@@brandondavis4598 It may not have the intrinsic value but fiat is currency established as money by the government. So in what way is his argument flawed on that?
@@brandondavis4598 Wasn't asking if it was sound and Peter actually argues against printing more money. The point is currency regulated by government does have value.
@@KA-vs7nl Exactly, you would think the literal reincarnation of Leon Trotsky would recognize that overconfidence in a theoretically beneficial system might have unintended and unforeseen consequences that might end badly.
Yeah, I love that Peter brings up some of the major flaws with cryptocurrencies. Cryptos are not gold. However, I strongly disagree that they can't be intrinsically valuable. They solve some major problems for society, that give them real value. Until they reach a critical mass of liquidity for the average user, they won't be mainstream, and their value has a time limit. If they do reach that critical mass, then I don't think they will ever lose their utility. They'll provide too much financial autonomy if they succeed. The utility tokens especially, have a bright future. Ultimately, if you want safety, choose precious metals. If you accept a higher risk tolerance, but want faster returns over a shorter period of time, judicious choices in cryptocurrencies are great. That said, there's a lot of less risky ways to grow your wealth just as fast, if you study the market. I love a couple cryptos, but I'm not buying right now.
@@vitalis9343 lol this laughs in the face of "safety". in a poor economy people want food, not gold. and crypto is so easy to steal. the average person is ignorant and doesnt realize how it works or even that the bitcoin fees are actually winning for the corporations becaise those are the only real thing to come out of this
Imagine being in an economic discussion with people like Schiff and arguing that gold has no real value... thats some hard core trolling or desperate denial going on there.
But he didn't argue that. He said that the value for things like jewelery, medicine, and electronics is a small fraction of it's speculative value. Maybe that's not true but that's what he actually said.
It's difficult, complex and costly to mine gold. Gold is not unlimited, there is a finite supply. There are many things you can do with gold. (Oh, almost forgot, all those statements I just made...are also true of bitcoin).... :). Schiff is a clever man but he doesn't understand why bitcoin has value are actually the same reasons gold does!
@@bearnecessiteespolio5359 What can you do with Bitcoin except for bartership/ hedging purposes. Gold is turned into actual things but what can you do w/ bitcoin?
That gives validity to what he is about to say. Imagine everyone in the financial sector looking at you and talking to you as if you are an idiot, because you warned of the housing bubble. Then it actually happens? Man, bringing that up is a big middle finger to all those who doubted.
Johny Domingo wel he did, while every one else thought he was crazy. Kind of like now with a different situation. People would rather transfer their finds into glorified digital IOUs that only have value if we BELIEVE it does, rather than physical tangible currency like say idk gold.
@@gsssgfdgsdf6312 Schiff let him finish almost every point, this dude would cut him off because he couldn’t stand to get proven wrong. That’s the vibe I got, ofc it’s all theoretical so either one could be right but Schiff’s logic made more sense to me
It's not true that money has always started as a commodity with value (IE metal). For example, before metal coins there were societies that used seashells as part of their trade system. Scarcity is what matters, not the utility value of the material itself. If it wasn't scarcity that was valuable then you couldn't explain how fiat currencies work.
Great video, trading come with a lot of benefits And I have just bought my first house through it. As a beginner I was scared of loosing my savings but I’m glad I took the bold step that is now favoring me.
Okay but is not luck, is all about having good investment plans most of all trading with a trust worthy expert. Watching professional trading videos and most especially connecting with the right person the digital world is full of in unreal people I met some of them during my success journey. I felt same way when I started especially when you use demo account you might be winning but when you put in real money you start losing I understand and I pass through it all. I’m very happy I’m profitable now.
@@AaronD313 you really think he is hurting in his business? His name is his promotion. Just having the name Peter Schiff gets people to Google search him and then see EPC
@@jessebowles5632 no not hurting, but part of any business is promotion. You won't see him give any interview without his business in the top corner of the screen
@@AaronD313 thats because he doesn't need new clients. If Peter Schiff needed more people to invest in EPC, then he would make a commercial or a billboard but he doesn't need to do that. They say a low ball figure is that EPC is worth 250million dollars. Peter isn't poor, he doesn't have problems making money. He's doing OK for himself so why would he need to promote his company? He's had it for 20+ years, he doesn't need any new clients dude
@@jessebowles5632 Why do we still see ads for Coke and Pepsi? Why would Peter do that then , put the name of his business on the screen, and continue to remind us he has a business? It's FREE advertising. Why wouldn't he do it.
Yes because Peter Schiff is the Bitcoin and technology expert, right? Schifftards are hilarious. Sitting here doubting web 3.0 is coming and that internet money is the next big economy.
Indrid Cold just because you believe in a different point of view than someone you should still let someone finish their thoughts. Schiff always lets the person finish out of respect even though he disagrees. Bitchcoin fans get so worked up that anyone who disagrees with them they just cuss them out and degrade the other person without coming back with a knowledgeable answer as to why that person is wrong. I always like to hear what people have to say if I agree or not it’s in my best interest to look at things from every angle.
slayerguitar blockchain saves too much money to not grow. Google and apple berated blockchain until they realized they were going to get passed up if they did not start their own. Look at them now. Schiff is doing the same thing because he is scared bitcoin will take demand from the gold he owns. Clearly
Bitcoin is not anonymous, its the most transparent monetary ever invented. Once a person gives you their bitcoin address you can use chain analysis to see every transaction that they have ever made.
Peter you have the opportunity of your life ,you said bitcoin is gonna crash and it has no value .so you can short bitcoin now as there is bitcoin future contracts
Bit coin can stay irrational longer than you can stay liquid. Dangerous game. Puts are better, but can still make you broke depending on how committed you are.
I feel bad whenever someone doesn't let Peter speak because they don't believe in his views. It's okay to not agree but let him share his thoughts and actually try to listen and understand him.
Tackleqb If thats why bitcoin is a good thing then thats why gold and silver is a good thing. Why risk ur money while if bitcoin makes money real again gold and silver would move way the hell up as well with zero risk put on you with bitcoin.
@@JimJamJuicy He's wrong? Where? Bitcoin is still an entirely speculative "asset" with zero intrinsic value. If you want to be a bagholder, that's your prerogative.
@@dylancatlett6580 it beats gold in every area. The fact that he can’t see that all value is subjective shows how little he knows of Austrian economics. And I’m not even a bag holder
@@JimJamJuicy If you’re not a bagholder, you’re knowingly arguing for digital Monopoly money-a much worse, much more undignified look. Bitcoin, unlike gold, is not tangible and has no real-world utility. Just for those reasons alone, your *lie* about BTC beating gold is already disproven. Its value is completely driven by speculation. It’s not a store of value because the price is given to fluctuation so much of the time. Bitcoin like all the other popular cryptocurrencies is just a testbed for CBDC features. They get people used to the idea of transacting with online tokens, and different ideas can be tested with different cryptocurrencies. Once central banks roll out the CBDCs, cryptos will be legislated out of existence. They rely on electricity and the internet to really even exist, and it’s the powers that be who control that. Don’t argue that Bitcoin et al can still survive on “just a few generators”, because at that point popular demand for it will have collapsed due to fear of the government and due to widespread lack of access causing a wake-up call to the uselessness of BTC. Wake up. Or just ignore what I said, and eat ze bugs and shop online with your favorite CBDC, which is totally better than gold.
The reason Peter is right at least on Bitcoin having no value is based on the fact that it isn't able to scale to a real world use case. Other digital assets such a as XRP can scale in an adopted way for everyday use. There isn't any need for 3000 different currencies and most cryptos or digital assets are either securities or an elastic form of commodities with security similarities or some sort of bond.
Both sides have valid points..... One thing that isn't talked about is how JP Morgan physically buys silver quietly and over a long period of time then also shorts the hell out of silver to artificially suppress the price.
The interviewer is a disgrace. He allowed the pro Bitcoin to talk over everyone else. You need to give people a chance to speak. Peter Shiff was continually talked over. Like his view or not, you need to give people a chance to put their view across otherwise what’s the point.
Hahaha you’re right. I bet most commenters here doesn’t know or didn’t use bitcoin. All they notice is about this person but they can’t even repute his argument.
I hate videos like this where there's a guy who interrupts loudly each and every time a point contrary to what he is trying to sell is brought up. In this case, it was the worm with the beard. This just tells me that bitcoin is a first-class hustle to be avoided. In the end, the suckers who have them will get nothing but apologies and cold comfort.
DICKSON PFISTHUR there is manupaltion, add high tx fee which are becoming visible now to the public. Bitcoin will not be the currency that we will use. Like internet company’s in the 90’s, AOL had problems too. But you would not wanna miss the chance to invest in amazon, RUclips or facebook. If you dont understand blockchain technologyt then dont invest in crypto and miss the boat. There will be enough people who will drive the tech and get rich of it.
Your bad spelling makes it difficult to understand what you wrote. I assume you are referring to "manipulation" and "tax" (or maybe "transaction fee"??). I made an effort to invest $1,000 in bitcoin when it was about $1,000. Because I live outside of the USA, the parties I contacted would not allow me to transact with them even though I have a US bank account (I'm also American). I also noticed ridiculous Bid-Ask spreads which would have cost me $500 to buy (price was quoted at around $1500). To sell would have netted me about $500. So I gave up on the idea completely and decided it was nothing but a giant ripoff. I will not invest in any crypto currencies. Soon the sovereign nations, particularly those with aggressive central banks, will impose oppressive regulations and taxes on it that will destroy the anonymity. It started as a haven for criminals and will end as a giant scam. Just remember what happened with Mt. Gox. They're still trying to figure it out. But the money is gone and losers didn't even get an apology.
DICKSON PFISTHUR you can attack me on my Grammar, I dont care, It is not my native language. If it makes you feel smarter, good for you. You dont understand crypto that much is clear. If you think crypto is big because it being a safe haven, that shows you have 0 understanding of blockchain technology and its potential. Its fine leave the space, enough smart people who do realise its potential and are gonna profit from it.
@daren darensky jajajajaa. Thank you. I'll my money on real estate, shares, gold, silver. Ask any muslim or jewish what do they do with their money. They are knowledge regarding money. Believe me mate.
Not only is that hipster dude annoying, he’s extremely rude. When I was a broker with Schwab, I talked to geeks like this all the time...they never made money...
lololol just wait till tax season rolls around and the number of millionaires in the us increases by huge percent. It's funny because 99% of brokers aren't even qualified to manage money. We'll see what happens buddy.
you have to define "geek" tho because most hustlers are sitting behind a computer now. More money online. Why would you want to wear a suite and brown nose your boss when 50% of the world has access to the internet. Brokers rely on market conditions and fees? The brokers work for people with...Money.
Rude? there was one guy with a high pitched voice who kept interjecting and trying to speak over the other panelists. Guess which Peter I'm talking about.
I think if BitCoin was locked at $1000 it would be taken more seriously as a currency. It looks to me that most people are buying it because they hope someone will buy it from them at a later date at a higher price. Surely that's just gambling?
John Bai they're both right, Bitcoin is worthless in the sense that it is fiat as peter said, we need a Crypto backed by Gold although that would likely be made illegal by the powers that be.
Don't be John. Schiff is a salesman. He is selling his company and his ego. He does not sell cryptocurrencies. When money goes to crypto, he losses opportunity. That's it. He is arrogant in this interview. Not cool.
NOT BOT bitcoin is not fiat numpty. Learn what fiat means, lol. Also, cryptocurrencies only have value under certain scenarios just like gold. If you were stranded on an island with a $1billion dollars worth of gold, it would be absolutely worthless to you. Intrinsic value arguments are dumb.
At the end of the day what is bitcoin backed by? When you compare bitcoin to fiat currency they have one similarity. Fiat currency is backed by governments, bitcoin is backed by demand, but in each case there is no intrinsic value.. Governments are stable and so their currency is more or less stable but demand isn't stable and neither is bitcoin.. This is why bitcoin is purely speculative. Gold is NOT speculative and is very dependable, even more than governments, because it has INTRINSIC value. The fact that there is some digital setup to keep track of bitcoin transactions does negate the fact that the only thing that adds any "value" to bitcoin is hype.
Right because he said it would crash lol Dude i predicted it would crash and i didnt have to be an expert to come to that conclusion. Nothing is automatically stable from the start, stability is achieved as a result of volatility.
metro2002 Please tell us how money works? Let's see you contribute something that will totally blow our minds in awe and make us finally understand the fundamental idea behind money that we could not grasp. Perhaps it is people like you and Peter who do not fully grasp the underlying technology behind Blockchain and why it already has changed the world and the way "money works"
First of all, you blew my mind. I did not know that was the thing about how money works... now it is all so clear to me! Without your explanation, I would not have been able to google how money works in the fiat currency system. Second of all, you still do not understand the entire purpose of cryptocurrencies and blockchain technology behind them. The purpose of bitcoin was to be a decentralized currency that needed no backing and no central government to give it value. Guess what, people have already assigned it a value, and it is not backed by any authority. It is a true currency based on the blockchain ledger, that is what "backs" it, and it works. It may not be perfect, it may have scalability issues, but it is still currency and is the driving force behind the entire crypto revolution. It is not the end-all be-all, it is just the very first implementation of blockchain technology, which is again the real innovation. It may end up dead and not used, but it already sparked the third major revolution since the industrial revolution and internet revolution. There are other cryptocurrencies besides bitcoin, and many of them are looking to solve real-world problems using blockchain technology. The ones that do will indeed change the way everything you know and understand works. They are projects led by incredibly smart teams of developers that are reimagining the world. You may not care to understand them, but when the "bubble" pops, the crypto projects that actually solve the problems they are looking to solve and that are looking to create value will become the future Apple, Google, Amazon, Netflixes of the world. You will literally not understand how the world functioned before them, much like the internet. This is why the crypto-frenzy is both a bubble and a real revolution that will push us forward even with many stragglers who don't understand the technology trying to resist.
metro2002 okay, why don't you tell us what backs gold? What gives it value? Why did it used to be worth 2000 an ounce but now is worth almost half that? Why do people pay so much for diamonds? What value do they have? Why do you pay for food? What value do you assign it? Get the point? Value is determined by demand. If people give bitcoin value, it doesn't matter if it's 20000 one day and 10000 the next. The value exists. You can call it unicorn shit or flower powder, but the technology is real and your comments add nothing to the discussion.
Yes, Gold has applications in electronics as an excellent conductor and is used as jewelry, but that doesn't back gold or assign it the value that it has in the market, the only thing that assigns a value to anything is demand. The point of my argument is not even to say that gold is useless or valueless, it is to say that it is pretty much the same thing as cryptocurrencies. If a crypto has a value assigned to it, it can be a currency. Like I said before, many of these cryptos do more than act as a currency, they have actual application to real world problems, much more useful than gold as a component or as jewelry.
Peter like Buffet is clueless about this thing. the guy does not understand how things are working now. blockchain technology is one of the best inventions ever made recently. 2020 it still didn't crash, I'm still waiting bitcoin to crash like he said
That's the exact same thing people said when it hit ATH $1 in 2009, then $10, then $100, then $1000now over $10,000 and will continue to say at $100,000, $1,000,000...and so on. Bitcoin growth is not linear, it's exponential. What most people crying "Bitcoin is a bubble!" don't know is that bitcoin is a decentralized system with limited supply currency and of exponential growth. So is not farfetched to say that it will be at 100,000 by 2020, since it came from less than $1 to $10,000 in less than 10 years, and it hasn't even hit the bottom part of the exponential 'S-Curve' of technology adoption: www.business-planning-for-managers.com/main-courses/marketing-sales/marketing/the-adoption-curve/
Where's the moderator in this debate? People keep talking over their guests... The dark bearded kid has a disproportionately loud audio,so he can just black out anyone else trying to speak... -What a mess!
I assumed that was the point. It is clear the bias this show has. Invite the 2 guest into the studio who are for it. And keep the 2 who are sceptical via internet. So they can be pushed out.
He really hammers it home heavily that the government can track and trace every transaction back to you, then denies that the whole bitcoin thing was supposed to be "anonymous" to begin with. It's double speak.
00O0O00O0O00O0O - There is a lot of money on the table, so sales men are selling. I don't agree with all of Schiff's opinions on Bitcoin. But I think his position that over-hyping it will be counter productive if there is a huge correction and people come to see it as a scam. This could lead to a environment where more governments would feel pressure to target the space.
00O0O00O0O00O0O - I don't understand the, "literally nothing" claim. If nothing else, it is a novel, secure way to transfer value. The argument is over how much value. The scam is when those on the inside sucker in those from the outside. If all parties involved were on the same page, it would be phenomenally usefull and valuable.
9:40 what a genius. House value is an asset and not insured by the FDIC. People who defaulted didn't even own their homes, they were failing to pay for it. Debt isn't FDIC insured. Investments have risk attached and are not FDIC insured.
Peter is absolutely right.. Bitcoin or any criptocurrency for that matter is nothing more than a speculative tool that people buy hoping to sell at a bigger price than they paid for in the first place.
chrisem401 Hindsight is 2020. It's easy to say I'm "losing money" when you compare my investments performances with crypto currencies. But the downside is far to great for me to gamble my wealth away. Some people enjoy highly speculative bets, I don't. I like investing in non retail investments. BTL and serviced accommodation, farms (so far avocado and pistachios) then gold and silver. I know some people like fine art but it's just not for me.
discodench What has Peter said about crypto that's dishonest? He's told people only the truth, including the massive returns that have been made by bitcoin millionaires etc.
He's giving his opinions, which are highly subjective and slanted against crypto since he stands to lose money if crypto gets big and stays big. it's called a conflict of interest.
Peter is right... As an engineer, I recognize that BlockChain technology is not remotely scalable. If it were to become a ubiquitous platform, it would be complete unusable. The performance is almost completely relative to the scale.
You own a portion of social adoption... THEE only value this thing that COULD be defensible vs infinite supply of new coins -- still a risk but defensible and could endure til the next better one knocks the reign. Beyond that, it's a big fat obvious zero. The fact these stupid fucks can't just say that is beyond hilarious (they being the entire world that's debating this). No one. Not heard ONE person say this.
When you own a piece of paper like a dollar that governments can continuously print what sort of value do you actually own? Other than the fact I can wipe my ass with it or use it as a fire starter kit.. it only has value because people believe it has value. Same with cryptos. However there is more potential value in them compared to fiat because you can build dapps on them and they have real world use..
Peter met his match. Everything is bad but Gold. If it’s not gold/silver, it’s bad. Peter doesn’t want regulation but them complains Bitcoin is not regulated, then came back and flip flopped saying it is too regulated. That bearded guy got him good.
I've watch a number of videos/tutorials about Bitcoin as it's a hot topic at the moment. The thing that really surprised me was that it costs $30-$40 for one transaction. Wow! So how can Bitcoin be taken seriously as a potential source of exchange?
Bitcoin is basically software, does Microsoft Windows have intrinsic value or Google or Apple app store... they're just 0s and 1s but it's what you do with it that matters, how you use it. Bitcoin protocol coupled with it's decentralized network is where the value lies. Bitcoin isn't a "coin" per se it's a software technology.
Peter just can't conceive a world where the people would rather own a system, rather than a system own them. That is the value Peter, the system itself.
Pablokolter If the value is in the system then why hype up Bitcoin specifically and not all blockchain technology? The answer is people like Peter V want to get rich off the bubble and need to keep the mania going to do so.
March 7, 2022 😱 Peter Schiff was right!!! Bitcoin is not like gold!! It’s not a hedge against inflation!! People are running to gold not bitcoin when the economy is struggling!!! 😱😱😱💀💀💀
It seems that his job. He's a lobbyist for bitcoin according to the introduction. Hard to take a paid spokesperson at face value, particularly when he keeps interrupting with straw-man arguments and mischaracterizations of other panelists' comments.
Peter Schiff is Wrong on this one. and he knows but he has to protect his bussiness that is in gold ;) i bet thathe also owns bitcoin because he is not stupid
alll these crypo-coins some are infinitely divisible, arguably all of them are infinitely divisible therefore effectively if there are infinite amounts of divisible units... each of these worthless coins are infinitely useless now probably. why the hell does no one think that way.
Peter Schiff is 100% right but it doesn't mean you can't make money trading cryptos. I do it but I know it's an absolute bubble by every definition of the word.
So good to see Peter Schiff back in 2017 telling these guys that Bitcoin will crash and now almost one year later crypto and bitcoin are down 80% YTD, I would love to see that hipster explaining himself now
@@SuperHtownswag lol. Peter has been saying Bitcoin will crash since it was $20, it's been in and out of several crashes since, but still massively up overall.
Lmao! This was so obviously one-sided. How many times did this foolish host tell Peter to "hold on for a moment", but never once said the same for every time these guys cut Peter off. Gimme a break. 🙄
The bitcoin camp was actually more persuasive and interesting than the luddites camp. Because of the persuasiveness, host got pulled in towards the bitcoin camp. It might have appeared as one sided because of this.
@@NoobieToob I don't know why I'm bothering to respond to you, but I guess I couldn't help but notice you don't quite understand the purpose of a host/moderator in a debate. The moderator is meant to provide neutral, unbiased oversight of a debate, while facilitating equal time for each side to conduct their argument and/or provide rebuttal. The moderator does NOT decide what's most compelling and furthermore does not reward a side with extra time. That is literally bias, which is a no-no for hosts/noderators. There's your free education for the day, as I am fully aware your generation's education system is complete shit.
@@romeomk510 Moderators are human after all, and despite all the training will never be fully, robotically neutral. Hence, despite being trained to be unbiased, the overall persuasiveness of the bitcoin camp seems to have won over the host. Indeed. The luddites should brush up and refine their arguments instead of regurgitating old, refuted arguments all the time.
the Bitcoin casino should have been shut down by Governments long ago. It amazes me this has happened after the internet stocks crime. Bond market about to implode. The dollar is history. I put my gold on gold. It has value because its popular, hilarious.
And you don't think that it would would be solved by the next iteration adopted by the market? Yes, bitcoin has a lot of flaws, but you think this is it?
Sound Money Report in the end that is speculation. cryptocurrency is the future. BTC, is a currency first and foremost. I don’t see what’s the big deal. You are either in or out. There are the believers and nonbelievers. I am a believer.
Sound Money Report again, that’s just your view and you could be completely wrong. you are either a believer or non believer. people in the US will realize what this crypto currency stuff is really about, and will understand that it’s not going away. It is my belief that these people didn’t start crypto currency to make money, they started it to see something become revolutionary, something that can possibly change everyone’s lives in a positive way. ✌🏾Again I respect your views, but if all is what your saying is true then good for you. But if you are wrong then the coin didn’t flip your way. ✌🏾
I respect Peter for keeping this video up on his channel.
Not sure if you meant he was wrong or what but he’s making sense, just because it went up from December to March doesn’t mean a thing.
I respect Sokrates for keeping his comment up on this video.
@@naturelevi8751 Sure, son. (Edit clown deleted his own comment 🤣)
How’s it working out? Lok
@@BlackMambo5 Good burn. The comment stays up though.
The hipster is obnoxious
These people don't like hearing the truth, kinda like with the subprime bubble. A bunch of pretentious wankers.
All hipsters are.
Maybe the banks are waiting: to crash BitCoin so-hard that it plows a wake of despair for the future of crafty speculative currencies.
They only need to make it hurt really bad: once.
Also far from a bitcoin expert
They let Schiff talk for 5 seconds before interrupting him and changing the basis of the question because everything he says makes sense
Peters arguments are always inherently flawed because he attributes value to fiat which has no value
The guy in glasses debate stuff using volume. not facts.
@@brandondavis4598 It may not have the intrinsic value but fiat is currency established as money by the government. So in what way is his argument flawed on that?
@@brucemorrison3301 well they just printed 2 trillion dollars out of thin air, does that seem like a sound currency to you?
@@brandondavis4598 Wasn't asking if it was sound and Peter actually argues against printing more money. The point is currency regulated by government does have value.
“It is difficult to get a man to understand something, when his salary depends on his not understanding it.”
Except Schiff runs a gold company...
@@ericmanget4280 That's exactly my point... but maybe I don't understand what you mean?
@@Psyagnostic Ahh thought you were referring to the bitcoin activists who are equally culpable
Who are you talking about?
@@GuwJuice_PttP Peter Schiff
Videos like this will be golden in 5-10 years lol
Chris Salley right? That Trotskyite valkenbergh will look extremely foolish
@Don Jon LOL
@@KA-vs7nl Exactly, you would think the literal reincarnation of Leon Trotsky would recognize that overconfidence in a theoretically beneficial system might have unintended and unforeseen consequences that might end badly.
Yeah, I love that Peter brings up some of the major flaws with cryptocurrencies. Cryptos are not gold. However, I strongly disagree that they can't be intrinsically valuable. They solve some major problems for society, that give them real value. Until they reach a critical mass of liquidity for the average user, they won't be mainstream, and their value has a time limit. If they do reach that critical mass, then I don't think they will ever lose their utility. They'll provide too much financial autonomy if they succeed.
The utility tokens especially, have a bright future. Ultimately, if you want safety, choose precious metals. If you accept a higher risk tolerance, but want faster returns over a shorter period of time, judicious choices in cryptocurrencies are great. That said, there's a lot of less risky ways to grow your wealth just as fast, if you study the market. I love a couple cryptos, but I'm not buying right now.
@@vitalis9343 lol this laughs in the face of "safety".
in a poor economy people want food, not gold.
and crypto is so easy to steal. the average person is ignorant and doesnt realize how it works or even that the bitcoin fees are actually winning for the corporations becaise those are the only real thing to come out of this
"The trend is your friend, until it's not!"
Imagine being in an economic discussion with people like Schiff and arguing that gold has no real value... thats some hard core trolling or desperate denial going on there.
6:06 Is a perfect example of how not to win a debate: saying a bad argument, being smug, and then turning your back to the person you just refuted.
gold has value, several electronics, jewellery etc are made using it.
gold has value.
But he didn't argue that. He said that the value for things like jewelery, medicine, and electronics is a small fraction of it's speculative value. Maybe that's not true but that's what he actually said.
It's difficult, complex and costly to mine gold. Gold is not unlimited, there is a finite supply. There are many things you can do with gold. (Oh, almost forgot, all those statements I just made...are also true of bitcoin).... :). Schiff is a clever man but he doesn't understand why bitcoin has value are actually the same reasons gold does!
@@bearnecessiteespolio5359 What can you do with Bitcoin except for bartership/ hedging purposes. Gold is turned into actual things but what can you do w/ bitcoin?
“I predicted the housing market crash.” Every Peter Schiff interview ever. Lol.
He actually didn't mention it.
That gives validity to what he is about to say. Imagine everyone in the financial sector looking at you and talking to you as if you are an idiot, because you warned of the housing bubble. Then it actually happens? Man, bringing that up is a big middle finger to all those who doubted.
Antoine Winzenried yeah he did
So did a billion other people.
Peter has a lot of bitcoin
Johny Domingo wel he did, while every one else thought he was crazy. Kind of like now with a different situation. People would rather transfer their finds into glorified digital IOUs that only have value if we BELIEVE it does, rather than physical tangible currency like say idk gold.
The last time the media didnt respect peter schiff and didnt give him time to respond, it didnt end very well for them
I love it how they started lowering the volume for Peter Schiff's mic lmao
I really liked his comments in the background 🤣
That guy with the glasses didn't know when to shut up
or imbecil shiff should for 1x listen and finally learn
You whinge on about all this, but...
....does anyone listen in these?
He has so much bitcoin up his ass, it’s working him like a puppet 😂
@@gsssgfdgsdf6312 Schiff let him finish almost every point, this dude would cut him off because he couldn’t stand to get proven wrong. That’s the vibe I got, ofc it’s all theoretical so either one could be right but Schiff’s logic made more sense to me
@@pippyanne2580 no, he knows more on bitcoin subject than him
Would anyone object to me smacking the skinny dude with th beard?
no he shuts them down so easily
Uh only if i can have a piece too lol
I veto. It could give us a bad image , gentlemen.
I'll help you do it
or imbecil shiff should for 1x listen and finally learn
Simple conclusion: Blockchain Technology is GOOD. Speculative coin is BAD.
This aged well
@@alexschettino5061 so because the bubble is still perpetuating he must be wrong overall right?! Come on
@@LudwigVonFriedman yeah the 13 year long bubble that institutions are adopting
@@alexschettino5061 your uneducated
@@felixedwards2153 see you at 100k now that Fortune 500 companies are pumping my bags clown
25:18 “There will be continuous demand” Oil in 2020: let me introduce myself
It's not true that money has always started as a commodity with value (IE metal). For example, before metal coins there were societies that used seashells as part of their trade system. Scarcity is what matters, not the utility value of the material itself. If it wasn't scarcity that was valuable then you couldn't explain how fiat currencies work.
Warren Buffet's golden rule: Never invest in anything you don't understand.
Great video, trading come with a lot of benefits And I have just bought my first house through it. As a beginner I was scared of loosing my savings but I’m glad I took the bold step that is now favoring me.
Congratulations 🍾
I will love to be your friend dear as well as sharing some i dears which you're benefiting.
Okay but is not luck, is all about having good investment plans most of all trading with a trust worthy expert.
Watching professional trading videos and most especially connecting with the right person the digital world is full of in unreal people I met some of them during my success journey. I felt same way when I started especially when you use demo account you might be winning but when you put in real money you start losing I understand and I pass through it all. I’m very happy I’m profitable now.
I can relate to all you said because I am facing similar thing right now. Congratulations I wish you more success.
Hey how good are your earnings I will like to get some insights into trading thank you.
THEY LOWERED PETER'S MICROPHONE VOLUME!!!
Peter Schiff, stop doing Call in debates and Call in interviews. You needa be on the floor to get your words in
Then he won't be able to promote his business in the upper right corner
@@AaronD313 you really think he is hurting in his business? His name is his promotion. Just having the name Peter Schiff gets people to Google search him and then see EPC
@@jessebowles5632 no not hurting, but part of any business is promotion. You won't see him give any interview without his business in the top corner of the screen
@@AaronD313 thats because he doesn't need new clients. If Peter Schiff needed more people to invest in EPC, then he would make a commercial or a billboard but he doesn't need to do that. They say a low ball figure is that EPC is worth 250million dollars.
Peter isn't poor, he doesn't have problems making money. He's doing OK for himself so why would he need to promote his company? He's had it for 20+ years, he doesn't need any new clients dude
@@jessebowles5632 Why do we still see ads for Coke and Pepsi? Why would Peter do that then , put the name of his business on the screen, and continue to remind us he has a business? It's FREE advertising. Why wouldn't he do it.
Peter V might be the most annoying person I have listened too...
BullRun 72 agreed! i wanted to slap my cellphone watching this trash interrupt!
Yes because Peter Schiff is the Bitcoin and technology expert, right? Schifftards are hilarious. Sitting here doubting web 3.0 is coming and that internet money is the next big economy.
Indrid Cold just because you believe in a different point of view than someone you should still let someone finish their thoughts. Schiff always lets the person finish out of respect even though he disagrees. Bitchcoin fans get so worked up that anyone who disagrees with them they just cuss them out and degrade the other person without coming back with a knowledgeable answer as to why that person is wrong. I always like to hear what people have to say if I agree or not it’s in my best interest to look at things from every angle.
As usual, the host let the wrong guy talk more.
or imbecil shiff should for 1x listen and finally learn
gss sgfdgsdf imbecile* appears you are the imbecile, just throwing insults without any form of argument.
slayerguitar blockchain saves too much money to not grow. Google and apple berated blockchain until they realized they were going to get passed up if they did not start their own. Look at them now. Schiff is doing the same thing because he is scared bitcoin will take demand from the gold he owns. Clearly
@@wmbasscommanders5855 Shiff? u mispronounced Shill, Shillf's goldo bags 2heavy, crybaby
You sure about that? Lol
Bitcoin is not anonymous, its the most transparent monetary ever invented. Once a person gives you their bitcoin address you can use chain analysis to see every transaction that they have ever made.
Peter you have the opportunity of your life ,you said bitcoin is gonna crash and it has no value .so you can short bitcoin now as there is bitcoin future contracts
If I had more money I would buy some put options on bitcoin
Bit coin can stay irrational longer than you can stay liquid. Dangerous game. Puts are better, but can still make you broke depending on how committed you are.
Hosam Alobaid why would he short and lose since bitcoin can go to 100k with irrational investors?
Lol he believe bitcoin will go to zero so he has the golden opportunity to short it now but I bet he would do ,sorry Peter
Why would he ? He’s openly said it could go much much higher
I feel bad whenever someone doesn't let Peter speak because they don't believe in his views. It's okay to not agree but let him share his thoughts and actually try to listen and understand him.
Hard work, frugality and savings are what makes nations great. Not debt, consumption and speculation.
this is why bitcoin is a good thing
Tackleqb If thats why bitcoin is a good thing then thats why gold and silver is a good thing. Why risk ur money while if bitcoin makes money real again gold and silver would move way the hell up as well with zero risk put on you with bitcoin.
This never gets old! Peter is awesome.
How long does he have to be wrong for until he’s not awesome?
@@JimJamJuicy He's wrong? Where? Bitcoin is still an entirely speculative "asset" with zero intrinsic value. If you want to be a bagholder, that's your prerogative.
@@dylancatlett6580 it beats gold in every area. The fact that he can’t see that all value is subjective shows how little he knows of Austrian economics. And I’m not even a bag holder
@@JimJamJuicy If you’re not a bagholder, you’re knowingly arguing for digital Monopoly money-a much worse, much more undignified look.
Bitcoin, unlike gold, is not tangible and has no real-world utility. Just for those reasons alone, your *lie* about BTC beating gold is already disproven. Its value is completely driven by speculation. It’s not a store of value because the price is given to fluctuation so much of the time.
Bitcoin like all the other popular cryptocurrencies is just a testbed for CBDC features. They get people used to the idea of transacting with online tokens, and different ideas can be tested with different cryptocurrencies. Once central banks roll out the CBDCs, cryptos will be legislated out of existence. They rely on electricity and the internet to really even exist, and it’s the powers that be who control that. Don’t argue that Bitcoin et al can still survive on “just a few generators”, because at that point popular demand for it will have collapsed due to fear of the government and due to widespread lack of access causing a wake-up call to the uselessness of BTC.
Wake up. Or just ignore what I said, and eat ze bugs and shop online with your favorite CBDC, which is totally better than gold.
@@dylancatlett6580 Someone didn't get the memo that Schiff is a bitcoiner now.
The reason Peter is right at least on Bitcoin having no value is based on the
fact that it isn't able to scale to a real world use case. Other digital assets such a as XRP can scale in an adopted way for everyday use. There isn't any need for 3000 different currencies and most cryptos or digital assets are either securities or an elastic form of commodities with security similarities or some sort of bond.
That nerd bugs me. And what's up with the host skipping over Peter constantly?
They way he worded questions makes me think he thought it was going to be a big circle jerk. Then he realized Peter wasn't in the circle.
he's a huge egghead. what a dork!
Peter is a broken record who knows nothing about it.
Bit nasty...
....what's wrong with being a nerd?
Both sides have valid points..... One thing that isn't talked about is how JP Morgan physically buys silver quietly and over a long period of time then also shorts the hell out of silver to artificially suppress the price.
great call Adam they just got caught out but nothing will happen the DOJ is as corrupt as them
The interviewer is a disgrace. He allowed the pro Bitcoin to talk over everyone else. You need to give people a chance to speak. Peter Shiff was continually talked over. Like his view or not, you need to give people a chance to put their view across otherwise what’s the point.
peter always on point!!!!!!
You guys are disturbingly biased. The "hipster with the glasses" made a lot of sense.
Hahaha you’re right. I bet most commenters here doesn’t know or didn’t use bitcoin. All they notice is about this person but they can’t even repute his argument.
Why cant people be fucking calm holy shit
This is gold. Thanks for the content Peter.
Too many people.
Max Freedom ..yup and they all talking to much shit.
One moment, peter, one moment...
Max Freedom
Yes. Only by having many opinions open you can have a better and wider understanding and thus Maximising Freedom
The guy with the glasses is the problem. Erase any value in the conversation.
Only 7 billion... should we have less? What of Mars and Io?
Embarrassing for Schiff.
I hate videos like this where there's a guy who interrupts loudly each and every time a point contrary to what he is trying to sell is brought up. In this case, it was the worm with the beard. This just tells me that bitcoin is a first-class hustle to be avoided. In the end, the suckers who have them will get nothing but apologies and cold comfort.
unless you bought low and sold high
You mean, like yesterday? I've never seen a market like it where the price dropped more than 25% IN ONE DAY. Go bitcoin.
DICKSON PFISTHUR there is manupaltion, add high tx fee which are becoming visible now to the public. Bitcoin will not be the currency that we will use. Like internet company’s in the 90’s, AOL had problems too. But you would not wanna miss the chance to invest in amazon, RUclips or facebook. If you dont understand blockchain technologyt then dont invest in crypto and miss the boat. There will be enough people who will drive the tech and get rich of it.
Your bad spelling makes it difficult to understand what you wrote. I assume you are referring to "manipulation" and "tax" (or maybe "transaction fee"??). I made an effort to invest $1,000 in bitcoin when it was about $1,000. Because I live outside of the USA, the parties I contacted would not allow me to transact with them even though I have a US bank account (I'm also American). I also noticed ridiculous Bid-Ask spreads which would have cost me $500 to buy (price was quoted at around $1500). To sell would have netted me about $500. So I gave up on the idea completely and decided it was nothing but a giant ripoff. I will not invest in any crypto currencies. Soon the sovereign nations, particularly those with aggressive central banks, will impose oppressive regulations and taxes on it that will destroy the anonymity. It started as a haven for criminals and will end as a giant scam. Just remember what happened with Mt. Gox. They're still trying to figure it out. But the money is gone and losers didn't even get an apology.
DICKSON PFISTHUR you can attack me on my Grammar, I dont care, It is not my native language. If it makes you feel smarter, good for you.
You dont understand crypto that much is clear. If you think crypto is big because it being a safe haven, that shows you have 0 understanding of blockchain technology and its potential. Its fine leave the space, enough smart people who do realise its potential and are gonna profit from it.
Two kind of people buy bitcoin:
1. Naive
2. Arrogant narcissist.
BTC was a great idea, but speculators destroyed it as a valid alt currency, I would go as far as saying it was sabotaged for that reason.
@@merchantofveniceentertainm9894 valid point. Although I wouldn't buy it, your point makes perfect sense.
@daren darensky jajajajaa. Thank you. I'll my money on real estate, shares, gold, silver. Ask any muslim or jewish what do they do with their money. They are knowledge regarding money. Believe me mate.
You have no idea what’s coming. Stay poor!
This didn't age well , Bitcoin did.
Not only is that hipster dude annoying, he’s extremely rude. When I was a broker with Schwab, I talked to geeks like this all the time...they never made money...
lololol just wait till tax season rolls around and the number of millionaires in the us increases by huge percent. It's funny because 99% of brokers aren't even qualified to manage money. We'll see what happens buddy.
you have to define "geek" tho because most hustlers are sitting behind a computer now. More money online. Why would you want to wear a suite and brown nose your boss when 50% of the world has access to the internet. Brokers rely on market conditions and fees? The brokers work for people with...Money.
Rude? there was one guy with a high pitched voice who kept interjecting and trying to speak over the other panelists. Guess which Peter I'm talking about.
Bitcoin; where you can be a millionaire one day and homeless the next!
Who? Do you knew someone?
4 months later people lost in 20h $200 billion
@@percenter7416 and now it's at 51k
@@outdoorpompano2 it doesn't matter how much is worth, I have crypto to but you missed my point xD
Didnt age well
If its not real how does it have value?
10:27 hahahahaha there is more value in the tulips
'Who is FIAT' LMAO
You don’t understand? Lol
Why do 80-90% of lawyers in finance act like that guy with the hipster beard combo? It's just sad, the ego is huge but the presence is weak as f*ck.
I think if BitCoin was locked at $1000 it would be taken more seriously as a currency. It looks to me that most people are buying it because they hope someone will buy it from them at a later date at a higher price. Surely that's just gambling?
Every article about bitcoin shows photos of gold coins would be like every article about gold showing hot air. Lol.
wut
?
who is here at #Bitcoin hit $60,000 ?
I love Peter Schiff.
I love Bitcoin.
I feel so conflicted. Lol
don't get hurt on all that edge...
Your name suits you, hammer.
John Bai they're both right, Bitcoin is worthless in the sense that it is fiat as peter said, we need a Crypto backed by Gold although that would likely be made illegal by the powers that be.
Don't be John. Schiff is a salesman. He is selling his company and his ego. He does not sell cryptocurrencies. When money goes to crypto, he losses opportunity. That's it. He is arrogant in this interview. Not cool.
Peter has a lot of bitcoin
NOT BOT bitcoin is not fiat numpty. Learn what fiat means, lol. Also, cryptocurrencies only have value under certain scenarios just like gold. If you were stranded on an island with a $1billion dollars worth of gold, it would be absolutely worthless to you. Intrinsic value arguments are dumb.
Peter is absolutely right. it's just a bubble.
LMAOOOOOOO
Im crying
At the end of the day what is bitcoin backed by? When you compare bitcoin to fiat currency they have one similarity. Fiat currency is backed by governments, bitcoin is backed by demand, but in each case there is no intrinsic value.. Governments are stable and so their currency is more or less stable but demand isn't stable and neither is bitcoin.. This is why bitcoin is purely speculative. Gold is NOT speculative and is very dependable, even more than governments, because it has INTRINSIC value. The fact that there is some digital setup to keep track of bitcoin transactions does negate the fact that the only thing that adds any "value" to bitcoin is hype.
Peter Schiff was right.
Right because he said it would crash lol Dude i predicted it would crash and i didnt have to be an expert to come to that conclusion. Nothing is automatically stable from the start, stability is achieved as a result of volatility.
Максим Кузичев as always
The hipster is still too young and inexperienced to know how the world turns.
metro2002 Please tell us how money works? Let's see you contribute something that will totally blow our minds in awe and make us finally understand the fundamental idea behind money that we could not grasp. Perhaps it is people like you and Peter who do not fully grasp the underlying technology behind Blockchain and why it already has changed the world and the way "money works"
First of all, you blew my mind. I did not know that was the thing about how money works... now it is all so clear to me! Without your explanation, I would not have been able to google how money works in the fiat currency system.
Second of all, you still do not understand the entire purpose of cryptocurrencies and blockchain technology behind them. The purpose of bitcoin was to be a decentralized currency that needed no backing and no central government to give it value. Guess what, people have already assigned it a value, and it is not backed by any authority. It is a true currency based on the blockchain ledger, that is what "backs" it, and it works. It may not be perfect, it may have scalability issues, but it is still currency and is the driving force behind the entire crypto revolution. It is not the end-all be-all, it is just the very first implementation of blockchain technology, which is again the real innovation. It may end up dead and not used, but it already sparked the third major revolution since the industrial revolution and internet revolution.
There are other cryptocurrencies besides bitcoin, and many of them are looking to solve real-world problems using blockchain technology. The ones that do will indeed change the way everything you know and understand works. They are projects led by incredibly smart teams of developers that are reimagining the world. You may not care to understand them, but when the "bubble" pops, the crypto projects that actually solve the problems they are looking to solve and that are looking to create value will become the future Apple, Google, Amazon, Netflixes of the world. You will literally not understand how the world functioned before them, much like the internet. This is why the crypto-frenzy is both a bubble and a real revolution that will push us forward even with many stragglers who don't understand the technology trying to resist.
metro2002 okay, why don't you tell us what backs gold? What gives it value? Why did it used to be worth 2000 an ounce but now is worth almost half that? Why do people pay so much for diamonds? What value do they have? Why do you pay for food? What value do you assign it? Get the point? Value is determined by demand. If people give bitcoin value, it doesn't matter if it's 20000 one day and 10000 the next. The value exists. You can call it unicorn shit or flower powder, but the technology is real and your comments add nothing to the discussion.
Yes, Gold has applications in electronics as an excellent conductor and is used as jewelry, but that doesn't back gold or assign it the value that it has in the market, the only thing that assigns a value to anything is demand. The point of my argument is not even to say that gold is useless or valueless, it is to say that it is pretty much the same thing as cryptocurrencies. If a crypto has a value assigned to it, it can be a currency. Like I said before, many of these cryptos do more than act as a currency, they have actual application to real world problems, much more useful than gold as a component or as jewelry.
"Cryptocoins have neither."
That's the philosophy of cryptocurrency. It was designed to be free from those things.
Peter like Buffet is clueless about this thing.
the guy does not understand how things are working now.
blockchain technology is one of the best inventions ever made recently.
2020 it still didn't crash, I'm still waiting bitcoin to crash like he said
there can be an infinite number of cryptos with a "limited supply of coins"
zero value
It is like saying that because there could be an infinite number of websites so the website apple.com is zero value ...
@@Preclik23 apple website isnt a mean of exchange. You wont pay me in "apple websites".
@@Preclik23 Apples and oranges ...
@@plastifiedmetal5682 but i bet you will take pay in apple products...
@@Jumpkic nope, it'll lose half the value in 6 months...
21st Century Battle: Digital Gold Money vs Cryptocurrency
That schmuck...
Bitcoin will collapse. Guaranteed and I own it. The block chain will live on but BTC will become worthless.
Ricardo Santos That's what makes it valuable.
It's a bubble. Give up, crypto fools-buy gold.
That's the exact same thing people said when it hit ATH $1 in 2009, then $10, then $100, then $1000now over $10,000 and will continue to say at $100,000, $1,000,000...and so on. Bitcoin growth is not linear, it's exponential.
What most people crying "Bitcoin is a bubble!" don't know is that bitcoin is a decentralized system with limited supply currency and of exponential growth. So is not farfetched to say that it will be at 100,000 by 2020, since it came from less than $1 to $10,000 in less than 10 years, and it hasn't even hit the bottom part of the exponential 'S-Curve' of technology adoption:
www.business-planning-for-managers.com/main-courses/marketing-sales/marketing/the-adoption-curve/
fsmoura lmao you're fucking kidding me.
Gold is up 3.9%. It could reach $1,500 by 2020!
Where's the moderator in this debate? People keep talking over their guests... The dark bearded kid has a disproportionately loud audio,so he can just black out anyone else trying to speak... -What a mess!
New World Forward I hate that fking hipster to.
I assumed that was the point. It is clear the bias this show has. Invite the 2 guest into the studio who are for it. And keep the 2 who are sceptical via internet. So they can be pushed out.
exactly. i do not care what he has to say with that lack of manner
I'm so sick of hearing about Bitcoin and all of the others.
Then buy! It's not too late, cryptos are the future of the economy: Digital and Decentralized.
He's basically calling blockchain a hot potato and everyone in it is just trying to dump it on the next guy.
Who turned the arrogant young guys mic up so loud?
I like how the dweeb retorts, "there is no they". Then later says, "that was not our original intent"... Just a zelot.
While I support cryptos I too saw this. He also started to say “We” as if he spoke for bitcoin even though he told peter there is no we or they.
Mark W - yup, it is merely a critique of his tactics in this debate.
He really hammers it home heavily that the government can track and trace every transaction back to you, then denies that the whole bitcoin thing was supposed to be "anonymous" to begin with. It's double speak.
00O0O00O0O00O0O - There is a lot of money on the table, so sales men are selling. I don't agree with all of Schiff's opinions on Bitcoin. But I think his position that over-hyping it will be counter productive if there is a huge correction and people come to see it as a scam. This could lead to a environment where more governments would feel pressure to target the space.
00O0O00O0O00O0O - I don't understand the, "literally nothing" claim. If nothing else, it is a novel, secure way to transfer value. The argument is over how much value. The scam is when those on the inside sucker in those from the outside. If all parties involved were on the same page, it would be phenomenally usefull and valuable.
9:40 what a genius. House value is an asset and not insured by the FDIC. People who defaulted didn't even own their homes, they were failing to pay for it. Debt isn't FDIC insured. Investments have risk attached and are not FDIC insured.
Peter is absolutely right.. Bitcoin or any criptocurrency for that matter is nothing more than a speculative tool that people buy hoping to sell at a bigger price than they paid for in the first place.
Yea bitcoin is stupid and people lose money
It's stupid when you don't understand it.
Bitcoin can be used as a system of payment worldwide.
Try that with gold.
You can't
@@joonkim7899 yes you can, it’s been that way for 5000 years before 1970. Read a book, get off the internet.
Bitcoin has 10X since this debate, what has gold done?
So crypto crashed. Will this clown own up?
Oh no It "uncrashed" itself for the 4th time but you boomers still don't get it.
Isn't Irwin Schiff ( tax protester) father of Peter Schiff
Yes
"One moment Peter!"
This is such a horrible format to communicate ideas. Thankfully we have Peter's podcast to listen to his ideas without interruption.
Ryan McLaughlin this guy is losing you money and you think he’s helping you. I actually like silver and gold as well FYI.
chrisem401 Hindsight is 2020. It's easy to say I'm "losing money" when you compare my investments performances with crypto currencies. But the downside is far to great for me to gamble my wealth away. Some people enjoy highly speculative bets, I don't. I like investing in non retail investments. BTL and serviced accommodation, farms (so far avocado and pistachios) then gold and silver. I know some people like fine art but it's just not for me.
Peter might be right about crypto but he is clearly biased and not being honest. I say this as a person who holds both Gold and Crypto.
discodench What has Peter said about crypto that's dishonest? He's told people only the truth, including the massive returns that have been made by bitcoin millionaires etc.
He's giving his opinions, which are highly subjective and slanted against crypto since he stands to lose money if crypto gets big and stays big.
it's called a conflict of interest.
Peter is right... As an engineer, I recognize that BlockChain technology is not remotely scalable. If it were to become a ubiquitous platform, it would be complete unusable. The performance is almost completely relative to the scale.
I bet peter has a few thousand In bitcoin just in case
Absolutely not
"When you own a bitcoin, what do you actually own?"
"Well, you do own value..."
Ummm...ok...
You on a piece of computer code.
You own a portion of social adoption... THEE only value this thing that COULD be defensible vs infinite supply of new coins -- still a risk but defensible and could endure til the next better one knocks the reign.
Beyond that, it's a big fat obvious zero. The fact these stupid fucks can't just say that is beyond hilarious (they being the entire world that's debating this). No one. Not heard ONE person say this.
When you own a piece of paper like a dollar that governments can continuously print what sort of value do you actually own? Other than the fact I can wipe my ass with it or use it as a fire starter kit.. it only has value because people believe it has value. Same with cryptos. However there is more potential value in them compared to fiat because you can build dapps on them and they have real world use..
I'm not arguing in favor of fiat paper dollars. Nice try though.
@sound money report LOL, so true
Peter met his match. Everything is bad but Gold. If it’s not gold/silver, it’s bad. Peter doesn’t want regulation but them complains Bitcoin is not regulated, then came back and flip flopped saying it is too regulated. That bearded guy got him good.
5000 years says gold and silver are money. Bitcoin has 10.
@@84patking gold is like typewriter and bitcoin is like computer. You can still use typewriter today but its to cumbersome.
Stop interrupting other people... Can't listen to this..
I've watch a number of videos/tutorials about Bitcoin as it's a hot topic at the moment. The thing that really surprised me was that it costs $30-$40 for one transaction. Wow! So how can Bitcoin be taken seriously as a potential source of exchange?
Bitcoin is basically software, does Microsoft Windows have intrinsic value or Google or Apple app store... they're just 0s and 1s but it's what you do with it that matters, how you use it. Bitcoin protocol coupled with it's decentralized network is where the value lies. Bitcoin isn't a "coin" per se it's a software technology.
Yeah Peter... All you want to say was: "It is a bubble!" now we know it. Thank you!
Peter just can't conceive a world where the people would rather own a system, rather than a system own them. That is the value Peter, the system itself.
Pablokolter If the value is in the system then why hype up Bitcoin specifically and not all blockchain technology? The answer is people like Peter V want to get rich off the bubble and need to keep the mania going to do so.
Because Bitcoin is blockchain technology, end.
The people own block chain technology? Funniest comment! Topkek
March 7, 2022 😱 Peter Schiff was right!!!
Bitcoin is not like gold!!
It’s not a hedge against inflation!!
People are running to gold not bitcoin when the economy is struggling!!! 😱😱😱💀💀💀
forex trading makes you rich if you have the hedge fund with a deep pockets usually skills currency trade
trading in forex is very risk that's the reason you need to trade with a professional broker
well,if you trade with a professional broker the risk becomes less
@Cuman Lucas yes I trade Bitcoin my profits was $13000 and my capital was $3000
@Cuman Lucas no I trade with expert Mrs Jessica shes absolutely the best broker ever
@Cuman Lucas I'm not expert Mrs Jessica
Peter, you weaken your position and power by talking over people too much! Wait your turn because you have the Master Key!
They wouldn't even let him speak most of the time lol...
PS embarrassed himself, has not done any DD on btc obviously, he might as well talk about basketball
Peter schiff was right again
?????????????
I feel like they have Peter's mic turned down
Peter Van Valkenburgh loves to pump bitcoin, ya'll better watch out for the dump.
It seems that his job. He's a lobbyist for bitcoin according to the introduction. Hard to take a paid spokesperson at face value, particularly when he keeps interrupting with straw-man arguments and mischaracterizations of other panelists' comments.
Peter Schiff is Wrong on this one. and he knows but he has to protect his bussiness that is in gold ;) i bet thathe also owns bitcoin because he is not stupid
If hashgraph lives up to it's claims, the block chain will become useless.
How can I invest in hashgraph
20:00 is the single line that wins this argument...
alll these crypo-coins some are infinitely divisible, arguably all of them are infinitely divisible therefore effectively if there are infinite amounts of divisible units... each of these worthless coins are infinitely useless now probably. why the hell does no one think that way.
Peter Schiff is 100% right but it doesn't mean you can't make money trading cryptos. I do it but I know it's an absolute bubble by every definition of the word.
So good to see Peter Schiff back in 2017 telling these guys that Bitcoin will crash and now almost one year later crypto and bitcoin are down 80% YTD, I would love to see that hipster explaining himself now
Exactly. Bitcoin is the new tulip mania.
@@SuperHtownswag lol. Peter has been saying Bitcoin will crash since it was $20, it's been in and out of several crashes since, but still massively up overall.
Bitcoin is alive and well. Think longer-term.
Extremely unfair moderator.
Peter never talks about paper gold. How the banks print paper gold and therefore they have complete control over gold.
Paper gold is a scam, too.
Everyone know someone paper gold is a scam. Most Investors suggest physical gold over paper gold.
Peter has a lot of bitcoin
Lmao! This was so obviously one-sided. How many times did this foolish host tell Peter to "hold on for a moment", but never once said the same for every time these guys cut Peter off. Gimme a break. 🙄
The bitcoin camp was actually more persuasive and interesting than the luddites camp. Because of the persuasiveness, host got pulled in towards the bitcoin camp. It might have appeared as one sided because of this.
@@NoobieToob I don't know why I'm bothering to respond to you, but I guess I couldn't help but notice you don't quite understand the purpose of a host/moderator in a debate.
The moderator is meant to provide neutral, unbiased oversight of a debate, while facilitating equal time for each side to conduct their argument and/or provide rebuttal.
The moderator does NOT decide what's most compelling and furthermore does not reward a side with extra time. That is literally bias, which is a no-no for hosts/noderators.
There's your free education for the day, as I am fully aware your generation's education system is complete shit.
@@romeomk510 Moderators are human after all, and despite all the training will never be fully, robotically neutral. Hence, despite being trained to be unbiased, the overall persuasiveness of the bitcoin camp seems to have won over the host. Indeed. The luddites should brush up and refine their arguments instead of regurgitating old, refuted arguments all the time.
Please never delet this
the Bitcoin casino should have been shut down by Governments long ago. It amazes me this has happened after the internet stocks crime. Bond market about to implode. The dollar is history. I put my gold on gold. It has value because its popular, hilarious.
I wish peter understood the power of math, programing and the internet
And you don't think that it would would be solved by the next iteration adopted by the market? Yes, bitcoin has a lot of flaws, but you think this is it?
Sound Money Report Charlie Lee tweeted why he dumped it. It wasn’t because he doesn’t believe in cryptocurrency
Sound Money Report in the end that is speculation. cryptocurrency is the future. BTC, is a currency first and foremost. I don’t see what’s the big deal. You are either in or out. There are the believers and nonbelievers. I am a believer.
Sound Money Report again, that’s just your view and you could be completely wrong. you are either a believer or non believer. people in the US will realize what this crypto currency stuff is really about, and will understand that it’s not going away. It is my belief that these people didn’t start crypto currency to make money, they started it to see something become revolutionary, something that can possibly change everyone’s lives in a positive way. ✌🏾Again I respect your views, but if all is what your saying is true then good for you. But if you are wrong then the coin didn’t flip your way. ✌🏾
Sound Money Report “First part for BTCPay supporting litecoin done: NBXplorer now support litecoin.” @nicolasdorier
We need a part II with these guys
I don't even know why you bothered posting a clip of you more or less getting totally owned.
feels bad after bitcoin lost 15K.
@Jake V. I'm a millennial who's made a lot of profit, yeah. What's up?
"One moment Peter..."