Tate on Why You'll Never be Rich
Episode Stats
Words per Minute
182.04095
Summary
3 reasons why most of you will never be rich and why Bitcoin is the one thing you can do to get rich. You don't need to be rich when you're old, like me, because nobody cares about the old dude in the Lambo. They care about the young dude in The Lambo! The key to wealth creation is outdated and wrong. The only thing that s changed is the way you're taught about wealth creation. The world has changed, and the only thing you need to worry about is money. If you don't have a lot of money, then you need a good amount of time and effort to create it. You need to work hard, save, and then get a mortgage to pay off your house. That's what your parents taught you, and that's what you should be doing, not when you are old and poor like me. I don't care about money, I just care about getting rich when I'm old and old like you are young and sexy. Recorded in Los Angeles, CA! Don't forget to subscribe to my channel! Subscribe and comment to stay up to date with the latest Bitcoin and Bitcoin news! I'm on the lookout for the next Bitcoin episode! Tweet me and let me know what you thought of it! :) Timestamps: 1:00 - What are your thoughts on Bitcoin? 2:15 - Why you'll never become rich? 3:30 - What is the key to becoming rich 4: Why you're not old? 5:10 - How much money you should have? 6:20 - What's a good day? 7: What are you working on? 8:00 9:40 - Why do you need money? 11:00 | Why you don t need to have a house? 12:30 | What is your parents' idea of wealth? 13:30 14:40 | How to become rich 15:10 | What would you need? 16:40 17:00 Can you be rich in the future? 19:00 Is Bitcoin a good thing? 21:10 22:00 Why you can be rich? ? 20:00 Do you want to be broke until you re old and sexy? 26:00 What is a millionaire? 27:00 Should you get a house like me?
Transcript
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I wonder how many people would watch a Tate speech of me just drinking coffee.
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Not saying anything, not doing anything, just drinking a coffee with my dog.
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On the 12th of March of this year, something amazing happened.
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Those of you who will follow me on Twitter will know what I'm about to talk about.
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On the 12th of March of this year, due to all the coronavirus lockdowns and rah-de-rah, everyone started panicking and everyone's going to get locked in their house and blah, blah.
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And the price of Bitcoin plummeted 50% in like two hours.
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And on the 12th of March, I put a tweet on my Twitter account saying, you're all pussies.
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Of course, a bunch of people start replying under it.
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People do not seem to yet understand that crisis and opportunity are the same thing.
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And what most of you people are doing is you're going through your life.
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And you do not identify any opportunity in these circumstances.
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And maybe one day when my ship comes in, I'll make some money.
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Three reasons most of you are never going to be rich.
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The opportunity we're discussing now, which happened on the 12th of March, where I bought
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600 grand of Bitcoin, which is now worth in excess of 7 million.
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I've turned 600K into 7 million just because I identified an opportunity.
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You're sitting out there thinking, if I just had a million, if I could just become a millionaire.
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Now, you probably didn't have 600K to buy Bitcoin like I did.
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You do not pay attention to the world around you.
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You're too busy arguing with your ugly girlfriend.
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It's the first reason you're never going to be rich.
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Second reason you're never going to be rich is that everything that is taught and told
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Your parents' idea of how to generate wealth no longer works.
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Your parents say, just work hard, save your money, put it in a savings account, and then
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get a mortgage, and then you can pay off the house all garbage.
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Back when your parents were doing that, the savings account gave them 6-7% interest.
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How much cheaper was a house in relation to their wages then than it is now?
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If you actually try and make money by just putting money in a savings account and getting
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a mortgage and paying off the mortgage, you're going to be broke until you're 60.
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You need to be rich when you're young and sexy, like me.
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Because nobody cares about the old dude in the Lambo.
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So everything you've been told and taught about wealth creation is outdated and wrong.
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The key to wealth creation, everything has changed.
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And I even say to people all the time, the ones I mentor and coach, don't buy a house.
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They're like, oh, but isn't that wasting money?
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What's wasting money is buying a house, giving huge interest rates to a fucking bank, and
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then tying yourself to one geographical location.
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The reason humans are the number one species on the planet is because of our adaptability,
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I can go wherever the money is, where the money resides.
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If the money is residing in Japan, I can go to Japan.
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If I need to go to Singapore, I can go to Singapore.
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It ain't going to take years for me to buy or sell something.
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I ain't got to worry about all the upkeep and property maintenance.
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I do own this house because I want it to be exactly the way I want it.
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It's a psychological thing that your parents have told you.
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If you own a home, if you own a home, if you own a home.
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And then I tell people this and they go, oh yeah, but you can always rent it out.
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You're going to spend $300,000 on a house so that you can rent out for $800 a month.
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And then every time the boiler breaks, you're going to spend $500 fixing the boiler.
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And by the time they leave, you're going to need a whole bunch of repairs.
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And they're going to be calling you all the time for hassle and stress if they even pay
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Do you know what else you could do with $300,000?
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Your real estate could be on the blockchain instead of out here.
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Because when it's on the blockchain, it can be sold instantly.
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So this is the second reason you're never going to be rich.
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Because all your ideas and concepts of how wealth is created are outdated.
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The third and most important reason you're never going to be rich is because you do not
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Have you ever met a guy who's just got covered in muscle?
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He did things specifically to get the result he desired.
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Every rich person knows exactly what they're doing.
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People who are making money know exactly how to do it.
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You're sitting there saying, I want to be rich.
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How the fuck are you going to get rich on accident?
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So, one, you do not pay attention to opportunities in crisis.
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Two, everything you understand about wealth creation is outdated and wrong.
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Here's where I come in, Andrew Tate, because I have a plan for you.
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I made 7 million, blah, blah, blah, blah, blah, blah, blah, blah.
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But there's something new in the world now called decentralized finance.
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I don't completely understand it, but I have very smart people who work for me who do understand it.
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Because that's what happens when you're the boss.
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All those people who went to, you know, expensive universities, and I didn't go.
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But these dorks who work for me, they know a bunch of shit.
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And what they're doing is they're getting me a 30 or 40% return on my money.
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So, I'm giving them 100 grand, and I'm getting 30% a year, 40% a year.
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We just talked about how the old ways of wealth generation, putting it in a savings account,
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I can give you 30% or 40% if you get involved in our decentralized finance program.
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So, if you want to know more about this, it doesn't matter if you have 5 euros.
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You can get 30% to 40% on your money with decentralized finance, and I am happy to teach you exactly how.
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You have to comment on this video and say, thank you, Andrew.
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And then you have to send an email to Cobratate News.
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Because what I'm doing is, I'm giving you a new way to generate wealth.
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I've identified an opportunity within the crisis.
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The crisis currently being that GameStop is destroying Wall Street,
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and Corona's destroying everything, and they've turned on the money printers,
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I've identified an opportunity, which is decentralized finance,
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Two, I'm giving you a new way to generate wealth,
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Two, this is a brand new way to generate wealth.
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and it's already made me $300,000, $400,000, $500,000.
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So the three reasons I told you you won't be rich,
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It's brand new, and it generates wealth right now, today.
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And I give you a plan telling you exactly how to do it,
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Now, maybe I'm a bit egotistical, some would say.
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And I don't like helping ungrateful motherfuckers.
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so I can check this video and make sure you said thanks.
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If you do not say thank you to me below this video,