Were we just kids or have times changed?

[Queentoshi]

My thoughts went back to the conversations we used to have amongst ourselves while we were kids about how just a million of our national currency could change our life and make us rich. Currently seeing how things are and how a million of your national currency will not be enough to change our economic situation completely and make us rich, were we just being kids then and didn't know much about the value of money, or have things become really bad and times changed that one million of our national currency does not have value as much as it used to have?

[Accardo]

Hitherto, $1m has a huge value for people in the USA same with Euro. Though, it depends on the nation. However, to some persons in the US or Europe a million dollar won't make any change in their lives. Monetary value changes as we grow. As a kid a few thousand is meant to look big as it'll solve your problems and purchase all the toys you like. As we grow we tend to like bigger toys like cars, yatch, bike etc which cost alot of money, upto millions. Change in time affects our needs and wants which affects how money is been valued.

[Kavelj22]

One million in any local currency would be a big number, unless you live in a country that suffers from record levels of inflation, such as Lebanon or Algeria.
But perhaps you are live in one of those countries whose societies do not differentiate between a thousand and a million. I know societies in North Africa that use the word million to express a thousand.

When we were kids, we didn't have big or many requests. Any small amount would be a fortune to us and able to make us happy. At that age, we did not think that we should pay the rent and equipment and spend the money on medicines.

[Merit.s]

In England a million pounds is a huge amount of money at the same time it depends on who has the money. If a business guru is with some millions it is nothing to him but if a poor man or an average man is with a million it might be a huge sum.
In my country where inflation has devalued our currency a million is nothing big only a poor man will see it big. As we grow up fiat currency depreciates, imagine that we are talking about one million Bitcoin... Damn too much funds.
I remember then we are kids when we hear million its so big that we think you can get whatever you want with it or we just call you a rich man.

[coolcoinz]

I consider 100k EUR a life changing amount. It's enough to start a business or buy your own apartment. It's enough to get any education you want including pilot courses and such. 100k allows you to do what you want, with some limits, but we all have our small goals like we want to own a car, or a motorcycle, or a motor boat, or our own place, maybe have our own gym or a fitness studio, a workshop, have enough money to raise a child or travel around the world. Just 100k EUR allows you to do it. 1m is even better if you have that much, I don't think I'll ever have a million EUR at hand, especially not with what's going on with cryptocurrencies today.

[Techkoy407]

My thoughts went back to the conversations we used to have amongst ourselves while we were kids about how just a million of our national currency could change our life and make us rich. Currently seeing how things are and how a million of your national currency will not be enough to change our economic situation completely and make us rich, were we just being kids then and didn't know much about the value of money, or have things become really bad and times changed that one million of our national currency does not have value as much as it used to have?

from my experience, it's because the value of the currency has decreased, and in my country, in the 90s-now the value of the currency has fallen very far, so your thoughts about money first, it may not be wrong, but the price of the currency continues to slumped, so I feel like that money costs very little.

[Majestic-milf]

 Currency devaluation is something that pains everyone now. I remember the good old days where we were all content with the price of goods and services but at present, with inflation hitting the country left and right, even if #1m was given to someone, the money would not last anywhere.

 In my country, the currency has lost so much value that financial institutions are running helter skelter, grasping at straws to at least resuscitate it to a stable state but to no avail.

[jrrsparkles]

My thoughts went back to the conversations we used to have amongst ourselves while we were kids about how just a million of our national currency could change our life and make us rich. Currently seeing how things are and how a million of your national currency will not be enough to change our economic situation completely and make us rich, were we just being kids then and didn't know much about the value of money, or have things become really bad and times changed that one million of our national currency does not have value as much as it used to have?

$1 Million dollar is still a huge milestone to reach but if we compare with a billion its nothing and so on, million dollar can still buy you a lot of things but if you're able to make a million then the next goal will be reaching 2 millions, 5 millions and keep climbing up. And yes the value depreciated a lot due to the inflation over years that is why we are here to see the revolution in the future monetary system which purely depends on demand and supply.

[Savannah99]

A million in childhood is not the same as a million in thirty years. The things that a million people could buy when we were young can’t be bought now. Times are changing, development is getting faster and faster, and we are also changing. The things we want in our hearts are also increasing with our desires.

[BariMade]

Currency devaluation is something that has been happening all the time, but one million dollars is still an astronomical amount for part of it. He can't achieve it with hard work, but it's all about fighting for life.

[rat03gopoh]

I don't think that kids will aspire to be rich with a clear picture, so they won't think much about adult stuff even 1 billion national fiat money. Maybe they just want to spend the money on their short-lived pleasure, instead of thinking about keeping the wealth long term.

Children and adults have their own capacity to define "rich" and yep, it's a matter of time.

[Doan9269]

My thoughts went back to the conversations we used to have amongst ourselves while we were kids about how just a million of our national currency could change our life and make us rich. Currently seeing how things are and how a million of your national currency will not be enough to change our economic situation completely and make us rich, were we just being kids then and didn't know much about the value of money, or have things become really bad and times changed that one million of our national currency does not have value as much as it used to have?

Let's try to understand that things seen afar were actually different from the reality we face the more we are getting closer, our childhood thoughts and expectations tend to change as we grow to discover many things weren't as we had thought they could be in real life, times might have also change because we are getting older each day and this bring to thebtact that we should expect our reasoning tendencies to also change alongside, but how we approach live in general after we have grown enough to identify the good frombthe bad now determines what we want to do by either contributing to the good ideas or watching them happen or get neglected by those things that needs our impact in life.

[JeromeTash]

Hitherto, $1m has a huge value for people in the USA same with Euro. Though, it depends on the nation. However, to some persons in the US or Europe a million dollar won't make any change in their lives. Monetary value changes as we grow. As a kid a few thousand is meant to look big as it'll solve your problems and purchase all the toys you like. As we grow we tend to like bigger toys like cars, yatch, bike etc which cost alot of money, upto millions. Change in time affects our needs and wants which affects how money is been valued.

Change of expectations as we grow a side, to be honest $1m in the 90s or early 2000s was way more valuable than the current $1m, and It was also way too hard to acquire. I think you will agree with me on that.

What we are seeing in real time is the effect of inflation, where money loses the buying power over time.

[Asiska02]

It is exactly as you stated, the currencies have lost their worth. Inflation, corruption, and other factors are influencing the value of money today. Money depreciation is a constant and will continue indefinitely.

To some extent, your level of wealth determines how valuable a specific quantity of money appears to you and how well it meets your needs. A thousand dollars seems different to a rich man than it does to a poor man. The value of money in your eyes is usually determined by one's level of wealth.

[BryaCull]

When I was a kid, I thought one million was a pretty much large number. People would be having a very good life with that much money. Today one million is still a big number but can no longer mean that much purchase power as it were decades ago. Times have changed for sure but that fast. We have to be clear on this point that as we live on, much more difficulties will come and we have to be prepared. There is no way to escape.

[Maestro75]

or have things become really bad and times changed that one million of our national currency does not have value as much as it used to have?

This is the answer. It is not because you looked at the amount with the eye of a kid. Things are now very bad with inflation making our local currency almost useless. Cost of living is very high that there is not much 1million can even buy in my country today. But elsewhere, maybe in the USA, Canada, England that 1million is a huge amount of money.

[MainIbem]

Currently you can't use the past years economy and compared with today's economy because with our NGN devaluation is really a something that is not encouraging and I can't boast about a million of our currency to even serve for at least a year or even for a better business that could yield a good value. So things are really changing and money has no value anymore, although if is a million dollars yes this will serve very well and you would be a millionaire in Naira.

[Alisha-k]

Inflation has affected the economy of Nigeria to a point where earning in millions in Nigeria is useless. As it stands the cost of renting an apartment is almost equivalent to what was used few years ago to build the same apartment. The devaluation rate of this Naira has affected even the cost of local foods and production of locally made products. I wish we get a better leader that can help salvage the economy of the dying Naira

[Gozie51]

Currently seeing how things are and how a million of your national currency will not be enough to change our economic situation completely and make us rich, were we just being kids then and didn't know much about the value of money, or have things become really bad and times changed that one million of our national currency does not have value as much as it used to have?

It was not a kid talk at that time but to the reality of what it was then that before you are able to see such huge amount of money in somebody's bank account, the person must be a known wealthy individual. A million Naira in Nigerian currency then isn't easy to find but the case is not the same now because the currency has been devalued. Inflation has dealt with many economics not only Nigeria but some parts of the world has been down with high cost of living and the currency value is becoming lesser by the day.  In the case of Nigeria, the redesigning of the currency is what the government is trying to portray like it will help to put back the strength of the naira but how realistic is this is what we are still asking.

[Ebede]

Inflation has affected the economy of Nigeria to a point where earning in millions in Nigeria is useless. As it stands the cost of renting an apartment is almost equivalent to what was used few years ago to build the same apartment. The devaluation rate of this Naira has affected even the cost of local foods and production of locally made products. I wish we get a better leader that can help salvage the economy of the dying Naira

You cannot tell me or address a country that the million of people living in to that country is useless I think that is bad way of analysing the earning aspect a country, at least theirs a place that they are good of, which made foreigner to come in into cryptocurrency, i believe that what causes the devaluation of the currency is poor economy management