After the massive bull run in crypto there are many millionaires walking around who have never experienced wealth. If you made money in a different way, this post is still for you. Status is a disease (the need for attention). While we’ve recommended targeting three areas: health, wealth and insecurity (in terms of starting a business)… This post focuses solely on status. This is the best time to do this. Many previously anonymous people are going public with their real faces and real names. Why? To get into more exclusive clubs/deals and make more money (even though none of them need it, they are already rich). Perhaps they are doing it for a different reason. And. Incentives typically lead to the correct answer. Therefore it’s best to explain the psychology here.
Attention Seeking Creatures: Humans are generally acceptance seeking creatures. From the beginning of time we lived in particular tribes which led to echo chambers. In short, it is “natural” to look for acceptance and attention. We’re suggesting you avoid this.
In the new world, you do not need the approval of large numbers of people. You only need a few close friends/family members and they don’t need to know your net worth. No one does. In fact, there is always going to be a “richer” person in the world so you’re effectively playing a losing game.
Take a step back and ask yourself “Why do I want people to know I am rich?”. If you ask this enough you will come to the no-BS conclusion, which is that you’re insecure. You want people to know you are rich as wealth is one of the only ways to “show” the world you’re better than average. Other ways to show you’re better than average include an extremely attractive partner and extreme athleticism or good looks. Again. We will focus on money here as many of you made millions according to our email thank you letters.
The need for attention and fame is a disease. A disease of insecurity.
You are good enough as it is, you don’t need validation from anyone (not even your heroes). When you get rich, come back to this tweet before you buy that green Ferrari.— WallStPlayboys.eth (@WallStPlayboys) March 14, 2021
You Will Buy That Green Ferrari: Contradiction? Not really. Everyone goes through the insanity/mania phase. Perhaps you get the black lambo. Perhaps you buy that $100,000 watch. Perhaps you buy a home that is obscenely large. Perhaps you fill in the ____.
Everyone does it and we’re not here to shame the status/mania phase. We’re referring to long-term attention/fame. This is a different game. And. A game you should take incredibly seriously. Once you open the bigger flood gates, you cannot “go back”. If you decided to buy a super car, you can always sell it and go back to your normal life. “I lost it all with a heavily levered position” is always a good way to claim you lost it all. Leverage is a common wealth losing mechanism. Fame? Fame is forever.
Downside of Fame: If you’re a public figure, you also inherit the following: death threats to your family. Death threats to you. Potential for serious violence particularly after the COVID-19 global recession. Potential for additional security attacks (people will find all your personal information and go straight into attack mode). So on and so forth.
The easiest way to see that this is true? Look at the paparazzi that celebrities have to deal with. They can’t even go to the beach and lounge around for half an hour. They can’t go grocery shopping without security. They can’t even talk to someone new without a photo being taken of the event “oh my god he/she is talking to so and so”. For more information on this youtube is a perfect research hub, watch it on video.
The most important part? The inability to reverse course. The only real way to lose fame is by losing all influence (such as a one hit wonder or a pro athlete who gets injured and is quickly forgotten). Otherwise? You’re stuck with it forever. This has implications for not just you but everyone associated with you. Your best friend? He’s now at risk. Your pet animals? Psychos will quite literally try to kill them or steal them. Kids, Family so on and so forth… all at risk for as long as you are in the spotlight.
NFTs are Great Timing! Well if you agree with the general premise the good news is you can still play status games online while remaining anon. Unless you have not been paying attention, avatars of punks, masks and other objects are popping up all over the place. If your goal is to show you’re rich while remaining anon, this is a true and real strategy. Go and buy a crypto punk (https://larvalabs.com/), expensive hash mask (https://www.thehashmasks.com/), an expensive beeple (https://opensea.io/) or Fewocious… etc.
Once you’ve done that you can prove you own it and flex online to the other “plebs” while maintaining your entire anonymity. Besides. If you’re dropping $200K on a JPEG, you certainly don’t need to become even richer. You’re already set for life. In addition? Your goal of getting in on the best deals will come naturally. Once someone realizes you own a 10 BTC photo, they will slide into your DMs with those crypto projects you’ve been dying to invest into. Problem solved! No need to become a public figure.
Time to End on an Ultra Positive Note: Hopefully this post has spoken to you in some way. If not save the tweet and this blog post for the future as you’ll likely become ultra rich. If you’ve been following us for the past ~5 years you’re probably already a millionaire anyway.
On that note, if we look at where the world is heading, Digital is eating Physical. It’s happening to art, music, financial services and more. The digital future is here (the art post link here is probably one of our best of all time).
It’s best to fade into the background in terms of what you actually own (unless entirely anon then you can go ahead and flex). Think about the big picture. If crypto takes over as the world’s reserve currency. Check out https://fiatmarketcap.com/
