BITCOIN MANIA! - Dave Ramsey Rant
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- เผยแพร่เมื่อ 12 ธ.ค. 2017
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You’re right Dave. It’s all about trust. I have zero trust in my government. More trust in a decentralized network
He doesn't know what a decentralized network is, he is a trumptard!
@@dariocatalani I think you got that the other way around bud.
Hahahaha
Do you still have boo? 🤣🤣🤣
@@dariocatalani you aren't very smart eh?
Mr Ramsey,
You have been my mentor for 3years now. I am from Nigeria, and I have been able to pay up my debt of 4.5m naira, last year after listing to you. Thank you and God bless you.
Congrats. I had to look up the exchange rate to make sure that wasn't like $5, but congrats.
elmateo77 😂😂😂
Nice one Odogu
@@elmateo77 LOLLLLLLLLLLLLLLLLLLL
@@elmateo77 Lol. Well you should give him another $5 and make him a millionaire
This didn’t age well... 🤦
📈
It will. Just wait a little longer. BTC is not a commodity and has 0 intrinsic value. Keep buying your tulips.
@@Dunve its a STORE OF VALUE just like Gold has been... multi billion dollar companies are holding BTC instead of USD which is becoming more and more INFLATED!!! Dave was wrong and will continue to be wrong on this subject!!
@@georgeoy932 You have no idea what you're talking about. How can something be a store of value if it has no intrinsic value? Smart money is not holding BTC as a store of value but as a speculative buy during a mania. Watch the liquidity fall out from under you soon enough.
Gold is a commodity, has alternative uses and hence has intrinsic value. BTC is fools gold
To be fair he was right... going to drop in short but would be good in long term....
This did not age well
Its still aging..... Be patient. :)
They have no idea
Its not over. Were still in the mania phase
I would cry if I lost my chick Fila biscuit
Bayousteelers26 😂😂😂😂😂
I think this is my favorite comment 😂
Me 2 they are so good...😂
I would cry too, they cost more than a dollar if you buy them single
Yea hey what is that? Is it a biscuit (cookie) with chicken in it? I’m so confused.
"If the average Joe knows about it then it's already too late"
Ripple XRP and Im not Joe
wreck'em tech that’s called occult philosophy, The idea of insiders only... and it’s not only false it’s also against God.
The internet was open to the public since 1991. The dot com bubble didn’t happen until 10 years later. In between those years people knew what the internet was, but not how it could be used.
I’ll let you figure it out.
@@bambur1 my man
What do you think about your comment now
It’s at $35,000!!
Now 40k
Now at 31
And back to 37k
47k now 🚀🚀 thank you TSLA, once when the institutions start to pour in we are all going to be rewarded
51
Ask dave his opinion today as it passes 32,000$.... and they keep printing UsD!!
40K
Text her :"what'sapp:
+1 6 4 6 4 9 4 4 7 8 4 .
61k
60k
who else is all in crypto in 2020? :D
I am. Quite Bullish. 👍🏿👍🏿
@@nnggwwuu chainlink 1keoy !!!
@@MrNeedleslikes2skate XRP and Tezos as well
All in.
Bullish with 5% of my net worth in it. About 10% in precious metals.
I respect this gentleman but he doesn't know or understand crypto!!
1% of your net worth could be worth the risk. Diversify.
Louis A. McCaII II I agree with this...if you have your debt paid and emergency fund. I know that could be contrary to popular thought, but folks in his audience need to be making sure that they have retirement investment inline before dipping into recreational investing, thoughts?
Regardless of if you have your debt paid and an emergency fund, consider what 1% would have done for you when we all knew it they were $200 each, or $1,000 each. At the end of an investment cycle it is easy to say it isn't worth it. 1% is proportional and a very small amount to everyone by definition of proportion. All I am saying is that investment is one way to expedite relying solely on hard work and patience. I do agree with you that those who are trying to get to debt free/break even should not be involved in recreational investing, but calculated investing is different. If bitcoin is news to people, then so is investing and I agree you should do anything you do not know about.
Louis A. McCaII II all good points.
Louis A. McCaII II only fools diversify
Diversify into what? Bitcoin, nicknacks, tulip onions?
This video was two days before bitcoin’s all-time peak... timely
you see one financial bubble, you can sort of see it happening again. I've seen people investing in Beanie Babies, LuLaRoe leggings and a bunch of other nonsense. Dave's older than me so he's seen more examples. Bitcoin's not much different.
watching this in December 2020 🤔 🤷♂️
@@itsDEWgan 🤣
Every single person who sold upon Dave's advice, lost huge gains.
better cash in at the nearest afghan 7 eleven.
@@applecore8978 not sure what an Afghan 7-11 is but I'd rather cash out instantly on my phone.
Just drove by a casino , parking lot was full as usual. At least the buffet is good
Steve Stacy I work in one, the players are known as retards
Mark Rampersad well if somebody let’s say knows how to play blackjack in his favor you get rid of him.
All thanks to Janet foreign exchange for helping me to trade my $400 into Bi†coin and I was credited with the sum of $5400 after seven working days, seeing my money growing fast with my two eyes, of my trade with her now I’m debt free I can settle my bills without even touching my paycheck I’m so happy with Bi†coin life is easy 😊❤️❤️
Text her :"what'sapp:
+1 6 4 6 4 9 4 4 7 8 4.
$100 in ETH in the beginning of 2017 would be $9000 today. There has never been anything like this before. Blockchain is here to stay.
Eth is $1100 today!
@@lizzymartin6916 2.1k now
3000 now
How about now? Lol 😂
Is it? On wich principale do you base youre assomption? Block chain is a nice techno indeed, maybee not for currency
“Currency is based on trust.” 🤦♀️ ugh. He just doesn’t understand and he’s not trying to,
He is saying that all ‘money’ is, is something that everyone agrees on. It’s just a symbol and the value is whatever society agrees upon. He seems to understand perfectly.
This will ALWAYS age well.
It still has aged terrible
And as of today it’s $48K.... crazy. But how much is our dollar worth when the deficit is $28 Trillion. That number is not imaginable.
"Most people loose money chasing easy money." lol. Most people work hard for the rest of their life for hard money and still have nothing to show for it. I will take my shot thank you.
Lol
Yep
Are you rich now
Imagine the amount of people who would've made life changing money if he wasn't so negative about the newest asset class
lol I know right?
Right
But how much have people lost since November 2021, but not me I'm still figuring it out!🤠
im over here dying laughing at this LOL!!!!
Dave, you must be really fun at parties.
William Baker lol
He's rich. That's fun!
Did he strike a nerve?
spot on
People here are saying "change with the times" should realize that it is what everyone did in 1929, 1999, and 2008.
Nibelheim 1999? You mean the dot-com bubble? I remember that. The whole world realized that the Internet was just a fad.
@@SynthApprentice -- fad, eh? Try going a DAY without it. You can't.
@@silverstake88 Whoooosh!
Now we have a solution to the 2008 bank problems. Regulation is about to catch up with technology.
silverstake88 he’s talking trash. People used to say the same things about the internet. I believe warren buffet said something like “people don’t want to stare at screens in their house”
The point is, yes billionaires will stick with what works, but they can also be blinded by the next big things
Dave bought high & panic sold at a lower price.
dazhibernian I'm almost 100% sure Dave didn't buy Bitcoin at all.
ahaha yes
fomo and panic selling 😂😂😂😝😝😝
How you know? he's secret Bitcoiner...lol
dazhibernian FUD!!!
Dave hating bitcoin is one of the most predictable things of all time :D
All thanks to Janet foreign exchange for helping me to trade my $400 into Bi†coin and I was credited with the sum of $5400 after seven working days, seeing my money growing fast with my two eyes, of my trade with her now I’m debt free I can settle my bills without even touching my paycheck I’m so happy with Bi†coin life is easy 😊❤️❤️❤️
Text her :"what'sapp:
+1 6 4 6 4 9 4 4 7 8 4.
Give me the timestamp that proves that he’s hating it
This is the first time I've heard Dave say that bitcoin could succeed in the long run. All of Dave's comments are very valid, and I'm a bitcoin advocate. Only invest what you can afford to lose. If you think you'll make money in the short term you will, and if you think you'll make money in the long run you will. The people that try to play the system, or invest more than they can afford will lose.
My feelings exactly!🤠
Mortgages for Bitcoin? Sounds like the next bubble.
A guy sold his home last year and used the profit to buy bitcoin. He is a multimillionaire now.
The problem isn't people getting into bitcoin, the problem is clueless amateurs. Folks need to know what they don't know. I'm making about 1% returns a DAY, fully vested.
well, i hope that guy will sell it because he's only a multi-millionaire on paper.
Vile Nation Gaming he still took a gamble with his money
I would do that in 2022 if you could. Would love to owe my morgage in bitcoin in 2022 when it is a million per coin then pay back the mortgage in 2024 when it is $100 (no not 100 mil just 100).
And..... some people got burnt hard the past month. He called it.
A lot of people "called it" doesnt mean anything when bitcoin has been in this cycle since it began
So yeah you where saying?
@Doctor Squidman 😂😂😂
Oh my!! They left this up? Embarrassing
All thanks to Janet foreign exchange for helping me to trade my $400 into Bi†coin and I was credited with the sum of $5400 after seven working days, seeing my money growing fast with my two eyes, of my trade with her now I’m debt free I can settle my bills without even touching my paycheck I’m so happy with Bi†coin life is easy 😊❤️❤️❤️❤️
Text her :"what'sapp::
+1 6 4 6 4 9 4 4 7 8 4
$15300 today. Sorry Dave. And BTW it's not get rich quick. It's a sound investment over time.
$18,477
$21000
$23,800
$27,083
@@mattc1698 yeah, BTC is here to stay. I get why Dave doesn't like it,but he is wrong on this one.
We've made money on Bitcoin. The block chain is here to stay. Can't speak for Bitcoin, but the block chain is here to stay. Who knows where Bitcoin will end up. But, you should not borrow money to invest in crypto.
Ryan Lewis Yeah and quantum computers break block chains. Just FYI
ASMR SOUNDSNOW Everything can be broken. That's not the point of the block chain.
How do u invest in blockchain
You havent made money if you bought in when this video was made (December 2017).
Change with the times or become outdated like Block Buster.
👏👏👏
Basic principles don't change just because the technology changes.
Rodney Fury LMAFO you right
Bitcoin is a currency so why can’t I buy stuff and why do people keep there bitcoins or trade for there home currency??
or Blackberry!
Money for the people!
He had no clue what he is talking about
6:30 !!!!!! WORDS OF WISDOM
If you in it , be in it for the long haul... Get rich quick = Get poor fast
Absolutely.
Nope a lot of people are doing well buddy
Im placing my whole 401k on black. Wish me luck!
ELBandido Good luck ,you should be able to a faster return than 401k lol
So your 401K investment is like buying lotto tickets. Hope you like bologna in your old age.
update?
@@DavaoXCEvents He can't update, he committed suicide (at least financial suicide).
@@llothar68 lol that is hilarious
Dave ramsay, keeping people poor
He's softened his tone a lot on this subject.
I'm going to quote Dave: "You only get hurt on a roller coaster if you jump off". This is the same, if you understand what bitcoin is and believe in the technology (most don't, they buy BTC for the quick profits) and you are willing to wait 10 years until it stabilizes, you should not be worried about price fluctuations.
You have 2 options and and 2 options only!
1. Buy low, Sell high get rich or hodl and get rich
2. Don't buy, miss out and regret later
But also you should never invest more than what you can't afford to lose.
Alpha SQUAD official uuuhhhh, everyone thought this same thing in the stock market 10 years ago.
If you think the only outcome here is to “win and get rich” you’re what they call “dumb money”
That sounds super easy. Can't imagine it actually works that way
3. Don't buy, invest in a mutual fund instead. When the price tanks later, look at how much your investments have made, take a drink of coffee and smile.
Alpha SQUAD official same as casino
Very true, I always tell people invist money that you don't need, in the sense that if you lose the 1,000 you invested your life won't be affected in anyway. Invest money you have laying around never invest money you need for rent food ECT
I think it's funny that there hasn't been any comments since this video. It did drop.
MatrixParadise haha I’ve noticed that too.
well, bitcoin can be shorted now with bitmex, cboe, and other exchanges...Hard to move or roll 401k money into it though to this day. We will see what happens with Baakt and or an etf in 2019-2020
Annnnddddd it’s back up again.
$27,000 per BTC now. That a good enough comment for you? lol
Back to comment sorry buddy
Someone correct me if i'm wrong but Borrowing money to invest it is what lead (atleast in large part) to the stock market collapse that lead to the Great Depression.
Beelzebubbles. Yes, debt always leads to depressions .
And the housing market crash right?
Essentially yes, Cheap loans made expensive homes more easily obtainable and lots of folks who had no business buying big houses were allowed to get in way over their heads. It was a perfect storm.
Yeah the last crash happened because they let everyone go into debt. Poor people were buying houses. A recipe for disaster! To leverage debt should only be done if you know what you are doing and with something that makes you money and makes the bank money!
Beelzebubbles It wasn't cheap loans that caused the housing market crash. It was subprime lenders that gave money to anyone with a pulse.
Blockchain technology will change the world as we know it over the next decade. You SHOULD invest something into solid blockchain technologies (ones with valid use-cases and fundamentals), but only if you can afford to. I 1000% agree with you Dave, a lot of people are going to get burned here. A lesson learned the hard way, but I will also say this is a once in a generation type of opportunity. Do your own research and make an EDUCATED decision.
watching this in Nov. 2018.
the coins came down in less than 12 months!
how many got bitten ?!
They're not coins. They're bits.
Spot on!
This is the story of the tortoise and the hare. The hare is doing great right at the moment but the tortoise will be the winner.
I agree 100 percent with this man I also don't gamble it's just a waist of money. It's not worth it.
very nice ! learning here !!
"Wheres the trust?"
Very valid question. Bitcoin operates on a blockchain network which means there is an immutable ledger kept of every transaction. You can trust it because there is a ledger kept of every transaction. You cant send more than you own because the ledger has kept track of how much bitcoin you own.
I'd also argue that it's more trustworthy than a bank or government because I can personally account for every Bitcoin there's ever been and will ever be. No need to trust a bank or government with control of that :-)
David only understand Banks game,the old game at that,we are in a new era.
Boy did this age well...Sometimes I wonder about giving financial advice on something you have no understanding of. I'm extremely disappointed in Dave and his unwillingness to fully understand what cryptocurrency is or how it affects our world today and 10 years from now.
fax i wish he was more open to it rather than just shutting it down. but because we arent multi millionaires apparently we cant have an opinion
I would like to understand it better. I have tried to educate myself but still do not understand it as well as I would like. Can you enlighten me.
"I think it will work long term, but some people are going to get burned between then and now". Nailed it 👌
Thank you Dave i needed that!
Dave was right and no one listened 😂
This....Didn't age well
Thank you for teaching!
What's the process and limitations of cashing out bitcoin for legal tender?
You and Peter schiff finally agree on something lol.
😅
Both wrong fools who won't admit failure
This aged well 💀💀
And all the morons were in denial. To the toilet. 😂
Lol. I listened just for that reason.
But fair enough, he’s just on the defensive end of the scale.
great info dave thank you
Thank you Dave. I’m not interested in bitcoin or any of the other things that you mentioned. My wife and I have come too far in becoming debt free so that we can retire with dignity. Thank you again for sharing your life and knowledge with me and my loved ones.
Glad that worked out idiot
@@LC2460 They're almost certainly poorer now than they were 🤣
If you don't buy some Bitcoin, well then you can have fun staying poor.
I think you should do what you want. Dave gives us a ton of advice, follow what you want. I think his point is that the crypto currency trend is so high risk and people are not treating this with the care it requires. Think of his audience - lots of folks who are trying to build a life and make safe financial choices. Stock market/Bitcoin are volatile/high risk and that's not conducive to the risk averse attitude towards financial success that he suggests. Most folks can't afford to play big enough to make a big gain. Why I say can't afford is because if most of us lost $20K in Bitcoin that would be a setback. People taking out credit to buy crypto is insanity because you've doubled your loss if things go south! You no longer have the money you borrowed (nothing to show for it or can sell) AND you still have debt.
Again I think his issue is all about the risk to his audience. If you have all your ducks in a row and some extra cash to throw at it, that's different but folks are out here going bananas trying to buy these things.
Well said - I agree 100%
I love these comments. Yall sound like angsty teens telling your dad its not a phase.
Dalton Brown ahahahaha exactly
ITS NOT A PHASE DAD OMG!!! ༼ つ ◕_◕ ༽つ
Unsophisticated investors
_"but crypto isn't going anywhere"_
WRONG! It's going up! To the moooooon!!
😂😂😂
Thanks for this concise, biblical take on bitcoin. Sharing your video with friends.
You have changed my life Dave thank you so much
And... Dave turned out to be right on this.
One year ago was another buying opportunity missed now is close to 5300 and with low volatility
It's at 8k now again ;) new ATH by 2020
@@liz4rdsqu4dx18 funny thing is id say youre wrong.. ath by 2021.. but seeing we are almost at 16k with no resistance until 20k you may be right.
@@TJReis2024 19k now... crazy how things change
Well...
This did not age well... at least for now
Oh yes it has aged well 😂🤡
Gotta admit good ol' Dave surprised me with his recommending prudence and commenting on how, in the end, it might all work out ok for crypto currencies. I just expected him to foam at the mouth and yell at the me to stay with the 12% mutual funds lol
I'm with you Sir Dave!
And you're POORER for your ignorance
@@kwamebushman606 wow. it must be hard being such a rich savage
I love all the "financial geniuses" commenting here who are most likely swimming in debt, can't manage their money, can't spell or use proper grammar, but own $500 of Bitcoin and think they're the next Warren Buffet. HAHAHA!
And they probably live in their Mom’s basement
You talking about yourself?
Nope! We're doing just fine, thanks for asking though.
If that makes you feel better you can think that. I think you’d be surprised how many people in this space have a net worth in the seven figures and simply enjoy the technology and it’s potential.
Shane Skull there’s nothing wrong with investing in technology and potential but taking out a mortgage to buy bitcoin is a little crazy. I can see investing a small portion of money to diversify. But the “value” of it seems inflated. And it’s not like I can spend a bitcoin to buy my groceries.
I work in the financial industry and have been a long-time investor in real estate and equities. When my relatives, friends, and the plumber I hired the other day are all talking about Bitcoin and how they're going to make a killing, there's a pretty good indication there's a bubble. The only way Bitcoin holds value long term is if it literally becomes a common currency like the dollar. Currencies go to zero and become obsolete all the time. There will be multiple other crypto currencies that will spring up in the next few decades, and is anyone confident that Bitcoin won't become the MySpace of cryptos? It is complete speculation at this point, and many people will learn a hard lesson about investing when the gig is up.
Cryptos have an odd adoption path where retail investors are getting in before the institutional investors due to its low barrier of entry, decentralized nature and odd origins. We are just now seeing serious institutional adoption with the recent CBOE futures market and upcoming CME launch. Bitcoin may very well become the MySpace of cryptos or it may cement itself in place as the Google of cryptos, only time will tell.
I understand where you're coming from although I wasn't trying to use too deep of an analogy other than Google's unwavering dominance. I suppose Twitter would be a better example as it remains in a postition of power through network effect (something like Metcalfe's law) and not necessarily through technological superiority.
+Mike Hughes, that all said can you name me another market where you could recover your seed money and more than double your portfolio in recent years?
Once you recover your seed you care why if it goes to zero? Once you cash out profit so $0.00/coin is still profit why not pay?
Honestly can you name another market place were some one with $100 can do that?
Mike, do any of your investments pay themselves off entirely in 2 months and provides passive income with zero overhead for the remainder of the year? Mine does, and I don't have to call a plumber or fix any light switches.
Yeah I bet they were saying that bubble was about to pop many times each month up until now xD high risk, high reward. However, if you know what you're doing, I do t really look at this as high risk. Besides that, Bitcoin has already hit multiple bubbles, popped many times. Always keeps climbing though, just like Miley Cyrus. Gotta climb dat mountain!
Dave- long time listener with much respect for you. You're on the mark on most every topic I've ever heard you reason.
However, you seem to have missed the entire point of Bitcoin. It's a movement for decentralized, peer to peer money, not controlled by politics and the financial elite, but instead- unbreakable math. Sure there are people jumping in to make a quick buck, but there are knuckleheads in every market. Instead of dismissing the most intriguing and honest currency ever created with a strawman argument, DO SOME RESEARCH! If people want to buy bitcoin, encourage them with helpful advice like dollar cost averaging, not investing more than they can afford to lose, so on and so forth.
I invested sensibly in technology that I believed in, and happened to get rich doing it. I don't care that strongly about the money as I have chosen to live like I did before. But the technology and the freedom, Dave, (please) look into it.
I don't care if you give it a glowing review or not but if you're going to criticize it, do so on actual facts, not by giving it a superficial look and calling it a get rich quick scam. Come on Dave, you're way smarter.
He didn't call it a get-rich-quick scam. He called it a gold rush, fueled by people trying to get rich quick. He also said that it will likely work long-term, but not until it stabilizes (which means no more getting rich off of the rapid rise of Bitcoin prices, since its value will actually be stable).
I couldn't agree with you more. I also love Dave Ramsey, but this isn't about short-term gains, it's about FREEDOM. Dave seems to completely miss the point. Just don't put more into crypto than you can afford to lose. Thank you for your thoughtful comment.
I've been following Dave's sentiment on Bitcoin (and other crypto-currencies) for the last several years, wondering if eventual understanding of the technology would shift his opinion. Not regarding quick gains/ losses, it would be great to hear Dave's opinion on the ability to send money to anyone, for anything, anywhere in the world- almost instantaneously. (Several cryptos can even do so more efficiently and more privately than Bitcoin.) I'm not suggesting he should begin promoting crypto as an investment but would enjoy hearing intellectual discord on actual facts of the tech, and the implications of blockchain technology moving forward.
Goverments are allready talking about regulating cryptos. Guess what hapens then. They can also put high taxes on.
I'm not sure what your point is but I'm interested to hear a more detailed explanation.
I am not trying to be rich.... I just want to invest a small percentage into bitcoin and pay attention to it's value and if I earn any returns, use a percentage of my return to build more wealth... I am a minimalist who just wants to not worry about money while at the same time not let my dollars lose their value. I might wait until the price drops
Speak for yourself-I'm trying to be rich.
Risk Management 101: If I can afford to lose it, then I can afford to invest it.
Use bitcoin as a way to diversify your portfolio id say take 10% of what you would invest in the stock market and and put it in a bit wallet
Mark Cuban has done the same thing.
so hard for older people to understand the change that is happening people don't have faith n the system also helps people without access to banking you can run a business without a bank and that scares people
10% is what I do
Invest in companies that our actually changing the world. This is so much bigger than cryptocurrency and Bitcoin. Check out projects like Power Ledger, Substratum and IOTA. Bitcoin is small potatoes in relation to everything else happening.
More like 1%
The rush isn't in the losing, the rush is in the winning lol. And I feel like it's a timing thing. Overall the chance of losing is larger with this crypto bubble as you hold ,but if you chance it, put a percentage in where you can still be okay if you lose it-- get in and out on the upswing, then I dunno what's the problem if you understand it's a risk like any other stocks. But I'm not the professional so, i guess.
Shamaiah Kinlaw it’s a currency but people don’t use it as such that the problem
Mate was AHEAD of his time 👌🏿
Right Dave. It’s CURRENCY. Produces NOTHING. Great way to buy things but NOT an investment.
He was right
Dave’s words came prophetically true... he spoke at the time bitcoin was at 19k & now it’s a little over 6k
it wasn't prophetic, it was common sense from someone who'd seen other investing bubbles.
And it's back at 27k in 2020!
It's at 31,800. It's was just in a cycle
$60K now
Since I was young, I have never taken on debt and saved religiously and I told to myself if I ever see an opportunity I will stop being cheap. I have read and researched bitcoin and decided to put 15% of my savings in it in February 2016. I have had many many rough days but did not sell. And it was the best and luckiest thing I have ever done.
But If I were to take on debt and not save I would never have bought any. People ask you "are you gonna get rich by not drinking starbucks?" well it is not about getting rich but yes.
Do you still have it?
Ramsey: "No one get's on a roller coaster unless they jump off the middle of the ride🎢
Bitcoin went for $20,000 to 4,600 and dropping. Dave was right, people got Rekt.
Where is it now?
Is like 9,700 right now
@@GregRickard 17k
In my opinion if you have decent investments, 5 or so percent of your investment money in crypto is fine, so long as it's money you assume you've already lost. If it goes to 0, you were banking on your other investments, If it continues to moon rocket, you could be much richer than you bargained for. 1% to play it safe, 5% for most people, 10% tops, imo. And never let anyone else hold your coin, use your own private wallet, preferably hardware.
my thoughts exactly, spread out your risks
Cold hardware to be specific
tipoomaster Hardware wallets are the way to go. Just got my ledger nano from amazon 🤑
I know chick fila is expensive but wow that's an expensive biscuit haha
2022 says that this is spot on and always will be
What you say is true but that happens with investment and wall street also . It also happens with the precious dollar you love dave.
How does it look now Dave?
Last time I thought it was a bubble it was at $600. Now I just think it's on the path to be a legitimate currency. Especially after researching it. Didn't expect Dave to change his tune about Bitcoin as much as he has, but that's part of the reason why I watch him. Do your research. Don't be those people I see on my Facebook page buying Litecoin because it's the cheapest or buying Bitcoin through debt. Do. Your. Research.
This happened so quick I have no idea still what's happening.
Poker is a very complex game, which should not be categorized under roulette and blackjack.
When someone puts in the work to study and build a very strong strategy to beat their opponents, it becomes like a game of chess, with a 20 to 30% luck factor. If I play you 1on1 for 1,000,000 hands. You will think you have the worst luck in the world. The truth is your strategy is weaker and that's where the edge comes in poker. It's a beautiful game. Extremely competitive and very fun as well. 😎♣
Play me!
The comment sections on anything related to BTC recently is bananas. If you are long BTC great but don’t be so ignorant to bash and call skeptics idiots. They have a lot of good reason to be skeptical. Bubbles have really specific identifiers and warning signs many of which BTC might fit the bill for.
Some of the signs:
1) Extreme future valuations. I have seen some expecting BTC to rise to 50,000 next year. That would represent a 150% profit in one year after the 1000% increase this year. No assets in history have rose that much so quickly without some massive pullback or collapse.
2) Not all, but many are using an absurd amount of leverage or selling off cars and other possessions to buy BTC. This is not only stupidly risky but it also inflates the price way beyond what the asset is actually worth.
3) Retail investors flocking to an asset can be a sign of a bubble. Look at the dot com bubble when all of a sudden everyone was day trading internet stocks. Or 2008 when everyone was quitting jobs to become a mortgage broker. Just this week I have had two people tell me all the money they are making day trading BTC and other cryptos.
4) An increase in fraud. There are over 2,000 alt coins. In an industry with no regulation this is scary. Many are likely just pump and dump schemes. There is also a strong possible that these alt coins and some of the sketchier exchanges are taking money that is supposed to be set aside for customer withdrawals and putting it into BTC only further inflating the price of BTC.(Obviously this last one is impossible to prove but it is my suspicion)
Personally I think that block chain technology is going to be revolutionary in the way we exchange value. I’m just not sure BTC is the one though. Again, if you are long BTC in a responsible manner with a diversified portfolio great. Just don’t bet the house on BTC and call us skeptics stupid.
*also if you read this whole rant good for you
"I have seen some expecting BTC to rise to 50,000 next year" **sad trombone**
He also says it's easier to fit a camel though the eye of a needle that for a rich person to enter the kingdom of heaven... You just pick the quotes you like
👏
That's bs... God wants all of His children to prosper financially and in each and every way. Tired of that being taken out of context.
@@Anonymous-yu5ih does he want some of.his children's n to be richer then snot...and have others starving and dying?
That's where we are at
@@kevinerb6268 I really feel for the poor
@@kevinerb6268 Yes it is unfair and terrible
Amen Dave
Trust, along with the fact that the United States government will only accept US dollars for people's taxes. If the government banned Bitcoin tomorrow, it would be worthless inside the United States because they couldn't be exchanged for dollars except on some black market.
if that happened, convert it to another currency (like the Yen) and change that back to the dollar. I love how you spoke about taxes... which the IRS is going after coinbase for the names of users that have traded over 20k because they want their piece of the pie.
Diego Mejia
I've made close to $400k in less than two years and it's tax free.
Pretty good for a $6k investment.
And I did it without buying bitcoin directly. Heck I wouldn't even know how to buy bitcoin.
It’s not a currency yet you need to understand this. Why accept bitcoin if you could not even tell the worth of it
I love what you say Dave, but I've made 5 months salary (and counting) this week investing in the blockchain stocks of Overstock and Riot Blockchain (sold the latter, holding the first). Awaiting either my punishment or early retirement...
whatthree16 but did you invest money you didn't have? Or did you have some freed up capital that you used?
Doing darn well here too.... I think the target audience for this video should be the folks that are dumping in their life savings speculating. The lower risk is mining or contracts.
RIOT is going up like gang busters!!
Here too. Dave's been saying "don't trust bitcoin" for a while now while the whole time it's been going up and up. It's gone up at least 5 times its value since he's been steering people away from it. So now rather than admitting he just couldn't recommend it because he couldn't call it he's going on about Proverbs. Come on! In my wildest dreams I couldn't have called this crypto rally either. But don't make excuses and keep trying to justify your original position as being right all along because of some scripture written thousands of years ago. Just say you were wrong but that you couldn't recommend because at the time you couldn't call it.
But if the US or Japanese government (who make up over 50% of the bitcoin market) decide to regulate or close major bit coin exchanges (like China did), the market would crash. Just to illustrate, the prices dropped over 10% when China got rid of it
7:08 Now he hope it survives after he was proven wrong the first time lmao
Wow this is surprising. I would have thought Dave was a crazy rebel haha.
Dave has the last laugh today. Bitcoin down 40%
The same guy who told his entire audience not to buy in @ 500?...
@@Infinityover21million how's that $3500/1 btc looking now?
@@llewodcm20 Id say it was a good entry point so yea its looking pretty good.. thanks for the update.
And a year later it went up to 10k a coin
2020 it's at 27k!
Dave said this and Bitcoin was 16,400USD. Today September 23, 2018 it's 6700USD. I guess he was right: "He who hastes to be rich will not go unpunished.". :D
what about now?
@@sadisticgirl_ still about 5k USD short. maybe next year after the vaccine.
October 26, 2020, it’s at $13,600 and going quite bullish. In it for the long haul. Not anticipating for quick wins.
December 23, 2023 Bitcoin sitting at $43,800
4 student loans paid off currently after Litecoin went to the moon. Just my experience. Cardano and Verge are good looks. Microsoft penned a deal with IOTA among others. That’s another to watch.
The Iota story was a fake. They replied to clarify that there are not "partnering" with microsoft. Rather participating in one of microsofts programs. Very different.
I'd guess the bigger, broader investment opportunity will be in blockchain, decentralized fault-tolerant ledgers, and any companies that can development them. And on a related note: blockchain developer jobs are popping up this quarter with very attractive salaries.