hes right about btc and gold, but wrong about cryptocurrencies in general imo.
I really like this guy
Gabriel Richardson
Other urls found in this thread:
blog.plan99.net
youtube.com
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Nathaniel Roberts
>predicts catastrophe every year.
>when 2008 happened, takes credit as predicting it (even though he didn't have the vision or intelligence to short the MBS market correctly)
>told people to sell stocks and buy gold in 2011 (those who listened missed out on the biggest bull run in American history)
>regardless of if gold goes up or down, he makes money
>regardless of if his shitty funds perform (they don't), he makes money
Yeah, seems like a great guy. Keep listening!
Bentley Gonzalez
hes right about the bubble popping and taking the usd down with it... its happening right now before our very eyes.
just because his predictions took longer than expected doesn't mean he was wrong, just wrong on the timing.
Noah Gray
he is not right about bitcoin
EVEYRTHING he says about bitcoin can be said about any asset being speculated
he understand NOTHING of the technology behind
the only way someone properly criticizes bitcoin is by criticizing Hashcash
if you can't criticize hashcash, you can't say anything about bitcoin
Angel Sullivan
>just because his predictions took longer than expected doesn't mean he was wrong, just wrong on the timing.
Being correct too early and being wrong are literally the same thing.
Also the DXY is at 92, not exactly a catastrophe yet. You are popping your champagne a bit early there my lad. Start worrying when it gets into the low 80s or high 70s.
Robert Walker
btc is old, outdated, slow, and expensive... its value comes from it being the first cryptocurrency and thats literally it, the market will eventually mature enough to realize there are other projects that are a better investment
writings on the wall
Hudson Lee
>countless shitcoins
>”decentralized oracles”
>JSON
>”toilet flushes”
Crypto was a good idea until scammers figured out to turn them into penny stock PnD
Jaxon Green
>writings on the wall
He said the same thing in 2011. 12,13,14,15,16,17,18,19,20.... oh yeah here we are...
I'm very bearish on equities now, I hold PMs, I even own mining stocks, but listening to Schiff is a waste of time because he's a permabear, and they always have the same story.
Benjamin Roberts
he has terrible timing
but he made a killing shorting the housing bubble and he did predict it
Jonathan Anderson
>slow, and expensive
that's a feature not a bug , dumbfuck
you understand nothing of the value it proposes lmao
that's why it goes up in value and you can't seem to wrap your head around it
Josiah Cox
FOSS projects are easy to understand for those who know how to read at elementary school level
do you read code before you buy any shitcoin?
I'm guessing you haven't read a single line in node.cpp in your life
that's why you think "crewpto is a scaaaam"
Liam Gomez
BTC is literally the only crypto I've invested in, I rarely even look at it, and I've probably done better than the vast majority of people that check their crypto daily.
Anthony Jackson
Didn't he 'predict' that the BRICS nations would put an end to American hegemony?
Oliver Nelson
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; especially when you have junior mining stocks, for example. 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.
youtube.com
As BTC is a scam, every other crypto is simply a scam-derivative.
Austin Morales
He has predicted tens of thousands of different collapses. Go make a list of everything that can go wrong and shill it for decades, then when one of them does you can say "LOOK I WAS RIGHT!" just like Peter
Camden Sanchez
Imagine predicting some crap is going to happen every year and being wrong a lot, but the 2 times you're right make you somehow a psychic and master at predictions.
The USA is going through some Communist revolution. This year is ripe for all those "psychics" and "analysts" with their "predictions".
But the only way crypto goes out the door is if we have a catastrophe on the global scale that makes much of the world lose access to internet and technology as a whole.
Cameron Harris
>He has predicted tens of thousands of different collapses. Go make a list of everything that can go wrong and shill it for decades, then when one of them does you can say "LOOK I WAS RIGHT!" just like Peter
I remember when the Putin shills kept saying BRICS was going to end US hegemony, funny how the same Putin shills promote Peter Schiff.
William Thompson
>The USA is going through some Communist revolution.
It isn't the first time the commies tried some insurrection in the US, though it's the first time in 40 years or so.
Levi Brown
BTC has its place. My friend from Venezuela smuggled his money out of the country before it hyperinflated using crypto. Pretty sweet to be able to cross a border with no money and get to the other side and collect it.
James Roberts
Yeah, it's a clown show. There is a legit argument for PMs right now, but there are a lot more respectable people making them that haven't spent the last 30 years jerking off to collapses.
Caleb Wilson
You could do that with BCH just as much as you could with BTC, which is one of the central problems with crypto. 5000 different ones to choose from. At best any one cryptocurrency serves a niche temporary purpose, but the ultimate destination of every cryptocurrency is zero.
Kevin Diaz
1933, President Franklin D. Roosevelt cut the dollar’s ties with gold, why should they return to it??
Gavin Gutierrez
What you are saying about Schiff is complete rubbish. Here is an accurate timeline:
Early 2000s. Schiff tells his clients to buy gold when it is at $250. As gold is now $1950, and outperformed the stock market for a decade, this was an excellent recommendation.
2006-2007. Schiff is one of the few people to predict the housing bubble. He is the only person willing to stick his head over the parapet and shout about it on television, day after day.
2011-2015. Gold collapses, and the U. S. economy manages to hobble on, because the Fed manages to convince everybody, lyingly, that it can raise interest-rates, and normalize its balance-sheet. Schiff knows that this is a lie, but the rest of the world doesn't believe him. He continues to stick to his principles.
2018. The stock market collapses 20% the instant the Fed tries to let interest-rates go up. Schiff is vindicated that the Fed can never let interest-rates go up again. Gold starts to soar, Fed is forced to re-start Q. E., as Schiff predicted.
2019. Repo crisis. System is shown to be completely broken.
2020. Whole system completely breaks down, trillions in money-printing needed to keep it alive, Q. E. infinity, all as Schiff predicted. Gold soaring over $2000, silver soaring from $19 to $29 in a matter of days; anybody who holds gold, silver, mining stocks, about to gain kingly wealth, anybody still in crypto, cash, or mainstream stocks about to get wiped out, in the greatest wealth transfer in human history, just as Schiff predicted. When everything comes tumbling down soon, Peter Schiff will be remembered as one of the most prophetic thinkers of our time.
Ryder Evans
, President Franklin D. Roosevelt cut the dollar’s ties with gold, why should they return to it??
This is not true. In 1933, Roosevelt confiscated people's gold in order to _devalue_ the dollar. Gold was only detatched from the dollar in 1971, under Nixon. Why will the U. S. go back to gold? Because the rest of the world will go back to gold. It was money for 5000 years. People only accepted the dollar as the world reserve-currency in the first place because they assumed it was backed by gold. The U. S. did a rug-pull in 1971, and the world has gone along with this state of affairs for a time. But all confidence in the dollar has been completely lost. Everybody can see now that the U. S. is irrevocably caught in a debt-trap, which is why they are dumping treasuries and hoarding gold as fast as they can.
Nathan Lee
Agreed.
Mason King
Christian Russell
Peter SCHIFF is D man. All crypto is dogshit ponzi meme
Camden Howard
imagine not knowing that blockchain and DLT is the future of technology. Hence why CBDC are on the verge of arriving and visa, mastercard etc. are champing at the bit
Kevin Jones
>he doesn't know
William Johnson
>Gold collapses, and the U. S. economy manages to hobble on, because the Fed manages to convince everybody, lyingly, that it can raise interest-rates, and normalize its balance-sheet. Schiff knows that this is a lie, but the rest of the world doesn't believe him. He continues to stick to his principles.
All those poor saps that he convinced to buy at ATH, and then told them to keep out of the stock market. My original post stands true, Peter is a permabear and there is nothing talented about saying everything is fucked constantly without having a timeline. Literally everyone here can do that.
Isaiah Thomas
I don't know if gold will win, but no non-government controlled currency will ever see mass adoption.
I really, truly do not understand why people have such a hard time understanding this. Deflationary, non-centrally-validated, pseudonymous currencies governed by some body of god-complex-having spergy libertarian dweebs (worse than merely being ungoverned), are anathema to the government.
So far they have mostly ignored it, but when the dollar is losing strength they will lash out to shut down any competition to remind people who's in control. The constitution does not and will not matter.
Coinbase will do as they are told, and swap everyone to dollars or digi-dollars. Business will get the memo that they are not to accept crypto or they will have problems. Normies will flee the space when it becomes obvious Uncle Sam is not amused anymore. Crypto will return to just being a thing you buy drugs with online and those speculating on mass adoption will get wiped out, deservedly.
Gold may or may not officially back a new currency after reset, but it will do its job of getting you through turbulent times. If you make leveraged plays (like miners), you can even make money with it.
Henry Bell
I like him too and have watched him for a decade. This is spot on, Peter's job is doom and gloom. He's right about a lot of things but over dramatizes plenty more. He was definitely spot on about China.