Peter schiff bitcoin debate fact
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Your personal information is never shared with anyone. August in Community Cafe. My money is on Schiff pun intended. My take is, Max is in the right direction but his line of thinking is a "Bit" flaw. I believe his hype is set on the Decentralization peter schiff bitcoin debate fact. Schiff is on the store of value. However, how come they do call a truce and agree that Crypto is the vehicle to transact and Gold is the store of value.
What Cryptos are is another Fiat Currency but digitized. I say, quit pulling on who is right; pair them both for a Central Bank killer. I explained Bitcoin to my mother in law yesterday and she said 2 things that stuck out to me: That's a ponzi" -"it's just air There needs to be a fair system, medium of exchange, unit of account, and store of wealth.
Currently, with fiat and even with Bitcoin it is not fair some report, some don't. I agree with Campeador though; these guys need to realize they are on the same team -- sound money. I personally don't think Bitcoin is sound money, but if others do and they are following the rules, laws, and reporting and security regs, then so be it I do think that gold and silver have an integral role to play in a sound money system, so based on that, my views most closely align with Peter.
Bitcoin is outside the banking system [ which we know is bankrupt] Bitcoin cannotbe printed like fiat [devalued by goverments ] These 2 qualities are the attraction.
Agree ; don't think Bitcoin is sound money. Bitcoin IS outside the banking system, and it is also currently outside the regulatory system. They are Peter schiff bitcoin debate fact risky spec assets. We do not need tax. Before the Fed Gov did no claimed any Federal Tax. Taxatiom started with the Fed Res Act in When open to taxtion is crow bar for Pork Barrel Projects.
All it does is create a bloated inefficient Gov Co. The Gov can be funded via Tariffs. If they want to go with the Tax route. Right now peter schiff bitcoin debate fact is need it is a Wealth Tax, not an Income Tax. Also, the laws should be written for the average person to understand and simple. In the USA we have such a convoluted and at some point, contradictory laws. Is such a mess that we need "Lawyers" to decifer the mess. People need to remember, laws are written by Lawyers for Lawyers; not for the people.
As you can see I hate Lawyers with passion; they are nothing more than leeches. Cryptos are interesting and I really enjoy watching the debate on what money is. History is full of wisdom. Coincidence or a Copycat? Is that what I just said with different words? This is my take: Peter schiff bitcoin debate fact are the new beaver pelts of monetary transactions. For thousands of years, when available by free choice, gold has always been the currency of demand.
Things like salt, cigarettes, beaver pelts, and peter schiff bitcoin debate fact Bitcoin, come and go. The scarcity of gold is real. The scarcity of Bitcoin is artificial. It depends on trust that a human-based promise to mine more coins will be limited. In a currency crisis, liquidity crunch, or stock market collapse, where would you rather be?
If you choose Bitcoin over gold, you are not thinking clearly. Blockchain does not scale. Imagine the entire history of every transaction of any size, any place in the world, recorded on a distributed network. Despite the hype, no one would use Bitcoin to buy a candy bar. One might easily do that with Bitgold.
Transaction costs are the difference. This is typical of any bubble. It's a technology that creates freedom to manage wealth in form of BTC.
Gold owners can be targeted by socialdemocracies, as it has happened so many times in history, in aim to expropiate all that wealth when the economy collapses. You can keep things truly private on bitcoin. You can discuss about the best market timming to hold BTC, and the risks of doing it right now. BTC is like investing in tech startups.
It's speculative and risky. But at least you know its fundamentals, ignoring the price, are awsome. Gold is the best money we have out there, right now. Tax evasion is a felony in the US. The argument that bitcoin's main value proposition is tax evasion supports my decision for not participating.
Tax avoidance is different including deferrals, jurisdiction, trusts, etc ; an entity does it legally. Without laws, regs, precedent, and enforcement it could be argued that Bitcoin is in the gray area between evasion and avoidance, but that's too much risk and uncertainty for me.
August edited August Why even discussing the root cause of all? I say, screw taxation, screw banks. I am a true believer of small government is the way to go. Cash money is also a vehicle for tax evasion, we best get rid of cash I kind of agree with everyone a bit.
I prefer small government and feel that excessive taxation just allows the monster government to grow larger and more powerful to suppress us more. I don't mind peter schiff bitcoin debate fact my share of taxes but I do not believe they should be collected in such a manner that the government needs me to report or needs to monitor so many of my monetary transactions. What I do with my money should be nobody's business but mine. And the fact that some people choose to commit crime or evade taxes with cash or cryptocurrency is not justification to prevent the rest of us from using it.
We really need to focus ways of funding the government that preferably reduces it peter schiff bitcoin debate fact size and does not invade personal freedoms and personal privacy. I think we as citizens have rolled over way too far and put up with way too much bullying from the government and we are not nearly as free as we think we are. I think cryptocurrencies are a reaction to the government's oppressive tactics and their habit of devaluing our money.
And a lot of people just want to be out of the dollar, just like us on Goldmoney. Guys, the only thing that matters is what people use as a mean of transaction. If millions of people around the world recognize Bitcoin as currency, well, that is currency. I love Gold and Silver even more. However, if not digitalized, they are only a store of value in todays world, and would never be a mean of transaction.
If I from Italy want to buy peter schiff bitcoin debate fact from a person in the US, I'm certainly NOT going to get on a plane with oz of silver in my backpack just to barter with the that person. And, I'm certainly NOT exchanging my metals for fiat either. We need digitalization for transactions. Gold and Silver are a great store of value long term even though not that much in the last yearsbut if they are not digitalized, they are worthless in todays transactions.
That is why Peter schiff bitcoin debate fact could change things with their gold and silver digitalized payments. The economic world needs less bureaucracy, smaller government, no central banking and, most importantly, faster transactions. Grandmothers will often say that the digital world is crazy or that people now days are dependent on their mobile phones, and they may be right, but what they do not realize is that with my mobile phone I could be transacting with a person form the other part of the world.
Digitalization is key in todays world.
Is bitcoin a bubble? Does gold have an intrinsic value? Is bitcoin a ponzi or pyramid scheme? Peter Schiff thinks so. Stefan Molyneux and Peter Schiff discuss Bitcoin vs. Gold and the future of money. Want to Buy Bitcoins? The True Value of Bitcoin: Please support the show by signing up for a monthly subscription or making a one time donation at: Get more from Stefan Molyneux and Freedomain Radio including books, podcasts and other info at: Amazon US Affiliate Link: Freedomain Radio Social Media Facebook: That's what they said at the foot of Mount Sinai with the cow made of Gold.
How that work out. Some things just don't change. Schiff is out of his league and gasping for air. Good job Stefan that guy has no idea what he's talking about — I can tell for instance he's not a computer programmer but someone who evaluates thing on his inferior knowledge, I have been programming for 35 years and I have not seen anything like this it is complete genius.
This guy will be eating his words especially when countries like India and Japan have made Bitcoin currency! Stefan you started slow in the early rounds ,but after you let him punch himself out you destroyed him ,like I knew you would.
Blockchain Technology is the greatest invention in many many years and that is a fact!!!!! But the banks are not gonna' let people spend and buy without getting their cut. We all know this. Stefan you are my very favorite person to listen to. Mostly 'cuz you never try to sell me junk,and I seem to always agree with your views.
The federal reserve is a pyramid scheme. Perhaps bitcoin is as well. Goldmoney is essentially today's currencies backed by gold.
Replenish by purchasing more gold, etc. I can hear the bitconners already, this time is different! Gold and silver — money for years. Peter said "bitcoin isn't backed by anything" and "bitcoin has no intrinsic value". He's dead wrong and Molyneux should have corrected him as this is a monumental mistake to make about bitcoin. Bitcoin with a capital B is a distributed, decentralized value transfer network and bitcoin with a small b is the currency created by and used on this network.
So we can say that Bitcoin and BTC have a symbiotic relationship. In fact one cannot exist without the other — this is how the protocol was designed.
Stephan …How can Bitcoin have any intrinsic value? Just because it is rare does not mean it has value. How much for a piece of Roman pottery I dig up in the garden? How much an odd shaped stone or shell or an unusual feather. Nothing Stephan…well unless you can find someone else who wants it…well Bitcoin is not ven that it is really just virtual…its not even a piece of Roman pottery It is intrinsically a bubble the day it is mined and just like the Tulip frenzy.
One thing that neither Peter or Stephan has talked about is the price of silver and gold and how it has been manipulated. Mostif not all holders of PM's expect this manipulation to stop and the true price to be discovered …. Your email address will not be published. Notify me of follow-up comments by email. Notify me of new posts by email. Bitcoin possible future value.
Of course he doesn't like bitcoin, he's invested in gold. I would say Buy Gold with Bitcoin's and make him happy. Where do these people come from BaHumbug The dollar is fake. Pull yourselves together ladies. This is the first time I've seen Stefan get out smarted Peter clearly won the debate. Leave a Reply Cancel reply Your email address will not be published.