Wealth Symbols vs Status

Eventually, ignorance can lead us to pile up liabilities instead of assets. People often chase after things that will end up costing them more to keep up with. Meanwhile, others are smart enough to invest in profitable assets that can provide additional benefits down the line. So, what’s the deal? Do we want to secure our future today and reap rewards tomorrow, or are we just looking for instant gratification while risking our future gains with Bitcoin? Are we really considering the opportunities Bitcoin presents, or are we just focused on flaunting status symbols for now? It’s crucial to figure out how we want to plan for our future with Bitcoin and other benefits that come with its adoption.

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!

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.

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.

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.

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.

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.

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.

All these mental gymnastics you people do are always funny to see. It has been championed by social media "motivational speakers" You guys have now made it your reality. The things you mentioned above and the ones below are not mutually exclusive. You can have an expensive car, watch, and a yacht, and still have good health, Bitcoin and the rest. Getting the good things in life, or even the basic things (if you don't buy expensive ones), is not an abomination or whatever narrative you can think of. There is more to life than just living. If you have the money to afford it, you can if you want to. Having investments or planning for the future doesn't stop you from having a good life. People work hard for their money; there's no point in making them feel bad for spending it on themselves every now and then.

I guess if we tried to relate with the Bitcoin could be wealth if only you know whats your target with the bitcoin is its for a long term hodli with the market and to be a diamond hands or you want to become a those people who did panic selling in the market every time they have seen news related to massive selling of coins, bitcoin can be also a chaotic to those who dont know they are doing instead getting wealth they got is debts. Only diamond hands become profitable in bitcoin well beside for the traders of course. Actually this makes me curious too having 1 BTC is personally not enough for me be become wealthy instead I guess at least 2 digits? For me health is the best wealth your investment becomes useless if you just got hospitalized and also network is the best even you dont have bitcoin but you have people around you to help you or even your business you can earned this bitcoin too.

I choose securing the future today by having Bitcoin investment and others so I can enjoy my future better. But if I only focus on status symbols, that will not be ends and will increases following the situation. Status symbols mean you chase something higher time to time and makes you tired while you lose time preparing your future. But if you preparing your future by adding more assets as your investments, you will seeing your investment grow following the time. You will securing the future and enjoy your lives without worrying with anything. Chasing status symbols will not makes you succeed but will adding more cost without you realize but that is a choice so you should choose what is the best for you.

As much as I support people to invest in assets that will make them financially stable in the future, I also encourage people to enjoy their lives. I have an uncle who was very hardworking and accumulated much wealth. He had plans to retire early and start enjoying his wealth. He died before his retirement and his brothers are now enjoying everything he had worked for.  Bitcoin has proved over time to be a profitable asset and I have always encouraged people to invest in it. Its decentralized features help to secure wealth against state actors and its ability to serve as a hedge against inflation protects against the drop in value of fiat. I also encourage people to diversify their assets because Bitcoin is not the only profitable asset.

If we thinking about the future i think status symbol is not necessary because having things like car, luxury watch and yacth will not ensure our future bright especially as far i know unlike put your money to investment tools but, the prices of those things above will not be increase for every year because usually more longer you hold then the value will be decreases too following years. But it could be a different if people focus on wealth symbol that because the people only thinking will have good future like financial freedom when people can enjoyed their retire time without thinking to hard work again and for wealth symbol, certainly bitcoin has condition to called as future asset because the longer people can hold potentially people can take benefit too from that.

In the end, those who are truly wealthy have all of them. I'm sure it's not an either-or for them. And they don't care disposing one luxury car for another, maintaining yachts and choppers and planes, whether all these expensive stuff are a liability; they have all the money in the world. For us mere mortals, however, there's a need to find the right balance. Our future is always uncertain. We're always tired and busy preparing for it. Many among us, unfortunately, have neither suit nor car yet our debts are piling, our health falling, and time isn't in our favor.

Cases and perspectives differ for those familiar with Bitcoin and those unfamiliar with it, as I believe not everyone can secure their future through or utilize Bitcoin. When it comes to Bitcoin, there are several steps we need to take to achieve a future through Bitcoin, and these refer to several approaches that can be taken depending on our capital. We must prepare for the future so that we have good financial capabilities, and Bitcoin can be a path to that future, depending on how we prepare. It's better to live simply now but have the confidence to invest in Bitcoin, and we should strive to employ the best approaches and strategies for accumulating Bitcoin. Planning for the future is everyone's responsibility to improve their lives. We must be able to see opportunities in various investment options such as Bitcoin which has the potential to lead someone to a better financial life.

Whole assets vs debts thing is real thing and very few people think of it in that way. Yes, car, designer clothes, latest phone, these are all considered wins but they are all losing value as soon as you buy them.  No one is arguing to cut back on yourself now so you can collect sats. My message is simply that you should not spend every single dollar on things that lose value, and ignore something that has fixed number of 21 million coins, and big companies and governments are becoming more and more interested in it. Current level of Fear and Greed Index is 20, extreme fear. That is when people that have been in market for a long time have added more, in the past, that is when they have added more. Those who bought in similar fear times in 2022 are in very happy place today.

Ensure that before you start enjoying your money in luxury, have something as an asset you have invested upon, this is very important and helps you maintain your future, because it is not advisable for you to start enjoying now later so far in the future when you have nothing to fall back at, this is where the idea of what an asset is comes in and liability as well and with determine which one we go for.

Showing off luxury is stupid; showing off luxury bought on credit is idiotic. Poor people are only envious of luxury, and rich people are very hard to impress. And so you end up trapped: wasting mental energy and real money trying to impress people you either despise or who don't care about you at all.

Getting rich with bitcoin days are over in my opinion, you are not turning a $100 investment on bitcoin into a million dollars anymore, you need to be rich to own bitcoin(s). And bitcoin is more than getting rich it is still useful for people who are surviving, atleast they got a chance to pay as they wish without even getting into any third party.