11/20/2023 0 Comments Agora financial bitcoin blueprint![]() He puts us at ease by ensuring he won’t get too technical. He does not seem concerned about the tech industry’s gender disparity or how such comments may perpetuate it. Bitcoin is usually owned by men,” he says, which isn’t true of the bitcoin community, much less of the hands in the air in front of him. “So, you’re the only woman in this place who owns a bitcoin. Why not start with a little crowd work? Who here owns bitcoin? Hands fly up, but not every hand, and Altucher zooms in on a woman named Beverly. Anything that gets more people involved is a net positive.Īltucher keeps things loose in his opening arguments. They don’t even care about the silly stuff like CryptoKitties or Dogecoin, or the ridiculousness of two stock-tip newsletter writers pimping investment ideas in boxing robes. The social movement is so strong that true believers don’t mind the influx of greed-driven mercenaries in the sector. Getting into crypto shows you support a set of ideals: decentralization, anti-institution, revolution. Bitcoin is now a lifestyle brand and personal identity choice in the same way a Prius signifies environmental awareness or a New Yorker tote shows you’re an aspiring member of the intelligentsia. And they’ve bought into bitcoin, even if they don’t actually own that much of it. They’re libertarians, even if they don’t use Reddit. They’re also investment geeks, even if they don’t work in finance. The fans consider themselves technophiles, even if they don’t work in tech. The few attendees I meet are either curious lookie-loos trying to learn about bitcoin or fans of one or both Jameses. One of them begins taking notes after Altucher name-checks Zcash and Monero, two cryptocurrencies that are well-known among enthusiasts. Are these (likely) bankers here because they hate the institutions that they (likely) work for? Perhaps they’re just hoping for a hot crypto investment tip. But I see no hoodies, no signs of stereotypical bitcoin bros. There are a few shady-looking characters in the back (ahem, neck-tattoo guy). I notice most audience members are sporting an off-duty banker look: Blue-checked button-downs, fleece vests, expensive haircuts, and shiny dress shoes. James Altucher and James Rickards on stage at Stand Up NY with moderator Cheryl Casone, a Fox Business Network anchor. And no one knows this better than James Altucher. (Tonight, it’s just a room full of New Yorkers, but online the supply of suckers is infinite.) Anything in the world can be twisted into a get-rich-quick scheme with the right buzzwords, charisma, and $2,000 newsletter subscriptions. The debate topic-Which is a better investment, gold or bitcoin?-is mostly a farce, since both present opportunities for people eager to make a quick buck. (Altucher and Agora Financial CEO Doug Hill have disputed these complaints.) Tonight he’s introduced as “the bitcoin baron,” “Mr. Never mind the complaints from some customers that the newsletters and research papers he hawks via publishing company Agora Financial offer obvious information that’s otherwise freely available online. ![]() Never mind criticisms that he directs his followers to invest in risky small-cap stocks and cryptocurrencies, leading to a temporary bump in their prices followed by a sell-off. Altucher, according to the ads, is the “crypto-genius” who will unveil the next bitcoin. His pale face, framed by crooked, rimless glasses and topped by a fluffy mop of curls, is instantly recognizable from the banner ads that have stalked me around the web for the last couple of months. I’m in the crowd to watch Altucher, a self-help guru, author, and podcaster, participate in a debate. I worked with Jim Rogers a long time, he hates it-but, but, what you have to ask is, not these little trading things, but what is going on? Why does bitcoin even exist? Why do cryptocurrencies even exist?” he tells a crowd of around 60 people crammed into a comedy club on New York's Upper West Side 1. “More than trading, more than charts, more than, like, investing-I run a hedge fund, I’ve been a day trader, I run a bunch of hedge funds, I’ve seen every trade in the book, I’ve written the book! It’s called Trade Like a Hedge Fund. The investment opportunity is bigger than you think, and trust him, he knows. ![]() There’s 10,000 man-years of science behind it. Two hundred trillion dollars of potential demand, even more if you throw in contract law. James Altucher would like to remind us of the math behind cryptocurrency: Two hundred billion dollars in supply.
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