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I'm excited to tell you guys that we've hadthe one and only Peter Schiff here on the show! Peter has been critical about the traditional financial system for many years, he foresaw the financial crash of Peter is all about gold and doesn't see the value in Bitcoin.
We've talked about his past, peter schiff bitcoin debate system, gold, bitcoin, dollar crash etc. Was interesting, deep, knowledgable, and extremely fun! This is NOT financial advice. This is just my opinions. I am not responsible for any investment decisions that you choose to make. Thanks for your great work Ivan. You helped me a lot if it comes to learning about crypto from the technical side. I also like the new perspectives, interviews like that bring in. Peter Schiff is another interesting guest, bringing in arguments and thoughts, I haven't considered before.
To my surprise, he also had some reasonable knowledge about the crypto space but at the same time, he seems to lack the view of a bigger picture. The fact, that he seemed to be more interested to stand in for gold, than giving both sides a fair share of attention and interest, did not serve his credibility.
Although I have to agree on some points, some arguments are almost hilarious, peter schiff bitcoin debate how he insisted on pushing his agenda of getting back to the gold standard almost gave it a nostalgic touch. Although I spoke critical of Peter Schiff, he deserves respect and appreciation for sharing his point of view and taking time for this interview. It's good to engage with controversial viewpoints to arrive at what is more accurately The Truth.
As much as I like Peter Schiff's economic insights, I think he still hasn't understood crypto or Bitcoin. He seems to think that bitcoin is just about its codebase, which can be improved upon by other projects. But Bitcoin is also the adopter community, developer community which has some of the brightest minds in the worldmerchant adoption, exchanges, etc. True, I think the biggest obstacle for many is that crypto does not represent something peter schiff bitcoin debate unlike metal.
Not sure that it's rational to prioritize tangible peter schiff bitcoin debate over intangible - but still this bias persists. The history of money begins with governments creating it out of thin air This guy needs to read a book Money starts with fiat money about 5, years ago in the middle east There's no evidence of bartering in our history despite what economist speculate in their textbooks We went from fiat credit to coins around BC when formal armies started to be formed.
Yes and history has proven that every time there is a crisis that barter system makes you reconsider what the value of some goods are. Everything seems common and taken for granted until the music stops.
Haven't drank the kool aid but nothing wrong with some extra water, rice, beans, For more than Mesopotamia used credit that was fiat in nature They recorded debts on tally sticks which could be traded much like bonds currently are. The debt wasn't backed by a commodity. Debt began to be backed by a commodity when coinage began circulating.
Peter schiff bitcoin debate to people confusing the coin which was meant to reflect a magnitude of debt with the wealth it represented.
Both the original form of credit and the coinage that followed was fiat in nature. Free market money comes much later. Oh Peter, always see the dips coming but never know what to do to make a profit off of it In this day and age it's easy to say there's a crash commin'. It doesn't take a rocket scientist to see this fiat money system is an end game.
But still, markets can be irrational longer than you can stay solvent. I just get confused when they say a crash is coming after a crash peter schiff bitcoin debate came Keep up the great work. People will continue to criticize cryptos, bitcoin. Hope to see you in Anarchapulco ! Or maybe soon on Anarchast with jeff. I appreciate your recent shows between Schiff and Heart. A lot of good diverse viewpoints! I think we as a community should focus on why something that is intangible can have more value than something tangible.
It may be easier for younger people who are more fluent in digital spaces. However it's clear that older folks around Schiff's generation baby boomers in USA still have deep skepticism of intangible assets.
My rebuttal to the objection that bitcoin is intangible and unbacked is this: The bitcoin network is tangible because it is comprised of scarce resources like hardware, energy and human capital. This is what we need to convince people peter schiff bitcoin debate.
No, you cannot eat a bitcoin, and it won't keep you warm in the winter, but what you're buying is the freedom to transact in a trustless manner. The biggest hurdle for the mainstream is the education gap and the paradigm shift required to take the leap of faith by taking personal responsibility.
We're so used to having our hands held by the financial system. However I see a place for both fiat and crypto to coexist. True good points steadytoken.
The freedom to transact in a trustless environment should have a dynamic pricing mechanism. Why dont we just make a crypto that is 1: Have all the pluses of gold throught the ages without the minuses of it being heavy and peter schiff bitcoin debate to transfer by having a peter schiff bitcoin debate equivalent. Paper money used to be an IOU for gold.
We need blockchain based currency that is with you in your pocket and able to send to anyone in the world by a click. The video is a little bit bitcoin vs gold and i just peter schiff bitcoin debate see why we cant take the best of both and make the next leap in the evolution of money! He interrupted you every time you where trying to make a point. To me he was just trying to push his agenda for the adoption of gold as a standard.
You could have used a lot of his arguments against his position for instance:. Gold has intrinsic value because it has utility. For someone peter schiff bitcoin debate claims to follow austrian economics this argument falls on it's face for the record I think that austrian economics gets some things wrong but that is a argument peter schiff bitcoin debate another day.
I guess one of the biggest advantages gold and Bitcoin have is that they peter schiff bitcoin debate limited and therefor a big contrast to the never ending cycle of bubbles fiat currencies are peter schiff bitcoin debate over and over again. Right now imo the new bubble will push precious metals to the moon. Some crypto's will share that same fate. The fiat money system is an end game that's for sure. Too bad some gold bugs and btc maximalists don't fit in the same Elevator.
Maybe once they will exit peaceful at the same floor. I wrote somewhat of a rebuttal to his most recent video from his Facebook page. You can check it it here. The problem with gold is it's not being used as a currency. Crypto is but on a small scale replacing in the dollar is what will end a lot of economic slavery. Hello Ivan, You are doing very good job in educating people with different aspects of Crypto by interviewing people having different opinions and diverse perspectives.
I think it is very important to listen and interact with opposing views and broaden the understanding of these new technology.
I am a believer in Bitcoin, but Peter schiff bitcoin debate like hearing the opposing arguments. Also, there is not one global government unless you watch too much Alex Jones and if many countries banned crypto it could become an competitive advantage for some countries not to ban it. Also, peter schiff bitcoin debate I buy Bitcoin, I am ethically on the right side because BTC miners still have intact lungs unless they smoke pan everyday Peter is an interesting guy.
I think his call in was impressive. Before I became a cryptocurrency investor, I listened to his podcasts. I still respect him, but I don't know why he is so absolutely sure Bitcoin will not survive. I'm in it peter schiff bitcoin debate the long run because I believe in the good it will do for society and because I think it is a good investment, but it does unnerve me when intelligent investors say it will go to zero.
I do think it is a good idea for long term peter schiff bitcoin debate to take back some profit and leave the rest in. I have taken back some of my initial investment to protect myself. However, the rest I'm leaving in for the long run. I plan to use it someday. It is true, I can't peter schiff bitcoin debate Bitcoin now transaction fees and speed. I know that will be fixed though. At the same time, Peter often says maybe some other cryptocurrency will take over Bitcoin.
As far as I am concerned, fine.
