Is Bitcoin the Future of Money? Peter Schiff vs. Erik Voorhees

[@williampjohnston53]

It was a good debate with good arguments on both sides, until the “Moderator” started to show his bias.

[@Omphaloskopie]

read this comment first but did not expect it to be that bad. it's hard to watch even.

[@andrewmcdonald1614]

I had to remind himself that he was the moderator.

[@PenguinWhispererThe]

Absolutely. Moderator should be neutral but he starts making fun of the Peter :s Peter and Erik could make fun of each other that's fine... but a moderator ... That's kind of lame. And I'm not even a Peter or gold fan. And the further the conversation proceeds it's getting worse. Never get this moderator on again :s He pulls the whole conversation to him.

[@saulespino2510]

@@PenguinWhispererThe Moderator was probably heavily invested in Bitcoin!

[@Scorch428]

They both have flaws in thier thinking tho, especially Peter. Your argument cannot be that oh, someday bitcoin will be worthless so its not a good buy. well, WHEN? cus if its in a year, youre right, but if its in 500 years the bubble pops, then youre wrong. What bitcoiners are saying is that over the next decade or two, 51% will believe in bitcoin and when that happens gold/fiat will be viewed as the risk.

[@Rubariton]

That moderator shouts and interrupts to make his points. Who the hell placed him there. My God

[@christabelmary7086]

After several winning with Mrs Florence trading services..I can bodly say bitcoin and Forex trading is profitable

[@madisonaudrey9419]

Mrs Florence has changed my life, all thanks to my aunt who introduced me to her

[@madisonaudrey9419]

She's really good

[@cathyfrancesca345]

I just got recommended to her on Twitter and I invested, please how good is she?

[@Admin-nf2yj]

Hey you're not far from making profit, he's taken care of my account for months now, I have 18 win and 2 losses so far

[@austint2284]

Peter schiff vs the whole audience including the moderator

[@bryanlee5358]

Great job by both participants. Moderator supposed to be neutral but wasn't. Bitcoin doesn't need help. It's like a lion, just let it out of the cage.

[@darkhorsegold]

I’m a big fan of Peter but he lost this

[@johnnyjohnson5344]

@@darkhorsegold lmfao no he did not😂

[@darkhorsegold]

@@johnnyjohnson5344 Peter has already said his biggest trading regret was not buying bitcoin early. So yes, he lost this debate AND he lost the opportunity to easily profit on Bitcoin

[@johnnyjohnson5344]

@@darkhorsegold ur first statement did not prove that he lost the debate. The debate was the future of bitcoin and i dont see how he lost. And what u just said does not prove it.

[@ELISHA690]

Eric Volhees: clears throat Crowd and mediator: Abrupt and vigorous applause

[@joedumford7809]

Opinions on the debate aside - The mediator is super obnoxious. Once he starts attacking Schiff, he stopped being a mediator.

[@Vahe345]

it's a total setup if they gave gold this type of plublisity it would sky rocket instead they want to keep it low so they can keep increasing prices another form of taxing the people who don't own assets.

[@sagar.rai2]

Joe Dumford 😃

[@evgeniakarunus9301]

I think the moderator is cute, and he knows Peter can take it.

[@francoisbrun5882]

This moderator is so annoying. Peter explains concepts and this moderator talks over him and it is just irritating.

[@Alock94]

That's called bias haha

[@masterpep7218]

At least we know now that there is gold in the ocean :D

[@jones1749]

I disagree with Peter Schiff on most things in this debate, but I still agree, the moderator was very biased.

[@vovka2026]

Moderator is a jerk. If he’ve heard somewhere that there is gold in the ocean he should have take some time to educate himself on this topic. Gold isn’t “in the ocean” it’s diluted in oceans water. And it’s like one gram in “crazy tones” amount of water that makes it almost impossible to get from. Same thing as saying “there is a lot of gold in some supernova that is hundreds billions light year away so gold isn’t scarce”. Will you ever be able to extract it cheap enough to make profit?

[@bigmanbobflyhigh]

The reason he does that is because peter schiff is brilliant at avoiding answering questions or important points that have been raised. He is just trying to curtail that and make the debate about the facts and information at hand, not who has the best debating tactics.

[@NoName-to5xl]

i think two things: A) that moderator owned bitcoin. B) the moderator was Voorhees' uncle.

[@allaboutmusicmovies9606]

no doubt about that

[@geoms6263]

i think two things: price is 70.000k and nr 2 price is 70.000K

[@lloyd5437]

Warren Buffett once said "if you don't find a way to make money while you sleep, you will work until you die".

[@goodluckjustin3838]

I'm a beginner who is seeking for advice, I want to start trading this 2021.

[@corinnarose.4545]

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[@corinnarose.4545]

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[@corinnarose.4545]

You can reach her up through her website below

[@corinnarose.4545]

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[@r4v1]

"I can melt gold into bowl to drink water in a desert island." LOL. That moderator is always disrupting when the gold guy is talking. Take a chill pill Mr. Moderator.

[@dauchande]

Yeah, that's because Schiff wouldn't stay on topic

[@jamalparkinson6827]

Erik and Peter probably got lunch together after the debate and talked about how crazy the moderator was 😂

[@captur69]

They should of kick the tosser off the stage...

[@bloodshredder1982]

🤣🤣

[@zootsoot2006]

Both goldsters and bitcoiners agree on the problem of fiat. But one side focuses more on the intangibility problem, the other on the supply problem.

[@therealvasilios]

I love that Peter can make his argument without reading it from a piece of paper.

[@leisureclub_]

I hope you also have loved the returns if you have blindly followed peter... lol

[@TheUnderminer840]

@@leisureclub_ I don't agree with peter on bitcoin but you can't deny he is good at what he does.

[@butlerpep]

when you speak truth, you don't need the prompts

[@joseuriaas]

Yet you mad because he Persuade you to not buy bitcoin instead to buy gold you chose your own destiny

[@TheUnderminer840]

@@joseuriaas Who is mad? I could be wrong but I'm guessing most of us have bitcoin. All we are saying is that Peter doesn't need notes to debate which is impressive.

[@jrmm4507]

Did anyone else notice that whenever Erik or the moderator said anything the audience would burst out into a childish, cult like laugh about something that wasn’t even funny. You can tell that a lot of people there were simply not open minded and not there for a proper discussion

[@TheKickboxingCommunity]

We are laughing because we are witnessing the demise of the boomers. They had tons of chances to improve the world but just sold short time after time. Now it is time for a better generation to take over. Basically all we hear is a crazy old man say " bAcK iN mY dAY "

[@TheKickboxingCommunity]

BUT. I have to say. This is childish indeed. Bias is stupid in any given discussion, he makes good points and he may be right in the end. (Though I think he won't)

[@davidchen587]

I am pretty sure Erik told audiences that he would offer then shitcoins if he won the debate lol

[@jimmysmith736]

@@TheKickboxingCommunity you do realise every generation blames the before? Your children will blame us when they get older. Stop being so childish with your ‘boomer’ comments. ‘It’s always someone else’s fault’ 🤦🏼‍♂️

[@xehP]

@@TheKickboxingCommunity go get a CTE scan, you've got cauliflower brain with this delusional talk.

[@DailyHedge]

I own gold, silver and bitcoin. Gold for preservation of wealth, silver for preservation and speculation, bitcoin for speculation for now.

[@bradvincent2586]

Great approach. I think I’m about to buy in to bitcoin with a similar mindset. Gold is my ultimate safe haven. Bitcoin is my ultimate speculation

[@gurkiratpandher2457]

I own equity and it helped me getting retired this year. I am 36

[@joshuarogers1947]

Valek has a great approach. 75% gold / 25% BTC and rebalance as needed.

[@liquidityzonetaken9188]

How's that held up lol

[@princemarkanthony500]

This aged well he’s probably a baller now

[@krishbox]

I love Peter Schiff's ability to present off the cuff in style.

[@mattpkp]

Just don't invest in his fund lol

[@mr.nobody673]

Peter Schiff is right about his assessment of Bitcoin. Bitcoin is easily replaced by the next Crypto. Bitcoin can be criminalized by the very owners of fiat money..the government. Really, Schiff has crypto right. Here is where his ideas about gold are from 1970 (when Nixon took the US off the gold standard). Modern economies ARE the new tangible asset. Fiat doesn't represent gold which then represents the economy. Fiat currencies directly reflect the faith in the economies that issue value. I use the word value in place of fiat currency because that is what is traded today. Value and faith in the economies that produce value and their ability to participate in the world economy. Venezuela's money is worthless not because they printed a crap ton of it. It's because no one has faith in the value of Venezuela. If their government joined the rest of the world in normal production of goods and services...entered into agreements with other countries and got back to the business of business....then their economy would rise again and the value of their currency would rise. Not because they had a crap ton of gold or crypto....but because people had faith in Venezuela and their economic engine and those that were running it. Buffet is right. Gold has no value, crypto has no value. Value has value...producing things, creating wealth and having humans participate in that wealth building. That is value.

[@mr.nobody673]

@Sound Money Man...I've been in finance at the merger / commercial loan level for 30 years. I hear you. But listen (and this is going to sound like I'm sold out but hear me out). The people that run the fiat currencies run the governments and that is all you need to make whatever worth (or not worth) whatever you want. Remember the Fannie Mae / Freddie Mac securities ratings debacle? Yep..thought so. Do you really think it was just a bunch of idiots sitting around not understanding that building all that crap wasn't illegal? Under who's authority did they do that? Yeah..thought so. Remember Enron? Hmmmm.....remember that the people that ran that were best buds with the Bush's.....yep. Who turns off the trading when it gets too crazy? yep. Who whacks a head of state when they threaten to go off the U.S. Dollar as the currency of record in the mid-east? Yep. So with ALLLLLLLL that ....you're going to think that some little crypto currency BS that was started by a bunch of Anon's in their grandma's basement is going to replace fiat currency that is controlled by the people who could turn your or my life upside down at the flick of a switch? Holy crap man....you've been watching that movie V for Vendetta too much.

[@Atlis07]

@@mr.nobody673 you're paralyzed by fear. Watch as the world loses faith in government backed currencies. Watch physical cash die, and finally watch the absolute hyperbolic rise of Bitcoin. It won't be what we transact but it will be the greatest store of value of our time. Compare it to any investment in the last decade.

[@BraceInc]

@@Atlis07 Doesn't fear rules the world?

[@hainezy4853]

Moderator needs to chill it’s not his debate

[@oceaniax27]

It's sad, Peter and Eric were both very amiable, but that moderator needs to take his medication.

[@tomw6956]

I believe it was for fun. From what I know, they al know eachother vey well.

[@syzyphyz]

@@tomw6956 right but the function of a moderator isn't "fun" he's supposed to give equal time to both sides and give good questions to both, not just try to win the audience over. He kept bringing up jewelry while ignoring that gold has huge function in electronics and other things because it is the most malleable, most conductive metal and it doesn't tarnish.

[@thicksunroof4687]

@@syzyphyz why can't you understand that e believes in gold and he is just doing it to make it seem as he is not giving enough time to gold so people like you simpatize with gold I mean look at him do you think that an old man like him who is surely invested in gold simpatizes with bitcoin?

[@SamWilson]

yeah sounds like he looses his chill and couldn't accept a opinion other than his own

[@AC-wl7ve]

every time peter starts making really good points the moderator starts screaming at him in agony.

[@zakiyo6109]

He was just trying to rail him back on the subject and he screamed at Erik too 51:13

[@solomondrabo8486]

The moderator is hella bias unfair debate 🤦‍♂️

[@dowskivisionmagicaloracle8593]

Yeah I don't know if it made the debate "unfair" but an ad-hominem attack on one of the debaters by the moderator is pretty low class.

[@billsmith-qq9pt]

The pro bitcoin arguments need all the help they can get, as rational examination stands squarely on the side of sound money where bitcoin is best measured by the desasters of the Dutch Tulip Frenxy and the 1929 crash that will only be over shadowed by the Fraudulent COVID19 crash

[@garydelong7750]

bill smith what is sound money, cash? Surely you’re not making that argument? Cash is being printed by the trillions with nothing backing it. The fiat that pours into bitcoin will transition into real sound money by the 21 million supply cap. Better get your bitcoin now.

[@timsession6736]

@@garydelong7750 "Sound money" is cash backed by tangible/real/physical assets like gold and silver. We don't have sound money in this country.

[@CuriousOne75]

Everybody is biased LOL

[@orioles7023]

moderator never had any plan to use the e-mailed questions, or even to take audience questions, he just wanted to jump into the discussion

[@CaryHawkins]

The moderator freak out is very unprofessional.

[@_davinskii6234]

Less than a minute into the debate the bias of the crowd is palatable.

[@KickRocksClowns]

Holy shit, right? Tarnished the hell out of this debate. Debate moderators should be neutral. If you want to argue the points then be a debater. This old goof is acting like hes there to "dunk on" Peter. Let the audience listen and decide for themselves. SMH

[@ariana5819]

i guess he wants to play like max kaiser but he probably knows peter is full of sh**t

[@zenfarrier1473]

Derrick Thomas yeah and he also recently moved to cryptoland in Puerto Rico..

[@Sanchez9531]

Schiff is actually selling gold for Bitcoin on his website. let that sink in.

[@roberteckert]

2000 years ago an oz of gold would buy a Roman, a nice toga and pair of sandals. Today a nice suit and shoes. That is stable.

[@_STNML]

We don’t use gold. We use dollars hot off the printing presses, disconnected from gold.

[@aprila1492]

You could buy a Roman with that? Who could you buy today?

[@bureaucratbayonet]

@@aprila1492 ...you don't wanna know

[@ApriliaRacer14]

When SHTF and your gold is stored in some bank how do you get it out?

[@happywednesday6741]

That isnt stable there are way more Romans now...

[@blooblah5855]

This was great! Two adults arguing their points in a light-hearted manner with some funny jabs thrown in. Big up you two gentlemen

[@NdrHrlnd]

Hahahahaaaa even Voorhees was surprised of how bias the moderator was.

[@bryanscanlon4942]

This needs to be titled "Peter Schiff vs. Erik Voorhees vs the moderator" lol

[@gauravtee]

More like Peter Schiff vs. Erik Voorhees AND the moderator

[@oneminutefixed5003]

"Peter doesn't know how gold trades", says a moderator that doesn't know he's place in a debate

[@yrrahyrrah]

*his

[@Ghost_Party]

@@yrrahyrrah ^

[@ldfgbnghcfhgvjbkhn]

Isn't it the responsibility of the moderator to call out any lies or obvious bad faith?

[@benjaminandrades8951]

@@ldfgbnghcfhgvjbkhn I'm not sure when you think Peter lied, but even then, no, the job is to provide order.

[@remydavis1502]

The guy had a spaz attack, how is he moderating anything

[@curtiso779]

This whole thing would be much better if it was just Erik and Peter sat in a room, alone, having a conversation..

[@phairpil5429]

Yep, in true cancel culture style !! 🤣🤣

[@MugenTJ]

You mean an honest discussion? Not when one of them isn’t or both.

[@gemini9955]

WORST MODERATOR EVER! That old man with the babbling, raspy voice ruined this debate. Terrible voice, stress inducing tone, uneducated on the subject of blockchain, and had to keep interrupting every minute. Someone please fire him, he’ll do fine on social security! Otherwise, this could have very well have been an incredible debate between two very brilliant investors!

[@ak15942006]

Yeah the moderator's tone is very confrontational, made me want to fight.

[@soulforged789]

Gemini99 Gene Epstein is a legend, dude! He makes the SoHo debates possible! Give him a break xD

[@TheEtrepreneur]

19:20 very compelling argument for the underlying value of gold. 25:05 I'm impressed by Mr Schiff 27:10 strong "intrinsic value" argument from Erik jab jab 28:05 another intrinsic value hook from Erik, decentralized payment system 29:10 volatility stabilization along the way with increase of usability from Erik, jab 33:30 bitcoin traceability jab from Peter 34:25 weak argument about the nature of the buyer, speculators (brokers, investors, market makers, smart money, etc) enter first, given the education required, then, final users will start using it, post smart contract marketplaces scenarios. 35:00 strong argument about hodling, this also might be solved massive usability, but so far will cause more bubbles in shorter cycles, hook 38:00 maybe the main takeaway, even Peter arguing about "slow debasement" of fiat, one can say that this slow dollar devaluation is inversely correlated to a potential second jump in bitcoin valuation (therefore the hodling), positively volatility? :P 40:00 interesting argument about the "bitcoin brand" intrinsic future value.. 45:50 strong argument over gold's vs bitcoin intrinsic cost. 53:05 forgot to mention that the future energy cost trend is down, therefore long term sustainability of mining, also GPU/ASICs tech following Moore's law is helping "a bit". (yes, quantum computing is coming, that's for a near future discussion..) 1:08:50 I wonder the % of investors that purchase bitcoin for value preservation purposes, specially after the chinese/cyprese?/argentinian/etc monetary collapse, this might clarify that point. I bet there's a big chunk of them, otherwise wait for the dollar to collapse... 1:1015 forks cannot replace the 7 net effects of bitcoin www.thrivenotes.com/the-7-network-effects-of-bitcoin/ Great debate :)

[@Brainbuster]

Best comment on this video. Thank you for your generosity.

[@maliceburgoyne495]

Schiff was KO’d. The operable internet has only been around 30 years. Mass adoption by western countries: 25 years. 45% of the entire world has no access to the internet. That’s changing. This is a new epoch and cryptocurrency is disappearing like digital alarm clocks or digital music. It’s not going away. Gold requires people to believe in it. The upcoming generation does not give a damn.

[@Likexner]

​@@maliceburgoyne495 1) He wasnt KOd. In fact i dont even see this as a fight that has to have a winner. The whole format of this debate is questionable. Its better to just focus on the points both of them raise, which helps to educate as opposed to the "us versus them" mentality that this fosters. Tribalism. 2) "...and cryptocurrency is disappearing..." i believe you meant to say "is NOT disappearing". I agree that at least some aspects of crypto are here to stay. I really like the concept of decentralization. 3) Its true that nothing really has ABSOLUTE intrinsic value. However, the value of gold is still much closer to being somewhat intrinsic than that of crypto. As Peter says, gold cannot be replaced in terms of its properties. Could there in the future be some advancement in technology that causes the need for gold for industrial application to diminish? Certainly. Is there any indication that might happen any time soon? No. As to the asteroid mining (I wont even go into the "gold in the ocean" thing because thats misinformation), i dont know the cost of that, nobody does really. But that doesnt mean the end of gold. Even if it somehow dips to say 20% of its value in a year and stays on a relatively stable trend (thats assuming its VERY cheap to mine it from asteroids), it still has three potential kinds of value - industrial, aesthetic, and faith based. Cryptos for now only have the faith based kind, and maybe the kind that Voorhees mentions - the technological capital behind it, which i dont know enough about, so i cede that point. Lets say then that it has two factors of value. Still less than gold. And as its dependent on the internet and global power infrastructure, it can be put out by a solar flare, a world war and other things. Gold will not stop working because theres no power. Its true that the demand for anything, even gold, can go away, but thats in case of a zombie apocalypse kind of scenario, in which no money does you any good and youre better of hoarding canned food. 4) "The upcoming generation does not give a damn" - thats just silly. Of course they do, because it still has industrial applications, and women still like gold jewellery.

[@samyguindy8490]

The problem with Peter Schiff is he comes up there but he doesn't have a solution for our problem the problem around the world is how do you stop a government from seizing your assets in your money when you're not a criminal and when you did no criminal acts in your innocent person you can't stop them unless you're a Bitcoin that's been a problem for thousands of years for humans innocent people get killed and get their asses stolen and you can't stop the government from doing it Peter Schiff doesn't have a problem to solve that the other guy does and its Bitcoin

[@samyguindy8490]

Although you can't stop a government from killing you you can stop them from seizing your assets if it's in Bitcoin you can only take away somebody's freedom for so long governments make constantly win-win-win for thousands of years were eventually humans will come up with a way to be able to save their self or save their money and assets and Bitcoin is that way if you know how to use it I'm still learning but hey you never know maybe Bitcoin won't succeed but it's worth a try

[@clifflee01]

It's been 5 years, Peter - you lose the bet

[@omarmahfouz5599]

Lose what exactly?

[@GhostOfTheUchiha999]

​@@omarmahfouz5599Bitcoin is at 60k dumbfuck. He didn't just lose a bet but he got Bitcoin wrong every step of the way Ur brain is not working moron

[@peter12266]

No he doesn't,the reason why is that everything that Erik Voorhees said that bitcoin will become and use case scenarios has NOT happened and never will.

[@snuggynuggy117]

Moderator: “yea yea yea Bitcoin yea yea yea”

[@Pouk3D]

Despite the unprofessionalism of the host this was a very good discussion.

[@TheWoWBane]

What a rude, bitter moderator.

[@Dhaiziheee]

Yeah he apparently owns bitcoin, so Peter calling him a fool rubbed him the wrong way lol

[@jrmm4507]

What a complete turkey that moderator is. He was struggling multiple times to conduct himself in a professional manner and was getting angry and irate which just shows to me that he knows Peter is right deep down

[@ThaRealGecko]

@@jrmm4507 Peter is right ? Have you seen the price of bitcoin ?? Or Tesla ??? He missed out on the best performing assets by calling them a bubble ..............

[@jrmm4507]

@@ThaRealGecko yes Peter is right, explain how he isn’t. Just because it’s gone up in price doesn’t prove Peter wrong. What value does bitcoin have in the real world?? What can you actually do with your bitcoin?? Another person that doesn’t know the difference between money and currency.

[@ThaRealGecko]

@@jrmm4507 I can send it to my brother for almost no fee wich is at the other side of the ocean where there is no work because of a lockdown, thats what i use it for ... Cheaper than any bank or western union ... That alone answer 2 of your questions ... But i can continue ... Its MY MONEY, MINE not yours not from a bank not from the goverment not from some weirdo hacker its 100% mine and i know no one will ever make more than 21M ... If i press SEND not you or a bank or a goverment or a hacker or ANYONE can stop it ... No one can delete it unless u delete INTERNET ... no one can duplicate my holdings, no one can access my holdings ... im done for now ... let me know if u want to know more ... because we unlike peter schiff ... we answer all of your questions........... BTW almost forgot but that is why the moderator is pissed off just like i am ... Peter does NOT answer the questions hes just btc bubble bubble criminals and fools buy gold gold FCK YOUR METAL MINED BY SLAVES!

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[@catastrophicstudios6447]

The moderator freaking out wasn't professional. I don't think the question was worded properly and I don't think that Peter is the best person to defend Fiat when he's clearly against it. If you ask whether crypto or gold or anything else will replace Fiat then the answer is always going to be yes. At the very least crypto is worth the electricity used to create it and facilitate the transactions. The base use for Fiat is that you can burn it. See Venezuela for that. Even bottle caps are better than Fiat. You can at least recycle those.

[@mistercat141]

Hands down for Peter Schiff against everyone in the room.. edit : I thought the moderator seems cool and unbiased then it change so sudden when he decide to troll Peter Schiff and sided with Voorhees... LOL....

[@braydenschaffer4463]

No kidding, he started spazzing out and yelling over peter mid-sentence. I think he was more-so trying to be funny than anything. But incredibly unprofessional.

[@Scorch428]

Peter looks at it like this: Bitcoin cant stay this high forever Everyone else: Bitcoin cant stay this low forever. In the end, its going to be popular vote of the WORLD. would you rather invest in a currency that doubles every few years? or one that doesnt? pretty easy decision. The gains are meant to attract the people, and the system is what they will stay for.

[@kashay4415]

@@Scorch428 You realize that all you're doing is reinforcing that Bitcoin is a "get rich fast" scheme, right? Not exactly a good look for Bitcoin bulls wanting to defend against that allegation. You should be looking at fundamentals instead of price. Just like with stocks: you don't look at the stock price (or market cap); you look at the earnings, the balance sheet, and then you look at the price. What is Bitcoins value if you don't look at the price? Bitcoins only use is to use it as payment which only works if it's price doesn't collapse. Gold can be used in industrial production or jewelry if you can't sell it. And if Gold prices fall, physical buyers of the metal (that need it for certain uses) come into the market to buy (which is what happened in March 2020). Who will back up the truck and buy when Bitcoin really tumbles. Nobody. Because nobody needs it if it's price collapses.

[@mattmarkus4868]

@@Scorch428 people have no imaginations and can't appreciate how the world will look in the future, and they don't understand network effects.

[@InpersonaHealhdata]

Gold and crypto is the future of money when combined together!

[@perkunast9680]

The future is gov coin backed by nothing.

[@sweatt4237]

@@perkunast9680 unfortunately yes

[@JJYacco]

LAWRENCE LOBALU id get on board with that 100%

[@Kanfachan]

EXACTLY!!!

[@kikin310]

@@perkunast9680 Zimbabwe in America.

[@sharonwinifred4780]

Yeah I can boldly say Bitcoin is the future and the wisest asset one can invest in and make a huge return

[@lncn4366]

Being Successful requires having a rich mindset

[@chanchanthanyarat7213]

Yeah that's true People will start kicking themselves in few weeks I they miss the opportunity to buy and invest in Bitcoin

[@marielizzy8437]

Crypto yields more profits with the favourable market rise

[@frankmarsha1004]

Bitcoin is the only profitable Investment online If only you trade with a professional broker

[@anthoniabenedito2886]

How do I get a professional broker I've been wasting my time trading on my own and blowing up my account

[@leirgauk]

18:31 Schiff actually makes an argument *against* gold (one that Voorhees sadly didn't make). Gold has real life value as a commodity in that it's arguably the best metal for conducting electricity. But because we choose to put so much value into it as a universal monetary unit, its value is artificially inflated, rendering it too expensive to be used for real life applications. Edit: 47:47 The moderator actually addresses this. Smart guy.

[@GregRickard]

Yes the metal itself is not really worth it's market price based on it's utility. Copper conducts electricity as well. Gold is priced the way it is due to supply and demand...same as BTC (both have the speculation aspect as well).

[@leirgauk]

@@GregRickard Yes, but the key is that Btc has no other applications that are rendered void by its utility as a medium of exchange.

[@joe9469]

Gold supply can't be proven show me how

[@omni_0101]

People are complaining about the moderator but he was just trying to get Peter to own this exact point since Peter was making Erik own this. I think the moderator was being fair its just that most people weren't on the moderator's level XD

[@Heathcz]

@@leirgauk didnt u listen? bitcoin can be send anywhere on the planet for very low cost without any interfence, thats SUPER useful and will only be more and more in the future globalization

[@josephsummerhays4650]

I don't care how the audience voted, Peter Schiff changed my mind. Even though he's wrong about a number of the technical aspects, I think he's right about the economics.

[@manoj-jd6mn]

He is wrong 9 times out of 10, n it is not a random statistics

[@bloodshredder1982]

@@manoj-jd6mn how so...

[@rmicone1]

I don't see how Peter agrees fiat won't work long term, but has no solution other a return to gold backed fiat? He has a speculation, Bitcoin is a working product.

[@dante040]

rmicone1 what? Bitcoin is nothing other then speculation. It has no value other then the market to buy and sell it. Gold has an intrinsic value as a desired metal with practical uses

[@TheTraderGuy]

Yep

[@M3A7]

+Dante040 LOLOLOL, How about 3 Billion in hardware connected to the network 24/7?

[@skoducks6071]

rmicone1, you make no sense. +Dante040, 3B and a network that isn't needed. I don't think you understand the concept of value.

[@GazerBeam420]

@sko ducks you must be some kinda ignorant shill, or if i dont make sense, it's because you lack the capacity to understand it. Would you like me to draw you some pretty pictures?

[@davedave1064]

The biggest problem with money being backed by gold is you can't trust the people holding the gold.

[@21Million]

There was never in history a money backed by Gold, but rather just partially backed. Pretty much every money that ever existed is fiat in the majority of its value.

[@bobski36]

Buy your own. I'd start stacking silver and gold while your paper dollars still have some value.

[@NjoyMoney]

@@bobski36 Its easy to say if you poor, where would you store multimillions worth of gold, in your matress?

[@Pinkie007]

Lol I was reading the comments while I was watching and saw all these comments about the moderator and was like “he’s not that bad, he’s barely speaking” until he started screaming 😂

[@chaosgamingtk8554]

Hahaha same🤣🤣🤣

[@danielandfrancineturner669]

One of the advantages I see with Bitcoin over gold is that so many bankers are hoarding gold that it's easy for them to falsify the amount of gold in the vaults which they have been using in there favour. We're with Bitcoin we have a powerful, decentralized accounting system that is slowing it's inflation over time.

[@zenonvandeventer5229]

There's many but yes that is a big one.

[@kurry6060]

Thank you REASON!! Voorhees killed it in opening statement

[@reecenichols7567]

I used to see Bitcoin trading as a side thing but it has proven to be a major source of passive income ever since I ventured into it

[@expert8717]

Bitcoin is lucrative people are just confused because of its volatility

[@yannickhanf362]

@@expert8717 can't agree more

[@jessiecoleman4870]

Reading about people grabbing multi-figures monthly as income in Crypto investment even in this crazy days in the market,any pointers on how to make substantial progress in earnings? would be appreciated...

[@expert8717]

Grabbing multi-figures in Crypto is possible with the right approach...no doubt Crypto is volatile which we've seen but committed investors are making passive income weekly and more grabbing multi-figures

[@expert8717]

Crypto is risky as many would say but I think the actual risk in Crypto is the fear of not investing

[@KnifiNtheHeart]

Hey simple solution buy both

[@hanspanzer]

that's the plan

[@alistairproductions]

33% crypto 33% metals 33% stock market 1% drugs

[@myles5158]

Matthew Alistair yeah? Why those percentages in new to this

[@jaycraford898]

- seriously, I don’t know why this is an issue or debate. Ridiculous

[@Basedmursenary]

Right!

[@Pharesm]

Thankfully, the key statements are made clear in the very beginning of this 80 minute video, which will save some people from having to watch the rest. Kudos and thanks to the Editor!

[@mbaron1702]

Peter Wins: Moderator lists heavily to port!

[@blessinggold6312]

Having adequate orientation or knowledge about bitcoin trade or any other cryptocurrency is a key to a profitable and a successful Investment. I can unequivocally say that Forex and crypto trading is one of the most profitable and lucrative business for every Investors with the right expert..

[@brightseven9476]

Well I must say people are scared because there are so many unprofessional brokers out there.

[@adrienneszczeblewski673]

I think I'm blessed because if not I wouldn't have met someone who is as spectacular as Expert Meghan Taylor

[@alexstones764]

@@adrienneszczeblewski673 Wow I'm just shocked someone mentioned and recommended Expert Meghan Taylor, I thought I'm the only one trading with her.

[@adrienneszczeblewski673]

@@alexstones764 You don't need to be shocked because I'm also a huge beneficiary of Expert Meghan Taylor .

[@adrienneszczeblewski673]

She is an expert trader I made £55,000 in 5 days of working with her.

[@CryptoNewsTV]

Erik Voorhees, is such a boss! Killed this debate. Crazy to want to do this debate with someone you have looked up to. This just goes to show the direction of our youth and the younger generation. Bitcoin and Cryptocurrency will only become stronger in the next 10 years.

[@wiljam12345]

Peter made some valid points, but Erik nailed it IMO. I love gold, i love bitcoin and i owe both.

[@wiljam12345]

@WolfLarsen85 How he got owned?

[@goldenbanjo197]

WolfLarsen85 your tripping. It was a pretty even debate. Do yourself a favor, get some gold and some btc and thank me later.

[@carokann4397]

@WolfLarsen85 this comment looks stupid now lol

[@Robot-Overlord]

It's impressive the bias toward bitcoin. I do think it's pretty funny that they argue against gold when gold goes into the processors and graphics cards that they use to mine bitcoin in a way legitimizing bitcoin moreso than the faith they use that everyone will suddenly accept it as a form of currency. The commodity gold is being used more as the parts to smartphones, and computers than as a jewelry which I think is incredibly ironic.

[@sergiootero5904]

That's why gold isn't money, because it's more like copper. Platinum is more scarce, silver has more industrial uses.

[@kdhoward83]

The best argument for BTc over gold is that the gold supply doubles every 50 years. If we find a massive trove of it, as we did recently, the value plummets.

[@nassimbaaziz]

@@kdhoward83 the value doesnt plummet

[@pomp4401]

It’s funny how coal is used to mine gold. Why are we not valuing coal more?

[@digital_gravity]

Gold's utility value is maybe 10% of its monetary premium. Lots of manufacturers would love it if gold lost all monetary value and was simply a commodity like aluminum.

[@abdulabadkumbati664]

Damn Peter is right. People just choose to ignore him because they're blinded by greed, they just see something that skyrockets in price and they go bullish on it. Now when the crash happens, then they go about life like nothing happened, then they wait for another bull market.

[@kurtjohansson1265]

To be fair, Peter is a Perma-bear. He always talks of the risk, almost never of the reward.

[@bahmak2003]

LOL PETER SCHIFF IS WRONG!🤣😂😂

[@tomsiddle7583]

We don't ignore him we just know Bitcoin is incredible technology that is here to stay, there will be many more crashes, as there will be many more pumps, but eventually the price will steady

[@animalshortsTV1]

Peter is wrong. He is ignoring the best technology which gives us the hardest form of money humanity have witnessed. Ever.

[@seesidesummerhouse6112]

In the short term the markets are a voting machine, in the long-term they’re a weighing machine. BTC has been weighed, and it has proven to be almost worthless.

[@realestate-s2z]

Peter's overwhelming approach made it hard for Erik to complete his thoughts. Peter made great arguments (and is a great debater) , but the ground swell behind BTC can't be stopped. And with the Fed expanding by 6 or 7 Trillion in 2020 and more really really really smart people buying it, like Paul Jones, BTC is here to stay. Just wait until the retail buyer can get it at Ameritrade. And then the Pension funds jump in. For BTC to work, it requires systemic believe. I hope that day comes before the Fed is given the "opportunity" to print 60 Trillion to bail us out of the next event!

[@MugenTJ]

So instead of reducing corruption and poor governance, you think a speculative currency can improve our way of life? Why would a corrupt band of thieves and thugs let us have a way to transact freely?

[@Whale15]

⁠@@MugenTJWe’ve tried reducing corruption and governance for 5000 years. The corrupt thieves won’t stand by. They will recognize it as the hardest asset and attempt to own most of it. Which is what’s happening now. It’s once of the first technological movements where retail can front run but sadly retail lacks info and believes boomers who still buy bonds

[@andywurst4873]

Moderator clearly was biases. His hypotheticals regarding gold were ridiculous.

[@davide8099]

Andy Wurst agreed

[@Brainbuster]

"was biased"

[@ShraderDesigns]

ridiculous? Do you think the technology to mine the ocean's gold is really that far away? Elon made rocket boosters that land themselves...

[@mrleafbeef634]

I'd buy gold any day since it has value. Russia, India, & China are stacking precious metals not cryptos. I wonder why?

[@FrankZen]

Peter Schiff needs to watch "Secret of Oz". Being backed by gold isn't necessary. The idea was to back it with something finite. Bitcoin is INHERENTLY finite. It's the lack of discipline that's the problem with fiat, not what it's backed by.

[@oscar6832]

Lol. BitCoin is finite? How many other competing blockchain currencies are there? With the same principle, surely you must be investing heavily in those aswell since they all are "finite"?

[@mzorzor]

@@oscar6832 > "Lol. BitCoin is finite? How many other competing blockchain currencies are there? " Lol. Diamond is finite? How many other rocks are there? XD

[@ShraderDesigns]

​@@oscar6832 How many other currencies in the world are there? Do you invest in all of them? BitCoin will only ever have 21Million units. Not all Cryptocurrencies are created equal. BitCoin holds 56% of the Crypto market for one simple reason. It is the original. When you have effluvia dangling out of your face, do you ask for a "Facial Tissue" or a Kleenex?

[@defcon2544]

@@ShraderDesigns if Bitcoin is the best, why do we have almost 5,000 crypto currencies? That can't be good, long term.

[@peskypesky]

Three years later and this debate is still totally pertinent.

[@BenSamuel-d6l]

5 years later and Peter looks like an even bigger idiot

[@bernardmailman8018]

Bitcoin progresses from being first a digital collectible to being a store of value. To being a medium of exchange, and finally to being the unit of account... Hodl gang Bitcoin..

[@ST-ys8lx]

Extremely bias moderator! Why is the host/moderator tag-teaming against Peter Schiff? What is his problem? Peter crushes him every time too but he isn't taking anything for an answer. It seems pretty personal to him too. He was shocked when he heard Erik agree with Peter and then changed up his statement by using Eriks statement to say "Oh yea that's what I meant." Peter is very quick-witted and comes right off the cuff with his debating too. Moderator, not so much. Just a lot of stuttering and aggressive questions about things that Erik has already referred to.

[@leonari]

Cause Peter is stuck in the psst and keeps shouting the same arguments singe 2012- very arrogant human bring and self serving prick

[@Rykbell]

Because the moderator has bitcoin and these guys can't have people explaining the facts that casts (warranted) doubt on it, they need it to go up so they can sell it to a greater fool!

[@MrDantres]

Both sides have good points (but I would say Vorhees owned the debate). If you can, just buy gold and Bitcoin. Never place all your eggs in one basket.

[@irishmangiant]

Don't be fooled for the lack of laughs Peter received. He wiped the floor with this guy, Erik. A government won't implement a currency that it can't control and it's really as simple as that. As much as no one likes that fact, that fact wins the day.

[@asdadadadad5416]

Exactly. People believe in some utopia where federal banks are defeated and somehow surrender their control to some decentralized system where money (including very dirty money) can't be traced, confiscated or banned. What's preventing federal banks from issuing their own gold-backed cryptocurrency, allowing easy and quick transactions, while still having full control over such network? What a joke.

[@jerrysmith3695]

He was a much better speaker, had more wit and knew his argument quite a bit better

[@Whale15]

99% of all countries on earth, except the US, has to implement a currency they cant control ever since Bretten Woods. EUR, GBP, ¥, Yen, etc all still exist and are controlled by their government but those countries are still forced to interact in global trade using USD, a currency they can’t control. Only a naive American would think that. The strongest currency wins. Not the one they can control. Bitcoin is the strongest to date and we are watching it conquer. Blackrock, Fidelity, Tudor Jones, Ark, Bridgewater, etc (Tradfi icons) all recognize this and they are buying in.

[@futureprogrammer880]

in 1995 most said the internet would be a fad, and would never become anything, we now look back at that and laugh, 20 years from now people will look back and laugh that people thought digital currencies were a fad and would never become anything. technology has always been underestimated

[@richarda.380]

future Programmer At the same time we also thought of internet being free of censorship and regulations, yet here we are.

[@oscar6832]

no, No, NO! Currency is going digital in the future, No doubt about it. But what Peter is saying is that it has to be backed by gold for it to function as money. And when currency does go digital, it's more likely that governments Will adopt the technology of blockchain and bitcoin Will be banned and go down to zero. ZERO!

[@billwilson6843]

biffson jr that won’t happen

[@oscar6832]

@@billwilson6843 Like they do with everything else of course - legislation.

[@thecirclemovement]

You are right but digital currency doesn’t necessarily mean Bitcoin.

[@jhk0428]

this moderator...why is he hijacking this forum to stroke his own ego

[@alstewart3540]

he ruined it. he made it all about him, he should have just let them debate without jumping in and getting involved

[@milleniallgt9715]

Exactly he’s a dumbass..

[@leirgauk]

@@milleniallgt9715 You're all dumb, because Eric failed to address the issue of gold having artificially inflated value due to it being used globally as a medium of exchange, which is exactly why we sadly can't use it to conduct electricity (it's arguably the best metal for doing so) to the degree we otherwise could've. Schiff sorta dodged that question, and I wish the moderator had pressed him even harder on it.

[@Azhucabomb]

At least he only became crazy when the debate was over and they were doing Q&A.

[@michaelhuebner6843]

Peter is absolutely correct when he says that gold buyers aren't buying gold to get rich. We buy gold to store our purchasing power so we don't lose value when the US Dollar is inflated with supply. When you buy gold you are not going to make money, but you also aren't going to lose money to the inflation tax.

[@happywednesday6741]

Why does Peter Schiff sell gold then? Lol

[@OceanConfection]

@@happywednesday6741 why do miners mine gold?

[@OceanConfection]

@@happywednesday6741 but once u buy gold again you have to remember that you don't losemoney nor do you gain money. if you buy a car and crash it will lose value

[@Whale15]

Gold inflates at 2% per year via mining. 100k of purchasing power becomes 82k in ten years. Not even counting opportunity cost by having money sitting in gold as opposed to other equities. Let’s do a ten year hypothetical investing 100k in Gold, SP500, Apple, and bitcoin. We will start in 2013 so we don’t have to speculate future values and just use history to teach us. Gold: $117,000. Got destroyed by inflation. SP500 index: $286,000. Shows average asset inflation since 2013 at about 286%. Apple: $1,100,000. Good for you. Bitcoin: $184,000,000. Fair enough though. Only some crazy dudes put in 100k at 2013 but you get the point. 1k would have gotten you 1.8 million. Gold was a terrible investment over the past 10 years and look even worse when you add more years. Will we make the same mistake for the next ten years?

[@Turboglazier]

I too learned a lot about financial systems after 2008 and peter had a part in that. I stacked and stacked and stacked silver but then this bitcoin thing came into view. I'm now on my way to being a bitcoin millionaire after 6 years of hodling and my silver is within 10%of purchase price after 12 years. Good to revisit these old debates

[@doyleelad1113]

I hope you withdraw your Bitcoin and come out a winner. Bitcoin is a bunch of people putting money in a bowl. Last ones to get out are losers. Its not an investment. It doesn't produce a good or service. Your silver holding is very different. That is a timeless commodity to store value.

[@Whale15]

@@doyleelad1113 Doesn’t your argument against bitcoin not producing a good or service refute silver as well? Even though bitcoin does produce many services. Sounds like you really don’t know what you’re talking about… Some examples of services bitcoin provides: Most secure asset on the planet. A place to store wealth that doesn’t get inflated away each year like gold and silver mining. A place to store wealth that a government can’t confiscate from you during a war or draconian era. A bank for 2 billion people who are currently unbanked. Peer to peer network where tyrannical laws can’t dictate how and when you spend your money. The ability to move large sums of capital at $5 across continents. This would have been nice for those who had gold stored in Europe during the world wars and lost it all.

[@thetruths7389]

48:30, the moderator try to outyell Peter. Maybe the moderator owns a lot of Bitcoin too?

[@spiceguy94]

Woah he exploded 😂😅

[@tmo2798]

Right now, Bitcoin is a textbook Ponzi scheme: It has no intrinsic value. You can’t eat it, wear it, or heat your house with it. ... It is not a productive asset. It’s not a factory that produces an item. ... It has zero underlying value. None. ... It has minimal utility. ... Its value is solely derived from the trust that the price will continue to rise indefinitely. ...

[@lucianopdx9647]

You can pay your taxes in Bitcoin . Cryptocurrency backed by gold already exists...

[@ownyoulikeaboss]

As long as you dont hold the gold in ur own hand it will always equate to a big fat 0

[@jetstreamdefalpha5411]

Bit coin already dropped so much in. Value 😂😂😂😂

[@Azhucabomb]

Centralized by the vault keeper.

[@twenty-fifth420]

Dogs Sing How is it a scam if it is decentralized? If you are going to criticize crypto, at least be substantial and not write it off as a scam.

[@jetstreamdefalpha5411]

@Amran Qurban I'm still laughing. Bitcoin is at its lowest RN .go cheack

[@XenophobicCrab]

This moderator is BULLISH AF on bitcoin! 😂

[@JensHove]

Yes, I liked him too.

[@MadMetalMacho]

@@JensHove I'm big on bitcoin but this moderator was garbage. Moderators need to be impartial.

[@JensHove]

@@MadMetalMacho 100% agree :-)

[@johnathantamper8133]

@Arabia Magna it doesn't matter if a moderator seems to take a side it hurts the debate. I bet your a liberal lol.

[@gamesdon12]

lol

[@garretttjordan]

If bitcoin is a store-hold of value purely due to its subjective value of being a medium of exchange, then so is every fiat. Including the ones that had subjective value before they hyper-inflated.

[@martinlutherkingjr.5582]

No, a store of value maintains or increases purchasing power over the long term.

[@NjoyMoney]

No, the value comes from turstlessness and beeing permissionless, there is nothing like that on earth.

[@LomanLawson]

almost every debate on bitcoin i've heard involved gold. and all I can say is, people will give value to whatever they want. gold is no different than bitcoin in the terms of people are giving it value and thus it's valuable. imagine if everyone really hated the color yellow on their jewerly? now gold sucks. all i see this debate as is demand one vs demand two. whichever demand is demanded more and supplied less, wins for value.

[@RandomGuy-nm6bm]

nice name

[@xpresstechmx4881]

Well, actually gold itself has physical properties that no other material has! www.straterra.co.nz/mining-in-nz/importance-of-mining/everyone-uses-minerals/gold-not-just-for-jewellery/ But, with that being said, cryptocurrencies have digital properties no other digital asset has. Both have intrinsic value in that sense, they both serve a purpose!

[@LomanLawson]

yes. i agree with mostly that. however, reality is where the world is shifting. in 100 years everything will be digital. currency as well and physical currency will be seen like we see pirate treasure right now. of course, the course can change, but right now, this is where the world is headed and cryptocurrencies now as just another baby step in that direction.

[@neenee8194]

Except gold is a precious metal that can be used in various ways. Money is much more diffecult to use then gold.

[@neenee8194]

@@brentancap There actually has been only 1 big dip in the value of gold in history :)

[@Keither1977]

Hearing Peter Schiff say Lambo was the highlight of this.

[@Scorch428]

well he still think 2000 is a lot of money when hes a multi millionaire....i assure you the new millenial millionaire will NOT think this way. Future generations are a lot better at percentages, in which boomers are terrible at percentages. Peter prolly still bends over to pick up a penny, not realizing its not worth the work. Now to someone who had a dollar to their name, it would be.

[@hellcat_tony7778]

Gold is gods money that demon inside the moderator came out quick 😂 Peter kept his poise like a boss

[@kikin310]

that is just nonsense, anything can be money, if gold was abundant on earth it would be as worthless as dirt

[@Likexner]

@@kikin310 but its not

[@kikin310]

@@Likexner you got a point there, at least for now

[@kelvinb16]

@@kikin310 nope gold is used in technology, you wouldn't be watching this video without gold

[@notyourmomyousnowflake3533]

Gold can be man-made, in fact it has been done in fusion reactions. Its just too expensive at the moment, but it was also too expensive to make lab diamonds a decade ago. Today lab diamonds are indistinguishable from natural diamonds, yet are significantly cheaper to make in comparison to extraction from the earth. In the near future, when fusion reactors become standard, common energy sources, gold will suffer the same fate. science is a risk factor for gold.

[@jstanton4561]

Schiff is knowledgeable and honest. My fave economist. He hit the nail on the head when he said it's a speculative asset.

[@snaggythethird2013]

well tell that the SEC that specifically says all other crypto fall under the asset-class BUT Bitcoin. Who is the SEC again? Riiiight the guys who are in charge of regulating assets.

[@btdoe3259]

Bitcoin is property. Crypto and NFT's etc are assets.

[@Whale15]

Gensler literally called it a Commodity.

[@dragline.]

The moderator and his psychotic break was more 'passionate' than either of the debaters, proving the platform's bias. A complete sham. Peter had the better arguments.

[@Mark1959Holladay]

This started out as a debate until the moderator decided to destroy the concept of a honest debate. Sad that peter had to be debating two which turned a "debate" into a really bad pile on.

[@TikangaMaara]

Deep knowledge & understanding that flows from a well spring of experience Versus: The reading of a compilation of blog posts + an inappropriate moderator

[@johnnyonny]

Peter is my mentor ! Keep educating us .

[@E_Clip]

Guess what, 3 years later Bitcoin still moves +/- 50% in a week. Pretty long evaluation I would say with no end in sight.

[@oyeahjustcomenting]

The bitcoin will stablize when finite supply is maxed out and the first cashing out by whales is over.

[@adenlind840]

@@oyeahjustcomenting why would it stabalize when everyone's in it to make a profit in fiat. As soon as it stabalize everyone will sell it because they are not making gains lol.

[@bazingapuzza]

3 years later is 5x lol. You wouldn't make that as the best trade in the world.

[@jonathanleclerc2788]

@@bazingapuzza oups.

[@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.

[@FrogFace64]

Let me get this straight (please do correct me) the question most boiled down is: what will we as a society value more- a) the various physical uses of a precious metal, or b) being able to connect, exchange, transact with our fellow humans completely freely, securely and (eventually) instantly worldwide. I love Peter, but... what's he smoking?

[@cmorebutts7337]

not free.. have to pay thru exchange

[@FrogFace64]

Meant free as in not controlled by anyone else

[@McTrollenstein]

A currency that exists on the internet, which the servers are owned by the United States government, I wouldn't call free.

[@jerrylisby5376]

Simon Maclean it won't be freely for long. You will have to take mark of beast to buy or sell in not too distant future. Seems related to me. Only those who trust Jesus will be saved. Btw God's money is silver and gold. He who owns the gold makes the rules. He who owns bitcoin makes the rules? Don't sound right.

[@FrogFace64]

​@@jerrylisby5376 Hi Jerry. I assume you mean more limitation/control from law and government? If so, I would agree with that. But it'll be like trying to ban the internet- simply impractical, and in the end, undesirable, in a globally connected world. Society and its governments will adapt to it as soon as they get over the fear see the benefits. He who owns the gold makes the rules... but only for all the other people who want the gold for themselves. That's not everybody. I believe people will grow out of this narrow minded hoarding mentality as the world begins to open up, relax, enjoy itself and connect. Bitcoin will be an excellent tool for such a world, and will help bring it on. As for Jesus, and God. I think your language is very mixed up here. Jesus's message was to trust yourself, and find the God in yourself. Not him. And gold is man's (main) currency, not God's. Isn't God pure and unconditional love? Slightly beyond petty currencies don't you think?:) Best

[@BenSamuel-d6l]

Peter says market topped at $20k.........5 years later its been to $69K and probably going way way higher. This is pretty funny with 5 years hindsight.

[@alvarohigino]

Yeah, he thought the bubble wouldn't go that long.

[@C_R_O_M________]

He still tries to figure a way to value "BTC the unit" when all the worth is in "BTC the network".

[@craigcandor]

Speaking of Venezuela, the DigiByte decentralized volunteer community is currently raising funds to help Venezuela.

[@gr33kfr3ak8]

Jesus Christ, this aged amazingly for Peter.

[@ReaderOfThreads]

You know, when something seems to good to be true, it is too good to be true. Bitcoin is a scam. A giant pyramid scheme.

[@roboticvenom1935]

I bought Bitcoin at 40k, I'm in shambles

[@JeDxDeVu]

how so

[@TheEvanOf]

Yes and no - this was on July 2018 when BTC was worth around $7000. Even though bitcoin is down 35% in 1 year today ( a huge crash) - its still worth $20,000 dollars

[@pedromartinstimoteodacosta1710]

How so? BTC is worth more now than 3y ago

[@MovieRiotHD]

He is wrong about bitcoin's value relying on speculators: In countries with instable currencies, people already use bitcoin as a store of value. Best example is Venezuela.

[@ledhalenV]

This is gold. Looks like Peter is on his way to winning his 5 year bet. Today is 6/30/22

[@EmpireBuilding]

Oops

[@NjoyMoney]

Celebrated too early huh?

[@jmfs2k273]

lol

[@robertvong]

Why is Bernie Sanders moderating this debate? :))

[@tompaulcampbell]

Weak!

[@cysn1]

“Apart from being used in transaction, Bitcoin is nothing” “For the [citizen], money is a medium of payment.” Ludwig von Mises Schiff is provably wrong.

[@nicosmind3]

What about Mises regression theorm? That money first came from that which was valued by most people in society, was easy divisible, easy to store, and had use etc etc. Ie all the reasons gold became a currency, which Mises valued and praised as a currency. So no, using Mises is just a quote mine. Youre wrong. And either repeating what you seen someone else say, or just lying yourself

[@cysn1]

@@nicosmind3 That's literally a whatboutism. lol.

[@cysn1]

@@BennyFitter 100% true.

[@AC-wl7ve]

@@BennyFitter the subjective theory of value could be used to argue any bubble in history.

[@Ccb161]

As long as the BTC will have good enough rallies where people will see that they can easily profit it will become more mainstream. Unfortunately the gluttonous will always loose, but anybody that has limitations will benefit from it. As more cycles pass, market cap will grow, thus less volatility, meanwhile improvements will take place, it will become faster, friendly user interference. Right now, volatility is the best thing that can happen to BTC, it brings people in... gets them hooked up and then they learn how good the tech is, how much potential and the possibilities.

[@shawnl3151]

Who’s here when bitcoin is 95k vs 7.8k when this was filmed

[@BrandonAEnglish]

Erik actually believes that most people who have Bitcoin know it, understand it, use it, and have looked at the code?? Wow...I've never met a single person who knows anything about Bitcoin apart from you can use it to exchange for some services and there's a chance you can make huge returns (or losses). Most everyone focuses on the latter. Peter is right.

[@bonsaitreehouse5534]

Most people don't know how fiat is made and all the security measures put into a $100 dollar bill. Eventually crypto will be no different then your credit/debit card where any average person will be able to swipe or scan a code. Changes to the account will be automatic. This is a new technology. It was the same way when modems were invented and a techy had to explain how the internet worked to the average person. Peter is short sighted.

[@phoenixexploration3301.1]

Man, that dude just would not stop interrupting.

[@zarni000]

What I don't get is why they are talking about Bitcoin specifically. I have no doubt in my mind that Bitcoin will NOT be the preeminent crypto. 1 - it does not protect privacy 2 - it is not efficient ( a bitcoin transaction is very slow, Erik is very wrong it is instant - far from instant) The only reason bitcoin has such a high value is because it's first mover. Eventually the market will find the value and people will flock to the crypto that is most efficient and protects privacy. A crypto backed by gold will also be very valuable to have but that may not be good for privacy on the other hand.

[@joejingojack]

Those are just two of the reasons. But there are plenty more.

[@zarni000]

i didn't say that was an exhaustive list did i?

[@brianyoung5310]

Therein lies the problem. When people, enmass, move from one crypto to another, there are going to be a lot of people late to the move who lose their shirts. Eventually, so many will have been burnt by this, that fewer and fewer will get in to the next "new and improved currency." There needs to be stability, which can only happen when there is one that is accepted by everyone and is stable. It may eventually happen, but it could be 50-100 years from now.

[@zarni000]

I have a very bad feeling that eventually we will all be forced into a government sanctioned crypto currency. It will of course be one that is not limited in circulation. it will be a fully cashless fiat system that is still centralized and again controlled by the fed

[@syzyphyz]

@@zarni000 I know Putin has spoken with some blockchain experts about a potential Russian national blockchain currency.

[@behrouz6625]

After an hour of listening to this I still don't see any reason why bc worth 50k.

[@ankitaharwal5886]

The biggest reason for BTC to go 50k is basically 21million hard cap. There can be never more than 21million bitcoins. So, it creates huge scarcity which make its valueable. The reason it seems to grows so rapidly insane is due its only around a decade old. So, its like an limited asset during initial discovery. Kinda like old ages when we can just easily get land by just making boundary around it. So, land appreciated insanely during those earlier times. Now land is very stable. So, will be bitcoin after a decade and decades.

[@brianreyes2121]

Because there is currently 28 Trillion US$ DEBT and last year total dollar supply in the world was debased by 25% because they just printed 9 Trillion Dollars out of thin air.

[@remitcapitaltradeontelegra2093]

Reach out to expert Mrs Faye fx for more assistance

[@remitcapitaltradeontelegra2093]

Her availability is on what's app 👇

[@remitcapitaltradeontelegra2093]

[phone]

[@hofniamwaalwa3724]

Old man has too much skin in the bitcoin game 😂

[@hume1234561]

Erik Voorhees is a brilliant mind. He has a lucid articulate style which commands intellectual vigour from the listener. A pleasure in every sense of the word.

[@kekkekson2484]

'every sense' bro

[@bobski36]

Until his cellphone battery dies and he's 'broke'. If he has a chunk of silver or gold in his pocket he'll always be able to get a tank of gas or something to eat.

[@rubenve79]

@@bobski36 When was the last time you paid for gas with a chunk of silver or gold?

[@_VISION.]

HUNH?!

[@holdingoffice309]

Both congratulations for explanations and for the arguments! We listen you with great attention and pleasure. In our opinion, it is advisable to own gold, silver and crypto coins. Greets from Romania !

[@martinlutherkingjr.5582]

Thanks for recommending this to me for the 76th time, KZbin. Always wake up to to this debate for some reason.

[@bernardmailman8018]

Peter keeps on insisting intangible goods like bitcoins have no value yet utilizes the intangible internet to convey his message. How ironic.

[@Synox89]

I didnt know the internet is a cryptocurrency.

[@wes3793]

@@Synox89 He's pointing out the contradiction of Peter's statement. Just because something is intangible doesn't imply that it has no value, case in point the internet being intangible yet having a great deal of intrinsic value.

[@Synox89]

​@@wes3793 I see I got this wrong. Thanks!

[@matthewmeyer8312]

The internet is free. It costs nothing to get space on the web, and it costs nothing to view it. The internet is free. If a website is worth anything its not because its on the internet but its because the service it provides fulfills a gap in the market. A massage is an intangible good, a massage costs nothing but since someone will pay to benefit from a massage it has service value. Crypto on the other hand is not free and no one can still figure out any use for it 12 years on from when it started except perhaps to purchase untraceable goods via the darkweb such as weapons and drugs and funding terrorism without being traced back. More so $100 of bitcoin costs $20 to mine. If bitcoin becomes mainstream currency the amount of energy used to update ledgers would mean $100 would cost $2000 in energy over a decade of use. More so crypto transactions can be processed at only a fraction of a fraction of a fraction the speed we can process payments. Blockchain for use to facilitate monetary transactions is fundamentally flawed it uses more energy than the money is worth and is so much slower than current processing speeds. More so bitcoin acts as a commodity going up and down based on demand. However its not a commodity. This would mean its a scam since it acts as something its not.

[@timssterr]

i feel like the crazy moderator brought the two opposing sides together. It was quite beautiful. lol

[@JohnRusso007]

Only one comment is not true "Government" fiat.....The Federal reserve is a Federal as Federal Express. The "Fed" is not a government institution it is a private business entity and no business should be entitled to a monopoly on the form of script or issue debt. notes.

[@mrniceguy3660]

JohnRusso007 Doesn't make a difference. Still centralized, still works with the government in terms of policy making and still allowed to happen by the government, because of the federal reserve act of 1913

[@ETRH6]

Mr Nice Guy could the government not do the same thing with bitcoin and partner with it or threaten to ban it?

[@mrniceguy3660]

Ethan Rhoads There is no need to ban it. There is no need to officially acknowledge it either because well, dollar. Bitcoin is not used in shopping these days, dollar is. Because dollar has the sort of confidence bitcoin will never have. Unless government starts accepting your taxes in bitcoin which it won't. Unless they make it centralized just like the dollar. The illusion that bitcoin can't be centralized is false. Free market has nothing to do with this, it's a separate matter

[@ETRH6]

Mr Nice Guy okay that makes sense I’m just learning about this stuff right now and I was really questioning this idea of everybody saying it will always be decentralized

[@Jameslawz]

Gold is a hedge, Bitcoin is an investment.