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A rant on crypto, wealth,FIRE, health, social media, and society

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by COINS NEWS 93 Views

TLDR: Went kind all in on crypto. Got heavy into crypto in 2020-21 and thought I was rich. Was wrong. Stayed. By the end of 2022 had sold all properties that I could and borrowed against others. Haven't sold final equity (ie the all in). Think most of society is a joke and most NPCs have no clue what is actually happening (but think they do).

Long version. Broken in 20 pieces.

  1. The vast majority of people are closed minded and have no clue how money works and no willingness to learn. If you have an open mind, you're probably 1/5.

  2. The average person (from an American perspective) is getting poorer and even those making 250-500k as couple are deteriorating because their main purpose is to accumulate assets, not lifestyle. I've met 3 people worth 3-15 million-one has a lifestyle I'm jealous of. The other 2 I'm not because they continue to leverage up because they think it impresses people (word to the wise: having 7 toilets in a house is not impressive, it's bizarre).

  3. The key is age vs lifestyle and understanding your exits. The key is to have a house that is paid off, a low cost electric car, and solar as quickly as possible. Why? Because now the normal bills that people stress over you've eliminated.

4.Look around where you work, at your friends, and your family. Look at your CEO, your governor, and your best friend. Ask yourself if you want to do their path or the opposite.

  1. Crypto taught me that I was caught in a cycle of consumption. The sooner you can break this cycle, the better because most people blow their income.

  2. Society is breaking down before our eyes. Most people are more concerned for instagram or twitter likes then the health of themselves or their family. The best thing I did was delete 90% of my phonebook.

6B. The amount of drug, alcohol abuse, and bullshit among my peers -35-45 is increasing-quickly. Take that for what you will.

  1. Even though getting out early is important, do not make the mistake of telling your boss to fuck off because your account goes up. My close friend had literally cracked the code-lived with parents, was 29, spent almost nothing, and had a side job that took 20 hours a week and made him 3500. He had a job at a shitty ran place that made him $6k and his pride cost him that-he was unemployed for 18 months. That equaled 3.5 btc he could have had.

  2. 90% of people will convince you bitcoin and crypto in general is a scam. You have to learn to make your own decisions and generally tune these people out even though they are successful financially. The worst possible person to listen to is the guy with 2-3 kids with a big suburb house of 1.5-3 mill. The reason is that if crypto succeeds this means that ai succeeds which means many people's basis for making money goes to shit. The only reason I was in a place to invest is that these types of people told me 2016 and 2017 real estate was about to pop.

  3. Clear goals are the best: ie I want to get to 5 btc, I want to get to 100 eth, I want to get to 10,000 sol. DCA is great and all, but literally making it your goal to get specific to X will motivate you a lot.

  4. The biggest benefit to crypto was not me going up in wealth, it was taking an honest look at my health and reconnecting with my parents. AKA valuing the things that matter.

  5. There is no middle class in America at least in California. It's going to get worse.

  6. Social media has completely fried the brains of most people -expectations of what life looks like, how hard they have to work, and incomes to expect. Don't fight it-their minds are gone.

  7. You need to work extremely hard, spend as little as possible, and invest long term. Hard work to most people is getting up on time.

  8. The idea of being a whole coiner, let alone 5, has escaped the grasp of many who could have. They will continue to sit on the sidelines hating. Let em.

  9. Money will not make up for lack of health.

  10. If you "live for the present" add 5 years to your plan. If your goal is maxing out 401k and you have a lot of money, subtract 5 years.

  11. Every person that came into crypto with me (some before me) have sold the majority of their coins because they couldn't handle the volatilty. They can never get back to the # of coins they have. Put your cold storage in safe with a padlock in your mom's dresser (as long as you trust her). Protect yourself from yourself.

  12. FIRE-3+ 5,000 a month income is freedom for 99.99% of people. Net worth goal is 2-2.5. getting to 10 isn't happiness.

  13. As the saying goes you don't change crypto, crypto changes you. After my journey I am not nearly the same person and I have 2 people left from my old social group.

  14. Most people aren't going to make it and how this plays out I don't want to know...but if Los Angeles is a preview, it will look like more and more 3 world countries (super rich and super poor). The craziest part is people will be given government handouts and be drugged up and not care.

submitted by /u/Tryingtodoit23
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