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...
For a second, I thought maybe he was engaging in the popular tax avoidance strategy where you keep your investments in stocks, and then rather than sell them for liquid cash and pay capital gains tax, you take out low rate, interest-only loans using the value of the stock as collateral. It's the sort of bullshit loophole available to the billionaire class to avoid paying their share of tax...
...but no, guy's just leveraged up to his eyeballs in real estate and gold-buggery, and has the audacity to claim to be a finance guru.
I can just sell all my btc, start a new one(lemmicoin? Smuckbucks?), and start the grift over again.the first guy out the door as London bridge falls makes the most.
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.
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.