Debate: Bitcoin vs Gold with Anthony Scaramucci and Peter Schiff

Peter Schiff and Anthony Scaramucci debate Bitcoin vs. Gold.
This debate is a part of Intelligence Squared Crypto a new series from Intelligence Squared debating the rise of cryptocurrency and future of money.
Since the world economy was plunged into crisis due to COVID-19 many economists have predicted a period of great instability. In normal times, investors would seek to hedge against volatility by buying gold. But this time, some are putting their money elsewhere - into Bitcoin and other digital assets. And that raises a fundamental question: will Bitcoin or gold be the trusted store of value and asset of the future in a time of rising inflation?
Anthony Scaramucci and Peter Schiff go head to head to debate. The host is Anne McElvoy.
This debate series is in partnership with EQONEX. Register to be in the virtual audience for our next debate on 'banking the unbanked' and you'll also be in with the chance to win a share of $5,000 EQO.
Register free for 'Crypto Can Bank the Unbanked' debate on September 9: bit.ly/3zaYL6B
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[@Intelligence-Squared]

What do you make of Scaramucci and Schiff's arguments? Did they persuade you?

[@legacies9041]

Both guests behaved well. Mr. Scaramucci only gave theory

[@rchicks22]

This wasn’t a debate. This was Peter Schiff explaining economics & money to a new audience. Peter has persuaded Scaramucci at this point also, but Anthony doesn’t want to admit it since his business is now centered around Bitcoin.

[@conspiracyburger7516]

Crypto is an accounting system, nothing more.

[@prasadmonty9884]

@@conspiracyburger7516 that's right

[@emilymaccaull8872]

Neither persuaded me...glad there are subsequent debates on this topic in the works. I’ll be tuning in.

[@benjaminmendezz]

One thing I noticed is that these two millionaires have a lot of books.

[@clarkwatson3217]

Millionares ?

[@AR-tb9hq]

"KnOwLeDgE" - Tai Lopez

[@mrcodcommando3939]

It's just a backdrop to flex knowledge in reality maybe they read like two books off the shelf

[@kugh2384]

The only book that will benefit them in the hereafter is the Quran.

[@andrews476]

success leaves clues brother

[@bryantdotson4667]

Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it.

[@micheleduque1730]

Bitcoin is the future of the digital world, investing in bitcoin has made me financially stable. It is a pity that many people who are going through great difficulties have ignored bitcoin, while bitcoin can improve their financial situation.

[@robertomarcos6117]

@Michael Holland wow I was surprised you mentioned and recommended Mr. Nicholas, I thought people didn't know him, he's really good at what he does.

[@frederickhilton9479]

5 weeks ago I made a total profit of 3.8 BTC by actively trading their signals as well.

[@alidasantiago2959]

@@robertomarcos6117 haha you really don't have to be surprised, Mr. Nicholas is really good and everyone loves genuine trading services, He helped me get back what I lost trading on my own.

[@brucerowlet8373]

@Michael Holland How good is your broker, I would like to invest too?

[@coltadonis7242]

HELLO, I'M TOTALLY NEW TO CRPT0 INVESTMENT AND FOREX TRADING AND I HAVE BEEN MAKING HUGE LOSES TRADING ON MY OWN BUT RECENTLY I SEE A LOT OF PEOPLE EARNING FROM IT. CAN SOMEONE PLEASE GIVE ME A NEW STRATEGY OR AT LEAST TELL ME WHAT I'M DOING WRONG?

[@dowsonfox9862]

Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade, I will advice you should stop trading on your own if you keep losing and start trading with Mrs Diane Walter trading services

[@dowsonfox9862]

I lost £1200 carelessly trading on a platform before I was referred to Mrs Diane, she recovered the loss and made an extra profit of £4600.. I will advice you should stop trading on your own if you keep losing and start trading with Diane Walter trading services.. Consistency is key✌🏻

[@viktornasirvlad2492]

Wow...amazing to see another investor who trades with Mrs Diane , i am currently on my 5th trade with her and my portfolio has grown tremendously.

[@brianwilliams5146]

Greetings!! from Canada, Expert Mrs Diane is my portfolio manager she also carries out both orientation and mentorship

[@brianwilliams5146]

Though I Was strictly warned not to go to the comment section but here and now I am sharing my testimony how profitably it is trading with Exp Mrs Diane

[@mirasmith8637]

The co-founder of private equity firm Thoma Bravo told CNBC that institutional adoption would fuel higher prices

[@kelvinrawn7755]

@Rhodri Owen I believe any where I am God helping us there must be a means of survival

[@kelvinrawn7755]

I make good income weekly from bitcoin mining and its been my reliable source for income

[@kelvinrawn7755]

@Nia Harri Thanks to Mrs Sarah for her good financial support and advise

[@kelvinrawn7755]

I can vividly tell anybody that no job is secured, the only secured source of income is business and investment because with that you can have a good sleep without working under tension or duress

[@aleksandrsteiner5724]

@@kelvinrawn7755 Wait, which of the Mrs Sarah are you talking about?

[@johnnyapplesmith]

Even though Peter is anti-Bitcoin, he is loved and a respected figure in the crypto space, it just wouldn’t be the same without him. We love you!

[@bahmak2003]

Nope, he’s the meme of bitcoin! 😂😂😂😂

[@johnnyapplesmith]

@@bahmak2003 That's the point 😏

[@JorgeMendez-kn5ql]

This aged well. Past debates always seem to vindicate Peter.

[@Getloose360]

Yessir. Crypto is volatile, highly speculative and unregulated aka ponzi. That said Blockchain is here to stay. BTC, Eth, I don't see those going away any time soon...the slew of garbage 🗑️ coins... 🤕

[@stoicroman9423]

Anthony Scaramucci is the best testament that reading tons of books don't make you smart.

[@dc4632]

Schiff the stiff is a bad actor and got rekt today but keep listening to actors

[@Satandstack]

I m not sure you're smart roman boy. Is your sound working?

[@BenJamin-pd4mp]

I'm buying gold and silver myself but I have zero debt my house is paid off and i have decent savings could care less about being super rich gonna stick with just protecting my wealth

[@frusia123]

I think the trick that tricks many is the inability to settle for what they have or what they could have through simply working and being reasonable with money. The thing is not everyone can be rich, and if you think about it, just having enough+, like the basics plus some savings and some spare cash for fun, that's already a lot. That's already more than many if not most people on this planet have.

[@bmw803]

Peter nailed it well. THEY ARE 2 DIFFERENT PRODUCTS. Very hard to compare bitcoin and gold as they have nothing to do with each other.

[@red149]

No doubt that gold is a metal . But gold as money is inferior to BTC

[@AliBooondok]

You lack any ability to comprehend the way the world is going.

[@bmw803]

@@AliBooondok I comprehend very well and I'm not against any of those crypto and blockchain technology. You lack to comprehend the difference between both as they're NOT THE SAME THING.

[@jackohere1878]

@@red149 That must be why crypto are marketed as coins that look like gold. Great marketing technique that has sucked in millions.

[@red149]

@@jackohere1878 well the idea was to mimic gold and add the features it is missing

[@elextwo2190]

Peter got Anthony in his feels lol. " its backed by maths ? " had me dead lol

[@wotanmituns33]

It's backed by mining operations, the silicon and metals (including silver and gold) that go into the electronics, the manpower needed to mantain the operations and the electricity that it consumes and in a way digitalizes.

[@cris694]

Yes, it's backed by math in order to provide safety, research PoW (Proof of Work)

[@wotanmituns33]

@@cris694 I'm not saying it's not backed by math. But there's also tangible assets in mining operations backing it.

[@aarodful]

His apparent inability to understand backing is shocking as an expert. He confused math and currency exchange as backing.

[@nationalnotes]

Can't help but admire Peter's conviction, knowledge and debating skills.

[@dc4632]

Still admiring Schiff the stiff lol boy got rekt

[@tomasleitao1775]

@@dc4632So “rekt”, his dividend payer and international value fund were rated 1 and 3 in 2022. Out of hundreds of funds ( number 2 was a goldman value fund). Scaramucci is down over 50% from his ath and peter keeps making bank with his junior miners and commodities. Youre the idiot here

[@efnik1]

Argument resolved by reality 2022. AND STILLLL! Peter Schiff

[@stevencortez007]

Next up! SCHIFF VS SAYLOR. Bring it on!

[@jamesmcdowell8742]

Saylor will wipe his ass with Schiff 😂

[@thebigbucktheory5488]

@@jamesmcdowell8742 saylor is a loony toon

[@FADOFFicial]

Saylor has no chance against Peter Schiff

[@somerandomvertebrate9262]

Agreed, but according to Schiff, Saylor has actually turned down every opportunity he's been given to debate him.

[@user-gz4ve8mw9l]

@@somerandomvertebrate9262 Not a very credible claim, considering it's coming from Schiff directly. If Saylor acknowledges it, then it would be.

[@EdYooTube]

Take this conversation on a Rogan-esque podcast where u don't have a moderator butting in because of time constraints

[@medliberty]

Excellent debate! Congrats to all involved. We need a lot more of this in order to understand the issues.

[@davidmcquaid7862]

This will be played for years to come & Peter will have called yet another bubble, BTC now sitting 21k

[@xpediteafrica5177]

Let's wait 5 years and as it has been so it will continue to run over gold, this is just a dip as we know it does in it's infancy. At the 10 year mark it will challenge gold in terms of market value. At around the 15 year mark it will be the number one currency worldwide. Secure, decentralized and therefor not controlled. Lightening fast secure payments 24/7 without the chance of corruption. It is adopting faster than the internet did.

[@ExtendedSack]

Schiff is proven correct by the future time and time again, total genius and a national treasure.

[@dc4632]

He's been calling it a bubble since it was $10 lol Schiff the stiff got rekt today Regulators Mount Up

[@dc4632]

@@ExtendedSack keeping that same energy today buddy Schiff the stiff!

[@specialk2000]

Easy to call a bubble when you're always calling a bubble lol.

[@berlinyuan3883]

The host needs to talk less and let the guest talk more

[@ACEJONESCEO_GUOKMUSICGROUP]

Exactly soooo rude❗️

[@btcberg3615]

she's a idiot and gives petter all the time he wants and laughs at all his crappy insults she also lacks intelligence, how ironic.

[@krisjones4051]

@@btcberg3615 salty much!

[@btcberg3615]

@@krisjones4051 not really I've seen my wealth increase at least 600% over the last 12 months

[@deathvalley1592]

VERY ANNOYING HOST!!!

[@stlouisix3]

Much respect to Tony Scaramucci for being so bold as to debate Peter Schiff on his favourite topic. Looking forwards to returning to this conversation, between these gents, in 3 & then 10 years👍

[@stlouisix3]

Goldman-Sachs backs gold, as do I. I've been a Major-General Goldwhale since I was a wee chap and I've engaged in gold-mackhn since I was a lad kd🐑

[@stlouisix3]

Gold, gold & more gold!

[@clarkwatson3217]

Mooch is such a coward and so easily triggered. Not to mention he is wrong always in politics

[@stlouisix3]

@@clarkwatson3217 true but take it easy on the mooch. Seems like an alright bloke. Many gold bugs I learnt from for years like Bitcoin now😂 Scaramucci and the Bitcoiners will learn the hard way in the next couple of years.

[@CyrusVatankhah]

For humiliating himself? Or making random/irrelevant comments like "We are the last industrial country putting dead white people on our money" or trying to compare Bitcoin to Facebook?

[@pablito12sc]

"at the end of the day...at least you had a flower". HAHAHA 😆

[@pseudonymanonyous1234]

As a Bitcoiner…how can you not love Peter. He’s truly family

[@mathiaskanuck6759]

I could care less about Bitcoin. I'm about gold, silver and 401k. But yeah Peter is basically an expert on economics. Good luck with your bitcoin dude(I'm not being sarcastic either) It's going crazy in this past week.

[@PatrickN.]

I love Peter too! Everything except his arguments that gold is a better MONEY than bitcoin. He understands lots of things and is so smart. He just really doesn't understand what Money really is and is misguided in his thinking. Bitcoin is PURE money but gold is not. Maybe someday he will come around and learn that or admit that if he already does.

[@zeon_cipher5799]

@@mathiaskanuck6759 how old are you

[@mathiaskanuck6759]

@@zeon_cipher5799 31 why?

[@zeon_cipher5799]

@@mathiaskanuck6759 cuz your an idiot if you think gold is more useful than crypto tech

[@pascualcaraballo1737]

I still see cryptocurrency as one of the best digital investment and i totally love the technology when it comes to the largest crypto asset Bitcoin As a trader, i have been able to understand that there are two sides when it comes to crypto and everyone has their opinions when it comes to choosing sides, though i am not kicking against Hodl, but i see it as an old and odd strategy to make profit of the market as when the market goes bearish investors/traders loses their investment which is always painful, when you can take advantage of the market by involving in day trading or copying trade alert from a professional trader that understand the market and use strategy to generate signals daily to make profit to grow your portfolio. i started with 2.5 BTC and i have accumulated over 11.6 BTC in just three weeks, with the trading strategy given to me by expert trader Paul Singh..

[@leslidinnocenzo5711]

Appreciate the insight will check him out, i have to start trading because holding is so dangerous

[@martinnielsen1617]

You can speculate in cryptos but not invest.

[@brianshenk6912]

So Warren Buffet is a hack? Is that what you’re saying?

[@lowfrequencyfilms]

It's digital nothing. Always will be.

[@seriouslythodonteven]

and how do u feel about it today?

[@tonymaciejko7331]

Just love the INTELLIGENT debate from both guests. A wonderful discussion that rarely happens in these times......no matter which side you support.

[@frankfromupstateny3796]

True Tony....one buys Gold to hedge inflation....if they have any expendable income (not many)...and yes...most investors hold Cryptos now...on an emotional belief that we can make enough "value" to live...without holding a tambourine in some allay to eat. US money is "stabbed and dying a bloody death now". So what...we trade our meager savings for Gold now...with a 1% growth rate yearly?

[@thomaspick4123]

It did not break down into a shouting match.

[@USGrant21st]

LOL. Intelligent and Scaramucci can't be used in the same sentence. The guy is an idiot. 😂

[@dc4632]

@@frankfromupstateny3796 Bitcoin isn't Crytpo

[@cbug6581]

It is good to hear both side of the debate, thank you.

[@evanm.4304]

In good times, give me some BTC. In rough times, I'll stick with gold.

[@bahmak2003]

Lol is covid time a good time for you?

[@evanm.4304]

@@bahmak2003 its seen all time highs for BTC and the stock market has done well also. Gold has also done well for me. It's an everything bubble, hard not to be doing well until it pops.

[@bahmak2003]

@@evanm.4304 lol gold can’t even keep up with inflation! Compare to its last ten year price gold is at negative!😂😂😂

[@evanm.4304]

@@bahmak2003 doing fine for me. I bought it at roughly 1,300 and it's been between 1,700 - 2,000 ever since.

[@bahmak2003]

@@evanm.4304 bitcoin is not doing fine for me, bought it at under 100usd, and now it’s just over 45!😂😂😂

[@DjNRGKINGManiac]

Thank-you for the great debate put together, by far the BEST debate I've seen so far covering the best arguments from both sides (as being diverse in both myself). Appreciate your time in putting this together.

[@Jazzper79]

I am totally with Peter. Great explanation from him as always.

[@mathiaskanuck6759]

Anybody with common sense would be with Peter. That's not a dig against crypto either.... Obviously people made money from bitcoin and all. But gold is forever.

[@jamesdean7756]

@@mathiaskanuck6759 lol He now says with a straight face to only have 5% gold in your portfolio LOL. He is embarrassing to listen to

[@mathiaskanuck6759]

@@jamesdean7756 you're embarassing to reply to.... Your argument doesn't prove anything. Okay he said 5% of his portfolio is gold... And how much of his portfolio is Crypto??? He's not saying to invest all your money in gold... He's simply saying gold is better than crypto. He's not trying to tell you can get rich off gold... He's just saying overall its smarter to buy gold over crypto. That's like me saying Chicken salad over Tuna, and you calling me a fraud cause I only eat Chicken salad 5% of the week.... Lol if I'm not consuming any Tuna than I legitimize my argument for chicken salad being better. This isn't rocket science.... By the way I know you got this stupid argument from Richard Hart. Horrible argument

[@jamesdean7756]

@@mathiaskanuck6759 no dummy. I’ve been listening to that idiot schiff since 2008 I think I’m talking hundreds of his videos I used to be one of his zombies like you back then he mercilessly bashed the stock market repeatedly… kept saying a market crash was imminent while others laughed at him that he was debating about that prediction. he continued this stupidity fir many many years and would never admit he was wrong about the stock market and those who followedvhis advice religiously missed out on incredible gains now that he knows he’s wrong and can’t deny it anymore he tries to say basically well I’ve been in Stocks all along and one should only have 5 to 10 percent. He has 180d dramatically RH called him our for it and if you really have been following shifthead long enough you would know this

[@ts8960]

@@jamesdean7756 gold isnt an investment its a way to keep your value safe

[@johnrivinius4873]

Schiff vrs Saylor now that would be a debate...

[@peterjohn7045]

He would never do it because he would have too sell after

[@oscarellis2563]

Crypto would crash afterwards 😂

[@bahmak2003]

Peter will become more of a laughing stock for bitcoiners!😂😂😂

[@peterjohn7045]

@@bahmak2003 there laughing now with their paper profits haha the bottom will fall it’s a matter of when this is history not the future so many good books are going to be written on the psychology of crypto

[@bahmak2003]

@@peterjohn7045 lol it’s not paper profit you idiot!😂😂😂😂 Already bought a farm and rental houses from btc profits!😂😂😂😂

[@sourishsaha8067]

Gold-rich people's money Silver- poor people's gold Bitcoin-foolish people's gold🤣

[@dc4632]

Still listening to Schiff the stiff after today?

[@frusia123]

Yes, although I'm not laughing. I'm not rich, I only have some common sense, that's what prevented me from buying crypto when so many of my friends were going bonkers about crypto. I still feel sorry for them though.

[@reallyshel]

​@@frusia123Crypto? Or Bitcoin

[@reallyshel]

Come back after 2025 and we will see

[@frusia123]

@@reallyshel Both. It doesn't matter, it's the same old story about getting rich quick. It never works.

[@radicalveg00]

This debate was MUCH better than the one held between Saylor and Giustra. Good job, Ms. Moderator.

[@wp-ww]

i literally fast forwarded each time she spoke lol.

[@MitchellfcNa32]

She interrupted when they were speaking directly to each other going back and forth and good moderator leaves them be. I as an audience member want to see blows thrown that’s the point of a debate

[@rchicks22]

Honestly, Scaramucci is the wrong person to have debate Peter Schiff on this topic. They’re not in the same league when it comes to economics. Peter Schiff would win against Michael Saylor just as well, but it would be a fairer fight. Scaramucci will be out of the Bitcoin game when it fails & the price crashes. Peter will stay in gold as it rises to 7-10k over the next couple of years, and make a fortune in gold, silver & miners.

[@johnnyapplesmith]

What I found absolutely hilarious is that Mr. Schiff says Bitcoin and Gold have nothing in common, then goes on to try and compare them throughout the whole debate.

[@jyhuh]

man i really love both of these guys and so valid arguments for each side - hope Anthony is right tho as i have a pretty substantial amount in crypto - mainly btc and eth

[@cryptofacts4u]

Peter been talkin against bitcoin since it was a 60 billion asset class lol Now its 1 trillion and he still says all the same things 😆

[@massimosaida6043]

Same tune 🤣🤣🤣

[@TXLionHeart]

Regardless of what the dollar/gold exchange rate is, I will gladly work for 1/10 of an oz. of gold/hr. I wouldn't do that for an amount of Bitcoin unless I knew how much Bitcoin was worth in relation to some other asset.

[@user-gz4ve8mw9l]

Sooner work for Gold, or Bitcoin regardless, then work for Fiat. Fiat is trash, regardless of what your preference is between PM's, and Cryptocurrencies in general. I'd imagine both sides of the fence can agree Fiat is worthless paper.

[@TXLionHeart]

@@user-gz4ve8mw9l Yeah, it's absolutely worthless paper, because all I can do with it is try to give it to someone else who hopefully hasn't figured that out.

[@bahmak2003]

@@TXLionHeart are you not accepting fiat then?😂😂😂

[@bahmak2003]

@@TXLionHeart lol but you’re accepting dollar!😂😂😂 And you use dollar almost everyday!😂😂😂

[@rud69420]

Would you accept gold if it had no fiat value?

[@michaelngfinance]

Questions to think about: 1) Is the demand for Bitcoin mostly come from the speculators? 2) Can Bitcoin really facilitate the free flow of capital from one country to another? 3) How much does it cost to insure gold stored at home, and how to not get ripped off when we sell it? 4) Can Bitcoin proivde annoymity to its users like the old Swiss banks? 5) How long will it take for the ultra wealthy individuals to be comfortable to use a crypto wallet?

[@bryangrey5509]

Anthony got dunked on by Peter.....haha Anthony "I am going to buy MORE Bitcoin...." Peter..... I thought you were all in?" hahaha

[@bahmak2003]

Lol Peter Schiff have been laughing stock of bitcoiners!

[@CyrusVatankhah]

LOL!

[@austinjoliet4412]

Dude announce he was wasting more cash on bitcoin at the end of the interview... that didn't end well. Losing 1/2 the value in half a year is not a store of value. Trade it on momentum if you'd like but do not hodl, it does not belong in a retirement portfolio.

[@raymondchristian391]

*GOOD VIDEO; EVERYONE NEEDS MORE THAN THEIR BASIC SALARY TO BE FINANCIALLY SECURED, THE BEST THING TO DO WITH YOUR MONEY IS TO INVEST, MONEY LEFT IN SAVINGS ALWAYS END UP USED WITH NO RETURNS,*

[@melissabrockman6397]

I totally agree with you, the Crypto market is the most profitable venture I ever invest in.,

[@melissabrockman6397]

I reached my goal of $500k yearly trade earnings.Setting realistic goals is an essential part of trading.,

[@georgeedward6246]

most intelligent words I've heard,

[@georgeedward6246]

Crypto is the new gold,

[@georgeedward6246]

I'm a huge fan of crypto, I hold some few coins in my wallet.

[@CARODSLINK]

I do appreciate you gentle speaking on such hard topic. I commend your endurance of one another's passion and respect. Great show. Ty.

[@Dhruva_Nakshatra]

Peter wins. Ultimately, he is right about gold.

[@red149]

Peter is wrong . He either doesn’t know it or he deliberately hides it . Money is simply an accounting system . Gold , salt or shells are just the representation of value in that system and they can be replaced by anything else that people agreed upon and has the following qualities : scarcity, divisibility , verifiability, portability , durability. Being a commodity, having and an application or …. have never been in the definition of money .

[@Matt-gf4gd]

I like Peter, love watching his talks... But I actually think scaramucci will be proven more right. Not that gold will go away, but I think it's going to increasingly seed ground to digital assets for many reasons. The future is more likely to place a higher value on digital assets than heavy, expensive physical ones, en masse. It may or may not be Bitcoin in 20, 30 years... But, I don't think the trend towards digital asset value is going to reverse trend.

[@intertubedude]

Virtually limitless supply of gold. Still mining thousands of tons of gold annually. Gold barely keeps up with inflation anymore. Difficult to transfer, difficult to store, and impossible to accurately account for all the gold distributed across the globe and under the ground. Bitcoin has none of those problems, and numerous other advantages. Gold is fool's bitcoin. Great paperweight or doorstop, though.

[@sten260]

@@intertubedude I see you don't know anything about gold mining... its extremely difficult to even find gold nonetheless mine it. Only few companies exist in the world that mine gold in large quantities. How is gold paperweight? If I make a pretty necklace out of gold and gift it to my wife, she would never sell it. It's extremely valuable to her. Not just monetary value but also emotional value. People pass on their items made out of gold for generations

[@intertubedude]

@@sten260 After thousands of years, miners are still producing thousands of tons of gold every year. Over 80 percent of bitcoin has already been mined, and the last bitcoin will be mined in 2140, a mere 130 years after it was introduced. Gold has emotional value, sure. But bitcoin is far superior both as an investment and as a medium of exchange.

[@lehast]

It's like when people used to say internet was going to last only a few years and that was just a bubble

[@SugarRoll]

Yeah but people were buying internet companies not the internet itself. Ask yourself, how many internet companies survived the dotcom crash? It's the same with crypto. The crypto network may very much change the world but people aren't buying the network, they're buying individual crypto out of thousands. How many will survive and what will survive, no one knows.

[@lehast]

@@SugarRoll also block chains are projects, most of them die and probably 95% of the thousands of coins available are scams or will die, do you see the similarities now?

[@SugarRoll]

@@lehast The similarities are clear to me right from the start which is why crypto has no place in my portfolio. I'd rather put my money in non-bubbles.

[@lehast]

@@SugarRoll that's perfectly fine, investing in crypto is not mandatory and definitely not the only thing to invest out there

[@bahmak2003]

@@lehast If 95% are scams that does mean bitcoin a scam?😂😂😂

[@jamesmcdowell8742]

It shouldn't be an argument of Bitcoin Vs Gold... it should be about both of them Vs Fiat currency and the government financial system....

[@kevintomman5354]

The problem with Gold is that central banks own 25 percent of it and they can manipulate the price. Saylor will destroy Schiff in a debate.

[@BullsEye3333]

@james mcdowell If gold worked as money then we wouldn't need Bitcoin. But we need Bitcoin because gold is centralized. If we try to use gold as money the government will just seize all the gold.

[@jamesmcdowell8742]

@@BullsEye3333 I think you are preaching to the choir... I own BTC, ETH and a number of other DeFi coins. Having said that Bitcoin doesn't work as money either.. Like gold, its a store of value asset.. not a currency.

[@jesusdaholy]

@@BullsEye3333 Gold did work as money for thousands of years. The only reason they removed it was for Central governments to print/more money so countries like the USA can go into never ending debt to pay for welfare and war.

[@olubola9274]

@@kevintomman5354 Peter always openly challenges Saylor, it's Saylor that's not responding.

[@mjab5652]

Great content. Thank you.

[@comment2250]

To answer the moderator's question "when will we see?" We will all see whether cypto currencies are a viable, enduring asset that holds its perceived value when the next major global financial/monetary crisis occurs, not a crisis like that of 2008, the Great Depression, or COVID-19, but something many times worse e.g. a full on EMT event, or a major cyber attack against the world's major global financial centers. It can be something like these two events or something else that will prove to be THE test that, will cleary show the whether crypto currencies and their networks are viable and a good store of value. Gold ALREADY has an established track record for withstanding local and global crises that pre-dates Bitcoin and other cryptos by thousands of years, it has proven its staying. Crypto currencies, ETFs, derivatives, and other relatively newer financial products are the new kids on the block that have yet to be tested, tried by fire, like gold, to prove their mettle when the next BIG crisis hits.

[@xpediteafrica5177]

Good luck trying to move your gold across a border during war time. Good luck to have ANY gold when the government has to fund their war and they confiscate it like they have before. Those and other similar events are just not possible with Bitcoin.

[@equitycolossus9536]

“But that’s nothin it’s backed by math???” RIP Anthony Scaramucci

[@EricSmyth2Christ]

I love bitcoin but Peter definitely won this debate

[@bahmak2003]

Nope he lost😂😂😂😂

[@EricSmyth2Christ]

@@bahmak2003Peter has lost before, just not this one

[@aircooledvw62]

Great job Peter!

[@TheGreatIndoors1979]

First ten seconds in and I already disagree with the proposition made. The world economy hasn't plunged into a crisis 'thanks to Covid-19', it already was in a state of crisis thanks to government monetary policy, and the government's reaction to Covid-19 has brought that crisis to a whole new level.

[@plastifiedmetal5682]

Man that moderator always cutting them...what the hell?

[@TheGilbalfas]

she needs to be muted..

[@Kunfucious577]

Super loud too.

[@tylerwagener3803]

Great job Peter

[@robertcrotty9000]

Gold or Bitcoin? Since central banks have gold in their reserves, you be wise to have some physical. But Bitcoin only has 125 million wallets but by 2025 will have a billion wallets. The immediate winner is Bitcoin. But gold will have to be revalued at some point in the future to salvage fiat or digital currencies. CONCLUSION: Better have both!

[@lotusscalper3116]

The bitcoin pumpers could make a 1 million wallets a day using super computers. Just cause the amount of wallets are increasing doesn't mean bitcoin is being used more. The fact remains bitcoin is not a store of value. Too volatile. Nobody wants to watch their life savings swing 10% everyday

[@davidferrer5709]

Peter was right.

[@dc4632]

Lol say what? Schiff the stiff just got rekt today Regulators Mount Up lmao

[@alexcod2468]

Still right ?????

[@xxpierrot]

The biggest gun will always own the most gold. -Queen Elizabeth.

[@willng247]

Private ownership is irrelevant

[@toddswenson]

Bitcoin fixes this.

[@sten260]

@@toddswenson lol are you sure about this? if I held a gun to your head, you would tell me your bitcoin wallet password in 2 seconds

[@Elmgren76]

Visited the History museum here in Stockholm, Sweden this summer. There was a huge collection of Viking treasures, mostly gold and silver. One of them consisted of gold coins and necklaces at a weight of 10 kilograms (352 ounces of gold). I could literally take the treasure, melt it down and retire with 650 000 $ in the bank even though the coins were made over 1000 years ago. This pretty much proves Peter's point.

[@karelkral9706]

Nobody is saing it it is not true. But untill you get these treasures (how?), melt them down (where?), find a buyer (how?) and trade it, you can send this amount of money in BTC anywhere in a few minutes...

[@Elmgren76]

@@karelkral9706 I think you're missing my point entirely. This treasure came from a wealthy family 1000 years ago and it has kept its value for all that time so I could, in theory, melt it down to obtain the same purchasing power. That gold can still be used in electronics or for whatever industrial purpose so the demand is still there like it has been for thousands of years. A bitcoin can't be used for anything at all.

[@karelkral9706]

@@Elmgren76 Agreed - until your last sentence. Bitcoin is a network and a unit of price in that network. You cannot send value in gold around the world in seconds. You can send bitcoin/satoshis anywhere anytime with very small costs and (with caution) anonymously. And one more thing to think about - where was value of gold for Vikings when they did not use electronics? :-)

[@hvaball150]

gold in a museum... that's where future generations may see gold.

[@Elmgren76]

@@karelkral9706 It's easy to transfer ownership of gold in a vault. Gold obviously had value for the Vikings, for Egyptians and for everyone else for the last 6000 years. Arguing with crypto people is like arguing with Jehova's witnesses - pointless. The main question that nobody answers is "what can you do with a Bitcoin"? Well, transfer it to someone else, that's it. It's completely useless and worthless.

[@arsalanmustafa1563]

“Eventually the supply of fools runs out” #bitcoin 😂

[@Legitinfo101]

Just look into the point peter is making. I just pity u.

[@coltonkay9000]

@@Legitinfo101 yeah

[@dc4632]

Eventually Schiff the stiff is proven a fraud today is the eventually lol

[@harriedebullebak858]

Eventually the supply of Bitcoin will run out. That's a fact!

[@frandithgimenz5920]

I couldn't keep listening to the lady in charge of the debate

[@zlatkopodrug9437]

Peter championed this!

[@icXINE]

Peter is a boomer he knows f all

[@martinlutherkingjr.5582]

But he’s still wrong about Bitcoin.

[@bahmak2003]

Peter Schiff the bitcoiners laughing stock!😂😂😂

[@sten260]

for sure, other guy is so dumb... mumbling about his stupid theories about the future is so ridiculous, peter just speaks common sense.

[@bahmak2003]

@@sten260 it’s Peter Schiff that’s so dumb that his son Spencer don’t even believe on him!😂😂😂 His son is investing into bitcoin! Schiff was already spouting against bitcoin when it was at 1 dollar, saying it will go down to zero and will never hit 50k!😂😂😂 So who’s the dumdum?

[@cbskwkdnslwhanznamdm2849]

Peter Schiff is awesome

[@dc4632]

You keeping that same energy today about Schiff the stiff?

[@inteist]

Oh, loved it how Peter put Scaradumbi down "Oh, I ain't gonna buy it, don't look to me to get out" ahahaha. Brilliant, Peter!!!

[@bahmak2003]

Peter is the loser! He even confessed if he can comeback 10 years he would buy bitcoin!😂😂😂😂

[@inteist]

@@bahmak2003 to speculate, sure.

[@SkopeeProductions]

24:30 Gold is not just a representation of value. It is a representation of value and a precious metal used in many of our electronics, jewelry, dentistry, and other manufactured products.

[@RandyJism]

Use of gold is limited in a digital world! 🌎

[@SkopeeProductions]

@@RandyJism What's your point exactly?

[@RandyJism]

Just that "gold" has some limitations that's all! Not said with negative intent!

[@SkopeeProductions]

@@RandyJism Ahhh! I was just trying to figure out what point you were trying to make with your statement :)

[@miguelon1995]

Peter mopped the floor with anthony lmaoo it wasnt even close

[@jimbrown5268]

I learn so much from debates such as this. Peter owned this debate.

[@spenser6353]

You must be related to Peter

[@cyberhodl]

peter has been wrong since bitcoin was $1 HAHAH

[@bahmak2003]

Lol Peter never win on any bitcoin debate!😂😂😂 How can you win on a bitcoin debate when you don’t even understand bitcoin?😂😂😂

[@SuperSte32]

Buy physical gold, physical silver and mining stocks.

[@SlackersIndustry]

you will be standing outside the igloo with him 😂

[@guyanasun4361]

I far from agree with Peter's political positions, but when it comes to understanding economics, the man knows his stuff..

[@fumikerhong2695]

I'm actually tired of working about stocks...it's driving me nuts these days, I think crypto investment is far better than stock..

[@genesisanna2239]

Trading crypto has been a lucrative way of making money

[@malamnataalah804]

Stocks are good but crypto is more profitable

[@adamsonfrade4560]

I'm new to forex trade and I have making huge losses but recently I see a lot of people earning from it. can someone please tell me what I'm doing wrong

[@edetbassey162]

all you need is a professional trader else you will continue making losses

[@richardwilliams6483]

How can someone know a professional account manager that is trustworthy when legit once are hard to find this days

[@chaddy-me-boy8299]

Peters point of let’s see Bitcoin go thru a crash of speculative assets is great insight since Peter believes Bitcoin is only speculative.

[@elementaltamago1297]

Agreed. Bitcoin isn't speculative because we know it's worthless. There's nothing to speculate about ;)

[@islandbee]

He refuses to believe that gold is speculative. Even though it is.

[@itssteve6018]

Bitcoin has "crashed" countless times now. And yet it recovers and goes higher. What more do you need to see?

[@chaddy-me-boy8299]

@@itssteve6018 that’s bc quarter there’s so much money out there for free. Peters point isn’t a pullback in Bitcoin, that’s why it’s speculative, he’s talking about an economy crash/pullback to see how Bitcoin holds up then.

[@islandbee]

@@elementaltamago1297 - But, there is something to speculate on Bitcoin. It happens to be the biggest and most powerful network in the world as we speak. With only about 2% global adoption right now, a five fold adoption rate would dramatically affect the price of BTC.

[@alexmansfield8676]

Michael Saylor was needed here. You’d have needed to set about 5 hours aside though 😂

[@ClutchCityHTX]

He won't debate Peter for some reason 🤔

[@silverado611]

Ill say this once. If you're stuck on an island alone, or even with 10 ppl, or 100, no one will value either gold or bitcoin. The point is that even value can be subjective not objective as peter claims about gold. Its truly all subjective. That said, I like them both for slightly different reasons.

[@Twystedwhizard]

Gotta say, gold would be more useful though. You could hammer it into a bowl shape and use it to cook. It has just about the best heat transfer properties. The Bitcoin would be utterly useless.

[@petermitchell4523]

Props for discussing

[@lennytritta7191]

Great stream, as always. I appreciate the level-headed approach you take to the news and the markets . A lot has changed and that's on everything but the truth is I don't even care much about bullish or bearish market anymore because Mrs Karen Cosmann got me cover as I am comfortably making 2.7B T C monthly.

[@Alexwilliamskenneth]

I'm surprised you know her too. I've been making a lot of profits investing with her for a few months now

[@victoriarodriquez5276]

Mrs Cosmann changed my life because of the high profits I got from investing with her

[@lennytritta7191]

@Henry ginn You can communicate with her on telegam with the user name below

[@lennytritta7191]

investwithcosmann💯

[@frusia123]

One of the things I found super strange was that everyone I know who dealt in crypto, had the same approach - not to sell. In an organic market people would have various approaches, some would be keeping crypto, others would buy a bit, sell with a profit, then buy again, others still would do a bit of both. But with crypto it's been like a cultish behaviour, as if someone influenced people to act the same.

[@bahmak2003]

They mean bitcoin is a long term capital preservation asset! Maybe 10-20 years.

[@dannyyap5143]

Awesome debate!

[@paulsteer]

Very interesting, thanks. Would have liked to allow the debate to dig further into the areas of disagreement, though.

[@BlaineOshaughnessy1]

Peter is the man

[@gumed85]

37:28 LMAO, the best part.

[@psalmsreader7997]

They are both right within specific contexts.

[@504boi8wd]

Peter made the better arguments IMO

[@bahmak2003]

Lol yeah all the bitcoin ignorants believe that!😂😂😂🤦🤦‍♂️🤦‍♂️

[@TT-nk5hi]

His loaded argument is the same on every youtube debate. "gold is physical and bitcoin is not" thats it, he can't conceptualise anything else.

[@TonyRSalazar]

@@TT-nk5hi because that's all he needs to say.

[@waynesaskmade8313]

My comment, after watching hours of video and plenty of days trying to decide where to put my money is: I like both Bitcoin and gold, but I honestly don’t see myself walking down the street to try and trade with someone using gold, I could however, see myself trying to trade with someone using Bitcoin. There’s my vote for now anyway.

[@ryanturner8577]

I want you to try something. Buy 10oz of silver. That's about $260 give or take depending on premium. When you get it, hold it. Feel it. Know that you are holding real currency in your hands. It has value. Admire how cool it looks. Then buy $260 of bitcoin. Look at that number on your screen. If after that you still think bitcoin is the way to go, then I don't know what to tell you besides....good luck.

[@jamersonsavant8954]

Until someone popular says bitcoin ain't worth anything use dogecoin lol

[@dc4632]

@@ryanturner8577 the problem is gold and silver have already been captured they can print more gold and silver now. So the question is how do we fix that problem cause if we don't we can never go back to gold or silver.

[@60-second-HACKS]

Now The Mooch is a Bitcoin expert? As if I needed another reason to be sceptical about this Ponzi.

[@AliBooondok]

You do realize someone has to be in control and at the top of a Ponzi, right?

[@martinluthierking]

he has been for a long time you idiot.

[@Centerflow]

Great show.

[@seriouslyyoujest1771]

At the end of five year periods which one would you rather own?

[@dptanner1234100]

Peters smile is priceless wise man

[@bahmak2003]

Idiot man!😂😂😂

[@chaddy-me-boy8299]

I’m 44 minutes in, but nothing yet on Jerome’s Powell whitepaper report coming out I think in Sept. How is Powell going to allow Bitcoin? Congress spends, Fed prints, and all we do to get rich is take those or printed dollars into Bitcoin? That’s the script? The more printed the richer we get..And Tony Soparano is going to allow this?

[@toddswenson]

The government sees Bitcoin as an asset/commodity so yes for now all the focus on crypto will be on alt coins because they are businesses. So Bitcoin will continue. Once you understand Bitcoin you will realize that it's eventually going to capture all the world's value. It's too late to stop it now.

[@oneopinion5231]

Peter, some people are getting paid in BTC. People in El Salvador are buying food, Starbucks, McDonalds with Bitcoin. So it happening already.

[@ancientkid1635]

IM A TOXIC BITCOIN MAXIMALIST

[@ndembomagalhaes5435]

Thanks a lot, it so much waited! Thanks indeed!

[@warrenwise8798]

Absolutely loved the debate. I fall slightly into the gold camp, but am not as dismissive of bitcoin as Peter. Also, my view on Anthony has completely changed after hearing him speak so intelligently and respectfully.

[@brianwillett]

Peter won this debate. Bitcoin is a scam.

[@sylvesteromoh7800]

Anthony is very clear 👌 in explaining what bitcoin stands for. But how does blockchain operate and what's cash flow registration.

[@courtneymeiers920]

Thank you Anthony for so clearly communicating about crypto. Solid points.

[@carymartz8762]

Look at Schiff with his big smile as watches his opponent on the mat bleeding. Good stuff!!

[@randaloopy]

Correcto

[@bahmak2003]

Schiff the bitcoiners laughing stock!😂😂😂😂

[@Ronnnnnnnnnie]

Lol what? Go look at a graph of gold vs bitcoin in the past 12 years

[@MetalMiIIs]

It's irritating that debate format continuously cuts the debaters off and rushes answers. They are the experts, let them talk.

[@sky-eo8tz]

Sold my stocks And bought AVAX ,SOLANA ,MANA and SAND . Gold is not disapointing me since last year

[@angelrodriguez-mf7vi]

Antony is too kind on Peter. JPM paid billion last year in fines for manipulating the price of gold through the issuance of derivatives. Anthony is so quiet and Peter is so loud. Confidence is quiet and Bitcoin is freedom…a freedom that only the most suppressed and or the wise seem to understand ✌🏼

[@Lifewithanasia]

this didnt age well bud because JPMorgan has a lot o do with Bitcoin now

[@NB-yu4lj]

You have to ask yourself why banks collide to suppress the gold price ,while central banks buy it all up.

[@bahmak2003]

@@NB-yu4lj lol stupid! If central banks buying gold why the price doesn’t move at all?😂😂😂

[@bahmak2003]

@@Lifewithanasia lol what jp Morgan has to do with bitcoin stupid?😂😂😂

[@eternityisreal1978]

🤣🤣🤣🤣

[@TDAshton]

Who was the debate with? The moderator should have interrupted less.

[@raymondrogers3929]

She was very annoying.

[@catchacard4638]

I would love to watch a debate where the two sides can just keep debating without moderation

[@jonathonlang5410]

Yes indeed!

[@marcritchie4968]

this is like watching 2 great boxers, and very respectful

[@gmh.]

Poor peter Schiff refuses to expand his understanding of new technology. He's so blindly in love with gold

[@jessicanfisher]

So's the FED...might be a hint

[@tmo2798]

The real no-coiners tout 'technology'... and don't actually understand what they tell others they understand. 'Bitcoin', is not a 'coin' nor is it a 'currency'. 'Intrinsically', it is worth less than air- and ACTUALLY pollutes it [Bitcoin 'mining' consumes lots of energy, and it's actually not 'mining' at all, it's a waste of energy]. The Bitcoin logo is a gold coin with two lines through it. But it's not digital gold at all. It's a waste of scarce energy. To buy in, you pay with 'fiat' currency, lets say.. US Dollars. You will also pay a fee in US Dollars to have an amount of US Dollars 'converted' to Bitcoin. That money will be tied up until you 'sell' it or 'convert' it back. You will be charged a fee for this action as well. The price of Bitcoin goes up as more people buy in to it with fiat given the supply remains the same. That is what gives it its value, people paying fiat for 'Bitcoin'. 'Fiat' is vital to the propagation of 'Bitcoin'. That's how it is appraised- its appraisal is in fiat itself, making it extremely redundant and wasteful. This happens despite many energy shortages exist around the world and many people struggle to stay warm. All Ponzi schemes go up, the benefactors are those who cash out in time, before the scam fails to keep the prices high by keeping people investing their money in it. South Sea Company, Theranos, Enron. Musk ran off with his gains after he conned his followers to buy Bitcoin, so they can raise the price, and he could sell out. It's been 13 years and it has not replaced cash as it once touted. The value is heavily dependent on cash. It's only added a redundancy. People could literally buy over 25 1 troy ounce real gold coins for $50,000. But they've been bamboozled. What do they get for $50,000? A special blockchain memory logged with transaction history with hyper-technology verificaltion scheme in network memory? Hyper-technology super duper digital currency which I can buy from ATMs and Coin Star machines at the various stores, which are the same stores I can't buy anything using the Bitcoin. Tesla was accepting Bitcoin for a while. Why aren't they anymore? It's not worth the risk. Cash is much more convenient, Cash is the very thing that allows Bitcoin to become more/less valuable. It's quite simple. It's such an obvious scam, and now grandmas are going to get burned for following the pipe dreams of so many others. Most will be burned. I feel sorry for them.

[@optimalfrequencytrader]

Schiff says Bitcoin has no value because you can only trade it. Isn't that what we do with stocks today??

[@johnevans1385]

The difference is that with stock, you own part of the company - accumulate enough shares and you can run it, sell it, whatever.

[@TT-nk5hi]

@@johnevans1385 and that company can also go to zero if the competiton is better.

[@salmastropolo1642]

Companies could go to zero, Bitcoin will go to zero. Eventually. It could hit a high of 500,000 for all we know; that is before there are no more new buyers, and the price action eventually and inevitably edges lower and lower as there are no new buyers to pay higher prices. That’s if governments even allow it to get that far.

[@bronx27]

Peter is 1,000% CORRECT !! Common sense!!!

[@bahmak2003]

Peter is 21 million wrong! 😂😂😂