"Not backed by anything" - Is the best evidence he is so oldschool, that he would try to insert coins into a smartphone. People like him only understand material goods. He doesn't understand things that are backed by technology, algorithms and chances to restructure the whole world because they provide direct social and financial interaction.
But once you have made yourself a name you become some kind of oracle to people who just listen and never validate. That's the reason why some people improve and gain while others miss the train and blame.