Ramsey Show Reacts To HORRIBLE Crypto Advice on TikTok
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- Опубликовано: 22 дек 2024
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If people are actually gonna take financial advice from TikTok they deserve what they get.
Amen
If you would have wage your 1200 stimulus check on Tampa Bay winning 2021 Superbowl, you would have won $73,200.
And crypto is running again. It's a predictable asset. I put all my tax refunds unto it and all the stim cheks. I will retire before most my age thanks to crypto. Its only a gamble if the mentality is "I'm hope this works" but if you understand the market and crypto ,it is not even close to a gamble. If I'm gambling then I'm very skilled because I'm up over 2000% THIS YEAR. .........AGAIN.
Don't invest money you're not will to lose period.
Inflation eats cash away
@@alex182618 So do ponzi schemes, rug pulls, shady exchanges, and FOMOing into something that some online influencer is pumping.
I'd change it to 'Don't speculate with money you're not willing to lose' I invest with every paycheck into well known and respectable mutual funds. I am not willing to lose it. Were I to see some indicators that Tesla stock or Ethereum were set for some short term gains, I might put money (that I must accept might be lost) into it for a bit. There is a massive difference between speculating and investing.
@@FrancisMacomber1936 what happens when mutual and index funds are in a bubble in other words what happens when they're a lot of people doing the same thing as you what impact does that have on fundamentals?
Not true at all don't gamble with money your not willing to lose but if you want to invest don't invest money you need in the near future invest for the long term
1:23 "I think he's just making it up." Plot twist, he's not.
Yep! I did the same thing the dude is talking about in the video. Am making a FORTUNE!!
You could guarantee this guy didn't invest a penny in those coins 🤣
I didn't neither lol but even I know investing in cypto now is a really bad idea. Bit boy cypto is making people lose their money!
@@TheAazah Bitcoin just hit over 73K since this video. The dude on the tictok was right.
I did invest my stimulus in eth, got 22k, and used it for my home down payment. Dave prob hates me. lol
...so you didn't hodl it as your username implies?
@@FrancisMacomber1936 he did hold for a bit, and sold it for profit
Well you got lucky! At least you pulled out at a good profit and used it for something more sane 😂
@@DGregster He did not get lucky. Crypto is predictable.
@@DGregsterbrainwashed hooligan
They are just making fun of something rather then debate it
Yeah this isn’t the best video I wish they had done this better honestly. If you invest, invest what you are willing to lose
I agree. Provide why they are wrong. Prove it.
Looks like cherry-picking data. It's a classic case of survivorship bias.
Kinda like using November 2021 as the counterpoint? The response is even more biased than the original point!
@@nsmethod they cherry pick the top.
But watch you see in a year they will wanna retract what they said.
@@nsmethod they did that to show you can cherry pick any data you want in order to “prove” something. That point obviously went over your head though.
@@2k3SteedaGT That would be true if the April date didn't have any significance with regard to the price of these particular coins. But in this case, the entire point of the video was to show the value of a coin if the stimulus money been invested at that time. Again, it was the response that used a cherry picked date, not the original video.
@@camcommute Lol!! Crypto back to all time highs and ripping. AGAIN!!
i love watching u guys, but my god this point of view on crypto is honestly so frustrating.
its honestly insane to me that these guys r suppose to be financial "experts" and yet hes investing in doge at the top... and ends up being surprised he loses his money lol!!! first rule of investing. u never buy high and sell low. u dont buy when the markets r at the all time highs (2021, when he bought his doge) u might be able to do "time in the market" in typical stocks, but this DOES NOT work in crypto. timing is everything. now... if he was to buy doge right now. that would be a good move, he would 10x his money pretty easily. This is all coming from someone whos only been learning about this stuff for just a little over a year, im quite in-experienced, but come on lol this is common sense! OK rant over!
There was once a horse sales man that kept telling people how dangerous cars were.
Cool story. Can you provide more details, like his name, and what your source is?
🎯🎯🎯
I mean, car crashes are the leading cause of death among young adults in the US. Cars certainly have the *potential* to be dangerous.
@@JeanValjean875 yet we still drive them. And now a days way more people own cars than own horses.
Cool story. But Dave Ramsey and Co aren't selling horses.
Huh, we invested that stimmy $ in a wood stove to keep us warm for the next 20 or more winters.
It didn't lose any value
😂😂😂😂smart
I hope it was a Vermont Castings. Haha
@@jme92685 it's a Kuma
Made in the USA with American materials
@@5points7019 I did the same thing! I bought a Lopi that's also made in the U.S.A.
Good investment. If it can't be touched, it ain't real.
Saying teenagers are the only ones utilizing tik tok is the most short sighted comment I’ve seen. I respect this channel a lot but if you’re not evolving with the times you just look bad…
I think a better statement would be only teenagers should be using Tik tok. If you are an adult on that platform you should run the car in the garage
@@DavidRamseyIII interestingly enough people were saying the same about RUclips in its inception so claps for you on being out of touch with the evolution of social media.
Tik tok isn't anything to be taken seriously
@@DavidRamseyIIIthat is how every social media platform starts, and then the older generations either grow up on it, or join it, and then there will be a new one.
Y'all gotta stay in your lane fam. Rice and beans.
I bet George and John both have a decent understanding of the blockchain. They also understand how to not get fired for going against Dave's POV. They're probably both hdlrs.
Truuuuu
I failed to see where in this TikTok video the original poster was giving advice.
Not even once in the video presented to us does the person in the TikTok video suggest we invest in any of these currencies.
Um, he said "if you had invested in.." 10 times! What he was doing was usint guilt and FOMO to get people to put money in today!
@@scottbitz5222 "invested" is past tense, and the OP was presenting the viewers with a list of hypotheticals.
What the viewers choose to do with that list of hypotheticals after viewing the video is entirely up to them.
Regarding"FOMO" and "guilt", neither one can hurt you without your explicit consent.
"would be" is a wonderful phrase. Use it often.
John’s Taco Bell comment got me 😆😆
Love George’s TikTok reactions, thanks for bringing the Ramsey show into react tube. It’s amazing haha
Blockchain is revolutionary tech. In the same breath, there are hundreds, if not thousands, of bs projects and scams.
Differentiating what's what will be the difference between long term wealth builders and gamblers/losers.
Dismissing the entire space, though, is a mistake. Ramsey personnel are not the ones you want to look to for advice in this field.
Unless you’re building something for web3 or just enjoy watching your US dollar values fluctuate, they really are…
100%
Agreed. I love the technology behind it and it will unquestionably change the way financial transactions are conducted on the internet. But I absolutely despise the speculative "get rich quick" side of it all.
Trent here is probably going to be the smartest guy in this thread.
"Blockchain, blockchain! Blah, blah, blah. It's going to revolutionize finance but I never explain how or why." - every cryptobro ever.
This video is like 20 minutes old and already every middle schooler who frequents reddit is already seething in the comments. Love it. 🤣
What ? That the Ramsey crew is wrong on crypto? Lol! This did not age well. Bitcoin just hit over 73k recently
These guys are too young for the “old man yells at cloud” stage of their life.
Yeah, its kinda sad lol
I would ask a physically fit person how they made it and a wealthy person how they made it, but I have done that before and they always treat me like I already know the answer.
These guys are clueless, they obviously haven't done their obligatory 1000 hours of reading or research into the topic so how can they form an opinion
Agreed
If you have money to lose… why not take the risk.
I agree with you. If you have money to lose. A lot of these people don’t have money to lose.
…and if you were to put all your money into mutual funds, you would be working until you’re 90. These are the same kind of guys that told you to avoid Apple and Amazon in 2010 because they were too speculative.
If Dave Ramsey is without Dave Ramsey is it really Dave Ramsey?
Yes. Because these guys repeat everything Dave would say.
@@dagetz6694they do tricks on it
I don’t see anything wrong with a small investment each month. Not through a centralized exchange but through a decentralized exchange and in your decentralized wallet. If you are investing into something like this then you must invest fully in the decentralized functionality.
How do you onboard other than through fiat?
@@davidlindsay6450 You can onboard through Loopring
After maxing $20500 into 401k and $6000 into IRA…sure.
I saw something in a RUclips comment once and kinda believed it. Turned out to be wrong, so I’m never listening to a RUclips comment ever again. I’ll just trust the certified experts, and not the “trust me bro” people
@@tdog6295 Sometimes there are breakthroughs that traditional people in a given field cannot comprehend but that doesn’t mean it’s wrong.
“There is a fool born every minute.”
- P.T. Barnum
PT Barnum never said that 😂😂
Yes , the ones not getting into crypto are fools
The hate is real
The video is not lying.
Ramsey folks. I am a BIG fan of yours... but you are not speaking intelligently about blocktech. You mocking , as opposed to having an actual intellectual discussion about it isn't a good look. ---- sounds like George randomly selected a meme coin to invest in and lost his money . Surprise surprise.
Yup
So? This same argument could have been made about mutual funds? Common guys. Investing is never a bad thing.
"I think he's just making 'em up"
There's nothing made up about those numbers. If they could rewind time and put their own money into even one of those, they would. 🧢
@@durimehta76 duh but no one’s psychic.
What “horrible advice” are y’all talking about?
I’m kicking myself for selling doge for $20 profit when it would have been worth 200k a year later lol.
Ouchies 😬
@likexbread truth be told. I was telling people of course a joke coin is going to blow up and make people millionaires because in this upside down world what doesn’t make sense is where you should invest your money lol. And then it went up 5000 percent
Shiba inu us gonna be huge
@@malikknight5503 that’s probably not true lol
Same here
It’s funny watching you two seethe over a video that is not telling any lies. He simply showed how that $1000 dollars would have grown in any of those coins. He never even told someone to buy them in the video. It’s like you guys get red in the face with facts presented to you?
Because it doesn't fit their brand. The TikToker IS correct
Nailed it
it's the manipulation they criticized. the whole "if you had put that much you would have made that much" causing people who know nothing about it to get excited putting their money thinking it's a get rich scheme.
Ramsey folks need to learn to keep an open mind, learn about new topics, and get with the times.
They won't though because all of them are old fuddy duddies that are controlled my their master Dave Ramsey.
@@BenjaminStrand lol I remember someone saying Dave is the type of guy to not invest in the lightbulb and keep using a candle. 😂😂
Cryptos are the biggest Ponzi schemes currently out here. You will learn one day.
"learm to keep an open mind, learn about new topics, and get with the times"
Translation to English: Ramsey folks need to quit FUDding on my pump and dump schemes, because if they don't I won't make as much money and I'll have to get on their message boards and insult their intelligence, manhood and accuse them of being under cultlike control of their master when in reality I should be spewing that cocky vitriol at a mirror. Blockchain! Blockchain! Blah blah Blockchain!
Bitciin keeps tanking
There are so many things wrong with this segment, I don’t even know where to start.
He isn't making the numbers up. Yall just mad SMH
This “get off my lawn” program is becoming outdated by the minute.
I’m sure Ramsey said the internet was stupid and no one should do it.
Get out of here with that negativity
@@lowellhurst1738 I’ve been following Dave for years and do a lot of what he teaches. However, they need to get a hold on reality and see the impact decentralized finance is going to make.
Musk drove the price of Doge up and then before coming on SNL, tweeted to be very careful with it. It was worth .70. On SNL, he said it was a hustle and it dropped and hasn’t recovered.
This is exactly what I've been saying to one of my roommates who insists that it's the only way to make any money, has admitted they're lazy and don't want to get a job now that school is going to be over this spring. Like so many they're blinded by this and refuse to listen to sound advice when given to them and sulk when it doesn't go their way.
I'm so tired of this boomer show spreading false and misleading information to people. It's disgusting
Then don’t watch it. Make your own RUclips channel and spread your information
I mean, the kid was right. Everything he said was true. Ramsey hosts got this one wrong.
They also ran their numbers starting in November 2021. The tiktok ran numbers starting November 2020. Talk about using statistics to prove your own bias.
16 is red on the wheel, just sayin
Ramsey better get on board fast
These guys will be on board sooner or later
He is on board crypto is dumb.
I don't see an issue here. People should invest in cryptocurrencies if they are willing to spend the money on them. I agree, you should not put your life savings in cryptocurrencies.
If you want theh biggest gain then yeah...
Issue is the way the individual is selling it
Jealous of them gains!!! Aha, loved the video.
I love Dave Ramsey, but this has to be the dumbest video I’ve ever seen. Lol, you could do the same thing with the s and p down 20%, no investment continually goes up forever
How’d you become a billionaire? Through investing 15% of my income towards a mutual fund for 200 years
If you invested in nearly anything in mid 2020 it would have atleast quadrupled by now. It's called buying during a crash.
So it is OK for you guys to do the same thing they did by choosing low days? If you dollar cost average and take profit on the way up you keep the major of the profit
Who needs Netflix when we got blockbuster video ? Furthermore email WTF I got a fax machine and stamps and envelopes as a back up
They mention 1984, and 1806... as a joke, and yet this crypto analysis is based on investing in 2020 which is 4 years ago.
You too have alot to learn. I laughed through out the whole video.
*two
*throughout
*a lot
tik tok? why would anyone take real advise from that ??
Same people taking advice from RUclips
Tiktok is youtube for teenagers. lol
@@radfoo72 A couple of years ago but now it's no different to the other social media platforms
Looks like y'all and the Money Guy are Sharing ideas. 🙄
They always assume "if you had invested in" .. they show up only after it happens
I did this exact thing with my tax returns and stim checks. Making a killing in returns. over 1000% in 6 months.
You guys need to be educated. Clearly you guys are bias in a very wrong way
Aww poor baby, he looked into crypto and doesn't understand it... but he's so smart, maybe it's designed to be complicated.. aww poor baby.
That’s why they are the worker and not the owner!
These two bitter apples need to stop being jealous of young guys who struck it rich and make their net worth look like crumbs.
Another thing, do not take investing advice about something from people who do not understand that something.
06:40 makes me think of Gary V.
"I think he's just making them up".. haha, and yet. they all exist.
There were no lies in the Tik Tok video though..
Adding to it. If you 180,000$ in terra luna they would've been zero $ by now.
Crypto’s are the future, but we’re about 15-25 years away from it being mainstream
Cryptos will collapse under the weight of their own corruptive practices long before then. It's a solution in search of a problem.
Even if you could make a compelling case that the current financial system has a problem, cryptocurrency does nothing to solve them. It merely makes a new class of wolves (some of whom are the old system's wolves) to prey upon the sheep by filling their heads with whatever FOMO and FUD suits their agenda at the moment.
This aged poorly
“Everyone gets a platform” 😂😂 what a scary time we are living in!
Great segment fellas, keep ‘em comin!
You are spreading misinformation . Get educated.
You spelled misinformation incorrectly...😉
@@quinnterry2834 thank you 🙏🏻
@@AlohaMaui no worries...we all need help sometimes. 💜
How many people have you helped become millionaires? Because the Ramsey system has helped thousands do it. So I would love to hear your experience and knowledge on the matter?
@@Billman8686 who did Ramsey help become a millionaire?
You dont lose money unless you pull it out while it’s in the red. If one would have held through the down time.and added while it was down come to today. Man oh man.
What math is the tik tok guy doing? I have money in a lot of those and it's still the same if not less. They don't gain dividends or interest. All capital gain.
I’m wondering 🤣🤣🤣 he’s just giving out numbers misleading the youth
No no. Check how much those cryptos worth in 2020 and do the math.
These so called investment TicTok gurus also thought the Tide Pod challenge was cool.
Since NFT’s are exactly that, NF, the only way I’m going to make money is if someone else loses it.
If ifs and buts were candles and nuts, none of us would go hungry
"Past performance does not guarantee future results"
manipulated math always sounds good
What was manipulated?
@@durimehta76 most the numbers are taken from split sec spikes
@@Jon-ko3vv pull up the charts and prove it then.
@@ivar1998 doge ATH was in May... The recent high in ethereum was in November.. They are manipulating the data. Not even a set time frame just picking and choosing.
@@joerichards3710 doesn't matter. If you'd entered at a low price you'd see a hefty return. Idc that he didn't do the math to figure out the exact prices you should have entered and subsequently the returns from those entries. Entries are entirely subjective and up to the investor to determine, so there is no logic in him guessing when/where someone would have or should have made an entry as opposed to just making a general estimate for each one. If anything, some of these figures could have been larger anyway if the extra work was done. He also can't guess where people chose to exit* their trades either. Your exit point can also make a drastic difference in your returns.
Dave and George need to review/react to Mr. Beast’s most recent video and see the sponsor is Experian.
Doge ran to .70 ..............You made $30 on your doge......you just didn't cash out. Lol a 30% GAIN......which you might get in 2 years in the traditional markets.
Well that Tik tok has aged well!
"I think he's just making them up" hahah
“Cryptos currencies are designed to make other people get rich”
Ramsey personalities everyone 👏 👍
Typical boomers
I like how he said he bought DOGE at .40. 25x OF THE ATH. And he is surprised he is left with $14. This is what happens when you don't understand what you invest in 🤣🤣🤣
Way to pick out data by using all time highs.
What are you talking about? The tik toker chose the date of stimulus dispersement and an end date of when he made the video. He didn't select each coin's all time high as the end date.
@@FrancisMacomber1936 no. The Ramsey guys did.
Miners Defi is probably the most underrated. Way ahead of the rest when it comes to tech and delivering on things. Roadmap 2.0 is going to be a game changer especially with the new NFT drop
For the life of me I can’t understand why these guys hate crypto so much
Excellent advice guys
I think that along with Dave Ramsey baby steps book it would not hurt to watch all Berkshire Hathaway’s annual meeting recording from 1994 to 2023 to learn lessons from the two greatest investor of all times, they are available on RUclips for free
16 is a red number. So that advice is terrible
If you did not spend your $1200, you would still have $1200.
Not really, because inflation cut your purchasing power.
That’s why you invest in things with utility and mitigate. Very disappointed by this video. This sounds very outdated
How's his LUNA doing now? Lmao
Exactly Nyahaha
Have you ever heard of the 4-year cycle in crypto?
So, XRP is looking good right now…
buying doge at .40c was stupid just fyi no wonder you got $14
Thank God I do my research on everything I invest in rather than listen to these Dave Ramsey stooges. They probably have absolutely no clue what the Blockchain even is, what doors it's opening, or how it's growing.
You should’ve played these numbers to win the lottery lol.
Terra Luna would be now worth the same amount as my oatmeal this morning, zero.
I’ll take my financial advice from my financial advisor. NEVER some Joe or Jane Doe on freaking Tic Tok. It also bothers me when these Joe and Jane Does set up at home business acting as if they KNOW how to invest and charging people an arm and leg to hire them as financial coaches. It’s not supposed to cost you anything outright when working with a financial advisor. I’d rather follow Ramsey then some dude or duddette on Tic Tok who I have no clue who they are.
What?
All this tiktok did was show how much these cryptos gained from the time we got that stimulus check and the time he made that video. Relax buddy. Numbers don't lie.
You dont need a financial advisor. Your brain is your best financial advisor
Why did you choose doge? Lol
This is the real question.
George is my new favorite!!
Everyone got their own tv show -Dave Landau