Robert Kiyosaki, the author of the international bestseller 'Rich Dad, Poor Dad,' has just embraced Bitcoin. Lesson 5. SAVE MONEY: RU NUTS? Why save money when QE FED counterfeiting is printing trillions of fake dollars-$82 billion a month to $125 billion a day? Why save when ZIRP, zero interest policy pays losers zero? Save gold-god’s money or Bitcoin-people’s money.
In his new tweet, he calls the leading cryptocurrency 'people's money' while slamming the U.S. Federal Reserve for printing trillions of fake dollars.
Saving cash is 'nuts'
Back in January, billionaire Ray Dalio made headlines by bluntly calling cash 'trash'. Kiyosaki appears to be on the same page.
He greatly encourages his followers to not hoard 'fake dollars' printed by the Fed, which recently started unlimited quantitative easing on top of lowering interest rates to virtually zero.
Kiyosaki channels Galaxy Digital CEO Mike Novogratz who recently quipped that fiat money is now growing on threes in 2020.
Gold is 'God's money'
Apart from Bitcoin (BTC), Kiyosaki also recommends buying gold, reiterating his opinion that precious metals are 'God's money.' In one of his interviews, he called gold 'a hedge against the stupidy of elites.'
Bitcoin is often regarded as 'digital gold.' As reported by U.Today, Kiyosaki aptly noted that millennials were more interested in buying crypto than bulky rocks.
Since 2013, Bitcoin miners have seen a twenty-fold increase in mining revenue.
According to data from Statista global bitcoin mining revenue breached the $5 billion mark in 2019—marking a near 20 times increase in just five years. But will the uptrend continue following the Bitcoin halving?
Bitcoin mining revenue has kept growing nearly every year. In 2013, the mining revenue worldwide stood at $260 million. One year on, in 2014, the figure grew to $700 million, the very same year that mining firm BitFury raised 20 million for a new ASIC mining chip
By the time 2017 rolled around, industry revenue reached $3.19 billion—one year after the Bitcoin halving in 2016. Despite the monolithic crash in early 2018, the industry went on to see an even bigger $5.26 billion in revenue.
Yet with the Bitcoin halving just around the corner—and prices largely down across the board—there could be a change afoot
Cryptocurrency exchange company Binance is launching a crypto mining pool.
On Tuesday, Russian news outlet Coinlife first reported the exchange’s plan to build a new bitcoin mining pool. The move was later confirmed by Binance CEO Changpeng Zhao in a Wednesday tweet.
Additionally, Zhao announced that there will be a series of new additions to Binance’s finance product line-up including staking, savings, and loans.
Sources told Coinlife that Binance has already hired specialists to work on the new mining pool. The new hires include those who previously worked for Bitmain as the latter firm reportedly planned to carry out another round of layoff. The new pool, according to Coinlife , is expected to launch in q2 2020.
Notably, both OKex and Huobi launched their mining pools last year, in August and September, respectively.
The total volume for non-custodial or decentralized exchanges (DEXs) hit an all-time high of $668 million in March, according to Dune Analytics.
That figure is 53% higher compared to the data from February, the previous all-time high month for volumes, Dune Analytics said on Wednesday. The data provider noted that this is the first time that DEX volumes are rising on a falling ether (ETH) price.
Dune Analytics said the increased volumes could be a sign that DEXs are "solving a real problem" and are "not just a toy anymore.”
Notably, the total volume of non-custodial exchanges hit a 9-month low last December. Yet, the share of volume traded on these exchanges was higher when compared to the amount traded on the centralized exchanges, as The Block reported at the time.
dYdX, Uniswap, and KyberSwap are currently leading the non-custodial exchanges space, per data from Dune Analytics.
Mike Novogratz is convinced that when central banks make money grow on trees, then it's time to buy Bitcoin. 'Money doesn't grow on trees' is a popular expression people using from a long time. It means that money is a limited resource and encourages people to put in a significant effort in order to obtain it. However, this fable apparently doesn't apply to the U.S. Federal Reserve who unleashed unlimited liquidity to save the ailing global economy from the coronavirus-driven fallout.
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