The fine to current value is way higher. You were using the wrong inflation numbers. A 10.000 USD fine was equal to 483.7929366 ounces of gold at that time (1 ounce gold was 20.67 USD before the revaluation of 1934). At current market price that amount of gold is valued at 1,170,442.81 US Dollars.
What I love about Peter shift is he hates bitcoin? He loves gold. And telling us the world’s gonna end, but he doesn’t really have a solution other than what he knows, Gold!
Gold goes up together with inflation, people don't like to see their fiat money lose value so they buy gold stocks because gold is more tangible. More and more people will invest in Gold and silver the higher the inflation goes. Just put the stock charts of the gold value and inflation next to each other, they basically go up the same way.
Dude, I watched a gold mining video in a mining Utah…. Mind blown 🤯 From the biggest excavators to the biggest dump trucks I thought that would be like the end of it and then they had process one process to process three process for process five process six before it came gold and I’m like you wanna talk about energy intensive what the fuck is that?
There are 100,000+ copies of Bitcoin's code and entire transaction history around the world. As soon as the internet returns, it will continue to operate as normal. Bitcoin can also run through radio signal. Better question - what happens to regular banking when the internet collapses? Cash won't work without the internet either as you need it to run ATMs/physical branches as well...
Great video as always! Get Based!!
The fine to current value is way higher. You were using the wrong inflation numbers.
A 10.000 USD fine was equal to 483.7929366 ounces of gold at that time (1 ounce gold was 20.67 USD before the revaluation of 1934). At current market price that amount of gold is valued at 1,170,442.81 US Dollars.
Yeesh! That is INSANE
What I love about Peter shift is he hates bitcoin? He loves gold. And telling us the world’s gonna end, but he doesn’t really have a solution other than what he knows, Gold!
Gold goes up together with inflation, people don't like to see their fiat money lose value so they buy gold stocks because gold is more tangible. More and more people will invest in Gold and silver the higher the inflation goes. Just put the stock charts of the gold value and inflation next to each other, they basically go up the same way.
Dude, I watched a gold mining video in a mining Utah….
Mind blown 🤯
From the biggest excavators to the biggest dump trucks I thought that would be like the end of it and then they had process one process to process three process for process five process six before it came gold and I’m like you wanna talk about energy intensive what the fuck is that?
An EMP will fry a BTC.
how do you validate the authenticity of gold or cash after an EMP attack?
What happens to Bitcoin when the internet goes down?
There are 100,000+ copies of Bitcoin's code and entire transaction history around the world. As soon as the internet returns, it will continue to operate as normal.
Bitcoin can also run through radio signal.
Better question - what happens to regular banking when the internet collapses? Cash won't work without the internet either as you need it to run ATMs/physical branches as well...
@@getbasedtv thanks. I’m learning a lot from this channel.
Blockstream satellite prevents Bitcoin from ever going offline. There will always be a node operating online no matter what.