Bitcoin millionaire lists reasons most will never be rich

[NeuroticFish]

#3  No plan  This item does not need much clarification.

Many look (and follow) athletes, singers, football players and other similar VIPs, which earn huge amounts of money, which invest in many directions and still get poor after not too many years.
And many forget that these people usually have no strong school background hence they can easily get fooled by bad advisors, hence many won't follow the best investment (or cash in) advises.
Also these people are oriented toward entertainment industry and will spend shitload of money for having fun... as long as the money lasts.

Of course there will be a long list of Bitcoin millionaires (or virtual millionaires) that will almost certainly not have an easy and worry free retirement.

[BIT-BENDER]

#2  Outdated or inaccurate ideas of how to make money  He recommends renting rather than buying a house and questioning traditional ideas on how to make money.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 think he is correct on this, their is a traditional way in my country, many who made/stumbled on Money thinks is best to invest/save or make extra money, that is buying land, buying land is good, but this is now overused and the outcome it gave people then is not as now, and currently they wait longer to make little value of the land, but the mentality remains, and any other ideas are, -fake, un-trusted, not valuable-.

[menoiazei]

https://twitter.com/OfWudan/status/1238091998978093056

March 2020 an investor, athlete and youtuber known as Andrew Tate bought $300k worth of bitcoin priced at $5900. And another $300k worth of bitcoin priced at $6100.

He claims his BTC holdings today are worth around $7 million.

Definitely one of the more colorful and outspoken personalities in crypto willing to voice some of the more audacious opinions, its possible he deserves more attention than he receives.

His list of reasons most may never be rich:

https://www.youtube.com/watch?v=KxiYgtxPoG0

#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#2  Outdated or inaccurate ideas of how to make money  He recommends renting rather than buying a house and questioning traditional ideas on how to make money.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.

Anyways definitely one of the more interesting characters out there.

And maybe someone people might learn a few things from? This guy does the stereotypical thing many internet personalities do driving expensive sportscars with a harem of attractive women who live with him in his mansion. That would seem to be the dream of many in 2021. His message of self reliance, action and self empowerment isn't that common today. So I hope there might be something of value here.

How true is all of that!!
Interesting character, respect!!

[nightxglow]

Well i can see that one of the supporting factor that made him like this is the first reason. After experiencing it for a few times, i really understand how crucial it is, to be able to take opportunity in the crisis. Luck may play a big part as well. But, it's understandable, since bracing yourself to take opportunity in the crisis means that you have to be brave and take that big risk. Of course, if it works, you might be able to earn a fortune as well. and i guess, he did a great job at identifying opportunities and making the maximum of them. But for other reasons, it depends though, not really agree with them.

[Twentyonepaylots]

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.

[Kong Hey Pakboy]

#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.

These things are true: people who are not smart in holding their own money often leads to a not really successful financial status. They usually experience problems in managing their own money and now they don't have any security in the future. It is really important to have plans; save, invest, and do all ways that you can to be free of financial crisis. Once we have done that, we may encounter problems in our money, but it will not be problems of scarcity.

[paxmao]

...

#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.

...

Full agreement on the diagnose of this three main points, and I think that these can be summed up as simple unreadiness. if you are ready, you will have a plan, if your are thinking and working the opportunity will meet you prepared and if things go south, you will be able to resist on your strength. There are also a number of good advices that could be built on top, but these remind me of a few well know advices from exceedingly  successful people of different trades:

1) Inspiration exists, but it has to find you working. — Pablo Picasso

2) If you don't find a way to make money while you sleep, you will work until you die. - Warren Buffet

3) “Luck is what happens when preparation meets opportunity.” - Seneca (yep, the Roman guy)

4) "The art of war teaches us to rely not on the likelihood of the enemy's not coming, but on our own readiness to receive him" - Sun Tzu, The Art of War

5) “Without an opportunity, their abilities would have been wasted, and without their abilities, the opportunity would have arisen in vain.” - Niccolo Machiavelli

[Trinx01]

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.

[el kaka22]

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.

[Oceat]

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.

[zanezane]

~

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.

[Yatsan]

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.

[Wawa2013]

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.

[Silberman]

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.

[DNL]

"#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.

[Kittygalore]

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.

[davis196]

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.
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.

[danherbias07]

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.

[amishmanish]

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.

[SquallLeonhart]

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.