Topic: Creating a prepared mindset before the reality emerged. (Read 335 times)

You seamlessly got the message conveyed, with much light thrown on it in with a different scenario.

Very interesting and fine story, but this is no English class. When you are able to buy something you never thought you could bro even for a sec you will never forget about that thing. I mean bro it took u ages to be able to save and buy a car and you just forget it at your office, I bet you will be holding the car keys In your hands every minute. And again this isn't related to forgetting about your phrase, bro when you lose your phase, you lose it for life.

Bitcoin does not promise a good fortune but if you have prepared your mindset that you will go for that fortune, then that will be very possible for you knowing you take the risk and you have faith in bitcoin and in yourself. Otherwise, everything will be impossible to attain. We always work hard and invest hardly because of our goals, but that will go to nothing if our mindset is not prepared and is not capable to take the risks and challenges.

Your story is seen motivational but maybe its quite odd to consider that someone has forgotten that he has his own car and drive home with public transportation. But i get it. It's useless to achieve your goal without a prepared mindset because you will eventually lose it again. This story goes out for all newbies out there as mostly they enter the market without a positive mindset and even if they have made huge profits already, they were unable to sustain it because their mindset is not totally set.

I think all of us have big dreams but not all of us are capable enough to realize them. Not because we have less skills and knowledge, but because our mindset is not focused to it. So i think the lesson you want to impart OP is set your mindset first and dream high as much as you can so that if big opportunities knock on your door, you are always ready to grab that big opportunity and go straight forward to achieve your goal.

In bitcoin or Crypto everything is possible but of course you have to really believe that this is a high risk investment. You may not be able to only expect profits while you ignore the potential losses due to greed and your inability to manage investment assets properly. Having an investor mindset is important, it's a great way to make money work for the owner.

Have a goal, what are you investing for and to what extent you will profit. You don't have to think about anything very big about investing when you have reached your desired target. This market is unpredictable, it is subject to change at any time and we should be fully aware that no one knows about the future of this investment asset despite the fact that it has become a great option for high risk-loving investors.

There is no similarity between the story you mentioned and the actual scenario. In the story, the man did not remember where he parked his car, but he could return to it, but in fact, you lost your coins forever.
The private key is the one that transfers ownership from a third party and returns your money to you just as you keep the cash, you don't leave it in the backyard and sleep at night, or don't leave it in the guest room, but buy a safe and keep it in a safe place.

• You can buy a hardware wallet and then you either need to access the device, enter the password or access the seeds.
• You can also create a multi-sig wallet and allow multiple people to spend your money.

Before getting into anything, the thought process and how you plan to approach the market is important. With the right mindset, investors are surely going to learn new skills and be able to make the right moves. Hence, with patience and a sense of focus, it is possible to achieve what they set for.

I am sorry to differ here in the following ways;

1. I believe the story above is purely fictional. I said so because I have hard an experience of having a first car. When my brother had his first car, though the car was packed inside the compound and the gate rightly locked, but my brother didn't sleep all night. He left part of the window open from where he will be peeping his new car. It was after some months that he got used to the car and we could not stop laughing at him. The feeling shouldn't be the reversed.

2. Let's assume the story is real. The moral of the story doesn't mean that the man doesn't have a millionaire or billionaire mindset according to you. It rather means that the man has the spirit of contentment. Contentment is a great virtue, if you wish to leave a peaceful life.

I would want to believe that this story is a fabricated story and did not happen in real life, because unless the man in story has memory issues, i find it hard to believe that he forgot a NEW car, that he just bought after never owning one. There's an attachment someone has to something new in their possession especially when it is something they have never had, you barely even want to let it out of your sight. That being said,Some people forget/misplace their seed phrase because they didn't think it wasn't important at the point they just joined crypto, and maybe they had little assistance/guidance. If they did, the importance of the seed phrase and why it should be kept safe would have said, they found out a while too late for some that they should have secured their seed phrase, i don't think it has anything to do with mindset.

And what is a millionaire/billionaire's mindset? I guess I'd be happy if a lot would learn to adopt the investor's mindset, the greedy-when-others-are-fearful mindset. It seems that a lot of emotions are invested in the market right now.

Anyway, more than this millionaire/billionaire mindset which is actually very risky, what people should be accustomed to with the advent of Bitcoin is freedom. I guess we still have yet to develop in us that independent-from-the-banks mindset. I guess many failures in Bitcoin safekeeping stem from the fact that we have yet to successfully internalize the we-are-our-own-bank mindset. Many easily forget the implications and responsibilities of becoming their own bank.

For example, they got into Bitcoin but kept their funds in a custodial wallet. Or they kept their funds in a hardware wallet but stored the seed phrase in a cloud storage. Our mindset keeps returning to the old thinking that somebody is safely keeping precious things for us. That has already been changed with Bitcoin.

Usually this is used by referral seekers or pyramid schemes to eat their user. They show luxury mobi, luxury homes and other products to indoctrinate the person they want to invite. Of course, with this, many people are interested and forget the risks?
Sometimes people think about the profit and the thing to do. But in the end reality is different and it drives them crazy. I think it's not understanding and not having management on every action and getting carried away with that lust for get rich quick that makes them forget. So if you want to make them ready then don't say beautifully many bad things have to be told.

I agree with you on your view about this story, I don't think is possible for someone to forget his brand new car simply because he is not use to cars or he got the first since his life time. Change is constant so I see no reason why some one who just purchase a new car will forget his car key talkless of the car itself that's impossible and wrong story, he could forget the key but once he get closer to his car sure he will dip hands into his pocket to look for it.

Maybe the guy in thr story still cant believe that he owns a car and back to his normal routine. This is a good story and we can relate it to crypto perspective in someway. He dont budge with the fact that he already got a dream car but still able to continue his normal life. Unlike people who earned on crypto, forgot their old ways and somehow become a change person after that. Anyway, I am bit touch with this one to remember that having more money doesnt mean you should change the lifestyle of yourself.

I understand the humour in your story. I've heard a similar story but it was with a drunk dude who forgot he drove his car out but went home without it. He even slept off without knowing it till the following day when it dawned on him. Well, whether plausible in both cases or not; I still got your drift. However, the situation of the man in your story and of Bitcoiners who lose or lost access to their wallets don't connect for me. Come to think of it, cases of lost password/seedphrases are almost a thing of the past now. Such were mostly for early adopters and that could be because then most people didn't believe Bitcoin would amount to anything this big. Thus the carelessness in safeguarding such vitals. Now, people have learnt.

The allegory of the story is what you have failed to absorb in, but rather focusing on the surface of the story. As I believe the story is an attachment to visibly drive the actual message home.
Think outside the box and get the map right.  

This isn't a huge problem, because first - there's enough units of Bitcoin to satisfy the needs for accounting value, and second - this happens at a much lower rate, because now people are aware of how valuable is Bitcoin, and how it can become more valuable, unlike how it was in the past, when it was just some novelty toy.

They fact that you can lose your coins forever with no chance of restoring them is a fundamental flaw of Bitcoin, when compared with banks, and there's nothing you can do about it. Just like banks have a fundamental flaws that you need to trust them. People should decide for themselves which flaw is more dangerous.

I understood the meaning of the metaphor. There are people who are used to the fact that they have either an average or a very small income. They are used to it and do not strive for more. On the contrary, they are afraid of big money. This is how these people live for years without changing anything in their lives. They have risen to their own level, and above that, they believe that this is not their level.

But if in life they get a chance to get more, they will most likely miss it, due to their hopelessness, not even stupidity, but humility, that they don’t need more.

Here you need to understand that bitcoin can change the lives of such people for the better. You need to accept this. Take the opportunity to change yourself and your thinking.

But when it comes to missing bitcoins and losing passphrases for them, it's hard to blame the people who got interested in bitcoin in its early years.

If you are told a story today about a new item, coin, or something that people cannot accept and believe, how many people will take it seriously?

But everything else is correct. If someone is currently investing in bitcoin and writes his seed phrase on a piece of paper in chicken handwriting with his left hand, as described in a recent post, the loss of his investment will be guaranteed. But only the owner has himself to blame.

I agree. That was an interesting and somewhat amusing story, but I am not sure how it relates to a bitcoiner forgetting or losing his wallet's password or seed phrase.
It is one thing to get used to doing things in a certain way, and some people need time to adjust to the new situation, but it is quite another to behave irresponsibly toward your own property. Sure, I have lost passwords and wallets, but that was because of my stupidity, not because I used to do things a certain way.

Every investment has a pay day. Millionaires and Billionaires don't happen by mistake it is an intentional act of persistent, commitment, dedication, focus and hardwork. With a focus mind and good analysis and research for each investment the mind is already developed for the best outcome. Nothing new will look overwhelming to an investor with focus not even Billions

Your story scenario is impressive,i quit understood your concept, and this story is a word of advice from everyone who dem it fit to invest in cryptocurrency especially this time of bearish market, we all know that hope is not lost when you come in the aspect of cryptocurrency and it's investment, what we needed in life to survive is patient and endurance in all condition, provided that we have lay a foundation.

The economy today is variable and requires the average user to have a detailed knowledge, even in general, of the economy, otherwise he will be forced to work overtime for nothing but that he has not learned the basics about the economy.

Bitcoin is one of the great solutions to these economic problems, but just like any solution, if the appropriate mechanisms are not taken with it, it will eventually turn into another problem.

It's like you still don't know the total value of something unless it comes to a time that it shows its actual value or something like that, right?

Imagine having been there and having BTC in your wallet; then you didn't mind it too much because it has little value, and you eventually forgot it. I think that's the hard part for everyone, not just those who experience it but also those who have something right now and don't seem to see its value then. It is just the hope that would make them feel that it's worth hanging on to, and if you manage to have it stashed and make it grow, it could bring you something valuable, or it could not. Either way, you would still decide what to do for that current asset.

Could this be applied with everything and not just assets? Like loved ones or something 

It does seem like something you would expect to see in a movie or TV show. Think of it like this. He has gotten used to riding the train and using public transportation so much that it's become instinctive. He forgot about his car because public transportation is all he ever used for years.

I remember an episode of OFAH when Rodney got married and moved in with his wife (of course). After his first day at work, he returned to his brother's flat like it's the most normal thing. So Dell tells him: "can I tell you something Rodney? You don't live here anymore! That always makes me laugh.

However, you can always return to the parking lot and get your car. You can never retrieve your coins if you misplace your seed or don't write it down.

This is a huge problem in the Crypto ecosystem. Billions of USD worth of Cryptocurrency has been lost to this type of carelessness or what I should consider to be ignorance. As the last count, I heard that over 140 billion USD has been lost to passphrase forgetfulness. The major causes are ignorance and limited knowledge about passphrase and security management. Many people just want to get into the crypto business without the basic knowledge and preparedness required, and I can see how that relates to the new car owner's scenario.

Some hackers claims to be helping owners regain access to their digital funds but I'm taking that with a pinch of salt. If it's really possible like that, then no wallet  is safe.


Well, while this may be extremely hard to believe, I can confirm that I've seen a man, not a new car owner though, who usually forgets his Cars and instead, treck home   not once, but multiple times. Although that was believed to be due to health problems such as Amnesia.

I think it's not entirely impossible for a new car owner who has been used to taking public transportation to forget he got a car and instead, took public transportation he has been used to.

It's a good and interesting story, but I am finding it very hard to believe how possible it is for somebody to buy a new car, drive the car to the office himself with joy, and in the closing hour, he forgot he came with a car, am sorry to say but it's only motivational speaker that tell this kind of story.

And I also do not see how the story relate to some one who forgot or misplace he's or her wallet passphrase, people can misplace their wallet passphrase for several reasons but I don't think psychological disconnect to what they own in that wallet is part of the reason.

Think of it this way, the man who forgot his brand new car in his office (_{if this is even possible}) can easily take a public transport back to his office to get his car back.
But the man who (simply put) lost access to his wallet, how will he gain back access to his wallet without the passphrase, private key etc?

It's a nice story by the way.

Let me share you a story.

A certain man all his life while working never thought he was going buy a car he could call his own, then one day fortunate smiles at him and he was able to buy his first ever car. Filled with immeasurable joy he drove the car to his work place the next day. At the close of work that very day he walked out of his office forgotten he came with a car of his, stopped a cab (public transport) and boarded home.

On reaching home, his wife astonished seeing her husband from afar, someone who left home to the office in his new car is coming back home using a public transport instead of his new car.

There and then she asked him, what happened to your car?

Diverting this story a bitcoiners' life. We would find out that many butcoiners today have lost some good asset of theirs as a result of this kind of scenario in the story above.

You hear people crying that they have forgotten, lost or misplaced their wallet phrase/seeds or even their password. Some of these stories may not be unconnected to the case of this story above. Mind you it wasn't because the man in question was careless, unserious, or perhaps whatever words that you feel could fit in for the situation. But probably because he never imagined in his lifetime that he could own a car and as such the reality never connected or linked with him even when he got his own car. Same with some butcoiners who never imagined they could make or achieve certain assets and being overwhelmed by it they loss connect (psychologically) to access to that asset consciously or unconsciously.

DEVELOP A DIFFERENT MINDSET:
Today, let everyone out there who's still working hard and investing hard, haven come across this story, take a decision to have a change of mindset, a millionaire/billionaire mindset so when things starts pumping better and higher increasingly in figures you wouldn't be overwhelmed cause already the millionaire/billionaire mindset was already there before the reality emerged. cause in Bitcoin anything good can happen.

Think about it my friend. Just think about it!