James Altucher is renowned for many things and in the context of frenzied activity in the cryptocurrency space, his name is synonymous with the paid newsletters that he sells to avid netizens who are keen on learning the ways to claim a share of the crypto pie. You can see those skillfully crafted newsletters nearly everywhere in the digital world where cryptocurrency is discussed. James Altucher is also gifted with the skill of creating flamboyant graphics that the devotees of the cryptoworld and the media insiders align with quickly enough. Mashable for instance calls James Altucher the “the face of the bitcoin bubble” Yahoo Finance on the other hand opines that Altucher has thrown a whole infomercial playbook into the ring.
James Altucher has an unabashed disposition and abashment seemingly is not a slice of his repertoire. He holds the view that the ads traverse the digital space because people are looking to educate themselves on cryptocurrencies. He opines further that when every page shows several thousand ads the need to stand out is abject, particularly in an economy that is attention-glutted.
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The newsletter business of Altucher is operated by Agora Financial who are known for creating high-impact ads though their reputation with regard to accuracy is questionable. For James Altucher however, cryptocurrency acts as a natural pivot and for long he has excelled in garnering attention.
Rags to riches, riches to rags and again to riches
While this may sound pretty strange, this is what has happened to James Altucher in his personal life. At the height of his life accomplishments he started off with frugal possessions after divorcing his wife and selling his house. On his own admission he blew up several million dollars on trips, bad ideas and expensive toys resulting in his bank account plummeting from $15 million to a mere $143 in just a few months. Presently, success focused self help is the bread and butter for James Atucher and he has authored 14 books as well as a podcast. Like others who have tasted success with online businesses, Altucher excels at pumping up people. When you look at people of his type, beyond the apparent, a common thread that runs between them is that the commonsense ideas they present contain unique insights that bring success.
Being bold, working hard, and never reckoning the element of luck or survivorship bias are among his success mantras. Similarly, James Altucher is gifted with the knack of injecting the feel of hotshots in wantrepreneurs and boosting their confidence to a level that they find themselves all set to conquer the world, and he skillfully portrays his own failures to add conviction. “ I want to die” was a very common search term that helped visitors find his blog. The newsletters from Altucher sell in a range of $999 to $2,000 a year and the most expensive among them is the Crypto Trader. Interestingly, the link to subscribe to that news letter will appear only after you have watched a pretty long sales video.
Chance to create a retirement fund with a $100 bill
Altucher also holds that his newsletters are a measure of service to help him capitalize on the current cryptocurrency craze. He further points out that his entire philosophy on bitcoin is dealt with in-depth, in his blog that is freely accessible. In his blog, he further claims that he is aware of the real identity of the bitcoin creator and reads his blog every single day. He adds that he took to advising on cryptocurrency investing since he noticed that people were going after anything that they were told without understanding if it was a scam or not. In a pretty lengthy sales page for ‘The Altucher Report’ Altucher admonishes people who don’t subscribe to his publications and states that they could be cheating themselves of a singular chance that they might EVER have in turning a $100 bill into a retirement fund in just a few months. He adds further that a 1000% gain from cryptocurrencies is only a conservative estimate. In essence, he emphasizes the importance of picking the right ones from the midst of so many scams and that it is tough when it comes to timing the market.
Sound advice needed to stay safe from scams
While there are many critics to Atucher’s take on cryptocurrencies and his publications, he emphasizes that there is a potential behind cryptocurrencies that are presently cheap and could be the equivalent of penny stocks in the digital world. He holds the view that cryptocurrencies is a significantly technology driven space and the common man needs someone who is technically savvy to help him wade through the maze. Altucher’s programming background comes in handy decrypting the codes and he claims to be an ‘angel investor’ all over the cryptospace.
There is no evidence on how much James Altucher made from cryptocurrencies, particularly given the recent high octane volatility in the markets considering his positioning as a ‘know all’ of the cryptomarkets.
Rising after a steep fall
It is not often that an individual rises to the top in a chosen profession or business and then comes crashing down to where he/she started. But, it does happen in some instances and what is important is the ability to claw back and scale even greater heights than the peaks that betrayed the individual once. When you start climbing the ladder initially, you have the energy, ambition, and a clear focus to supplement the innate knowledge and wherewithal to support the mission. But after a fall, you are bruised, your physical and financial strength has possibly taken leave of you and you find yourself in a position where all that ambition, energy and focus that helped you in the first instance needs recalibration. Fewer individuals who succeed with that calibration rise like the phoenix to occupy the heights that many accomplished men/women would only keep looking at with awe.
James Altucher has now launched Bitzumi, his very own cryptocurrency, focused on the publishing and media industry. It would be very interesting to watch how this coin performs when put to test.