The rapid proliferation of artificial intelligence (AI) models in recent years is contributing to the escalating problem of personal data harvesting, or “grabbing,” by major tech companies, Calanthia Mei, the co-founder of the data marketplace Masa, has argued. Mei, a Web3 builder and investor, asserts that this personal data harvesting frequently occurs without the consent […]
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Robert Kiyosaki: Fiat Money Isn’t Safe, Investors Must Protect Themselves From Central Bankers
Rich Dad Poor Dad author Robert Kiyosaki has cautioned that fiat money is not safe, emphasizing that central banks are buying gold to save themselves. He urged investors to safeguard themselves against central bankers and reiterated his advice to invest in gold, silver, and bitcoin.
Is Fiat Money Safe? Robert Kiyosaki Says ‘Hell No’
The author of Rich Dad Poor Dad, Robert Kiyosaki, has urged investors to protect themselves from central bankers, emphasizing that fiat money is not safe. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.
The famous author wrote on X Saturday:
Central banks like Fed are buying gold. Does this mean fiat money is safe? Hell no!
“Central bankers are saving themselves from their own incompetence, that’s why they buy gold. Their job is to protect the banks not you. Get smart. Protect yourself from central bankers: Save gold, silver, bitcoin,” Kiyosaki advised.
Central banks around the world maintained their appetite for gold in the third quarter, with purchases totaling 337 metric tons, according to the World Gold Council. This surge in buying has propelled year-to-date purchases to a record high of 800 metric tons.
Kiyosaki has consistently issued warnings regarding fiat currencies, referring to them as “fake money.” In contrast, he calls gold and silver “God’s money” and considers bitcoin as “people’s money.” In September, he said “crypto is the future,” noting that fiat money is “toast.” He has urged investors to get into gold, silver, and bitcoin as soon as possible.
The renowned author has also repeatedly warned about the demise of the U.S. dollar. He blames the Federal Reserve for causing inflation and collapsing the U.S. economy. In July, he predicted that the end of the USD is near. In April, he said America is dying, warning of the impending death of the U.S. dollar. Moreover, he expects BTC to become priceless when the Fed starts issuing a central bank digital currency (CBDC).
Do you agree with Rich Dad Poor Dad author Robert Kiyosaki that fiat money is not safe? Let us know in the comments section below.
The Young Turks Embarrass Themselves Trying To Discuss Crypto Regulation
Why do these Young Turks ladies dare to speak about a subject as complex as cryptocurrencies without doing ANY research? In the following video, both Ana Kasparian and Francesca Fiorentini read a New York Times article interpreting it as fact, while giving the most inane commentary you could imagine. To make things worse, they try to be sarcastic and humorous and fail completely at that too.
Related Reading | Crypto Needs Regulation If It’s Going To Survive, Says SEC Boss
Their main thesis is that crypto lobbyists are influencing bills and legislation while at the same time trying to keep the industry deregulated. Is that what’s happening? Doesn’t that thesis contradicts itself? Let’s go through the Young Turks ladies’ points one by one to see if we can understand them better. But first, the video:
What Do The Young Turks Think They’re Saying?
To express coherent ideas while recording live is hard. So, to cut the Young Turks ladies some slack, let’s start with the text. The YouTube information box starts as follows:
“Crypto lobbies and lobbyists are gaining ground in their fight to profit from bills drafted with state legislators to keep the cryptocurrency market free of regulation, leading to an increase in profits for crypto executives and lobbyists.”
If a bill passes, that’s regulation. Isn’t that what those lobbyists are pushing? Regulation? Also, isn’t everyone in the United States looking to increase profits? It seems like the Young Turks are protesting about the lobbyists dictating what regulation looks like, but that framing wouldn’t drive the outrage clicks.
Later on, the info box says:
“Florida is the most recent state to adopt crypto-friendly legislation as the state recently signed a law that would make it much easier to trade and hold cryptocurrencies in the state in an attempt to draw investment into the industry in Florida.”
What’s the problem here, exactly? Regions all over the world are executing this geographical arbitrage play. Is it illegal? NO.
The info box closes with:
“Across the nation, crypto executives and lobbyists are helping to draft bills to benefit the fast-growing industry, then pushing lawmakers to adopt these made-to-order laws, before moving rapidly to profit from the legislative victories.”
Yeah, that’s what lobbyists do. Every industry under the sun is trying to influence regulation in its favor. Is it right? Maybe not, but it’s as common as bread. Crypto people didn’t create lobbying.
What Do Ana And Francesca Think They’re Saying?
The Young Turks’ bosses did these women dirty by putting them in this position. It seems like they ordered a hit piece about one of the most complex subjects around without providing any training whatsoever. Do The Young Turks’ bosses have training themselves? Because it seems like they’re as confused as the ladies.
The video starts with Ana stating the confusing thesis, crypto lobbyists are drafting laws to make sure that the industry remains deregulated? If they’re drafting laws, they’re looking for regulation, but ok. Then, she criticizes Joe Biden’s now-famous Executive Order by saying it’s just the commission of studies. Well, it’s a complex subject, and the Young Turks could benefit from commissioning studies themselves.
Then, Ana says that the laws are being left up to each State. Isn’t the United States a constitutional federal republic? Federal means that the States are sovereign. After that comes the terrible “Tales From The Crypt-o” title card, in which they use a tweet from an NFT owner who got hacked as some kind of proof that the crypto space is spooky and treacherous.
Then, the New York Times articulates what the Young Turks couldn’t. According to it, a law presented in Florida eliminates “a threat from a law intended to curb money laundering.” So, what they’re actually against is that the crypto industry is getting rid of AML laws? They’re not being too successful, then, because, as far as we can tell, every exchange in the US has AML procedures in place.
ETH price chart on FTX | Source: ETH/USD on TradingView.com
The Young Turks Think That Cryptocurrencies Are Good For Criminals
It’s Francesca’s turn, and, with the eloquence of a first-time podcaster, she says that cryptocurrencies are a new way to “do corruption,” to “steal money that is not yours,” and for “paying 17-year-olds for sex.” A ten-minute read on cryptocurrencies would’ve told the Young Turks that the blockchain is an immutable ledger. There’s not a worse medium to finance the crimes that Francesca describes.
Then, Ana insists that financial institutions need to be regulated. That’s exactly what the lobbyist are trying to accomplish, but ok. Then, she says “You should want protection. You should want to ensure that cryptocurrencies aren’t used for money laundering.” Perfect, but the people should also want banks not to be used for money laundering, and they’re not getting that either. The only way to stop money laundering is for the financial authorities to do their job and stop it. Common citizens shouldn’t suffer.
Related Reading | Dubai World Trade Centre To Become A Crypto Hub For Regulation
Near the end, Francesca qualifies the whole industry as a slow-moving con or scam. As a contrasting opinion, we might qualify the industry as the most exciting development in finance in decades. And as a job-generating juggernaut that’s saving lives worldwide. Then, Francesca predicts that, in a few years, we’re going to be inundated with documentaries about the different cases in which people lost their savings and whatnot. She might be right about that. There’s too much money involved and the average citizen is as uninformed as the Young Turks.
Do your own research and commission your own studies so that you won’t become a victim. As in the traditional financial markets, laws aren’t going to protect you from scams. Information and due diligence will.
Featured Image: Ana and Francesca, screenshot from the video | Charts by TradingView
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Interview With The GensoKishi Project On How They Reinvented Themselves On The Blockchain
2021 has been the year of DeFi, NFTs, the Metaverse, and GameFi, these trends leverage the power of blockchain in an attempt to provide users with new experiences. Together they have the potential to transform billion-dollar industries and integrate them with the digital economy.
The first big game to break into the mainstream was Axie Infinity with an innovative model that allows players to receive rewards for the time, effort, and creativity that are put into their games, called Play-To-Earn (P2E).
Despite its recent popularity, a lot of projects have been working on integrating NFTs, the Metaverse, and creating a unique experience for players around the world. In that sense, we sat down with the team behind the popular game Elemental Knights that recently launched GensoKishi a play-to-earn and GameFi model that will revamp its mechanics and player experience.
Available on Switch, PlayStation 4, iPhone, and Android, GensoKishi is the first step into a digital and P2E ecosystem supported by the blockchain and a revolution that could advance the progress of Web3 into the hands of the people. This is what they told us.
The Metaverse is one of the more ambitious ideas throughout the blockchain industry. How have you managed to be this far ahead of the trend?
Yes, as you said metaverse is not easy and takes time to build. For us, GENSOKISHI ONLINE -META WORLD-, is based on a 13 year old game titled as “Elemental Knights” and has accumulated 8 million downloads. It won the “Game Star Award Taiwan” in 2012 and we have 25k active monthly users. In-game messages are opened 80,000 times a day.
We think we’ve gotten this far because we provide so much freedom for our users. This is an MMORPG so users will tag-team with other players to clear missions and find rare items. We have multiple worlds and continents where they can explore. And you may imagine, this will be the base of the metaverse. With communities=users, then GameFi/P2E with Web3.0 and NFT to build a metaverse with our project. We are ready for it.
How does the in-game economy and user retention impact token value, and how do you address these challenges?
Yes like above I mentioned, the game has 13 years experience on user community building and branding. We’d like to invite all users including the old fans and new coming users from the crypto world. There are two tokens we are going to use at GENSOKISHI. We keep the governance token (MV) valuable and also the price controlling of in-game crypto: ROND is important too. We keep the “economics” ecosystem running well in the game just like in real world to keep it steady. So that our users could enjoy anything besides the RPG adventuring in GENSOKISHI world.
When will you do the LAND sale? What is LAND?
Thanks for asking. The LAND, which is a piece of MAP in the GENSOKISHI world, as we announced, is acquirable only if you have enough MV token staked, by an auction event to own. A LAND is a certain area in the game you could do anything you want on it. Like building your own castle(UGC function), put your favorite monsters to beat other players, or use it as an advertisement for you or your company. Other players if they want to get your rare NFTs they have to pay some ROND token as a ticket into your LAND then start playing. It will be the owners’ space so everything is possible.
Can you tell us more about what ‘UGC to earn’ means?
Per the words User Generated Content, UGC is an object such as weapons/items/equipment or NPC (Non Player Characters) that users with some MV token staked could have the rights to build on their own. This would be an entirely new concept for a GameFi game. You could just enjoy playing the game with the UGC or make it more valuable and then sell it on the NFT markets. This is another P2E (Play to Earn) style of GENSOKISHI.
Are there any IP or major companies entering the UGC space?
Simply answering your questions, YES!
We already had some IP collaboration in Elemental Knights, and will definitely do the same or even more IP/Anime/Enterprises collaboration on the UGC part. It will be the most interesting and profitable model.
Can you give us more details about the game and tell us about its world?
First of all, it’s a free to play game. Register using your social media account, and boom, you can start playing instantly. No need for Metamask or crypto knowledge to start playing.
And the QUALITY. We are not starting from scratch, we have an established base. To achieve the level of quality we already have on hand, would take at least million to make, in perhaps a span of 5 years.
And like I mentioned: The game design is top-notch, and when we say users can generate their own content (UGC), we really mean it. The freedom and detail in which you can generate content is what we’ve reached after these years of brushing up Elemental Knights.
You could tag with many friends from all over the world, beat the super monsters to get some really RARE NFT, then have it on sale on the market. And there are also many worlds waiting for users to adventure, to find the treasure (NF) or seek LAND to really own it. Furthermore, as a metaverse project, it’s a free world. You could just make friends and enjoy the events or create events.
What does MV token give to owners? Can you tell a bit about it’s design?
MV token is our governance token, built on the Polygon network. Users will need to stake a certain amount of tokens to generate their own unique original items, characters, worlds, and castles. As we’re making this game into a DAO, voting rights will be given to holders as well to decide in-game policies and the game’s ultimate future. You can also stake it to earn in-game tokens ROND.
Why did you choose the Polygon network to base your game on?
I myself am also enjoying some other GameFi on Polygon and felt the possibility: Speed and low-gas fee. Nowadays ETH is the most popular blockchain but with the high gas fee it’s not suitable for gaming. But people still love to trade on ETH, so as L2 of ETH, Polygon resolved the issues of our GameFi team. Also Polygon has the most active users on the market, so that’s the main reason we choose Polygon as our partner. (Also we had built the official partnership with Polygon Studio.)
What are your grand future plans for 2022?
Thanks for asking. First I want to share that we are going to have TrustPad as a launchpad platform partner running IDO in Jan/2022, and also we’ll be releasing the 1st SUPER RARE NFT auction. Except the IDO we aim for MV token listing on some CEX/DEX, for more awareness and liquidity. Also for the UGC feature and LAND auction we’ll be releasing after the official launch in Aug/2022 but if possible would like to make it happen even earlier.
For global users we’re working hard on everything that Elemental Knights never did. This would be very exciting and I hope you could join us.
Please explain in detail the partnership with TrustPad and DefF launchpad association.
We are really excited and thankful for the partnership. We had a great conversation with Trustpad and they are willing to help GENSOKISHI gain more awareness in the EU/UK area, with the powerful Defi launchpad association which is organized by lots of DeFi/GameFi launchpad platforms to help do the marketing. I never thought of such a great partnership but really appreciate it. We are going to work harder on the project. With LOVE.
Is there anything else the community should know?
GENSOKISHI ONLINE -META WORLD-‘s Whitelist Lottery, which ran until December 19, was a huge success with over 100K entries.
As a gesture of appreciation to the partnership with TrustPad and to the many people who participated in the original Whitelist lottery, GENSOKISHI has announced a second Whitelist lottery with a total value of ,000.
The Whitelist lottery will end before the launch pad. The period during which you can participate in the lottery starts on December 22, 21:00 (GMT+8) and ends until the launchpad announcement. Everyone is encouraged to enter the second Whitelist lottery by clicking here.
Bitcoin is Going Mainstream, Why The Doubters Will Be Kicking Themselves
According to the website 99bitcoins.com, to date, Bitcoin has died a total of 341 times. The most recent report of Bitcoin’s demise came from The Felder Report, less than two weeks ago, in which former Bear Stearns analyst Jesse Felder wrote:
“Ponzi schemes can work out great for early adopters. But that doesn’t make bitcoin, in any shape or form, a good investment or even a store of value, especially for those late to the game. And, for that reason, I can’t get behind it the way I would get behind what I perceive to be uncommon value in the stock market or a true store of value like gold.”
At the time of publication, BTC was days away from making a new all-time high. This shows that, no matter what the price is doing, Bitcoin will forever be an elaborate scam for the hardline skeptics out there.
Source: BTCUSDT on TradingView.com
Then there are those who, in light of recent price moves, have reconsidered their position. In some instances, this led to a greater degree of receptivity towards cryptocurrency.
A recent example of this was when billionaire hedge fund manager Ray Dalio conceded that he might be missing something about Bitcoin, as it hit k.
Also, JPMorgan CEO Jamie Dimon made no secret of his hostility towards Bitcoin. While he stops short of endorsing it, he has at least backpedaled on his “Bitcoin is a fraud” comment.
Based on the bell-curve pattern of Bitcoin deaths by year, with few reports in 2010, peaking in 2017 with 124 reports of death, and then falling to just 7 in 2020, it’s fair to say that, over time, the arguments put forward by BTC skeptics have lost steam.
For those who remain skeptical, what will it take to change their mind?
2020 Is The Year of Bitcoin
A 170% surge fueled by institutional buyers has forced many Bitcoin skeptics to think again. In fact, 2020 will go down as a pivotal year for the leading cryptocurrency.
Crypto advocate Mike Novogratz said this is because of the extraordinary times we are living in. Right now, investors at all levels grow increasingly distrustful of fiat money.
In the past, it was fringe members of society, the cypherpunks, and the tech nerds, saying this. But now, in 2020, with respected public listed firms ratifying Bitcoin, the message carries much more weight.
As Novogratz put it, the momentum of the past 11 years has hit escape velocity.
So much so that Peter Roffman, the Global Head of Innovation and Strategy at S&P Dow Jones Indices., recently announced a cryptocurrency index, coming in 2021.
“With digital assets such as cryptocurrencies becoming a rapidly emerging asset class, the time is right for independent, reliable and user-friendly benchmarks.”
Crypto purists will argue that this was motivated by fear of becoming irrelevant. But the fact remains that cryptocurrency is going mainstream.
Expectations are that the additional buy pressure will lead to further price spikes for Bitcoin.
While outlandish price predictions of 0k, or 0k, or even million seem like pie in the sky from where we currently stand, there will come a price when even the most ardent skeptic will have to yield.
The sooner that happens, the sooner we can all move forward.