Andy Hoffman Gives Up on Gold...
For many years, "Ranting" Andy Hoffman was a popular B-level player in the Precious Metals space. Not as popular as Peter Schiff or Jim Rickards, but he was everywhere in the alt media spreading the truth about monetary abuse.
However, after selling off all of his Silver this past fall, earlier this week "Ranting" Andy Hoffman said he sold off the last of his Gold!?! Specifically, the last 5% he was holding onto. And...he went all-in on Bitcoin. Not the crypto space in general, just Bitcoin. Really Andy, after 15 years in the precious metals space, thats your new financial advice...
Seriously though, I can understand why you would sell off that last 5% of your Gold and just go full retard into Bitcoin because you know with 100% certainty it will be adopted by everyone even though there's 1,500 competitors, its not really as decentralized as it once was, its slow as shit and super expensive.
https://www.cryptogoldcentral.com <--- Your going to have to change that...just saying
No matter how much I like crypto. Selling all of anything and going 100 percent into something is a rookie mistake. Diversification is key. Gold silver and crypto make a great combination but just one of any of them is not to bright.
Being 100% all in at 25 is different then when you are 45. Gamble big young...gamble responsibly when you are older. I went broke in my 20s several times and it was easy to bounce back. It would be much harder for me now. (I consider investing in a Poker Game, Stocks, Bonds, Gold and cryptos all forms of gambling...they all involve risk assessment and upside potential.)
Andy who?
exactly...
@matthewwarn I like Andy and if he is going to go all in I am sure he will do just fine. In fact I think we will all do just fine in Crypto's. @jerrybanfield is All IN on STEEM I think he has made a good choice too. I remember about 10 years ago when I had a strong conviction about a stock I went All IN when I had a 401K and it did extremely well. Sometimes in Life you have to go a little bit against the grain to WIN Really BIG !!
Don't get me wrong, I like Andy, but his move reeks of desperation as nobody knows the future of Bitcoin or which cryptos are going to come out on top. The great part about asymmetric upside opportunities is that you don't have to go All-in to win big and doing so is greedy and a fools game. If you set yourself up for a knock-out punch enough times, no matter how great the investment, eventually you get knocked out. The difference between Andy and Jerry is about 20 years. Taking extreme calculated risk in your 20s is a great move and I'll encourage my kids to do just that. When they are in their 40s and 50s, I will be giving them different advice if I'm still around. I've spent the better part of 20 years gambling and taking calculate risks and the Kelly Criterium can never be beaten. I've watched more guys than I can count turn a few thousand into a million and go broke again in 2 months.
As for Jerry's 100% All-In on Steem, I'd be concerned about he new Social Media platform Dan has already mentioned he is building for EOS.
Where’s the other 95%?
Mo-fucker is gonna’ do just fine in btc, but selling out the last of your gold is amateur hour!
He is 100% in Bitcoin. Being 100% into any investment when you are married with a couple kids and on the wrong side of 40 is greedy or desperate or both.
Andy Hoffman, what a joke this guy is.
I've listened to a lot of his interviews, and I honestly can't say I've learned anything of value. I stopped listening to him completely when the real Andy Hoffman came out when he was being interviewed by SGTreport a year ago.
I couldn't believe it, he was viciously insulting Lynette Zang, calling her an idiot and a nobody, going on about how he was a big shot and people respect him, that his position was right and she was a moron. It was disgusting really. I don't care one way or the other about Lynette, but it was eye opening. Not to mention he offered nothing of substance in his argument, it was all just his massive EGO. It's no wonder he got fired from Miles Franklin.
You cannot make money on EGO (well maybe if you're a media personality). I LOST all respect for him after that interview.
Do yourself a favor and don't listen to anything he says. He's a mediocre analyst, that's only truly good at losing money, being an asshole, and making bad decisions.
I listened to that interview you are referencing a few months ago. He was an asshole towards her and if he was willing to say things like that in a public forum, I can only imagine what he says in private at work. I'm sure those kinds of behaviors contributed to his leaving/being fired from Miles-Franklin. I can't help but hear desperation in his voice. He also came out hard against Bitcoin Cash and Litecoin, both of which stick closer to Satoshi's vision for Bitcoin as a peer to peer payment system, so I'm not sure he even knows what he's talking about anymore.
Lol. Well hopefully he didn't jump in at 20k
He's been in it for at least a year, so I'm sure he's doing fine...but he hates AltCoins and they pummeled Bitcoin last year and I feel they will do the same this year.