I Didn't Think This Would Happen This Soon (More Crypto Bankruptcies)
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- เผยแพร่เมื่อ 30 พ.ย. 2022
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The arrogance and financial illiteracy of fiat bros is truly astounding.
"Backed by the gov"😂 you work for it, the gov prints it
>the gov prints it
Hmmmmmmmmmmm
@@Brandon-xp1obbasically it’s not backed by anything.
Aren't you the same guy that said not to buy bitcoin at $500 ? How did that work out for you...
Boomers with no understanding what bitcoin is, can’t even distinguish the difference between “crypto’ and bitcoin, confidently talking about bitcoin like they have a clue. This is so cringe worthy. Don’t listen to this show, they convey bad information.
Bitcoin bros are doing fine. If you guys listened to Dave when it was at $5, you missed out big time.
this didnt age well
Bitcoin bros up 125% since this video AND literally anyone that has DCA-Ed is now in profit.
and it's crashing again.. today.
@@mumenrider862oh no. Someone that dollar cost averaged at the high 3 years ago is now up only 125%
Did not crash. A healthy correction like always @@mumenrider862
@@mumenrider862Lol. You obviously don’t know what a crash is.
@@mumenrider862 OK you stay out and leave it for the rest of us
Imagine missing the Amazon AZR7T on-going presale, HODL STRONG the public sale about to explode
I want buy it. Please let me know how I can send you money via paypal.
When you say 'explode' -- Do ya mean like FTX??
Dave is going to have a real hard time understanding when Bitcoin hits 6 digits in the next 12-18 months
Don't doubt the whole thing just because some fools like FTX failed us. We are right in time with the rainbow chart and right in time with closing this downhill for good and the catalyst to that is also there now that Amazon went ahead to announce AZR7T
Hahaha! Once a fool, always a fool.
Rainbow chart was legit made as a joke. Please tell me you’re being satirical
Rainbow chart 😂
Fake money bro.
Dude, you don't know what you're talking about. Rainbow chart???
This internet thing isn't going to work out in the long run either.
It hasn’t improved my life any really
@@peteparadis1619 well, it allows you to watch this video lol
We are right here Dave and doing great! Keep DCAing boys!
The egg on his face😂
@@Carbon_rod No kidding. I am DCA Bitcoin and DASH each day. DASH price has bottomed out, but it really is incredible living on
This is what happens when you break one of the main rules of investing: "Do not invest in that which you do not understand."
And its corollary, “Do not speculate with money you can’t afford to lose.”
@@The.Dude.Abides.theyre both good rules buddy its okay u dont have to be right yall both on the same page lol
@@The.Dude.Abides. Isaac, what are you trying to say?
And when you finally do understand it?
@@Brandon-xp1ob that’s when you can make a boatload off crypto. All these know-it-all’s look hilarious with their posts from a year ago when crypto was bottomed out. They’ll look even funnier at the end of this bull cycle.
We are still here Dave check back on this in 3-5 years
This video already aged like fuggin milk. If you would of bought 1BTC at the time this video was made you would be around $21k in profit. lol!
The only real take away from this is "not your keys not your wallet"
Good luck with your USB device when what's on it is worth next to nothing.
It all has little utility and only has value because people are hoping to sell it to a greater fool.
@@oldbloke204 You're living life with blinders on, old man.
@@foxen5071 oh found the greater fool!
@@foxen5071 The irony of your comment
@@oldbloke204 I could buy your house with it though.
Update 5/19/23
Dave: So george their dropping like flies.
George: who?
Dave: The Banks
And yet, the FDIC stepped in and made all depositors whole within days, even those over $250k limit. That's what happens when you deal with banks, even the small ones if they are fdic insured. Don't think the the people in failed crypto coins are getting their money back.
@@moonbalanceddit wasn’t “failed crypto coins”. That was an exchange.
because crypto bros borrow money to buy crypto and lose both ways. lol. go get some no money down property... that should be coming around again.
@@mumenrider862 there are people who use leverage in every form of investment. What’s your point? And not sure what you mean by “lose both ways “. Making money in crypto is simple if you know how the cycles work.
also, bitcoin reached a high of 73k
Thank you Dave for setting the bottom. See you at the next halvening!
❌🔑❌🧀
Ha. Exactly.
Exactly. This like the 3rd or 4th time there’s been a correction in the cryptosphere?
He won't get it. 🤣
@@chris26plus So what's the "truth" then eh?
Nothing new here, it's all happened before.
George is the only co host that Dave actually listens to when he talks.
And Rachel
That’s because he just parrots dave
False
For the most time of this year if you would invest into anything it is not doing very well I mean that's pretty obvious. But the launch of AZR7T plays a different game and it is less affected by such moves as the utility is simply too strong. Just my bet
Bot account ignore
Amazing that they don’t understand the difference of shitty company who stole people’s assets, vs the assets themselves actually being bad
I thought these were financial experts
😂 my thoughts exactly. A 2nd grader could see that
i want to listen to this ten years from now.
Same result
It's going to be worse and Dave's words will have an even bigger I Told You So effect
18 months
@@MLee-fk9ks link?
@@MLee-fk9ks He's human I suppose
I look forward to checking in on how well this video ages 5-10 years from now.
Not well....
He will delete it at some point to avoid the ridicule
Yup!
I bet he's buying all the way down
😂
Probably better than the SBF videos promoting FTX.
2014 dave said not to invest. It was 600ish when he said not to buy. Its now 2022 and its 17000 dollars. Great advice Dave.
You imply that a person would have made lots of money. In reality, they would have lost the 600ish.
Lol you missed the point
@@christaylor8337 If you take out $600 when it is $17000, then you are covered
No body lost money that had their own keys
@@godgivesbelovedoak keep holding brudda
One of the best investments is using your time to develop skills for life- growing food, cooking, home maintenance, sewing. This is alongside more academic and entrepreneurial pursuits. As well as the obvious benefits it gets you outside and active. Practical life skills will help you whatever happens, I wish it were taught in schools more.
Not your keys, not your tokens. Get a hardware wallet instead of leaving them on exchanges.
Exactly! I use trezor and exodus
Do they understand that these are exchanges? People who put their assets into soft and hard wallets are fine
That does not fit their narrative.
They probably don’t want they’re listeners to understand that.
@@J19118 I agree they left out a lot of details and lost my interest when they said money is spiritual. 😑
It’s hot and cold. Not soft and hard. Lol
@@SB-xu8pi no it’s called a hard wallet.
You cant keep fast money, because it never stays with you for long, fast money isnt wealth.
As the old saying goes, easy come, easy go. Also, if it sounds too good to be true it is.
Make it quick lose it quicker… downside is always way faster than upside because you need a 100% gain to cover a 50% loss.
True...when younger I tried trading and the quick money always failed to really grow. Most day traders lose in long run. Wasn't till I did index funds over years i grew wealth.
Well this didnt age well now, did it xD
I think the best investment at this point in time is a job 😄 .
For a lot of people I agree.
C-19 2020 wants to talk
Yes just work till death and do not invest into anything for the future. Thanks. You just changed my life
Not a bad call, but I always think the best investment is a working brain. Without a brain for example, you might make money from a job, but then "invest" your earnings into an illusion because that's what shouty morons are doing.
@@lifeisgreat1718 lolll exactly
Salt was used as money in Rome because it was used for preserving food. Remember the phrase “he’s worth his salt”.
To go beyond that, the word salary means salt in Latin. So when people say are you worth your salt they mean are you worth your salary are you worth the money we're paying you.
Salary
Like I will always say, if I can't put it in my pocket then it's not for me.
You can, it’s called a cell phone.
I gotta be able to pay for my sins off the radar.
We are still here baby!!! Dollar cost averaging. $$$$$$
This aged like fuggin milk...
“…trading turds…”
-Charlie Munger
What’s the American dollar based on again?
Real economic activity.
DAVE, the new generation would NEVER kill an animal to stay warm or barter for food. They have their parents and their basement.
They wrote a check and the bank bounced. 😂
I’ll bet Dave was against the Internet back in the 90’s.
I think he literally said that when I watched this rant
always great info. thanks for sharing.
Wait... Are you saying the imaginary money isn't worth anything?
Fiat currency is not backed by anything either. Seems pretty "imaginary to me".
Lol
@@Tylauriente true, but both are clearly fiat and not backed by anything. There’s no difference
😂😂😂
@@jjwallnutts4341 Fiat doesn't mean "backed by nothing", it means it's backed by some authority, like the US goverment. Bitcoin has value by the mutual agreement of free market participants, not because some goverment says it does. That's why bitcoin is not fiat.
A fool's mouth is his destruction, and his lips are the snare of his soul.
⬆️⬆️⬆️💬....
Sounds like it's almost time to buy!!!
Or catch a falling knife.
Don’t temp me.
Yep, the greater fool rule applies.
I smell a bottom next year 🎉
@@alejandroolmos3834 The bottom always comes in December, January or February. In one of these months is when historical data shows we will see the lowest price.
Here’s the thing I will give to Dave, he’s consistent. He’s been telling people to avoid bitcoin since I remember hearing about it 10 years ago. Had an opportunity to get in under $1000 and passed cause Dave said it was funny money. Years later he’s still telling people to stay away. And for the masses he’s right. Most people aren’t going to understand moving averages and support and resistance or what a head and shoulders pattern means. But once you’re in it for years and follow it avoiding crypto is just throwing money away. It’s not complicated once you understand it.
This shows me how bad this crash will be. When this monetary system collapses its going to hurt so many people
There isnt going to be this fever dream fantasy "crash of the dollar", dude. You people have been saying this was going to happen for decades.
All fiat and all great empires die but only a fool will try to predict when. But it will happen… one day.
@@WillmobilePlus It takes decades to materialize. I'm quiet sure Romans at that time thought it would never happen. Centuries from now America will be spoken of in the same breath. Look up the documentary on the 2008 Financial Crisis and see how close we were to collapse. This is far worse now
@@jonathantaylor6926 Only a fool wouldn't prepare
@@chrissalley9468 That's a fancy way of saying you have no idea what you are talking about.
You clowns dont say this stuff because you thinking 200 years from now. You say this as some scare that it's literally going to happen next week.
No one is talking crap about the Bitcoin bros in 2024😂😂😂😂😂😂
Dave really needs to learn more about cryptocurrency.
The tulip bulb event of the early 21st century.
The guest, Graham Stephan, made people lose a lot of money promoting FTX. Disassociate yourselves from that financial 🤡.
I doubt Graham Stephen has ever written a single line of code in his life. He probably can’t even explain blockchain or how cryptography (ubiquitous in every day life) works. Therefore, anyone that took his advice did so from a place of complete ignorance. That would be no better than taking Dave’s advice without at least doing some basic math to confirm various points he makes.
We’re still here Dave 😅 PS always love your shows
I’m not sure if Ramsey has heard of a cold wallet.
How is that going to help anyone that had their money with FTX?
A wallet with nothing in it is worth nothing.
he hasn't, and doesn't care. But we know;)
@@Corkfish1 AGAIN you clearly don't understand the people who are really into Bitcoin are smart and savvy they don't leave their damn money on the exchange
@@daleviker5884 Really BTC is now over 40k how is that fiat treating you after being DE pegged from Gold in the 1970s You are losing value every second you just sound salty. Look it's cool when you move out of your mommas basement maybe touch the grass and do some basic level research you will understand the value of bitcoin it's just gold 2.0
"fake money" - literally every fiat currency
Except you can spend that "fake" fiat currency on real things in the real world, something every person not in your cryptosperm brolambohodl bubble understands, but seems to be a foreign concept to you.
@@scarpfish youre clearly a very frustrated, angry, weak man. Be more kind to others and maybe good things could happen in your life. Have a great day
@@scarpfishyou are the definition of a close minded person that has to result to insults to argue your point. Except you don’t have a point. You’re smug just like Dave in this video.
@@scarpfish hehe, well said.
@@scarpfish If you studied the history of money, you'd realize money first starts off as a collectible, then a store of value, then a medium of exchange, and finally a unit of account. We're clearly between the 1st and 2nd stages. Bitcoin has scarcity, fiat does not. Look at the purchasing power of the dollar since 1913... it lost over 96% of its purchasing power.
I am waiting for the Real Estate Bros to go bust so families can actually afford homes
Yes!
That ain’t gonna happen in CA, real estate bubbles and real estate bubble bursts are a fixture here and have been for decades. The end result is ever skyrocketing real estate prices.
Sorry - most of those bros are multi-billion dollar hedge funds like Blackrock.
Me too!
Waiting.
My son and a few others tried to get me to invest in that junk thank you heavenly Father blessing me with wisdom 🙏🏾
Yea. I invested in that junk when it was $300. Thank you heavenly Father blessing me with wisdom 🙏
I’d never ask my parent to invest in something they don’t understand.
@@Bigceap5 get out while you can
@@Bigceap5 man good for you honestly, you got in at the right time, rode the wave, and hopefully cashed out at a good time. But you didn’t invest you gambled. “Tulip mania”, “trading turds”
@@robertatkins272 it's not really a gamble if you understand it and hold it through many crashes. That's more like wisdom and courage.. it's been the same arguments since 2011..
Lmao meanwhile I'm up over 175% and it's just getting started lol
Nothing wrong with a good pyramid scheme as long as you are in and out quick and don’t actually believe your own news releases.
It also depends where you are on the pyramid scheme. You don't wanna be at the bottom. You want the top. Don't encourage people to join a pyramid scheme.
Love smug Dave
The best lesson I learned in B School was, “What is the intrinsic value of the underlying asset?”
And ROI. After I learnt how money work I won’t spend a dollar that doesn’t have return higher than what I invested.
Pretty easy, Asset = Liabilities + Equity
So, you know that intrinsic value is always subjective? right?
Like Tulips
So, what is the intrinsic value of the US Dollar, Lee Okubo?
SBF “looks like Jim Belushi from Animal House.” 🔥🤣🔥🤣🔥🤣
Just thought I would revisit this video. This video aged like milk, Dave. Dave Ramsey taking L's regarding Bitcoin for almost 10 years now. Bitcoin was $16.9k when this video was made December 1st of 2022 during bear market. 11 months later...price hit $37k. Dave Ramsey: "What happened to Bitcoin bros?" Answer: We never left and been accumulating all year, Dave.
Accumulate until it all comes crashing again. All that glitters is not gold.
@@Gwaycee Funny how you avoided that all of Dave's BTC videos have aged like fuggin milk. I posted this back in Dec. when BTC was $37k so thank you for reminding me that I need troll Dave more now that BTC is $51k. I have been in this since 2017 so I understand how these cycles work. I'm not new to the game. Looking forward to the next hard crash hopefully sometime in 2026/2027 when I start accumulating again.
Troll him. The man is so rich, the trolls cannot even touch his financial success as yet.
@@Gwaycee Oh I will troll him and I appreciate you reminding me, Gwaycee. Everyone that was buying BTC/ETH and alts back in the early days/2016 that have become whales would like to have a word. I don't give a fuck about Davids wealth 😂
Again... funny how you avoided that.
@@Gwaycee Michael Saylor would also like to have a word. MICRO currently.. $4 billion in profit. How much does Dave got?
Who said if you can’t hold it you don’t own it?
I never got into. it sounded like garbage
BUT I did what Dave says and it worked
Sounded like garbage? You do realize bitcoin is up literally 9,000,000% since it’s inception, right?
😂😂😂 $70,000 Bitcoin. Yeah more like store of value.
@@jiggytito116lmaooo Dave 🤡
This video aged about as well as you Dave lol
“Fake money” ohhh just like them pieces of paper?
we're fine and up 200% 😂
If you purchased $2,000 worth of Bitcoin when Dave made this video you would be up over $40,000 right now LMAO
We’re still here and making money!
Just checking in at $50.000 😬
I had money stashed at Blockfi for a year (in GUSD for the interest rate) and pulled it all out in March bc I felt the risk was way to great. Grant it I only had about 6k in it, but thankful I got out before the cards started falling. I feel bad for anyone who didn't but I also remember reading in the terms and conditions that if this kind of thing played out you dont own the coin, the exchange does, and they were borrowing your money and you could lose your balance.
This you were so lucky that you did your research
Also I remember I would complain under blockfi’s mentions whenever BlockFi would tweet about their “scheduled maintenances” and they blocked me. So just goes to show you 😂
@@musiclover6842 lucky?
Not your keys not your wallet
Its granted btw
Bottom signal!! See you next halving Dave!
With thumbnails like this, I think we have discovered that Dave has learned the art of trolling.
Hate to tell you "I told you so!" lol
Great video.
I wish Dave knew what a self custody wallet was...
Yep!
if you reach into your pocket and find lint and I stored my lint in my friends pocket and his pants caught on fire I wouldn't feel that I had lost anything that you gained since the item in question had no value anyway. If one day people went crazy and started paying large money for lint, and stored it all in someones pants and then everyone who was storing it had their pants catch fire many many people would no longer want the lint because too many people with it had it get burned up and therefore the person who kept the lint in their own pocket still loses value because there is no supply and demand when the object is useless anyway
Unless society craved fire then fire lent pants are the hottest commodity!!!
I don't think he will need one...
Lol who cares if you bought at 60k you still have massive losses even in cold storage.
Will you make any research videos about AZR7T
Perfect time to buy.
God bless you Dave and for your team, because of your wisdom and teachings my husband and I are almost debt free completely except for the house. We would never have been able to accomplish that without God and your thorough guidance. God bless you sir.
What is the opinion of this show when it comes to investing in farmland?
He’s been pretty clear about that, pay cash, don’t borrow.
I appreciate that you guys do not remove this/these videos (after clearly not getting it, or not condoning this asset and being wrong). Its not your way of investing or making money, but it IS A way to build wealth. At the very least, acknowledging that after you get to a certain level of wealth, you could perhaps, maybe, potentially, take a risk with a small portion of your money on a speculative asset/endeavor in the hopes it could improve your life...Im guessing that indirectly, Dave owns some sort of exposure to the crypto space via his mutual funds, with companies in said mutual funds investing in crypto or mining ect. If you understand the bitcoin halving and cycles, might just be worth it to take a chance with some cash you dont need and can watch it move
Quick easy money is never the way to wealth.
I think you'd agree that actually it is - but for other people, not for you.
@@cgo225 For wealth, I'm referring to long term. Not many people can earn money quickly & maintain wealth. If they earn it quickly, they will most likely lose it just as fast, similar to winning the lottery.
Anyone want a tulip? 😂
I'll buy a box from you in exchange for a stock share of the French Mississippi company.
That tulip would be worth $38.2k. $21.6k in profit in less than a year.
So banks in traditional financial sector have NEVER failed right how many bailouts have they had in the past 20 years? Come on guys
20 years compared to the span of weeks.
Yeah....totally the same.
Don't forget the Savings and Loan crash. That was a mess also.
Precious metals are holding strong though 😊
SBF will look good in stripes.
George is so funny lol
He keeps talking about a medium of exchange, but I have no idea how I would buy something using part of a share of an index fund
Something tells me there are many other things you have no idea about.
I love victory laps at the bottom.
Nailed it.
dying? no just buying the bottom. i just don't put all my cash in one thing. love you Dave good people can disagree.
Now is time to buy
Your comment aged well. Unlike this video lol
Yeah this whole fiat currency thing is going to workout in the long run.
It already has. Been over 100 years still works
Lol no it doesn't to many bad actors they are trying to digitize us currency. The billionaires won't let it happen because you get to see their bank accounts and they don't want that.
@@mannyjeanpierre4062 It’s been longer than that. But that doesn’t mean it’s the best solution.
@@mannyjeanpierre4062 I disagree. It's clearly not working. Our money is devalued on a daily basis.
Exactly 🤣
Wonder what Dave's gotta say about the Feds new announcement digital currency
I doubt it will be used on "exchanges"
That its money laundering?
Spiritual? You make it sound so noble.
We print dollars to fund wars and create more debt
Dave, can you give us an episode on “What is Money?”
Watch how money works cartoon
😂... "Trust"... "Greed" "Fear"...words people should study..
Dollar bills are 25% linen; so the textile analogy isn't too far off!
Monetary systems with representative value based on exchange mediums are based on some kind of commodity to hold a value humans trust as real. A monetary system based on software digital storage for it's value is hard to understand how it lines up with any kind of exchangeable commodity .
I’m utterly shocked that institutions based on fake money would collapse. Who’d have guessed that this could happen, well I mean other than people who are familiar with the history of financial scams, they’d have seen this coming.
GREED
@@thefishhobbyist5478 it’s been around longer than you have I bet.
It's volatile. Any investment is, but this is more-so. Nothing is wrong with a volatile investment, but you gotta understand the risk and take responsibility if it tanks and recognize you got lucky if it does good.
Follow your common sense...not your greed.
Bitcoin now has approved ETFs and big institutions are buying Bitcoin like crazy lol
Biggest Ponzi scheme ever
Maybe second biggest. Organized religion set a high bar where that's concerned.
Money is indeed spiritual. Very good point.
Money is not spiritual. It’s a median of exchange.
@@CurieBohr no it very much is spiritual. This is why the love of money is the root of all evil. The medium of money doesn’t matter. It is what money means to us and how much faith we place in money. Money is a tool that God gives us to do His will. Like other tools, it is something that can be used correctly or incorrectly depending on our spiritual nature.
@@ryankelly5308 just because something can be used for evil, doesn’t mean it’s spiritual. A gun is not spiritual.
Because if money is evil, all churches are, because they beg for money.
@@CurieBohr I hear what you’re saying, but you’re missing the point. The item (money, a gun, a house, etc) is driven by our spiritual nature. So the item itself becomes spiritual to each of us depending on the use of that item and the heart behind its use. Does that make sense? Of course, I’m saying this from the point of view of a Christian, so if you have a different world view then I understand how this may not make as much sense.
Yes happens when you are over leveraged to the extreme