Status vs Wealth Symbols

[Bitcoin-Forever]

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It will get to a certain stage whereby ignorance will lead to acquiring more liabilities than assets because we don't know the differences, in life you will discover that some are chasing after what will later impose more cost on them to maintain, why some will make use of their idea and invest on a profitable asset that will give them other additional benefits later in the future.

Do we prefer to secure the future today and enjoy tomorrow or start the enjoyment now forfeiting future benefits with bitcoin, are we putting our future at risk or being sensitive of bitcoin opportunities, a simple explanation to what Bitcoin serve as benefits is well explained, when we choose other assets as a sign of luxury for this present dispensation, but leaving the future at risk with uncertainties, or are we after the status they see with us, how do we plan ahead over the future ahead of us with bitcoin and other benefit coming from it adoption.

[CTO114]

Obviously people like to own status symbols to have the prestige of owning them is highly irresistible as opposed to people who decide to won wealth symbols; acquiring valuable assets and having strong financial resources.

I like the angle you're coming from and listing Bitcoin as a wealth symbol, especially when it is owned outrightly by the individual.

The Bitcoin era is definitely introducing new status symbols; early adoption, technical knowledge, self custody skills, running a node and long term conviction during bear markets.
 
The more people seek status, the less wealth they often accumulate!

[hugeblack]

A car, a watch, and a suit are essential items in life, unless you're referring to a luxury car, a $50,000 watch, or a custom-made suit costing thousands of dollars.

In fact, buying things you don't need can be considered a status symbol. Instead of buying a car for over $100,000, $20,000 or $30,000 could get you a decent car, and so on.

[Odogwu-Blockchain]

It's better to be wealthy than be looking wealthy, status looks as if you are wealthy but it isn't because it makes lot of noise and causes distraction. From your illustration, you could see that real wealth is quite, simple, but speaks louder when maintained over time.

It's always painful that many choose to acquire status to oppress, and not stick to the real wealth that nourishes, generates more wealth.

[aoluain]

We can all choose to literally liquidate everything we own in order to buy Bitcoin

or

We can choose to live a frugal life buying only essential items to live in order to buy as
much Bitcoin as we can

or

We can live a comfortable life, make small compromises and put our remaining weekly
disposable income into Bitcoin

or

We can splurge now without thinking of the future and possibly end up being regretful
of that in later life.

I know for sure there are two options I wouldnt engage with and two which I alternate
between, they are the ones which give balance to living now and being considerate of
the future.

[Alphakilo]

The society many of us live in today give praise to those who show off their wealth status and ignore or look down on those who don't.
Bitcoin investment to someone who doesn't work a regular 9-5 job could be a retirement plan, but being healthy to achieve this with a family that is well catered for is true wealth.
We can't ignore expenses but how we spend depends on how disciplined we are, how knowledgeable we are about finances and budgeting, how much risk we can take and how we manage our emotions.

Many of those who can afford these luxury items paid for them from the returns on their investment but others borrow to afford them and that's a distinction.

[rat03gopoh]

But how much bitcoin does one need to own to be considered wealthy? Or since when is bitcoin exclusively for the wealthy?
I would prioritize social connections or relationships over bitcoin as a symbol of wealth.

[suzanne5223]

It will get to a certain stage whereby ignorance will lead to acquiring more liabilities than assets because we don't know the differences, in life you will discover that some are chasing after what will later impose more cost on them to maintain, why some will make use of their idea and invest on a profitable asset that will give them other additional benefits later in the future.

You have a point, but you're wrong nd right.
Because ignorant have led some people into the concept of investing in something that will later require some funds for them to maintain, while some people have reached the stage where they have already invested in something beneficial but want to enjoy some of their investment and hard earned money by gifting themselves something luxurious
Nevertheless, some people buy the luxurious car so they can have a spot at the gathering of millionaires and billionaires for a chance of a business opportunity.

[MRY]

It will get to a certain stage whereby ignorance will lead to acquiring more liabilities than assets because we don't know the differences, in life you will discover that some are chasing after what will later impose more cost on them to maintain, why some will make use of their idea and invest on a profitable asset that will give them other additional benefits later in the future.

You have a point, but you're wrong nd right.
Because ignorant have led some people into the concept of investing in something that will later require some funds for them to maintain, while some people have reached the stage where they have already invested in something beneficial but want to enjoy some of their investment and hard earned money by gifting themselves something luxurious
Nevertheless, some people buy the luxurious car so they can have a spot at the gathering of millionaires and billionaires for a chance of a business opportunity.

Yes, most of the thing misjudge wealth and it is wealth management. Someone who buys a car just to show off doesn't seem to understand the value of money. I believe making use of what one works on a simple manner is more enjoyable. An actual winner does not require luxurious products as a way of fitting in with the upper end of the society and to access new sources of business.