GuShiio.com Money = time, but encryption is a different story.
Author:Route 2 FI
Compiled by: Shenchao TechFlow
Today, I want to talk to you about a topic that I often think about:The balance between time and money.
You may have heard an interesting discussion about whether $10 million is enough to allow people to enjoy a comfortable retirement? rdquo; My view on this is that this discussion is a bit ridiculous because the numbers mentioned on Twitter seem unrealistic in most parts of the world. I even think that just one-tenth of this amount is enough to allow you to live a very good life in most places.
Money is a very interesting topic, and it is not as simple as it seems. We earn money through our work and use it to buy goods and services. But the value of money will change depending on how it is used and when it is used.
Whether you make the first dollar or the millionth dollar, its purchasing power is essentially the same. But depending on how you spend the money, the extra comfort or happiness it brings can vary widely. In the final analysis, what we buy with money is simply to achieve the ultimate goal of happiness.
However, the satisfaction or practical effectiveness of the millionth dollar is far less satisfying than the first dollar. In fact, when money reaches a certain level, each additional dollar may bring some negative effects, such as more complexity, anxiety, and dependence on the next income.
Although the title is a bit embarrassing, the book “Your Money or Your Life” is a baptism of thought for me.
This book popularized an interesting concept, completely changed the way I think, and ultimately led me into the world of encrypted Twitter.
You may have seen the following chart, but it is still worth mentioning because it illustrates a key issue well:
Happiness does increase as expenses increase, but there are limits to this improvement.
This limit varies from person to person. Each initial dollar tends to bring more happiness, because the money is often spent on more useful and important things.
However, when spending reaches a certain threshold, the additional spending has little effect on improving happiness.
Money = time, but encryption is a different story
Money is actually a form of our time. It is a store of value. We exchange time and energy (i.e. life energy) for money, and hope that we can exchange this money for goods or the labor of others in the future.
For most people, the relationship between time and money is linear. After completing our studies, we exchanged X time for Y money:
1X time = 1Y money.
Although this is not always the case, it is usually the case, especially when we look at work from an annual perspective. For some people, this linear relationship may have an upward curve or slope change as a promotion or position changes.
Most people are satisfied with this and believe that time equals money.
But in the world of encryption, we know that this is not the only truth.
My understanding of money stayed at this stage a few years ago when I decided to pursue early financial freedom. However, as time goes by, the more we exchange time and money, the lower the value for money this exchange becomes.
Time is limited. As time goes by, it becomes more and more precious because we have less and less time left. Every day, we are moving towards the end of our lives. Although it sounds pessimistic, this is the reality.
How much is your time worth when you are lying in a hospital bed?
How much would you pay for a few more days? Would you trade places with 93-year-old Warren Buffett? He has $100 billion, but time may be running out.
Will you choose to continue working or pursue other life?
I was faced with this choice once. After a bull market ended, I seriously considered whether to quit the crypto space.
In the end, I chose a compromise plan. The relationship between time and money is nonlinear. As the marginal utility of each dollar decreases, so does the meaning of money to me. Although I am not as rich as those crypto OGs, I am satisfied, and I believe that this is the most important thing.
I don’t want to be the kind of person who is bound by money. Maybe I need to stop trading frequently and focus on long-term investments (but what is long-term investment in this industry?)
Looking back, I used to put my money in index funds in the stock market and only checked the market once a month. Now, I might check the market up to 50 times a day.
There is no right or wrong to exchange time for money. It is just a choice, and this choice will have different consequences.
I find that most people play this game for too long.
Some people do not have a choice, but most people do.
I think this should be the action plan for most people:
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Calculate how much money you need: Estimate using monthly expenses &www.gushiio.coms; 12 months &www.gushiio.coms; 25.
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Think about what truly brings happiness and how much it will cost to meet those needs。
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Cut all expenses that don’t bring happiness。
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Use the money you save to buy yourself freedom。
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Use the freedom to do what you love, or cut back on the work you hate。
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If you are still working, regularly evaluate whether the exchange is worth it. If it’s not worth it, go back to step 1 and repeat until you are satisfied。
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If you cannot meet the needs of step 1, you need to find ways to increase your income。
Forget the traditional linear development path and use your strengths to achieve exponential growth while building your personal brand.
When you are young, dare to take carefully considered risks, especially asymmetric opportunities where the potential benefits far outweigh the losses. Spend time studying, expand your network on platforms such as Twitter, and gain valuable experience in the encryption field through internships.
Find your strengths, strive to be the top person in your field, and find meaning in a job that can directly change your life.
People in the crypto world: The trade-off between money, time and happiness
Don’t get me wrong, making money is a good thing, but finding balance is equally important. I knew I had exceeded this limit many times, and I almost fell into depression because of it.
The current market conditions make me feel that one day is not enough. There are too many things to do but not enough time to complete them. This state also makes me feel stressed, especially when trading and holding large overnight positions, which affects my sleep.
I’m not sure I want this life to be my norm. I know it can be alleviated by limiting working hours, but facing a 24/7 market and fear of missing out on the market, it is easier said than done.
If I could do it again, I would optimize my life like this:
If I could go back to 18, I would try to keep my cost of living close to zero and try to find a marketing job in the crypto space or be an administrator at Discord. I will accumulate experience, save money, invest, and strive to make a difference within two years. If I fail, I will choose to go to college.
Since quitting my nine-to-five job four years ago, I have actually just replaced my previous job with more crypto-related work.
I thought this was freedom, but it is not. Don’t get me wrong, my current lifestyle is much better than before, but I still hope to be further optimized.
The last thing you want is to have a lot of wealth but no friends, have an unhealthy lifestyle, and have nothing to look forward to.
When you finally achieve success in encryption, you may find that this is not what you really want.
You have money, but you are still who you are.
Goals in life are not just about money, otherwise you can easily fall into confusion or even depression.
One last piece of advice
If you enter the crypto space just to get rich quickly, focus on high-risk speculation. In that part of the field, there is no meaning at all, it’s all about money.
But if you want to find meaning, growth, strength and true value, reach out to people who are willing to play long-term games. Or, create content and let them find you proactively.
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