'He's Full Of Sh*t' - Billionaire Destroys Peter Schiff's Gold Argument
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- Опубліковано 15 жов 2024
- Patrick Bet-David Podcast Episode 128. In this short clip, Michael Saylor and Adam Sosnick discuss why Peter Schiff isn't a true believer in gold.
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Gold isnt an investment
Its a store of value
Yes, just like sand and rocks, it will still be that the same in 30 years
Gold will be worthless in a crash also.
Investments are stores of value lol
Exactly, Gold is a store of value, which is why it will never be worth any more than it is today.
Bitcoin however is an investment which will be worth 10x what it is today just as it is worth 3x more than what it was when you wrote this comment.
@@SeraphimLeo Investments generate returns. Real estate is an investment because you collect rent. Stocks are an investment because you collect dividends. Bonds are an investment because you collect interest. Bitcoin is not an investment because there is no return. You can google "asset vs investment" to learn more.
If you ever see Peter on TV or listen to his debates he clearly states that he invests in foreign markets. He runs an investment firm called Europacific Capital. This guy stating Peter doesn’t tell people where he invests his non-gold money either hasn’t done his research or is just a straight up hater.
This guy seems like bullshitter
But what are the companies in the Europacific fund? It is not available to see on the site when I look…
@@jrb_jr_13 I don’t think you can get that information unless you are a client. If Peter just told us all the companies he invested in then no one would put money into his investment firm, they would just copy all his trades.
@@russ15doinwork ocanf, mta, fsm, fnv eqx or paas gold gfi aem and other stuff like nem and others.. it’s not rocket science.. every company has to show its holdings.. that’s how they get new clients..
@@soonermagic24 Yeah but it doesn’t tell how much they actually have invested in their holdings. That is more worthy info since a small amount in a stock shows not a lot of confidence.
Not a Schiff guy necessarily but how does what Saylor is saying here make any sense w respect to gold miners? The gold miners biz is extracting and selling gold just as oil companies extract and sell oil. I’m not understanding his logic here. If gold goes up, the extractors will make more $ by taking in more revenue. What are they supposed to do, just sit on all the gold and not sell it?
By that logic, construction companies are short the real estate market, Apple is short electronics industry lol, Saylor banking on viewers not having a clue how the economy & running a business works. So many people have failed to learn about real investing, because they grew up betting/gambling on crypto instead.
@@universalkhan8938 right
I think his point is that the price of Gold is tied to its scarcity or rarity and if you flood the market with a shit ton of it then you would decrease it’s value.
Agreed, very bad logic that they are short gold. They are long gold and benefit from rising gold prices
I was thinking the same thing. Saylor's argument is foolish.
Valuetainment definitely has to set up a Peter Schiff versus Micheal Saylor debate.
Pat and Peter Schiff don’t like each other which is why Pat had this Guy on His Show. Pat and Peter Schiff went Head to Head about Gold vs Bitcoin on Dan Bonginos Show.
Just have Peter Schiff for once would be great.
@@greengold6705
He did do an interview with him, but just not debate
@@taylor11089 yeah since then Bitcoin is down while gold is up
@@RomilCPatel yeah sorry I meant he should have him on the pbd podcast.
Pretty sure Peter's solution would be to support a gold-backed Bitcoin. He supports the technology just not that it isn't backed by anything.
@@NB-yu4lj @ dude I honestly believe these people think that gold has no real applications. Like it's crypto currency or something. Lol it's an industrial metal. And it's in like literally All electronics.
He has said that.
@@comeridewithme2277 @ yeah good luck accessing your Bitcoin when nuclear war happens.
@@comeridewithme2277 @ yeah cuz people's memories are so good.
@@comeridewithme2277 @ don't worry about it bro soon we're going to find out which one is superior gold or Bitcoin. Let's see which one survives the reset.
“Gold is money. Everything else is credit.”
“Billionaire oversimplifies and deliberately misunderstands Peter Schiff’s gold argument” would be a more accurate title.
Exactly. Gold miners are very very long gold! All the gold that is still unmined in the mines they own belongs to them. They are just waiting for it to be economically viable to extract
Central banks are buying gold, not bitcoin. When it comes right down to the nitty gritty, bitcoin is nothing but some ones and zeroes in some hard drive in a computer - compare that to gold, which has been money for 5,000 years.
How will you transfer the gold for global trade? With a digital promise to some gold in a vault that you don't own, all you have are letters and numbers somewhere saying you own it
Peter didn't show up to debate him and he still won.
Saylor has repeatedly refused to debate Peter, despite numerous pleads from Peter Schiff. Quit the bullshit.
Won by chickening out lol.
@@rexislv6025 won by Bitcoin down 60% since this interview.
@@Kristofur77 Can't win by not showing up.
@@rexislv6025 won by not leveraging his company on a token. I like Saylor but he's late into the game.
Peter is constantly offering solutions .
New ATH only few days ago... this aged nicely
Very nicely 😂
Gold is fucking crushing bitcoin the last 60 days.
Love your guest lineup lately
You can't compare gold to bitcoin that's like comparing a coconut to a rock there are two separate things. Gold is money, money has properties. Bitcoin is not money nor is it better than gold, it has zero of gold's properties. Bitcoin can't be money. Bitcoin has more in common with a multi-level marketing Ponzi scheme than gold. If you want to store your wealth you buy gold. If you want to gamble then buy Bitcoin. Sailor is so early 2000s.
If it is such a good store of wealth then why is nobody buying 50% of gold on a billion-dollar level, to Michaels's point?
@@ccc796 @ because like Warren Buffett says it doesn't pay no dividends or interest. But you look at the charts compared gold to dollar. Golden is definitely been out pacing the dollar. If you would have sold your house for gold in 1960. You can buy two houses here in California for that amount. If you would have sold your house for silver you could have bought four houses. You buy Bitcoin today and tomorrow it's worth half. WTF, imagine giving out a loan on that level of volatility.
@@trustme2001 His point is that gold hasn't outpaced inflation. And bitcoin actually has money properties. The only property still missing is stability but it is still in the early adoption phase so this can change. It's portable, durable, divisible, homogeneous, and scarce which is the main property of gold in terms of money.
@@ccc796 @ my Honda Civic has certain similarities to a Lamborghini, it has an engine, it has four wheels, in a cooling system. But we're not going to say that they're the same thing are we.
Guarantee you're not a programmer or tech savvy. Furthermore, you're wrong about Bitcoin not being money. It's a medium of exchange, a unit of account, durable, divisible, highly portable (gold is not), fungible, a store of value, and innately secure.
Such a dumb argument. Gold companies sell the gold to fund further operations, obviously
It is Michael's manipulation. Following the same logic: oil is worthless, because oil companies short (sell) oil instead of keeping it. Maybe Michael is not aware that the very business of drilling & mining companies is to make money on selling what they drilled & mined. It applies to gold mining companies as well.
And bitcoin miners
the point is, the rate of inflation is higher than the appreciation of gold. end of discussion. you must hold something that appreciates faster than the rate of inflation. as the desire for gold increases (due to inflation) the miners mine more gold, then dump it on the market, which lowers or stabilizes the gold price. this is so simple and such basic common sense but still it somehow eludes people. IF the gold miners only mined at a certain rate THEN it would be a different conversation. why are yall so low iq?
@@michaeld4137 the inflation adjusted price of gold is up long term. gold is meant to be a long term store of value (that is, constant real value), so it has the expected behaviour. Seems that it is actually your iq that is low😂
Saylor clearly knows little about Peter. Schiff explains his investment strategy at length in any long-form interview or his podcast. He invests in foreign and emerging markets mainly. This guy is like the financial Roland Martin.
Yet Saylor is afraid to debate Schiff and continues to avoid him with excuses.
Oh please, its a waste of time debating that broken record. He's been saying the same shit for the last 10 years and he gets so emotional. It's totally deconstrutive for everyone
@@JeDxDeVu All the more reason to be confident in debating him. But Saylor is not. He fears Peters arguments... that have been consistent all these years, yes.
Pat and Peter Schiff don’t like each other which is why Pat had this Guy on His Show. Pat and Peter Schiff went Head to Head about Gold vs Bitcoin on Dan Bonginos Show.
@@funkspinna The man's got the balls and conviction to invest 4 billion into Bitcoin. One of the first people to ever make such a crazy move. I don't think the man is afraid of a troll he could buy 50x times over. Put your money where your mouth is or take a hike.
@@JeDxDeVu His conviction is irrelevant. Many had "conviction" in Dot Com stocks that went nowhere. He doesn't have enough conviction to debate Peter.
But he does have excuses.
How was this destroying Peter Schiff’s gold argument? Peter use gold as a store of value not an investment. Just have the debate instead of misrepresenting his point of view.
Peter would school michael in a debate floyd mayweather style
lol
Gold is money, everything else is credit -you know who
J.P. Morgan, ya heard me.
Including promises to gold stored in vaults. So gold can't be used securely for global trade
You don't get rich from a gold hedge.. You STAY rich from MULTIPLE hedges/insurance policies.
Gold miners don't believe in gold because they would be buying it, not selling it. That's ridiculous... Their revenue stream comes from selling the gold that they invested to explore, build, and extract. If that were true, why do bitcoin miners sell their bitcoin?
Because bitcoin is worthless. And stupid people buy fake money.
Peter Schiff was Right Again ! 😎
How much do you have in gold?
Wrong* again dude has been making bad calls about Bitcoin since it was under $100 and it keeps proving him wrong. Have fun denying progressive technology. Never works lol
Was he? Xd
Bitcoin has tripled since you wrote this comment, whilst gold has done almost nothing. This comment aged about as well as Schiff's investment advice.
@@SeraphimLeo
>ATH
>nothing
ok bud
This guy takes buying your own BS to another whole level.
Saylor lost the debate to frank. He would get destroyed by Peter.
"Egyptian billionaire Naguib Sawiris is taking action: He’s put half of his $5.7 billion net worth into gold."
Peter Schiff is the man! Big fan of Patrick Bet David BTW.
You should check the updated version the lying scammer Naguib has less wealth than 5.7 billion and less allocation to gold . lol.
If he had put it into Bitcoin when you wrote this comment his net worth would have tripled. Now it has done almost nothing lol.
Michael Saylor doesn't even see competition here😂😂😂😂
Real question: is bitcoin a currency or an investment? Answer: Yesn't. Which makes people question its staying value. You're not supposed to have currency be both an investment and be entirely fungible, it's not stable enough to work with. If a laptop could one day be bought for $1 and the next for $2000, no one would use dollars. Bitcoin is a hedge against this scenario, but we already have that hedge via gold. Blockchain has upside, but hacking is still possible. So I'd rather trust in government-backed fiat money when it's backed by the most economically influential empire in the world's history. But I could be wrong.
Stable Coins
its digital gold not the other way around.
What a wuss! Debate Peter Schiff if you really think he is no threat. Dont say that it "wouldn't be constructive". If you beat him in the debate it would be very constructive for your case.
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Interesting, I have a lump sum doing absolutely nothing at all in my bank account,
I wanna get something started with it, any reasonable ideal?
There are platform where you can invest and they trade your money. Then pay you profit either weekly or monthly.
That's investing.
Investing in stocks is a good idea, but good trading system will put you through many days of success.
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I Got 60% in gold 10% silver. 20% in stocks and 5% in krypto and 5% in myself
Saylor will be in jail when bitcoin crash is all said and done with.
Hahahhahahahahhhhahah
and its crashing lol
Why would he be in jail?
HAHAHAHHAAHAHAHAHHAHAHAHAHA
@@ashdrakedhe’s up 2bil on his position now hahahahahahahahahahahahahahah
Looks like peter was right again.
The billionaire did not destroy Peter, he simply showed his economic ignorance and his irrational belief in cryptos...the new tulip, the new seashell currency.
😂😂😂😂😂😂😂😂😂😂😂
Bitcoin tripled since you wrote this comment whilst Gold has done almost nothing. Time has shown which side of the debate is ignorant about economics.
Interview Peter Schiff again please.
Peter’s portfolio is approximately 90% gold
Michael Saylor: Peter only has 5% invested in gold. What is the other 95 %? Peter Schiff: 95% is Gold Mining Stocks! Saylor is scared!!!
This aged well
@@Zolotor Yea gold is at a all time record high, while crypto just puked
Michael Saylor is laughing last now.
Gold is not an investment it's wealth insurance
Tried to pay my groceries with Bitcoin. I was laughed at.
Did you try with gold?
@@ccc796 yes. Gave the cashier my necklace.
@@mannyvelo Right. On the other hand, you actually can pay for groceries with crypto in some places.
I buy my groceries in crypto all the time. But i guess you're gonna troll with ignorance?
@@ccc796 glint pay. Gold backed debit card you can pay with gold 👀
This Saylor clown chickened out every opportunity to debate Schiff. He is good at debating when his oppoent is absent
Peter needs to be on the podcast for sure.
he’s been on it. It was a 3 hour ad for gold and his other crappy investmemts
Pat and Peter Schiff don’t like each other which is why Pat had this Guy on His Show. Pat and Peter Schiff went Head to Head about Gold vs Bitcoin on Dan Bonginos Show.
He needs a private jet to get there 😂
@@RKO1988 he feels entitled to it even though he has bankrupted countless individuals
Saylor has repeatedly refused to debate Peter, despite numerous pleads from Peter Schiff. Quit the bullshit.
Nobody buys gold to get rich, we buy it to stay rich.
Saylor down $9k per bitcoin or down a total of ~$1.1 billion, as of today’s price.
Peter is right about the fundamentals. Bitcoin is fiat.
blockchain tech can be used to make enormously useful and beneficial platforms and solutions.
but that is not the same as Bitcoin having “intrinsic” value.
buying gold for Peter is buying insurance, not an investment. mining and stocks are investments.
The demented zeal these bitcoin buttbros have for their asset is just adorable. God forbid anyone say annnnnyyyyyyttthhhhing against it.
Said the pauper.
@@InvestBetter. lolololololol ‘bitcoin world champion’??? Are you joking? Between that handle and your defensiveness, what point do you think you’re making? Annnnd thats the sound of my adversary winning the argument for me but not realizing it. Like I said: adorable.
@@saucyrossy3698 Ahhhhh......your ignorance is crisp and clean, with no aftertaste.
@@InvestBetter. don't argue with this idiot. Let him stay poor with his 0% gains in the last 10 years compared to bitcoin
@@martingaledaily6426 lol riiiiiight I'm a BTC minimalist because I said you maximalists are defensive to the point of being mentally handicapped. Thats definitely the same thing as saying BTC can't make money. Because logic is tricky, isn't it, cupcake?
Michael invested 4 billion dollars in BTC, he Must sell the idea is going up by default! What a lame argument againt Peter, he need to invest more than 50% on gold so he can have a talk with Peter!?
So Peter have to change from divesifying investments to start betting on 1 o 2 assets so he can be worthy of Michael's time.
Are you guys listening to this nonsense? He wants him to start betting instead of investing!! LOl
You can be for or against BTC, but in this case Michael Saylor words and argument are pure trash!
He makes a valid point. An asset that only takes 5% of the portfolio isn't worth arguing about in this case. The question is where to put most of the money in, Peter doesn't offer a solution to this problem.
@@ccc796 The debate is about Bitcoin uses and the future of it as an investment. The amount of investment you have or the choices you make with your money is irrelevat to the topic in debate. Just plain evading and nonsense.
@@taturay Did you even watch the full podcast? This question comes at the end of a two-hour podcast and was all pretty much said earlier.
@@ccc796 can’t fault Peter for being in stocks when our Government is increasing the money supply at rates we have never seen. Gold just doesn’t multiply like that, but that’s a good thing and that’s the point Peter tries to make. Gold has gone from $1200-$1900 since late 2018, it has done its job. Gold has an inverse correlation with whatever standard of money exists in the world at that particular time, and despite the fact that golds bounce upward is almost never an immediate reaction to policy or whatever else is going on in the world, it always equalizes itself, depending on what catalysts accelerate or decelerate it’s move! I love BTC and Gold btw so I’m really not picking sides. Saylor just has some holes in his logic imo. Love his conviction with his trade, however lol
@@ccc796 Yes i did, he did never respond directly. thats why im commenting this.
Does his response make sense to you?
Not for me, and i own BTC and believe in the tech and thats why i have this concern when he can't defend his position against a smart opossing view.
Nothing will ever completely replace gold in my opinion, it's been used as currency for thousands of years. One huge solar flare and everyone's bitcoin is toast
No, bitcoin would be fine in a solar flare. Gold was captured by the banks and the gold standard is a fond memory that will never ever come back.
Central banks around the world have been buying gold hand over fist. They are not buying bitcoin. Dr. Stephen Leeb and John Ing have written articles that state the Chinese may own over 20,000 tons.
If the power grid goes down, or the government decides to cut your power (because they run it), btc is useless. Without gold, silver, and other precious metals in the electronics, you likely don’t have crypto.
When the government outlaws gold, which it has done in the past and is a much more realistic scenario than a global power outage, then your gold will be toast. We can all come up with un/semi realistic scenarios in which everything we have becomes worthless. These kinds of arguments shouldn't be convincing to anyone.
@@420Goldif the power grid goes down you won’t have time to worry about any currency
We know for a fact that gold goes up during times of inflation and economic crisis, whereas there is only speculation about how bitcoin will act under the same circumstances. I personally am a strong believer in crypto and I normally have 15-30% of my portfolio in crypto, but due to the coming economic crisis I am re-balancing my portfolio more towards proven inflation proof stocks. I believe that it is an extremely bad idea to go around telling everyone to buy into crypto during economic crisis, especially due to its speculative nature when people are at high risk of economic ruin.
Oh, this Tulip fan is going to tell us how much digital nothing is going to be worth in the future.
I'm no major fan of Peter Schiff but Would anyone actually even buy a used car from this guy?? Listening to him does make me feel very intelligent, Thanks PBD for having him on so we know what Not to do.
Saylors so full of it
Interesting Peter wouldn’t come on. Give that guy a microphone and he seems to always take it
What happen when the last Bitcoin is mined? What is the incentive to running a mining rig that will cost you money in electricity? The transactions fees will not cover the electricity cost since there’s not enough Bitcoin transactions, people just buy Bitcoin and HODL instead of making daily peer to peer transactions. Miners will shutdown the mining rigs then Bitcoin is no longer decentralized. Bitcoin is a 100 years ponzi scam until the last Bitcoin is mined (2140).
best comment on this video.
How many bitcoin transactions happen per day? Can you read and understand C++?
@@Micloren there’s about 400,000 BTC transactions per day and there’s about 1 million mining rigs. You want to do the calculation?
3rd world countries adopting it as their main currency will solve that problem
5% in gold …a true believer😂
5% of a billion dollars is $50,000,000 in gold. That’s at the current price about 21,000 oz of gold.
Despite the economic crisis, this is Still a good time to invest in Crypto and Gold
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It’s always been a hedge, I’m not sure why this is still such a debatable topic?
owning Gold stocks isn't being short Gold. That's just plainly wrong. Gold miners sell their Gold they mined because that's their business, they need the cash from sales to operate. and the higher the Gold price goes, their profit grows exponentially because most of their costs tend to fixed.
I didn’t expect such a low level from Saylor. He sounded like an 8 year old trying to make arguments. Crazy
So if the dollar has loss value how will retirements and pensions be paid in? Will retirements loose 80 percent of its value?
Gold isn't an investment asset it's a holding asset peter doesn't sell his gold he sell other people's gold for a fee his exact words were I don't sell my gold I sell other people's gold that are dumb enough to sell it. His investment position is 50% in gold stock because when inflation takes off again (& it will) the value of gold will jump and the mining stocks will follow especially junior mining companies which could possibly 20x
Hmmm I would be interested in seeing Saylor vs Lynette Zang on this topic
Sounds like Saylor is very scared to debate Peter because he knows he will make him look like the fool that he is!
The only fool here is you because you clearly didn’t but bitcoin when it was at 15k
Bitcoin has 3x this year whilst gold has done almost nothing. Time has told who is the fool.
peter schiffs networth is literally < 2% of Saylors . Both of their networths are primarily from financial speculation
Results are what matter
Gold miners should buy gold??? What?? Makes zero sense. Gold mining companies are a leveraged play on gold price. As the gold price goes up, the miners profit margins go up by many multiples. In order for miners to grow they need higher gold prices. They are not "short" gold except as a hedge. Kind of a red flag that Saylor doesn't understand that.
It seems to me that gold mines/miners, mine gold and sell it for a profit. (If the cost of mining is higher than the value of gold the miners hold it until gold's value increases & then they sell it.) Although, he's right that gold possession is a hedge against inflation, which I've seen Mr. Schiff state on numerous occasions.
Peter was right about Celsius crypto lol he’s coming for all of you!
He's wrong about bitcoin since 2012
@@ashdraked the game isn’t over time will tell.
@@garyseeseverything8615 Yea give it another 10 years maybe he’ll be right when bitcoin drops from $10 million to $3 million
He called out mashinsky to his face lol
He says who invests over 4 billion dollars in Gold ,the answer is simple :Governments
Gold miners dumping gold? That’s as flawed an argument as claiming that and artists dumping thier painting. The miners mine gold to sell them for cash. This will fund their exploration . You cannot claim they are short gold there or “don’t like gold”
Peter & Michael need to debate.
You don’t buy gold to “invest.” If you do, you’re not very smart. Gold is what you buy to store value of your labour over a long period of time. Having some gold put away is a very wise thing to do. If you’re after a quick return, stay away from gold. If you’re after financial stability in the long run, buy gold.
That’s actually not true, Peter says that he has about 50% of his portfolio in gold/silver stocks, physical, ect and the other 50% in energy and foreign stock markets. Peter was right about 2008, he was right about 2020’s inflation, and he’ll be right about this one too!
saylor does mention this.
gold / silver companies stock is differnt from gold
Can I pay my mortgage with bit coin or can I buy anything with it if not it’s worthless to me
Yes and yes.
Can you pay your mortgage with gold?
Damn. I wish i would have bought Bitcoin and not gold since this interview 😔😔
Peter is always eventually right
Peter doesnt say gold is an investment. He says its insurance.
I don’t agree with Schiff and I don’t agree with this guy either. Neither of their logic makes sense
Michael Saylor debating Peter Schiff on Bitcoin/Gold is like Elon Musk debating Joe Biden on EV business. Money Mike is too busy winning to waste his time straightening this fool out.
He's already had this debate with someone way smarter and more credible than Pete
Peter wants the publicity. Needs the publicity. That's why he doesn't get the debate
No he doesn't debate Peter because he knows that Peter would destroy him.
@@trustme2001 Whatever helps you sleep at night, sweetheart
@@InvestBetter. @ plus Bitcoin and gold are different things. Once a real asset and the other isn't. One has physical applications and the other one doesn't. one of them has historical presidence and the other one doesn't. It's really like comparing Danny DeVito which is Bitcoin to Michelle Pfeiffer which is gold.
@@trustme2001 Peter can’t destroy anyone. This is coming from someone that read all peters books. I used to follow Peter and he was actually my intro into economics in 07. In this case he’s wrong. He’s just too brainwashed by his dad to see it.
@@NB-yu4lj @ I wouldn't be surprised that's Satoshi is not some CIA operative. That created bitcoin so idiots can buy that and not buy gold. A real asset, give the masses junk, and keep the good stuff for themselves. And I'm not even into gold like that. I don't even own gold. I'm more of a silver bug.
Why would a gold miner mine for gold if it wasn’t money.
“Im not telling you you need to invest half your portfolio in it” weren’t you the one telling people to sell everything they own and mortgage their house to buy Bitcoin? Or was that the other michael saylor?
Peter is really knowledgeable about inflation and fiscal policy, I don’t agree with him on crypto. Just goes to show smart people who are experts in certain fields doesn’t mean they are experts in others.
The whole point about finding someone who has invested as heavily in gold as Saylor has in bitcoin is totally irrelevant and the fact that he felt the need to make that argument leads me to believe he's talking out his ass. The whole point of investing in gold is to store a portion of your wealth in an asset that will retain value and does not need to be liquidated. What can you do with a bitcoin? At the end of the day you need to sell it for dollars but what is the point of that if dollars are inflated to hell. People will say that bitcoin can be used in the same way but at the end of the day, the fundamental question is, why will people accept bitcoin if it has no real tangible use other than it can be sold for currency and there is a chance it will appreciate dramatically in value.
I used to like Peter Schiff, but now that he wanted Pat to get him a flight on a private jet, that just says entitled.
He should pay his own way? Dude flies private everywhere
Pat and Peter Schiff don’t like each other which is why Pat had this Guy on His Show. Pat and Peter Schiff went Head to Head about Gold vs Bitcoin on Dan Bonginos Show.
This has already aged so well
How is the Gold miners any worse than Bitcoin Miners???
That bitcoin logic can only exist in the era of no common sense.
The dollar. Gold. Bitcoin. Any stock. Pokémon card. It’s all the same. It’s all perceived value what a population is willing to pay. The only difference is ease of transaction. Arguing over these things is pointless. They are all the same,.
Underrated comment
@@NB-yu4lj bitcoin has uses and it's also indestructible. It's currently being used in El Salvador.
Dead wrong. Stocks have a business that sells goods and services behind them, gold has used in electronics/dentistry/jewelry, agricultural products can be eaten/given as feed, oil can be used to make gasoline, real estate can be lived in, etc. Even pokemon cards can give me pleasure and enjoyment when I play with others. Bitcoin does literally nothing. Price is what you pay, value is what you get.
@@Snubrevolver nothing you said counters what I said. Your idea of logical function of these is irrelevant. Value is belief.
I know that I'm late but in the end time and good experiences are the most valuable assets.
The US has enough gold to give every citizen 1 ounce.
Are Bitcoin miners "short Bitcoin" because they may later flip the BC they collect?
Do they though?
Miners do hold btc at times. They pay off their expenses and hold the excess when they think it’s undervalued. Miners also reinvest a lot of gains into more mining rigs. They are selling btc to buy more rigs to mine more btc in a sense
What is to stop governments from coming in and taking down or creating problems for the future of Bitcoin like in China with heavy regulations?
You say that gold miners don't believe in gold because otherwise they wouldn't sell.....is the same for btc miners?
They never push back on this guy so the are probably invested into bitcoin. If so just say so.
This didn't age well for saylor bit con is not near $240,000 as he predicted
soon...
How bout now loser?
No matter how much you dig at Peter, you will never understand monetary or fiscal policies like he does Patrick, nor be as highly regarded. We do not shine brighter by trying to dim someone else’s light.
Gold>BTC
Can’t bring all the gold in Mars.
PBD, I love your podcast but the title of this video? Come on, seriously? Peter would wipe the floor in a debate with this hack.
Peter Schiff adds no value to the bitcoin conversation
Bitcoin has no value
what happens over the next few years when 'super-computers' develop to the point that they can ruin the mining process? the last BTC mining date set for 2140 will be shortened to whenever a powerful enough computer is created to complete the task sooner. when that happens, miners will no longer have an incentive to maintain the infrastructure, and the whole thing will collapse. BTC is not backed by gold, but it IS backed by COMPUTING POWER. therefore, when computing power changes (and it will inevitably increase exponentially and at exponentially faster intervals) so does BTC.
It automatically adjusts for that. Try reading more into it mate.
So embarrassing. He's literally scared of Schiff.
Huh? Schiff is the one who didn’t show. He’s also the one who won’t debate him. Oh and he’s also an idiot.
Holding miners mean you are bullish on gold ….
You are leverage on gold !
What is saylor saying 0o .
His Saylor saying buying bitcoin miners you are not bullish bitcoin ????
#Gold & #Silver nd #Bitcoin (1% allocation) to the 🌕 bitcoin is strictly speculation we dont kown if it will be here in another thousand years, but. Know gold will be 😉
Welp…I’m sorry about the people who didn’t buy. Still a good time to get in though
I usee to listen to Peter all the time. Then in 2013 I decided my money was better off in gold than bitcoin.
I no longer listen to Peter
I think you have these people mixed up, Peter is for gold, this other guy is for bitcoin.
@@taylor11089I think he’s saying since he listened to Peter back in 2013 and he missed out on a lot of profit cause of it lol Peter is right though. but why choose one or the other of this guy is being serious. If it was 2013 before bitcoin really took off why not have kept it and still bought gold. How’s that Peter’s fault lol