Topic: The secret to creating wealth... (Read 517 times)

Hey, I've done it and it hurts me when you say we deserve it. 

However, I'm done with that so I am free now. 

But there's indeed a risk in it. Instead of holding it in our wallets and having the freedom not to tie it down with these centralized platforms, still many still chose to do it because of the term of "earning passively".

Sounds nice but the risk is very much high whatever happens to that centralized platform.

Wealth can also mean a small amount of money and anyone can make it easily. So yeah, it is not a secret anymore. As for the big amounts, there are still information on how we can attain them but it is just not easy, that it makes some of us think that there is a secret that only rich people know and they are hiding it from us. Having an open opportunity and resources are a great thing already and they can be rare, so we must not take them for granted.

The first thing that came into my mind when you say scarcity, is the supply of the coin. There are coins that are low in supply but indeed that it doesn't mean they are now as good as Bitcoin, which also has a low in supply. It's only interesting that even those coins which has a very huge number of supply, like the meme coins for example can still pump effortlessly. This means that other factors are important too and we must watch them out.

Holding is not simple as that. You even said that we may not be rich now and that can cause us a burden actually. It also means that our asset can drop and this gives us an even strong negative emotion. This is the reason why not all are motivated to HODL. It is either they know it and visualize it, or they already experience the process.

It's not really that easy. On paper, it sounds easy but there are many things to consider, like family problems, health problems, stress, depression and so on. Bitcoin is simply one way to create a wealth but there are hundreds of other ways.
I think that it's a little late today to expect something amazing from Bitcoin because it's already very high but I don't say that there isn't room for improvement, no, there is but not like it was before when it went from a few dollars to a few tens of thousands. But it's definitely still a very good option.
You know, it's hard to talk about secret to creating wealth when someone sells a duct-taped banana for 6.2 million dollars. This world is insane.

If someone is really interested in what is money, how does money work, what is inflation, what is investment and so on, then they should know the Bitcoin because it's not 2008 anymore and there are tons of information about Bitcoin, it's free to use Google. Sorry but no one will come at someone's door and knock.

Not everyone is supposed to become rich - right? They are rich because the others are poor.

That hurts to see because potential investors are being lost that way. We can also help the horse to the pool not make it drink, so dont bother about it but always advice what you feel about shitcoins to newbies.

Indeed one of the reasons of resistance towards bitcoin. Like a bad event in childhood, it will haunt them. Cant help much but allow them to explore bitcoin once again.

Yeah those people who stake coins, deserve it. 

If we were to look at the global distribution of wealth, then we can say that apart from the US, the Western EU, Canada, Japan and the UK, all others are not in a position to afford to save in the long term, and especially to invest in Bitcoin, which many do not understand at all. I don't know if there is any data anywhere that would show how much an American or Japanese person saves per year on average compared to someone from Argentina or India, but it seems to me that we would find very big differences.


I agree to some extent, I also use BTC as a hedge against inflation and it has proven to be superior to anything else so far - because in about 10 years I turned an invested $200 into almost $100k and I think many people find it hard to believe that such a thing is even possible. However, if I went back in time to check how much BTC I spent during that time, I certainly wouldn't get a small number, but even though I understand that I could be even richer today if I were just holding it - I still don't regret it because I believe that BTC should preserve its primary function, which is to use it as a currency from time to time.

There are no secrets to creating wealth; you are either smart or foolish in life.

You can acquire knowledge, but no one can teach you to be smart. Moreover, no amount of knowledge will help if you act foolishly.

/Over&Out.

Unfortunately not many people able to be in this path.

Most people abandon Bitcoin and choose to invest in shitcoins because they feel Bitcoin is too late to make profit.

Some people fell to ponzi scheme or any other project that claimed to be Bitcoin investment, which make them trauma to invest in Bitcoin.

While other people lost their coins due to staking in centralized sites.

And some people will choose to trade their bitcoin to get more Fiats, isn't that foolishness?. The Fiat is no longer bringing monetary solutions to humanity, neither is it ending inflation that has crippled the world economy but yet some persons just want to die with the mentality of keeping more Fiats than bitcoin in their possession. As the price of bitcoin is skyrocketing, that is how it's value is increasing and it's affordability is also reducing and becoming difficult for many to buy. Why won't those who are lucky to own it when the price was cheaper, HODL it.

It is crystal clear that bitcoin is becoming more of store of value than being traded or used for transactions because if it is being stored and the price gets to an incredible milestone in the future, the HODLERS may have created generational wealth for themselves depending on how much of it they have acquired and hold in their custody. Why don't we hodl an asset that have the potentials to turn us into millionaires when we hodl for long term future growths. It baffles me when people who earns in Fiats trade their bitcoins instead of them to use their Fiats and buy more bitcoins to their holdings.

It remains a secret for many who have not found the scarcest asset, even when they have found it the next question is whether they have enough ability to start investing because there are many who even to meet their daily needs still have difficulty, let alone start investing even though they have worked hard enough and it is difficult to invest when the main needs have not been met.
But for many members in this forum they should have been able to do what Op said, even if they do not hold all their Bitcoins at least there is something to hold for the future.

It's difficult for some people to grasp this because it is indeed difficult. In most places in the world, even making money itself is difficult enough. Trading for scarcest asset is good. A week later, the scarcest asset is traded back to fiat with a loss to pay unforeseen bills.

I guess Bitcoin indeed isn't for everyone, at least as an investment. And perhaps the most important of all from what's listed above is to make money. Bitcoin investment only applies when one has enough surplus. So, create surplus first.

Is to never stop creating your wealth. Hard work and patience are a must. There’s no instant way to success so you have to focus on the process until you start see things in progress. Right then, if you continue to maximize your limitless opportunities and make the best of it, not only you will create your wealth at the moment but also you will secure your future finances. Consistency is the key. You can rest but never stop in the process.

Delaying gratification doesn't mean you will suffer your family for tomorrow's success; you can still pick up the few things you can sacrifice and deprive yourself of in order to get that desired result you want in the future.
 
If you are earning very well, you can give your family an average life, provide what they need, and deny things that are extremely unimportant, like luxury properties, which you can live without. Denying yourself of luxury alone is something many are not ready to do when they have the finances to fund that.

It's normal human nature. It's hard for us to plan ahead for more than a few years. We feel that it's going to be worth more, but 5 or 10 years feels so distant that most people don't want to commit.

It's the same with many business opportunities. How many people can enter a business that will make them money in 10 years but they decide not to because it feels like such a long period of time that they're afraid they're going to need the money much sooner.

I've been holding bitcoin for almost 10 years and it feels great. Once you make it through a whole cycle it gets much easier. It's only hard when you're even on your investment or down a bit. When you're at a huge loss you say "fuck it" and stop caring and it's pretty much the same when you're up by a lot.

It's not as easy as you make it. First of all, if you are not from an educated or rich family, your chances of achieving success are very slim because you grew up in a place that makes everything hard for you. The mentality of parents isn't good, your connections are bad and etc... This is the case with 99% of people who grew up in such a place.
Second of all, people don't know what trading is. I'm from a developing country, and trading and forex are new words that we heard recently while the rest of the USA is doing all of this since the 20th century. Even in my generation, 90% of young people don't know what it is.

Holding an asset comes with knowledge. Sadly, I sold lots of coins in 2016-2017, because I was young with no knowledge of the economy and how things work in this world but since then, I focused on my mentality to keep patience and hold coins. in 2020, when I saw a bull run again, I became sure that holding of Bitcoin and investing in some altcoins with a big potential is a road to success and today it makes me very happy that I've come this far. I'm not rich but when I compare current days to my past days, I'm proud that I stand here, where I am.

It's all about the long term vision and the ability of holding on to the asset with the most potential. Bitcoin's market cap is huge, and the key to making the most out of it is having patience and discipline to hold onto it for the future. It can be tough to adhere to this discipline and also resist the temptation to sell too early. Delayed satisfaction is the game when it comes to investments like Bitcoin and other cryptocurrencies. It is definitely a strategy that requires a strong mindset and the willingness to ride out through the ups and downs.

The get rich quick advert promotes very high expectations from new investors, the high expectations contribute to the impatience.

People forget that they have to make money first in order to buy BTC or make any investment, that is why you can see people asking questions like how they can make money from BTC, even when they are jobless and they are not making any money in real life. BTC is not a get rich quick scheme, you have to buy BTC with money you have already made or you need to have a skill or knowledge you can offer and earn BTC as payment

Both points are correct.
I 'd add to that, the fact that people buy something (an asset), just because a friend told them to do so.
Most people don't care about experts, but they trust their good neighbor better, because they helped them with some water pipe maintenance the other day. This is, sadly, a true story.

2 reasons for this impatience

1. whomever told them about bitcoin done the get rich quick advert rather than true investment advice
2. most people throw all eggs in one basket and know they need the money out soon because they didnt buy their groceries or pay their bills that month so were hoping for quick win to then pay bills.. they didnt prepare for emergencies or have a separate savings emergency fund to buffer their daily needs.

Everything starts and ends when people get impatient. Simple as that! Most people believe they 'll become quantillionaires in 2 weeks because they are smarter than others and they lack the patience to do the obvious thing.

The problem with most people is ignorance. They don't want to spend time to learn about a new investment. The have just decided to hold on to what they have known long time ago. There are people who still invest in company shares when it is clear that Bitcoin is more profitable. Others have been blinded by misconceptions that the crypto industry is a scam and will soon phase away. Bitcoin has the potential of increasing to any price, so I agree that we should have more than a four-year plan.

The pioneers are still on the track of hodling for the long term while the young investors are Only interested in the trading and short term investment. And most of them that saying in the long term investment in the economic board are not even investors but depending on campaign funds. The delay gratification is an another method of long term investment. But when the price rise to some setting level it is tempting to sell. Like what happened recently, when the price was about hitting $100k and it was $99k I was tempted to sell but I removed my mind from the immediate pleasure of the price and continue the journey.

Like those who government workers, self employed, businessmen and other people who have extra income before investing are the ones enjoying the investment.

Agreed. Delayed gratification is the key. Most particularly for volatile investments like bitcoin. Stay focused on your goal. Resist those temptations by instilling more patience and self-discipline that will lead you to greater benefits in the future. If you dream of getting wealth, then find ways to make it possible. Not later or soon, but do it now.

Ensure consistency and high-focused on long term goals. Do what you think that will work best on you, and leverage your opportunities by creating both passive and active income. Lastly, love what you’re doing. If you don’t have the love and passion that will encourage you to pursue what you have started, you will never unlock your goals and achieve wealth creation.

I believe more than 90% people in my country are confused about their investment and they don't know where to invest. A lot of expatriate people works and saves money for their future and they think they will do something after returning to the country. But most of them don't have any plans. They seek for plans on youtube and facebook. Unfortunately, most of their plans end up destroying their dreams.

Most people don't know about Bitcoin. A couple of days ago, I heard that the central bank of my country decided to print Tk 225 billion to save the banking sectors. What a shame. Most average people don't know what is going to happen after that. I will hold dollars and Bitcoin so I can face the inflation.

I like the emphasis on getting a job and working it out, business is also an option for those who are having the guts and political connections.

Over the years on this forum, I have seen a delinquent attitude towards jobs and skills in general. People think bitcoin is an escape from the laborious lives. It is not. I always encourage people to complete their education, learn about finances in the side and consider assets available to them to store value in.

It is never easy, it was not for our ancestors and it sure as hell not going to be easy for our successors.

I agree that there is no secret in creating wealth. Maybe some are able to make use of the opportunities and resources available but it’s hardly a secret. They just learned how to do it and that’s what makes them stand out.

It’s not just about the scarcity of an asset. There should be value or purpose. Otherwise you are holding something no one wants to buy now or ever. Learn how to identify a potential profitable asset and acquire it quick and soon before anyone else.
By holding, your wealth in the future will just increase. You might not be rich now but you will be in the future and this should be enough motivation for anyone.

Theory is always a different thing to practise.
That's why we should start what OP described now to become better at it in the distant future.
Even when something would go wrong - we would be able to learn from it.

All rightly said, but you and I know that some stuffs are more easier said than done..

Creating wealth isn't as easy as it is put on paper, or written on forums like this, there are much more stuffs involved that contribute, or play important roles in determining the outcome of a person's quest to creating wealth.

The details of this i wouldn't like to go into right now, but it's also good to know that with persistency, determination and hard/smart work, wealth creation is very possible, but one who thrive to achieve this must be very patient with himself and those around him, and there are also alot of things he must be willing to deprive himself of, the ability to succeed in creating wealth lay in all of this things even though it's never mentioned on threads like this..

I get that, but many people don't live paycheck to paycheck, and leave some funds as savings. For those who choose to put their savings into fiat currency, it is just extremely dumb to leave them lose their value around 50% every 5 years.

Many of us understand what it represents today, though. It undermines its value to describe it merely as a "currency" for internet purchases. It is much more than that, and I believe the most important aspect is that it allows people to save for the future; especially for those of us who experience it before it becomes a global reserve asset. Not only can we save, but we can also grow our capital over the long term by a factor of 100x.

And all you need to do is to just hold it.

It's not just that some people are still very skeptical and don't understand how much the BTC price could go up in the future, it's that (if we take this forum as an example) people are simply forced to spend their BTC for living costs and cannot afford to keep them long-term.

People have been trading with BTC practically since the first days, and paying with it even when one BTC was worth $50, just as they do today when it is worth almost $100k. I have never hesitated to pay for something with BTC regardless of the price, because if I had just invested for the past 10 years and never taken a profit one way or another, it would have felt very strange - because BTC was conceived as a cryptocurrency, not what it has become today.

It's not that people don't understand it; they can't manage their finances very well. You will find countless people who might have bought Bitcoin at one point but then had to sell it back because they needed the funds. Almost everyone would say this, and someone with general knowledge should know it already. You shouldn't invest money that you know you might need in the near future because that is going to disturb your investment goals and targets, and you won't be able to hold your investment for as long as you may have wanted to hold it.

Someone should follow the steps you have mentioned, but they need to make sure that they are trading only the fiat currency they know is kept idle and isn't needed now or will be needed soon. You can make wealth only if you have a stable source of income from which you can take care of all the expenditures and still have something left that you can add to your investment portfolio and hold it for the long run.

Most people do it the wrong way, which is why they barely gain success in what they are trying to achieve.

I think you would think so only after you accomplish the main goal, which is to become successful in the first place and live the way you would like to.
 

Remember everything has it's price.

If you delay your gratification, you will miss your childhood to spend more time with your family, going out with your friends, enjoy the moments etc. When you're old enough and rich, you will say "damn, money is nothing, I want to trade everything to go back when you were young".

What you doing for now, sir?

Are you become a gardener or farmer in small village?

If such people would learn about BTC itself more - they wouldn't have such a stance on it.
They can try with any amount of money after all - to see their ideas working out and the BTC cycles working in their favor, to then see potential in BTC itself.

In a way, affordable to lose and affordable to live without are the same parts of one coin - people just understand it differently.
When I say, "do it but only with the funds you are okay to spend" I do mean what you said in the second part of the post: to do it without the hassle of cashing out too early due to a need for money on hands or because the hands of a person were shaky because of some different reason.
So I do agree with you - others should always remember that market is fluctuating and in order to gain something from it - one should have the knowledge and faith put into the thing he does.

And more to come - because it needs to be put into practice with much-awaited discipline behind it.
And then - it would click for anyone eager to do his research, analysis, and effort.

dont live with the mindset that investing is to have the fear of investing with whats affordable to loose.
instead have the mindset to invest with whats affordable to live without long term
fiscally its the same amount of money invested, but the mindset change affects how you treat your investment

when you have the "affordable to lose". people end up doing stupid things like gamble or take stupid emotions as reasons to cash out at the worse opportunity
however when you have the "affordable to live without", you instead dont want to make bad sell-at-loss risks. and instead are more happy to just hoard and wait for the right price

too many peoples mistakes are to invest funds long term but know they might need to extract those funds early and at a bad price because they put all their eggs into one basket and not protected themselves from the temptation to cash out when life events occur

too many peoples mistakes are to treat investments as a loss so it doesnt mater to them when they trade, thus make bad judgements and increase the risk of loss and just accept it as the inevitable that they would lose

..
in short a simple mindset change, helps protect you from bad choices

Wonderful. Just reminded me of a wise quote recently from consultant. So he said "The magic you seeks is in the work you fears".
This has also ignited me on how people awaits a huge number to batch in, make a testifying before they could take a walk-in. Problem may be late for them at then.

This is equivalent to what has happened in the space of bitcoin when we all had an earlier on opportunity to investment but we feared that we might lost our funds but when we advanced on deciding to really discover what the reality of bitcoin is, then we realized its potentials and found it's a legitimate financial system.
Then, we accepted to face the fear as being ready to accept whatever outcomes out of it by Investing with what's affordable to loose.
On the short run or long run depending on when we embraced the industry considering the market seasonal events, we were lucky to benefit from it as an investment source which has the potential to provide us riches and wealths.
The experienced ones are now comfortable doing well by investing more on the discovery of bitcoin values while those who still fears to take the risk are ignorantly lacking behind the productive of th bitcoin market.

A wise man I respect a lot once said that "if you can't hold, you can't be rich". After seeing what had happened with bitcoin this year, I can confirm that. I think there was a topic on the forum 1-2 weeks ago about a guy that kept buying bitcoin for the better part of the last 8 years.

— He works
— Invest part of his paychecks in Bitcoin.
— Held for years.

Now he owns about 11 of the world's most scarced asset. There's a lot to take from his story and your tips.

I agree, you're right. That if someone who's invested in Bitcoin and needs some immediate money for emergency, there's a need to separate funds that will be used so that BTC holdings won't be touched. I'm not the one that who have done that and for sure many have experienced it. But learning it all with the process makes us wiser the second time around and we're realizing how valuable Bitcoin is. While there goes the folks that thinks of how much they're going to exit but there's no actual exit in here. We accumulate, hold and if you wanna sell, sell some and get that spare.

This isn't the issue here man..
The main thing should be are they really ready to venture into bitcoin investment or are they that willing to trade their fiat to a tradable currency? Yes, I know there are doubting thomas who doesn't want to spare their hearts earned cash to a digital assets especially if they had poor orientation and mentality towards bitcoin and any other cryptocurrency out there.

this is where you need to keep just some funds as fiat(emergency savings) for those "circumstances" so that you are not "tempted to sell"

when it comes to bitcoin specifically. you can actually figure out the ultimate window of speculation limits..(how wild the price can go if a sudden pump and dump happened)
if you work out the most efficient mining cost on the planet and the most inefficient mining cost on the planet. you find:
the ultimates where no one wants to sell below as no one can even acquire/mine for less on the planet so wont want to sell at a loss..
the ultimates where no one wants to buy above as everyone can mine for less, so not worth buying at a premium when cheaper ways exist.

and then you can gauge where the price sits inbetween those limits to see how close to value or premium the price is to the gauge if its a good buy time or a good sell time

EG
hardware=$34k/btc (costs of 750exa of hardware spread over 2 year roi)
electric efficient= $24k/btc($0.04/kwh)
electric inefficient= $300k/btc($0.50/kwh)

so the cheapest place on planet can mine bitcoin for $58k/btc
the most expensive place on planet can mine bitcoin for $334k/btc

so the max edges of speculation low to possible high is $58k low to $334k high

so basically the market is setting a barrier where unless hashrate drops significantly the price wont see below $58k again but could test ~$60k in a market crash/correction test at current hashrate

so basically the market is setting a barrier where unless hashrate raises the price wont see above $334k if a super pump happened at current hashrate

enjoy investing and keep this sentiment in mind and update the numbers as the hashrate and mining costs change over time.. its helped me alot at the ATH/correction seasons of last cycles(numbers were different in previous cycles so worth keeping numbers uptodate, to stay in-date of speculation possibles)

Obviously, BTC is the asset that we should own. I'm hit by this. Although I've been practicing delayed gratification, in the past that I have to sell some because of some circumstances that I have no control over. It's true that holding is the hardest part and when being tempted to sell, you'll have to think many times before doing it whether it's worth it or not. Do not oversell, I've learned this from JJG and from my experience as well. It's okay to do some from your efforts of holding and take the money but never sell everything and have nothing when it's soaring high.

That's a result of FOMO. As a bitcoin HODLer I think you should be less bothered about news and focus more on the target price within a specific time span you have in mind and then you should be good to go. Bothering about firms wanting to sell can make you sell off just before a pump and then you end up regretting the loss.  In my opinion to be safe as a HODLER you should be looking for buying opportunities more at pull backs and not sudden sells at pumps.

Seems like BlackHatCoiner got kind of pissed at something he saw online or probably a situation hence this post. Well although it's not a secret not everyone can do it since it requires you to have a nice level of discipline for you not to be stuck in the average joe or 9 to 5 lifestyle. People are scared of risks and it's the key to becoming rich too.

Some people thinks there's a bigger secret than this when it comes to getting rich.
Some people fine it so hard to break away from a particular level, stage or status quo, this set of people when they are comfortable they don't bother seizing other opportunities and if they encounter challenge they always fine it difficult to get back up but those rich ones in the society are goal getters they seize every opportunity that they come across with and make good use of it.
Those goal getters are those people who will always grab Bitcoin investment opportunity.

There are lots of books about secrets to getting wealth, which shows that there are many people interested in it, and although the concept of getting wealth is a simple one, it has been misunderstood and misinterpreted by many authors in different ways, authors whose primary intention is actually to make money from selling these books rather than exposing any real secrets.

This hits the nail on the head. Delayed gratifications, which can be broken down to discipline, is a major attribute to develop if you have the intention to get and even keep wealth.

I will answer very simply.
1. Cut down on expenses.
Cut down on unnecessary expenses and don't buy things that are not really needed until you are rich and can buy anything you want.
2. Increase your income.
By improving new skills to create additional income as a side job can help you to invest especially in the most scarce assets and also very profitable from other investments if you keep it for the long term.
3. Share.
Sharing helps you a lot in the success of what you want and also keeps the finances flowing because they will pray for good things for your good, and remember your income 2.5% belongs to others or people in need.

As part of a strategy the wealthy invest in appreciating assets for maintaining and building wealth

Bitcoin has been "appreciating" since its inception

Bitcoin is an asset which has outperformed every other asset

Buy and HODL any appreciating asset - BTC

never sell all your hoard even when in profit
never sell at a loss no matter what (leave it hoarded until the next cycle(pretend its a pension plan locked for years))

if you want to play the daily/weekly changes.. only use a small X%(single digit%) to play with
if you want to play the cycle changes.. only use a small-mid VX%(double digit under 50%) to play with

It feels like an idea came into your mind and you started pressing your keys LOL

Holding is not easy. When you see btc price is above $20k you feel like okay that's it. Now I am going to sell. You sell and then you see it went to $60k you feel like damn what did I do. Then it goes back below $15k and even below $10k [you already bought back at $30k] you feel like you are losing everything that you are holding.

Now you see when bitcoin is over $70 you start repeating the same feeling and sell. Now BTC is going to touch $100k.

other thing to learn is the difference between wealth vs rich

rich is those that waste value to display a status of richness (flashy clothes/cars, to impress family&neighbours)
where as wealth is when you dont waste value and you dont reveal it just to impress people

people accumulate and use their wealth to make positive life experiences for themselves and close family and not to just show off to family/friends
EG fulfil dreams to visit new places/cultures instead of a lambo just to drive around hometown

once people change their spending habit/lifestyle, they start aiding accumulating more wealth and using it more wisely

I 100% agree with you.
More people should know this.

keep atleast 1month of income as savings for emergency.. then you will be less panicky/tempted to sell investments when life stuff happens or markets change
dont rely on your wealth stash/bitcoin when life gets tough, keep bitcoin investment separate(like a pension you cant touch for years even if your in debt)

Yeah true it is really a challenge for most of us to keep on holding because we all know not all of us are that stable nowadays. if I personally have a stable source of income then it is easier for me to just hodl the scarciest assets I might interest in investing but unfortunately all I have is Bitcoin and I ends up selling it for some reason. For me Bitcoin is the perfect asset everybody is looking for it's future proof and inflation proof and of course decentralized.

I read one of the most profound advice from Fred Krueger which is similar to this advice of yours. Fred said, "Put all your savings in Bitcoin" . I don't think there is any other more clearer way to say it than this.

As one reads about bitcoin, it becomes easier to delay gratification. Instant gratification comes from ignorance about Bitcoin. Unless one reads they cannot grasp the market capitalization of Bitcoin and how much wealth that translates for the individual who hold just a little of it.

blackhatcoiner only thought it was a secret because he has only just this last year learned to accumulate rather then spend, so he has only just learned the lesson the hard way this cycle that he wasted alot of coin in the last cycle by spending it on his life style. now he is seeing the beginnings of this cycles pump to the 2025 ATH he is learning to hoard and wait and now thinks he is expert level financial guru who thinks he is revealing (a secret of) something he only just learned to follow this year

secondly.. no one stores wealth as money.. those that understand the term wealth know not to store it as money.. the only money they store in banks is emergency funds(savings) for temporary/short term events.. so that they dont need to dip into their wealth investments when surprises happen in life

if you are putting all your spare income into investments but dont have an emergency fund to take care of surprises, people end up dipping into investments at the wrong times and mess up their investment potential. so having a savings fund aswell in regular access form where its like only a couple months of income to cover emergencies is also smart and prudent

many experts say save just one month of income to start with as bank savings(for emergency only) and then start putting excess into wealth creating investments. that way you are less likely to rely on, get paranoid or itchy trigger finger over to need to cash out the investment if you have the savings buffer as the first point of access instead for funds..

..
as for how to have excess money to save/invest.. this may involve increasing income. or organising lifestyle to decrease spending habits..
but in short you cant accumulate wealth if you dont have anything to invest
also when investing dont buy high sell low ever.. always buy low sell high.. its never a loss until you sell at a loss, so just dont sell at a loss
(which is why you have a savings emergency fund to avoid needing to sell at a loss if life events happen)

p.s ive been hoarding and accumulating bitcoin since 2012.. retired before 40 and loving it

You have to understand that human friends are smart and stupid, and that will always exist, so there is no need to worry about those who don't listen, this world is too wide if you only focus on those who can't adapt and want to progress to be better.
Even though their eyes clearly see how bitcoin provides benefits to its holders, but they are still afraid and don't want to make any moves, the answer is because they are stupid, that has become a conclusion that we must realize today why many people still ignore bitcoin, and you know what will happen if bitcoin becomes rarer and more expensive? they will ask, "is buying bitcoin now good?". LOL

Perhaps, but I would argue that taking responsibility for researching financial freedom--something that concerns everyone--is not a hidden secret. You must do the research yourself; no one will come rescue you.

No one? Lol! The overwhelming majority of people store their wealth in fiat currency, mostly in the bank with a tiny interest, thinking this slightly protects them against inflation.

Also, good money, beyond useful to effectively and efficiently transfer value across time and space is also useful to store value.

Any commodity that is scarce in circulation has the ability to make someone rich , and holding on to such commodity is key as scarcity is what defines the price value of a particular commodity, even in Bitcoin it's so those who have Bitcoin assets should keep holding it because the price is always appreciating so don't wast your priced jewels by selling it in the current price the secret of creating wealth is scarcity

Hold Long-Term: Bitcoin is known for its long-term growth potential. Holding BTC over the long run, or "HODLing," can help benefit from the asset's price appreciation.
For a deeper look: https://trading-system.nivor.free.hr/images/Capture_12112024.png

For a financially savvy person it is not a secret, but for many people who have a vague idea about finances, it is a secret.

Everything is relative, my other one.

Even bitcoin for many, decades later, remains a "secret" financial instrument. Practically inaccessible.

No one who is sensible will store "wealth" in money, because it is not a tool for "preserving" wealth, but for exchanging "value".

A scarce asset (resource) can be anything. Be it a piece of land, one of Stradivarius' violins, a share (stock) of a technology (and other) company.

But within the framework of communication on this forum, of course, bitcoin is voiced.

This is not difficult if you allocate "free" funds for exchange for a scarce asset, and not the last, or even worse, borrowed money. Well, and of course, moderate your "appetite" for spending on all sorts of useless nonsense.

Here we have the influence of the "noise" of the consumer society, generated by companies to "pull" money out of people. A banal redistribution of resources. If many begin to increase their own wealth, then corporations will not receive this wealth.

That is, the propaganda of consumption is cultivated in society, which is difficult for people to get rid of. And without this, they can't move to the next level of "awareness" of how to get rich, which precedes the correct strategy for increasing wealth.

People ain't keen on breaking away from Status Quo
Especially if such state seems comfortable.
Forgetting that change is ever constant
The difference between a poor and a rich person
one saw and seized an opportunity when the other saw only failure.



Well another that I would consider on the list is

Stay Healthy

The secret is not to be the regular guy that hears about an asset, talks about it, do around with it and never holds it.
Hold is the action of the 1% and you should be among the 1%

Do your jobs to get bitcoin directly is best, but if you can not get bitcoin directly, you can use your salary for purchasing bitcoin. If you are a business entrepreneur, you can use your business revenue for investment in Bitcoin.

Bitcoin is limited, and today there are 19.79M bitcoins in circulating supply but its total supply is only 21M bitcoins. There are only 1.21M bitcoins left for Bitcoin block subsidy till 2140, and if you can invest money in bitcoin in previous years or since this year, we are participating in this market sooner than many people.

No more than 21M bitcoin in total supply, it won't be change practically.

How is the 21 Million Bitcoin Cap Defined and Enforced?
Can Bitcoin's Hard Cap of 21 Million Be Changed?

... is not a secret.

• Do your job. Innovate, produce, make money.
• Trade your fiat currency for the scarcest asset.
• Hold the scarcest asset.

That's it. It's all about delayed gratification. The hardest part is to actually hold it. Bitcoin has an addressable market cap hundreds of trillions of dollars worth more than it currently does. Don't be the guy who traded it with a 99% discount.

It amazes me how difficult it is for some people to grasp that.