Dangerous TikTok Financial Advice Is Back 

satire....

@@JaydenRonaldGonsalvesnot satire when some young impressionable person would say oh that sounds like a really smart idea!🤡

@@JaydenRonaldGonsalvesbut many people are dumb enough to believe it and follow through with it.

It’s actually genius and you totally missed it. You probably have a net worth under $2M. Why poor people speak out of line is beyond me! We’re laughing at you.

@@ColumbusRealtors-m2zalright user 456789. Just as Dave Ramsey- appealing to the average individual is for the greater good. Do the math and simmer down

Just for clarity, they also said to get your Bitcoin and them pull it out into offline storage. I remember Andrei in particular (not saying Graham didn't also, just that I remember it from Andrei) before it crashed telling people it was looking bad and they should pull everything out... I had some minor bitcoin in my BlockFi wallet... It was frozen during the problems. Eventually they opened up the wallets so I could pull it back out, which I did... (And funnily enough, it's now worth more.) Blockfi in particular was very strong in saying that coins in people's Blockfi wallets were those people's coins, not Blockfis, and they followed thru on that.) Also, if someone suggests I do something and reminds me that it is risky (which they did), and I do it and lose money... (And they didn't lie about things trying to convince me to invest...) That would be on me. I take responsibility for my own actions... I got lucky and didn't lose my couple of hundred bucks. But had I lost it, it still would have been on me. (And FTX and possibly Blockfi if they knowingly lied (which FTX definitely did.), but still partially on me because I am aware that Crypto companies can be what FTX was.)

i would like to see him respond to this

So many people need someone else to blame for things nowadays... Interesting... I know, I'm old and it's a "get off my lawn" moment. ;-) Neither of those two are financial planners or accountants or financial experts. They are guys on RU-vid who talk about finances. In my opinion, if someone takes their advice and it goes bad, that is on the person taking their advice, not on them. Now, if my financial advisor, who is a professional that I go to for financial advice, advised me to invest in/thru BlockFi, then it would be different. And if one actually listens to what they have said over and over in their vids, they do talk about risk and only investing in Crypto with what you can afford to lose... But people still do that (Heck, I threw in $200 myself) and when it goes bad, blame others. As a side note, my $200 (never invest in Crypto more than what you are willing to lose, and I am cheap) that was locked up in FTX when the trouble hit, I figured was a total loss. I didn't blame them... And later, I was able to withdraw it and not it's worth like $800... Crypto is funny that way... And it is basically gambling, not investing... Note: I am not a financial advisor and no one should ever listen to me about anything, especially money! ;-) ;-)

I'm out of the loop, what happened with BlockFi?

@@Phoenix11720 They were caught up in the FTX problems as FTX had "given" them a lot of funding. As a result, when it turns out FTX didn't have the money they said, BlockFi had major issues too. BlockFi at the time locked all access to any crypto. Bankruptcy was declared. BlockFi kept maintaining to the bankruptcy courts that whatever coins were in one of their customers wallets didn't belong to BlockFi but to the customers and should be released to the customers. The courts eventually agreed (it took a long time). That isn't all of it tho, as some people had money/coins actively in BlockFi accounts (not in the customers wallets) and that is still in talks about how much of that will be able to be returned. (I didn't ever have any money in those accounts.) I saw something recently that the courts said what is remaining of FTX did have to pay a large amount back to BlockFi, so hopefully that will help some of those accounts as well... One of the good things about the recent resurgence of Bitcoin is that it might mean people can get back more of their money, at least as it was valued when the FTX crash hit. And, I'm sure there are WAY better descriptions of what happened and is still happening. ;-) Just my ramblings/thoughts on it...

😂😢😮😅

I borrowed 100K from a mob boss, best motivation ever.

Ll

Exactly!!!

Hard to predict something like that especially in a useless market like crypto if you buy crypto you deserve to lose money let's be honest

😂😢😅😊

He’s famous for uneducated crap advice. He’s a fake guru conman

Lots of finance experts were promoting FTX, nobody could have known what was going to happen. Blame SBF not Graham.

😂😢😮😅

Yeah, shorts /tiktoks are super addicting lol

Or just don't use it?

That was a Charlie munger quote.

well that's the point that tt guy missed

​@@RichardRemerWarren Buffett argued the opposite. Munger always came off as a bit up his own arse

Ikr! Compound interest is so powerful!

I've never gotten good advice from a certified financial advisor. They give mediocre advice.

Ok Boomer

@@triswilsfulwell when you’re broke they’re always going to give you the same advice

Not a financial advisor, just an accountant with nearly a decade of experience in investing. Don't take my advice. But the fact I can confidently tell you to not take my advice, is the confidence you should have telling people pushing a "get rich quick" scheme the same thing

Honestly sometimes I think people have to learn the hard way, but also I think with investing being gamified, so many people are gambling away their money and not actually Investing in the stock market

Thanks for making them!!

Remember him promoting FTX?

So listen to people who got rich from making videos? Just as stupid

"Too many poors"

Similarly, if you want to get ahead of inflation, put yourself closer to the money printers. Beware though, periods of government austerity can be detrimental to a lifestyle built too close to the horse's trough.

But why did you click on the video?

@@sprint7412 But why did you reply to my comment?

@@orangemountain457 because you said he didn't like this guy's videos for giving bad information but for some reason you still decided to watch his video and then decided to comment which helps his video. Why continue to support him?

@@sprint7412 LOL, but why did you reply to my comment?

@@orangemountain457 but why aren't you answering my question first?

Definetly noticed.

YESS!!! I've cut out nearly all processed foods and taken my diet super seriously. It's made a difference!

:)

True. My mom is one for my brother who is disabled through the VA. There is really no bar or checks except for some once a year paperwork.

@@samanthatheminimalist do you mean that there is a law? Or do you mean that it fiduciary does not act in the client best interest the only recourse is to sue?

@@samanthatheminimalist This would make a plaintiff whole if they can prove that the financial consultant did not act in the client’s best interest. However, this could be difficult to prove depending on the circumstances. It would be better if there were a standard to meet or a governing body to determine what a fiduciary actually is. Currently, this is not the case.

airball

Glad you enjoy it!

Thank u for all the knowledge you are sharing …

Second!