Hard work does not guarantee wealth but yes where you store the value.

[Leahized]

As human who needs to eat and pay bills, putting all your money on bitcoin will only make you to sell your bitcoin below the price you bought it anytime you need to solve any of your expenses, and just practice could force you to sell all your bitcoin. Since bitcoin is volatile in nature and it's not a quick to get rich scheme, it's advised you invest in bitcoin with discretionary income it will allow you to hold your bitcoin for the long term.

Since investing in bitcoin can lead to market changes at any time, it should be done literally without any loss. So that one does not have to sell the saved bitcoins during a crisis. Since most of us do not have two or more sources of income, it is advisable to separate emergency funds from earned money. According to this statistic, investment in crypto will continue.

Moreover, we have developed a mindset that makes us unable to accept any loss. Therefore, one should be 100% sure before making any decision. So that it does not create anxiety in the future and allows for continued long-term investment.

[tabas]

I am not disagreeing with what you have said but I've seen those folks who have became rich with bitcoin alone. They have been one of the earliest and also took risk during that period. And so, even if they didn't diversify a lot, they've made their riches through it and right now they're the ones who are diversifying from the profits they have made from Bitcoin. While getting rich takes time and we know it, I'm okay with reaching it in the slowest way that it can be. I'm currently building assets and although I am not that type of person who have stayed to be reliant to bitcoin alone, but at some point of my life in the past, I did.

yep, some people did become millionaires with bitcoin alone. what's even more surprising is that some of them started with very little capital.

but how many people actually pulled that off? and realistically, bitcoin is not going to pump millions of time over again like it did in the early day. so that idea just does not really work anymore.

bitcoin can still help you build and grow your wealth. but leaning on it alone, with a small monthly paycheck as only fuel isn't a realistic way to get rich. i know that sound harsh but its truth, and we have to accept it.

I agree, it won't be the same this time compared to the early investors. But what we're saying is that, if it's about bitcoin alone, it's still an effective strategy in investing. Although we know that everyone wants to be wealthy, people will find ways on which one is going to effective for them. And if I am that person who earns a little which I do, I'll not stress myself out in finding those assets and investments that will grow tremendously because it will take time and might need a trial for how it will be. My strategy is that, will choose bitcoin amongst them all.

[Davidvictorson]

Everybody in this forum already discussed why hard work does not guarantee wealth. The problem is not only in our effort, is where we store the money. If you work and save fiat money, goes devaluing with the time and losing its purchasing value without you notice. Does not matter how much you work and store your money. The currency with fixed supply, like Bitcoin, inverts this logic to work in your favor, because the supply does not increase and does not lose value. The volatility of Bitcoin is a problem for who needs know what will happen in the short term. But thinking in the long term the problem is store money in the wrong currency?

Hard work guarantees wealth if the individual set smart goals.
There is no wealthy business person I know or have read of that doesn’t work ten times more than their employees.
Think Jeff Bezos , Elon Musk, Sam Walton, and many others.
Don’t the surprise that most of these folks don’t consider bitcoin as a good store of value for their wealth because they have more options and know how money works.

[Natalim]

Putting in bitcoin alone won't still guarantee wealth especially that bitcoin is highly volatile. But if you resort into diversification, like investing in gold, stocks or real estate, that will definitely guarantee wealth provided that you made huge profits from your multiple sources.

The essence of where you put or store your money matters a lot that's why you have to be cautious on where your funds are going, make sure you are putting them in long term investments, not short ones.

[abhiseshakana]

Putting in bitcoin alone won't still guarantee wealth especially that bitcoin is highly volatile. But if you resort into diversification, like investing in gold, stocks or real estate, that will definitely guarantee wealth provided that you made huge profits from your multiple sources.

The essence of where you put or store your money matters a lot that's why you have to be cautious on where your funds are going, make sure you are putting them in long term investments, not short ones.

My most productive asset right now is my business. The one that is a little risky, my income depends on the success of my business. So my investment diversification strategy aimed to protecting my family's lives, building long term wealth nd the last hoping to pass on assets and financial foundation to my kids. The first thing I always do separate personal assets from business assets, so that the family's entire wealth is not concentrated in a single economic source.

Broadly speaking, I divide my finance to be three post which is Business capital, i use it for working capital, operational funds, business development, and business reserves. Family protection fund, including emergency fund, education funds, healthcare funds, and Hajj savings. The last are family investment portofolio, which actually I built from business profits, then I bought long term asset.

Because my business need liquidity and stability,  I still keep my assets in the form of cash. I also keep small portion of emergency fund on cash saving. Other i put on gold even it can not create cash flow but gold protects long term wealth. I also put my asset on bitcoin for long term growth potential but as head of family with three children and an income dependent on a business, I can not make Bitcoin the majority of my financial wealth. The largest portion of my investment is in property, specifically rice fields which generate cash flow and tangible assets.

[#CapsLOck]

Everybody in this forum already discussed why hard work does not guarantee wealth. The problem is not only in our effort, is where we store the money. If you work and save fiat money, goes devaluing with the time and losing its purchasing value without you notice. Does not matter how much you work and store your money. The currency with fixed supply, like Bitcoin, inverts this logic to work in your favor, because the supply does not increase and does not lose value. The volatility of Bitcoin is a problem for who needs know what will happen in the short term. But thinking in the long term the problem is store money in the wrong currency?

Hard work guarantees wealth if the individual set smart goals.
There is no wealthy business person I know or have read of that doesn’t work ten times more than their employees.
Think Jeff Bezos , Elon Musk, Sam Walton, and many others.
Don’t the surprise that most of these folks don’t consider bitcoin as a good store of value for their wealth because they have more options and know how money works.

There are people who work very hard and very smart and make smart goals. And this helps their financial situation. But I don't think they ensure wealth. Despite the success of their companies. Risks are still present and wealth is not only generated from the hours spent working. But also from the business growth and investments they have made as owners. The same goes for Bitcoin. As there is no guarantee that the limited supply will ensure a profit. I believe it is important to know how to make money. To manage the money and to maintain the money and to select investments that fit our financial requirements and risk tolerance.

[drangos]

I believe the key word is here is preserving versus building purchasing power. While limited supply ensures that Bitcoin's value has a chance of rising, there is no guarantee that it will. And money saved in fiat is subject to inflation. BTC can lose value over the years as long as someone has been holding it, and it is possible to incur significant losses based on when an individual begins trading and exits the market. Meanwhile, holding all savings in cash carries with it its own risk. My aim is to make regular income. Have enough money in liquid funds for emergencies and put into long-term investments what I can afford. Saving requires hard work. And the way we will use the money earned is governed by our financial decisions. Where we keep our money is important. But so are our time horizon, risk tolerance and tolerance to losing money.

[Obim34]

The essence of where you put or store your money matters a lot that's why you have to be cautious on where your funds are going, make sure you are putting them in long term investments, not short ones.

It’s either you want to store value or reinvest into something else.

The majority of wealthy people, do not store value, they always have their profits working for them, either starting up another business or investing into assets that will grow over a period, no sensibly wealthy person keeps money sitting in the bank, or buy assets that will not appreciate over a long period.

We have many wealthy people who never bought Bitcoin or any digital assets, when it comes to wealth creation, there are levels to what we know, and areas to get involved.

[DPHOR]

Hardwork as believed before now was seen as a means where people outdo themselves in other to secure wealth, future investment or financial stability.
But today the reverse is the case. Most individuals may have worked hard with nothing to show for, because instead of planning and investing on means to yield better profits, they resulted to merely spending what is at hand with the hope of getting more later, which may not always be favourable in most cases.
And yes, while one seeks to get value for the money which they already have, it’s preferable research are been carried out to be certain of what he/she can handle and not necessarily give away all at hand since risk must be considered.

In essence, the combination of hard work and smart work will lead to better value of whatever one has at hand in the long run.

[uneng]

But thinking in the long term the problem is store money in the wrong currency?

Yes, if you store your money in fiat currencies, you will lose purchasing power within time. And even if you invest that fiat currency through traditional banking investments which pay interest, there are still serious chances you are going to stay behind real daily inflation, so keep in mind that storing money in fiat currencies is only worthy on short run, for small amounts of money and when you don't have another alternatives where to invest.

The best to do is to accumulate a big sum of money and then convert it into something solid and valuable, like a property, for an example.

And in case you intend investing in BTC, make sure you are prepared to hold it for few years, if necessary, considering the context and fluctuations of the market.

[Orpichukwu]

Everybody in this forum already discussed why hard work does not guarantee wealth. The problem is not only in our effort, is where we store the money. If you work and save fiat money, goes devaluing with the time and losing its purchasing value without you notice. Does not matter how much you work and store your money. The currency with fixed supply, like Bitcoin, inverts this logic to work in your favor, because the supply does not increase and does not lose value. The volatility of Bitcoin is a problem for who needs know what will happen in the short term. But thinking in the long term the problem is store money in the wrong currency?

You make your investment advised around Bitcoin because of its limited supply. I can give credit to Bitcoin for what it can do to our money over saving it in a local bank account, but that’s not the only asset which the people can invest in and gain wealth over time.

Most of the wealthy people we have out there did not make wealth investing in Bitcoin, but they made it by learning how to make the right decision, being problem solvers and offering the service of what the masses need using that money to invest in something that can bring in more monetary value.

[Crypto_Timothy]

Everybody in this forum already discussed why hard work does not guarantee wealth. The problem is not only in our effort, is where we store the money. If you work and save fiat money, goes devaluing with the time and losing its purchasing value without you notice. Does not matter how much you work and store your money. The currency with fixed supply, like Bitcoin, inverts this logic to work in your favor, because the supply does not increase and does not lose value. The volatility of Bitcoin is a problem for who needs know what will happen in the short term. But thinking in the long term the problem is store money in the wrong currency?

This conversation depends on the county you're thinking about when you made this point, at least that's what I think and  I do get where you're going with storing your money in Bitcoin but let's be frank if you save your $100 in Bitcoin and just leave it, you're not going to get wealth, especially if you're not looking at a very very long time, so where the currency is stored isn't what gives you wealth. Wealth is not something stored, it is something that generates income on a daily everyday, to me that's wealth. Like if your money is just stagnant whether you save it in any currency, it will not give you wealth at all.

[Jostern]

Putting in bitcoin alone won't still guarantee wealth especially that bitcoin is highly volatile. But if you resort into diversification, like investing in gold, stocks or real estate, that will definitely guarantee wealth provided that you made huge profits from your multiple sources.

The essence of where you put or store your money matters a lot that's why you have to be cautious on where your funds are going, make sure you are putting them in long term investments, not short ones.

However I believe there are people who bitcoin have made wealthy, there are also people who have invested in bitcoin and still diversified to other businesses or making other investments in stocks or gold, probably Real Estate investments’ there are different forms of diversification, in a normal sense Bitcoin doesn’t guarantee you anything, there is absolutely no guarantee of success in Bitcoin, but there could be a chance if you decides to approach bitcoin investment with long term.

When you gave all options that can guarantee wealth, I’m wondering if anyone that does this things are going to be guaranteed success, I don’t know if success is guaranteed in Real Estate, Gold, Stocks, anything can happen while investing, however you need a certain amount of big money to invest in what you’ve mentioned, how about people who doesn’t have money to venture into such business or diversify, what do they do to be successful.

[Ever-young]

Everybody in this forum already discussed why hard work does not guarantee wealth. The problem is not only in our effort, is where we store the money. If you work and save fiat money, goes devaluing with the time and losing its purchasing value without you notice. Does not matter how much you work and store your money. The currency with fixed supply, like Bitcoin, inverts this logic to work in your favor, because the supply does not increase and does not lose value. The volatility of Bitcoin is a problem for who needs know what will happen in the short term. But thinking in the long term the problem is store money in the wrong currency?

You have a point actually, I mean where we store money is a factor but then, it is not the problem niether does it guarantee wealth.
The main issue is how we get the money and the self discipline we put in to build wealth. There are many mediums to store assets, it is not limited to currencies and digital assets only.
But talking about fiat and bitcoin, in where I come from, both are very important medium. Diving down to long and short term, if am to compare, bitcoin is better for longterm just like fiat is better for short term. But the short remains transactional because it takes continuous availability of fiat to successfully stack up Bitcoin.

But one thing I will definitely object is that where you store it doesn’t guarantee wealth, it’s just a factor.

[eightdots]

Putting in bitcoin alone won't still guarantee wealth especially that bitcoin is highly volatile. But if you resort into diversification, like investing in gold, stocks or real estate, that will definitely guarantee wealth provided that you made huge profits from your multiple sources.

The essence of where you put or store your money matters a lot that's why you have to be cautious on where your funds are going, make sure you are putting them in long term investments, not short ones.

However I believe there are people who bitcoin have made wealthy, there are also people who have invested in bitcoin and still diversified to other businesses or making other investments in stocks or gold, probably Real Estate investments’ there are different forms of diversification, in a normal sense Bitcoin doesn’t guarantee you anything, there is absolutely no guarantee of success in Bitcoin, but there could be a chance if you decides to approach bitcoin investment with long term.

When you gave all options that can guarantee wealth, I’m wondering if anyone that does this things are going to be guaranteed success, I don’t know if success is guaranteed in Real Estate, Gold, Stocks, anything can happen while investing, however you need a certain amount of big money to invest in what you’ve mentioned, how about people who doesn’t have money to venture into such business or diversify, what do they do to be successful.

Investing at the right time is crucial because it yields higher returns. Diversifying investments and generating returns from such a portfolio can also help individuals achieve their goals. The key lies in knowing how to invest; however, having the patience to wait for the right moment is often one of the most challenging aspects for an investor. Investing at the right time also opens up a wide range of possibilities; given the variety of available investment instruments, entering the market at the opportune moment can lead to gains that even surpass your initial objectives.

Making these investments requires capital, and while it is possible to grow your money through the right investments, this process inevitably entails risks. Thorough research and investing at the right time are essential.

[Jaweria parveen]

We are taught wrongly, sometimes we are attributed to hard work and sometimes we are mixed with luck. Hard work is for our future, not for success because there are many people who have worked hard and worked day and night for themselves but have not succeeded. Not every person succeeds through hard work, hard work makes us strong, it is the last hope of our dream which we can fulfill by doing it. As we work hard, we should save some money from our needs so that we can use it the day you need it. Because every day is not the same, sometimes your hard work gives you a lot and sometimes your hands are empty. Therefore, we should not always disappoint ourselves with hard work so that we will not be able to achieve anything except hard work. A worker works hard but he does not increase his wages, this is where his hard work will not become success for him.

[ChocolateBitcoinK]

As human who needs to eat and pay bills, putting all your money on bitcoin will only make you to sell your bitcoin below the price you bought it anytime you need to solve any of your expenses, and just practice could force you to sell all your bitcoin. Since bitcoin is volatile in nature and it's not a quick to get rich scheme, it's advised you invest in bitcoin with discretionary income it will allow you to hold your bitcoin for the long term.

Since investing in bitcoin can lead to market changes at any time, it should be done literally without any loss. So that one does not have to sell the saved bitcoins during a crisis. Since most of us do not have two or more sources of income, it is advisable to separate emergency funds from earned money. According to this statistic, investment in crypto will continue.

Moreover, we have developed a mindset that makes us unable to accept any loss. Therefore, one should be 100% sure before making any decision. So that it does not create anxiety in the future and allows for continued long-term investment.

Of course, more important than the amount is how long you can hold your investment consistently. There is no point in investing a large amount of money here if you cannot hold it consistently for a long time, stability is needed first of all. You invest a small amount but keep it stable for a long time, at least for 4 to 8 years, in this case there will be a significant possibility.

Many times people become overconfident in Bitcoin and invest their necessary money emotionally, such investments always lead to losses. So first secure money for daily needs and emergencies and then invest Bitcoin with the money that can be kept for a long time. Now to ensure this long-term stability, no matter how small the amount of money you have, keep investing it consistently, always take risks within your means, and keep an emergency fund separate so that it can be used easily in any situation.
Since Bitcoin is not a get-rich-quick scheme, and therefore, Bitcoin should be viewed as a means of long-term wealth creation rather than a way to get rich quickly, it is important to invest in it for the long term. It is not enough to just buy it, but it is important to manage it properly over the long term.

[Bitcoin.com97]

Hard work sometimes pays,I understand that saving money in Fiat can devalue our money but before putting all your money into Bitcoin,some factors need to be consider , Bitcoin is for long term investment,if you invest in Bitcoin for a longer period,you will see how it will grow over the years,but putting all in Bitcoin may result to you selling it when it's not the right time ,so some money should be kept in the banks for daily use,such as to pay bills and other necessary things ,if you feel hardwork doesn't pay off but investing in Bitcoin does, we should also remember we definitely have other things to do with money too, and Bitcoin investment is mainly from your discretionary income,so keeping some in the bank won't be bad after all .

[puloweh555]

Everybody in this forum already discussed why hard work does not guarantee wealth. The problem is not only in our effort, is where we store the money. If you work and save fiat money, goes devaluing with the time and losing its purchasing value without you notice. Does not matter how much you work and store your money. The currency with fixed supply, like Bitcoin, inverts this logic to work in your favor, because the supply does not increase and does not lose value. The volatility of Bitcoin is a problem for who needs know what will happen in the short term. But thinking in the long term the problem is store money in the wrong currency?

Imo, hard work will always be an important foundation in life, both for getting by day to day and for earning income that can be set aside for saving. And yes, to achieve wealth we need investment or building a business because without consistent effort, it’s hard to accumulate long term wealth. If we understand technology like Bitcoin then taking advantage of that investment opportunity makes it easier for us to reach that wealth because Bitcoin can fight inflation in the long run, unlike fiat currency which tends to be eroded by inflation. So, of course the main key to building wealth besides hard work is that we also need to make the money we earn grow through investment not just keep it in the bank.

In the end, the combination of hard work and the choice of where to store wealth complement each other. Hard work provides resources and discipline while storing in the right assets helps protect value from inflation. The point is, building wealth doesn’t come from just one factor but from the synergy of effort, knowledge and smart financial decisions.

[Yeesha]

We are taught wrongly, sometimes we are attributed to hard work and sometimes we are mixed with luck. Hard work is for our future, not for success because there are many people who have worked hard and worked day and night for themselves but have not succeeded. Not every person succeeds through hard work, hard work makes us strong, it is the last hope of our dream which we can fulfill by doing it. As we work hard, we should save some money from our needs so that we can use it the day you need it. Because every day is not the same, sometimes your hard work gives you a lot and sometimes your hands are empty. Therefore, we should not always disappoint ourselves with hard work so that we will not be able to achieve anything except hard work. A worker works hard but he does not increase his wages, this is where his hard work will not become success for him.

But at least, having the opportunity to put food on the table is a small success and we can't underestimate that, because we all know how important food is, in our lives. Fulfill our essential needs is also a great achievements. Based on my belive, there is a differences between success and wealthy. But some people are underestimating the greatest in little achievements. Hard work literally pays, but doesn't guarantee wealth. Even if an individual is earning a huge amount of money and it can not cover all of expenses, you will not be able to build a future with it.