Bitcoin millionaire lists reasons most will never be rich

[dothebeats]

People that are new to the game would certainly learn a thing or two from this man. Identifying opportunities is definitely one of the hardest thing a newcomer to crypto would encounter. Without prior knowledge on stocks and other assets, it would be pretty hard to discern whether or not the price is good. Once the newbies got burned once, they'd surely never try again, instead of using these as a learning experience through which they can benefit from in the future.

Or I can say that he's just at the right place at the right time, but I digress. It seems that Tate knows how the market goes, so pulling off that purchase is a no-brainer for him.

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[angels2apples]

Lol so does he rent his mansion? or he just owns property and tells people to rent lol.

[tygeade]

People only ready to buy assets on highs, that the problem of newbies, thats why they can loose money even on bull market

buying in a bullish time is a bad thing...
assets that have high volatility such as cryptocurrencies must have the timeliness to buy it. buy when the market is bullish because FOMO is bad luck. This is the reason why newbies will always lose.

No, buying during a bullish market is more worth it, if you buy at the right time. Like bull run started for bitcoins and someone who bought at $20k cannot be classified as a mistake. The problem is when we invest or buy coins during the end phase of a bull run but that's the dilemma, we never know what is the start and end of a bull run.

Buying during a bear run sounds good but has its own problems because during a bear run any coin can go down and some might even vanish from the market if things don't improve. Not every coin has the capability of bitcoins to jump back where it was earlier, no matter how bottom it has gone. You see how much pumping dogecoin took to get lifted and bitcoin has no such promoter like Musk but still continues to grow.

The ability to invest at the cheapest and sell at the highest point is what makes one rich and vice versa can make you poor.

[SquallLeonhart]

People only ready to buy assets on highs, that the problem of newbies, thats why they can loose money even on bull market

buying in a bullish time is a bad thing...
assets that have high volatility such as cryptocurrencies must have the timeliness to buy it. buy when the market is bullish because FOMO is bad luck. This is the reason why newbies will always lose.

That has been said a million times but unfortunately it has always been wrong in an ever increasing product. People think that "buying bitcoin when it is high is a wrong move" and said that a lot, but what is "high" in bitcoin?

When it reached over 15k people said it was high, when it went over 20k people sold a ton, you should have seen the correction, because people said it was high and can't go any higher, when it reached 41k and dropped to 28k just two months ago, people went crazy and said it was over and the whole bull run will turn to bear run, and when we had the most recent high and went from 56k to 43k people got out like crazy, that was always the case for them because some people think it will not go any higher but it always does. Buy bitcoin whenever you can, at any time, at any price, it will go up, maybe it will go down for a while, maybe it will be low, who knows? But it will eventually go up, it always goes up in the end.

[jaysabi]

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.

Does he actually provide any proof he made these moves other than just some tweet yelling into the internet?  Honestly just looking at his twitter profile and the website he links to, he looks like a scam artist.  The profile is all bluster and posturing, nothing of substance, and the same with the website where's he's offering to "teach" you how to be as successful as him.  My man, people who are actually as successful as he claims to be don't need to hustle their "expertise" for a fee.  He's trying way too hard to convince people he's rich and successful to actually be rich and successful.  Lol, his website says "Get money. Get women. Get fit."  Whole thing looks like a scam.

[Oilacris]

#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.

All of the three things that had been mentioned then number #1 does really have the impact or should really be taken off seriously by most people on where opportunities is really present
mostly in times or crisis.It is just our emotions is really a hindrance for us to do specially if the emotion around is enveloped out by fear and anxiety.

Humans are way too emotional and if they do follow out on what they do feel most of the time then most likely you would really be missing out these kind of chances.

To those who had actually took up some risk on buying out in the market without minding much of the risk did really pays off when bitcoins market had really able to reach out heights.
Imagine on how much they had allocated for bitcoin investment and thats a risky move to say on that time but it did really paid off.

[Silberman]

People that are new to the game would certainly learn a thing or two from this man. Identifying opportunities is definitely one of the hardest thing a newcomer to crypto would encounter. Without prior knowledge on stocks and other assets, it would be pretty hard to discern whether or not the price is good. Once the newbies got burned once, they'd surely never try again, instead of using these as a learning experience through which they can benefit from in the future.

Or I can say that he's just at the right place at the right time, but I digress. It seems that Tate knows how the market goes, so pulling off that purchase is a no-brainer for him.

Identifying opportunities is always hard but the main problem of people is that they have no money to take advantage of those opportunities in the first place, at least where I live almost no one has savings, it is simply not part of the culture, people spend all of the money that they get and this means that when an opportunity shows itself they have no way to take advantage of it, this is why I have always thought that those that do not have the habit of saving have no chance of ever becoming successful no matter how much knowledge they have.

[uelque]

We are all here because in the first place we identified an opportunity. Yet not most of us here are rich or at least wealthy enough. Why? Because unlike him, we're not rich, we can't afford to lose even a small sum of money in a certain investment. Most are struggling in their daily lives yet you expect to put their money in an investment wherein they can use it to support their daily expenses.

And I guess it's true, those outdated way of making money is true, but what if you don't have a choice? because they're not as wealthy as you.

But I agree to the third one, if you don't have a plan, you can't go anywhere. But I believe every one has a plan here, some just simply doesn't work.

I came here in bct as a student, having no sum of money at all, luckily someone guided me during my first journey here, and now I am doing it on my own. I had identified an opportunity, invest and learn, because I don't have anything to worry about. And not all people are as lucky as me or him. Btw, I'm not rich, just simply having enough.

Lack of resources, lack of choice, lack of a wise plan and lack of people who will guide them for me are the main reasons why most are not going to get rich. That's my opinion.

[oHnK]

People that are new to the game would certainly learn a thing or two from this man. Identifying opportunities is definitely one of the hardest thing a newcomer to crypto would encounter. Without prior knowledge on stocks and other assets, it would be pretty hard to discern whether or not the price is good. Once the newbies got burned once, they'd surely never try again, instead of using these as a learning experience through which they can benefit from in the future.

Or I can say that he's just at the right place at the right time, but I digress. It seems that Tate knows how the market goes, so pulling off that purchase is a no-brainer for him.

Identifying opportunities is always hard but the main problem of people is that they have no money to take advantage of those opportunities in the first place, at least where I live almost no one has savings, it is simply not part of the culture, people spend all of the money that they get and this means that when an opportunity shows itself they have no way to take advantage of it, this is why I have always thought that those that do not have the habit of saving have no chance of ever becoming successful no matter how much knowledge they have.

For me, we can achieve opportunities for profit by working smart and always learning. The more diligently you read books, study the environment and pay attention to every issue that develops, then I am sure that you and I will get the opportunity to benefit as well as learning from that experience is the best teacher. But people who find it difficult to get opportunities and see opportunities are people who are half in learning something because in learning new things and seeing if it has good potential in the future is to fully understand.

[TedMosby]

but he said, "Remember this tweet when it’s at 8,000."
possibly he already set a price target for that. I believe he already sold some.

he looks arrogant, but I like the way he talked. It energized me
- identify the opportunity, crisis and opportunity is the same thing.
- nobody cares about the old dude in the Lambo, but they care about the young dude in the Lambo.

nice intro on that video tho.
I've bookmarked his video too.

[The Sceptical Chymist]

His twitter is rather interesting however, am no fan of it, but got to say mans got steel balls to invest like this.

Indeed, and it seems to me that those who've had such clanging brass balls when it comes to investing in crypto have made a fortune, including companies like Tesla and MicroStrategy more recently.

Makes me wonder if it would still be wise to go all-in at today's prices.  The reason why this guy made as much as he did was because he bought when things were looking kind of bleak, not when the bull market was raging (as it is right now).  And man, I wish I knew the answer to that!  All I know is that investors have gotten seriously burned when they buy something when prices are high--and obviously bitcoin is making new ATHs constantly at the moment. 

But eh....my goal was never to become rich through bitcoin.  If that were true I would have bought heavily in 2015-16 when I first got into it or even in 2018 as prices were sliding downward.  Maybe that was a mistake on my part, but I'm cool with that.  Money isn't everything.

[jostorres]

We are all here because in the first place we identified an opportunity. Yet not most of us here are rich or at least wealthy enough. Why? Because unlike him, we're not rich, we can't afford to lose even a small sum of money in a certain investment. Most are struggling in their daily lives yet you expect to put their money in an investment wherein they can use it to support their daily expenses.

And I guess it's true, those outdated way of making money is true, but what if you don't have a choice? because they're not as wealthy as you.

But I agree to the third one, if you don't have a plan, you can't go anywhere. But I believe every one has a plan here, some just simply doesn't work.

Well, the "I do not have enough money" part can be fixed with one thing, I have always done that and will keep doing that until I retire : Put 10% of your salary into crypto right away.

I know that some people barely can survive, hell even make debt to survive but believe me 10% of your salary is in your pockets or in savings account will not change your life drastically, I can promise you that whatever problems you have, whatever financial situation you are in, just because 10% of your salary gone will not suddenly become huge, we already do not earn that much anyway, if we did then we wouldn't have money problems, which means we can put 10% into crypto.

That way eventually after certain years you start to have a decent amount, I didn't put even 1k into crypto yet and still have few thousand, why? Because, bitcoin increases like crazy and it will happen again in the future as well.

[uneng]

We are all here because in the first place we identified an opportunity. Yet not most of us here are rich or at least wealthy enough. Why? Because unlike him, we're not rich, we can't afford to lose even a small sum of money in a certain investment. Most are struggling in their daily lives yet you expect to put their money in an investment wherein they can use it to support their daily expenses.

And I guess it's true, those outdated way of making money is true, but what if you don't have a choice? because they're not as wealthy as you.

But I agree to the third one, if you don't have a plan, you can't go anywhere. But I believe every one has a plan here, some just simply doesn't work.

Well, the "I do not have enough money" part can be fixed with one thing, I have always done that and will keep doing that until I retire : Put 10% of your salary into crypto right away.

I know that some people barely can survive, hell even make debt to survive but believe me 10% of your salary is in your pockets or in savings account will not change your life drastically, I can promise you that whatever problems you have, whatever financial situation you are in, just because 10% of your salary gone will not suddenly become huge, we already do not earn that much anyway, if we did then we wouldn't have money problems, which means we can put 10% into crypto.

That way eventually after certain years you start to have a decent amount, I didn't put even 1k into crypto yet and still have few thousand, why? Because, bitcoin increases like crazy and it will happen again in the future as well.

Actually what you mentioned is related to the main reason why most people will never be rich: they aren't able to save even 10% of their wages monthly. We live in society where consumerism is promoted daily everywhere. Most minds absorb this content and act impulsively in an attempt to stay relevent on this society. So people need new clothes, shoes, accessories each new year at least, otherwise people have issues with their self-esteem.

Look, even this guy on the video boasting his luxurious life is a propaganda which incentives weak minded people to acquire those same things, with the difference he has money to afford that, while the vast majority of his public doesn't. And instead of saving money monthly, people prefer to stay in debt, eternally searching for tiny aspects of someone else richest's life for themselves.

[TheNineClub]

#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.

#1 - The opportunity does not present itself all on its own, but it is in most cases presented to you. It comes by being with the in-crowd so to speak. And no, I am not talking about insider information but just being present in a certain environment where the opportunity is presented. Also, non-rich people tend to be more hesitant about investing their hard-earned money that they do not have to spare, and sometimes that is misrepresented as not identifying opportunity.

#2 and 3 - definitely a lack of knowledge about investing. People want to know a little as possible and get out of it the most possible. It's weird.

[iv4n]

#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.

#1 - The opportunity does not present itself all on its own, but it is in most cases presented to you. It comes by being with the in-crowd so to speak. And no, I am not talking about insider information but just being present in a certain environment where the opportunity is presented. Also, non-rich people tend to be more hesitant about investing their hard-earned money that they do not have to spare, and sometimes that is misrepresented as not identifying opportunity.

#2 and 3 - definitely a lack of knowledge about investing. People want to know a little as possible and get out of it the most possible. It's weird.

Some say the more active you are, the more chances you will have! If you just sit and wait for chances to fall in your lap, maybe it will not happen!
I think there's no recipe for success, except that you need to know what you are doing in general, to have some skills, patience, will to learn, and to adjust... but in the end, it all comes down to some moments when you either make a good decision or not! You either take the opportunity or you miss it... and do you take it or miss it depends on how brave you are, are you willing to risk or not!? And it's what comes down to all of us when the moment comes will you risk and try, or will you pass it?!
Everything depends on us and our choices in crucial moments! Don't let anyone tell you otherwise!

[Vaskiy]

but he said, "Remember this tweet when it’s at 8,000."
possibly he already set a price target for that. I believe he already sold some.

he looks arrogant, but I like the way he talked. It energized me
- identify the opportunity, crisis and opportunity is the same thing.
- nobody cares about the old dude in the Lambo, but they care about the young dude in the Lambo.

nice intro on that video tho.
I've bookmarked his video too.

Nice intro on video... Ha ha ha 

The video was full of energizing statements. However it is the search of chances, and the same has been successful for him. Another thing it has happened for him in a short time period. This doesn't happen with every user, so we need to make our own efforts and plans taking these personalities as reference.

[Silberman]

We are all here because in the first place we identified an opportunity. Yet not most of us here are rich or at least wealthy enough. Why? Because unlike him, we're not rich, we can't afford to lose even a small sum of money in a certain investment. Most are struggling in their daily lives yet you expect to put their money in an investment wherein they can use it to support their daily expenses.

And I guess it's true, those outdated way of making money is true, but what if you don't have a choice? because they're not as wealthy as you.

But I agree to the third one, if you don't have a plan, you can't go anywhere. But I believe every one has a plan here, some just simply doesn't work.

I came here in bct as a student, having no sum of money at all, luckily someone guided me during my first journey here, and now I am doing it on my own. I had identified an opportunity, invest and learn, because I don't have anything to worry about. And not all people are as lucky as me or him. Btw, I'm not rich, just simply having enough.

Lack of resources, lack of choice, lack of a wise plan and lack of people who will guide them for me are the main reasons why most are not going to get rich. That's my opinion.

Like most of the time becoming a millionaire is a combination of factors, as you say even if you are smart enough to tell that you have a great opportunity in front of you, you have no way to take advantage of it without money, however this is important even if you are unable to take advantage in the best way possible when it comes to bitcoin the fact you have identified the opportunity means that you could do so again which means you need to try to save as much money as possible so you can now take advantage of that new opportunity when the time comes.

[cyriljundos]

yes , i definitely cant afford to lose money also. if richest people invest in bitcoin $300k-$1M they dont worry that much because they have sources of income aside from investing in bitcoin. just like us we cant afford that our investment would be lost. just be smart in buying bitcoin and other alternative coin.

[ven7net]

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.

I see it this way. Everyone who is lucky to earn big money begins to think of himself as a great professional, although he was just lucky. Yes, he now has a lot of money and he can distribute advice and perhaps some of them really deserve attention, but not everything is so simple. He still has to go through the path of retaining this wealth, and then increasing, if, of course, he does not lose his funds. Making money is only halfway there and everyone cannot be rich.

[AicecreaME]

#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 have to disagree about this.

Owning a house is much better than renting it if you're a person who stays in just one place for good and only travel for leisure activities such as vacation or unwinding. Owning a house is a practical way to save money, because you can't be sure how long you'll have money or job so you can pay the rent, while having a house means you can sleep well at night not thinking about getting kicked out because you can't pay the rent anymore.

Owning a house is a good investment in the long run in my opinion rather than renting.