Bitcoin vs Gold #2 with Peter Schiff & Greg Foss

SHOW NOTES:

On this interview, I host a debate between gold bug Peter Schiff and Bitcoin Strategist Greg Foss. We focus on the worth of bitcoin & gold, threat administration & portfolio allocations and the way bitcoin helps oppressed folks all over the world.

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TIMESTAMPS:
00:00:00 Introduction
00:03:10 Opening remarks
00:26:58 Assymetric threat
00:37:18 Bitcoin as cash
00:57:42 Community worth
01:14:26 Backed by math
01:25:16 Widespread floor?

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****

“I nonetheless view Bitcoin as being the perfect uneven return alternative I’ve seen in 32 years of managing threat. That doesn’t imply I don’t personal gold.”
— Greg Foss

Location: Remotely
Date: Friday third September
Firm: Euro Pacific Asset Administration & Validus Energy Corp
Function: CEO and Chief World Strategist & Bitcoin Strategist

Gold has been used as cash for hundreds of years, however as soon as the US severed all remaining ties with the Gold Normal in 1971 and moved to our present fiat system, gold’s use case shifted. Gold has grow to be a secure haven, retailer of worth, and insurance coverage in opposition to what many gold bugs think about a damaged fiat financial system.

Bitcoin is taken into account by many to be digital gold however is barely 12 years previous. Nonetheless, in that point, it has grown right into a close to trillion-dollar asset and can be a retailer of worth however is decentralised and censorship-resistant. Many bitcoiners consider it’s only a matter of time till bitcoin replaces gold because the world’s main retailer of worth.

Gold and bitcoin have some apparent similarities. They’re each scarce belongings and shops of worth that provide an opt-out of government-issued fiat currencies.

Likewise, gold bugs and bitcoiners share an identical mindset of their perception that the present fiat system is damaged and we want a sound cash different.

For some, although, it is not gold and bitcoin; it is gold vs bitcoin. Peter Schiff is firmly on this camp, and since 2012, he has often derided bitcoin, claiming that it has no intrinsic worth and is ultimately heading to zero.

On this interview, I host a debate between gold bug Peter Schiff and Bitcoin Strategist Greg Foss. We focus on the worth of bitcoin & gold, threat administration & portfolio allocations and the way bitcoin helps oppressed folks all over the world.