Not rich, yet? Read and act on How to get rich + BTB..."Theres a floor to saving and no ceiling(s) to earning" ... "You can sell your business, you can't sell your job" ..."don't be the boring rich guy"
I think the "buying btc won't increase relative wealth" needs a little more context. If you are in the top 75%, will buying btc (as opposed to s&p, real estate, etc) help move you to top 90%? For sure and any lower even more so. If top 90%, will it move you into top 95%? Maybeeee not. I guess this is assuming the average reader is the previously stated $200-300k income, $600-$800k NW which is probably top 90% of NW?
TLDR - if you choose to allocate more into btc and less into real estate, stocks, etc, you will increase your relative wealth because btc is better than those. If you're allocating to btc instead of your businesses, then no you aren't.
Wealth and status (value in general) are relative. If you were her best option (or at least the "expected value" of that being true were high), she would not leave you. You need a point of reference to say you're rich. Hence you gotta be at the top of the list of options.
That's the reason why "equalizing" everyone doesn't work: there's a prisoner's dilemma and people will deviate right away to be better than their competition.
No wonder wealth redistribution is such a popular topic - 90% of the population is a large majority shouting for "eat the rich".
Another way that wealth distribution has been happening is new governments coming in and forcing a redistribution of assets (see socialism/nationalisation in LatAm, Russia, countries at war etc., economic empowerment in South Africa, Zim, etc).
You need to protect your business interests too - it isn't enough to be anon as individuals, but you need to be careful on the business side too and protect against potential shareholding grabs/redistribution by Gov. Governments are just representative of the average voter, and the average voter is swayed by populism. Can your business be based/moved to a jurisdiction that protects property rights and capitalism without losing it all?
I watched this happen to the working class up close through the 00s and 10s.
Constant layoffs, automation, offshoring, housing crisis, drugs, you fucking name it. Not to mention second order effects like divorce, abusive relationships, welfare, etc. The jobs my grandfather and his siblings had are gone. And if they're still around, they're not remotely the same.
So I look around now, and it's happening to the 'middle class'. I think about that a lot when I read these posts. And how it looks exactly the same.
If you’re up 2x on blue chips and don’t need the money, should you still sell and dump profits into a larger primary residence / upgrade to a better location / don’t sell and let the blue chips ride? (not fan of being landlords either). Assume already living in a Tier 1 global city.
Hefty degen tax with 100% revenue going to support productive young people in some form. Old degens & degen heirs alike can be on benders 24/7 for a good cause. Win win win
Not rich, yet? Read and act on How to get rich + BTB..."Theres a floor to saving and no ceiling(s) to earning" ... "You can sell your business, you can't sell your job" ..."don't be the boring rich guy"
It’s like you talk to me 1:1 with these posts. Thanks.
I think the "buying btc won't increase relative wealth" needs a little more context. If you are in the top 75%, will buying btc (as opposed to s&p, real estate, etc) help move you to top 90%? For sure and any lower even more so. If top 90%, will it move you into top 95%? Maybeeee not. I guess this is assuming the average reader is the previously stated $200-300k income, $600-$800k NW which is probably top 90% of NW?
TLDR - if you choose to allocate more into btc and less into real estate, stocks, etc, you will increase your relative wealth because btc is better than those. If you're allocating to btc instead of your businesses, then no you aren't.
Wealth and status (value in general) are relative. If you were her best option (or at least the "expected value" of that being true were high), she would not leave you. You need a point of reference to say you're rich. Hence you gotta be at the top of the list of options.
That's the reason why "equalizing" everyone doesn't work: there's a prisoner's dilemma and people will deviate right away to be better than their competition.
Solid article like usual. Gotta ask... Favorite Lil Mosey song?
No wonder wealth redistribution is such a popular topic - 90% of the population is a large majority shouting for "eat the rich".
Another way that wealth distribution has been happening is new governments coming in and forcing a redistribution of assets (see socialism/nationalisation in LatAm, Russia, countries at war etc., economic empowerment in South Africa, Zim, etc).
You need to protect your business interests too - it isn't enough to be anon as individuals, but you need to be careful on the business side too and protect against potential shareholding grabs/redistribution by Gov. Governments are just representative of the average voter, and the average voter is swayed by populism. Can your business be based/moved to a jurisdiction that protects property rights and capitalism without losing it all?
Can’t believe this one was free. Feels it should be worth the cost of a yr subscription.
This resonated. Deeply.
I watched this happen to the working class up close through the 00s and 10s.
Constant layoffs, automation, offshoring, housing crisis, drugs, you fucking name it. Not to mention second order effects like divorce, abusive relationships, welfare, etc. The jobs my grandfather and his siblings had are gone. And if they're still around, they're not remotely the same.
So I look around now, and it's happening to the 'middle class'. I think about that a lot when I read these posts. And how it looks exactly the same.
If you’re up 2x on blue chips and don’t need the money, should you still sell and dump profits into a larger primary residence / upgrade to a better location / don’t sell and let the blue chips ride? (not fan of being landlords either). Assume already living in a Tier 1 global city.
Surprised the comparable wasn’t "United States of Asia” in your first few paragraphs, but still, a great post.
If one of my friends said he is going all in on XRP should I still be friends with him?
Hefty degen tax with 100% revenue going to support productive young people in some form. Old degens & degen heirs alike can be on benders 24/7 for a good cause. Win win win
lmao that jab at #2
"services" made in EE
On a serious note, it's painful to see the widening gap among friends, relatives in the early 30's.
2-3 were misfits and were hustling, trying since early, have an online income as their main rev source.
The other winners I met on my own path.
But the rest?
All stuck as wage slaves, can't imagine what's going to be like this next 10 years.