I m not sure if people watched thoses crypto videos before commenting itt.
It was 80% making fun of scammers and 20% making fun of himself.

Really? That doesn't leave any % for the videos he made hyping crypto and saying it will recover, like in this video:



Transcript starting from 2:20 in the above video:

I want everyone to remember moments like this. That after the storm goes through, when a serious correction or crash or dip or whatever you want to call it happens, that there is always light at the end of the tunnel and even though we're nowhere near back to where we were before the whole thing kinda started to come down over the last month or so, we're still on that road back to where we were before. And in the end it's all about long-term prosperity and don't sweat the day-to-day swings.

That was about 50% ago. I guess Doug forgot to tell them the light at the end of the tunnel was a train.

Doug calls it a storm, you call it a train.

It was 50% ago as far as Bitcoin is concerned. For Ethereum, it was 85% ago! ETH was trading at $828.97 in that video (after having already fallen from $1372.99 on January 15th) and is now at $128.68.

That's roughly 85% down from when Doug made that video and a whopping 90.6% fall from it's high in January.

That said, I believe you guys are being too rough on Doug. He's never hidden the fact that he's a novice when it comes to crypto and that he's just giving his personal opinion on alt coins, and not financial advice. I find most of his crypto videos to be very entertaining and self-deprecating. But then again, I'm not an investor (or more accurately, a speculator) in cryptocurrencies.

Someone gives investment advice that turns out to be wrong, stop the presses.

If you think anyone is able to 100% be certain about any market then you're a fool. It's fine to listen to analysts, whether or not Doug is one I don't follow his channel and I hate crypto and think it's a meme, but you should always understand they're just giving their opinions about how they believe the market will trend.

You hate crypto yet you play poker??? WTF!!!???

lol wat

I hate crypto too and I've played poker for a living for a decade+. It's just an idiotic bubble that's already popped and most anybody not already deep within crypto sees that.

But really, I don't even see how the two subjects are related, outside of some sites using crypto for deposits/withdrawals ...

When there is blood in the streets, buy, ..... even if the blood is your own.

https://www.investopedia.com/article...-investing.asp

I think your post is a joke but I'll clarify anyway.

Crypto is a middleman for anonymous internet transactions, generally for drug deals, that ended up rocketing in value solely due to speculation. Buy gift card or use e-wallet, trade for crypto, send crypto to dealer, dealer buys a clean gift card that can be sold again. Not only is it not backed by anything like many modern currencies, but it doesn't even have a government with an interest in preventing hyperinflation. It also isn't particularly convenient to use.

You may as well invest in tulips. It's a huge bubble just waiting to burst and if enough investors decide it's too volatile to put a significant amount of money into in case of lightning striking twice, which is very plausible, it will never recover.

"Picking" stocks on the stock market is essentially gambling now, there are very few traders in the world that can consistently beat the index. You can, however, generally be pretty confident that over 30 years the stock market will be higher than where it was at year 0 similarly to how you can be pretty confident you will show a profit if you play a winning strategy of poker over 10m hands. With crypto you do not have that high probability of security and it is quite literally gambling.

Gambling can be fine, we have plenty of degenerates here, but lets call a spade a spade. Buying crypto is no different than picking individual stocks or a small portfolio you're hoping to include the next Apple. Crypto also has its place, it is actually useful for certain internet transactions that you would prefer to be anonymous, but it's value is extremely inflated and likely unsustainable. Then again I'm not qualified to give investment advice either because it's nearlyh impossible to predict markets aside from having a reasonably high certainty that major indexes will continue to rise over a long period of time. Just speculation and relatively educated guesses are the best you can do and there are very few people in the world who speculate accurately enough to beat traditional markets, let alone something as volatile as crypto.

It's one thing to have an informed opinion about the market and just be wrong. Quite another to base that opinion on nothing other than the hope for it to be true. Doug didn't even venture to give a reason why he thought crypto would recover other than the fact it has recovered in the past.

Also in one of Doug’s videos he said he was holding on, not dumping any shares, in for the long run, then in one of his last posts, said he was selling off as it was going up lol

Where sryslyars these days , he was the main hype machine for crypto ,

But they mean by it when run is over, bitcoin is still falling. First advice to beginners is: don't go against trend.

http://www.learntotradethemarket.com...y-your-account

That's the exact same problem as with communism: It didn't worked because of people being people, otherwise great projects.

I post a lot less these days because people like you get angry that I dare to have opinions about things lol

Even so why are people taking his word as gospel, especially for something like investment advice? Even if it's just a "gut instinct" that he can't explain, as long as he isn't giving false evidence or anything it seems fine to me. Do you think his viewers wouldn't be curious what he's doing and just start asking him until he ends up tweeting or making a video about it?

It isn't even like he's in a position of authority and taking advantage of people to get investments in a pyramid scheme, he's a guy making videos about a hobby investment and from what I can tell is pretty honest about it even if I think he's wrong.

That means the people that invested blindly on Doug's words are truly stupid and should have nobody else to blame but themselves.

"Oh look, someone gives me his opinion on ****** YOUTUBE and gives no explanation for it, let me invest more money"

Jezus christ

Kelvis,

I don’t think anybody is denying what your saying, most the ppl who follow this thread or watch the videos understand he’s just having fun making videos , trying to build a viewerbase etc...

But there will also be some viewers that look at Doug and think he became #1 heads up player in the world went on to ship some of the biggest tournies in the world and when started making these crypto videos , made a fortune from crypto , look up to him and truely believe anything he says, even if it’s a small % , hyping up crypto(which will probably turn out to be scam) was by many of us a bad idea esp the fact he knew little about how stocks markets and crypto work, does he even have any education ?

Yes anybody can make YouTube videos about anything....I get it but it doesn’t necessarily mke it right or ethical

How about people who didn't invest blindly but still used Doug's words to weight their decision? Why does it have to be a binary construct?

I'm not sure what you expect from Doug. It's the classic argument from authority (or perceived authority) and I care less what happens to people that act on it. If something that isn't backed up had weight in someones decision then that is on them.

I know most people act like sheep and are looking for someone to tell them what to do and not question it, so if that happened to some people then I don't care. Take some responsibility for your own actions.

He has high morals and strong opinions on actions of many people what they represant and mean and usually why they are bad, and then when he does something like this he finds million excuses but ok its a presonality trait.

So lets go, is it ethical and moral to talk about with strong opinion knowing you have a lot of followers and knowing they will listen on something about which you have no clue. NO ITS NOT. Its wrong, and there is no justification by saying i warned them. Plain and simple, no excuses, he can now find ways to spin it but its quit simple, he did something which is not ethical or moral to make money, which lets face it a lot of people do, and how this world functions.

And if he says i dont make a lot of money from youtube, that is not a defens it just means you are willing to do non ethical things for small rewards. Which is kind of even worse. He got there full guns blazing, sites, shirts, funny videos and everything, but ok.

fyp

Yes, people are responsible for their own actions. And Doug is responsible for his. The difference is his actions affected lots of people in a very negative way.

Just to add something, im not a fanboy or anything of anybody and i do feel im entitled to my opinion in this matter and some others.

But i do like his poker videos and i do think he does a lot for poker in promoting the game, but if we go high on moral grounds that could also be unethical , maybe less as he stopped playing and we all benefit from it for example. So im now not so sure im right in critique of his crypto videos. But its complex, moral and ethics are complex subject, and we are all as humans divided and not always moral or ethical so who am i really to say that. Eh tuff subject you guys started, its just not so easy to live morally , its damn hard task and we are all in the wrong. Is poker ethical , i struggle with that really, its not laughing, i do struggle with that question. I took 1,200$ from a guy that i know is degenerate gambler, its wrong, its wrong to live like that i know its wrong, i can give 1000 excuses but i know deep in my heart its wrong. I just know.

Gambling and taking money exploiting people is bad, it does not add new value in the world it amounts to nothing. So some can say, i can do better things with that money than a degenerate, well maybe it could have some merit, but do i do it, no i use it for more sinful things . So my first comment is balming someone for something i do every day, so im also a hypocrite , i can only argue Doug destroyed many more degenerates and futures than me, in crypto and in poker.

I would just like now that we all repent and take a moment to think about are sinful behaviour and sinful lifes spent destroying people, God only knows how many we the poker community drove to suicide.

U missed the point bro , this has nothing To do with anyone taking 1200 off a degen poker player

It’s the fact he’s hyping a scam, on a viewerbase that trusts him bc he was a well regarded top poker player , and on top he knows very little about the topic and most he does know is straight up wrong

I feel awesome about playing poker. You should too. Every sport has allstars that make more money the rest, businesses that make other businesses go broke because they are better at what they do etc. You are not responsible for another person's decisions bro. You're giving yourself a bloated amount of responsibility. U b u. They b they.

Scam? You know how most poker players first got to know Bitcoin/Crypto?
It's practical usability - easy safe fast ultracheap anonymous international money transfers.
It doesn't matter if it's 20k or 1k it still works. Even better now, many people speculated that the massive volume spikes and price increase was actually an attack on Bitcoin to drive up transfer fees. The thing long term speculators like Doug are betting on is that it's adoption rate will skyrocket and get wider naturally as the world changes and gets more globalised...IN THE LONG RUN we're talking years into the future.

A big chunk of the altcoins are straight up scams, or illegal securities that aren't decentralised at all actually, but to say BTC and everything else in the space is a scam is just not true