I heard Robert Kyosaki is talking about the crashed of FIAT CURRENCY? when this thing will happen? how are we going to respond?
The is no way that fiat currency is going to get crashed, the only way that this is going to possible is when the economies of the various countries associated with their currency gets crashed, And am sure that when the economy of a country gets crashed or goes into recession, its going to affect the entire world, and cryptocurrencies are not going to be spared either.
This is exactly the mistake a lot of bitcoiners make. I've had friends wish WWIII and general economic turmoil on the world, because they seem to think this will be a good thing for bitcoin. Or a stock market crash.
Even outside of the scope of an economic crash or depression, Bitcoin faces lots of risks. It's a new asset class, and in many ways still unproven as a technology. Loss of network effect to other cryptocurrencies or heretofore unknown value storage and transfer technologies is one future possibility. Another is SHA256 being broken, or the threat of quantum computing generally in the future.
And in the context of a depression, people will be focused on feeding their families, not transferring value electronically. I can't imagine how Bitcoin could thrive under such conditions.
