Rich Dad Poor Dad author Robert Kiyosaki has urged investors to ditch the U.S. dollar and buy bitcoin alongside gold and silver.Robert Kiyosaki has his own point of view and we appreciate that, and to be honest buying of Bitcoin is far better than buying gold and silver, however I don't think that ditching the U.S dollar is going to be helpful at all.
Robert Kiyosaki, author of Rich Dad Poor Dad, is well known and has strong opinions. I agree with him that anything printed in cash cannot be trusted because it has no real value and cannot be trusted.
But let's be realistic, Bitcoin and cryptocurrencies have not yet reached the stage of maturity that makes it possible to use them as a daily payment system alternative to the dollar or fiat. Yes, it is superior to the dollar in terms of being a store of value and a means of hedging against inflation in the long term, but it is still not able to do so until now To replace the old system.
Robert Kiyosaki Urges Ditching US Dollar for Bitcoin — Warns Boomers' Retirements Going Broke as Paper Assets Crash
Rich Dad Poor Dad author Robert Kiyosaki has urged investors to ditch the U.S. dollar and buy bitcoin alongside gold and silver. He warned that “baby boomers’ retirements are going broke as paper assets crash.”... See more for yourself here (https://news.bitcoin.com/robert-kiyosaki-urges-ditching-us-dollar-for-bitcoin-warns-boomers-retirements-going-broke-as-paper-assets-crash/).
Your opinion is greatly appreciated.
Re: Robert Kiyosaki Urges Ditching US Dollar for Bitcoin — Warns Boomers' RetirementEver since I started to follow Robert Kiyosaki, he's always been an anti-dollar.
the problem with this one is that if more exchanges are not allowing us to withdraw our funds because it seem like numerous exchanges are banned by governments. if all these happens then our coins are all theirs.I am having a hard time understanding what you mean, centralized exchanges can confiscate people's funds at anytime, and it is in their terms and conditions, this is why it is recommended to store coins only in self custodial wallets.
the problem with this one is that if more exchanges are not allowing us to withdraw our funds because it seem like numerous exchanges are banned by governments. if all these happens then our coins are all theirs.I am having a hard time understanding what you mean, centralized exchanges can confiscate people's funds at anytime, and it is in their terms and conditions, this is why it is recommended to store coins only in self custodial wallets.
However, this isn't the main discussion here, people who do not like the u.s. dollar have been talking about de-dollarization for a long time now, but that is not going to happen and that is why it will remain as the world's reserve currency for a very long time.
In the last year or so, it seems that Robert Kiyosaki is turning his back against the US Dollar and then going out full Bitcoin. He could have realized that after so many years, Bitcoin could really be the best hedge or his wealth, thus teaching this new generations on where and how to make profit. That is still his goal if you listen to his interviews. But now, he could have realized it's better to jump on Bitcoin's bandwagon for good and start preaching it and then subliminally uses the young generation as sort of the center of his preach and teach them a listen. It's not that I don't appreciate it, but it's self-evident that indeed Bitcoin is a new revolution, regardless of US Dollar will be ditch or go instinct or losses it's power as there are countries pushing it out like China and Russia.
As an investor himself, I am sure Robert Kiyosaki is making a big point here against leaning heavily on USA Dollar as we know that its federal bank is known to be printing money from time to time which is a big contributor to the getting-normal level of inflation experienced by the country which can, of course, render the value of the dollar lesser and lesser in terms of purchasing power. Dollar as a fiat is inflationary and there is nothing people can do to stop its continuing descent while Bitcoin is considered as deflationary and we are seeing its power right now in the bull season. Still, what he is saying does not mean that people should not anymore use the dollar because he is talking here with investing.