Robert kiyosaki; Bitcoin (cryptocurrency) to destroy the stock market.

[CryptopreneurBrainboss]

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. "
          

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?.

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[erickkyut]

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.

[pooya87]

You now longer have to buy stocks to get a small piece of a company. You could just buy their coin.

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:

Now there is no transaction fee. No broker needed. It becomes much simpler. "

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.

[mk4]

You now longer have to buy stocks to get a small piece of a company. You could just buy their coin

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?

[timotron]

You now longer have to buy stocks to get a small piece of a company. You could just buy their coin

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)

[mk4]

You now longer have to buy stocks to get a small piece of a company. You could just buy their coin

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)

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.

[pooya87]

You now longer have to buy stocks to get a small piece of a company. You could just buy their coin

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)

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.

[davis196]

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.
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.

[Haunebu]

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.

[tunapa]

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.

[Don Pedro Dinero]

You now longer have to buy stocks to get a small piece of a company. You could just buy their coin.

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:

Now there is no transaction fee. No broker needed. It becomes much simpler. "

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.

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.

[iASIC]

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.

[bitbunnny]

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.

[daarul50]

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.

[Micronometer]

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.

[Angleworm]

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.

[Antinomist]

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.

[Symptomatic]

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.

[squatter]

You now longer have to buy stocks to get a small piece of a company. You could just buy their coin.

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.

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...?

[CryptopreneurBrainboss]

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.

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