Homeless or Millionaire? Flip a Coin.

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@joesmith942 7 ай бұрын

The core problem with crypto is that it has no use. New successful technologies don't take this long to show their usefulness. Since crypto has not shown that it is revolutionary by this point, the unavoidable conclusion is that it's not revolutionary. So that means it is either a collectable or paramutual betting.

@fonebook 7 ай бұрын

Agreed on crypto. Disagree on Bitcoin. Bitcoin's use is that of a savings instrument, it has done a great job over the last 15 years (unlike the US Dollar and all other FIAT currencies).

@joesmith942 7 ай бұрын

@@fonebook OK. In places like Argentina or Turkey that have hyperinflation, I agree with you about Bitcoin - or possibly other cryptos. But that's a fairly limited case. So I will change to, "next to no use". JP Morgan is still not threatened.

@FinancialCharles 7 ай бұрын

All crypto is a scam but bitcoin is real. Every single crypto thats not bitcoin was invented to chase the gains that bitcoin had. Bitcoin was invented as an alternative that the fed cannot inflate. It was invented as a response to 2008

@brendanbudniak2261 7 ай бұрын

That doesn't sound like the core problem though. You're basically just kinda randomly saying that crypto has no use but how do you know it won't be useful?

@joesmith942 7 ай бұрын

@@brendanbudniak2261 I don't know that it won't be useful - and I really don't need to know that. I see no evidence that it is useful - outside of edge cases. So far, after 14 years, the financial system has escaped revolution. Businesses have stopped talking about what they're going to do with blockchain. NFT haven't progress past some primate silliness. If you see something that I don't, then you should invest. But it should be some positive bit of knowledge that indicates to you that there will be an incredible use for crypto. If you don't have that specific knowledge, you're just gambling. That's OK, but understand that you are gambling. There are two concept you might want to think about. 1) Uncertainity - well covered in this video. 2) Espitemology - how do you know what you know. Both of these things put together will make you a good investor.

@kylemckennie2599 5 ай бұрын

Francis i had a whole lot of crypto one time decided to sell it and regret it eberyday if your gonna plah the game go 10 years plus its a guarnteed win we both know it more money will flow to the sector regardless of the future

@Lukas-cm2b 4 ай бұрын

that is exactly where i was / am. someone said it more funny lambo or food stamps.

@676gman 7 ай бұрын

Not a crypto bro, and I am glad to see that you are taking into account the risk of crypto.

@Xeqcme 7 ай бұрын

Years ago you gave a bit of insight into what you were buying. I bought into one of those stocks, and it's one of the best performing stocks I own. Over 100% so far! Sadly, I didn't put a ton of money in so it isn't life changing...but it's still great to see! Thank you.

@MidCenturyMikey 7 ай бұрын

I'm still trying to figure out what you are buying with crypto besides thin air.😮

@CamilaWidmark-vc6dg 7 ай бұрын

That means you need more education about new technology

@The.Harsh.Truths 2 ай бұрын

@@CamilaWidmark-vc6dgnot an answer. Answer his question.

@plutoflorin3649 7 ай бұрын

This is why I invest all my money in hóes!

@cyrusmorales4880 7 ай бұрын

BtB needs to educate you on the difference between assets and liabilities.

@slfanta 6 ай бұрын

I don't mean to offend but I think reentering the workforce/getting a new job would take way less brain power or stress to achieve at least certain level of financial freedom. Really, retiring early isnt as cool as you think buddy.

@slfanta 6 ай бұрын

Doesnt have to be a job in engineering. Just keep a basic flow of income so you dont need to pull out profit money from your investments.

@ClassyJohn 7 ай бұрын

I can't speak to either crypto or stocks or index funds but I do tend to live my life similarly to yours in the sense that I prefer stability, more cushion, and extremely low risk. Thats why I don't gamble!

@whysoblutube 7 ай бұрын

How’s your Dogecoin holdings? It’s been a while. Time for an update.

@CamilaWidmark-vc6dg 7 ай бұрын

He lost on memecoins that's probably why he's bitter on crypto, remember seeing him hyping Doge couple of years ago lol

@Dracomies 7 ай бұрын

Crypto is trash. I never ever deal with it. On a sidenote, what lamp is that in the back? It's so sleek! But yeah stocks and real estate are the way to go. Rule of 72 baby.

@jimjimgl3 7 ай бұрын

Two years ago a friend visited (she is 60 now and single and prob worth $2.5 to $3 million. She told me that she was putting money into crypto. I told her that, to me, crypto is an emotional buy not a strategic buy. She lost nearly all of the investment she put into crypto.

@cordrine 7 ай бұрын

Thanks for this video. I'm still new to crypto and have not invested in it yet. Your input provided me some different perspectice of evaluating whether to proceed or not. Currently I'm still not too confident to go with crypto....😅

@CamilaWidmark-vc6dg 7 ай бұрын

Study it, it's use cases and it's cycles and don't buy off of hype

@DLG24 7 ай бұрын

I've been investing on a monthly basis for a few years now, and I can promise you a sufficiently diversified investment portfolio is your best friend. Think time in the market and not timing the market.

@boomeyeay 7 ай бұрын

the bags underneath your eyes comes from investing in crypto

@solomonchau7725 7 ай бұрын

It's also a fallacy not to be investing in yourself first before anything else. At the end of the day it's you in the mirror you'll be looking back at, not your money.

@BeatTheBush 7 ай бұрын

Investing in yourself is more rewarding and pays yourself much more than any investment.

@cyrusmorales4880 7 ай бұрын

Brian Johnson invested heavily into himself.

@AlphaMatt1000 7 ай бұрын

I am a huge investor in crypto and I will say this - the more you research and understand the projects you invest in, the better your chances are of coming out with many multipliers. If youre a lazy investor and want to invest in index funds, sit back and just wait (do nothing basically) then sure you can earn 10 % year over year. Personally I'd rather be active with my investments, research the cryptos I buy and earn much more. So its a multi faceted topic I feel versus Crypto = more risky.

@nonbruh 3 ай бұрын

Crypto is risky, Bitcoin isn't

@log5925 7 ай бұрын

Good video keep it up

@jasonbroom7147 7 ай бұрын

All of the same concepts apply to debt-financing, or those people who talk about being "leveraged" to get wealthy. There is always risk. The level of risk you're willing to take will vary by individual. I like assets with long-term stability, but still with good growth potential, like S&P 500 index funds.

@Taikaru 7 ай бұрын

Good points. People really do not seem to have a good grasp on probability... in ANY kind of field, whether finances, health, or other things entirely. My relatives often focus and talk more about what has a 1% chance of occurring while almost ignoring what is 99% likely. It makes it hard to relate or collaborate on decision making... it's like we're in completely different worlds!

@googmail2155 7 ай бұрын

Crypto and Bitcoin is two completely different things, and no bitcoin will never go to zero , you have no idea what you are talking about

@bethm3152 7 ай бұрын

This is bout all I need to get some stuff taken care of financially… just a few million. That’s all

@P0palot 6 ай бұрын

Francis, crypto is booming right now. Are you buying on the FOMO or waiting for a drop?

@frugalsquirrel1725 7 ай бұрын

I think it's time for another net worth update video. Those always get plenty of views.

@livinginthe80z39 7 ай бұрын

There is no stability now. Housing interest rates high. Groceries high. Everything is high. You are not promised tomorrow. Dump it in. Not everything but scrape up 100k and throw it in. Dont mortgage your house . But shitty cars sell them. Shitty physical possessions? Sell that. Everything but the house. Cars are a depreciating asset anyway. Don’t mess with your house though.

@raymondchriszhanghernandez4789 5 ай бұрын

too scary for thos risky things i think. lol. thanks for sharing! :)

@cashmonyz 7 ай бұрын

1st comment. Hi francis. Great vids :)

@Lukas-cm2b 4 ай бұрын

how is going your dogecoin stuff :)

@user-jc6tj2xt1p 6 ай бұрын

Please use eye cream BtB.

@RushButter 7 ай бұрын

Completely agree with you. I often judge the people who had all their money in FTX, before it collapsed, though in the same vein I feel bad they were scammed out of their money. Anyways I often thought to myself, why would they keep all of their money in crypto when it’s such a risky “asset?” Like putting money in crypto is fine but why does it have to be 100% of your portfolio, why not make it less than 10%, since it’s so uncertain on where it’ll go. Great explanation!

@jimjimgl3 7 ай бұрын

Just this week we met with our financial advisor. My partner wanted to know why we didn't have an appreciation of our stock/bond investments as much as the market has risen since 2019. I knew exactly what our financial advisor was going to say: "We have you in a moderate risk investment strategy." I'm a more careful with investments and suddenly my partner wants to move more into the market. I just showed him your post and he seems to be coming down from a excessive risk wish...

@DadinWA 7 ай бұрын

crypto is volatile and risky. I am iffy on holding crypto long term vs ETFs or index funds. it's still new currency and I don't think it's worth holding long term, I'm 48y old.

@mastiffmythslegendsandlore 7 ай бұрын

I was so close to my first million last year but this market was totally is not good and just getting worse your best bet is monthly or yearly dividend stocks

@Magdalene777 7 ай бұрын

There were lots of stocks that could have made a fortune if you bought at the bottom in 2020 and rode it up. One sector was oil because at one point it was negative. However nobody knew if the market would recover so it was risky.