Bitcoin Forum

       
The author of *Rich Dad Poor Dad* has apparently publicly
supported the Bitcoins and at the same time he is giving advice to people to buy bitcoins before the upcoming banking crisis .

Now banks are in a really bad position right now , inflation rates are being apparently pushed by Fed , loans are rising , people are struggling to pay the debt off.

https://cointelegraph.com/news/buy-bitcoin-before-major-banking-crisis-rich-dad-poor-dad-author (https://cointelegraph.com/news/buy-bitcoin-before-major-banking-crisis-rich-dad-poor-dad-author)

-According to him Warren Buffet apparently have chosen  to dump the stocks , which will inturn cause the value to fall drastically , affecting the economic situation negatively.

-At the same time people are aware fo the fact that dollar is hitting lows , which would eventually be bad for the whole world , right now what we are seeing is a bubble waiting to burst .

-Having investments like Gold , Silver , Bitcoins would not only give the person a edge over the system , but their assets can also be protected.

........

What do you guys think ?
Is the decision worth it ?

Kiyosaki is giving the signal of leaving the fiat before the other big fiat holders dump their paper money over Bitcoin and Gold.

Warren buffet will surely take some bitcoin pie after dumping his stocks over gold.

Love the idea he has been preaching for a very long time now, since the start of the pandemic, his tweets always has a way of promoting bitcoin, this three assets (Gold silver and bitcoin) has been his pick for a safe investment. One thing I noticed about his tweets is he's not just saying this things for some cheap publicity stunt. Truely he's advising his viewing to get some of this asset which is a rare thing to see online this days.


Not happening anything soon, I would say bitcoin is too high of a risk and speculative market for him. Warren didn't buy gold per se that's if I'm not mistaking, he bought shares. I think there's a difference.

Yes, I think the decision is worthy somehow. I have noticed a bank crisis in my country, more withdrawing than deposits. If that continues then most likely we will encounter a bank crisis of course. I think it would be the right decision to invest in assets that would be sold at any time without hassle and for me, bitcoin would be one of them. Because those are involved with cryptocurrency only they can realize the value of bitcoin and most likely they wouldn't put their money into other assets.

He's been telling people to buy bitcoin even before the pandemic. He's a known bitcoin investor and he's including it with the videos that I've watched he uploaded. We will see how many will listen to his advise as we're exempted to it because we already have bitcoin.

Let's leave him as is.

He doesn't like bitcoin and he had told it before so unless there's new official word from bitcoin, let's take him as a known investor that's against to bitcoin.

the problem of giving people advice to buy bitcoin is when those people who don’t like to do research and have no notion that it’s possible that the price will fall and for that reason it is necessary to know the ideal time to enter the market and what will be ideal time to sell lose money will start blaming this guy who gave them advice. I also gave some people advice to buy bitcoin when the bitcoin price was only $8000 and the bitcoin price dropped to $7000 and the ones I gave advice to start selling bitcoin and today we are seeing the price of  $11500

I guess the idea is great to avoid the deflation and massive downfall of the major currencies like USD.
I've read an article about companies that slowly putting their funds in Bitcoin as they have foreseen something that could save them from lossing huge amount of money when USD is experiencing a hard fall.
Btc has been one of the best performing asset since the pandemic, so it would be expected that a lot of people will engage into Cryptocurrency as much as Gold and Silver.
Therefore, this decision is worth it every single penny.

This seems to imply that the last banking crisis ended and that we're due for an entirely new and different one.  I'd argue it's been one long, ongoing crisis since the events that sparked the inspiration for Bitcoin's creation to begin with.  Over the course of the last 15-20 years, the banking industry and associated regulatory bodies have effectively shuffled the deck-chairs around on the Titanic.  The ship is still sinking, albeit more slowly due to the stalling tactics they've employed.  It's not a new crisis.  It's same shit, different year.

Time will come, fiat currency will devaluate and cryptocurrency will become the primary currency that will take place fiat. As a pioneer of this system, I think this is our edge to others. However, we can take it as advantage if we had trust in cryptocurrency even there are ups and downs. But in my opinion, it is good to go with the flow. Because as economic crisis comes on, we are aware on how to dwell with these things. Let us be the rich dad and we should not be jailed on what is an orthodox right now because it might change when time comes.

Kiyosaki predicted bitcoin price of $50k by the end of this year. Now he warns about the crisis. What is going to be next ? He promotes his new book how to be happy and wealthy?

I’ve noticed more and more popular people and celebrities promote bitcoin, cryptocurrency or a service connected to it. This is either a beginning of a new era or they just shill.

It was proven that anyone can have a change of heart, possibly Warren Buffett. The last time I remember about Warren Buffett is his dinner with Justin Sun of TRON foundation.

I applaud Robert T. Kiyosaki for supporting and investing into Bitcoin on top of gold, silver and real estate. I did read his Rich Dad Poor Dad book, and it was one of the reasons that changed my perspective in managing my finances. I also read other books such as Cash Flow Quadrant, Guide To Investing, The Business of the 21st Century and Before You Quit Your Job.

The economy collapsed, but Bitcoin and other cryptocurrencies are on the rise, and that’s why he encouraged his followers to put some of their funds into BTC. He can see that coming, and his advice are very helpful (I followed him on Twitter by the way).

I think this is an awesome statement coming from an influential and highly experienced finance person like Robert Kiyosaki and this is the second time he will publicly make a good statement about bitcoin which shows that he's truly crypto enthusiast.
In the meantime, we need more people that will truly tell cryptocurrency potentials to the world because most of the people believed we crypto communities add sugar to everything we say about crypto.
 
It definitely worth it because bitcoin was introduced then by Satoshi as an alternative solution to the financial problems which the institutions and government were unable to fix and if bank crisis occurs a lot of people around the world will move to crypto.

Kiyosaki is not your average bitcoin shill that don't know much beyond bitcoin investing and managing their own finances. The guy speaks from experience and wisdom, and it's good that he's never biased on the same assets that brought him where he is right now and have accepted the fact that bitcoin and cryptocurrencies in general have their own space in the financial world--possibly even within the everyday lives of people. His well-received books by the masses and people within different circles says much about his knowledge, so you know that his advice regarding crypto isn't just a gimmick to inflate the value of what he's holding right now.

I think he saw the storm approaching in the sky.

https://www.marketwatch.com/story/powell-to-speak-next-thursday-on-feds-new-inflation-friendly-strategy-11597951135


This was published two days ago.

Now, I know that not all cuts in interest rates are necessarily bad for the economy, and this cut by itself is not going to trigger obscene or even surplus inflation rates, but if this policy runs for too long then bad things are going to happen. And I really hope they put the lock back on the box once they reach their target, though I'm probably hoping in vain as according to the quote they are averaging the inflation out which will make it higher than the 2% rate.

Buying BTC while economies in the whole world are on the verge of a crisis would be a brilliant idea since this covid-19 pandemic  could very well lead to a global economic meltdown that could drastically reduce the buying power of any fiat currency not unless its converted to Bitcoin and any other forms of crypto.

I guess it will not be surprising at all if investors would see BTC as a safe haven and as an alternative investment in order to diversify their portfolios  - fearing a stock market crash might occur anytime soon  due to this pandemic. Imho.

It's actually not the first time he's posted his public support for Bitcoin tbh, and it's guys like him I guess who have helped fuel this current rally in 2020, talk about traditional investors now going into BTC and ditching the traditional systems that used to earn them lots of money, eh? More and more are coming, now it just needs Martha Stewart to say Bitcoin and we're in for a ride;)

This is good to see the influencer or known personality prompting and accepting the bitcoin and this also helps to push the bitcoin in the world and in the country where the person it belongs too. Hope the demand continues to push the prices upwards and keep moving upwards and bitcoin in coming time become the mainstream as the payment options.

I do expect a banking crisis and some might even go bankrupt with people (possible me or my close ones) losing their savings. And putting at least some of that money into Bitcoin makes sense because Bitcoin is not directly affected by the crisis. However, Bitcoin price can change significantly and decrease a lot if other markets start collapsing. The FUD can make the price collapse as well, so Bitcoin is also a risky choice. There's no safe bet, but if I had significant savings, I'd probably buy a flat or something like this because at least this way you have something useful you possess in the end, even if you cannot earn much by renting it or cannot sell it for the same amount you spent on buying it.

Actually what he advises publicly to his follower has a good point. The whole world is at crisis now, the investor should consider buying bitcoin as a safe haven even if a little percent in their portfolios.

I think if many influencer advice like this in their social media we can achieve another all-time high price of bitcoin.

Reading news like this sometimes do scares me, and I usually think maybe things like this will only happen in years to come, because I can't imagine a world without fiat just crypto, it sounds like the future, i hope there won't be any major crisis that will affect people financially.

Bank crisis are everywhere, in many nations and I can call it as a global bank crisis. The pandemic uncovered secrets behind bank systems and government-based finance. They can print as much paper money as they want that is no difference than crypto minting without backed-assets.

Sooner or later, people will realize that the global economy is totally based on shit fiats and is backed by doubts. Sooner or later, the crisis will come. In my forecast, it takes time for the pandemic to destroy global economy, maybe after 1 or 2 years since its ending. I think that such a crisis will occur next 3 to 4 years guys.

It's possible to experience world without fiat currencies, but it's unlikely to happen. US Dollar is the most dominant fiat around the world. But it does not mean that without it's store of value, their are other fiat currencies that can took place over USD like Euro.
So basically, the world does not fully depend on US Dollar.

I think this is a nice idea since the bitcoin is an investment althouh it's somehow risky since its price varies over time. But during this pandemic, it's a worth it decision since the economy of most countries is not in good shape because of loans and having more withdrawals in banks rather than deposits.

Another thing is that bitcoin is performing great amidst the pandemic, hence, it's a good decision to invest in an asset that would not lose its value while the rest of the word is at the edge. The end of this pandemic is not yet certain since there's still no vaccine produced. Because of this, majority of countries economy would collapse and eventually, the value of fiat would decrease.

By then, bitcoin would be the reliable escape for the investors to make more stream of income.

I've seen this too but from different news site.

I'm happy that Kiyosaki is somewhat promoting Bitcoin, Gold and Silver and we are being pushed to invest into these assets instead of just putting our money into the banks. What he is saying is true. Banks are going down, Buffet dumped some of his bank stocks to invest in gold mining stocks.

For me, investing into these assets will protect your future compare to just holding your money and in the future it will be eaten by inflation. I've been investing in Bitcoin for quite some time already but not on Gold on Silver unfortunately.

I cant say if his only telling this probably right after he bought some bitcoin during the last crash when covid19 started. I read the post during that time and I am neutral on what he says. Im a fan as well but this could attribute to a shill. Whatever the case, banks will still continue to be devastated by inflations resulting from the crisis and held business to bankruptcies.

Bitcoin however is a secret pathway to securing the funds. Yes many says its not a safe grounds but look what happened. It is continue to rise in spite of world crisis.

I don't think it will happen, we're still need fiat even though the rate/price is dropped very low because this crisis.

1. All merchant, groceries, regulation and all of them accept fiat
2. Your salary/wage will be credited to your bank account or directly payed.
3. Easy to use, safe, and can't get hacked. Unlike bitcoin you need to be carefully before do something (check multiple times the address before send, never share your private key, your account on third parties can be hacked)

The world is on fire right now, we are all struggling to survive each day from the disease and he sees what may happen in a few years if this continue as WHO already stated that the pandemic might go long for over 2 years not counting the start when they declared the pandemic. Kiyosaki's point is right and wrong, it depends on how people will view the aspect of investing, in terms of safety investing bitcoin was never an option due to its volatility but if the price keeps increasing then the only way to survive this is investing virtually. Glad that he did not set the gold, and other tangible asset off of his grid, those asset will be valued forever.

Any man's word in a big world impacts a lot, better to choose who you listen to, if you listen to Warren expect your life to be miserable lol

When Bitcoin is in bull market, celebrities and influencers start promoting because it makes them look like they are genius investor advisers, and it makes them get more followers. This is how John McAfee became a huge shitcoin shill - he was just at the right place at the right time - the 2017 bull run. Had he tried to shill at some other time, he wouldn't get so influential.

Precious metals are proven to be somehow safe store-of-values. Bitcoin is also 11 years and still going strong.
In summary, everything that is scarce and used in some way should be a good investment especially in times of uncertainty.

Don't forget, only 21M BTC max supply from which a few millions are already lost in the cyberspace. ;)

So many people have mocked bitcoin over the years & doubted the power of decentralised money. They will learn to regret their attitude if they don’t already. Fiat currencies are crumbling in front of our eyes.

Bitcoin is the future.

Its not about promoting and shilling to get what he wants, its about awareness to people for the monetary systems such USD is now grumbling and is crashing.

For those of you who don't know Robert Kiyosaki has been known to publicly support Bitcoin since 2017 and during that time he also publicly says that fiat currencies particularly the US dollar will collapse, but what can we get from it? None because Robert Kiyosaki's reputation as a good investor has been destroyed ever since he declared for bankruptcy for his company. Now I only think of why he is tweeting his support to Bitcoin because he is just using the millions of followers he still has and is hoping that he can hype things up because he is holding a considerable amount of Bitcoin on his side. Anyone who has a big amount of follower is doing that, they aren't really saying investment advice but they are hoping that the people reading them can make them more rich not the other way around.

Well, good thing Robert Kiyosaki supports bitcoin. He is a good writer about financial advice and it advocates the importance of financial literacy. Overall, bitcoin and financial advice were in collaboration with each other because bitcoin may consider as a good asset. Millions of supporters by him made the bitcoin becomes hype and this will help to have a bullish trend in the market. I have an insight that bitcoin in the future will become the main valuable asset of all investors and the stock market and precious metals were in the second option.

Totally agree that a bank crisis will occur across the country, because the COVID19 pandemic makes it difficult for many people to pay off
loan money to banks. In fact, many millionaires have withdrawn deposits in banks to transfer to assets such as Gold and Bitcoin. Now this is
the most appropriate moment buy Bitcoin, before it actually becomes a reality the bank is in crisis. Because the price of Bitcoin will definitely
be very expensive if it is a bank experiencing a crisis. So it is worth buying Bitcoin now.

Basically we always had different new crisis from the Banks and this won't be a total different type. Believe me, the Banks won't close their businesses but will adjust their operations to fit into the new era of cryptocurrency. Robert K had figure it out that the forthcoming Bank crisis will be more disastrous than before, so, let anyone who can buy Bitcoin do before its too late, am happy to be part of this movement.

IMO, I will consider Roberts' advice as realistic advice, just because nobody knows what's gonna happen next.

Besides fiat can't' level its value to cryptocurrency and the only crypto is the worth investment at the moment. If the banking crisis uprises to different countries then it is difficult to find a worthy investment that only yourself can take care of it.

This could belong to the awareness of those people who didn't know yet Bitcoin in their country. All Robert Kiyosaki's books are very interesting to read and this might have an influence to the people who want to learn Bitcoin and the technology behind it.

     The problems mentioned are so real that a lot has already been experiencing the effects of these problems which then pushes almost everyone to look for better alternatives to protect their assets or to gain better profits. Whatever the case, the fact still remains; bitcoin cannot be you main investment. It can be good though but not as much as solid investments that you can still turn to if worse comes to worse. Bitcoin should be the last option and only have a portion of your overall investing plans instead of bed ng the primary. At least that's what I believe.

Kiyosaki is a strong supporter of bitcoin and he has never been shied away from telling people to invest in bitcoin and other assets. The global pandemic has put everyone in deep shit and banking and other financial services are not left out. If the bank finally collapses has he has said due to inflation etc. digital currency like bitcoin can be the saving grace for people that have the foresight. However, we must certainly not forget that crypto investment involves a lot of risk due to high volatility

The pandemic caused alot of damage to the world economic and the institutions but it atleast unleashed cryptocurrency potential to the world. Nevertheless, I like the fact that Kiyosaki dont join the association of influential/celebrity that secretly follow bitcoin and still say negative thing about bitcoin and if the banking crisis happen alot of people will choose crypto and gold but it still does not guarantee their investment is secure if they dont take their time to understand crypto concept.

What you are saying right now is really making sense. During this pandemic, people are constantly using their assets to sustain their needs and making investment is a big question since there is a global crisis, where economy are mostly down. That is why Bitcoin is what seen as the optimal alternative for the many.

Anyone remember the Cyprus bank crisis of 2013?
https://money.cnn.com/2013/03/28/investing/bitcoin-cyprus/index.html

Not really, he was mostly a fan a real estate of investing and always reaching out to his following to join the business. Next he picked interested in gold and silver, always tweeting about how they're a safe investment to the collapse of the US dollars. It's off recent he began saying positive things about bitcoin. If I'm not mistaking it's at the start of the pandemic after the news of trillions of dollars been printed.

I'm not surprised though, sooner or later major business entrepreneurs will begin realizing the importance of bitcoin and begin to buy into the idea of innvesting in it.

Definitely. I agree with idea of yours, based with the progress of Bitcoin these past few months.
As seen by the many, many businesses are turning their assets into crypto investments.
These pandemic surely made a huge shift in all of our lives.

The funny thing is that people are still confused , there are those who are feeling that this is not the right time to start buying Bitcoin, because they think that the price is too high, and then there are those who that Bitcoin is not right and there are other better assets lol.

Yes, bitcoin is not the only good investment, but at least it’s one of the top assets anyone can buy right now, and it’s their choice to decide for themselves.

When I started buying Bitcoin I never let the price bother me, as long as I see that opportunity to invest and make good profit in the future, I just buy with whatever amount I have at the moment and wait, there is no law that says you must buy one Bitcoin, just buy what you can afford as long as you know that you will be making profit in future, I don’t know why some people always think they must buy one Bitcoin lol.

I hope this does not come to reality because to me fiat is more vital in human existence and plays a role I don't think btc can play just yet, let btc remain an alternative to FIAT but currency, it is really hard to picture this scenario, if people are buying btc it is mostly because of the profit they are making from it nothing else let's be realistic, am sure the banks will find a way to avert any future crisis.

The decision would be worth it for those people who have dumped their investments from stocks and moving forward on putting those investments into cryptocurrencies, gold and even silver for it is indeed true that due to the existence of the pandemic brought by the covid-19, banks are facing a financial crisis for there is a high in demands when it comes to withdrawals, and loans for people are minding to have cash on hand to provide daily necessities to be able to survive life with this situation we are all currently in to. The problem is that more demands are coming from the outside of the banks and no incoming transactions to circulate at this time. Although they can survive once people have been able to pay those loans, still there is no assurance when and how because people mostly do not have works to be able to pay such loans and most are experiencing debts as of this moment.

But buying Bitcoin amid with the threat of a bank crisis, people must duly have knowledge about Bitcoin to be able to have effective switch, adaptation and usage of the cryptocurrency and not just because it is the trend as of the moment. It good that people are now realizing the importance and worth of existence of Bitcoin and looking forward that many will start buying and engaging into it but this must come with knowledge about it before coming up into doing engagement.

Started hodling way before I got ahold of what's going on with the global market. No regrets

As Bitcoin is the King and the most liquid digital asset, it is logical to think that people will want to invest in Bitcoin.
In a quest to protect your assets. What will you choose Bitcoin, Gold or Silver? Possibly you will choose Bitcoin.
As many have realized there are business owners who are exchanging their asset reserves for Bitcoin.

To tell the truth, I know that the dollar and in general the world economy is in a bubble about to burst, but I just want you to remember that Bitcoin although it is "decentralized" also moves like one more market and will probably also fall, I do not want to expel But just look at how it was affected by the global crash caused by Covid-19, it fell to 5k in less than a week. I only say this so that you think and do not let yourself be influenced by others.

Because of the pandemic the whole economy are very ruining right now but only one that still has no effect all with this. Bitcoin has no effected at all with the current chaos as the market has being controlled by the buyer and the seller with free will to hodl or sell it. That why many investors start to look at bitcoin as alternate for them as the current stock economy are in deep right now.

Mind sharing the data of your claim?that Businesses now are turning their assets to crypto investments?or this is just your speculation ?

Unless people says it well thats the only way you can prove that they are investing inside crypto market.
well the searches from Google prove that many people now are trying to find another place to invest and thers might find Bitcoin or other crypto to be the one?

They might be referring to this topic (https://bitcointalk.org/index.php?topic=5268078.0), but it's definitely not "many businesses" doing it.  We're probably talking about a tiny fraction of a percent of companies.