Saturday 2 January 2021

The "I just became a millionaire" problem: Should you tell people?


No!Some of us are becoming extremely wealthy because of Bitcoin. And many of us came from poor or lower-middle-class backgrounds. The joy, the exuberant feeling winning millions may lead you to make a severe mistake: You want to tell the world. You want to post it to Facebook and Instagram. You want to buy that lambo and race your neighborhood and live-stream your vacations.DON'T.Before you know it, every one of your cousins, nieces, (grand)parents, siblings, friends, co-workers, former classmates, and complete fucking strangers will present you their "business plan" why you should invest in their store/car/house/vacation/shit. And if you're a guy, there is a real danger of gold digger women who are much more cunning than you can possibly imagine.Only tell your spouse and/or long-term lover. And your children. But that's it. No, you don't tell your parents. Not yet. Not immediately. Only long-term lovers and kids are your Inner Circle of trusted allies. Everyone else is a potential honeypot.Your first best decision is to keep quiet. Your second best decision is to start investing in INCOME STREAMS. You may have a lot of money now, but it's going to devalue like the USD or any other currecny. You will want to invest in business operations that generate you more CASH. For example, you can buy a restaurant business (after covid, of course). Or you can buy an ecommerce website that generates profits. Or you buy several apartment units you rent out to expats.Whatever you do, 1) keep quiet, 2) find 3 new income streams. You can, of course, re-invest in other crypto, or invest in gold, or invest in anything you think will generate profits. But focus on income streams.When people find out you've bought a new restaurant, they can figure it out for themselves that you must have won big. You don't need to tell them how you did it! Now, you may tell your parents you've bought that restaurant or those apartments for renting out. You don't need to tell anyone your exact net worth. Talk to people about what you're DOING with your money, not about the contents of your savings account.Once you've set yourself up with several or more income streams, you can buy that lambo. Just don't let anyone but your spouse and kids touch it. And you may need to hire a security/surveillance team to keep an eye on you. The rich stay rich because they invest in income. Get it? HUSH via /r/Bitcoin https://bit.ly/3pFEG34

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