Dave Ramsey Reacts To Crypto Scams and Bitcoin's Crash!
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- Опубліковано 12 чер 2022
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Those are reported scams. A lot of people don't report things because of shame or just thinking it's lost. So imagine how much it's actually.
people will always fall to it even if they know it's wrong, they still want to get ahead. fall from grace twice lol.
Netflix and Paypal stock are down 70% also......i mean, be fair at least
Ikr lol confirmation bias
A good portion of netflix was self inflicted.
Those are real businesses generating real revenue. Shitcoins are shitcoins.
No cryoto should be worth more than $0.
How about those 401k's, omg those are scams too dawg.
We will see more scammers as more people get desperate. Lots of these “get rich quick” scams. Be careful everyone.
Indeed.
Yea, those get quick rich schemes that want you to follow certain steps.
If it sounds too good to be true...it probably is.
Its pretty easy to skip those, just stop trying to get rich quick
Nah, let the stupid people learn their lesson
Dave, Those mutual funds you told us to buy are also crashing.
yeah and? are you selling them? buy all the way down ... understand dollar cost averaging
Doesn't matter as they are meant for LONG-TERM investing.
@@freedomring3022 they didn't say they were selling, they are just pointing out that everything is crashing right now.
Buy more of the Mutual Funds
😂
I got scammed by my local state. They said I had a chance at winning millions of dollars... I have invested $50 a week for the past 10 years and still have got nothing back and my money is gone. Time to sue my states lottery system. - Play stupid games, win stupid prizes.
There is a name for this... it is called.... "a tax for poor people"
@@johnSmith-uz8nl that’s one way to put it, I prefer “stupid tax”. Not all poor people act like this but most all stupid people do.
Someone I know calls the lottery a "voluntary tax on the poor" since many many poor people buy tickets.
@@johnSmith-uz8nl I prefer "A tax on people who are bad at math".
@@lynnebucher6537 I prefer the filthy rich to pay their fair share of taxes. And only when this is done can we actually lower the taxes to the middle class.
I may be old school, but If I don't understand it reasonably, I try not to get involved. I like the bitcoin=whole life analogy. Very fitting...
Old school is the best school
Okay grandpa
I listened to Dave the whole time, so glad I did.
Same here 🙌
What's the price of Bitcoin right now?
Dave going to take another BIG FAT L 2024/2025.
LMAO I am sitting pretty with my BTC thank you for helping ensure the price stays low ;)
I was here to see Dave have a field day but he actually took it easy 🤯 just one outburst
The pitch always comes down to the scammed getting something for nothing. Greed will get you every time.
💯
Yep, lol, greed only works for the super rich scammers
Buy the dip!
Yup
Then wait until is goes to zero
Agreed
The dip is not here yet. People are still about to get miserable. Wait at that time.
@@myytchannel6632 maybe. But I'm DCA ing just in case it goes up
Dave its doing the same thing everything else is right now and will rise when everything else starts rising
Literally everything is down including mutual funds though 🙃
Not by 60% like Bitfuck.
Don't know about your 401k but mine isn't down 60%.
Diamond hands 💎 🙌🏽
Dollar is up.
Wanna talk about crashing? The dollar's buying power has dropped 95% since the beginning of the Federal Reserve
You mean since 1913? That's what you really meant. OVER THE PERIOD OF 110 YEARS.
Which is a stupid analogy to make trying to defend something like "Dink Doink".
Doing fine .
No issues.
Yeah but a century long rug pull is ok, because the nanny state backs it up.
The federal reserve is not a federally run organization.
@@blueboat9581 a central bank will print money at will, regardless if it's public or private. The only reason it's private is because it was made by bankers themselves in the dead of night in a secret meeting at Jekyll Island and passed as law around Christmas
I feel very little sympathy, if any at all, for those that get burned by "Get Rich Quick" schemes...
Neither do I. No pity for stupid people.
Yea, like anyone following seven steps.
@@tracygaluszynski1868 why are you even on here?
What about those that got rich quick? 🤣🤣
Haven't seen a "This didn't age well" comment in months. Love it.
This comment didn’t age well either lmaoooo Bitcoin at 70k u would of tripled ur money if u bought when u comment this. Instead ur up 4% on ur etf
@@malek8281 Lol facts
"I've never caught a fish, either" lol Dave is hilarious
Me neither.
I like what WC Fields said way back in the day: never give a sucker an even break" LOL
Been waiting on this video from Dave
why are large institutions and countries adopting use?
A very old former told me one time if you were sitting across the table from somebody in the phrase trust me comes out of their mouth push your chair back stand up turn around and walk away no one who says trust me in a business deal can be trusted
Who’s here after Bitcoin broke 60k ✋
PayPal, Roku, Etsy, Zillow, and many many more have lost 75% in value... not 7.5%. Almost everything has gone down near 20 - 30%... what is Dave's point?
Paypal, roku, etsy, and zillow aren't "currencies"
The point is most of these high flying tech companies were immensely overvalued. Not unlike the dot.bomb crash.
The better question is what's your point?
People say they don't want regulation but this is what happens when it's the wild west . What happens to businesses that accept this as payment with such a dramatic deflationary response to this so called currency .
Its not a currency
@@terrodar19 it's used to pay for things so yes it is a currency
Regulation is not the issue. The issue is people doing irresponsible things and then not wanting to take ownership of their mistakes. By treating them like children and implementing some form of regulation it then causes obstacles for the rest of us responsible adults when it comes to our decision-making. Personally, I do not need a warning on a jug of laundry detergent to tell me not to consume it and the same is true when it comes to investing in things that I do not understand and that clearly is above most people's intellect.
@@The.Dude.Abides. Agree
@@The.Dude.Abides. you just made my point common sense isn't common . Society is the sum of its total . If we lived in our own private world than the need for rules and regulations is not necessary but most humans live in a community and share resources . It's why we have traffic lights
Would you give your wallet to a “wallet inspector”? If you wouldn’t do it in real life, don’t do it online.
Now’s the time to buy. Get with the times Dave
😂
@@VegasMilgauss ah you're going onto every post with an emoji instead of a good retort. What a sad old man.
Great idea - go ahead. And when things get bad and no one with real stuff wants your trash good luck.
Lemme guess- BUY FROM YOU!!! Ha!
Agreed!
I wish there was more people like you to stop all these scammers, they need serious jail time for that, especially when they take money from the elderly, keep doing what your doing *Highgizmo* 👍🏻💪🏻 put the wind up these low life oxygen thiefs
Love what you guys do keep up the great work mate well done Respect
Unfortunately, a lot of people fall for these "quick rich schemes" still.
Everything is crashing
I would hope so.
Long overdue after 14 years.
It’s still up 2000x from where Dave started hated on it but who’s paying attention 🤷♂️🤷♂️
I love the Nigerian Prince from the Republic of Nigeria.
You just can’t fix stupid, period! So many people want the easy quick way to riches. It’s amazing what greed does to people that fall for the scams.
It's at 23k or something. I remember when it was 100 bucks. Lol crash
Tell that to the people that lost everything and are looking to end themselves.
Just say "LOL, brah! Where's your diamond handz!"
@@WillmobilePlus well they didn't understand what they were investing in...
@@WillmobilePlus maybe they shouldn't invest in more then they were willing to lose?
“What the wise do in the beginning, fools do in the end.”
-Warren Buffet
I get it but that’s a little contradicting
I think that quote is from Howard Marks, is it not? Good quote though.
bitttconnnecctttt!… who remembers that lol
🍿🍿for Dave's response.
Both Netflix and PayPal are down 75%
To the fact that this started as just a random thought, a random hacker then turned to this blows me away. This man is a truly talented pro, who exactly knows what his audience wants/relates to, all while maintaining himself as a person 100%. Love it. Keep up the work, *High gizmo on the internet.* Can't wait for your other recovery then award.
Wait, that $1 Billion theft is now actually only $400 Million. Whey, now that's a bargain!
He's assuming everyone bought that the peak. No, Dave, the smart ones got in early when it was under 20K, and sold when it reach above 50K. The people who were late to the game in an attempt to catch the train are the ones who got burnt.
And the ones who buy now and wait will be good too.
@@justme87999 There's no guarantee of that.
And those idiots will buy again.
Right. Just sell to the greater fool.
Sure, when word was it was going to 100K, I call BS
This will not age well! Wait until 2025-2026!
Yeah, let's wait 3-4 years and see if Dave is proven wrong. LOL.
I love Dave and George on together!
Agree. Did not realize George was that smart until this one.
Those 401k’s and Roth IRA’s are also falling.
Yeah, ok. Terra Luna = 401Ks.
See, your 401K will come back, your 5th derivative of Doge coin is not.
@@WillmobilePlus exactly
Good. I want them to fall further.
I have a lot of dividend reinvesting going on monthly and quarterly.
Lower stock price means more shares purchased.
Also have over $600k cash on standby.
@@WillmobilePlus but your bit coin will also come back.
In the short term
"Trust me" reminds me of the snake in The Jungle Book when he was getting ready to eat Mowgli... I'd bought some doge coin (about $100 worth when it was $0.09/ea). I couldn't stomach the ride, so I sold. Then it went up to $0.16 for a while, and I tried again, but I still couldn't take the ups and downs. It was the same rush I used to get gambling in a casino... I watched more investment UA-cams and went with ETFs. It's not a rush, but that's not what I was looking for when investing.
It was virtual gains, now it’s virtual losses - nothing of value was gained or lost, besides the energy wasted to do the “mining”
Bitcoin, not crypto.
You don’t understand it yet.
The “SOMETHING FOR NOTHING” pitch ALWAYS works.
Sometimes they sent fake emails from Coinbase to log into your account. That’s how.
When did so many people become idiots? Batman, the city is in trouble!
Yeah and no one has ever been scammed using cash or even a bank account🙄 it’s actually more likely that people have been scammed more just using their debit card buying items online than crypto transactions and debit cards aren’t really protected from those either.
Diversify diversify diversify - and only invest what you’re willing to lose!!!
People who are diversified and long term are smiling today.
Oh Dave is enjoying this for sure!
I don't think so. Yes this was an _"I told ya so"_ video. But it's pretty heartbreaking for all of the well intentioned ppl losing so much money.
@@brandondaniels9471 Told ya so?? what are you talking about.
@@brandondaniels9471 my buddy pitched this stuff. I reviewed the stuff put some money in. And when I saw problems I told him. He acted like I offended his mother. Don't feel bad. They were begging for it.
My stock and funds have also crashed alot.
It should crash a lot.
That's how it all works.
This is the time money is made.
Historically they go back up over time.
Bubbles always pop
not your keys, not your coins
mad respect for saying yes bro. sometimes opportunities present themself and you gotta take them. i am kind of a *High Gizmo* on the internet fan, but this recovery was a great message. you both already won for participating!
At 6:38, it seems george doesn't like dave screaming in his ear.
The time I almost got scammed was when I hadn't paid the power bill and was going to get my power disconnected that day if I didn't pay. Because this was for a business and I personally didn't pay the bills (although the base bills are autodrafted) I believed it. I was 🤏 to paying 500+ dollars. But the bookkeeper called the power company and called me back in time for me to not let my anxiety get the best of me.
Same! That one almost got me
people chasing that luxury lifestyle not me i don't care about that life just want to be me
All tech stocks are down 60% since September.....
That an exaggeration statement
I start buying since 2015 and I’m still in green. What the heck are you talking about! Just go and use paper and pen instead of internet
I sold it right before elon went on SNL glad i did
Reminds me when many people bought Iraqi Dinars after we invaded them. There were big full page ads in the USA today. They would have been better off buying Frozen Dinars!
The biggest one most recently was LUNA. They decided to release the coin again and changed the ticker for the old one to LUNC. Stay away.
If it sounds to good to be true; it is… Don’t do it.
The $10 I threw into SHIB in October is now worth $1.97.
FOMO much?
I lost $3 😭😭😭😂😂😂
The 1k I threw at SHIB was 15k at ATH in October. Didn’t sell. Regret it, now it’s up only 100$
I threw 3600 bucks in SHIB. It's down 3300
Great job buying when it was high
Agreed. Those Bit Coins are crazy volatile. That's why I only invest in those 12% funds. 👍
Those are crashing right now as well...
Shut up Bit coins
There’s no such thing as “Bit Coins”
@@2hrsToChooseThis we know what she/he means
@@justme87999 he was being sarcastic. There aren't 12% funds.
Good luck working for 27 years and needing a 6 figure income to be able to pay cash for a 2/1 rental house like Dave recommends.
Well, Dave, I had a bunch of stimmy money in my pocket, it was burning a hole, I had to find a way to part with it, it was driving me crazy!
What makes you say that?
@@aleksanderkeca3110 that was sarcasm
😹😸😹😸!!
How is he reacting today?
Just a new twist on the old MLM scams.
I remember listening to Dave predicting the crash of cryptocurrency and counseling his callers not to invest. Say what you want about Dave, he has financial wisdom and is careful to counsel people to protect their financial investments.
Well it just went back up
Stocks are also crashing
Housing will be next. Just hold onto whatever investment you have
I promise nothing. I feel my hands weakening even as we speak. I might panic sell everything right at the bottom.
@@justme87999 Housing may be next but it will not drop much this entire year and they say the drop will most likely be 15% or less.
I think it's great.
Long overdue.
@@johnSmith-uz8nl yet it will bankrupt many. The point again is to hold on your investments.
Taking EVERYTHING in me to NOT do the Will & Grace "Told You So" Song and Dance!!!!
What if you bought at $10K?
You just lost half of your money
@@Ronyron3053 that's... not how it works...
@@ralfbo685 how does it works? People losing millions
@@Ronyron3053 if you bought at 10k and it's worth 23k, you more than doubled your money, that's how it works.
@@Ronyron3053 23k divided 10k is 2.3, that means you more than doubled your money
It’s sad we live in a world where it’s difficult to survive in because of inflation and when we’re doing our own research trying to become financially free, there are scams and others who give out false information.
The world has always been this way. Nothing new about this. Look up tulip mania -- and take a time-travel trip to the 17th Century.
@@johnc2438 exactly. 👍
I think as long as people put less than percent of their disposable income into researched projects it is rational.
You mean like Terra Luna?
@@WillmobilePlus Algorand
@@WillmobilePlus too soon
It's a gamble, never gamble more than you are willing to lose, I put $100 in the Luna crash, it went up a little then crashed again, if it goes up a little more than the price of admission it's a win if never do that then it's a whatever.
Researched projects???!!!! Like if you research you are OK... is this a joke?
Dave Ramsey is the Jim Ross of investing
Dave 'I only buy soil and oxygen' Ramsey
*Mr Strong Widget, I would like to sincerely thank you from the BOTTOM of my heart! So many from tough harsh living conditions that suffer and you helping and giving them something that they desperately need just to survive. I thank God for wonderful people like you that are making the differences that truly matter most! God bless you Strong widget!!! Love from Greenville NC*
Houses next wonder how he will react
Totally agree… I wonder too 😂
He won't lol
React to what? Unless you plan on moving, why the h3ll would anyone care?
My house was bought for 125 in 2011, and is now Est. to be 320.
Woo hoo? I'm not moving. I'm now enjoying living in a "rich neighborhood" now because all of the house on my street have been bought by upper income people that could afford 300K homes.
I'm sure this debt free multimillionaire will entertain you in some way.
@@WillmobilePlus Similar situation for me. Bought my home for $149K in 2013, now Zillow says worth $282K. It's paid off, has no effect on me (except future property tax hikes, GRR). My next address will be the cemetery.
In 2003, my parents received a voice mail on the landline. The caller said that we "won" a vacation. I reported it to my parents, we did not reply.
I just got a phone call that my cars new car warranty is about to expire. 🤷
@@ProfessorFickle don't buy it
It's a good thing nobody ever steals Fiat Currency. 🙄
Never experienced a rug pull with real money.
@@WillmobilePlus you’re getting rug pulled everyday
@@chrismcc6563 Ooooooh what a burn, Wojack.
But but it's not regulated! That means paradise right??
Dave I’d love to hear a podcast with you and Robert Breedlove
What happened to you don’t lose what you don’t sell?
Tech stocks are also down 60% since September too though. I get your distaste for it but that’s the actual trash coins that are being pumped and promoted by scamming UA-camrs. I’m definitely putting majority of my savings into my TFSA advised by my Financial Advisor. But I’m putting small risks into cryptos I believe in like ETH, ADA & Matic. Given I’m only 20 these are risks I can afford.
Grant, time to BUY!
Hahaha the more complicated it gets 😆
Following Dave Ramsey advice
Ride out the storm ⛈
good time to buy!!!
This young man is very talented I just hate the bad reputation rumors and fake allegations but when it comes to money get back he's in his own lane and has his own style and that's what makes *Strong Widget on the internet* so unique and untouchable‼️
Is the US dollar hard money or a debt instrument? I’m trying to live debt free. Confused.
Debt instrument
I see what you did there, clever! 🤭
Bitcoin reached an all time high today Lol
It will be interesting to see what he says when the dollar crashes. 2/10Year Treasury inversion, 136% GDP etc
You’re a nut
Only thing I don't like about this I told you so segment was that Dave wasn't very demonstrative about not buying it before. I know it goes against hus system but I feel he should have said more in the beginning which would have made this little victory lap he's taking deserved.
He did, he warned us. So did I.
bet the farm on something that doesn't exist, i don't get
I wish dave would admit MLMs are scams but he tells ppl they can make money with them which is a lie
What are MLMs?
@@misterE-1989 multi level marketing aka Amaway aks pyramid schemes
@@countrylivin8634 Not all MLMs are pyramid schemes. There are well run MLMs, and people do make honest money, but only the diligent.
@@Wythaneye they are really dishonest, you don’t own a company like they say, 90% of ppl lose money. There was this chick that had 30k worth the company product she bought with her own money in order to keep her “car bonus”, house was about to get foreclosed on, HOA was suing her I can go on all the while she’s on line scamming ppl to join and acting like the company was so great. You’d know her if I said her name
@@countrylivin8634 Shannan Watts?
I am old school, but what is so fascinating about cryptic? I thought is something that you can hold in your hand.
Speaking of coins...has anyone seen the new quarter? Nice right? George Washington has a bit of a long neck though.
Wait for next halving and the next pump to the moon 🚀🚀🚀
Crypto goes up, up, up und then down. Normal stuff
The only person that gets hurt on a roller coaster are the ones that jump off in the middle of the ride - Dave Ramsey.
Imagine what kind of world we'd have if we all lived our lives sensibly and saved money for an emergency fund.