Bitcoin Forum

I have been a follower of Robert kiyosaki for some while after I read 3 of his books on financial education. Of recent I notice his sudden interest in cryptocurrency after almost all his email I received pointed to opportunities bitcoin and the blockchain has to offer.
Late night I received another explaining how the stock market will be destroyed by cryptocurrency. In his words, "There is one difference… A HUGE difference. Cryptocurrencies could destroy the stock market. You now longer have to buy stocks to get a small piece of a company. You could just buy their coin. Now there is no transaction fee. No broker needed. It becomes much simpler. "
           https://i.imgur.com/nTmiq1M.jpg

In simple terms the stock will become decentralized with the help of the blockchain. As a follower of his and a believer of the bitcoin (blockchain technology) I agree, do you?

What's your take on this, do you think the stock market can be destroy and how long do you think this will take before happening?.

Is it a legit statement? I'm also a big fan of Robert Kiyosaki and had reas some of his books such as Rich Dad, Poor Dad. I think he is right. If cryptocurrency will be widely accepted worldwide, instead of selling stocks, they will sell their own coins but I cannot see it few years from now. Maybe in 5 to 10 years it is very possible.

there is no need for a company to create a "coin" just because they want to sell shares on stock market! that doesn't make sense because they don't need to maintain a "coin" and its network just to have shares on stock market!
if by "coin" he means a token then it is even worse because then it will rely on another platform to run its token on. and that makes the following statement wrong too:
there will be transaction fees, there will be network problems if that platform has issues (eg. ethereum network congestion and high transaction fees, roll backs and lack of immutability). it will also be more complicated.

But not all companies are going to have coins though? Simply because not everything needs to be decentralized? I'm pretty sure owning coins/tokens is very different to actually owning a percentage of a certain company. Or am I missing something?

Hi,

A centralized company can have also a coin - (Look at XRP)

Owning Coin/tokens is very different from owning % of the company- Yes, But Owning this crypto asset give you Similiar rights as Stocks, and day a day this is getting better ( look NIO, nice voting system, on the way to decentralization etc...) OR look at AURA DAO, also a token what offers shares of the profits.

So you have a lot of the positive points of the Stocks without the negative points!

It is evolving, we will see how this progresses. For now, I don't know any crypto where you have Decision taking  power by buying the token - (not the same as Voting)

Yes. I'm aware about Ripple's XRP. But my point still stands. Not every single company is going to need their own coin/token, simply because not every single thing needs to be decentralized.

you are confusing two things.
this topic's discussion is not about a company (Ripple foundation for example) created to make a centralized cryptocurrency and sell that on the market.
this is about a company (for example Apple) creating a token instead and sell those tokens as his stocks (AAPL-token on some exchange instead of APPL shares on NASDAQ)! and that is what i said doesn't make any sense.

I'm a Kiyosaki fan and I remember that Robert Kiyosaki said in an interveiw a few years ago,that bitcoin is just the "next shiny object".He isn't a crypto/bitcoin supporter for sure. ;D
In his current statement,he isn't talking about bitcoin,he is talking about altcoins and tokens,from a total newbie perspective.I don't think that he knows how the blockchain works,or how ICO projects work.
NO transaction fees and NO brokers?He must be joking.Only the newbies think like that,when it comes to the crypto world.

Bitcoin destroying the stock market? Seriously? I don't think that will ever happen. I feel that the stock markets and the cryptocurrency markets will continue coexisting alongside each other in both the short term and the long term. Why is it necessary for one market to destroy the other? Why do so many people think that cryptocurrencies will replace FIAT at some point of time? FIAT and cryptocurrencies will continue coexisting alongside each other in my opinion. The cryptocurrency market is relatively new when compared to the stock market which is why these silly statements don't make any sense.

I agree with kiyosaki , he has a deep point about the stock market. However this is a future  prediction, I am sure it has high possibility of occurrence which I think its going to take a long time. I know cryptocurrency has a bright future, what if stock gets better, what if another innovation comes that appears better than cryptocurrency.

Seriously, I was expecting more from a guy like him. He is sending out those emails and he hasn’t even contrasted some basic info? If I had read that on this forum instead on a letter from him, I would have just put him on ignore for shitposting.

I dont think this is a good idea. He was just watching the transaction fee. Although the transaction fee in the stock market is quite high, we still have SEC protection and government intervention. In addition, we can have dividends every year if it grows well and if you hold a high stake you can run a business. But the Crypto market is the opposite. Here, it only has margin games and manipulation. Everything should be considered in two different aspects.

I don't think that Bitcoin will destroy stock market. I mean in theory how it's presented it's possible but it will not happen in real life.
Companies will not stop issuing shares and start issuing coins. This would be very daangerous business decision that would probably fail. No one would like to take such serious risk and change completely business rules.
The only way that cryptocurrencies market is competition to stock exchange is that some users would rather pick to invest in Bitcoin and other cryptocurrencies than company shares or other goods on stock exchange.

I also agree that bitcoin can destroy the stock market. However, instead of destroying a market it is better to work together to adopt blockchain technology in the stock market because I believe this technology can make a profit for all parties if used properly.

One must cease to exist for another to rise up. If cryptocurrency succeeds genaral shares then most companies will adapt to it, there is nothing wrong with that.

Bitcoin (Cryptocurrency) surely possesses the potential to destroy stock market but not anytime soon. It is still relatively new in the financial world and needs time and development.

This is highly likely to happen. Stock market will deal a huge blow if comapnies start to produce their own coins. People will find cryptocurrency more convenient than share market.

Bitcoin does have a very good prospect but predicting the future would be tough job to do. The way bitcoin is progressing, it definitely can replace stock market. Let's just see what awaits for us.

Why? Tokenization on decentralized platforms is useful. People can buy, sell and raise funds easily and outside of the legacy financial system. Investors can avoid KYC using secondary markets and fundraisers can avoid trusted financial intermediaries.

What is fundamentally bad about ICO tokens...?

Exactly that's the point, when companies realized  taht there's no need creating shares when they take leverage of the blockchain technology creating their own tokenized cryptocurrency just as binance and other Crypto companies did then we can say good bye to the stock market for good

Im not sure about crypto tokens replacing stocks. Stocks are going to be needed to be regulated by someone at the end of the day, unless you want to deal with a million scams everywhere being traded around just like the altcoin market. At that point you might as well just deal with traditional stocks.

Maybe im missing some benefits out there, im sure there are some, but in general this seems to me like another case of wanting to "blockchainize everything", when Bitcoin itself is objectively worth $trillions (therefore very undervalued)

yes cryptocurrency can destroy stock market, but to replace i don't think it will happen. stock market is good because less volatility and ppl still need safe (centralized) investment.

the keyword is "people can raise funds" not companies. and that has been the only case, random people without a company pretend to be a company and raise funds to do nothing. they use ICO exactly because there is no regulation, there is no KYC,... they can do whatever they like and get away with it.

a legit company that is registered and established,... is also regulated and for raising funds can not avoid things like AML/KYC laws unless they are trying to do something illegal. and there are better ways of raising funds that are also perfectly legal. there is no need for creating a useless token that is only used for raising funds.
and the common argument about changing the ways is valid here too. why would you change your method when the method you are using is already good and the alternative introduces a lot of issues?

that is the dumbest statement that I have ever heard.
obviously as others mentioned it won't happen because companies are not going to do what he is saying they will do.
but what if they do? that is not going to "destroy stock market"! it is like saying computers destroyed banking system! LOL. no they improved it. even if what he is describing really happens it won't destroy the stock market it will change the way it works. we can see stocks in different form and the "brokers" will still exist and continue offering their services and get paid for it. the only reason why we don't yet have cryptocurrency brokers is because the market has been too small and there hasn't really been that many people investing in it. there is only whales making profit and random small people losing money to them.

I have a world of respect for Robert kiyosaki, because I have read most of his books and I can understand why people differ from his views on financial matters and why accusations are made against him. <He is highly critical against the norm and also against some governments actions>

The Stock market has always been an exclusive playground for the rich and they placed several barrier to entry for the poor, not to participate.  >:(  I hope Crypto currencies will destroy and disrupt this playground for the rich.  ;)

I also knew him from that book and with one of his youtube video he always include bitcoin as a good investment so it only means he's a pro-bitcoin.

He's a well known investor and he understands both markets, stocks and crypto.

Not really. Lots of people who ran ICOs that way are now under subpoena or have already been formally charged by the SEC. People generally can't issue securities free of regulation, same as companies. 


Okay, but they're just the issuer. They have no control over what investors/brokers/traders do with tokens on decentralized blockchains. As a retail investor, I can easily trade security tokens on a DEX without KYC. This is a fundamentally good thing.


That's like saying stocks are useless. The point of a security is investment. What better ways are there? How is an IPO "better" than an ICO? Security tokens can make the market more efficient and accessible, and there are very obvious benefits for investors and traders compared to legacy brokers.

Companies are greedy, they will add the crypto coin as an addition rather than a replacement. It's like creating free money out of nothing so they will all do it eventually

Robert Kiyosaki's opinion is very true especially when he thinks ahead that cryptocurrency has a good future so crypto will be able to defeat the shares but this will not happen in the near future it will take quite a long time because many crypto want from on a moving stock of a company.