Bitcoin - Deflation, economy - inflation. Connect dots and end the FUD

[tranthidung]

Robert T. Kiyosaki mentioned about hyper inflation many times, and more regularly since 2020. Below is his latest tweet

The best time to prepare for a crash is before the crash. The biggest crash in world history is coming. The good news is the best time to get rich is during a crash. Bad news is the next crash will be a long one. Get more gold, silver, and Bitcoin while you can.  Take care.

In an article from BitcoinMagazine, the US. inflation rate U.S. Inflation hits highest rate since 2008, outlining case for Bitcoin
You can get the original chart -- 12-monhth percentage change, Consumer Price Index, all items there

The consumer price index (CPI), a measure of the price of consumer goods and services, increased by an annual rate of 5% last month, hitting its highest mark since August 2008, according to the U.S. Bureau of Labor Statistics.

Is it a reason satoshi created Bitcoin in 2009?

• Bitcoin's Genesis block
• "Chancellor on brink of second bailout for banks" - Where To Find this on the Bitcoin Blockchain

Now, it is your time to connect dots, think of it in macro view and make your decisions.

Be yourself, with your own opinion and being immuned from FUD.

• Bitcoin bull run, it's time to debunk Bitcoin FUD.

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[davis196]

Since when a conman like Robert Kiyosaki is viewed as an authority in the field of macroeconomics?
I remember what Kiyosaki said years ago.He said that Bitcoin is a "shiny object",which didn't sound very positive.Now,he says "buy more Bitcoin". I can assume,that he might be a skeptic,who evolved into a believer in the power of Bitcoin,but I still don't trust this guy.
High inflation is coming,but we shouldn't put so much trust into some "preachers of the Apocalypse".
There were famous people,who kept preaching about an upcoming "major crash" or "the biggest financial crash of all times" during the last decades.Such crash never happened.There's a small chance for such crash to happen,but also there's a chance of a fast and rapid recovery of the global economy after the pandemic.

 

[tranthidung]

Since when a conman like Robert Kiyosaki is viewed as an authority in the field of macroeconomics?

I don't mind about it, and when? A valuable opinion is a valuable one and it does not matter who says it and when.

I remember what Kiyosaki said years ago.He said that Bitcoin is a "shiny object",which didn't sound very positive

Everyone can change, has freedom to change our mind. It is basic human right. Additionally, Kiyosaki has never said bad about Bitcoin. Have you ever read one of his book, The second chance? I don't remember at what page, but in the book, when he was asked, he simply said, I don't know much about Bitcoin. That's it. Frankly enough. After a few years, and after what he observed in 2017 and 2018, he decided to become a Bitcoin supporter since 2018 or 2019.

Now,he says "buy more Bitcoin". I can assume,that he might be a skeptic,who evolved into a believer in the power of Bitcoin,but I still don't trust this guy.

Why not? Moreover, Kiyosaki is an investor or hodler, not trader and he does not care too much about short term changes. Obviously, he has enough experience to wait patiently for good entries.

High inflation is coming,but we shouldn't put so much trust into some "preachers of the Apocalypse".
There were famous people,who kept preaching about an upcoming "major crash" or "the biggest financial crash of all times" during the last decades.Such crash never happened.There's a small chance for such crash to happen,but also there's a chance of a fast and rapid recovery of the global economy after the pandemic.

Don't rely on him. Look at two main things we can have

• CPI index (in OP)
• Massive QEs, money printing from governments since the pandemic

[Poker Player]

I think you have to listen to Kiyosaki, because he knows what he is talking about, but you may not agree with him. He was already announcing the crash some time ago and when he did not come he said that he could not imagine the massive printing of central banks to avoid the crash. That he has changed his mind about Bitcoin is no reason to disqualify him. Many have, and welcome they are.

I think the crash is likely, but I have been hearing that there was going to be a crash equal to or worse than that of 2008 since 2012, and many years have passed without it happening. So I wouldn't bet on a crash happening within a year either.

[tranthidung]

I think you have to listen to Kiyosaki, because he knows what he is talking about, but you may not agree with him. He was already announcing the crash some time ago and when he did not come he said that he could not imagine the massive printing of central banks to avoid the crash. That he has changed his mind about Bitcoin is no reason to disqualify him. Many have, and welcome they are.

It is great vision! He has it.

Massive QEs, money printing only make the crash worse, not to avoid it.

When will it happen? Who knows but it will and the vision of Kiyosaki is correct, in my opinion. Have you ever thought of the vision of satoshi? It takes about 1 decade to become great like what we witnessed in 2020.

[wxa7115]

Since when a conman like Robert Kiyosaki is viewed as an authority in the field of macroeconomics?
I remember what Kiyosaki said years ago.He said that Bitcoin is a "shiny object",which didn't sound very positive.Now,he says "buy more Bitcoin". I can assume,that he might be a skeptic,who evolved into a believer in the power of Bitcoin,but I still don't trust this guy.
High inflation is coming,but we shouldn't put so much trust into some "preachers of the Apocalypse".
There were famous people,who kept preaching about an upcoming "major crash" or "the biggest financial crash of all times" during the last decades.Such crash never happened.There's a small chance for such crash to happen,but also there's a chance of a fast and rapid recovery of the global economy after the pandemic.

 

Well no one really knows when the next crash is coming, that is true, but you only need to take a look at what is happening and the pandemic probably speed up the process at least a decade, governments had to print huge amounts of money just to keep the economy going and we are going to have to pay for that sooner rather than later.

This will create inflation and combined with unemployment and businesses closing their doors as no one is buying their products this is going to put the economy under an even bigger stress making difficult to see the economic recover governments are expecting and creating the perfect conditions for yet another economic crisis.

[speedy963]

The only thing that makes things even sadder than my crypto wallets and portfolios is how people ridicule others that are very different or preach things that are against other people's beliefs. This has happened so many times in history that a lot of people nowadays choose to isolate themselves from others and if not, chooses to be silent and only share their thoughts to the people that they can trust and they know would never ridicule them despite the contrasting beliefs and ideologies. Anyway, I people won't see that this year is the best way to stack up, I really do not if when they would start stacking up or if they even think of stacking up.

[batang_bitcoin]

Robert is right and that's what we're favoring to say about buying bitcoin and the same goes for the gold people. It's about beating the inflation and saving your wealth before the crash happens and gaining more wealth while the crash is occurring. We're already immuned with the FUD, coming from China? don't mind it. Coming from Elon? let it pass and that's the same with any other FUD that might come to depress our emotions and feelings which is trying to push us to sell. But no way, HODL and just let it be.

[hatshepsut93]

Is it a reason satoshi created Bitcoin in 2009?

No, because Satoshi started working on Bitcoin long before the 2008 crisis, so unless Satoshi is a time traveler or can see the future, he couldn't know about the coming crisis. Satoshi created Bitcoin, because having a decentralized currency was a goal of cypherpunks since the 90s, and there were many attempts at that, and Satoshi used their experience and ideas to create Bitcoin.

There are always people who say that the crisis is coming soon, but if everyone listened to them and lived in fear all the time, there would be no investing and business activity. That would indeed be a crisis.

[tranthidung]

Is it a reason satoshi created Bitcoin in 2009?

No, because Satoshi started working on Bitcoin long before the 2008 crisis, so unless Satoshi is a time traveler or can see the future, he couldn't know about the coming crisis. Satoshi created Bitcoin, because having a decentralized currency was a goal of cypherpunks since the 90s, and there were many attempts at that, and Satoshi used their experience and ideas to create Bitcoin.

Although I know there are preparation before the launch and the history behind Bitcoin, any launch or debut need to be done at right time. The 2008 crisis brought good conditions for satoshi to launched the Bitcoin's Genesis block.

There are always people who say that the crisis is coming soon, but if everyone listened to them and lived in fear all the time, there would be no investing and business activity. That would indeed be a crisis.

You're partially right. It is proven by the pandemic announcement by WHO's press conference and the terrible crash of all markets globally, exclusively Bitcoin market, in March 2020.

It is how people react shortly after news is published. Long run, they will be calm and think deeper, it is reflected on Bitcoin growth since March 2020 to early months 2021.

[hatshepsut93]

Although I know there are preparation before the launch and the history behind Bitcoin, any launch or debut need to be done at right time. The 2008 crisis brought good conditions for satoshi to launched the Bitcoin's Genesis block.

Satoshi released Bitcoin to a small group of people known as the cypherpunks mailing list, and he was even the only or among a very small number of miners for the first months of Bitcoin. It was irrelevant when to launch Bitcoin, and I'm 100% sure Satoshi would have launched Bitcoin on that data regardless of economic situation. The fact that Satoshi choose that title for the genesis block is more of a coincidence. I'm sure that could have been another titles for the genesis block that would have highlighted Bitcoin's purpose.

[palle11]

Robert is right and that's what we're favoring to say about buying bitcoin and the same goes for the gold people. It's about beating the inflation and saving your wealth before the crash happens and gaining more wealth while the crash is occurring. We're already immuned with the FUD, coming from China? don't mind it. Coming from Elon? let it pass and that's the same with any other FUD that might come to depress our emotions and feelings which is trying to push us to sell. But no way, HODL and just let it be.

I think that Robert view about inflation is just an individual perspective to handle or survive with inflation. Inflation is not individually tackled, it is a government issue from their policy. On the other way to his view I think government should come up with policies that will help the people to a better life and with a system that is less inflated. They should reduce the rate of printing money because high rate of liquidity leads to inflation naturally.

[wxa7115]

The only thing that makes things even sadder than my crypto wallets and portfolios is how people ridicule others that are very different or preach things that are against other people's beliefs. This has happened so many times in history that a lot of people nowadays choose to isolate themselves from others and if not, chooses to be silent and only share their thoughts to the people that they can trust and they know would never ridicule them despite the contrasting beliefs and ideologies. Anyway, I people won't see that this year is the best way to stack up, I really do not if when they would start stacking up or if they even think of stacking up.

This is nothing new and it will keep happening because that is the way people think, just to give an example the same happened to Albert Einstein, if you think that the scientific community will be full of objective people that care about nothing but the truth you will be mistaken.

Einstein was ridiculed by his theory and people simply disregarded it as false and once it was corroborated by the data the scientific community still refused to acknowledge it because he was German and it was not until it was corroborated again in which the theory was finally accepted, so it is not a surprise that those that are warning about an incoming crash are isolated and ridiculed.