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Dave Ramsey told a caller, seeking advice on his Bitcoin holdings, he has “Vegas problems.” Offering his advice on what he would do, the radio host unceremoniously recommended the caller cash out tomorrow.
“You’ve got Vegas problems, man. You walked up to the slot machine, put a quarter in and it dumped a bunch of quarters out and now you have this temptation to think that’s a plan. And thus is the problem with anything that is an extremely volatile asset…”
Bitcoin is Benefiting Everyday People
Ray from Kentucky got more than he bargained for when calling into The Dave Ramsey Show. Explaining his situation, Ray said in late 2019, his income tripled, and throughout the following year, he focused intently on paying off his debt. Currently, he has balances owed on just a car and a house.
Ray also mentioned he bought Bitcoin during that period, and his holdings are now worth about $100k. While substantial, Ray said it isn’t enough to pay off both the car and house. He asked Ramsey what he would do in this situation.
“It’s ballooned into this huge account now worth roughly $100k. So one of the things I want to do with it is obviously pay off the car, but it’s not quite enough to pay off the house.”
In 2020, the price of Bitcoin ranged from $3.7k at its lowest following the “Corona Crash” in March. To $29k at its peak going into 2021.
Despite the 649% ROI that Ray disclosed, as well as the expectation of further price appreciation, Ramsey, in no uncertain terms, told Ray, if it were him, he would take the money and run. Adding, Bitcoin is not something he would be buying in the first place.
Isn’t The Crypto Narrative Changing?
Ramsey’s views on Bitcoin are typical of many, particularly those born in the Baby Boomer years, and perhaps to a lesser extent, the Gen Xs. But it’s getting harder to dismiss Bitcoin as each day passes.
Coinbase is scheduled to debut on the Nasdaq on April 14. As a significant crypto company going mainstream, some see this event as the defining spark in legitimizing Bitcoin.
The FT hinted at this by giving a rundown of the first quarter financials of Coinbase, saying the earnings show that traditional finance can no longer ignore the crypto industry.
“Twitter folk quickly forged a consensus that such figures prove not only that Delaware-incorporated company is a profit-minting machine but that crypto itself can no longer be ignored by traditional finance.”
But changing hearts and minds will not happen overnight, especially not from a stock listing. Nor should it.
While Ramsey may have good intentions, he may also be fixated by his extreme biases to the detriment of his audience. It’s the extreme positions, on either side, that turns everyone else off.
Maybe it’s time to accept that not everyone gets it or even wants to get it.
Source: BTCUSD on TradingView.com
Dave Portnoy has been dabbling in the crypto and Bitcoin market for a few weeks now. After being reintroduced to the cryptocurrency market by Twitter, the Barstool Sports founder and celebrity day trader has been frequenting Crypto Twitter.
It reached a point where he was introduced to the Winklevoss Twins, who co-founded the Gemini crypto exchange.
Portnoy was then visited by the twins, who convinced him to buy Bitcoin and Chainlink (LINK). According to the Barstool founder, he purchased around $200,000 worth of Bitcoin and $50,000 worth of Chainlink. The cryptocurrency market then rallied around 5% in the day after he made this purchase, with LINK especially surging.
After temporarily selling all his cryptocurrencies due to $25,000 worth of losses he incurred, Portnoy just announced that he may re-enter this nascent market.
Dave Portnoy May Soon Re-Enter Bitcoin
On August 30th, the Bitcoin newbie announced that he will soon re-enter the crypto market once he’s figured out the intricacies of the crypto market. In his words:
“For all my #Crypto friends I am studying you. I am learning the way you think, breathe, exist. And when my giganto brain has figured you out I will re enter the market and conquer you and then lead you. Until then I watch, study, observe and soak it all in.”
For all my #Crypto friends I am studying you. I am learning the way you think, breathe, exist. And when my giganto brain has figured you out I will re enter the market and conquer you and then lead you. Until then I watch, study, observe and soak it all in. pic.twitter.com/SQiEw9Xeql
— Dave Portnoy (@stoolpresidente) August 30, 2020
He previously exited the crypto market because he incurred a loss on two of three of his cryptocurrencies, Chainlink and Orchid (OXT):
“I currently own zero bitcoins. I will wait and watch. I lost 25k. Just like with the stock market it took my brain time to figure it out. I know this. The Link Marines are weak and the orchid flowers do die in the crypto world. I may or may not be done… You LINK Marines are a bunch of f**ing frauds — you guys keeping on dumping this, not pumping it.”
Focus on Chainlink
When he returns to crypto, Portnoy is expected to have a focus on Chainlink and other altcoins, not just Bitcoin.
He explained in a recent tweet that he intends on “saving” the LINK marines, who he notes need saving due to Chainlink’s recently dropping price.
Featured Image from Shutterstock Price tags: Barstool's Dave Portnoy Is Preparing to Re-Enter the Crypto Market
Image Credit: Refer to Source
Author: Refer to Source Nick Chong
Following his recent educational foray into the world of Blockchain, Barstool Sports founder Dave Portnoy now appears to be promoting crypto pump and dump schemes by shilling low-cap altcoins.
Posting a number of videos on Twitter, Portnoy stated that he had found a new altcoin “that I’m interested in,” but wouldn’t disclose which crypto it was yet. He reasoned that he didn’t want people to buy it before he did.
He later tweeted that he had diversified some of his crypto holdings into the altcoin Orchid, which he referred to as “the shitcoin OXT,” adding that Orchids “never die.”
Portnoy expressed an interest in crypto pump and dumps, noting that “it’s encouraged” and can be done “all day long.”
Satoshi Flipper, a crypto influencer known for his analysis, warned people to be “very careful” with Portnoy’s words because he “doesn’t know anything about crypto.”
The Barstool Sports founder recently posted a video of his meeting with Tyler and Cameron Winklevoss, the founders of Gemini exchange. The twins met with Portnoy in order to explain Bitcoin in a way that he would understand.
Image Credit: Refer to Source
Author: Refer to Source Cointelegraph By Felipe Erazo
Blockcast.cc: Good morning everyone. This is our weekly interview session again. My name is Jenny Zheng, cofounder of Blockcast.cc. Today let’s interview Dave Broomfield from UK.
Hi Dave, tell us more about yourself. What do you do during your free time?
Dave: Hi I’m Dave, I’m a part of the Vision Crypto App team, I’m from the UK and I’ve been into crypto since 2013 and I’m really in support of blockchain and how it can improve so many aspects of our lives. Even in free time, I like to read about technology and the advancements being made are mind-blowing. I also like to learn about different cultures and find it fascinating how similar but at the same time how different everyone is.
Blockcast.cc: Can you share with us your project Vision? What is the unique selling points and what are you trying to solve? Do you think crypto wallets are safe? Why is Vision safe?
Dave: Vision is our new app available for iOS and Android and is what we put all of our time into. There are many features in Vision which could eliminate the need for users to have multiple apps installed. It has a portfolio manager which lets users manage their investments in many ways including syncing with exchanges and existing wallets.
The integrated multichain wallet eliminates the need for numerous wallets and private keys, only one mnemonic phrase is used for all wallets.
The assets swap feature eliminates the need to sign up to multiple exchanges to get the asset you want.
The market overview means a user doesn’t have to leave the app to check market cap rankings, they can get detailed information on every asset and also set favourites to monitor and set price notifications.
There is a news feed included so users can keep up-to-date with the latest goings on with blockchain, bitcoin and altcoins.
As for wallets being safe, I think they are as long as a couple of conditions are met, firstly the team behind them should be contactable to help the end user and the user themselves need to understand that the mnemonic phrase or private key is their responsibility and they should never share it with anyone, I always liken it to your credit card pin, you would never give that to anyone so treat your private key the same way.
As mentioned earlier Vision only requires one mnemonic phrase to manage all of your wallets which reduces the need for tens of keys being stored and reduces the risk of misplacing keys. We have absolutely no access to anyone’s mnemonic phrase so users are in complete control of their own finances.
Blockcast.cc: Do you only believe only in Tron? It seems like you are a Tron die-hard fan? Care to tell us more about Tron and how did you start with Tron?
Dave: I started research into TRON while it was still an erc20 token and got much more involved when I joined the team. I sent the team a message asking if they would like help with social media and engaging with the community and they took me onboard that same day.
I think TRON can achieve great things and has a great community behind it which in my opinion is key for any project. I wouldn’t say I only believe in TRON I believe in blockchain as a whole and want everyone to achieve great things.
Blockcast.cc: What do you think the future of blockchain and cryptocurrency?
Dave: The future is very promising, I’ve got to know a lot of people in the industry and there are a lot of highly skilled developers building real world solutions. I’m noticing a lot more users entering the cryptocurrency space from “less advanced” countries where many of the population don’t have bank accounts so there is so much potential there for sure.
Blockcast.cc: Do you think Bitcoin’s price is going up again soon? What do you think the price will be in Dec 2020?
Dave: I’m not a person who would predict the price of Bitcoin as it really depends on so many factors but one thing we have learned over the past months is that Bitcoin can stand up to the toughest of challenges.
Blockcast.cc: Name three altcoins that you believe and why do you believe in them. Yes you can name Tron again :>
Dave: It’s tough to choose just 3 because there are so many great projects. I do like what crypto.com are doing they are bringing many new users into the space making investing as easy as possible. Chiliz are my second choice they are doing something which actually gives a voice to sports fans and have already partnered with some top sports teams. Of course, thirdly TRON is heading in many directions with DApps, BitTorrent, DLive and now DeFi.
Blockcast.cc: What is your happiest moment in Crypto?
Dave: My happiest moment is still ongoing, just being apart of a great team with a passion for building and bringing communities together.
We see a lot of arguments in the crypto community like X coin is better than Y & Z coin but we believe that when one project succeeds it’s great for crypto as a whole. We should all be encouraging every project to succeed.
Blockcast.cc: What is the worst moment in Crypto?
Dave: Personally I haven’t had a “worst moment” in crypto but the worst side of crypto is the division in some projects, the industry is still very young and I believe there’s enough room for everyone to succeed.
Blockcast.cc: Please share an inspiring quote for our readers.
Dave: It will have to go back to my earlier comment about how cultures are different but the same.
“We All Share The Same Vision.”
Blockcast.cc: To find out more about Vision, download the app at app.vision-crypto.com/link/download. You can also follow Dave at https://twitter.com/redpillblue1. Thank you for your time Dave.
Original Source: https://blockcast.cc/interviews/blockcast-cc-interviews-dave-broomfield-community-manager-of-vision-crypto-app-we-all-share-the-same-vision/
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