I smell fear... - page 2. | Bitcointalksearch.org

Darker45

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Quote from: philipma1957 on September 29, 2023, 10:17:57 PM

Quote from: Darker45 on September 29, 2023, 08:26:19 PM

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.

DanWalker

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Quote from: Odohu on September 29, 2023, 11:22:12 AM

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.

philipma1957

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'The right to privacy matters'

Quote from: Darker45 on September 29, 2023, 08:26:19 PM

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.

takuma sato

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Quote from: Ucy on September 29, 2023, 11:37:17 AM

Quote from: Lida93 on September 29, 2023, 11:02:08 AM

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.

The "priceless" could also mean that it becomes worthless (price-is-less = worth-less). You just have to be careful with their words.
But they are free to have CBDC. It won't stop freedom loving people from using Bitcoin. And Bitcoin will continue to increase in price and become more valuable even if a small or tiny fraction of a billion people use it the right way.

Those who don't care much about freedom will stick to centralized alternatives or things with the appearance of Bitcoin.

I think it's pretty established in english language that priceless in this context means worth a lot, "invaluable". And he's right. CBDCs will for the first time ever make Bitcoin a necessity for anyone that wants any privacy with their money in the first world, specially when they ban physical cash. For now only in third world estates they've had to resort to BTC, and it's still mostly the USD $ that's used there. Once this necessity hits the first world, you can bet the price will go up. However, obtaining BTC may become an obscure thing compared to login in on some exchange. I think BTC will eventually go into being an underground asset, just very valuable instead of the low valuations of the Silk Road days.

Asuspawer09

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Quote from: Lida93 on September 29, 2023, 11:02:08 AM

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.

I mean Robert Kiyosaki really liked Bitcoin from the start so it's not really a shocking thing to see or to know that he said this kind of thing to Bitcoin, he doesnt really like the idea of investing in Bitcoin and even the stock market.

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.

We doesnt really know but as a famous person what he says could probably affect the market so as a smart man, in the background he's probably investing in Bitcoin as well and making a good profit on it, I mean its always a market manipulation, so making this kind of statement probably could affect the movement in the market, there's always a possibility that he's manipulating the market.

Latviand

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Think of it this way, Kiyosaki is a businessman and he knows how the market works and the behavior of the people in the market so it's an obvious thing for him to do is to sow fear and discord in favor of his interests which currently aligns with bitcoin experiencing a downfall. Or probably he wants us to think that he has an insider information so some people get confused and try to follow what he's saying.

Darker45

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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.

Ale88

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Quote from: Lida93 on September 29, 2023, 11:02:08 AM

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.

Besides the fact that many of this financial gurus keep making statements just to avoid being forgotten, I think that he was talking more in a figurative way, it doesn't mean it literally but it's more about the fact that the privacy bitcoin gives you (both for transactions and storage) is priceless, so of course that has an impact on the price but, at least in my opinion, he wasn't talking about that.

romero121

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Based on the way Kiyosaki had conveyed the message, it looks like he had given broader briefing about bitcoin and CBDC in a single sentence. People are well aware of CBDC and cryptocurrency. People being fearful is common, because when something is unregulated and governments are against it. Using it longer gives them better understanding and move with the reality. CBDC being regulated and it is the same fiat over a centralised blockchain. This isn't gonna make any changes. Many countries have launched their CBDC and there is no big success as they've predicted.

If there is increase in the usage of these CBDC then there is chance for little fear. Because the governments will try to keep their things at the lead. For the same there can be situations with stricter regulations on cryptocurrency usage. However people who had used to cryptocurrency will never leave the market for such acts from the government. For the same people look for the loop holes to bypass and use it.

SatoPrincess

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Quote from: Ojima-ojo on September 29, 2023, 04:00:13 PM

Who is he?

No matter what his position is in the government or society, he is just a speculator when it comes to Bitcoin, this is because in as much as CBDC are developed, their still depend on Bitcoin and other companies to determine the extent to which the availabilities will affect the general market.

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.

serjent05

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@OP you misunderstood the statement of Kiyosaki. I believe he does not care about CBDC but rather it promotes the importance of the features of Bitcoin and how CBDC interferes with personal financial privacy rights. I take the statement that Bitcoin will become most important if CBDC enters the market since the government will be enabled to control and spy on people's finances when the government implements CBDC and people use it. Because behind the message of Kiyosaki lies the importance of Bitcoin protecting our financial privacy.

lombok

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OP's concerns are very reasonable, but keep in mind that what kind of system CBDC will adopt will also affect everything. If CBDC is released with the exact same system as USD (digital USD/digital currency representing a country) isn't this exactly the same as USDT? CBDC can be printed unlimitedly, of course, like USD. Of course from my perspective CBDC cannot be compared to Bitcoin. Bitcoin has a supply limit, BTC is unique, BTC belongs to the community, so when it comes to priceless issues, I think BTC will continue to be valuable like gold.

pixie85

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His only fear is that someone calls him out on his bullshit Cheesy

Let's ask ourselves who he really is.
Is he a bitcoin lover, or maybe a freedom lover. Is he an entrepreneur, or a publicist. Is he a youtuber, or an economist?

As far as I know, he only made money from his books and courses and we don't know how good his investments did because he won't share any details. How can we trust a guy who says he's rich and successful investor when he won't tell us about it, just gives advice for the future.

Didn't he lose a few businesses until he finally make some money selling a book? The book isn't even good. He just tells you what to do in general and most millionaire youtubers who share their secrets will tell you more or less the same things. You don't have to pay for a book to have an idea of what it's about.

panganib999

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Quote from: Don Pedro Dinero on September 29, 2023, 11:11:55 AM

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

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.

Things go according to how they trend so far, and there's a good chance he might actually be prophesying something. People are valuing their privacies even more, so much so that they are actually taking active actions that will lead them to reducing their digital footprints. Should this become even more important in the future, bitcoin is at a high position to set itself as the standard of money for people who don't want feds tracking their every move.

It's a little stretch but I can see it happening soon, with the government actively admitting that they are spying on everyone, advertising companies using our data to tailor-fit ads according to our preferences without our consent, and much more. Bitcoin could champion Web3.0 if things go well.

Ojima-ojo

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Who is he?

No matter what his position is in the government or society, he is just a speculator when it comes to Bitcoin, this is because in as much as CBDC are developed, their still depend on Bitcoin and other companies to determine the extent to which the availabilities will affect the general market.

Rruchi man

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Quote from: Lida93 on September 29, 2023, 11:02:08 AM

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..

Kiyosaki may have said this, or something related this and the media may be quoting him out of proportion. If he actually said this, you do not need to believe or follow what he has said at this stage of knowledge that you possess. You should be convinced as to why you are investing and hodling bitcoins.

hatshepsut93

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Quote from: mk4 on September 29, 2023, 12:12:08 PM

Pretty much this lol. People immediately jump the wagon when they see "priceless" thinking "valueless" without taking look at the context.

In this case Kiyosaki is just being smart with marketing — something that could potentially stir both bulls and bears depending on the understanding; and at the same time the fact that it will grab media headlines(which it did).

I'm not a native speaker, but I always thought "priceless" as "so valuable that you don't want to sell it, so there's no price tag". To people with low comprehension of English "priceless" might sound synonymous with "worthless".

Maybe global authors should use simpler terms to not be misunderstood by their global audiences.

PX-Z

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People jump to conclusion after reading the "priceless" word lmao. Check his X post^[1]. It just means if CBDC enters its worth having bitcoin because of privacy matters as CBDC is a great tool for the government to monitor people's financial transactions.

[1] https://twitter.com/theRealKiyosaki/status/1707636463620481390

The Cryptovator

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We all know Bitcoin is the most popular cryptocurrency due to decentralisation. So if anything wants to counter Bitcoin, that should be decentralised as well. We shouldn't worry, even when CBDC launches. Also, we shouldn't be overly excited. Everything will be normal; nothing is going to surprise us. I feel CBDC will help crypto users. We can exchange our BTC easily when CBDC is available in our country. But still, the government could monitor us through CBDC since it will be centralised and controlled by a central bank. Nothing to fear; just let them launch so we can act accordingly.

GbitG

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Quote from: Lida93 on September 29, 2023, 11:02:08 AM

~Snip~

This is the truth: Robert Kawasaki is a good futurologist, but it doesn't have strong evidence of sense that the Central Bank of Digital Currency (CBDC) will make Bitcoin priceless. Because there have been and still will be many people who have tried and put others in there but failed to bring down Bitcoin. So the government also has the same view that there should be such a system that is under our control. The government is trying to make the Central Bank of Digital Currency (CBDC) look like Bitcoin. So the aim is for the government to put the Central Bank of Digital Currency (CBDC) in competition with Bitcoin. And according to my opinion, if I am not wrong, this talk of Robert Kawasaki doesn't make any sense; just take it as a lame excuse. Because this does not confirm anything completely.

Topic: I smell fear... - page 2. (Read 485 times)