'Rich Dad, Poor Dad's' Robert Kiyosaki Says He's $1.2 Billion In Debt Because 'If I Go Bust, The Bank Goes Bust. Not My Problem'
'Rich Dad, Poor Dad's' Robert Kiyosaki Says He's $1.2 Billion In Debt Because 'If I Go Bust, The Bank Goes Bust. Not My Problem'
Robert Kiyosaki, a best-selling author and seasoned investor, has a distinct philosophy on debt and investment. In a Nov. 30 Instagram reel, Kiyosaki elaborated on his debt philosophy, highlighting a critical distinction between assets and liabilities. He said many people use debt to buy liabilities...
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Not at all, that's a complete misunderstanding of how this works.
If they print more USD, it dilutes the savings people have in USD.
If people start using smaller denominations of BTC, then your savings hasn't been diluted at all, the smaller denominations happens when 1 BTC becomes worth more.
For others...
If there are a maximum of 3000 coins and 2999 have been minted, and then instead of minting the last one, you mint 0.00000001
The total is still less than 3000. It's 2999.00000001
You didn't dilute the 3000 total, there isn't 3000.00000001
This would require a hard fork to implement in Bitcoin, but it would follow the rules of never having more than 21 million coins.
For this to even be worth considering, BTC would have to have immense value to make altering the final halving worthwhile.
The other poster seems to be talking about using smaller divisions in BTC. Like trading half instead of one for a pizza, and then trading a tenth instead of half, and so on. Eventually using satoshis.
The price of an object in BTC gets smaller and smaller in BTC pricing.
That does happen, but they don't understand the difference between that and the Fed diluting a dollar over time.
If I have 1 BTC when it buys one pizza, and then still have it when it buys 100 pizzas, my savings have grown.
If it takes $1 to buy a pizza one day, and years later takes $10 to buy a pizza, my USD savings have shrunk even if they are nominally the same.
that's why people say to invest in BTC because the same exact holdings grow, rather than shrink like USD. Going by the votes on here, many people don't understand that the rarity of a currency is half the equation in its value.
Some might not understand that, but I think OP was talking about the 21 million limit not being a limit as I described. You said its limited, he said its infinitely divisible. The only way its infinite is if its hard forked as I described, otherwise there's a hard limit of no division smaller than 1 Satoshi.
Good luck buying a pizza with your BTC lmao
People already have, long before it was even a popular program.
There's marketplaces where you can buy and sell a lot of different things with BTC