Tells you everything you need to know about that guy. He didn’t bother researching bitcoin whatsoever, didn’t know anything about it, still called it wacko etc. If he were legit and not just a salesman more than anything, he would have explained its brilliance on paper but high risk in practice and simply offered a high amount of caution for anyone thinking of buying some. He made it sound like you were investing in a pet rock.
bbqyak on
This guy sucks. He’s been consistently wrong about many assets.
fall0ut on
To be fair he was not wrong. There are a lot of penny stocks or alt coins today you would be “stupid” to invest in that could moon.
You also have to realize his audience is terrible with money and he only offers the safest of advice. He will never tell his audience to diamond hands an unproven investment.
HSuke on
You guys realize that his target audience was people in **serious amounts of DEBT right?**
You guys going to to tell people in debt to buy more Bitcoin?
He was a get-out-of-debt guru, not an “investing guru”. Though his methods of avoiding credit for cash were extreme and stupid for other reasons.
FocusFlukeGyro on
IMO, investing more than you can afford to lose would be unwise because of the volatility. Then as well as now. That being said, investing a reasonable amount of money, into an investment you believe in, is generally fine.
upnflames on
This guy gives great advice for people who are bad with money. Not great for anyone with even a basic understanding of finance and investing.
RoflGuest4 on
It actually makes sense for poor people with no money not to invest in some highly volatile new cryptocurrency. It is risky and they may need their money back sooner than most.
Lontology on
Yet here you are in the red and posting shit like this to try and make yourself feel better about your losses. Lol
sexyagentdingdong on
a little grace for him and his audience. most individuals didn’t believe in it. I knew about in 2011 and I didn’t buy for money and skepticism reasons
Inventor141 on
lol 😂
Admirral on
His message was not wrong. How many of you here are deep in the green on crypto right now? Probably very few. Especially if you are irresponsible with money as it is (which is the audience he is speaks to), buying crypto IS a very stupid idea.
RetroGameMaker on
Judging the number of stoopids in the world wasn’t his job. Just because it grew in size bigger than he estimated doesn’t make him wrong about Bitcoin. It just means there’s a lot more financial illiteracy than we thought. Bitcoin at $500 is no different than at $60000, just more stoopids have been suckered into the get rich quick ponzi
Lolalamb224 on
He’s not really an investing guru as much as a
advisor for people who have no idea how to manage their personal finances.
Flatulent_Father_ on
Dave Ramsay doesn’t really give super general advice, it’s mainly targeted at people with debt, and even then he has some views that are only focused at people in debt with poor self control. If you have a handle on your finances, he’s not really the one to listen to.
ottens10000 on
Everyone should have a little Dave Ramsey whispering in their ear to stop getting into debt. Outside of that, I wouldn’t listen to his advice.
fanboy_killer on
This post truly encapsulates the spirit of Reddit. Guy dedicates his life to helping people manage their finances, but he once told his audience not to engage with a brand-new asset without a History to back up its value? Let’s shame him.
Additional_Ad_8131 on
well at the time it was not wrong advice. That’s like saying that this one guy who told you not to buy a lottery ticket gave you bad advice because some guy won the lottery
LovelyDayHere on
Today, if you tell someone that buying BitcoinCash for $500 is basically a steal, they’ll call you “stupid”.
18 Comments
Tells you everything you need to know about that guy. He didn’t bother researching bitcoin whatsoever, didn’t know anything about it, still called it wacko etc. If he were legit and not just a salesman more than anything, he would have explained its brilliance on paper but high risk in practice and simply offered a high amount of caution for anyone thinking of buying some. He made it sound like you were investing in a pet rock.
This guy sucks. He’s been consistently wrong about many assets.
To be fair he was not wrong. There are a lot of penny stocks or alt coins today you would be “stupid” to invest in that could moon.
You also have to realize his audience is terrible with money and he only offers the safest of advice. He will never tell his audience to diamond hands an unproven investment.
You guys realize that his target audience was people in **serious amounts of DEBT right?**
You guys going to to tell people in debt to buy more Bitcoin?
He was a get-out-of-debt guru, not an “investing guru”. Though his methods of avoiding credit for cash were extreme and stupid for other reasons.
IMO, investing more than you can afford to lose would be unwise because of the volatility. Then as well as now. That being said, investing a reasonable amount of money, into an investment you believe in, is generally fine.
This guy gives great advice for people who are bad with money. Not great for anyone with even a basic understanding of finance and investing.
It actually makes sense for poor people with no money not to invest in some highly volatile new cryptocurrency. It is risky and they may need their money back sooner than most.
Yet here you are in the red and posting shit like this to try and make yourself feel better about your losses. Lol
a little grace for him and his audience. most individuals didn’t believe in it. I knew about in 2011 and I didn’t buy for money and skepticism reasons
lol 😂
His message was not wrong. How many of you here are deep in the green on crypto right now? Probably very few. Especially if you are irresponsible with money as it is (which is the audience he is speaks to), buying crypto IS a very stupid idea.
Judging the number of stoopids in the world wasn’t his job. Just because it grew in size bigger than he estimated doesn’t make him wrong about Bitcoin. It just means there’s a lot more financial illiteracy than we thought. Bitcoin at $500 is no different than at $60000, just more stoopids have been suckered into the get rich quick ponzi
He’s not really an investing guru as much as a
advisor for people who have no idea how to manage their personal finances.
Dave Ramsay doesn’t really give super general advice, it’s mainly targeted at people with debt, and even then he has some views that are only focused at people in debt with poor self control. If you have a handle on your finances, he’s not really the one to listen to.
Everyone should have a little Dave Ramsey whispering in their ear to stop getting into debt. Outside of that, I wouldn’t listen to his advice.
This post truly encapsulates the spirit of Reddit. Guy dedicates his life to helping people manage their finances, but he once told his audience not to engage with a brand-new asset without a History to back up its value? Let’s shame him.
well at the time it was not wrong advice. That’s like saying that this one guy who told you not to buy a lottery ticket gave you bad advice because some guy won the lottery
Today, if you tell someone that buying BitcoinCash for $500 is basically a steal, they’ll call you “stupid”.