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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.

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24 Comments

  1. Peter is so up his own ass it’s hard to hear. When the conversation starts with “you can’t buy coffee with Bitcoin” I already know who is more researched. Not saying he is stupid, his vested interests are just palpable.

  2. okay, so a year ago gold was $1,876/oz & $37,000/BTC.

    Today gold is $1,860/oz & only & $20,500/BTC.

    Price definitely does NOT determine value. I’d say gold holds value better.

  3. See the challenge is gold is a commodity used in aerospace, dentistry, machinery, robotics & jewelry. I can’t use my Bitcoin for any of these things— but I can have Celcius pause & restrict everything I “own”. The power goes out & my BTC is gone but my gold & silver will be in my safe ready to use as a medium of exchange as they have been used since before Christ walked the earth.

  4. Peter is the most clueless mofo I ever had the displeasure to hear speaking. Peter…with ALL investments new money has to come in in order for investors to profit. By your definition all investments are ponzi like. Get a fkn clue dude!

  5. Schiff is doubting Thomas, how nonsensical to get energy from bitcoin, it uses renewable energy (wasted energy) to produce Bitcoin, you have to think in reverse. Actually quite funny to listen to.

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