Bitcoin millionaire lists reasons most will never be rich - page 4.

adzino

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Quote from: Hydrogen on March 05, 2021, 07:15:03 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#2 Outdated or inaccurate ideas of how to make money He recommends renting rather than buying a house and questioning traditional ideas on how to make money.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.

1. Yeah, people fail to identify opportunity because those opportunities are "not so obvious" like the guy makes it sound like. If opportunities were obvious, everyone would try to take that opportunity, hence it becomes saturated.

2. Not sure why he would say that. Sure you are better off renting short term, but if you thinking about long term, wouldn't that be better to buy houses? You can buy and then rent it. Rents always goes up. They never go down.

3. This is accurate. Most people fail because they have no well defined goals!

so98nn

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Quote from: Gyfts on March 05, 2021, 08:08:49 PM

https://twitter.com/OfWudan/status/1116767056592904193

Yeah no, I'm not going to take investing advice from an arrogant asshole that views BTC as a get rich quick scheme. I don't think he sees merits of BTC as a currency, probably just a commodity that he can trade and get rich off of. I can't blame him, but I'm also not going to listen to him either.

I mean yes! Those who will come with an attitude that bitcoin will make you quick rich then, they are the one who will be roadside investors soon. Crypto is not a joke. It's a serious thing with investment plans and challenge of market manipulators. If you don't play the game with your skills then you will be just hogging a dead horse and nothing much.

I have seen bitcoin from 1-2k USD but never dared to hold it all the time because the money I invested was my savings, or emergency money. I always sold it whenever I was in little profits.

Thats a slow thing, but that's the most ideal and safe way to invest. It takes nothing to invest in that fashion and grow your assets over the time.

0t3p0t

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Quote from: pugman on March 05, 2021, 07:58:43 PM

Went through his twitter, kinda insane. Shocked

To put it perspective:

He bought 381 eth at 131$ a piece. If he sells it at 1.4k usd now, its equal to 530,000 USD.

The bitcoins purchased: ~100. Sell it now, as per preev its worth 4.5 Million.

His twitter is rather interesting however, am no fan of it, but got to say mans got steel balls to invest like this.

That is the spirit of investing and lucky for him he was able to hodl those assets until now. Early birds really catches worms but since he has capital then that is also one of it's perks as he can invest everytime that there is an opportunity.

iamsheikhadil

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Along with poor money management, most people don't know where to actually invest their money in, let's say some buy luxury cars which are one of the worst investments, or some just leave their money to bank so they can get a fixed good interest every month which not only makes them not rich but poorer actually dye to inflation and rise in prices, and a need to differentiate between "want" and "need" is necessary before spending any money. The more we spend on our useless wants, the more is the risk of getting bankrupt as greed never ends!

newwest

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Quote from: Twentyonepaylots on March 06, 2021, 06:18:03 PM

I would agree that all of his points, taken into their respective context, makes complete sense. However, has he considered thinking about those who are below the poverty line, those that are poorest of the poor? I believe that even if these people put these big a burden on themselves, they aren't supposed to be left out in these kinds of discussion. Maybe next time consider those people.

I always think of such poor people. To my mind they don’t think of BTC at all, they have no time for this. They think of how to get some money for food, clothes and bills. While wealthy people who have surplus of money can easily invest thousands of dollars in BTC and easily make huge money on holding.

That’s the sad reality that poor people are generally form the hand to mouth situation so they cannot even think about any sort of investment and mostly those are uneducated so they will be far away from the bitcoin or even heard about it. While being wealthy has its own advantage too that even if you los few thousands dollar it does not matter as not really going to matter in their lifestyle or living.

magneto

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Hindsight is always 20/20.

The reality is that spotting investment opportunities are incredibly tough. Yes, bitcoin is a great long term investment but in the short run its pricing simply can't be measured against an intrinsically derived value.

This seems to me somewhat like those videos that say "If you invested $1 bitcoin back in 2009.... You'd be a millionaire by now". Retrospectively everything seems clear. Ask someone to accurately predict what's going to happen in the future and they're going to fail miserably.

traderethereum

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Quote from: Twentyonepaylots on March 06, 2021, 06:18:03 PM

I would agree that all of his points, taken into their respective context, makes complete sense. However, has he considered thinking about those who are below the poverty line, those that are poorest of the poor? I believe that even if these people put these big a burden on themselves, they aren't supposed to be left out in these kinds of discussion. Maybe next time consider those people.

I always think of such poor people. To my mind they don’t think of BTC at all, they have no time for this. They think of how to get some money for food, clothes and bills. While wealthy people who have surplus of money can easily invest thousands of dollars in BTC and easily make huge money on holding.

They only think about how they can eat this day and not think about how to get rich.
Maybe that is far beyond their mind and they realize that it is very difficult to reach it without any miracle.
A rich person has their money to invest in bitcoin anytime at any price.
That is the difference between the poor and the rich person.
But I believe that there will be one or more people who will get lucky and become rich from all of those people.

SquallLeonhart

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Quote from: zanezane on March 08, 2021, 04:05:47 AM

You are right about being rich or not is a choice but do you think that if you say that to some dirt poor person who lives off of food stamps and the pity of his/her neighbors, what do you think will be his/her reaction? You can't make choices if you know that choosing will only lead to more suffering. Not everyone can get a job dude, if what you are saying was true all along, there will be no poor people that are living on meager lifestyle.

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.

amishmanish

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I used to follow his Twitter until it became too much with the boasts and the portrayal of Alpha male bordering on toxic masculinity. Twitter has these niches with similar people following each other and talking about earning money, getting women, eating steak, being the alpha. While none of those pursuits are wrong, the way these people talk about it, I am not sure anybody would want to see their sons behaving that way.

These people make it sound like Wealth + Strength and Decency cannot go along. As if you HAVE to be a cocky asshole to be wealthy and powerful. In reality, a self-confident man secure in his achievements and knowledge doesn't need to boast or throw a tantrum on twitter every once in a while.

It is like a whole lot of young kids follow these people while actually missing the real father figures that western society used to revere in an earlier age. Someone like an Atticus Finch who inspires his kids with his courage and fortitude, yet never falls to the level of his detractors despite everything.

danherbias07

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Dude is full of himself.
Tried to browse his Twitter account and all I found was "I" word.

I will teach you this and I will teach you that.
There are some "You's" but all of it was to blame someone.
You are like this because you did bad at this. (coward, laziness)
He is just using Bitcoin because of its popularity for his own promotions.

davis196

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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.

Kittygalore

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Quote from: Silberman on March 08, 2021, 09:50:03 PM

Some good answers on the thread but for the most part people are never going to be rich for the simple reason they confuse needs with wants, they spend so much money that many are spending even more money than what they earn, if people do this for a long time and they spend their money in stuff that does not produce any income and instead consumes their income then they have no chance to become rich.

Tell that to the people that only has the money for needs, they wanted to get out of spiral called poverty but we all know and studies show that when people are on and below the poverty line, they have a higher chance of not going to get above it because everything is more expensive when your poor, you can't afford to go to dentist so your dental health deteriorates to the point that you are going to go to the hospital when there is an utmost emergency. Some people here haven't experienced what it really is to be a dirt poor based on what most of the replies.

DNL

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"#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."
I don't really oppose it, but I don't think it matters that much in terms of money.
If you're fine with setting down a single place for many years, and you are able to get a good mortgage with a low down payment it's pretty much a no-brainer.

But as pointed out in the thread. He is not exactly a person I would pay much attention to. There are a lot more people I would rather spend time on.

Silberman

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Some good answers on the thread but for the most part people are never going to be rich for the simple reason they confuse needs with wants, they spend so much money that many are spending even more money than what they earn, if people do this for a long time and they spend their money in stuff that does not produce any income and instead consumes their income then they have no chance to become rich.

Wawa2013

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Sometimes getting rich is not as difficult as imagined, in fact there are so many people who have a low level of education but manage to get rich.
Getting rich doesn't have to have a college education or work in a big company. But what is our mindset to make money, and also always be able
to identify every opportunity that exists. I am not a supporter of Andrew Tate, nor do I like his behavior. But I like his mindset on how to make money,
it's true we only need to buy Bitcoin and HODL. I admit I was too cowardly to buy Bitcoin when the price dropped to $ 6,000.

Yatsan

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It is not that most will never get rich, it might be just let us say reasons why someone is having difficulty on getting rich and seems to have been delay or postponement on getting into their goals. Everyone can be able to get rich if they wanted to as long as they have the right mindset, doing actions as well as the resources to make it possible. It seems like it is being discouraging to think that those reasons will never make you rich. Those were just factors delaying your progress of being rich but you still can be able to be one once you conquer all those hindrances along your way. That is why you don't just need to be hard working, you also need to be wise if you really wanted to be able to reach your goals.

zanezane

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Quote from: ethereumhunter on March 06, 2021, 12:25:36 AM

Quote from: zanezane on March 05, 2021, 09:02:11 PM

~

Being rich or not is a choice. I believe that we can become rich like them. If they can use their money properly, they will have wealthy. We can rich someday, but that depends on how we can work in the right field and how we can use the money. If you can accept the risk that you will use to search for a new way of making money, you will see that you can have a chance to make money. Maybe if we can search for a new job that will not bond us to work for the company and that job has a chance to earn more money, we will take that money and slowly become rich, whether related to bitcoin or not.

You are right about being rich or not is a choice but do you think that if you say that to some dirt poor person who lives off of food stamps and the pity of his/her neighbors, what do you think will be his/her reaction? You can't make choices if you know that choosing will only lead to more suffering. Not everyone can get a job dude, if what you are saying was true all along, there will be no poor people that are living on meager lifestyle.

Oceat

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Quote from: Xinarae* on March 06, 2021, 12:36:38 AM

To be rich you need to have a few things in mind intelligence communication skills discipline and selfcontrol, attention analysis and the mindset to give up the present all people want to be rich or become millionaires. But not everyone can be rich some try and succeed some try in vain they can't take advantage of that opportunity to get rich because they don't know the right way to get rich you have to know the rules and regulations you have to adopt some strategies. You can easily become rich if you apply the right methods or rules must learn to use money properly.

It's easy to say than done but it actually takes some courage to do all of those things. Getting rich is not an easy task there's a lot of sacrifices you have to do in order for you to achieve your goals and yes it requires a broad mindsets that most cannot attain easily. It takes a lot of experience from different kinds of businesses and investment before you get to the point of being one of the richest man in the world.

That guy in twitter might be rich already because if you look at how he did invest with those two bottom prices with that huge amount. There's no way he's not that rich already but if he's rich already then why would he sells some lessons? The only thing that I can think of is that he's some kind of a fraud or something because there's no legit records of how he gets rich.

el kaka22

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I have to say this dude knows what he is talking about for sure, we are seeing more and more people investing into old timer stuff and that is the wrong way of approaching money nowadays, it is obvious that things that made money to people 20 years ago are still used a lot as investment yet they are not making that much money. For example I have talked to my dad about my crypto investments and he said "these people will not let you make money, it is all a trap" so basically he thinks that there are some people at the top of bitcoin that gives us some money now so that they can take it later on... that is how much most people know about bitcoin as well.

However I believe we are changing, I believe people who can't make any money from salary anymore will start learning about finance better and eventually world will have better investors all around, GME is a great example of it.

Trinx01

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Wow, that is insane, he really earned a huge amount of money from his investment, I just amazed at how confident he is by buying a huge amount of money worth of bitcoin, he's good at saying that there is still a good opportunity in the bad days or when the pandemic started. He had almost earned about 900% interest from his investment, which is insane, and the amount of money he had bought from it. Those people who really believe in bitcoin at its worst deserves to earn more than that.

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