How to hide all boot text & blinking cursor on Raspberry Pi

In order to hide all the boot messages (including the terminal) and the blinking cursor on the Raspberry Pi, edit /boot/cmdline.txt and first change

console=tty1

to

console=tty3

After that, add the following to the end of the line:

 loglevel=3 quiet logo.nologo vt.global_cursor_default=0

Now you can reboot and enjoy the clutter-free experience.