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341 sats \ 4 replies \ @jimmysong 30 Mar \ on: Does Extreme Wealth Change People? AskSN
This is why getting rich slowly is a blessing. It gives you time to acclimate and frankly, mature, before you get to the next stage. People that are given lots of money at once (lotto winners, casino winners, sports stars) generally don't handle windfalls well and you can tell because they end up with divorces and few friends just 3-5 years later.
The slow growing wealth has generally sorted people out in the Bitcoin community. The people that can't handle wealth do something dumb with it (like altcoins) and lose it. It's not a coincidence that a lot of people that have pumped Bitcoin in the past are now pumping altcoins, in jail or something in between.
I suspect a lot of the spiritual searching that I've seen in Bitcoiners is from this dilemma. If you don't have a good base of morals to operate from, you're not going to be able to handle being rich.
If you don't have a good base of morals to operate from, you're not going to be able to handle being rich.
Indeed. And one implication of the post, too, is that living a small bit of a rich person's life for a short time doesn't set you up for such errors. Like I point to, it just feels off and unimportant.
Whereas if I had been magically awarded enough money to buy this house, then getting it would be disastrous since I hadn't worked up the moral base to steward it well
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It works the other way, too. The people that work up that moral base find themselves earning more money. Married men, for example, are the richest in the economy, I think, for this reason. They've had to build up character and virtue due to their responsibilities. Bitcoiners are getting married and having babies, which I interpret as Bitcoiners maturing and becoming more responsible to handle the next level of wealth.
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maybe the cause and effect is the opposite
bitcoin attracts those that want to get married, want to mature and become more responsible etc
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Interesting. I didn't think about the speed of acquisition being a big factor. I think you're right.
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