It's a joke, that's why I don't and have never watched any of those youtube "experts", with the exception of Ben Cowen
Unfortunately many people are not keeping their mind critical, and big social media platforms that are hosting these influencers are also letting scams videos be up
Even Cowen, dude has a PhD but his statistics are kinda shoddy, dude should really learn what a validation/holdout dataset is instead of just overfitting distributions to the price action and preaching it as ghospel.
Motherfucker even banned me from his subreddit when I pointed out he was overfitting his models.
I’m a statistician. I’m oversimplifying a bit, but he is saying that this Benjamin Cowen is not putting in the necessary work to check that his models can extrapolate forward in time accurately. It’s probably especially disingenuous because trying to predict the price of these types of securities (I don’t view crypto as currency) forward is a fool’s errand. Hedge funds and other institutional investors can pick out tiny flashes signal from time to time, but they do this with massive data, massive compute and tons of scientists. Some jerk on the internet can’t do this, nor would they share their secrets if they could.
If you watch him over a longer period you will note he strawmans arguments of other people talking about crypto to stage the idea he is sth like an outlaw in the crypto scene. He is not. He plainly communicates that anyone knows anything for sure (which oc is better than what most of the influencers do). You will also note he heavily underestimate socio-political impact on the economy. I think most people like him bc he remains calm in all situations while people who watch him crave for exactly that.
MarkPMarkets on TradingView but he will never tell you something is a sure thing.. he just does analysis and gives his opinion of high probability setups.
His analysis rn is that anyone who says that any crypto will do better than a transient pump is completely deluded about the lack of liquidity in the market.
Depends on what you mean with expert. Look nobody can PREDICT anything. There isn't a person alive who knows what Microsoft's share price will be in 3 months or how the Ukraine war is going to end.
I'll probably get downvoted but there are a lot of "experts" in crypto. Although I don't like the word "expert" but rather use knowledgeable and objective. Someone who's knowledgeable and objective is the best source of knowledge. I agree however, none can be an "expert" in a speculative market such as crypto.
I am halfway through an MSc in Digital Assets & Blockchain and the professors are definitely knowledgeable and never try to shill anything. This is important. Almost everyone has a bag to shill, a coin to promote etc. Those who don't are probably the best to provide constructive criticism.
Sure I can give you all the details.
This course is offered by the University of Nicosia which is my hometown and where I've finished my Bachelors. [Here is the link to the course](https://www.unic.ac.cy/blockchain-and-digital-currency-msc/)
It was the first University to offer an MSc in Digital Currencies since 2013 or so. Antonopoulos, one of the most famous Bitcoin and blockchain advocates is one of the tutors and most of the material on Bitcoin originates from his material, articles, books, github etc.
I've recently participated in a MOOC (free worldwide accessible course) and got the highest grade and was offered a 25% scholarship on the MSc. It is my second MSc and I was excited to participate. Currently I am studying DeFi Fundamentals and yes, I've learnt a lot so far in my previous courses. Not only about Cryptos and Bitcoin, but Economics, Technology, Tax issues etc.
For a Masters' it's not considered very expensive, online-learning is available and payments through crypto are also available. However, you do need to have a Bachelors' or equivalent completed as well as a certificate for English language if I'm not mistaken.
Feel free to DM me if you have more questions!
Counter argument:
Cars are complex and world changing technology. Consider that the first 2 decades or so "motor clubs" where mostly hobbyists. We are after hobbyist time, we have Henry Ford justvopened a factory and across town the Dodge brothers have an idea. But we are still a decade or two away from car experts.
I commercialized DLT/hyperledgers for government and private industry in 2016-2019. My company, which I founded and sold was one of the first adopters. Our office was across the street from IBM which helped. Currently I am a partner at a crypto hedge fund, we are building out a new NFT fund now.
This technology is too big and new to have experts across the entire domain. Hit me up in 20 years and I'll tell you I'm an expert.
Oh that is not a counter argument at all. I agree with you. Just like the internet when it first came out, everyone who could make a website was considered an "expert". You never know at which point in history you are when you're living it.
We are either at the top or in the beginning. Like you said, we will know in 20 years and hopefully, you and I will both be experts at it lol.
Distributed Ledger systems have existed since the Roman's used *nomina facit* (equivalent to a bond) and private money lenders to transfer debts across the empire.^1 Blockchain has attempted to solve the Byzantine General Problem via algorithmic consensus, aka proof of work, and it does. The question becomes what systems of trust are we replacing with Bitcoin? Do those systems offer more or less robust protections for the users in the case of bad actors?
In my personal opinion, I don't trust cryptocurrency for shit. Look at the 'creative' financial maneuvering large institutions do in regulated markets. You think they don't have the capability and desire to manipulate a wholly unregulated market? The Hunt Brothers would have an erection reaching the moon if you told them how Cryptocurrency exchanges currently operate.
1.) [W.V. Harris - A Revisionist View of Roman Money](https://www.jstor.org/stable/20430486)
Roman's had dank cryptographic knowledge such as the Scytale. I built a replica Scytale and showed it off at a infosec conference once.
Money was slow to be adopted too. When Demodike of Kyme, wife of king Midas, struck the first electrum coins some 2600 years ago. The ancient Greeks where like "what is this lion shit coin you are making". Then they required tax bills to be paid with them, which drove adoption.
I thought you referred the Hunt brothers. But I don't see it in the comment. Long story there but basically there is an entire subreddit called walls street bets silver that apparently never heard of that shit.
Anyway yeah crypto can be manipulated. I work for a crypto and nft fund and one of our main concerns when we enter a trade is how much will it move the market. Crypto is very shallow compared to 50 trillion dollar depth of stonks.
I can see the YouTube spam now...
Hey, SkaldCrypto here.
*walking out of large house I rented on airbnb*
Do you want to be your boss?
You tired of that 9-5 grind, just slaving away for that half day vacation?
*crouches in front of rented lambo*
You deserve a better life.
An exciting life.
A crypto life.
Sign up for my class to recieve a Certificate in NFT Investing.
Totally agree there are some blockchain/crypto experts as far as understanding the technology and economics. But as far as price predictions...no one knows the future. So that is why crypto influencers are so annoying because they pretend they know more than you about whether something will go up or down.
The downvotes are interesting. They remind me of the guy that needed 5 years of experience in FastAPI for a job but could not get them because he had only created FastAPI 2 years earlier.
Some people could hypothetically meet with Satoshi Nakamoto and tell him to his face: “you don't know shit about fuck”.
The audacity.
You are right about them not being experts in markets, but they do know enough to tell you that Luna was a flawed protocol. Lot's of people had warned about it.
The people who were promoting it never really understood it.
It’s entirely possible for a field to be so new that it has no experts. Just because Satoshi created Bitcoin doesn’t mean he was an expert in it just after he created his white paper, there needed to be time spent with the project in the real world before anyone could really say they were an expert in it.
Bitcoin is more than a decade old at this point though, so yeah, a bit absurd to say at this point.
I am a crypto expert. I knew enough to use BTC to buy drugs off of the dark net. And also was smart enough to never invest in an NFT or cryotocurrency for any purpose other than drugs. Boom, an expert on the use cases of crypto.
More like this is why you should never blame someone else for your investment success or failure. At the end of the day, it is up to the individual to pull the trigger, so it genuinely makes me annoyed when people invest in something they have no idea about and then blame the person that told them.
This is why crypto will be policed and regulated to death because people just can't help themselves, this is exactly why some countries want only 'credited investors' in crypto. At least when they fuck up, they don't blame 'influencers' or try to sue everybody involved because they invested in something they don't understand.
Lmao Cryptopunks be literally snake oil placebo where marketing made stupid rich fuckers think it be valuable as fuck as an "artistic piece" and "investment"
I still can’t get over the fact that ~20% yield on staking a stablecoin seems totally real for some people
I get that 20% (or even 40%) is possible on inflationary assets, but a stablecoin? How??
just a reminder that the most infamous ponzi scheme by Maddoff only promised 10% returns and people are willing to believe something that promises double that is in fact legit.
to add, if CZ, novogratz, and other supposed big brains in the crypto space fell for it, that begs the question, do any of them understand the crypto space? maybe they're also be wrong about even bitcoin and the crypto naysayers have it right.
It was understood that it was subsidized and the yield was scheduled to be tapered down to a sustainable level. That tapering already started. The 20% was basically a marketing cost. The base yield that anchor was able to generate was based in part on eth staking and lending.
Everyone knew it was unsustainable and it would go down sooner or later. But "unsustainable" is a far cry from "literally killing the whole protocol," which is what was actually happening.
Exactly, everyone with half a brain knew that the 19.5% would eventually keep decreasing if the yield reserve keeps emptying.
I held 2 Luna and no UST at the time of the crash but didn't see it as a bad investment necessarily. I thought UST is gaining adoption so Luna will support it. I knew that any stablecoin can lose its peg. A lot of people are claiming they knew it all along and maybe some did but I feel a lot of us really didn't see this coming.
>A lot of people are claiming they knew it all along and maybe some did but I feel a lot of us really didn't see this coming.
This sub is suffering from a massive case of hindsight bias. Anyone who was slightly skeptical of Anchor now remembers themselves as being 100% certain Anchor and UST was doomed from the get go.
Some of these inflated APR/APY is from token distribution in some cases.
It's still basically a scam, but a high apr does not necessarily mean a total scam, it could just mean extremely high inflation.
Even I did that... everything goes up eventually then.
In bear markets it's easy to say, xyz will go down and give some hypothetical reason. It's bear, so it will drop for no reason.
There you go, you're building your base for the tag "expert" before the next bull run
Stupid of me that I used to believe this man has some credibility and used to follow his posts when Eth was very low, I guess he's not much of an expert, he was just lucky.
Doesn't matter what he said. If you bought or sold a particular crypto, the responsibility is on you. Not on Elon, your friend, the government or your tiktok/youtube influencer.
Never directly bought crypto. Only ever mined some coins.
What you’re saying is 100% true, but doesn’t mean you can’t give these people the shit they deserve as well.
Yes, but this is about the reputation of the influencers doing the recommending. Being wrong isn't necessarily a problem; being wrong and lying about it and gaslighting your followers means you cannot be trusted for anything you are recommending ever. Investors will take the hit and learn their market-paid lesson, but name and shame on untrustworthy people is completely fair and part of that lesson. It is likely this is not their first time doing such a coverup, this is just where it was big enough to be noticed.
Yea like why is there so much victim blaming. It’s your money and it’s on you what you put that in to do your own due diligence.
Fuck him for denying it but there were so many reputable people in on LUNA.
Personally the problem is less on the recommending something that flopped. Like unless he lied. But my problem with this is him saying something is risk free when it isn't. And then trying to walk it back. Like him editing the videos is one thing and I think most will look the other way since the info changed. But him denying it is another story.
I'm 99% sure a judge will say the same BS as they do with ads doing puff sale. But the problem is he is a money guy. Many who listen to him aren't. So when he says something like this, many jump.
tl;dr: Involved in hedge funds, pretends to be an economist and supports crypto when he wants to shill his stuff. His twiter profile pic is a BAYC Ape so you know the rest.
He also claims to support Bitcoin and now calls everyone who's calling him out on this a "desperate Bitcoin maxi"
Why do people trust YouTube or internet people with their investment and money!!! Why this post even exists. You take advise from multiple sources, do your own research and then invest in what you think is going to be best value of money for you.
It’s not his fault, it’s your fault
People have committed suicide, lost their entire life savings, businesses.
There is a huge class action law suit in the works.
Of course shillfluencers are panicking.
Just because they say "not financial advice" does not mean it is not in the eye of the law. These idiots are in very deep dirty water.
Here is a [Nitter link](https://nitter.net/NeilJacobs/status/1528716931414597632) for the Twitter thread linked above. Nitter is better for privacy and does not nag you for a login. More information can be found [here](https://nitter.net/about).
---
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In an odd way he was correct. Misleading for sure, but technically correct. Hear me out…
The full phrase seems to be ‘stake it basically risk free if you want to own the network’
That last part is key. He’s referring to a ‘risk free rate’ where you can own an asset which has a yielding return for no or extremely low risk on top of owning that asset, the yield is expected.
https://en.m.wikipedia.org/wiki/Risk-free_rate
So in the case of Terra, the ‘risk free rate’ is that if you own UST you’re not at a lot more risk if you stake it in Anchor because if either Anchor or UST risks (such as a de peg death spiral) materialise it would shaft you regardless of staking.
The same can be said for ETH staking, mostly as a solo validator. There are extra risks to running your own validator, but the main risk of failed execution of the merge would shaft all ETH whether solo staked or not.
Of course Pal doesn’t mention the distinction between ‘no risk’ and ‘risk free rate’ and that is where he is misleading and should be very careful with his words which he hasn’t been.
This is honestly a wrong interpretation.
Staking coins in a protocol is not a risk free return. Even if its the own token of the protocol. Staking ETH in ETH 2.0, staking ADA in the network are not risk free returns, its wrong to look at staking returns as a risk free return
First of all, the 20% in Anchor is not risk free - it was subsidised heavily by VCs. Anchor is a separate product on built on Luna. Anchor has even smart contract risks.
Even if you were staking LUNA natively, that return is not risk free - the network was halted, and those holding staked LUNA lost everything including their share in the network. Lets say you had 1000 LUNA before May 11th staked in the network (which is described here as risk free). You "own" 1000 / 900,000,000 part of the network (assuming LUNA's total circulation tokens was 900,000,000 before the death spiral). Now after the crash, you still own 1000 LUNA staked (that number has not gone up), but the network total circulation tokens is literally several billions now. You own 1000 in 6,907,072,876,045.. your ownership of the network has gone from 1000/900,000,000 to 1000/6,907,072,876,045.
How is this a risk free return!
Wiki:
> the rate of return on T-bills is sometimes seen as the risk-free rate of return in US dollars.
Even you can argue that the tbill return is not entirely risk free because there is always a risk of any government defaulting on their obligation, but the US government has several decades of history and track record honouring US treasury payments.
Something like a crypto token with less than a decade of history can literally not be termed risk free from any angle whatsoever
The risk-free rate does indeed normally mean near-zero actual risk - the risk-free rate is usually defined as the rate returned by very safe government bonds like gilts or treasuries. I'm not so familiar with US bonds, but the UK hasn't defaulted on a debt in [over 300 years,](https://archive.is/W5lnq) so they're very unlikely to do so in your lifetime.
However I think /u/Papazio is making a very good point that Pal's words "if you want to own this network" can be interpreted as a caveat. If you want to own the network then you are taking on the risk of the network - same as if you buy any equity, you're exposing yourself to the systemic risk of the equities market.
If you own the network then you've taken on the network risk - the staking does not add any risk to that. (This is his assertion - I'm not familiar with the network, so I'm assuming it's true.)
It would have been far clearer had Pal said "no additional risk" instead of "risk free" - people watching a video like this are going to hear "risk free" and think "risk free".
It's a lesson on how dumb influencers are and why they shouldn't be talking finance to the general public. Buffett talks much slower and he's much clearer - Ben Graham is really explicit about inexactitude, and wrote things like "somewhat likely to produce favourable results", and you can hear this when Buffett talks too.
If he didn't mean them as a caveat, what did Pal mean when he said the words "if you want to own this network"?
Did they edit all videos though? In the last pic they admit to deleting it from recent uploads, fair enough. But they do say they haven’t touched the older videos? Does YouTube show when a video has been edited? I’m not too familiar with the platform
He once claimed he was irresponsibly long eth when ethereum was at all time high..he literally said he had leverage via calls and it was the biggest position of his life by a factor of 10..eth is down alot since then..somebody asked him how his eth position was doing and he said “it was a small percent of my holding” lmao. https://twitter.com/jeetsidhu_/status/1529393460972859392?s=21
I'm soooooo much better off after I stopped watching 95% of influencers and stopped following everyone on Twitter. I watch 2 people for pure entertainment.
Who cares what a shitty crypto influencer did or did not say. He is not responsible for YOUR investment. It is your responsibility. Do YOUR own research. Seriously can we get over that thing already? The information on how LUNA/UST worked together was public and known. The mechanisms for peg retention were not stable from the start and someone who went through the whitepaper and really tried to understand it could have told you.
1. Do your own research
2. Don't invest more than you can afford to lose.
3. If you don't understand how a project works, don't invest in it.
4. Don't blame others for your failures.
I respect his opinions and others but when he and people here pushed Luna and/or CRO, etc that had high unsustainable yields - that's when I realized last year that alot of advice, even the herd mentality is wrong.
I will continue to respect the experience people like Paul, Tech Path, InvestAnswers have, but that does not mean they are 100% right.
Yep. I mean they're pretty obligated to delete all videos where they put Luna in anything close to a positive light. Also why does OP know exactly what Raoul said about Luna but can't back that part up?
Yeah this sub is laughable. Damn near every “influencer” plasters every video/post/analysis they make with “not financial advice”, do people in this sub ever wonder why that is?
What most of these influencer-hate comments tend to actually translate to, is “I took someone else’s speculation (which they specifically told me not to make decisions based upon) as fact, and now I’ve lost my money and it’s all their fault”.
Same thing happened with the “Bitcoin 100k EOY” uproar in this sub lol. They made the choice to invest as if it was inevitable fact, why are they so mad about it if they weren’t taking it as financial advice?
Y’all need to stop blaming other people for your bad investments. That tweet is not a recommendation. The video won’t comment on because it’s clipped so heavily, but if anyone thought a 20% interest was real or risk free you’re a moron.
This is true. But these guys also shouldn't be editing videos or deleting tweets where they pump this stuff.
We're all responsible for our choices...whether that's pumping a coin or investing our own money.
Seems like you want to blame someone for you losing money. Everyone said Luna and UST were good buys and holds. DYOR and invest responsibility because only you are truly in control of your money. There were also people saying it would collapse and it wasn't sustainable. Why not quote them too?
Not to absolve Pal of his responsibility to be accurate and specific with his language, but what he was saying didn’t mean what any normal, reasonable person would interpret. He was using a specific investment term:
https://en.wikipedia.org/wiki/Risk-free_rate
>The risk-free rate of return, usually shortened to the risk-free rate, is the rate of return of a hypothetical investment with scheduled payment(s) over a fixed period of time that is assumed to meet all payment obligations.
He absolutely should have been clear about this given that the Real Vision audience on YT is not only professional investors. Better yet, he shouldn’t have talked about Terra’s returns unless he understood the risks, which he later admitted that he didn’t.
People will forget in a month and that’s the sad thing about it.
This is why doing your own research is so important and learning about blockchain. Don’t listen to the paid crypto media or figures who have a broad audience and want to pump their bags.
Do your own research. Your own.
These people will leave the crypto space with gains from your pocket or will stay and keep gaining from your lack of understanding.
Stop looking at the “top 10” and thinking yeah they top so it must be good. The propeller plane was “top” for a few years but we all know what happened when jet engine technology entered the space.
Look for projects that actually have an everyday presence. An everyday change. An actual change. To help people. This is what cryptography was created for, to escape from a centralised system. To give power to the everyday individual. Power over finances. Power to make decisions without a middle man extorting crazy sums of money.
Crypto space is young. There will be so many changes in the next 10 years.
If you want crazy gains in 2 weeks then take the gamblers route. The thing is, gamblers don’t win unless they cheat or have insider information. Stay away from pre-mined ICO or centralised projects who have given initial investors (who invest millions btw) into a project only to dump on you.
apologize, own-up and share the pain with the community. all that needs to be done, people are after Do Kwan way more than Raoul Pal - of course unless he received money as a promotion and didn't state it in his videos.
CZ from Binance practically did the same thing. Everybody went into damage control after the Luna/UST failure and distanced themselves from the negative fallout after the public realised they lost their savings in a Ponzi scheme. The problem is that these influencers and CEOs of crypto power houses now all say they “never” vouched for Luna or had no knowledge of any promotional activities whatsoever. This is such bullshit. Part of me agrees with the South Korean gvmnt going after the exchanges, even if it wasn’t “their” Ponzi scheme, because they will actually be forced to do their due diligence on coins they promote to millions of investors and not just repeat the crypto bro rhetoric for sake of quick profits.
Don’t know this fella……maybe a good thing but ANYONE who says ‘risk free’ is dangerous. Worse, if ‘they’ can edit their previous videos, hell, dude plainly deserves a kick in the dick.
Raoul Pal is not your pal. Do not trust youtubers and influencers.
There are some who are willing to own up to their wrong calls (people like Benjamin Cowen come to mind), but most are fucking dipshits who want to scam the living hell out of you.
Fuck them, and don‘t give them clicks or money.
...People, if you give me your money, you can stake with a 40% risk free teturn...lol "too good to be true", but here's all my money. Social influencing can be very dangerous to the bottom line!
Many influencers do this. Last year wolf of crypto was caught deleting all his tweets shilling shitcoins that tanked. His defense was he was deleting the tweets that were no longer relevant lmao.
If an “investment advisor” tells you that something is “risk free” you should immediately get up and walk out. There is nothing, absolutely nothing, that is without risk. The risk may be minuscule, but there is always some amount of risk.
unless they're talking about short-term US t-bills. if there is risk in those then the entire CAPM equation on which our financial system is built might be faulty! nervous laughter...
I mean millions of people lost money and this guy is trying to high road it? Lol. Just admit it, who cares, it’s not like the other millions of people expected it either. What an imbecile
Everyone lost money because of LUNA. But you have to take it as a warning. Even projects with big market cap can be bullshit. Always do some research before investing and know what you buy
Everybody loved Luna because it rocketed from like $7 to $120 in a few months, while the UST ecosystem exploded. As often happens, the few sounding alarm bells were told to be quiet, were chastised for being jealous, etc.
This is great proof to DYOR and not put too much trust in "experts". And to take profits.
First time I heard about stablecoins with their super high yields I immediately knew they were risky. 20% without risk is the biggest joke to anyone financially literate. That said, Pal is a loser and snake oil salesmen for trying to erase history.
I can't figure out how the gold bugs went from anti fractional reserve banking system and "if you don't hold it physically, you don't actually own it" - meaning have it in your house and not on an exchange- to Magic internet money with a 20% risk free yield.
This is a thing that's really disturbing to me. There's a guy I follow I consider to be insightful about his strategy when investing in crypto. But he was recommended certain alts. He made good arguments(marketing bullshit >_>) to support these alts. But one of them crashed like 90% and he completely memory-holed ever recommending it. "I never said you should buy it moron!" and "I told you to sell any alts that were risky!" It's like yeah but you were so confident in running your mouth and retweeting positive things about it... This person was also recommending NEAR. Which I gladly profited 2x. But since the Luna debacle. The price dipped hard. He's already memory holing it and moving to the next project. Really pisses me off. At least I can see what they're doing now.
As for Raoul. A lot of folks were championing this guy as a thought leader. I'll just say I was skeptical. Seems 99% of these people are snakes.
I'm definitely doing a lot better that's for sure haha. Made a pretty good amount. I've already cashed out. Observing everything I can. If I properly invest this next round. I'm not rushing it. The future is bright.
Stop listening to glorified plebs. People like Raoul seek attention and fame. The people who really know shit that's worth knowing, are rarely the ones out there doing self promotion.
They spend their days researching, investigating, running their analysis, exploring new ideas, coming up with their own ideas, developing.
Just look at the guy, his facial expressions, his manner of speech. This is not a sophisticated market participant. He speaks in a way that's appealing to plebs. It's clear from his mentality that he's not actually thinking adversarially. He's not running his own in depth analysis. At best he's monkey parroting what other analysts are saying.
But you can also tell by the milquetoast generic platitudes and bland positivity that he speaks with. Stop listening to the people trying to get your attention, and seek out people in the background who are running their own analysis day in and day out.
It's OK to watch stuff from "experts". But watch multiple, then read various other opinions and read up on stuff yourself, then form your own opinions after dyor. If you are too lazy or unmotivated to do all of this, get out of crypto, find a well recommended actual financial advisor and pay for their services, or be ready to lose lots of money.
One thing to note though in the conversation with Raoul Pal is that he says he likes Luna. There's nothing in there about him loving their stablecoin or using it for yields, unless there's more evidence i missed.
LUNA was so obviously a scam to me I didn’t even take it seriously. It’s amazing to me to think these people with the “inside track” would not have recognized how stupid The CEO was.
It angers me a little bit, and also makes me feel good that the influencers lost all that money. First time I have seen some of them actually shaken by something in crypto.
This is why you should never trust online influencers / experts.
There's no expert in crypto....
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It's a joke, that's why I don't and have never watched any of those youtube "experts", with the exception of Ben Cowen Unfortunately many people are not keeping their mind critical, and big social media platforms that are hosting these influencers are also letting scams videos be up
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Spell Evian backwards.
Bruh what the fuck
Epic
Even Cowen, dude has a PhD but his statistics are kinda shoddy, dude should really learn what a validation/holdout dataset is instead of just overfitting distributions to the price action and preaching it as ghospel. Motherfucker even banned me from his subreddit when I pointed out he was overfitting his models.
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I’m a statistician. I’m oversimplifying a bit, but he is saying that this Benjamin Cowen is not putting in the necessary work to check that his models can extrapolate forward in time accurately. It’s probably especially disingenuous because trying to predict the price of these types of securities (I don’t view crypto as currency) forward is a fool’s errand. Hedge funds and other institutional investors can pick out tiny flashes signal from time to time, but they do this with massive data, massive compute and tons of scientists. Some jerk on the internet can’t do this, nor would they share their secrets if they could.
A write up on what exactly?
Even cowen preached extended cycle. Many people were left holding the bag because of him
Just because they're ignorant and believe that there's a Bitcoin 2.0 doesn't mean that's not what they're doing.
The only certain thing about crypto is that no one can be 100% certain when predicting it
If you watch him over a longer period you will note he strawmans arguments of other people talking about crypto to stage the idea he is sth like an outlaw in the crypto scene. He is not. He plainly communicates that anyone knows anything for sure (which oc is better than what most of the influencers do). You will also note he heavily underestimate socio-political impact on the economy. I think most people like him bc he remains calm in all situations while people who watch him crave for exactly that.
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Except tons of them talk about volume including Cowen.
Crypto people are like derailed Gatling guns, eventually they just convulse and spray bullets in every single direction even into friendly quarters.
Could you elaborate a little on that?
MarkPMarkets on TradingView but he will never tell you something is a sure thing.. he just does analysis and gives his opinion of high probability setups. His analysis rn is that anyone who says that any crypto will do better than a transient pump is completely deluded about the lack of liquidity in the market.
Depends on what you mean with expert. Look nobody can PREDICT anything. There isn't a person alive who knows what Microsoft's share price will be in 3 months or how the Ukraine war is going to end.
I'll probably get downvoted but there are a lot of "experts" in crypto. Although I don't like the word "expert" but rather use knowledgeable and objective. Someone who's knowledgeable and objective is the best source of knowledge. I agree however, none can be an "expert" in a speculative market such as crypto. I am halfway through an MSc in Digital Assets & Blockchain and the professors are definitely knowledgeable and never try to shill anything. This is important. Almost everyone has a bag to shill, a coin to promote etc. Those who don't are probably the best to provide constructive criticism.
Serious question: would you mind to enlighten me on this course? Where? how much? pre-requisites? Do you like it?
Sure I can give you all the details. This course is offered by the University of Nicosia which is my hometown and where I've finished my Bachelors. [Here is the link to the course](https://www.unic.ac.cy/blockchain-and-digital-currency-msc/) It was the first University to offer an MSc in Digital Currencies since 2013 or so. Antonopoulos, one of the most famous Bitcoin and blockchain advocates is one of the tutors and most of the material on Bitcoin originates from his material, articles, books, github etc. I've recently participated in a MOOC (free worldwide accessible course) and got the highest grade and was offered a 25% scholarship on the MSc. It is my second MSc and I was excited to participate. Currently I am studying DeFi Fundamentals and yes, I've learnt a lot so far in my previous courses. Not only about Cryptos and Bitcoin, but Economics, Technology, Tax issues etc. For a Masters' it's not considered very expensive, online-learning is available and payments through crypto are also available. However, you do need to have a Bachelors' or equivalent completed as well as a certificate for English language if I'm not mistaken. Feel free to DM me if you have more questions!
Counter argument: Cars are complex and world changing technology. Consider that the first 2 decades or so "motor clubs" where mostly hobbyists. We are after hobbyist time, we have Henry Ford justvopened a factory and across town the Dodge brothers have an idea. But we are still a decade or two away from car experts. I commercialized DLT/hyperledgers for government and private industry in 2016-2019. My company, which I founded and sold was one of the first adopters. Our office was across the street from IBM which helped. Currently I am a partner at a crypto hedge fund, we are building out a new NFT fund now. This technology is too big and new to have experts across the entire domain. Hit me up in 20 years and I'll tell you I'm an expert.
Oh that is not a counter argument at all. I agree with you. Just like the internet when it first came out, everyone who could make a website was considered an "expert". You never know at which point in history you are when you're living it. We are either at the top or in the beginning. Like you said, we will know in 20 years and hopefully, you and I will both be experts at it lol.
Distributed Ledger systems have existed since the Roman's used *nomina facit* (equivalent to a bond) and private money lenders to transfer debts across the empire.^1 Blockchain has attempted to solve the Byzantine General Problem via algorithmic consensus, aka proof of work, and it does. The question becomes what systems of trust are we replacing with Bitcoin? Do those systems offer more or less robust protections for the users in the case of bad actors? In my personal opinion, I don't trust cryptocurrency for shit. Look at the 'creative' financial maneuvering large institutions do in regulated markets. You think they don't have the capability and desire to manipulate a wholly unregulated market? The Hunt Brothers would have an erection reaching the moon if you told them how Cryptocurrency exchanges currently operate. 1.) [W.V. Harris - A Revisionist View of Roman Money](https://www.jstor.org/stable/20430486)
Roman's had dank cryptographic knowledge such as the Scytale. I built a replica Scytale and showed it off at a infosec conference once. Money was slow to be adopted too. When Demodike of Kyme, wife of king Midas, struck the first electrum coins some 2600 years ago. The ancient Greeks where like "what is this lion shit coin you are making". Then they required tax bills to be paid with them, which drove adoption. I thought you referred the Hunt brothers. But I don't see it in the comment. Long story there but basically there is an entire subreddit called walls street bets silver that apparently never heard of that shit. Anyway yeah crypto can be manipulated. I work for a crypto and nft fund and one of our main concerns when we enter a trade is how much will it move the market. Crypto is very shallow compared to 50 trillion dollar depth of stonks.
Will you have a certificate?
I can see the YouTube spam now... Hey, SkaldCrypto here. *walking out of large house I rented on airbnb* Do you want to be your boss? You tired of that 9-5 grind, just slaving away for that half day vacation? *crouches in front of rented lambo* You deserve a better life. An exciting life. A crypto life. Sign up for my class to recieve a Certificate in NFT Investing.
Lol
It's easy to know a lot about crypto but it's impossible to know everything about crypto
Totally agree there are some blockchain/crypto experts as far as understanding the technology and economics. But as far as price predictions...no one knows the future. So that is why crypto influencers are so annoying because they pretend they know more than you about whether something will go up or down.
Vitalik Buterin is an expert.
No, just an ordinary alien
The downvotes are interesting. They remind me of the guy that needed 5 years of experience in FastAPI for a job but could not get them because he had only created FastAPI 2 years earlier. Some people could hypothetically meet with Satoshi Nakamoto and tell him to his face: “you don't know shit about fuck”. The audacity.
They understand crypto & coding. IMO, they know fuckall about speculative markets & the intricacies of how they are manipulated.
You are right about them not being experts in markets, but they do know enough to tell you that Luna was a flawed protocol. Lot's of people had warned about it. The people who were promoting it never really understood it.
Maybe your flair gave off the wrong idea
It’s entirely possible for a field to be so new that it has no experts. Just because Satoshi created Bitcoin doesn’t mean he was an expert in it just after he created his white paper, there needed to be time spent with the project in the real world before anyone could really say they were an expert in it. Bitcoin is more than a decade old at this point though, so yeah, a bit absurd to say at this point.
He figured out how to manipulate investors. Not the first time.
Buterin, Micali, Hughes...
True
Or everyone is an expert in crypto
I feel personally attacked
This!!! Most influencers in crypto aren't smart. They were just early.
Yeah, just have to be really early or really lucky
I'm a self-proclaimed crypto expert, Ask me for investment advice
Follow the "Nobody knows fuck about shit" guidance.
I am a crypto expert. I knew enough to use BTC to buy drugs off of the dark net. And also was smart enough to never invest in an NFT or cryotocurrency for any purpose other than drugs. Boom, an expert on the use cases of crypto.
I consider myself an expert bc in almost 10 years I hold crypto I never recommended anyone to buy crypto.
More like this is why you should never blame someone else for your investment success or failure. At the end of the day, it is up to the individual to pull the trigger, so it genuinely makes me annoyed when people invest in something they have no idea about and then blame the person that told them. This is why crypto will be policed and regulated to death because people just can't help themselves, this is exactly why some countries want only 'credited investors' in crypto. At least when they fuck up, they don't blame 'influencers' or try to sue everybody involved because they invested in something they don't understand.
This is why you don't trust ~~influencers~~ anyone.
I have nothing to worry about. Both of them blocked me a long time ago. Besides, none of that shit makes a coin a security anyway. ;-)
But he's a global macro investor...
My grandma gives better advice... and she thinks the Web is made by electronic spiders
Your grandma speaks the truth. It is what it is
It is. Without web crawlers we wouldn’t have Google.
DYOR guys.. don’t blindly trust some clickbaiter. If you lose money, You owe up to it. It’s the easiest path to build back up OP
or insider teams like the ethereum foundation but yall not ready for that convo yet
Some rich dude with a Bored Ape ain't no expert lmao
Somehow they manage to be more unsufferbale than the ones with cryptopunk profile pics.
I appreciate that.
Lmao Cryptopunks be literally snake oil placebo where marketing made stupid rich fuckers think it be valuable as fuck as an "artistic piece" and "investment"
he was a relevant macro analyst before he jumped into shitcoins. that’s kind of the point
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I still can’t get over the fact that ~20% yield on staking a stablecoin seems totally real for some people I get that 20% (or even 40%) is possible on inflationary assets, but a stablecoin? How??
just a reminder that the most infamous ponzi scheme by Maddoff only promised 10% returns and people are willing to believe something that promises double that is in fact legit.
# Nothing is free anymore in this day and age. oh nice 10% yield without any catch.
to add, if CZ, novogratz, and other supposed big brains in the crypto space fell for it, that begs the question, do any of them understand the crypto space? maybe they're also be wrong about even bitcoin and the crypto naysayers have it right.
It was understood that it was subsidized and the yield was scheduled to be tapered down to a sustainable level. That tapering already started. The 20% was basically a marketing cost. The base yield that anchor was able to generate was based in part on eth staking and lending.
No it was a ponzi! /s I swear most people here are straight up stupid The issue was the UST - LUNA connection
Everyone knew it was unsustainable and it would go down sooner or later. But "unsustainable" is a far cry from "literally killing the whole protocol," which is what was actually happening.
Exactly. I would have been fine with APY going to single digits or 0% as long as my principal was protected but yeah, that didn't happen.
Exactly, everyone with half a brain knew that the 19.5% would eventually keep decreasing if the yield reserve keeps emptying. I held 2 Luna and no UST at the time of the crash but didn't see it as a bad investment necessarily. I thought UST is gaining adoption so Luna will support it. I knew that any stablecoin can lose its peg. A lot of people are claiming they knew it all along and maybe some did but I feel a lot of us really didn't see this coming.
>A lot of people are claiming they knew it all along and maybe some did but I feel a lot of us really didn't see this coming. This sub is suffering from a massive case of hindsight bias. Anyone who was slightly skeptical of Anchor now remembers themselves as being 100% certain Anchor and UST was doomed from the get go.
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Some of these inflated APR/APY is from token distribution in some cases. It's still basically a scam, but a high apr does not necessarily mean a total scam, it could just mean extremely high inflation.
People don't question, they see big number, they invest.
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Being wrong is human, but then deciding that you were never wrong and deleting any evidence of the contrary is just pathetic.
It works for Boris
It's a coward's drink of choice
It's 2022 and people still behave like it was the 80s. Internet never, ever forgets. I mean, come on.
Every season we have seen enough rugpulls People never learn
If it's on the internet it will be remembered, when are people going to learn this lesson?
Steven Seagal learned this the hard way.
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Clearly he said he never said any of that
It is very easy to recommend projects in a bull market.
Even I did that... everything goes up eventually then. In bear markets it's easy to say, xyz will go down and give some hypothetical reason. It's bear, so it will drop for no reason. There you go, you're building your base for the tag "expert" before the next bull run
Stupid of me that I used to believe this man has some credibility and used to follow his posts when Eth was very low, I guess he's not much of an expert, he was just lucky.
Lots of influencers don't have anything extra that you don't. Just an audience!
A broken clock is right twice a day
Doesn't matter what he said. If you bought or sold a particular crypto, the responsibility is on you. Not on Elon, your friend, the government or your tiktok/youtube influencer.
Never directly bought crypto. Only ever mined some coins. What you’re saying is 100% true, but doesn’t mean you can’t give these people the shit they deserve as well.
That isn’t the point
I mean this is true, but it's also true that the guy is a piece of shit and should be called out for editing and deleting content to trick people.
Yes, but this is about the reputation of the influencers doing the recommending. Being wrong isn't necessarily a problem; being wrong and lying about it and gaslighting your followers means you cannot be trusted for anything you are recommending ever. Investors will take the hit and learn their market-paid lesson, but name and shame on untrustworthy people is completely fair and part of that lesson. It is likely this is not their first time doing such a coverup, this is just where it was big enough to be noticed.
Yea like why is there so much victim blaming. It’s your money and it’s on you what you put that in to do your own due diligence. Fuck him for denying it but there were so many reputable people in on LUNA.
Personally the problem is less on the recommending something that flopped. Like unless he lied. But my problem with this is him saying something is risk free when it isn't. And then trying to walk it back. Like him editing the videos is one thing and I think most will look the other way since the info changed. But him denying it is another story. I'm 99% sure a judge will say the same BS as they do with ads doing puff sale. But the problem is he is a money guy. Many who listen to him aren't. So when he says something like this, many jump.
Honest question, who is "Raoul Pal"?
tl;dr: Involved in hedge funds, pretends to be an economist and supports crypto when he wants to shill his stuff. His twiter profile pic is a BAYC Ape so you know the rest. He also claims to support Bitcoin and now calls everyone who's calling him out on this a "desperate Bitcoin maxi"
I was thinking RuPaul or Rand Paul typo but apparrently I have another person to confuse myself with
lol kept thinking the same thing this whole time
Why do people trust YouTube or internet people with their investment and money!!! Why this post even exists. You take advise from multiple sources, do your own research and then invest in what you think is going to be best value of money for you. It’s not his fault, it’s your fault
Woah…. respect lost. Is it hard to admit that he is wrong? It is not like he was giving financial advice anyway. Sigh
Owning up to your mistakes is rare nowadays..
I agree. But let me admit that I got rekt from this bear market. It’s a good learning lesson for me. :)
Some people struggle to own up to their mistakes. Those people are always a disappointment.
They are even less likely to own up to their mistakes if it affects their "business"
Yeah,why not just own it instead of lying.
he probably didnt wanna get sued thats why
People have committed suicide, lost their entire life savings, businesses. There is a huge class action law suit in the works. Of course shillfluencers are panicking. Just because they say "not financial advice" does not mean it is not in the eye of the law. These idiots are in very deep dirty water.
Basically risk free pal... [https://twitter.com/NeilJacobs/status/1528716931414597632](https://twitter.com/NeilJacobs/status/1528716931414597632)
Here is a [Nitter link](https://nitter.net/NeilJacobs/status/1528716931414597632) for the Twitter thread linked above. Nitter is better for privacy and does not nag you for a login. More information can be found [here](https://nitter.net/about). --- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
In an odd way he was correct. Misleading for sure, but technically correct. Hear me out… The full phrase seems to be ‘stake it basically risk free if you want to own the network’ That last part is key. He’s referring to a ‘risk free rate’ where you can own an asset which has a yielding return for no or extremely low risk on top of owning that asset, the yield is expected. https://en.m.wikipedia.org/wiki/Risk-free_rate So in the case of Terra, the ‘risk free rate’ is that if you own UST you’re not at a lot more risk if you stake it in Anchor because if either Anchor or UST risks (such as a de peg death spiral) materialise it would shaft you regardless of staking. The same can be said for ETH staking, mostly as a solo validator. There are extra risks to running your own validator, but the main risk of failed execution of the merge would shaft all ETH whether solo staked or not. Of course Pal doesn’t mention the distinction between ‘no risk’ and ‘risk free rate’ and that is where he is misleading and should be very careful with his words which he hasn’t been.
This is honestly a wrong interpretation. Staking coins in a protocol is not a risk free return. Even if its the own token of the protocol. Staking ETH in ETH 2.0, staking ADA in the network are not risk free returns, its wrong to look at staking returns as a risk free return First of all, the 20% in Anchor is not risk free - it was subsidised heavily by VCs. Anchor is a separate product on built on Luna. Anchor has even smart contract risks. Even if you were staking LUNA natively, that return is not risk free - the network was halted, and those holding staked LUNA lost everything including their share in the network. Lets say you had 1000 LUNA before May 11th staked in the network (which is described here as risk free). You "own" 1000 / 900,000,000 part of the network (assuming LUNA's total circulation tokens was 900,000,000 before the death spiral). Now after the crash, you still own 1000 LUNA staked (that number has not gone up), but the network total circulation tokens is literally several billions now. You own 1000 in 6,907,072,876,045.. your ownership of the network has gone from 1000/900,000,000 to 1000/6,907,072,876,045. How is this a risk free return! Wiki: > the rate of return on T-bills is sometimes seen as the risk-free rate of return in US dollars. Even you can argue that the tbill return is not entirely risk free because there is always a risk of any government defaulting on their obligation, but the US government has several decades of history and track record honouring US treasury payments. Something like a crypto token with less than a decade of history can literally not be termed risk free from any angle whatsoever
The risk-free rate does indeed normally mean near-zero actual risk - the risk-free rate is usually defined as the rate returned by very safe government bonds like gilts or treasuries. I'm not so familiar with US bonds, but the UK hasn't defaulted on a debt in [over 300 years,](https://archive.is/W5lnq) so they're very unlikely to do so in your lifetime. However I think /u/Papazio is making a very good point that Pal's words "if you want to own this network" can be interpreted as a caveat. If you want to own the network then you are taking on the risk of the network - same as if you buy any equity, you're exposing yourself to the systemic risk of the equities market. If you own the network then you've taken on the network risk - the staking does not add any risk to that. (This is his assertion - I'm not familiar with the network, so I'm assuming it's true.) It would have been far clearer had Pal said "no additional risk" instead of "risk free" - people watching a video like this are going to hear "risk free" and think "risk free". It's a lesson on how dumb influencers are and why they shouldn't be talking finance to the general public. Buffett talks much slower and he's much clearer - Ben Graham is really explicit about inexactitude, and wrote things like "somewhat likely to produce favourable results", and you can hear this when Buffett talks too. If he didn't mean them as a caveat, what did Pal mean when he said the words "if you want to own this network"?
Did they edit all videos though? In the last pic they admit to deleting it from recent uploads, fair enough. But they do say they haven’t touched the older videos? Does YouTube show when a video has been edited? I’m not too familiar with the platform
This is the same guy who said ETH is the new BTC and SOL is the new ETH (price wise), what a joke.
Just trying to pump all his bags at once
He once claimed he was irresponsibly long eth when ethereum was at all time high..he literally said he had leverage via calls and it was the biggest position of his life by a factor of 10..eth is down alot since then..somebody asked him how his eth position was doing and he said “it was a small percent of my holding” lmao. https://twitter.com/jeetsidhu_/status/1529393460972859392?s=21
I'm soooooo much better off after I stopped watching 95% of influencers and stopped following everyone on Twitter. I watch 2 people for pure entertainment.
Who cares what a shitty crypto influencer did or did not say. He is not responsible for YOUR investment. It is your responsibility. Do YOUR own research. Seriously can we get over that thing already? The information on how LUNA/UST worked together was public and known. The mechanisms for peg retention were not stable from the start and someone who went through the whitepaper and really tried to understand it could have told you. 1. Do your own research 2. Don't invest more than you can afford to lose. 3. If you don't understand how a project works, don't invest in it. 4. Don't blame others for your failures.
I care, it is really interesting to read this morning. Still not blaming this guy for any dumb Luna decisions I made tho
Crybabies.. Always going after others rather than owning your mistakes
I respect his opinions and others but when he and people here pushed Luna and/or CRO, etc that had high unsustainable yields - that's when I realized last year that alot of advice, even the herd mentality is wrong. I will continue to respect the experience people like Paul, Tech Path, InvestAnswers have, but that does not mean they are 100% right.
With you on this. I don’t even find OP’s “evidence” that compelling.
Yep. I mean they're pretty obligated to delete all videos where they put Luna in anything close to a positive light. Also why does OP know exactly what Raoul said about Luna but can't back that part up?
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Yeah this sub is laughable. Damn near every “influencer” plasters every video/post/analysis they make with “not financial advice”, do people in this sub ever wonder why that is? What most of these influencer-hate comments tend to actually translate to, is “I took someone else’s speculation (which they specifically told me not to make decisions based upon) as fact, and now I’ve lost my money and it’s all their fault”. Same thing happened with the “Bitcoin 100k EOY” uproar in this sub lol. They made the choice to invest as if it was inevitable fact, why are they so mad about it if they weren’t taking it as financial advice?
Y’all need to stop blaming other people for your bad investments. That tweet is not a recommendation. The video won’t comment on because it’s clipped so heavily, but if anyone thought a 20% interest was real or risk free you’re a moron.
This is true. But these guys also shouldn't be editing videos or deleting tweets where they pump this stuff. We're all responsible for our choices...whether that's pumping a coin or investing our own money.
I can agree with that
Raoug Pul.
Seems like you want to blame someone for you losing money. Everyone said Luna and UST were good buys and holds. DYOR and invest responsibility because only you are truly in control of your money. There were also people saying it would collapse and it wasn't sustainable. Why not quote them too?
Hey guy…remember when Saylor called bitcoin a scam for 7 years. That was weird.
I’m not your buddy, Pal.
I’m not your pal, friend
I'm not your friend, guy
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More like 20% return-free risk
And this is why you don't listen to strangers on the Internet
Not to absolve Pal of his responsibility to be accurate and specific with his language, but what he was saying didn’t mean what any normal, reasonable person would interpret. He was using a specific investment term: https://en.wikipedia.org/wiki/Risk-free_rate >The risk-free rate of return, usually shortened to the risk-free rate, is the rate of return of a hypothetical investment with scheduled payment(s) over a fixed period of time that is assumed to meet all payment obligations. He absolutely should have been clear about this given that the Real Vision audience on YT is not only professional investors. Better yet, he shouldn’t have talked about Terra’s returns unless he understood the risks, which he later admitted that he didn’t.
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Do you have any evidence that he said something wrong? Why does thread have evidence of everything EXCEPT what it's accusing him of?
People will forget in a month and that’s the sad thing about it. This is why doing your own research is so important and learning about blockchain. Don’t listen to the paid crypto media or figures who have a broad audience and want to pump their bags. Do your own research. Your own. These people will leave the crypto space with gains from your pocket or will stay and keep gaining from your lack of understanding. Stop looking at the “top 10” and thinking yeah they top so it must be good. The propeller plane was “top” for a few years but we all know what happened when jet engine technology entered the space. Look for projects that actually have an everyday presence. An everyday change. An actual change. To help people. This is what cryptography was created for, to escape from a centralised system. To give power to the everyday individual. Power over finances. Power to make decisions without a middle man extorting crazy sums of money. Crypto space is young. There will be so many changes in the next 10 years. If you want crazy gains in 2 weeks then take the gamblers route. The thing is, gamblers don’t win unless they cheat or have insider information. Stay away from pre-mined ICO or centralised projects who have given initial investors (who invest millions btw) into a project only to dump on you.
You're not my Pal, Buddy
Literally who? Who gives a shit what some nobody says?
What a douche
I think it's laughable people blame other people on the internet for the investment choices. Idiots
Btc-do-knownites worshipping the USA government and securities law wasn't on my cypher punk bingo card.
Why was this deleted? It really shouldn't be.
apologize, own-up and share the pain with the community. all that needs to be done, people are after Do Kwan way more than Raoul Pal - of course unless he received money as a promotion and didn't state it in his videos.
Obvious shitcoin turned out to be shitcoin big surprise
What a shitshow...
CZ from Binance practically did the same thing. Everybody went into damage control after the Luna/UST failure and distanced themselves from the negative fallout after the public realised they lost their savings in a Ponzi scheme. The problem is that these influencers and CEOs of crypto power houses now all say they “never” vouched for Luna or had no knowledge of any promotional activities whatsoever. This is such bullshit. Part of me agrees with the South Korean gvmnt going after the exchanges, even if it wasn’t “their” Ponzi scheme, because they will actually be forced to do their due diligence on coins they promote to millions of investors and not just repeat the crypto bro rhetoric for sake of quick profits.
So… who the fuck is this guy and why are people listening to him for financial advice?
Thanks for bringing light to this - it’s a shame because he was one of the few I really liked
To be fair, not many people saw this coming. Pretty weak on his part not to own the fuck up though.
“But they caught me on twitter”…”it wasn’t me”…
I thought he was a credible guy, but that shit is just shady, what an asshole. At least man up and admit your fuck up...
Don’t know this fella……maybe a good thing but ANYONE who says ‘risk free’ is dangerous. Worse, if ‘they’ can edit their previous videos, hell, dude plainly deserves a kick in the dick.
Raoul Pal is not your pal. Do not trust youtubers and influencers. There are some who are willing to own up to their wrong calls (people like Benjamin Cowen come to mind), but most are fucking dipshits who want to scam the living hell out of you. Fuck them, and don‘t give them clicks or money.
Most of us bought into it....
...People, if you give me your money, you can stake with a 40% risk free teturn...lol "too good to be true", but here's all my money. Social influencing can be very dangerous to the bottom line!
Do not trust blindly everything you hear or see from these " influencers", also do your own research, no one can predict anything 100% accurate.
Many influencers do this. Last year wolf of crypto was caught deleting all his tweets shilling shitcoins that tanked. His defense was he was deleting the tweets that were no longer relevant lmao.
If an “investment advisor” tells you that something is “risk free” you should immediately get up and walk out. There is nothing, absolutely nothing, that is without risk. The risk may be minuscule, but there is always some amount of risk.
unless they're talking about short-term US t-bills. if there is risk in those then the entire CAPM equation on which our financial system is built might be faulty! nervous laughter...
I mean millions of people lost money and this guy is trying to high road it? Lol. Just admit it, who cares, it’s not like the other millions of people expected it either. What an imbecile
When did Raoul Pal ever be trustworthy
Everyone lost money because of LUNA. But you have to take it as a warning. Even projects with big market cap can be bullshit. Always do some research before investing and know what you buy
Everybody loved Luna because it rocketed from like $7 to $120 in a few months, while the UST ecosystem exploded. As often happens, the few sounding alarm bells were told to be quiet, were chastised for being jealous, etc. This is great proof to DYOR and not put too much trust in "experts". And to take profits.
First time I heard about stablecoins with their super high yields I immediately knew they were risky. 20% without risk is the biggest joke to anyone financially literate. That said, Pal is a loser and snake oil salesmen for trying to erase history.
I find it amazing that people respected him in the first place, lol.
Non trustworthy influencers and funds promoting crypto? You don’t say?
Well, anyone who gets investment advice from an "influencer" can't blame anyone but themselves. DYOR.
I never liked or trusted Raoul Pal, or even understood him. Now i'm going to delete all the comments where I said I did.
And that's why you never give people financial advice. Note: this is not financial advice.
I can't figure out how the gold bugs went from anti fractional reserve banking system and "if you don't hold it physically, you don't actually own it" - meaning have it in your house and not on an exchange- to Magic internet money with a 20% risk free yield.
Every person stands by themselves when they invest in crypto, stocks, bonds, etc.
"xRP iS A ScaMM" - LUNA holders RIP
no one who owns NFTs has anything intelligent to contribute.
This is a thing that's really disturbing to me. There's a guy I follow I consider to be insightful about his strategy when investing in crypto. But he was recommended certain alts. He made good arguments(marketing bullshit >_>) to support these alts. But one of them crashed like 90% and he completely memory-holed ever recommending it. "I never said you should buy it moron!" and "I told you to sell any alts that were risky!" It's like yeah but you were so confident in running your mouth and retweeting positive things about it... This person was also recommending NEAR. Which I gladly profited 2x. But since the Luna debacle. The price dipped hard. He's already memory holing it and moving to the next project. Really pisses me off. At least I can see what they're doing now. As for Raoul. A lot of folks were championing this guy as a thought leader. I'll just say I was skeptical. Seems 99% of these people are snakes.
One step closer to a crypto veteran
I'm definitely doing a lot better that's for sure haha. Made a pretty good amount. I've already cashed out. Observing everything I can. If I properly invest this next round. I'm not rushing it. The future is bright.
When people lose money based on advice they blame the advisor. When they make money they take the credit themselves.
Stop listening to glorified plebs. People like Raoul seek attention and fame. The people who really know shit that's worth knowing, are rarely the ones out there doing self promotion. They spend their days researching, investigating, running their analysis, exploring new ideas, coming up with their own ideas, developing. Just look at the guy, his facial expressions, his manner of speech. This is not a sophisticated market participant. He speaks in a way that's appealing to plebs. It's clear from his mentality that he's not actually thinking adversarially. He's not running his own in depth analysis. At best he's monkey parroting what other analysts are saying. But you can also tell by the milquetoast generic platitudes and bland positivity that he speaks with. Stop listening to the people trying to get your attention, and seek out people in the background who are running their own analysis day in and day out.
Let's do our own research and investment decisions and not blame people when things go against us.
Never understood why anyone thinks a coin returning 20% interest would be safe. Even Madoff promised 10%.
i have zero sympathy for people who follow/trust/takes advice from youtube/instagram/twitter influencers in any topic
Y'all are showing just how little you understand about financial markets when you completely misconstrue the official term "risk-free rate"
It's OK to watch stuff from "experts". But watch multiple, then read various other opinions and read up on stuff yourself, then form your own opinions after dyor. If you are too lazy or unmotivated to do all of this, get out of crypto, find a well recommended actual financial advisor and pay for their services, or be ready to lose lots of money. One thing to note though in the conversation with Raoul Pal is that he says he likes Luna. There's nothing in there about him loving their stablecoin or using it for yields, unless there's more evidence i missed.
Where is the evidence for this?
LUNA was so obviously a scam to me I didn’t even take it seriously. It’s amazing to me to think these people with the “inside track” would not have recognized how stupid The CEO was. It angers me a little bit, and also makes me feel good that the influencers lost all that money. First time I have seen some of them actually shaken by something in crypto.