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What are you referring to with the phrase "status symbol"?

I can't connect it at all to your listed points. An Olympic medal is about obvious a status symbol as I can imagine but it can't (meaningfully) be bought or transferred.

The status signified with a knit sweater is membership (and good standing!) in a caring family with elders not yet fully subsumed into their phones.

People, acquaintances and strangers alike, frequently comment on the knit socks I often wear, ask after who made them, and all of a sudden we're on "how's your mom" terms.

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> it can't (meaningfully) be bought or transferred.

https://www.ebay.com/b/Olympic-Medal/27291/bn_55191416?_sop=...

> People, acquaintances and strangers alike, frequently comment on the knit socks I often wear,

Ok, that explains pretty much everything about your line of thought.

Thanks.

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(edited for clarity)

> https://www.ebay.com/b/Olympic-Medal/27291/bn_55191416?_sop=...

Of course you can buy an Olympic medal. You can't buy the status conferred by the medal (of Olympic champion / nth runner up).

> Ok, that explains pretty much everything about your line of thought.

I don't understand this either. Are you insulting me?

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Buying someone else’s medal is not a status symbol. That is why they included the word meaningfully.
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I don't care about the opinion of kids.

I'm also completely unimpressed by someone wearing a Rolex though, so different mileage for different people.

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You should be able to understand the definition of a common term such as "status symbol" though.

Understanding words does not require being impressed by anything, nor caring about the opinion of kids.

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Different mileage for different people.
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If most people are thinking "whoopdedoo... you clearly have more money than sense" when they see your status symbol, is it still a status symbol?
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Status symbols signal different status in different contexts. Some contexts (mostly lower middle class and below) are impressed by Rolex watches because they are expensive and the struggle for money forms a collective experience.

The old rich doesn't give a shit about Rolex watches beyond noticing the newb rich using them to tell on themselves.

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And some people just don't give a shit about a fancy watch no matter how much money they have or don't have.
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It depends, if someone fundamentally believes that having more money than someone else means that person is of higher status, then it is.

If people don't consider that someone with more money is of a higher status then symbols of that wealth aren't meaningful.

I think a lot of people have an ingrained belief that "more money == more status"

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