It's true that the cost of things is always heading up, which can happen in stutters and spurts. I personally like to live by the philosophy of taking every opportunity as it presents itself, because you never know if it will be around tomorrow, but understand that such a viewpoint comes only with age and experience - missed plenty of chances for good deals when I was younger. There are still plenty of possibilities out there and easy money on show, but you have to be prepared to seek it out and hustle relentlessly, otherwise you'll miss out. You should definitely try to balance it with a healthy lifestyle - keep fit, see the world, eat well, but be prepared to jump in when good things present themselves or you might end up regretting a lot of missed chances otherwise.
But then how do you know which of the opportunities are worth the hustle and which are merely a distraction? Because the world right now feel like it's full of things requiring for attention. Every single investment, every single side hustle, every "limited time" offer. And the price of being wrong in something is time you don't get back. I think about the people who were doing all this hustling in the wrong direction that ended up burnt out with nothing to show for it. The hustle itself isn't always the solution if it's directed at the wrong target.
You said being sorry for the opportunities you missed when you were younger. Do you believe those were really missed opportunities, or were they just things that were important at the time that were not important now? I'm trying to figure out if regret is a useful teacher or if it's a way to torture yourself about things that you couldn't have known. Sometimes the deal that seemed good back five years ago would have killed you. Sometimes not getting it was the real victory.
Everything has more steps now, more fees,
On the part of fees, the amount of fees we need to pay to process a Bitcoin transaction these days are far less than a couple of years ago. Even with the increase in Bitcoin price, the fee rate is low and it doesn’t mean there are no congestions but, it got better lately.
Being able to save money is more important. Having various income streams is more important. Understanding the way systems work so you can get through them efficiently is more important.
Having various income streams is definitely a way to go but savings doesn’t help very much for an economy that is constantly on the rise with inflation ravaging every aspect of our very existence. Saved money can easily come without worth but, when you invest it, make a stream of income out of it, you keep getting values off it.
I don't believe this is about blaming anybody or waiting for things to change back or anything.
Blaming others is just an excuse for failure and the only place waiting can prove to be of advantage is in hodling, if you aren’t hodling then you shouldn’t wait.
Fair point on the BTC fees I'll give you that one. Network's been smoother running lately and that's actually proof decentralized systems can scale better than bureaucratic ones, when they're built right. About the inflation vs savings thing, I think there's a nuance here. Yeah, holding cash is financial suicide when inflation is running heat. No argument. But "invest it" is one of those things that seems obvious until you try doing it. Invest in what, exactly? Because most people don't have the knowledge/capital to invest in anything and could actually beat inflation after fees/taxes/risk.
Everything has more steps now, more fees, more requirements. The price of participating in the world continues to increase. Not just prices, but the cost of doing normal things, like moving someplace new, starting over, bringing family together, changing careers.
I doubt this is really the case. What makes people think that "everything is becoming more expensive" is mainly the housing cost. But this cost is mainly rising in large cities. In rural areas, in many countries, the housing prices are stable or only rise with inflation. There may be countries with high population increase rate where almost everywhere properties and rents seems to rise. But even in the US you have phenomenons like urban blight, which are caused by the supply exceeding demand in certain areas so much that the market collapses.
So the housing crisis is mostly the result of people concentrating in large cities (and in some countries like the US, in addition, bad urban planning).
"More fees, more requirements" - here I would also like to see examples. In most areas I don't see that many changes. Besides of housing, the only example I can really think of is health, particular retirement homes.
Regarding Bitcoin and crypto, what changed in the last years is mainly the maturing of the market. This means there are less "fast and good opportunities" to make money, like airdrops or easy to exploit business niches. In 2015 you could still have become rich if you catched a single good airdrop or started a single crypto service business. Arbitrage, trading, lending ... everything has been professionalized. But that happens in all mature markets. So if someone makes their living with Bitcoin, it has definitely become harder, but that always has to be expected.
Awesome counter-argument. I will take your own examples to illustrate my point.
You cited the case of urban blight in the US with supply surpassing demand and collapsing markets That's exactly the problem. The economy is bifurcating. Some places have too much demand and the price goes crazy. Other places there is no demand and everything dies. There's no middle anymore. You either pay a fortune to be where opportunity exists or living cheaply in a place that's economically dying. Both situations are costly in their own ways. One costs money. The other costs future potential.
Housing is the most visible symptom, but it's not the illness. The disease is that economic opportunity is becoming geographically and structurally concentrated. Unless you happen to be in the right city, right industry, right network, you are priced out. It is what I mean by expensive. It's not just rent. It's the whole cost of being in a position to actually build something.
Crypto is indeed matured. But maturation means the people who got in early won and everyone else now needs capital to compete. Now you need money to make money like any other mature market. That's not wrong, but it does mean, crypto stopped being the escape hatch it used to be for people who didn't have capital. It became another system where whoever has the resources already, gets rewarded.
So when I say things are getting expensive, I don't mean just prices. I mean cost of entry to anything that counts.
You can still find cheap rent in a dying town. But what's the point if there's nothing to do there? The real cost could be what you give up to afford participation.