Some days back I talked about a man from Twitter who was up $85M in profit from trading and never took profit until he lost all the money.
So I decided to follow his story.
This tweet went so viral that many people had to see who was crazy enough to do something so insane. Apparently, I did too. I looked into this guy, and there was not much information about his personal life.
I wanted to see if there was any information about his private life on Twitter because I wanted to know how wealthy he was to be able to do such incredible things, but there was none. I also wanted to know if he had a gambling problem, because that could explain a lot of things.
He posted a tweet yesterday claiming to be financially free.
But is this justification enough?
Apparently, many people had taken it upon themselves to mock him for losing such a large profit, and he probably needed to respond for a variety of reasons, including damage control, justifying his risky trading style, and possibly throwing back a few jabs at those who were mocking him.
Different enemies
He did not just end his tweet by saying he was financially free; he went on to talk about fighting a different "money enemy." Apparently, many people will kill for $1 million; in fact, 98% of the world's population (if not more) will do so.
However, we seriously underestimate one important fact in life: money must be grown in order to multiply.
I am not sure what that guy's previous source of income was or if he made his money as a genius trader, but one thing is clear: people are fighting different money battles.
Obsession VS Real struggle
There are people who are obsessed with turning their $995 million into $1 billion, and if you think Kanye Wests are the only ones like this, you are mistaken. People on this wavelength are already financially independent, but they are still striving to make more money; why?
Because it is simply an obsession with making round figures even rounder. Perhaps they no longer want to be referred to as millionaires in dollars; instead, they want the title of billionaires, and while this may seem absurd to you, you must understand that your vanity is not the same as another's.
Vanity
Also, while you may believe that this obsession is vain, you will be surprised to learn that most wealthy people only pursue meaningless milestones.
Playing catch-up
There are people who just want their 1k$ to be $20k; they are grinding and struggling, putting in the work, and still feel like failures; they see $200k as a dream; a financial position to rest and retire, and every day they see those with $300k hustling to make that figure $1M.
For every financial mentality you have, there's a knowledge that comes with it. Most of the financial lessons we have learned have come from some of life's most painful experiences, so we can not even consider gambling because it is like kicking your support system or sacrificing your current position in order to advance.
The knowledge and the technical savviness that comes with money is from a place of discipline and having limited resources.
This means that common sense is not just common; it is a type of sense that you develop through experiential learning. Some of the people we consider fools may have been previously wise, even wiser than we are, but life may have placed them in a different financial position where their gambling expenditures will have no effect on their financial standing.
However, make no mistake: people can overestimate their financial situation simply because they have recently experienced a period of relative abundance. I'm not talking about people like this, I'm talking about those who have developed a taste for gambling because they they know it might never really affect their financial position in life.
Gambling is multifaceted & Relative
Make no mistake: gambling can move you from stage 40 to stage 120. Inasmuch as you can crash hard and land on your balls, we must remember that some already wealthy people built their empires by simply gambling. When I say "gambling,"
I do not mean standing in front of a shop and betting with the property you live in; rather, I mean longing for BTC to rise in a bullish market with a spare $50,000 from your rental income. The two scenarios are not the same, despite being equally risky.
Lessons learned
Everyone in life is fighting a different financial battle, and what makes this even more unfair is that some people's gambling money, when given to others, can dramatically change their lives. This is the best justification there is.
Not everyone will have the experience of throwing money without fear of the consequences. Some people in the world are already in this financial mindset, although the parentage is quite low, and this is why common sense is more common to those who aren't already in this financial mindset.
It is a long battle, and we are on separate tracks that can never meet. These people will never be able to run our race in the same way that we cannot run theirs; they are most likely competing in different leagues with different rules and umpires.
Interested in some more of my posts
Why Is the grind getting harder?
Monopoly Is the Death of Civilization
Survival: Choas and Scarcity
Crypto: Gut & meaningful Connections
What is the primary barrier to entry in Web3?
What Are Some Things You Should not Do During A Bull Market Year?
