🔴 Peter Schiff Debates on Bitcoin, Blockchain, Gold 

yeah, that's great. let's see peter stand up to andreas. please. and that's yesterday old news everyone in the community knows the pattern ,and buys the sell-offs. whoever would sell Bitcoin for Gold is stupid. i would never sell my Bitcoin, for something as lousy as gold is right now. gold goes down, and bitcoin goes up. i just made 70Gs today. and what about it? what did you make with gold today? nothing. and it's a saturday. so shut up, and keep on buying your gold. best of luck suckers. who ever is against crypto is a loser, who can't accept the truth, and will go down with the ship, and keep on repeating the same message over and over again, as they drown. "time to wake up. it's time to die." LOL

@@narcissismanalternativeper5346 you didnt make 70g shut up you loser

The clown owns BITCOIN agreed

@@matthewkingston8931 this aged well

Even went to a crypto conference to give a speech and debate Keiser lol

Peter Schiff precious metal business is threatened by Bitcoin that's why he attacks it so often also precious metal prices are heavily manipulated people are making good returns buying and selling Bitcoin

Lee Mooney >...also precious metal prices are heavily manipulated...< And if bitchcoin prices were being heavily manipulated, you'd be the last to know. >...people are making good returns buying and selling bitchcoin...< Prove it. I put it to you that you don't know of a single one. Like any other ponzi scheme, it is only the guy that started the thing that makes any money.

i'm right here. and? that's yesterday old news everyone in the community knows the pattern ,and buys the sell-offs. whoever would sell Bitcoin for Gold is stupid. i would never sell my Bitcoin, for something as lousy as gold is right now. gold goes down, and bitcoin goes up. i just made 70Gs today. and what about it? what did you make with gold today? nothing. and it's a saturday. so shut up, and keep on buying your gold. best of luck suckers. who ever is against crypto is a loser, who can't accept the truth, and will go down with the ship, and keep on repeating the same message over and over again, as they drown. "time to wake up. it's time to die." LOL

Sir Curtis Seretse I bought 3 litecoins for 20£ gbp each 8 months ago and sold same 3 coins for £700gbp just recently that's only a £640 profit from a £60 investment Would I have made same profit if I would have bought gold ? NO

Me too. Litecoin rocks!

Schiff's gold is threatened and I have gold and LTC.

Sasaurabhksharma You may own litecoin, but the founder of litecoin sold his entire stake a couple days ago...makes you think if its smart to hold now....

c dawg He sold because people were saying that he was intentionally trying to raise the price by tweeting bullish news about litecoin.

saurabhksharma since litecoin isnt traded in the futures mkt, it will be interesting to see how it behaves with the selloff of bitcoin....good luck..

wolf fayce No doubt taking some flow max....

1:27 LOL

He sounds like he’s drunk.

greater fool theory

Big inflated bitcoin dreams, will lead to big crocodile sized tears. And as always there will be a handful of millionaires who will make a fortune at the expense of masses of sheep who leveraged their homes to buy nothing.

Time will tell, soon very soon.

i looked at it at 60 didn't buy because of you. i looked at it at 300, didn't buy because of you. can this thing crash already?

LOL. This is it guys. Bitcoin is dead. It has only been claimed to be dead 500 times so far but this next time it will for sure die.

? what? whoever would sell Bitcoin for Gold is stupid. i would never sell my Bitcoin, for something as lousy as gold is right now. gold goes down, and bitcoin goes up. i just made 70Gs today. what about it? what did you make with gold today? nothing. and it's a saturday. so shut up, and keep on buying your gold. best of luck.

You certainly are the poster boy for the shit coin bubble buying numb nut. I'm secure enough in what I have and what I'm doing unlike yourself who has to brag of your income to make yourself feel better and try to validate a pointless point. Better spend your 70G's of cyber air dollars on something tangible fast. Oh and by the way, shut up and best of luck to you too.

you're just jealous. i'm rich, and you're not. and maybe so, but with the hundreds of thousands that i have made in the last 4 months of playing, is not hurting. i guess shit coins can pay the bills for years. and gold can't even buy toilet paper. by the way, you better be a trained MMA, when you tell me to shut up. say it to my face. i'll slap you silly with your own fist. LOL

Congrats on your big windfall of cyber air. As I said, better invest it quick. I'll stick with something that has a 5,000 year track record as a store of real wealth and will continue to be long after your cyber air has deflated. A trained MMA fighter?Yes, I'm certainly shaking. Probably too many blows to the head validates my point on why you're such an moron.

Making an analogy between witch doctors and gold as well as the rest of your rambling nonsensical diatribe pretty much proves my point on your idiocy. I've wasted enough time with the mentally challenged for one evening. Goodnight.

agreed

Yesterday I blasted Peter for interrupting too often. Today, I think Peter tried to be calm and civil, but after he was the one today that was getting interrupted he just reverted to his tendency to over talk the other guys. I almost don't listen to him anymore unless he's on alone with a reporter, but he has lots to say that are worth listening to, so I suffer through it.

dude he almost never interrupts as much as others, he is nearly always calm and cool. What your saying feels like a description of someone completely different.

It's lag in this case. They don't know they are talking over each other. Probably a good 5 seconds in this case so extremely bad.

I keep thinking I'm listening to an infomercial as the Bitcoin shill starts ramping up on his diatribe.

I'm army. What are you?

No coiners gotta no coin

Well this comment didn’t age well 🤣

@@jasonmartin1712 Agreed. Out.

He actually listened and didn't leave the scope that peter created. I could see he knows what's he's talking about, and knows that peter doesn't get it (since it's technical)

But how do you use blockchain? What's the monetary mechanism?

Bitcoin is the daddy of blockchain

Dex4Sure nah, read the research paper. Bitcoin is just an implementation of an electronic coin that utilizes a blockchain.

Peter fails to value Bitcoin's network effect, it took 8 years to build, its the strongest in the space, it's worth a whole lot. Buy Bitcoin or you'll end up talking stupid shit about "intrinsic value" (value is ascribed by an actor, it's not intrinsic) like Peter.

Charles LaKamp the network effect does give it some added value. you can ballpark the value w respect to metcalfe's law (O(n**2)) or a more conservative estimate (O(nlogn)). Anonymous, cryptographic, secure transactions are intrinsic value provided by the blockchain technology rather than bitcoin itself.

Peter is old and won't except new technology. He will be left in the dust

@@joonkim7899 you have mistaken his point and made a strawman. He is saying that bitcoin by itself isn’t the technology which it isn’t it simply uses it. So another cryptoCURRENCY could be made with blockchain or even an improved version and made even scarcer than bitcoin, if that happens isn’t bitcoin then obsolete? Can you name any technology that hasn’t been improved upon? Whereas Gold and silver are made from a supernova and aren’t artificially scarce, they are naturally scarce and are tangible, an actual commodity and have unique properties.

@@joonkim7899 there is literally nothing good about crypto yet lolololol

I agree. So tired of hearing 'you don't understand the technology'. Just more reason to avoid it. If something is VALUABLE the masses of people need to understand it.

This Nick guy only talks hot air with no content. "It has the most participants", "it was the first one around". SO?? Those are arguments to prove that the whole thing isn't a bubble, or has intrinsic value or even functional? They always use confusing phrases and justify something, because many pigeons have bitten into the fever. That alone is enough to convince me to stay away from it. WIsh I would have bought into it years ago, but now it's too late. At least Rockefeller got rich by innovating how to transport oil thru pipelines instead of rail. Just like wolf of wall street depicts "IT's ALL FUGGAZZI" it doesn't fucking exist.

There is no such thing as intrinsic value. All value is subjective. This is basic Austrian Economics.

Hi sigatus. "There is no such thing as intrinsic value." I am familiar with Ludwig Von Mises point on that in Human Action, being an Austrian economics proponent myself. However, in trying to reach people lunging towards a bubble, I am using a well established concept and definition that they may be familiar with. The 1828 Websters Dictionary: INTRIN'SIC INTRIN'SICAL, adjective [Latin intrinsecus; intra and secus.] 1. Inward; internal; hence, true; genuine; real; essential; inherent; not apparent or accidental; as the intrinsic value of gold or silver; the intrinsic merit of an action; the intrinsic worth or goodness of a person. 2. Intimate; closely familiar. Regardless of what someone subjectively values a thing in dollars, the thing does have a use inherent in it's creation. An *ax* intrinsic value is that it is a tool to chop wood, among other subjective values. The "intrinsic value" of a Bitcoin is what? Blockchain obviously, but originally was it not also an incredibly low cost to transfer wealth, which I hear is no longer the case. Once someone is compelled to *define* the supposed benefits - i.e. intrinsic value - of Bitcoin and other crypto currencies, then one will have a subjective value that *they* attach to those benefits. I seek to have those who promote Bitcoins (and cryptos) to explain how the benefits they associate with Bitcoins and how they arrived at the value/price/FMV that they think it is worth. I propose that there is no rational relationship between the current trading price and demand for Bitcoin and Bitcoin/cryptos supposed expressed benefits. The current motivation is not from any actual benefit ("intrinsic value"), but is purely speculation that a greater fool will exist beyond the limit of their ever increasing risk tolerance.

Steve DeLong kinda like the internet?

RIP Charles Manson. An American hero!

Gold sux

And a lot of people will earn a lot of money on bitcoin ;)

as oppose to losing money in a country thats in 20 trillion dollars in debt. the us dollar is about to collapse. countries are pulling out of the petro dollar, internet currency is the future dont get left behind.

It is still early. The bears have not yet begun the mauling. The imaginary coin peddlers are still trying to find last minute buyers. There is a hint of desperation as the bears sniff and paw at these imaginary coin peddlers. When the imaginary coin peddlers stare into the bears' eyes and see that there is no escape and the bears begin the mauling, that is when Schiff can declare ultimate victory. The mining rigs have to be dumped in a fire sale for total capitulation.

I was surprised anyone accepted buttcoin for gold.

www.apmex.com/now-accepting-bitcoin?gclid=Cj0KCQiA9_LRBRDZARIsAAcLXjc5U6-sym59TJrTRVf6sZWkV59VPx6klqqQl4CD-VKCgVpejQwk-VkaAqFNEALw_wcB You are fake news!

john charles I accept it for gold n silver ask me how

whoever would sell Bitcoin for Gold is stupid. i would never sell my Bitcoin, for something as lousy as gold is right now. gold goes down, and bitcoin goes up. i just made 70Gs today. what about it? what did you make with gold today? nothing. and it's a saturday. so shut up, and keep on buying your gold. best of luck.

Narcissism: An Alternative Perspective when no one wants an asset that's the time to buy it. When everyone is all in , mortgaging their home, talking about it on Monday street, that's the time to dump it. Good luck

Well well well.Thats a thank you too early sweetheart 😁😁33k + today and still going up

Well I made 70% plus

I've lost a lot of money listening to idiot friends telling me I'm going to miss out on getting rich❤ don't make the same mistake

How were you even lured to Peter in the first place? What happened to this sound thinking man? Sound as in foundation. Foundation as in solid. Solid as in material. Material as in gold. Gold as in rare. Rare as in valuable. Valuable as in savings.

TheRoot Message Silver is a hedge against the soon to fail fiat... it's not the type of investment you were thinking of, but it is still the safe play.

Aww, how cute, sweetie, but why are you using the term 'mining' to describe CuckCoin? Gold-envy much?

what does that tell you? don't listen to peter, and do the opposite of what he says. he's nothing but a shill causing FUD. the good news is, that it's not even close to being too late. you have plenty of time.

you should have bought 46.

Sound Money Report amen

Sigrafix seriously

its called satellites and being half way across the globe, r u dumb?

It's because there is no priority on the public internet so it's queued with all the other traffic. They'd have to pay for private crossconnects between locations. Very little of that lag is distance.

Except you haven't made anything until you convert your bitcoin into dollars. Get the money you used back and bet with the digital currency for digital currency. It's the same as gambling, but you have to make sure you win first.

You can flip coins to earn money, but risk gets higher and higher. Similar to mortgage crisis...

This will be contained like stock crisis of NASDAQ, because volume of trade is very low with respect to mortgage crisis... The fundamental rule of investment is simple, do not invest all of your money to one type of investment, always diversify...

Dex4Sure duh people always make money off bubbles lol and he calls the crash because of the government involvement in things it's the way the government runs the economy and they shouldn't be involved

Bitcoin probably won’t die unless replaced by alternatives, but like anything not backed by commodity, it’s a zero sum pyramid scheme until it’s backed currency. Some people will get rich, but a lot of people will lose money

best comment so far

nice summation

This is how you answer when you can't defend something with any logical arguments. That should be a red flag right there. Let those idiots burn their asses.

Gold is only worth what the next idiot will pay for.

That you have to "sell" your bitcoin in order to "trade it" is pretty obvious.. ?? those were the claims that Peter were saying - now THAT's is cyclical.

that's yesterday old news everyone in the community knows the pattern ,and buys the sell-offs. whoever would sell Bitcoin for Gold is stupid. i would never sell my Bitcoin, for something as lousy as gold is right now. gold goes down, and bitcoin goes up. i just made 70Gs today. and what about it? what did you make with gold today? nothing. and it's a saturday. so shut up, and keep on buying your gold. best of luck suckers. who ever is against crypto is a loser, who can't accept the truth, and will go down with the ship, and keep on repeating the same message over and over again, as they drown. "time to wake up. it's time to die." LOL

Narcissism: An Alternative Perspective You loosing alot of money now dude... Bitcoin is collapsing

Good thinking, Justin. I can get with this... might even want to wait a tad to see a durable bounce to weed out some stragglers ... and avoid falling knives.

Justin the Thinker I think the winner of the race has still not even arrived yet. but just like Amazon you need to weed out the winner when it comes

Very likely indeed

when is the next bear market? that's what i thought. let's not worry about that right now. right now, there is so much money to be made in crypto, and not in gold like schiff states, that you best jump in the pool, and stop running back to the beach chairs. what we're about to see, has never been seen before, and will probably never be seen again, at least not in our lifetime.

I think the market will enter a bear market after bitcoin goes 40.000 to 60.000 dollars. This zone seems the like red flashing dangerzone of overvaluation based on historic bitcoin bubbles. It will probably crash back to 8000 - 10.000, but the market can always suprise you off course.

It needs to do well a little longer. It's temporary success is making metals more affordable.

that's yesterday old news genius. everyone in the community knows the pattern ,and buys the sell-offs. whoever would sell Bitcoin for Gold is stupid. i would never sell my Bitcoin, for something as lousy as gold is right now. gold goes down, and bitcoin goes up. i just made 70Gs today. and what about it? what did you make with gold today? nothing. and it's a saturday. so shut up, and keep on buying your gold. best of luck suckers. who ever is against crypto is a loser, who can't accept the truth, and will go down with the ship, and keep on repeating the same message over and over again, as they drown. "time to wake up. it's time to die." LOL

And another thing, when you sell your bitcoin you owe capital gains taxes if it went up from the purchase. If you buy stuff by selling bit coins all year, well, have fun doing your tax return!

Lisa Murphy actually the difference is that gold has several thousands years of history of being money

It has thousands of years of history as money because it's a highly valuable & useful material. But what's relevant to present times is that it has even more uses now than any time in history so its relative value has really increased. And in addition to that, it has the potential to be money/currency again any time the current monetary system finally breaks down. Bit coin is dependent on the system, gold can stand alone.

Well said!

Yawn.

that's yesterday old news everyone in the community knows the pattern ,and buys the sell-offs. whoever would sell Bitcoin for Gold is stupid. i would never sell my Bitcoin, for something as lousy as gold is right now. gold goes down, and bitcoin goes up. i just made 70Gs today. and what about it? what did you make with gold today? nothing. and it's a saturday. so shut up, and keep on buying your gold. best of luck suckers. who ever is against crypto is a loser, who can't accept the truth, and will go down with the ship, and keep on repeating the same message over and over again, as they drown. "time to wake up. it's time to die." LOL

Yeah, crash, crash all the way down to over 1000% yoy. The crypto market is back up to over $640 billion so this "crash" is fucking nonexistent.

Well, yeah. It seemed kind of like a setup. Let's seem him debate someone like Andreas Antonopolous. He probably won't do that, because he'll get shreaded and it will never show up on his channel when he does,

Antonopolous would turn Schiff into apple sauce dude. It won't even be fair.

When we see mining rigs flood the market, that is close to full capitulation.

Sound Money Report: are you willing to mention a year? Any year. It's not very difficult to say 'soon', without mentioning a time frame, is it? 2020? 2025? 2040?

The timing depends on any new sanctions against North Korea. New sanctions may include these imaginary coins, in part, to thwart any potential NK cyberattack and ransoms involving them and to cut funding of the NK regime. Already, there are clues that the US is planning a major naval operation early next year. Perhaps during or after the Winter Olympics. With many countries participating in the Winter Olympics which will be held in South Korea, a North Korean attack on South Korea would be unthinkable. This provides South Korea some measure of safety. Essentially, human shields but from all over the world. The Navy is also trying to retain tens of thousands of sailors early next year who were at risk of being administratively separated for physical fitness failures. If a major military conflict breaks out, there won't be many young people willing to join the Navy. If there are already hundreds, if not thousands, killed or missing, young Americans would be hesitant in joining them and meeting the same fate. Loosening retention standards, thus, becomes a stopgap measure to unintentional downsizing on the eve of military conflict. www.navytimes.com/news/your-navy/2017/12/21/navy-grants-fitness-amnesty-to-48000-sailors-who-failed-test/

If those 'imaginary coins' still exist in, let's say, 10 years from now and banks worldwide work with them, would you then still call them 'imaginary'?

Those imaginary coins will still be around, just like old DOS floppy disks can be found. And just like with obsolete technology, their valuations will come down. Hashgraph is much more efficient as a method of global payments. But this is patented technology.

Yeah he is a bit annoying; the communication channels also had some latency, which I found more annoying. In the end it's just a simple debate and I think the BTC guy had reasonable arguments as such but it seems like he doesn't know why these arguments matter. It seems he just heard them, memorised them and splurging them out.

Cannot wait for this video!!! this is going to be quite something.

you mean was wrong edition, right?

Well, he has been saying it for years and still no video. And Bitcoin keeps bouncing back. Despite dips, it's still up significantly since the start of the month overall. So if you invested at the beginning of the month, you are still up.

Hold your horses cowboy

Bitcoin is going to 100k in the next few years

Where are all those people commenting on the price now?

Dex4Sure no thanks you can have her, the central banks are going to crush it and they always will now that they have a Futures marker on it the central banks will bleed every poor bastard dry. anybody that thinks that the central banks are just going to lay over while this thing just comes in and sweeps everything right out from under their feet I doubt it they they destroy whole countries with war to maintain power there is no way in hell they will let this overtake the power of the central banks

George Shibley George are you serious? Sounds like someone is jealous. Even after the price decline many people are still up HUGE!!! You missed the boat entirely sitting on your silver stack and are pissed! Did you make that same comment when BTC went from $30 to $4? $200 to $30? $1,000 to $200? $3,000 to $1,200? $8,000 to $5,000? $11,000 to $8,000? On and on and on. Were you there George? No? I didn't think so.

Sorry man, didn't mean to offend you. Hope it wasn't to bad.

Out buying more bitcoin!

Peter completely understands blockchain and its potential. He also understands economics and that bitcoin doesn't make sense as a currency (which was what bitcoin was designed to be). It doesn't mean the blockchain is a failure or that it won't be used for something else though.

thats true, but as long as bitcoin can act as the main bridge between useful crypto assets or crypto assets that have potential, than bitcoin has inherent value it's the most used and trusted bridge

that's yesterday old news everyone in the community knows the pattern ,and buys the sell-offs. whoever would sell Bitcoin for Gold is stupid. i would never sell my Bitcoin, for something as lousy as gold is right now. gold goes down, and bitcoin goes up. i just made 70Gs today. and what about it? what did you make with gold today? nothing. and it's a saturday. so shut up, and keep on buying your gold. best of luck suckers. who ever is against crypto is a loser, who can't accept the truth, and will go down with the ship, and keep on repeating the same message over and over again, as they drown. "time to wake up. it's time to die." LOL

Fuck your dips.

Buy the dips in the tulip bulbs as well!

YEAH cause when you buy the dip it ALWAYS goes back up.......wait

I think your brain's having a pullback.

That's not a dip that's a falling knife. Just ask the guy who bought yesterday, and the day before, and the day before.

His knowledge is correct. Imaginary coins. What did you think was going to happen to them? What you see is what you get. If you're getting gold, you're getting something. Imaginary coins are a swindle with a technological angle to fool the gullible.

I'm not sure you understand. Basically nobody is accepting bitcoin or pricing their goods in bitcoin. You are simply selling your bitcoin for dollars then making the transaction in dollars.

prndownload ..... I guess I'm not understanding because I'm looking at a rug I bought on Overstock.com and paid with it straight from my Bitcoin wallet. Goods aren't priced in Bitcoin yet because it's to volatile for now. But as long as merchants are willing to take Bitcoin then I don't see it going away.

You paid a fee for someone else to exchange bitcoin to dollars for the rug vendor. The rug vendor does not want your bitcoin. Won't be long and you also won't want your bitcoin.

Can you do all of this for free? Why would a company want to adopt (below 12k now yes?) when cup of coffee you bought last week is worth 10x less or more today

The Japanese government is not a good example of an organization capable of wise financial decisions.

Sound Money Report and which one is then? he makes a valud point yet you always criticize everything.. so much butthurt

same here - heck i even told my boss a local bar i dj at that she could pay me in Tron TRX - she said no way and gave me cash - so i think that makes TRX worth more right?

djpaulywood Sounds like it to me.

What is the next best use for these imaginary coins? There is none. And that is what they are worth.

Getting paid imaginary coins to waste electricity on meaningless calculations is not the crowning achievement of man in this decade.

Whats so meaningless about smart contracts, distributed ledgers for government(e.g. e-estiona, Sweden) and logistical function, or financial applications that go beyond building a concurrency ? A trustless network of uncagebel enteties has many applications within IOT applications or siply transactions between of varying authority. I suggest you read up on it. IBM is a good start or here proquestcombo.safaribooksonline.com/book/web-development/ecommerce/9781491920480

However, block chain is not synonymous with bitcoin. Anybody can use the block chain. It will have important uses in the upcoming decades, but bitcoin fails as a currency.

100% agree never staded otherwise.

Yeah, I'm just clarifying because to the uninformed, the two are synonymous.