Topic: True wealth and fake wealth - page 4. (Read 1269 times)

I'd say investing in real estate is more risky today than investing in Bitcoin. The chances are that the land you are buying today will turn out to be a fake wealth in the near future because of some poisonous plant was built near it or just because of the lack of infrastructure in the vicinity.

True wealth will make you to stay long in your wealth, by having different businesses around your country because they will start generating profits that will continue to accumulating your wealth in the country. But, fake wealth don't use to last long because if you verify the source of the wealth, you will know that it will not going to last long like those that invested in different businesses, and it will be very hard for such category of business owners to fall down to zero level in wealth because they are not depending on government in the country.

You want to acquire real wealth that will make you popular, I will advise you start investing in estate business and BTC business because there are many opportunity in those businesses that will make you wealthy which is the desire of many investors these days.

So the summary of what you're saying is that real assets are things you can get hold of at any time and you can take them from place to place? That's false. There's nothing like real all fake assets. The definition of an asset is "a thing or quality that has value, especially something that generates a cash flow". So it doesn't matter if you can take it with you in time of an emergency or crisis or not, as long as that thing has value and can bring in profit it's an asset.
Saying Lands and rear estates are not real assets is not true. There's no part of an asset that says they must be useful during the crisis to be called an asset.

And by your logic, fiat in your hand may turn out to be nothing in a time of war because nobody might want money in a time like that. Your money might be useless. Everybody just wants to survive so what would your money do?

These things may differ depending on where we live. It also varies depending on the time spoken. For example, in my country, land prices have increased very much and those who want to sell cannot. While it used to be a very advantageous investment, it is not now. As I said, investment preferences change depending on time and where we live. Maybe in the future this situation will reverse and they will become a good investment tool again.

As an investment choice, the traditional approach finds purchasing land more appropriate. Bitcoin investment has always paid dividends in the long run. Those who can afford to wait long see Bitcoin as an alternative to traditional investments.

Not always true for everyone, I rather have something that nobody can touch, which is why I prefer bitcoin. My grandfather owned a huge land, at a very very good location, had an estate there, and my father grew up there, he wasn't rich but he certainly wasn't poor, richer than I have ever been at least.

What happened? Government took his land, and they can only do it if they build a hospital on it, what did they do? They build a hospital on the quarter of the estate, and rest they sold and made a lot of money and plenty of politicians pocketed the income instead of the public. This is why I rather have a thing that nobody can touch, no bank, no tax officer, no government, I just want to own it, and crypto in my own wallet is like that.

No not everyone. What about the majority of us here in crypto? We don't know much about investing before and even if we discovered it lately because of cryptos, we think that cryptos are still the best investment assets compared to others out there including the land or the real estate. OP already said, one big reason and that is; cryptos are digital, so they are easy to kept even if your invested amounts are so huge. About the land, no. Its price doesn't stay the same, whether you are buying it or selling it, but it can always appreciate.

This is one of the cons as a buyer, not like to cryptos that they are volatile, so late participants can still be able to buy the coin at a reasonable price. Cars on the other hand, do still have their own use cases and vintage cars can still retain their value, especially if we take care of them very well. Car has a maintenance but what about land? They also do have it actually.

What you say is very true, everyone would certainly prefer to own a piece of land if they are thinking about investing in their future and I think the price of land will remain the same in a few years and will increase over a long period of time and that will be very In contrast, the price of a car can change quickly when the newest model comes out.

I agree with you, if we choose to own a car, of course it will have large maintenance costs and there are other costs as you have mentioned, but with the plot of land that we own, we can use the land to manage things that can generate profits such as using it. For agriculture, of course this also produces profits for us.

actually I understand the perspective you are heading to but sometimes in as much as the assets that's moveable is not good at times but sometimes is the best but however it all depends on the particular assets in question because considering when there is a crisis and Banks will no longer be functioning as such making things very difficult for people to survive but those that has moveable assets will be able to utilize it and take care of there needs, however land is also one of the best assets because it appreciates in value as time goes by, as the matter of fact there are some places land is there major assets because there is a higher chance in the next 10 years after purchase, the land will worth higher than what you bought it with.

It's good that you are referring to paper fiat currency as true wealth. Yuval Noah Harari would approve. And I'm serious here, no sarcasm or anything. I adore Harari, and what he meant was people shouldn't lose their trust in money because that's what distinguishes us from animals. Without our trust in money we'll resort to animalistic chaos pretty quickly. As long as we are humans, let's not abandon that trust.

Physical USD is ordinary money which is also often used by many people to buy and exchange it for the goods they want, meaning that in terms of the level of profit there is nothing except the stability of its value in life. Meanwhile, USDT and USDC are tokens or coins that exist in the crypto market to make it easier for their users when they want to buy or exchange them for other coins because both of them still have more pairs in the crypto market. And in terms of keeping it for yourself, I don't think it would be a problem if it was only for a while before everyone exchanged it back to Bitcoin or something else via the market.

Yes and even cash is not a good option to be held long term because even if you have full control of the cash you have in your hands, the government can print more of it and steal from you with the inflation tax, so in that case it is better to minimize as much as possible the assets we hold which can be affected in this way, something that makes me think that once the economy begins to present even more problems, bitcoin will become even more popular as people look for a good asset to hold.

This is the same as people who build their own business, even though the concept is small, it indicates that we ourselves are in control. But talking about wealth is relative and there is always no definite figure regarding wealth because the ratio of wealth will differ from one person to another.

It is not called fake wealth but rather you have assets but do not have wealth in fiat amounts. Fake wealth is more about not having anything but we act like people who have any wealth. Owning land, property, money and shares will put you on the list of rich people, but they are more about assets. If you understand the meaning of these assets, perhaps in the long term land, shares and property will have a good future.

So the fake wealth you are referring to is completely irrelevant in relation to not having money in fiat form. Something that is considered fake because we don't have it is not the narrative you are trying to convey and I think it is wrong. It's up to people how to interpret the meaning you want to convey but in my opinion that is wrong.

True wealth and false wealth can change depending on the situation at hand. In a state of peace, actually owning a business or company, property and real estate is one of the true riches that is always coveted by everyone. Meanwhile, in an unsafe situation or in an ongoing war situation, property and other things that cannot be moved to another place are like fake wealth. but remember when the war is over then we can return to the land we own. As long as the country we live in does not lose the war. Having fiat in hand, gold bars and so on is quite good. Including having bitcoins in our hard wallet. But that doesn't mean it's safe for us to carry everywhere in critical situations. Because these assets are also vulnerable to loss or so on. So basically everything will depend on the situation. And true wealth in my opinion is what we are enjoying right now. Meanwhile, wealth that has the potential to be fake or genuine is wealth that we cannot currently enjoy.

USDT and USDC are even worse to buy and hold because they are something else; they could easily be depegged under any circumstance if the issuance company has the possibility of its value returning to zero, and then again, instead of holding USDT, I will better advise the person to hold a physical USD and save it up on their personal volt; it's safer since there are no differences since it's still the same fiat.

I believe you are talking about war circumstances, where you may need to escape and run for your life at anytime. So by true wealth you mean to have tools which will allow you to survive on short run and which will proportionate safer and faster methods to escape from hostile forces. You are adopting a short run mindset focused on survival goal, instead of long term goals of building wealthy and developing a consistent patrimony.

However, even in critical times, to seek for land and property is a good plan, once you escape from the critical war scenario you are talking about. You have to seek for a protected, fertile and abundant land to settle down. A land full of clean water sources, where you can raise your crops and breed your animals. A place which will allow you to rebuild and begin from zero once again, far from the threats and sufferings from the place you escaped from.

And about the car, keep in mind that without fuel and maintenance it can't be used for anything at all... In a critical scenario like the one you mentioned, I think that is something you should consider in order to conclude if it's really a true wealth or not.

I hope you guys will not kill me with laughs on Bitcointalk. Too many thoughts cause a thing like this but if you are not gifted in creative thinking, the result will always be similar to this. Besides, if your scope of thought is to be thoroughly observed, then there is no wealth for anyone as the food, fiats and precious properties you mentioned as wealth can't always be with you, or you want to be sleeping on them and never let your eyes go off them for once before you know you own and have access to them? That's crazy.

Also, if you don't trust the bank and others for safekeeping but have them abundantly stored in your house for example, you still need security to guard them for you. What if these guards compromised or a natural disaster claims the property in which you stored them? This is why we should not think deeper than necessary, nothing is 100% safe my brother.

As far as I know, though, riches and wealth are not the same thing, and of course, the rich may have more wealth, but still, those who do not have much may have wealth at the same time. Wealth simply means the excess you have that can take you through the future, it doesn't have to be much, immediately sighted or be that controllable by you. So long we have access to it for future use, then we are wealthy of them. Of course, any unforeseen circumstance can happen at any time, and if we think deeply, nothing in this world is spared from that.

Well, I think that he's implying to the literal of what he said. That, real estate is a fake wealth. If so, then all of the rich people in the world are fake rich folks. Because if not 100% of them owns a property and mass real estate for its purpose of investment and appreciation then all of what they do are only for fakeness. But we do know the reality that if all of us becomes rich through Bitcoin, we're pretty sure that we'd diversify it and number one on the list is going to be with real estate.

There's no such thing as fake wealth as you define, maybe they are paper and not liquid, however it is still wealth and the reasons why people are holding it, because of the obvious that they appreciate in time and so it make them more money.

As compare to your definition of true wealth, of course having a good family could be considered as wealth already. But the true definition of wealth is that you have money in your bank, you an sustain your lifestyle, and then you have your investment as the side and you can build generational wealth.

So I guess you really need to re-define your mindset and maybe it's time for you to go back to economic class to reset everything.

Please read a few books about economics and finance and then start posting on the forum.
Being rich and being wealthy aren't always the same thing. Wealth means having assets that bring you financial independence.
Land and property can be sold or rented. It takes time to find a buyer or a tenant, but you will eventually find one.
The money in the bank are under your control(from a legal point of view). You have a contract with the bank and the bank must abide by the rules of the contract(just like you). Stocks and bonds can also be sold. I guess that you are distinguishing a bunch of assets based on their financial liquidity(their ability to be converted into money as fast as possible).
The food in your home has an expiry date. Fiat money are losing their value. I can only agree about precious metals and crypto being part of your wealth. Your wealth can grow only if you keep making the right financial decisions.

In as much as individual decision towards investment matters and it is a personal decision for us to use our money to do whatever we feel like doing with it, I will say that real estate which comprises of housing and landed property are one of the best investment that people can venture into, fiat remains a highly inflationary currency which you have stated already, as such it is not advisable to keep fiat, it is better to use your fiat to acquire meaningful asset thats profit driven in the long, i feel that it is even a deceit to say that fiat is stable although I underetand that but it would have been better to call it an inflationary currency and invaluable currency.
OP fails to give clarity to what is meant by real estate properties being fake wealth, how will someone called a profitable asset a fake wealth, the investments that are in competition with real estate are Bitcoin, gold and some other mineral and natural resources not even fiat itself, as for me I will choose real estate over fiat any day anytime, although fiat is also needed but you must invest or do something before you get fiat.