For those of you that are new to Crypto Fireside, this is our third review in a series we have been doing on crypto YouTubers. At first, we sat down with Drew Vosk from the popular VoskCoin crypto mining channel, and in our second we looked at a dodgy channel called Crypto Kirby.
Let's not waste any time and just get stuck straight into this review!
Blockchain Backer Crypto YouTuber Review
First, some quick stats:
Blockchain Backer, which we will occasionally refer to as BCB throughout this review, is a YouTube channel that started in November 2019, it has 254K subscribers and has amassed 30.7 million views.
The most popular video has 278k views.
Blockchain Backer's first video that he published was on November 9, 2019, and titled "Ripple and Why XRP could ERRUPT to be the Best Digital Asset to Invest In".
BCB has a large following on Twitter with 259.5K Followers, where he appears to post daily market updates and links to his videos.
Who Is Blockchain Backer?
I think it's important to know who is behind the financial content that you consume. I always advise that if the person is anonymous, take what they say with a pinch of salt. It doesn't necessarily mean that they are out to scam you or run away with your money or tell you to invest in some Ponzi scheme, but it is good to be cautious when dealing with anons that are giving price predictions as a general rule of thumb.
Regarding the infamous Blockchain Backer, I have not been able to find a name for the husky-voiced crypto-YouTuber but did end up finding some interesting information. Here is what I have been able to find out so far.
BCB is North American and his YouTube bio says he is located in the United States. I'm no expert on accents but it sounds to me like he might have a southern twang to his voice.
The quote below is taken directly from BCB's YouTube about page;
Hey! This is the Blockchain Backer! Bringing you the latest cryptocurrency news and analysis! This is a daily video channel dedicated to cryptocurrency market coverage, including Bitcoin, XRP, the Altcoin Market, and much more! Whether you are here for the latest news or looking for technical analysis on the price charts today, my channel is designed to keep you up to date on what is going on now!
And this is taken from BCB's Twitter bio.
BCBacker.com | YouTube | Chart Educating | XRP Enthusiast | 9+ Years Sober | God Saves | Accomplish Anything You Set Your Mind To | Not Financial Advice
As you can see, BCB does not give us any personal info, so we're left kind of scratching our heads as to who he is, where he's from, what he knows, and why we should or shouldn't listen to him. At this stage anyway...
As stated above, I'm not a big fan of dedicating time to crypto analysts or talking heads unless they are going to tell me who they are. That's just me and my own personal opinion. I'm not saying that I won't listen, I just think if you're gonna make a channel or produce content and you want people to listen to you, tell them who you are so that you can establish some trust. Especially in an industry filled with scammers!
Other than that, we know from his videos and his community comments that he has a family and his Twitter bio tells us he is a religious man, likely a Christian and that he is now sober (9 years or something, poor dude, glug-glug, just kidding), which probably means at one stage he had problems with drugs and or alcohol. Not that any of that matters but when you don't have much else to go on, like a name and real-life bio, this stuff rises to the surface.
One good piece of info we have on BCB and his past is given to us via his Teachable course page. BCB tells us on this page that he has spent years analyzing charts:
Over the last several years, I have spent thousands of hours deep diving into the cryptocurrency market cycles by analyzing charts.
The absolute best piece of information that we have on BCB is from a podcast he did with Tony Edward from the Thinking Crypto News & Interviews podcast.
You can watch the interview below on YouTube or listen to it via your favorite podcast app. Links can be found here on Tony's site.
The interview was published in February of this year (2022), and from it, we learn how BCB got into crypto as he gives us a bit of an origin story in the first half of the podcast.
We learn the following (you'll have to watch the video).
- BCB doesn't trade stocks.
- Prior to crypto, he had a passive income business.
- He was introduced to crypto through mastermind groups and his brother-in-law.
- The first cryptos he purchased were Litecoin and Bitcoin.
- He was a believer in Gold and Silver prior to Bitcoin and Crypto.
- He understood the financial system was flawed.
- BCB loves mathematics and has already been doing a lot of forecasting for his own business.
- BCB never took courses or read books on the topics of trading and analysis and is instead self-taught.
- His favorite food or the food he'd eat forever if he had to is Mac N Cheese.
Now that we have that out the way. We still don't know who he is, but at least he's willing to do interviews and let us know a little bit about his background.
Review of Blockchain Backer's Content
BCB Loves to Shill XRP
It's clear BCB is a fan of the dirty and disgusting bankers' coin XRP. Yuck, sorry, personal opinion and joke time! It is what it is, and it's not for me to say what he can make his videos about but I share can say what I think about it! XRP, eww gross!
BCB is a huge fan of XRP because he says that he understands deeply how the international SWIFT banking system works and how it is flawed and needs to be fixed because he's been in business and has operated with overseas suppliers regularly for some years. This is the reason, he says, why XRP will surge because they can offer a solution that solves the SWIFT systems problems. Interesting. Not really believable, but interesting nonetheless.
BCB has been talking about XRP since the very inception of his channel. In fact, his second video was titled "Easy To Understand Explanation How the XRP Price WILL SURGE with Ripple Going After SWIFT payments".
My issue with the XRP component of BCB's content, which he has a lot of, apart from the fact that I hate XRP and think it is a dirty, pre-mined, banker and globalist coin that goes against the Crypto Ethos...is that BCB for all his strengths, doesn't comprehend (or doesn't want to) that you don't need SWIFT, you don't need Banks, you don't any third parties, governments or regulators. We already have everything we need! That's the whole point! It's in the very name of his YouTube channel! The Blockchain Backer!!!
Kind of infuriating, to be honest.
The blockchain and other distributed systems already allow us to send and receive payments internationally. I do it all the time! We all do it all the time! And if you use crypto yourself, you'll know how easy it is to send someone money in the form of crypto. This is why Satoshi and a thousand other developers have released crypto solutions to the world!
Depending on the currency used, you can send and receive funds in a matter of seconds and the fees can be as little as a couple of cents or even as low as a fraction of a cent!
I wonder, has BCB tried to convince his suppliers overseas to use crypto? No SWIFT and no banker-connected XRP are required. Amazing! It's almost like crypto IS the solution!
Apart from these infuriating mental gymnastics about XRP SWIFT solutions, BCB kind of goes against his own personal views that he talks about in his video interview with Tony Edward.
Most people that say they are into gold or silver or that they understand the issues with our banking and financial systems can usually be described as being libertarians or at least promoters of sound money which is how BCB comes across.
But then he promotes and pushes XRP which is the exact opposite in my opinion of sound money! Therefore I think he contradicts himself massively.
XRP is controlled by Ripple labs which are essentially trying to set up partnerships with all of the major world banking corporations and are already partnered with the World Economic Forum, you know, the people that say you will own nothing, but that you will be happy.
Of course, anyone that has been involved in crypto for more than a day or two knows the history and litigation that Ripple has been involved in which I won't go into here other than to say that it's never a good idea to print money...which is of course, what bankers do, and allegedly, Ripple too. How convenient.
Besides all of these criticisms around XRP, the long-term analysis by Blockchain Backer is wrong. In the video above BCB claims the price will surge. Well, we have the benefit of being able to time travel into the past and we know that the price of XRP was $0.25 at the time of the video and it's now sitting at $0.35.
That's not really a surge, is it?
The price did hit a high of $1.79 in June of 2021, quickly corrected, shot up again, and has settled back down to where XRP usually sits...which is between 20 and 30 cents.
In this video that is titled "SOLVED: $589 XRP Price Prediction by BearableGuy123 Using Technical Analysis" BCB does a review on a potential $589 future price for XRP and says that it's technically possible using fractals and Fibonacci analysis, although he doesn't sound convinced and that is because this is just clickbait.
You'll see this come up often when BCB talks about XRP. Clickbait, hype, and general shilling.
Conclusion on XRP Content
You can see that the Blockchain Backer enjoys shilling XRP in his video campaigns and he also loves to use clickbait-style titles and thumbnail images that indicate a potentially high dollar value for XRP which is of course always wrong always has been wrong and always will be wrong because XRP is a vampire coin that no legitimate person in the crypto space wants anything to do with.
XRP has never met any of the clickbait titles and thumbnail US dollar predictions or targets that BCB has used, but in all fairness, he doesn't say that these will be met, instead, he uses careful language and talks around the real-world price predictions and values which is a strategy that he commonly uses to likely protect himself.
You will notice that he frequently brings up price charts, zooms into crazy prices, and says things like "you see here, mmm, hmmm, oooh, ahhh" of course I am paraphrasing and being tongue in cheek, but yes, he does in fact do some variation of this.
Below is an example of clickbait thumbnails. None of which have ever even come close to reality.
BCB does sometimes get his short-term price predictions correct because for obvious reasons, it's much easier to do so and be correct when you have a coin that only moves a few cents each way, up or down, each month. That's like predicting heads or tails on a coin flip, you're gonna get it correct approximately 50% of the time in the long run if you stick to a really solid strategy like saying "HEADS" every single time!
In my view, BCB is totally just shilling for XRP because he likely owns a bunch of it and so he needs to pump it in order to inflate his bags so that he can eventually sell off to the next smart XRP shiller. I can't prove that, but it would take a really unintelligent person not to see this. Most of his content is related to XRP and in the videos, he often uses terms like "surge" and "blast off" when discussing XRP, he uses clickbaity and hypey video thumbnails and he makes wild incomprehensible predictions.
All SHILL behavior.
In this recent video, the Blockchain Backer says he doesn't think XRP is going any lower and he thumbnails his video with the words "XRP BOTTOM ... FULLY COMPLETED CORRECTION ... NEXT PHASE UP".
The video was published on the 18th of August 2022, and literally a day after he made the video, this is what actually happened:
The price went from 37 cents to a low of 31 cents and has since been sitting at 35 cents. There is nothing else you really need to know.
Blockchain Backer Video Analysis About non-XRP Coins?
When BCB sticks to more general content and doesn't use emotional XRP hyperbole or doesn't try to call bottoms, and tops or make wild and unsubstantiated predictions, I find the videos somewhat appealing.
Obviously, those types of videos are a helluva lot more boring but I just cringe when I see these YouTubers making prediction after prediction and continuing to get it wrong as they almost always do in a bear market, and the opposite is true in a bull market where they seemingly can predict certain coins will rise, because that is what happens in a bull market, no fettuccini crystal ball needed!
Here is an example of the type of video that I am talking about that seems a lot more genuine:
In the video above, the Blockchain Backer doesn't shill or hype coins, he doesn't really make too many silly predictions, and he mostly just sticks to the news and analysis of what has already happened in the crypto market. Boring, but somewhat refreshing.
If BCB stuck to doing videos like these (above), I'd be a fan. But I tend to think he will continue doing silly price prediction videos that he will continue to get wrong like the recent one he did here where he said on the 4th of August 2022 that he was "70% confident" Bitcoin had hit its bottom...only for it to dump from 22k down to 18k.
Here is what really happened.
I'm not going to go through every single one if his videos and pull them apart because you can just watch them yourself. But I did think I should do a video on this channel and review some of the content because there are so many young, inexperienced, and just general newbie types out there that will listen to a guy like Blockchain Backer and assume he knows what he is talking when frankly, he knows as much as the next guy that "studied" crypto and trading by watching YouTube videos, which is not much when all things are considered.
The Blockchain Backer is likable, he makes good quality videos, and he clearly has some understanding of the markets and knows how to technically analyze the markets to a level. I repeat, to a level.
Personally, I would not take any of his advice, I would not pay for any of his courses, and I certainly would never listen to any of his ideas or advice on XRP, because apart from it being useless, pre-mined crud, we know he is incentivized to shill it because he owns it.
This review might come across as negative, I prefer to call it honest, however, if BCB sticks to creating fun content around news and historical analysis instead of cringe-inducing price predictions about coins that he owns, he might find himself a few new fans!
Want to Keep Reading?
- Joe Rogan NFT (Everything You NEED To Know)
- How Does OpenSea Make Money? (This Will SURPRISE You)
- NFT Companies | The Most Ultimate List Ever
- GameStop NFT Marketplace Review
- Elon Musk Bitcoin Dogecoin (A Timeline of Very CHAOTIC Events)
Want to know how you can support Crypto Fireside?
Sign up below. It's free, it's easy, and it allows you to comment and join the discussion 🔥