I know it's fun, especially when the price moves up...but telling people how much bitcoin you have is not good. why?
- Hurts relationships. Jealousy-humans are envious. It will hurt friendships if you become the rich person if everyone else is average/poor.
- Hurts income -the thing you are using to acquire more btc. Do not, for the love of all that is holy, tell your boss, even if said boss owns btc, that you own a lot. If you own 10 btc, tell him you own 2. If bitcoin goes up a lot, he will say "well Joe doesn't need a raise". And he will deliver it by saying "Joe we really need to keep Tammy on and pay her more, you're ok, right"
- Gives you a false sense of wealth. You start seeing your ledger balance, you stop stacking. You start spending. I should have had 4 rental properties-I did-but I had to give them up, and now I have 2. I decided to blow money on some stupid ass shit and could have kept at least one instead of paying for dinner for a bunch of fake ass freeloaders. Many people I believe will regret that they have 1/2 to 2 btc when they could have easily had 5-10. I believe there is no excuse for anyone in the first world who has a family they can live with to get to 5 coins.
- Safety-You are not helping yourself by letting people think you have a valuable asset UNLESS you live in an extremely safe area. Look at la, look at nyc. People getting robbed on the streets. You might be an honest person; many people will steal, hurt, rob, for $10. Imagine what they are willing to do for hundreds of thousands or millions.
- Keeps you from the big goal. Money is supposed to be spent. For many, money can be: I can retire at 50 instead of 60. For others it can be I can take a job I want versus the job that pays now. It could be a gt3...and for a few, it will be the ability to live life on your own terms. I beg of you: that dumb watch, that fast car, the lavish gifts-they mean NOTHING. Reach for the big goal.
- Makes you a gambler. For many, I believe we HAVE not seen the real gambling begin in housing, crypto, or the stock market. Look at how many very smart people went bust who took leverage-primarily because they were greedy and thought they were late to the party. Stay humble.
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