Internet Pirate and Rich Dad Poor Dad Author say BUY BITCOIN

in #bitcoin6 years ago (edited)

Internet pirate Kim Dotcom is encouraging people to buy Bitcoin now before a global economic collapse of a similar but probably larger magnitude than the 2008 crisis -

"The [US] deficit is expected to hit $793 billion at the end of the year and approach $1 trillion in 2019. Interest payments to service the debt are forecast to become the fastest rising yearly expenditure. In 30 years, servicing the debt will outpace expenditures on defence and Social Security." (Source: https://www.ccn.com/kim-dotcom-invest-in-bitcoin-before-u-s-debt-spirals-out-of-control/)

Rich Dad Poor Dad author, Robert Kiyosaki, is also urging people to buy Bitcoins predicting, along the same lines as Dotcom, a massive economic collapse (Source: https://www.ccn.com/rich-dad-poor-dad-author-is-bullish-on-bitcoin-says-usd-is-a-scam/) Of course we have been hearing dire predictions of global economic collapse for some time now, particularly from the anarcho-capitalist community. And we should heed their warnings.

At time of writing, Bitcoin was $6,344 and has been wildly volatile over the recent weeks particularly because of regulatory obstructions to its use in the wider community. Although two days ago Bitcoin achieved 50% market capitalisation (ie, volumes of Bitcoin traded compared with other Alt-coins). Maybe instead of crapping our pants when Bitcoin prices drop we should instead be focusing on other indicators of its value - particularly its trading volumes and values compared with other cryptocurrencies (some of which are shitcoin).

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