>spends 10 minutes every episode of his podcast talking about how bitcoin and crypto are a massive worthless scam
what the fuck is his problem?
Spends 10 minutes every episode of his podcast talking about how bitcoin and crypto are a massive worthless scam
Julian Smith
Jaxson Green
Who is this?
Brody Reyes
peter schiff
Jason Clark
He's mad because it's sucking up money from his boomer rocks. If crypto didn't exist gold would prob be 10k an ounce rn
Brayden Ortiz
This
Gold bugs gonna bug
Lincoln Walker
dis fagt caused da gfc nigga
Brandon Rodriguez
The guy is all in on gold
It’s part of his “brand”
Bitcoin is a threat to his income
If he doesn’t embrace it eventually, he will go broke, so whatever, jokes on him
Luke Hall
das racist
James Miller
Schiff understands that the only use-case of Bitcoin is to serve as an alternative to gold. People speculate on Bitcoin because they have the delusional hope that it will become the new system of money, and go 100x. But either Bitcoin or gold is going to win; you can't have both. And if it is gold which becomes the new system of money after the reset, and it obviously will, which is why central banks are hoarding it, then nobody will be stupid enough to trade their gold for Bitcoin. Schiff doesn't want people to lose everything when the reset takes place. He is especially insistent because the Bitcoin bubble has already burst, so it isn't even intelligent to speculate on it any more; when you have junior mining stocks, for example, or even pump-and-dump fads like Link, if you do still want to mess about with crypto. BTC is a range-bound dead end at this point. Only Twitter moonboys and ignorant boomers are keeping it alive.
Bitcoin is only here as we transition from the old system of money into the new. People buy it as a hedge against inflation. Once fiat is gone, Bitcoin serves no purpose.
Schiff could make a far better case against Bitcoin if he knew more about it. I doubt he's aware quite how useless it is. Even if the LN, which is perpetually "two years away" was widely implemented, BTC would only be usable by 0.1% of the world's population. BTC requires second-layer solutions which track and trace everything you do. Hence it doesn't even serve the purpose of privacy. This is why Mike Hearn left the project in disgust.
blog.plan99.net
BTC looks even worse when you consider the fact that Satoshi is almost certainly Adam Back, the head of Blockstream. It would make perfect sense to me that crypto was designed as a scam from the beginning; as another way, besides the COMEX, to suppress the price of gold, by deluding people away from real money.
Jaxon Carter
BTC market-cap is minuscule. 160 billion. That of gold is ten trillion. Nobody even cares about Bitcoin. It's niche. And BTC is 5x larger than Ethereum, the second-largest crypto; to say nothing of the other thousands of cryptos, which will die just as quickly as they were born.
Jason Powell
He is the ultimate boomer maximalist.
He talks alot of sense about 95% of things, but he is is just anti btc because he is pro gold.
Evan Fisher
>boomer yelling at the sky
Gee, I dunno, user.
Alexander Evans
>sending value around the world in a couple hours is worthless
Ok, boomer
Evan Lewis
>BTC market-cap is minuscule. 160 billion. That of gold is ten trillion. Nobody even cares about Bitcoin. It's niche. And BTC is 5x larger than Ethereum, the second-largest crypto; to say nothing of the other thousands of cryptos, which will die just as quickly as they were born.
this user understands. Like, when i meet with my advisors at goldman, we talk btc and they straight say 2 things. first they don't have a mechanism to buy sell(which is a non answer, they could make a relationship to do it very easily). Second is that the market is to small, there is no enough liquidity, its to prone to being manipulated, blah blah blah. All that stuff has something that is real truth in it. They also say they believe if it gets to big it will get regulated, ie banks just won't transact with cryto exchanges. we will see i guess.
Leo Ortiz
>Satoshi is almost certainly Adam Back
HAHAHAHAHHAAHAHAHAHHAHAHHAHAHAHAHAHAAHHAHAHAHAHAHAHAAHHAAHHAHAHAHAAHHA
Brandon Miller
Read Mike Hearn's post. You can't use BTC as a currency. When it got to $15,000, you had $100-fees and 3-day waiting times. That's why Roger Ver sold all his coins and became an advocate for BCH. Why is it always boomers who are so quick to accuse others of being boomers? Who but a boomer would buy BTC at this point? It's a joke even within the crypto community.
Camden Parker
You know what defines every evolutionary step in the history of money? Each new form of money was more practical than the one before. Bitcoin is far more practical than gold. Deal.
Brandon Flores
He's trying to FUD and buy low.
Angel Nguyen
>People speculate on Bitcoin because they have the delusional hope that it will become the new system of money
the same can be said about the gold standard retards
for me, its cowrie shells, cant print it and its biodegradeable, the ultimate deflationary reserve currency, cowrie shells have been reserve currency for 300 years, thats longer than the dollar, get smart and shell up boi
Jayden Sanders
He’s a Jew so he’s going to shill against anything that puts his kike banker friends in jeopardy.
Christopher Bell
>Bitcoin is far more practical than gold.
No, it's not. It's an unusable joke. Again, read Mike Hearn's post. All the information you could possibly need is right here if you will take ten minutes to learn. Crypto itself is bad money, because if you get dementia, memory-loss, if there is theft, a hack, a natural disaster, if somebody tortures you for your keys, etc., you can get wiped out in an instant. But BTC in particular is terrible. At least somebody could make an intelligent argument for BCH or Monero.
blog.plan99.net
You can use a gold-backed credit card right this instant to buy a cup of coffee with gold. Look into GoldMoney, which used to be called BitGold. Gold can be digitized, and broken into just as small fragments as a Bitcoin into satoshis.
youtube.com
The only reason why GoldMoney, which used to be called BitGold, has not been successful, is government hamstringing and regulation. Andrew Maguire is trying to do something similar to GoldMoney with his Kinesis Project. At any rate, once we return to a gold standard, currencies themselves will be backed by (i. e. convertible into) gold, and banking systems will continue to function just as they do today.
Zachary Perry
>Bitcoin is only here as we transition from the old system of money into the new. People buy it as a hedge against inflation. Once fiat is gone, Bitcoin serves no purpose.
You're absolutely a dumb nigger you know that right? Crypto will be THE currency of the future. Gold and silver however is the hedge and will ONLY become the way of future payments if shit hits the fan and we somehow go and live in an post apocalyptic society, but guess whatfaggot if thats the case youre a whole lot richer with a can of beans a pack of cigarettes and a roll of toilet paper than you are with 10kg gold
Nolan Murphy
He may be too early, but he's always right.
Noah Brooks
Lmao is that you Peter? Bitcoin will eventually scale and become the one true currency. Deal with it. Every year brings more adoption and advancements. We now have BTC satellites and soon free global internet. It's all happening with or without you. If you don't want to be traced then use Montero. As if an open ledger is any worse in terms of privacy than using credit cards and bank accounts. What a weak fucking argument.
Owen Nelson
>in a couple hours
Why not 0.1s?
Brody Jackson
You realize it's the best time to get in right? Do you really want to buy when it's 500k and trillions in marketcap?
It's "niche" until it isn't.
Noah Stewart
Notice the level of substance and intelligence in these replies. This is usually what you get when you try to argue with Bitcoin fanatics. I'm only trying to appeal to intelligent by-standers here; I know I'll never convince moonboys, and I don't even want to do so.
Ethan Cruz
But that's about the only thing he's right on. Rest of the time he's just complaining US is in a bubble and will crash, so everyone should buy gold. That's been his schiff for the last decade.
Michael Torres
goldbugs must felt lonely
Samuel Morris
Massive buy signal
Charles Adams
Could not have said it any better sir.
Matthew Long
>you can now store crypto at banks because banks just do what the customers demand of them
Gabriel Scott
paxg already exists....
Thomas Hughes
you had 3 years to buy LINK faggot
Caleb Morgan
>Montero
William Reyes