Topic: What's your take on this Robert Kiyosaki's thought? - page 2. (Read 398 times)

I believe it is more on gaining a lot from his audience.  Kiyosaki is an author so anyone who got interested and buy his books makes him gain.


Possibly he is an attention seeker since he probably got addicted to fame and attention when his books went viral years ago.  Years ago, his books are sought after by people who are into Network marketing and want financial independence.

But I believe he is saying nonsense now.  Probably making a somehow controversial statement to make his thought a bit different but mathematically, what he said is not true.  He is trying to play with the audience's mind again...

Kiyosaki is full of shit. He made more money selling books and being a personality than investing. If he's so smart why isn't he an investor but rather an author? When it comes to investing or trading he's rather average, but knows how to sell himself and his ideas.

I don't understand what he means. I'd like him to explain this idea to someone who bought bitcoin at 60k in 2021. Robert should explain to the guy that he made money at the point when he bought bitcoin. It doesn't matter that it fell to 50, then 4, then 20k... He made money when he bought it

Profitability is still not certain to all those who decide to invest in bitcoin since we all have different attitudes and perspectives when it comes to bitcoin, but one thing is certain, if you are hodling it and would only sell if the current price outnumbered its previous price when you bought it, well consider yourself profitable already as no one gets lose if he never sells at a lower position.

Yes, Michael Saylor just proves that with deep conviction, there is always high possibility to be profitable in bitcoin. Selling his MicroStrategy shares could be his best strategy towards bitcoin, and that decision brings him to the position where he is right now.

We all have seen how bitcoin price moves upward year after year so most probably if you buy it today regardless of the price, whether your intention is to hold it short term or long term, that is already means profits on your side, most especially if you decide to finally sell your bitcoin. Bitcoin is a profitable investment, so the moment you start buying and hodling it, you are bound to establish your own profits in the future.

What you said is akin to someone who writes a book titled "the secret on how to become rich" but he's going around looking for money to print his book.

I've read some of Robert Kiyosaki's books, like the rich dad poor dad, and I find it really interesting but I wouldn't take what he said seriously because it doesn't make sense. If someone buys Bitcoin at ATH and sells now, how is that a profit? My best guess is he's looking for attention.

These days it's so easy to fake wealth on the Internet and monetize it. You can rent a luxurious apartment for a few days, rent an expensive car, hire some escorts then post the photos on instagram claimed that all of that is yours and you can teach others how to be successful too. And then you make so much money that you easily recoup your "investment".

I do not understand what RK is saying. Maybe he is said it to sound smart but I doubt if there is any sense in it. Or better still he should keep it simple. I'd rather listen to Elon Musk than RK. He should stick to Real Estate. He's on the same class with Peter Schiff or whatever.
The way I understand it is this. If you hold your bitcoin long enough you are going to be in profit. There is a positive correlation between longterm holding and profit. There is a negative correlation between holding and profit. The longer you hold, irrespective of what price you bought bitcoin at the bigger your profit.

I don't know or understand this


Holding for two years plus or more. That is it.

Hmm, that's a little bit worried but sorry, Boss. I totally disagree with Robert Kiyosaki's thought because he says only buying Bitcoin at every point is a profit synonym, but this is just speculation. And speculation can be wrong. Besides that, this is also the reason for my disagreement. Because in the case of a lawsuit, if we look at things comparatively, it is not like that in reality, and the justification I have for this thing is whether the price of Bitcoin is going to rise straight and not fall down. The answer is yes, of course, there is a bull market and there is a bear market. So it means that buying Bitcoin at every point can't give you profit every time because evidently, when the bear market comes beyond any doubt, it can organize your profit if the price goes up, if the bull is at its peak, and if the next move is Bitcoin's bear. As for the market, buying Bitcion at this time can do nothing but harm you.
 
So it's mean to say that according to Robert Kiyosaki's, buying Bitcoin is only profit marketing. So i why people always prefer to buy Bitcoin at bear markets, despite the fact that real traders or investors often buy in bear markets because they know that buying Bitcoin at every price or point cannot give a profit every time. And I think Robert Kyasaki would be good at writing books, but that doesn't mean that he would be good in the crypto industry. Understanding the crypto market is hard.

I’m not sure what he means by that. A little more context would help. Is he suggesting buying at the top doesn’t matter? Because that would be stupid. There are people who made the mistake of buying bitcoin at ATH and haven’t recovered till date. Anyway, I tend to disregard anything Kiyosaki says. The man wrote a good book but that does not make him a financial expert. His recent interest in Bitcoin is surprising because he’s always preached physical assets. I think since his counterparts Warren Buffet and others are anti bitcoin, he’s trying to be the unconventional one and increase his popularity by recommending bitcoin as a solid investment.

Stop getting influenced by these influencers and do whatever you can to accumulate as much BTC as possible.
That's the only way to get rich right now. It doesn't matter what Robert Kiyosaki is saying if it doesn't align with your thoughts.
So stop focusing much on it and try finding ways so that at the end of the day you have more bitcoin in your wallet.

That's the first rule of being a merchant... As a retail seller, you make your profits when you buy your stuff from the wholesaler. As I see it, Kyosaki treats btc like goods and that makes sense from a merchant point of view. A merchant only buys his stuff low and sells it high and he only sells the stuff which are in demand. The stuff people don't want become overstock and overstock gets dumped for any price. That's exactly what Amazon, Walmart and Homedepot doing. They buy the stuff, they buy a lot of it, since they buy a lot, they buy it cheap and they sell the stuff after they add their profit margin.

We saw the merchants point of view, now let's look at it as a customer. Don't you want to buy your favorite stuff when there is a discount going on? You want to buy it cheap too right? And when does that happen? When these big retailers dump their excessive stock... or on Black Fridays. Why do those huge retailers make huge sales during Black Fridays? Because they make huge discounts and people wait for a year for that day. People ain't stupid. They don't pay $100 for a basic hosting plan when they can buy it in November for $10.

I read Kiyosaki's Rich Dad Poor Dad book and it was really good. Then at some point later I listened to a podcast episode of his when he was interviewing Saifedean Ammous (actually it was an episode of Saifedean's podcast I listened to but he just played the audio of him being interviewed on Kiyosaki's podcast). All I can say is Kiyosaki is a lunatic. The entire time he sounded like a belligerent insane person. And he supposedly was knowledgable on Bitcoin yet sounded like he didn't know anything at all about Bitcoin. Closest thing I can relate it to is it reminded me of whenever I hear Trump speak, just felt like it was giving me brain damage just listening to him and you get the very clear impression that the person you are listening to is a hostile crazy person with severe mental/emotional problems.


So, Kiyosaki claiming you make a profit the moment you buy Bitcoin, yeah that's insane so sounds about right for Kiyosaki.





No matter when you buy Bitcoin you're going to make a profit long term, but you're only in profit when the price is up. You're not in profit when you buy it. And obviously buying low gets you more bitcoin than buying higher, and therefore more profit. Ask anyone who has ever gotten into Bitcoin for the first time during a bull market and didn't know what they were doing and sold for a loss during the following bear market (I think that's probably most of us haha).

No, "we" don't know that because what's a dip? If bitcoin goes up by 10% and then down 5% is it a dip? If it's in a bull market where it went to 60k from 10k, like in 2021 and then dropped to 35k? Was that a dip that you were supposed to buy? Buy the dip is more of a joke than a legit strategy. What you should do is simply buy when the price is right for you. Each of us will have a different price target in mind for both buying and selling.

What many people don't realize is that you make profit even if somehow you're even on the price. For example if you bought bitcoin in 2021 at $40k
and now it's back at 40k, you made money by saving yourself from inflation. If you held fiat money you'd be at a loss by at least 15% in 3 years.

Haha I came here to pretty much say the same things you just said I read his book and of course it's very interesting for someone who doesn't know a lot about how money works, and after reading to book I started following him but now he's just an attention seeker, every single year he says there is the biggest crash in history coming in just a few months, and then other few months, and so on. I don't know if it's the age or if he desperately needs money, but you really need to take with a grain of salt whatever he says. Which is a pity because some advices are actually good.

There are no guarantees, there are only possibilities. Let's take the current scenario, as an example. It looks a very good moment to purchase Bitcoin, because we are coming from a bearish season to a halving event, which is well known for boosting Bitcoin's price to new ATH levels. Even though it can't be considered a guarantee, I believe it indicates a strong bullish market is ready to start, so I go for it, full of confidence, expecting a decent profit margin between 2024 and 2025 by investing in Bitcoin. I can't foresee the future with certain, but I'm pretty sure this is the most likely scenario to take place soon.

In this crypto market, that is the best you can do, because if you keep waiting for guarantees, you are actually not going to invest at anytime soon, just like many people who have been always complaining they missed the train or that they can't buy Bitcoin now because it's already too expensive and they should have bought it earlier.

About Robert Kiyosaki's thought, he is correct by meaning long term investments are more interesting than selling your BTCs always you have an opportunity to make cheap profit on short run, as by doing this, you are risking to not be able to purchase Bitcoin once again for a cheaper or same price you sold it for.

I can see that this guy's reputation isn't very good, and yeah, this phrase is hard to understand. When you're buying, of course, you're not making profit yet. And, if anything, I think that sell point is more important than buy point. Maybe you bought at $17k in 2017, which was a bad time to buy, for instance. But if you then sold at $60k, you've made a great profit, despite the initial mistake of buying near a bull run peak. Of course, it's better to buy the dip, but with Bitcoin, I don't think it's necessary. If you make a mistake when you buy, you just might need to wait longer.

If you consider the three phase of the market which are 1). Accumulation 2). Bear 3). Bull in these phases one is accumulation where you have to fill your bags with whatever coin you are interested in. Then you have to wait for the bear run to go away and bull run to come and in that bull run you have to make a profit and then again repeat the process. By doing this you can guarantee that you will make a profit.

Besides that, there is no way to time the market, and I have learned this from many senior members, even with full analysis, one might not be able to judge the market, that's why we all should have some plan ready to book our profits in this bull run. And investing in BTC does not make it loss prove, you can still make lose by investing in BTC, if you behave carelessly. I think Robert kiyaski is 100% right, but we gotta book some profit otherwise what are we investing for. So don't take his words for guaranteed that you should not book the profit and only should invest in it, because if you will not take the profit and do some productive work with it then why are you doing this all!

It could mean that in the bull run you sell your BTC and when you buy back you make sure the amount of BTC you got is more than the amount of BTC during the time you sold. Or you buy back the amount of BTC you sold and then the extra USD are your profit.

Not really sure what he meant but we can only assume. This old timer got onboard in the crypto market earlier he sure has experimented.

That positive difference between the purchase price and the sale price will be the profit. This is a classic scheme for any price speculation (not only with bitcoin).

And this uncle knows how to complicate everything, yeah.

So you can wait indefinitely, each time expecting that bitcoin will cost more in the next cycle (year).

What prevents from selling some BTC now and making a profit, and keeping some BTC for later?

The profit is obtained not from the purchase of bitcoin, but from the sale of bitcoin. Read my first sentence above.

You should also take into account inflation and the purchasing power of money. That is, if you bought bitcoin 5-10 years ago, then during this period, to date, the value of the current money is less than the last money. I am writing this because it is not enough just to calculate the difference between the purchase and sale prices, and also to index the value of money (received from the bitcoin's sale).

I guess what he's trying to say is that the moment you buy bitcoin, and start realizing it as a concept, you immediately alter your mindset for the better. I do agree that merely understanding Bitcoin somewhat enriches the ins of you, but let's be realistic here. You need capital, which means to not be living under a minimum wage with no savings.

He is not bankrupt, he is in debt!  

Jokes asides, man, I've just come this one conclusion. There's something wrong with people who repeatedly tell you how to get wealthy. Either their advice sucks, or they gain a lot from you; or sometimes both. If you're a badass rich man, why the hell do you try so hard to convince brokies you're right in YouTube shorts? Why do you choose to spend all this valuable time of yours in random podcasts? I don't want to sound absolute, maybe they have helped some, but I personally find these advice and talks obvious after a second thought.