I smell fear...

[philipma1957]

I agree that Bitcoin would grow more precious when CBDCs become the main form of currency. The level of privacy and freedom that is afforded to us by cold cash would be gone when a digital fiat replaces it. The government's ability to monitor and control and seize hard cash is limited. The people are left with enough elbow room. They can more or less freely use it even in most illegal transactions. With a CBDC, the government could easily freeze funds, reject transactions, seize wallet balances, and so on.

Exactly.  So if you are fleeing a country you will not be able to take your cash/cbdc with you

and BTC will let you take the coins out.

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[DanWalker]

For me the entrance of a Central Bank Digital Currency (CBDC) into the market will not be in favour of Bitcoin as the very essence of such initiative will be to weaken Bitcoin.  I know the governments will do all they can to provide something that will look like Bitcoin, something they can control because they know that digital money has come to stay. Unfortunately, they will fail at achieving a digital currency that will challenge Bitcoin.

My country launched E-Naira but it failed because people never paid them any attention as there was practically no need for it. I know many governements in the world are also working on something like that but I'm confident Bitcoin will prevail.

If CBDC can cause bitcoin price to fall or cause bitcoin to weaken, then I think fiat can also do that because CBDC is just a digital version of fiat, even worse than fiat. But so far, what we can see is that fiat currencies continue to lose value due to inflation while bitcoin in 14 years has gained millions of percent relative to fiat. That means CBDCs will also suffer the same fate as fiat currencies.

CBDC was just a desperate attempt by the government to compete with bitcoin so it is not surprising that it failed. No centralized currency will be able to compete with bitcoin unless another decentralized currency emerges.

[Darker45]

I agree that Bitcoin would grow more precious when CBDCs become the main form of currency. The level of privacy and freedom that is afforded to us by cold cash would be gone when a digital fiat replaces it. The government's ability to monitor and control and seize hard cash is limited. The people are left with enough elbow room. They can more or less freely use it even in most illegal transactions. With a CBDC, the government could easily freeze funds, reject transactions, seize wallet balances, and so on.

Exactly.  So if you are fleeing a country you will not be able to take your cash/cbdc with you

and BTC will let you take the coins out.

That's another thing. Even if your CBDC wallet balance doesn't just turn to zero when you cross borders, a feature that disables functions once you're detected outside the country's jurisdiction can easily be implemented. If banks can do it, how much more can a powerful government?

Bitcoin doesn't just address this problem, it also guarantees that wherever you're going your Bitcoin will be acceptable because it is the same Bitcoin that everybody has.

[koang]

CBDC is all about the fear of change.

Privacy concerns echo through the chambers.
The force of innovation battles the dark side of surveillance, and the future remains veiled in shadow.
Lots of things happening are volatile...
We can only do our best with our limited knowledge and not to worry about it too much

[jasonjm]

I smell fear in this statement, fear of the government and it's co-partners about the extent of the financial freedom and privacy bitcoin has without regulatory policies handed over to people. And this freedom is looking like a threat to the government's sit of economic control creating all sorts of lies trying to deceive bitcoiners in giving out their freedom in exchange for a promising bitcoin priceless value.

In a World where privacy is an illusion, Bitcoin is giving people privacy. Every app you use is spying on you, one way or the other; even the bank transactions are being monitored by the governments and the private networks.
Bitcoin is giving people absolute privacy and hope, and with the advancement of technology, it is very important to have privacy as far as finances are concerned. CBDC is not an option if you are looking for privacy. Governments can not pinpoint and monitor the financial transaction through Bitcoin. Let's say you are somewhere in the World; travelling, you don't need to carry a ton of cash and exchange currency in every country. Have some Bitcoins in your wallet, and you are good to go. You can always convert them into local currency anywhere in the World.

[avp2306]

For me the entrance of a Central Bank Digital Currency (CBDC) into the market will not be in favour of Bitcoin as the very essence of such initiative will be to weaken Bitcoin.  I know the governments will do all they can to provide something that will look like Bitcoin, something they can control because they know that digital money has come to stay. Unfortunately, they will fail at achieving a digital currency that will challenge Bitcoin.

My country launched E-Naira but it failed because people never paid them any attention as there was practically no need for it. I know many governements in the world are also working on something like that but I'm confident Bitcoin will prevail.

If CBDC can cause bitcoin price to fall or cause bitcoin to weaken, then I think fiat can also do that because CBDC is just a digital version of fiat, even worse than fiat. But so far, what we can see is that fiat currencies continue to lose value due to inflation while bitcoin in 14 years has gained millions of percent relative to fiat. That means CBDCs will also suffer the same fate as fiat currencies.

CBDC was just a desperate attempt by the government to compete with bitcoin so it is not surprising that it failed. No centralized currency will be able to compete with bitcoin unless another decentralized currency emerges.

This is just a pure speculation made by those experts but it doesn't mean it will happen. Remember that we already have stable coins and that doesn't affect the strength of bitcoin so maybe the only assets get affected with CBDC existence in the market are those stable coins since for sure many people will abandon it and shift to the government regulated or handled coin. Bitcoin will still exist and those big institutions love its volatility so maybe we can see it being traded together just like a regular currency on exchange.

They are just really desperate to dissolve bitcoin but we already know that even before bitcoin is well supported by many people so they might struggle to control it or even dump until it go to zero value just like what they are saying.

[KiaKia]

There is always one thing I like about Robert Kiyosaki, he always admits that he could be wrong, see OP, they dropped their own bombshell, it doesn't mean it will or won't happen, it's just their opinion, everyone has his or her own opinion, don't care what other peoples opinion can be, if you got yours then why care about others?

In the past Robert has made some predictions that never turned out to be true, that shows that he is human just like everyone else, I will only make a headline about this if Robert is a god living among humans and it's public that he is, when humans make predictions it stays predictions because that's the least we can do as human, no one knows the future and no one has the power to read the future.

People should stop exaggerating CBDC, this is nothing but Fiat in a digital form, there is nothing CBDC can do to harm crypto or Bitcoin, one thing is certain with everything that comes from the government and Banks, they can't force me to use something that I don't want to use, simple.

[kryptqnick]

I see no fear in a person who's predicting that Bitcoin will rise well above what it's worth right now. I think he meant "priceless" as a metaphor, meaning that it'll cost way-way more than it does right now.
Op says Bitcoin's already priceless for them, but it's the subjective kind of immeasurable value attributed to Bitcoin, whereas Kiyosaki is encouraging others to invest in it, so it's safe to assume he means objective rise of value here.
However, I don't think it's an accurate prediction. I think a CBDC, unless being made compulsory, which I don't deem possible in the USA, can simply exist as an option, without impacting Bitcoin positively or negatively.

[Victorik]

I respect Kiyosaki. But I think this is clearly his personal opinion which I am sure he is entitled to. So, I would only take this with a pinch of salt. Besides, man has had predictions tht have failed in the past, so It wouldn't be surprising if this fail too. However, this is Bitcoin he is talking about, so, I would have an open mind and expect the unexpected.

[Lida93]

I saw this on twitter as made by Robert Kiyosaki and I found the idea laughable. Unfortunately I couldn't get a direct link for the screenshot so am using the information at the top of the image as my source..


I smell fear in this statement, fear of the government and it's co-partners about the extent of the financial freedom and privacy bitcoin has without regulatory policies handed over to people. And this freedom is looking like a threat to the government's sit of economic control creating all sorts of lies trying to deceive bitcoiners in giving out their freedom in exchange for a promising bitcoin priceless value.

We know cbdc with their inimical monetary policy control on distribution and issuance. There's no privacy in financial transactions with CDBC individuals financial details are easily accessible at anytime.

In a digital world where privacy is a key challenge having CDBC gain access and saturate the bitcoin market will only mean doom for bitcoin vision.

IMO  bitcoin doesn't have to become priceless only when cdbc enters the market, as for me bitcoin is already a priceless asset to my use I don't know about you..

In my opinion, I dont really think that CBDC is going to affect anything it might not like Bitcoin, but the community for sure is not going to accept this going to a digital currency that is controlled by the government. Bitcoin for sure is going to still be the number one here, we already see how Bitcoin adapts all over the globe, in fact, it is already supported by a lot of banks here in my country allowing users to bull and sell cryptocurrency, since in the past years they always see Bitcoin and cryptocurrency as a threat..

Definitely, bitcoin will get the popular acceptance we are in the look out for just that it will take more time not as fast as some may expect. With the support it's getting from banks in most countries  of the first world it's a good sign that the there's a progress in it's popularity and acceptance. Giving the backdrops from the third world countries the popularity and acceptance from banks and other financial institutions and establishments won't come that easy, a lot of time will be taken but eventually there will be a breakthrough but it shouldn't be under CDBC.

[SeriouslyGiveaway]

I smell fear in this statement, fear of the government and it's co-partners about the extent of the financial freedom and privacy bitcoin has without regulatory policies handed over to people. And this freedom is looking like a threat to the government's sit of economic control creating all sorts of lies trying to deceive bitcoiners in giving out their freedom in exchange for a promising bitcoin priceless value.

Bitcoin poses a direct challenge to the control over currency issuance held by the global elite. We've witnessed the difficulties faced by American presidents and countries that have attempted to alter the issuance of the US dollar. Currently, influential groups are attempting to reshape the narrative around Bitcoin (BTC) and Central Bank Digital Currencies (CBDCs) through the media and regulatory bodies like the SEC.

IMO  bitcoin doesn't have to become priceless only when cdbc enters the market, as for me bitcoin is already a priceless asset to my use I don't know about you.

In my opinion, CBDCs will coexist alongside BTC and the broader cryptocurrency market. Essentially, CBDCs are digital versions of national currencies, like the USD, which offer more control to the ruling class. However, it's crucial to remain vigilant, as they might aim to make you reliant on CBDCs, similar to the USD, and potentially take away your Bitcoin holdings.

[Silberman]

I respect Kiyosaki. But I think this is clearly his personal opinion which I am sure he is entitled to. So, I would only take this with a pinch of salt. Besides, man has had predictions tht have failed in the past, so It wouldn't be surprising if this fail too. However, this is Bitcoin he is talking about, so, I would have an open mind and expect the unexpected.

I think it is going to take more oppression for people to finally realize how awful the fiat system can be, and CBDCs could be what is needed for people to make that realization, after all we know that if CBDCs are released and governments force people to accept them then now they will have complete control over your finances, so if they decide to increase a tax then they can take that money directly from your wallet or even forbid you from buying the stuff that you want, and it is then that people will realize why having a form of money independent of government control is a must if they want to retain some of their freedoms.

[Z-tight]

I respect Kiyosaki. But I think this is clearly his personal opinion which I am sure he is entitled to. So, I would only take this with a pinch of salt. Besides, man has had predictions tht have failed in the past, so It wouldn't be surprising if this fail too. However, this is Bitcoin he is talking about, so, I would have an open mind and expect the unexpected.

Did you read the link i shared on the full story of what he actually said? His opinion is that BTC and some other assets he mentioned, like Gold for example, would become priceless and have their value rise so high once cbdc's are launched in the U.S.

So it is not even about if his prediction will be correct or not, but that he didn't give any explanation as to why he thinks that the launch of cbdc's will be to the advantage of all those assets. I don't know if he is saying this to bring some attention to him or if this is just what he feels, but there is no explanation from him on what he said and i would not take him seriously.

[Smartvirus]

The "priceless" could also mean that it becomes worthless (price-is-less = worth-less). You just have to be careful with their words.

I don’t know but, I’m getting a different understanding of the whole article from both the post in OP and after referencing the link provided by Z-tight. When Robert Kiyosaki is referring to the priceless nature of Bitcoin as a commodity, I think it’s in the nature of it being having so much value that makes it a hard to sell option.

Take a look at this quote from that very article;

According to Kiyosaki, the Fed CBDC would result in the loss of privacy but also lead to the increase in value of gold, silver, Bitcoin, and cash, which he believes will become “priceless,” and suggests investing in these assets and saving them “now before it’s too late.”

His actually advising people to buy as it’s a market for the future and he aligns it with other existing commodities within the centralized systems that has good values on them.
Bitcoin as it is, it’s already a hard to sell with majority of its hodlers having prospects and takes it more for an asset than a currency. How much more when its price behinds unmatched.
Be futuristic and buy to hodl for a long term.

[Lida93]

The "priceless" could also mean that it becomes worthless (price-is-less = worth-less). You just have to be careful with their words.

I don’t know but, I’m getting a different understanding of the whole article from both the post in OP and after referencing the link provided by Z-tight. When Robert Kiyosaki is referring to the priceless nature of Bitcoin as a commodity, I think it’s in the nature of it being having so much value that makes it a hard to sell option.

Take a look at this quote from that very article;

According to Kiyosaki, the Fed CBDC would result in the loss of privacy but also lead to the increase in value of gold, silver, Bitcoin, and cash, which he believes will become “priceless,” and suggests investing in these assets and saving them “now before it’s too late.”

His actually advising people to buy as it’s a market for the future and he aligns it with other existing commodities within the centralized systems that has good values on them.
Bitcoin as it is, it’s already a hard to sell with majority of its hodlers having prospects and takes it more for an asset than a currency. How much more when its price behinds unmatched.
Be futuristic and buy to hodl for a long term.

The term buy to HODL for a long term is one of such popular acceptable strategy by bitcoiners to accumulate, save keep or stack their coins as long as possible aimed at making profits, and this is done under complete privacy with just the hodler have knowledge of whatever percentage of bitcoin he has been able to own.

However, no matter how priceless bitcoin becomes in the future under a CBDC there can't be anything unique about it  anymore because just like fiat and gold the privacy and self-custody has been lost to CBDC which is what differentiate bitcoin from other invaluable assets like gold etc.
In my understanding, this pricelessness as  Kayosaki puts it comes at a cost  for our privacy and self-custody giving allowance to central regulations and policies.

[Victorik]

I respect Kiyosaki. But I think this is clearly his personal opinion which I am sure he is entitled to. So, I would only take this with a pinch of salt. Besides, man has had predictions tht have failed in the past, so It wouldn't be surprising if this fail too. However, this is Bitcoin he is talking about, so, I would have an open mind and expect the unexpected.

Did you read the link i shared on the full story of what he actually said? His opinion is that BTC and some other assets he mentioned, like Gold for example, would become priceless and have their value rise so high once cbdc's are launched in the U.S.

So it is not even about if his prediction will be correct or not, but that he didn't give any explanation as to why he thinks that the launch of cbdc's will be to the advantage of all those assets. I don't know if he is saying this to bring some attention to him or if this is just what he feels, but there is no explanation from him on what he said and i would not take him seriously.

Oh I see. If there's no explanation why he thinks the price of BTC and some other asset would skyrocket after the launch of CBDC, then I consider it as a baseless prediction and probably just wanting to get some attentions to himself.

[Blitzboy]

The "priceless" could also mean that it becomes worthless (price-is-less = worth-less). You just have to be careful with their words.

I don’t know but, I’m getting a different understanding of the whole article from both the post in OP and after referencing the link provided by Z-tight. When Robert Kiyosaki is referring to the priceless nature of Bitcoin as a commodity, I think it’s in the nature of it being having so much value that makes it a hard to sell option.

Take a look at this quote from that very article;

According to Kiyosaki, the Fed CBDC would result in the loss of privacy but also lead to the increase in value of gold, silver, Bitcoin, and cash, which he believes will become “priceless,” and suggests investing in these assets and saving them “now before it’s too late.”

His actually advising people to buy as it’s a market for the future and he aligns it with other existing commodities within the centralized systems that has good values on them.
Bitcoin as it is, it’s already a hard to sell with majority of its hodlers having prospects and takes it more for an asset than a currency. How much more when its price behinds unmatched.
Be futuristic and buy to hodl for a long term.

The term buy to HODL for a long term is one of such popular acceptable strategy by bitcoiners to accumulate, save keep or stack their coins as long as possible aimed at making profits, and this is done under complete privacy with just the hodler have knowledge of whatever percentage of bitcoin he has been able to own.

However, no matter how priceless bitcoin becomes in the future under a CBDC there can't be anything unique about it  anymore because just like fiat and gold the privacy and self-custody has been lost to CBDC which is what differentiate bitcoin from other invaluable assets like gold etc.
In my understanding, this pricelessness as  Kayosaki puts it comes at a cost  for our privacy and self-custody giving allowance to central regulations and policies.

Bitcoiners value HODL for privacy and self-control. Does CBDCs mean Bitcoin's uniqueness is gone?

CBDCs may weaken privacy, but Bitcoin's decentralisation cannot be overshadowed. As you indicated, Bitcoin's decentralisation distinguishes it from CBDCs. People may still use Bitcoin to avoid central authorities. However, a shift is happening, producing uncertainty and friction among holders. Will Bitcoin survive the CBDC tide? Time will reveal this mystery. Let's HODL and hope for the best until then.

[m2017]

That is Robert Kiyosaki's opinion, and without reading from a source that covers what he said^[1], there could be misconceptions about this opinion of his:

According to Kiyosaki, the Fed CBDC would result in the loss of privacy but also lead to the increase in value of gold, silver, Bitcoin, and cash, which he believes will become “priceless,”[/b] and suggests investing in these assets and saving them “now before it’s too late.”

Truly cbcs's are clearly anti-privacy digital currencies that will just give the authorities more ways to keep track of people's financial activities, but i don't know how it is going to lead to an increase in the value of assets mentioned above and make them priceless. Kiyosaki just made a statement without backing it up with any explanation or probable fact and i wouldn't take anything he said here seriously.

[1] https://finbold.com/r-kiyosaki-bitcoin-will-become-priceless-when-cbdc-enters-market

There are doubts about what is highlighted in the text. Ok, I can somehow agree with the fact that gold and silver, as well as bitcoin, will become “priceless”, but for cash. Here I am certainly sure that the cash will not become priceless when Fed CBDC appears, but will become useless to anyone, because cash will remove it from the general monetary circulation by imposing only CBDC for use. Why save what no one will need? This is some kind of idiotic dubious strategy, because the cash will probably become useless.

Well, I wouldn't take Kiyosaki as a reliable futurologist either. He himself has made failed predictions in the past, acknowledged later.

To the disappointment of his fans, this is exactly the case. "You not make for yourself an idol in the form of anything", remember? Blind faith deprives of critical thinking, which encourages unreasonable actions.

What he says would make a lot of sense if people valued their privacy highly, if they didn't increasingly pay for digital media from centralised entities around the world, if they didn't post half their lives on social media and so on. But we see that the trend in the world is the opposite and most people don't care about the loss of privacy of CBDCs, they already pay for everything with their smartwatch.

The battle against CBDC was lost before it even began. Look around, at your neighbors and acquaintances, they will all be happy to use CBDC as soon as it is implemented, and they will also rejoice at this innovation. What can I say, real fools.

[tjtonmoy]

For me the entrance of a Central Bank Digital Currency (CBDC) into the market will not be in favour of Bitcoin as the very essence of such initiative will be to weaken Bitcoin.  I know the governments will do all they can to provide something that will look like Bitcoin, something they can control because they know that digital money has come to stay. Unfortunately, they will fail at achieving a digital currency that will challenge Bitcoin.

There will always be 2 types of people. One who will accept the facts and one who will reject it. In the end, the majority on one side will win. If the majority of the people support CBDC then it will be a defeat for Bitcoin. But if there are more people supporting BTC, then that will be a defeat for CBDC. Always remember, that every coin has two sides. If you flip the coin, the probability is always 2:1.

In my opinion, Bitcoin is successful because it is decentralized. It gives freedom to its users. CBDC is the complete opposite. It's a new scheme to have more control over people by the government. The moment people realize this, they will turn their back to CBDC and then come towards BTC. So yeah, CBDC does not pose any thread towards BTC.

[Ojima-ojo]

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It’s obvious you don’t get the topic and even worse didn’t read the above replies before commenting. I didn’t expect people would still mistake “priceless” in the OP as ”worthless” after this thread has reach the second page and others users have already corrected that impression.

How do CBDCs depend on bitcoin and “other companies”? CBDCs are not altcoins that are affected by the price of bitcoin, CBDCs are like digital fiat controlled by the government. They are programmable which means the government can print as much as they like, they can control how you spend your money and can freeze your assets anytime they want.

I think what Kiyosaki is saying in the text is that when people realize the dangers of CBDCs, the demand for bitcoin would be high.  

Mate i am just being sarcastic in my approach to the comments amd you shouldn't take the first paragraph of my comment out of context and any ways thanks for the correction on my misconceptions of what CBDC is and waht their interconnectedness to Bitcoin.


Just like USDT which can be frozen in any wallet which is the attribute of centralized coins CBDC is anything different from that and that should be properly understood, Kiyosaki's statement means a lot as regards to Bitcoin being the escape coin to avoiding over control of the government.