Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 7191. (Read 26720873 times)

That is pretty much the only rule you need to follow to be rich. It does not really matter how much you earn. If you spend more than you earn, then you will never be rich. If you save some and try to implement you will sooner or latter see results.

Sleep on it for a few days. You've been running that business for how long? What's a few more days to really think about it or plan to get a good buyer to turn it over to?


As for OG hodlers, some of us here have gone through 90% (or higher) losses, so taking care of any potential future earnings should be manageable. Wealth preservation.

A few simple rules everyone should be doing: Don't spend more than you earn, save or invest the difference, avoid debt.

lately been contemplating about selling my business. after more than two decades it is kind of boring and even the thought of selling didn't get me exited. but then - all of a sudden - it dawned on me that this would enable me to shove some 6 digit fiat amount into bitcoin. not sure if this is reckless, stupid or brilliant.

woah - is this real? gonna order some of those and drill a small hole into the local gas pipeline... 

yes there's a whole world out there

https://www.upstreamdata.ca/datacenters

https://greenidgellc.com/

it is a state owned, globally active, multibillion energy giant. if this works (and I don't see why it shouldn't) it will change the bitcoin mining landscape.


besides the fact that this will make bitcoin hash power grow even stronger, it will also make the case against the "bitcoin-uses-too-much-energy" critique.



digital flare mitigation...  

you heard it here first.  very good find V8

Good morn Bitcoinland.
One one six two six dollars
Bitcoinaverage).

Sideways (slightly up)
OK but somewhat boring-
I need more coffee.

Go go Bitcoin go.
Go Bitcoin go Bitcoin go.
Go go Bitcoin go.


It's hard to get rich
And not get caught up in it.
You must still think poor.

Ignore your new wealth
And spend like you always did
When you were dirt poor.

Scrimp on ev'rything
Keep your spending just as low
As in poverty.

It's never easy
And in time you'll find that you'll
Be spending faster.

Hopefully by then
You'll have saved enough money
And built good habits.

You can start living
Happily ever after.
Don't be n-word rich.

Hookers, Lambos, blow
Are obviously just traps
That keep suckers poor.

My first step would be keeping my mouth shut and emotions in check for fair amount of time. 

All true. They are not used to manage money and many are easy prey for unscrupulous financial advisors, personal bankers, etc. Also, many decide to be excessively generous with other family members etc... or, as you say, decide to start/buy business without having the slightlest idea of how to manage one and, what is even worse, employing family members thus creating a totally unprofitable sink hole that they are afraid to stop on time.

That way, and even without ever going into a lambos, hookers and coke spending spree, maybe even before substantially changing their life they find themselves bankrupt (sometimes without being aware of it until years after the fact).

Preserving/increasing wealth is a job in itself that requires some skills and dedication, otherwise easy comes easy goes.

That being said, I don't think the average OG Hodler would easily fall into above mistakes...

A co worker at my wife's job won two lotteries in one month. 2 MILL AND 7 MILL

he ended up divorced and working as an airport security guard.

The job he quit paid 110k the airport job was less then 1/2 that. It took under three years for the money to be lost.

Money wont change the essence of the person, at best/worst it will amplify it.

If someone is already an asshole, in all likelihood they just become a rich asshole.

(that was quote I heard on here pre-2013 btw)

I think one thing that sinks lottery winners is that it the total cost of ownership of any item far exceeds the mere purchase price. Big houses cost a lot of money over time for upkeep/maintenance, as do Lambos. Rich people budget for this, flash rich people buy big houses for their family members then start getting hit up for repairs, maintenance, etc. Or they buy a "business" that needs a lot of capital that you shovel in because.... well you bought it.

Something to think about.

yeah never forget where you came from, you could find yourself right back to where you started. in my case being poor back in the day. paycheck to paycheck? that was paradise, i usually was out of money a day or two after payday.. dark times and mainly my fault.

being poor gives a pretty good perspective on finally having enough money to not worry too much about your next meal (or your next lambo perhaps).

mental health is a tough thing to self judge, after all how do you judge the state of your brain when your brain only can see whats interpreted and filtered (or even altered in many cases) through itself. if you cant trust your own brain.. well i cant see that being much fun at all.

edit: i may of screwed the quotes up

Simple:
1. Make some of your biggest dreams come true.
2. Otherwise continue to live your life "normal"*

*maybe to new living standards, though.

I'd get some land, a stable and some horses, a small skatepark and independent energy source(s) for my home, maybe a foreign place for holiday and run/hide purposes.
No supercar(s), no castles, no seasteads, no bling, no hos, no blow. Wait... a garden of weeden, maybe. yeah, i guess 

Stack those sats !!

But recently or a few years back?  (Losing 10 coins?)

Anyone who does well out of Bitcoin will have been tormented for several years before benefiting. It won't have arrived out of nowhere. That's a very different launchpad compared buying a scratchcard on your way to picking up some chemicals for the meth lab.

Years will have been sent delaying gratification (not 'high time preference' which is a phrase that needs a shotgun blast in the perineum) and that's a lot of time to refine some discipline.

It wont change me. Now blow some more coke up my arse damnit jeeves

Yeah, this is a valid concern for many of us... I've heard of people who won the Lottery (several $M) and two years later they were penniless and owing to banks...

I think it's up to the individual, his character and attitude towards life. Personally, I feel it won't change me or affect my mental state etc., but no one really knows until he gets into that "fuck you rich" state. We'll know soon enough. 

source? or it didn't happened! 

Seems to me that fuck you status is going to be characterized by BTC HODLers differently, but in reality, with fuck you status there should be some kind of ability to have options that were not available prior to reaching such status - so sure you could still choose to work and to live something similar to your previous life style, and sure you could choose NOT to live with conspicuous consumption.... including having concerns that you would still need to be able to manage your wealth, but many people who earn their own wealth have fewer problems in managing such wealth than if it were given to you too easily.. and sure maybe some of us BTC HODLers might come across our wealth too quickly (and I think that might be the problem that you were alluding to),  which causes us some losses in confidence regarding whether we will be able to manage our new status easily.. and of course, there can be a lot of new decisions regarding protecting wealth by reallocation into other assets or just safe guarding our private keys in ways that our coins might NOT all be in one spot (or even too many coins in that are not sufficiently in cold storage balanced with an ability to access the coins too... don't want the coins to be so far into cold storage that we forgot how or lost the ability to access them).

And, sure some charity might be good for karma but also good for the community / infrastructure overall.

I am not going to proclaim that it is likely to be a cake walk, even when you might believe that you have done quite a bit to prepare already....