This term applies only to first world citizens, but my fellow third worlders can also understand the term, it's just that the amount of zeroes varies from one country to another.
First of all let me explain to you what is the six figure hell.
This little place lies in your mind and is affected by your physical self, but in reality it is only a psychological state, similar to tilt in poker or the impostor syndrome in your daily life, they are just states of mind in which we get there by letting outside factors affect our psyche.
You are in the Six figure hell when you have already generated a lot of money from investments, working a 9 to 5, gambling on crypto and whatnot. It costed you a lot of sweat, tears and blood to get there, and you are afraid of losing it, of going back to the beginning of this grind just because you make a bad judgement or make wrong decision and boom, you are back at having a 4-5 figure bank account. At the same time, you are far, far away from financial independence, so you either accept the idea of working a 9 to 5 until you are 65 and live with the resignation - and yourself - , or you keep taking significant risks, investing, stressing out, researching, making sound decisions, etc trying to turn a six figure pocket into a seven figure one, all the while living in constant stress, fear and a sense of dread thinking everything can tumble in a matter of days or hours.
The hell is real
You live in the six figure hell when...
You can't buy a house yet because then you would be back at square one with only pocket money, and you already know how hard it was to turn that 1k into 100k. Rent would eat up your passive income, effectively narrowing your investment gains. You can't buy anything significative because you wouldn't have enough money to invest and make the gains be worth the stress.
You're literally on the edge, but not quite there. You are in a constant state of having blue balls, and there's nothing you can do about it.
I am nowhere along the lines of having my life solved, and I have definitely made some great decisions that have allowed me to live comfortably, but I have also made a lot of wrong takes and chosen the wrong path, leading to big money losses and feelings of despair. I am still grinding life, as most of you still are, and that is great.
I am not in this hell, I don't have a significant chunk of money to worry about losing, I am still in the grinding phase of life, I am actually working towards having the honor of living in this six figure hell.
At one point un my life I had almost 100,000 Hive but, due to family, covid, and depressing times, I hold just a fraction of that amount. When Hive hit $2.50 I would've had 250k USD, that's in the six figure range and living in Mexico having that amount makes you a millionaire and part of the 1%. I don't have that anymore, I only have around 20k Hive spread around and despite being so close to live in this hell from which I want to leave - but from the top, not the bottom, I want to enter this hell and leave on the other side, not leave from the door I went it, you know? - now I am back at trying to find a way in, and to be honest it seems like a long road, especially during this bear market and crypto winter that apparently will last a long while.
Smelling opportunities everywhere
That's one way of making money. Lurking the money boards trying to discern the gold mines from the trash talking, FUD, rumors and whatnot. I spend a lot of my time trying to find the next big thing and sometimes I do and 2x or 3x in a week or so, but the reality is that I will never make enough money because I don't have a lot to invest to begin with, which is why I decided to get into coding, to actually have extra money to invest (or should I say gamble?) in crypto projects that are promising. But, while I get prepared and learn to code, I still need to make a living, right?
I think you get the point, I'm stuck in a vicious circle. I'll get out of here soon - hopefully - and I am working every day to make my reality different, to shape the one I want to live in. I ultimately don't want to live in the six figure hell but, I definitely want to be a tenant for a few years and after that, leave that place using the big doors.
The thing about X00x
Most of us - and I mean Hivers - would need a 100x return from another investment to have enough money to make a difference, not a difference on our long term life prospects, but a difference in our making money methods and schemes.
The intrinsic ridiculousness within the prospect of finding a coin that will 50x or 100x and then we will have real money to just need that 3x or 5x to be set for life is just that, a ridiculous prospect that we should forget about. That's how you get rekt, that's why putting your life savings on a shitty coin that might 1000x almost always leads to suicide or worse - don't ask me what is worse.
The path to financial freedom is a slow one, full of stress and with risky investments and hard decisions everywhere, there's no easy path, at least not for 99% of us - we all know about the dude who forgot about having a BTC wallet or a shitcoin bag somewhere and found, and is now a millionaire, but that's never going to be us.
We have to play on hard mode, and that is fine, I've always played on hard mode and I can't wait to live in the six figure hell and then, leave.
What about you?
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Very good post...
This is a very real psychological challenge.
Even though I've already quit my job and I'm feeling pretty secure...
I feel like I can't take any risks from this point.
Need that 10x to get into seven figures before I start building a business and/or making major upgrades to our witness node @hextech.
Lucky for me no one depends on me.
I'm only responsible for myself at this point.
Reduces a lot of the complexity.
This six figure hell is a very real thing and I think the Hive ecosystem can greatly mitigate it or even eliminate it entirely. It all come down to being able to offer consistent jobs with good pay. "Get paid to ____"
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I live in a 5 figure hell :c
Lol, I live in a 4 figure hell, but the most annoying is the six one, because you already made it, but you are not quite there yet, there still needs to be some grinding. We can all make it.
Wait, 4 figure? Are we talking monthly or yearly? xD
I don't have expensive taste, I just have a shitty job and bills to pay :p
But ye I get, I am trying tl grind out of there ^^
Oh, the hell I talk about on this post is the figures your portfolio has. Once your portfolio hits 7-8 figures (in dollars) you are kind of set if you know how to manage your finances, but being on a 6 figure portfolio means you made it, but not quite yet, because 6 figures are not enough to support you for a lifetime.
I literally have less than 500 bucks worth of expenses a month, I could be saving a lot, I just need a job lol.
I'm in the 4 figure portfolio hell lol.
Ohh shit, I completely missed that! Ohh well, I am.in the 4 figure hell aswell then, if you don't count crypto (Hive) since I don't want tl pay 57% on tax on crypto x)
How are you surviving without a job buddy??
Same. I think the bullrun is still on though, so maybe I'll upgrade to 6 figure hell, lol. Few years ago it was a 4 figure hell though, so I don't mind this :)
Yeah, I just think it's been postponed for a few months. I see crypto winter coming, but hopefully I'm wrong. I hope the business is going great man (was it massage?) and glad to hear from you amigo.
I think this is the case, too.
Yeah, massage. Business is doing alright, it turned profit by last Christmas, 8 months from the start :D
Thats awesome to hear buddy! :D
I cant wait to do the same. The six figure hell is real and gosh the way you described it is definitely how we are living today. Sincerely, we are afraid of the things you mentioned
And it's only but a matter of time, we would be tenant for now, and then we'll definitely leave this door behind.
For now, let's just keep grinding and we'll see the light at the end of the tunnel.
Yeah, the pain is real, but we can all make it. I don't like saying we are all gonna make it because the intricacies of such statement are infinite, but if we put enough time and effort, we can all make it.
Back before the dot-com bubble burst. I had about $1.4M in stock options. They needed 6 more months to mature before I could cash them out. But the time they reached maturity, they were worth $0.
Sometimes, it's not your choice ... it's just how it is ... So ... we keep grinding. :-)
If you dabble in the fiat stock market ... I just got in to TGOD at $0.09CAD ... Hopefully it's the key to not needing to grind. https://ca.finance.yahoo.com/quote/TGOD.CN/
Fingers crossed.
Holy damn, 1.4M would have you set for life if you move to an Asian country or a South American country and live like a retiree... that must have been a hard blow to take man, I'm sorry to hear about it but I'm also glad to see you overcame that blow.
I'll definitely give it a look, I have never traded Fiat stocks, do you recommend any good platform to do it?
Yeah, it really sucked... But ... I was in my 20's, and since I never had the money to begin with ... I didn't lose anything - or have to change my lifestyle. One of the folks on my team was mid 60's and was planning on retiring ... he basically watched his retirement plan flush down the sewer. So, the big lesson I learned was to always diversify. Having all your investments in one thing is a bad idea.
Spread it out ... Crypto is one, but then in the fiat realm, spread it around tech, mining, oil and gas, gold, real estate etc etc etc. If one tanks ... it hurts but you'll recover.
In Canada, I can do my investing through my bank within RRSP's (Retirement Savings Plans), so as long as I follow the rules, I won't have to pay capital gains tax if I ever make any money. The trick is to find an avenue in the fiat environment that charges you the least to play with the stocks. (i.e. $10 per trade - which is a steal if you compare it to what the GAS prices are/were with crypto.)
jaaaaaaaaaaa apenas he llegado al infierno de 4 cifras pero ahí vamos igual pensando que un día las criptos shiba y mintclub me saquen de pobre jaaaaaaaaaaaaaaaaaaaaaaaaa
bueno espero hayas disfrutado las 6 cifras voy lento y creo que estoy como a 20 años para llegar hasta allá.
Saludos estimado ahhh y vete comer unos escamoles o unos tenquiques para celebra que estamos vivos hombre.
I remember the early days, you are one of the OGs!!! you know your way around HIVE, you will get back your 100K We are gonna make it big, no doubt about it. Like I heard recently from a Patrick Bet David podcast. to be rich we need to be aggressively patient.
I think there's a generation before me, you know the early miners and those who've been here since Inception, but yeah I've been here for a while :P
Thanks for dropping by!
Same reason I learned how to code for blockchain stuff. I do have money in the bank and a well-paying day job but since my wife had to quit her job due to it wrecking her with RSI then the pandemic hitting, we don't have spare cash around to invest. Everything I earn basically gets spent, including money from my side gigs.
My challenge now is finding something to apply those programming skills to, because as far as I can tell, there isn't anything yet that I could code that would generate hive or that people would be willing to pay hive for.
Yeah man, coding is the answer if you are disciplined and focus. I am sorry to hear about your current status but hey, if it wasn't hard we wouldn't appreciate it at the end of the line.
That's one of the worst states, knowing where to invest but not having the liquid to do so, and then just watch other people moon and think damn, I could've been there, I knew it would moon.
I'm on the JS road, then Node and React, what about you? I saw your Q64 post but I reckon you might be into some other stuff as well.
I’ve been a developer a long time, I’m old enough to have worked with COBOL 🤣
Day job stuff is WordPress so PHP and React/Next/GraphQL, and side stuff and automation is Python. Retro game stuff is all kinds of fun things :)
I have a different view on it Eric.
Way past retirement age my only target is to get the charity into the 6 figures, simply then it will be able to continue once I have croaked.
We cannot just close down after I am gone as almost 21 years of successful work will go down the drain. So I have placed a young team of volunteers in charge and our advisory board also has a few young professionals.
Yes it is a slow hard slog, but one get's back what one puts in workwise.
!BEER
It must be another hell, that one where you built something amazing and are worried about what will happen to this when I'm not here... I guess it's similar to how people worry about kids their whole life, a feeling of dread for when you won't be here to take care of them.
That's a solid plan man, hopefully there's one person in that group that finds the same passion you have about the charity so he/she handles it with the same love and dedication you do.
21 years, damn...
Thanks for the beer!
When you get to my age, I bet it's also going to be in your thoughts my friend.
I still have a few community projects on my list that I need to launch, but our finances are very tight.
The first one I will show you below and then I have a community bakery that is in my planning stages now. The poor people get old bread to eat and we are going to train them to male their own fresh bread.
Then I will also need some land to train petty criminals some skills in order to turn their loves around.
Oh and a few other projects, but no space here.
The formal name of @papilloncharity is The Papillon Foundation and here's our first new project launch in action. This popular project has taken off to the moon.
https://www.netwerk24.com/netwerk24/za/distrikspos/nuus/teaching-learners-coding-20220119-2
Cheers and have some !BEER
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Good read again!!
I guess 3 figure is worst than 6 figure hell. I experienced 3 once and never been in 6. Most of us are probably in 4 to 5 figure hell. Which is average hell I guess. 😅👹