Week of April 8, 2020
The tweet below brings up a powerful issue with money today. Millions of people across the world, and in this very country, are living paycheck to paycheck without any sort of savings.
It’s been said that up to half of American’s don’t even have a $400 emergency fund.
Why is that?
The biggest factor contributing to this disturbing reality is in the design of our money.
When new money is created so often and on such a large scale, its value decreases dramatically over time. This destroys any incentive for someone to save their money. If you do decide to save your money, you’re losing wealth slowly over time.
You have to be actively investing that money into an asset to have any chance of retaining the value of your hard-earned money. Ask yourself, how does the common person know what to invest in?
The simple answer is they don’t.
And if they don’t take action and invest their money, they’re losing wealth by natural design of our financial system.
Bitcoin fixes this.
Because bitcoin’s supply is limited, there is no risk of it being devalued by means of inflation in the future. Because of bitcoin’s limited supply, our entire mentality of saving money changes. If we were to hold onto a scarce asset like bitcoin and save it, we would very likely see our wealth grow over time.
The impact this has on our behavior and in our daily lives is not something to be understated.
Author Of “Rich Dad Poor Dad” Touts Precious Metals And Bitcoin
Robert Kiyosaki didn’t hold back on Twitter to over 1.3 million followers. One of the best selling personal finance books of all time, RDPD has reached over 30 million readers so far in its existence. Robert knows that the fiat savings model is broken also, and he’s telling anyone who will listen.
Coinme is turning seven in May. Looking back over those seven years, we wanted to reminisce some of our key milestones.