off seriously by most people on where opportunities is really present
mostly in times or crisis.It is just our emotions is really a hindrance for us to do specially if the emotion around is enveloped out by fear and anxiety.

Humans are way too emotional and if they do follow out on what they do feel most of the time then most likely you would really be missing out these kind of chances.

To those who had actually took up some risk on buying out in the market without minding much of the risk did really pays off when bitcoins market had really able to reach out heights.
Imagine on how much they had allocated for bitcoin investment and thats a risky move to say on that time but it did really paid off.

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Quote from: Hydrogen on March 05, 2021, 06:15:03 PM

https://twitter.com/OfWudan/status/1238091998978093056

March 2020 an investor, athlete and youtuber known as Andrew Tate bought $300k worth of bitcoin priced at $5900. And another $300k worth of bitcoin priced at $6100.

He claims his BTC holdings today are worth around $7 million.

Definitely one of the more colorful and outspoken personalities in crypto willing to voice some of the more audacious opinions, its possible he deserves more attention than he receives.

His list of reasons most may never be rich:

https://www.youtube.com/watch?v=KxiYgtxPoG0

#1 Difficulty identifying opportunity There are many opportunities in crisis.

#2 Outdated or inaccurate ideas of how to make money He recommends renting rather than buying a house and questioning traditional ideas on how to make money.

#3 No plan This item does not need much clarification.

Anyways definitely one of the more interesting characters out there.

And maybe someone people might learn a few things from? This guy does the stereotypical thing many internet personalities do driving expensive sportscars with a harem of attractive women who live with him in his mansion. That would seem to be the dream of many in 2021. His message of self reliance, action and self empowerment isn't that common today. So I hope there might be something of value here.

Does he actually provide any proof he made these moves other than just some tweet yelling into the internet? Honestly just looking at his twitter profile and the website he links to, he looks like a scam artist. The profile is all bluster and posturing, nothing of substance, and the same with the website where's he's offering to "teach" you how to be as successful as him. My man, people who are actually as successful as he claims to be don't need to hustle their "expertise" for a fee. He's trying way too hard to convince people he's rich and successful to actually be rich and successful. Lol, his website says "Get money. Get women. Get fit." Whole thing looks like a scam.

SquallLeonhart

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Quote from: Renampun on March 12, 2021, 10:10:01 AM

Quote from: larus on March 12, 2021, 01:17:40 AM

People only ready to buy assets on highs, that the problem of newbies, thats why they can loose money even on bull market

buying in a bullish time is a bad thing...
assets that have high volatility such as cryptocurrencies must have the timeliness to buy it. buy when the market is bullish because FOMO is bad luck. This is the reason why newbies will always lose.

That has been said a million times but unfortunately it has always been wrong in an ever increasing product. People think that "buying bitcoin when it is high is a wrong move" and said that a lot, but what is "high" in bitcoin?

When it reached over 15k people said it was high, when it went over 20k people sold a ton, you should have seen the correction, because people said it was high and can't go any higher, when it reached 41k and dropped to 28k just two months ago, people went crazy and said it was over and the whole bull run will turn to bear run, and when we had the most recent high and went from 56k to 43k people got out like crazy, that was always the case for them because some people think it will not go any higher but it always does. Buy bitcoin whenever you can, at any time, at any price, it will go up, maybe it will go down for a while, maybe it will be low, who knows? But it will eventually go up, it always goes up in the end.

tygeade

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Quote from: Renampun on March 12, 2021, 10:10:01 AM

Quote from: larus on March 12, 2021, 01:17:40 AM

People only ready to buy assets on highs, that the problem of newbies, thats why they can loose money even on bull market

buying in a bullish time is a bad thing...
assets that have high volatility such as cryptocurrencies must have the timeliness to buy it. buy when the market is bullish because FOMO is bad luck. This is the reason why newbies will always lose.

No, buying during a bullish market is more worth it, if you buy at the right time. Like bull run started for bitcoins and someone who bought at $20k cannot be classified as a mistake. The problem is when we invest or buy coins during the end phase of a bull run but that's the dilemma, we never know what is the start and end of a bull run.

Buying during a bear run sounds good but has its own problems because during a bear run any coin can go down and some might even vanish from the market if things don't improve. Not every coin has the capability of bitcoins to jump back where it was earlier, no matter how bottom it has gone. You see how much pumping dogecoin took to get lifted and bitcoin has no such promoter like Musk but still continues to grow.

The ability to invest at the cheapest and sell at the highest point is what makes one rich and vice versa can make you poor.

angels2apples

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Lol so does he rent his mansion? or he just owns property and tells people to rent lol.

dothebeats

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People that are new to the game would certainly learn a thing or two from this man. Identifying opportunities is definitely one of the hardest thing a newcomer to crypto would encounter. Without prior knowledge on stocks and other assets, it would be pretty hard to discern whether or not the price is good. Once the newbies got burned once, they'd surely never try again, instead of using these as a learning experience through which they can benefit from in the future.

Or I can say that he's just at the right place at the right time, but I digress. It seems that Tate knows how the market goes, so pulling off that purchase is a no-brainer for him.

Renampun

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Quote from: larus on March 12, 2021, 01:17:40 AM

People only ready to buy assets on highs, that the problem of newbies, thats why they can loose money even on bull market

buying in a bullish time is a bad thing...
assets that have high volatility such as cryptocurrencies must have the timeliness to buy it. buy when the market is bullish because FOMO is bad luck. This is the reason why newbies will always lose.

oHnK

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Quote from: justdimin on March 12, 2021, 08:04:24 AM

Quote from: Hydrogen on March 05, 2021, 06:15:03 PM

https://twitter.com/OfWudan/status/1238091998978093056

March 2020 an investor, athlete and youtuber known as Andrew Tate bought $300k worth of bitcoin priced at $5900. And another $300k worth of bitcoin priced at $6100.

He claims his BTC holdings today are worth around $7 million.

Definitely one of the more colorful and outspoken personalities in crypto willing to voice some of the more audacious opinions, its possible he deserves more attention than he receives.

Being rich means that you do not have to work ever again to live a comfortable life, in some places and for some people that could be 100 million dollars, for some people it could be 1 million dollars, but in no way or shape it could be 200 billion dollars, that is really unreasonable, what are you going to do with that much money? Impossible to say that it is just being rich, that is being ruthless.

Amazon workers who apply for food stamps and pee in a bottle while Jeff Bezos owns 200 billion dollars worth of amazon stock shows you that it is not about being rich, it is about being powerful and dangerous to society as well, he is not helping anyone out, he is basically just an evil character from a comic book type of person but in real life. Hopefully humanity will eventually realize being rich and being evil have 1+ billion dollar difference, anyone can be and should be rich if they can, but nobody should be evil with money they make.

In general, the ultimate goal of having a lot of money and becoming the richest person is to become a philanthropist. Like Bill Gates who has established his foundation and helped many children around the world. Likewise, several lists of rich people in this world. Not all rich people are evil because if he has value in life then he will be that generous person.

justdimin

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Quote from: Hydrogen on March 05, 2021, 06:15:03 PM

https://twitter.com/OfWudan/status/1238091998978093056

March 2020 an investor, athlete and youtuber known as Andrew Tate bought $300k worth of bitcoin priced at $5900. And another $300k worth of bitcoin priced at $6100.

He claims his BTC holdings today are worth around $7 million.

Definitely one of the more colorful and outspoken personalities in crypto willing to voice some of the more audacious opinions, its possible he deserves more attention than he receives.

Being rich means that you do not have to work ever again to live a comfortable life, in some places and for some people that could be 100 million dollars, for some people it could be 1 million dollars, but in no way or shape it could be 200 billion dollars, that is really unreasonable, what are you going to do with that much money? Impossible to say that it is just being rich, that is being ruthless.

Amazon workers who apply for food stamps and pee in a bottle while Jeff Bezos owns 200 billion dollars worth of amazon stock shows you that it is not about being rich, it is about being powerful and dangerous to society as well, he is not helping anyone out, he is basically just an evil character from a comic book type of person but in real life. Hopefully humanity will eventually realize being rich and being evil have 1+ billion dollar difference, anyone can be and should be rich if they can, but nobody should be evil with money they make.

ethereumhunter

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Quote from: larus on March 12, 2021, 01:17:40 AM

People only ready to buy assets on highs, that the problem of newbies, thats why they can loose money even on bull market

If they can know the situation, they will not buy at a high price but they will wait for the downtrend. Even if they buy with little money, if they can buy low and sell high, they will not lose their money and make a profit. If people want to be rich, they should know how to use the moment and work hard to earn more money, and maybe they need to spend more time working hard and do other things to make money. Being rich is for all people, but it only depends on how big his effort to work.

goldade

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Concerning the listed reasons as to what makes people poor, I think he is absolutely correct. That doesn't speak only for crypto investment but for every investment whatsoever. Those listed mistakes happen in every sector to almost everyone and it's only those who have disciplined themselves over time that get to make the most of opportunities.
I, however, have some reservations about this guy. This is not to blame him cause he's actually not at fault. He's just like everyone else looking for ways to make money. I believe he's someone who thinks of bitcoin just as an asset to be invested in and not a currency that it truly is

larus

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People only ready to buy assets on highs, that the problem of newbies, thats why they can loose money even on bull market

Genemind

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There are a lot of reasons why people don't get rich, lack of opportunity, knowledge, will to pursue their goal. There are people out there who started from rags to riches because they are street smart, they are aware of what other opportunities are out there. Once the opportunity is open by just knowing it is not enough, you must know how to make the most out of it and take advantage of that opportunity. I agree that being too complacent, lazy, and greedy sometimes lets you lose such opportunities when present. The cryptocurrency had opened a lot of opportunities for people to earn and be part of the biggest innovation of all time, however not all is aware of it or even had an opportunity to be part of it.

Silberman

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Quote from: davis196 on March 09, 2021, 01:40:57 AM

We all know the reasons most people will never be rich.
1.Lack of focus and persistence.
2.Laziness.
There you go.There's no need of a big list. Grin

I don't trust this guy's claims about buying 300K BTC at 5.9K.Can he show a proof?
He looks like the typical Instagram "baller",who is just bragging about how successful he is and what awesome life he lives.
I don't believe that buying Bitcoin at low price and selling at a higher price can make someone rich in the long term.Yeah,you could make big money,but greed will eventually influence you to make mistakes and lose money.

Another reason is out of control greed, look at this market, bitcoin is the best coin in the market and you can obtain a lot of profits with it by just holding it but people want to make even more money and they invest in all kind of risky coins because they are not willing to wait, they want profits and they want them as soon as possible, then they lose their money to scammers and come back to the forum claiming the whole market is a scam when they are the ones that invested in a shady coin to begin with.

coolcoinz

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I agree with him. Being in the space allowed me to learn a few things over the years. One of the most important lessons for a new investor is to think outside the box and not be scared. I remember all the scary moments when I almost gave up on Bitcoin but never sold. I felt like it was a mistake to hold for so long while others traded, felt left behind as a holder, but my job and hobbies allowed me to survive and a year later Bitcoin was up again.

You have to understand that investments are like learning a new skill. You will fall, you will get some sleepless nights, but after some time you'll be satisfied and say it was all worth it.

plr

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Quote from: Hydrogen on March 05, 2021, 06:15:03 PM

#1 Difficulty identifying opportunity There are many opportunities in crisis.

Finding opportunity and exploring it is not the skill of everyone, only a person with a lot of motivation to succeed will look find and explore the opportunity, while the other does not want to take a risk, afraid of losing and they have a fear of the unknown, that is why only few will make it and become millionaires and billionaires.

GeorgeJohn

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The possibility to claim that he holds such values of Bitcoin till date is there because from his research he has found out Bitcoin can equally appreciate as similar as landed property appreciate, let we not dispute the fact that he can't keep it up to these time selling, some people have businesse minded heart to keep or hold am investment for a long period, his concept towards can turn him to billionaire due to the believe and trust he has via cryptocurrency, because its not everyone can hold and wait when it will excessive values before selling.

pinggoki

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If this is really true that he bought a large of bitcoin at that price and if he sells it right now then probably he is a millionaire or maybe not just a millionaire it evens billionaire as well, this guy is insane and really a big balls on investing in bitcoin and ethereum so much. If we will compute the earnings that he may get by buying $600k worth of bitcoins then probably selling it when the price gets $55k then probably he is already a billionaire. This guy was really has something because if he foresees that it may happen then he just holds the bitcoin that he buys then it is very awesome.

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Quote from: SquallLeonhart on March 09, 2021, 04:06:11 AM

Quote from: zanezane on March 08, 2021, 03:05:47 AM

~

There is also the ethical question as well, most rich people came from rich parents, Bill Gates' family was rich, Elon's family was rich, Jeff's parents were rich, Warren's parents were rich and politician as well, basically almost all of them are/were rich, sure there are many rich people whose kids never became world's richest person, so I do not want to just attribute it to their parents, but that is where ethics came into play.

Any, and I mean ANY poor person can become rich if they just have a horrible ethical standards and flexible morals, all you do is illegal work and you become rich, sell drugs and become rich, steal and become rich, not like you would be denting the world.

This is not a way I support how you should become rich, but do you think "real" rich people do not steal? Or do not sell drugs? Look at Big Pharma they decide what is legal and what is illegal, they give people things that make you high as legal drugs but if you smoke pot that's illegal. Life is all about who you can bribe, not what you do. All rich people, ALL rich people have bad morals and bad ethics, without a single exception.

Your first paragraph is on point, yes there are people that are handed the cheat codes to life and taking their advice is the most stupid thing because you were never as lucky as them. But the next paragraphs seems to be straying from the point, yes ethics are involved in getting rich but there are people that are rich but they didn't breach any ethical violation. Poor people have poor ethical standard because they are desperate and the society tells them that their principles will not feed them. Not everyone who does illegal work gets rich and I don't like the idea of advocating it as a means to get ahead of the other people doing crime means that you have already dug a grave for yourself.

Topic: Bitcoin millionaire lists reasons most will never be rich - page 3. (Read 1047 times)