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

On July 2, 2018, Reason and The Soho Forum hosted a debate between Erik Voorhees, the CEO of ShapeShift, and Peter Schiff, CEO and chief global strategist of Euro Pacific Capital.
The proposition: "Bitcoin, or a similar form of cryptocurrency, will eventually replace governments' fiat money as the preferred medium of exchange."
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It was an Oxford-style debate in which the audience votes on the resolution at the beginning and end of the event, and the side that gains the most ground is victorious. Voorhees won by changing the minds of 15 percent of attendees.
The Soho Forum is held every month at the SubCulture Theater in Manhattan's East Village. At the next debate, which will be held on August 27, William Easterly, professor of economics at NYU, and Joseph Stiglitz, a Nobel Prize Winner in economics and professor at Columbia, will discuss whether free markets or government action is the best way to eliminate global poverty. You can buy tickets here.
Produced by Todd Krainin.

[@user-tq1qd3iu2t]

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.

[@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.

[@NoName-to5xl]

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

[@allaboutmusicmovies9606]

no doubt about that

[@clifflee01]

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

[@omarmahfouz5599]

Lose what exactly?

[@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

[@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.

[@ELISHA690]

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

[@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]

*Cynthia Edna mchenry*©🅾♏*

[@kememe95]

Big ups and big love for the awesome daily content. Because inflation devalues your savings, it compels everyone to be an investor. Meaning you need to preoccupy yourself or offload your time/energy to the study of investment opportunities both of which are very costly. Thanks to Craig Reeder for showing me the appropriate way to get into bitcoin investing and trading with his trade signal and investing guidelines. Investing and trading are more than just having TA skills. There is a big component of discipline and emotional maturity, that one has to work on! Time in the market vs. timing the market. If you keep that mentality as an investor, you will stay calm during the storm! Within some months I was making a lot more money and have continued on that same path with Craig Reeder

[@kememe95]

He mostly interacts on Telegrams, using the user-name.....

[@kememe95]

CraigReeder.....

[@JonathanNunes-ou3ls]

Building a good investment portfolio is more complex so I would recommend you seek Craig support. This way you can get strategies designed to address your unique long/short-term goals and financial dreams..

[@YasserTenagatki]

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[@JoshuaK.Coble22]

I read about him too on website . That is how I get connected to him. Thanks for putting this down here

[@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]

🤣🤣

[@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

[@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...

[@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.

[@sagarrai4693]

Joe Dumford 😃

[@evgeniakarunus9301]

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

[@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 ^

[@lucieneadg5837]

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

[@benjaminandrades8951]

@@lucieneadg5837 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

[@coltadonis7242]

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[@dowsonfox9862]

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[@dowsonfox9862]

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[@viktornasirvlad2492]

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[@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

[@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.

[@NdrHrlnd]

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

[@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.

[@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

[@nathannguyen2041]

Moderator was kind of obnoxious

[@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

[@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?

[@LoganJorgensenn]

As a newbie about to invest, you must have a long term mindset. Be careful on money usage, if you're not spending to earn back, then stop spending. Never claim to know - Ask questions and it's best you work with a financial advisor. I want to thank you Nikon Johnson For being my source of crypto education,

[@michealolmez3269]

I’m new to cryptocurrency and I don’t understand how it really works.Can someone guide me on the right approach to investing and making profit from cryptocurrency investment?

[@monroep.hunter]

I've seen different people talking about this Johnson Nikon he must be very amazing for people to talk this good about him.

[@michealolmez3269]

Oh please, how can someone get to speak with Johnson Nikon ?

[@LoganJorgensenn]

Telegram and He's verified

[@LoganJorgensenn]

@Johnsonnikontrader THAT IS HIS USER NAME

[@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

[@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.

[@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?

[@peskypesky]

Three years later and this debate is still totally pertinent.

[@user-tq1qd3iu2t]

5 years later and Peter looks like an even bigger idiot

[@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

[@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

[@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

[@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.

[@legendarybroz117]

Moderator: “yea yea yea Bitcoin yea yea yea”

[@Pouk3D]

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

[@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.

[@RJALLDAY616]

5 years later BTC is up 1000%+ and gold is up about 60%

[@bahmak2003]

Fact 😂😂😂

[@menamgamg]

Doesn't change anything about gold. BTC moves violently because of price discovery since it's new technology still.

[@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🤣🤣🤣

[@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?

[@robertmyers3459]

Never knew bitcoin could be so challenging! Kept running back to these KZbin videos to learn more about this your video is indeed helpful. Thanks

[@harrisoncharlton1964]

Who else think this bitcoin is kinda easy but is way to nervous to start

[@harveydaniels5115]

Sadly these are one of the changes in bitcoin profit is not always assured..

[@brandonhussain4258]

Growing an account requires dedication and Patience

[@aidanpatterson5430]

@@brandonhussain4258 .Not everyone has the patience and persistence to grow account. Some may end up blowing up their account.

[@jamiehussain2811]

@George Potter .Demo account are risk free

[@matthewkivnani]

Thanks for sending us here Michael Saylor💪🏼

[@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.

[@coyotepeyote]

@@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]

@@coyotepeyote 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

[@TXLionHeart]

For those interested in how the bet is going: BTC is up 14% since the filming of this debate. Gold is up 42% since the filming of this debate.

[@notjeff4281]

How much gold do you own?

[@spectermakoto9029]

bitcoin is a tool of speculation used to make a profit it can never store value if it is so volotaile

[@TXLionHeart]

@@notjeff4281 7.5% of my portfolio

[@madsgren170]

two days later bitcoin is up 54% since then. a.k.a - the day to day price is useless in the long term on both assets. Gold and bitcoin is the same by any measure.

[@lampkin9287]

The true is when the monetary system fail bitcoin will be the only thing excepted...

[@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.

[@bazingapuzza]

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

[@jonathanleclerc2788]

@@bazingapuzza oups.

[@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]

[@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.

[@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

[@chasemc69]

I sure do love a good, two against one debate.

[@martinlutherkingjr.5582]

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

[@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!

[@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!

[@imohfriday]

after 5yrs peter you re wrong

[@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.

[@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.

[@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...

[@seank7892]

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.

[@robertanderson9492]

[@raysmith94]

Your problem could be your stop loss is too close or you're watching your trades too much. Place it and walk away. Or you could just give up, trading isn't for everyone.

[@clairemiller1447]

@@raysmith94

[@robertanderson9492]

@@clairemiller1447 You're correct, I don't lose money every single trade, but my main problem is trying to let my runners run. Very rarely do I catch big moves . Instead they go a few pips in my direction, then go against me if when I try holding them. Also my entries could use a lot of improvement. A mentor would be amazing, but getting one is easier said than done. If it's not too much to ask, do you know any legit ones?

[@clairemiller1447]

@@robertanderson9492 < I know of one lady though, she is not a mentor per-se, but she is freakishly good at trading. From what I've gathered she used to work for a proprietary firm till she retired. Met her at one of those conferences, got to know her and we exchanged emails. Since she helped me, I've been making about $1000 bi-weekly. What I'm trying to say is the 5% of traders in the world that are consistently profitable are not on KZbin, they are just random/lowkey people no one even expects . Her name was Sarah Alderson by the way.>

[@elizabetharmstrong1355]

@@clairemiller1447

[@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!

[@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

[@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.

[@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.

[@BlAcKpHrAcK]

The driving force behind increased cryptocurrency values is the fact that no one can cheat for the first time in history.

[@raydead2670]

Underrated

[@sirkowski]

pfffffffffffffffHAHAHAHAHAHAHA Yeah, right.

[@an0nimus174]

@@sirkowski Yeah, right. And you cannot say that about gold. Educate yourself.

[@johannes6760]

Uhhh look at Tether Usdt, definitely cheating and fraud going on there.

[@an0nimus174]

@@mirrorneurongirl I think you missed intend of my response and I totally agree with you and understand the concept. My reply was directed to sirkowski.

[@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

[@TheDrMashup]

55:08 I think it's clear who won the bet

[@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.

[@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. ...

[@kurry6060]

Thank you REASON!! Voorhees killed it in opening statement

[@user-ji9rm5wc4j]

Without Gold, there is no Bitcoin Without Bitcoin, there is still Gold.

[@sebastianhofmann2658]

Awesome format and great speakers - I truly loved this exchange.

[@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?

[@aiyaaabatt]

This video won't age well for Peter Schiff.

[@DarknessRu]

yeah will see

[@youx457]

aiyaaabatt ..... Spot On !!!!!

[@Sammo212]

Says everyone until Peter is right.

[@cryptoelevator5039]

Nah, the Bitcoin Blockchain is almost completely mined in China by one single company "Bitmain", and it's about to exceed the power consumption of Japan. Bitcoin will be gone in under two years.

[@micha90210]

I think you didn't get / listen to his arguments

[@luciomarquesbemquerer5819]

People won't cash out of Bitcoin while it is the best currency available. Right now, we are cashing out of dollar into Bitcoin.

[@redman7472]

yeah, will love to know more personality. i really need more bitcoin groups on whatsapp ,telegram etc thanks

[@redman7472]

interact on W H A T S A P P

[@redman7472]

+ 4 4 7 4 4 1 4 1 9 8 8 7

[@gregdiprinzio9280]

The argument’s over. Schiff was wrong, again.

[@EricSmyth4Christ]

We will see in 40-50 years, not 5-10

[@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 !

[@TikangaMaara]

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

[@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.

[@michaelbhatti6846]

How can u be a risk fund manager and not have any exposure to bitcoin. I’ll say no more!!!

[@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.

[@a.carrierexploration]

Man, that dude just would not stop interrupting.

[@buppal51]

This didn’t age well for Peter 😷

[@mbaron1702]

Peter Wins: Moderator lists heavily to port!

[@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

[@jerrysmith3695]

3 years later and the volatility of Bitcoin is still strong.. it’s just went from the mid 60s to the mid 30s in a very quick amount of time

[@rlangston89]

Who won the bet? lol

[@philipmullins6235]

And 5 months after your comment Bitcoin is on a downward slide where it has lost a lot of it's value .

[@jerrysmith3695]

@@philipmullins6235 yeah, it’s crap

[@martinlutherkingjr.5582]

@@jerrysmith3695 Bitcoin always has 80-90% “corrections”.

[@radicaIarchitect]

Okay, let's check back next year

[@gr33kfr3ak8]

Jesus Christ, this aged amazingly for Peter.

[@guyfromthe80s92]

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

[@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

[@hofniamwaalwa3724]

Old man has too much skin in the bitcoin game 😂

[@davedave1064]

As soon as he said a ban was unenforceable he lost the argument. Do he really think in this world full of sheep that obey the governments every command. are going to dis obey the government.. Not sheep you say. Really? Wear your mask social distance, Close and bankrupt your business. No social gatherings even in you back yard. Snitch on your neighbors. No traveling ect ect ect

[@NoName-or4vm]

That moderator should never moderate in his life again.

[@timssterr]

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

[@andywurst4873]

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

[@davide8099]

Andy Wurst agreed

[@Brainbuster]

"was biased"

[@TShraderJr]

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?

[@dontundra2259]

I just started learning about crypto but I must say that peter makes a good argument about the store of value in his argument against bitcoins. I need to do more research though.

[@MugenTJ]

No need. It’s essentially a gamble. Have fun at your own risk. Peter is right. I rather have a piece of gold than some non-coin.

[@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.

[@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.

[@happypeter1983]

feeling good watch it all over again

[@LoYoL4E]

Truly!!!

[@richardjagel4052]

This was a great debate.

[@kesroner]

I didn't know the debate was between the moderator and Peter Schiff.

[@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!

[@angusjoejohnson1036]

Peter is right about gold. I'm a dentist. Warren Buffet said gold has no value. I wrote him and told him I can make $20,000 off making gold crowns from a single ounce of gold at 12 carat which is normal. Peter is wrong in that there is 10x or more gold in storage and un mined than reported. No one knows but we know how much Bitcoin exactly. Hard forks do not matter. When you buy Bitcoin it's like buying a Ferrari. Peter the Constitution calls for silver, not gold, to settle debts. You just learned something son. It takes $1500 in electricity and computing hardware to mine a Bitcoin now they estimate. It takes a bearded dude and a pan to mine an ounce of gold. There is less than 1 percent who own Bitcoin. Not a bubble. Not even close Peter. Very bad argument. My advise, own crypto and precious metal. Trade one for the other as whichever takes over. We b bot is way smarter than either of you guys and it clearly has 100k bitcoin in the short term (less than 2 years.). Personally, I'm buying crypto to get more cheap silver, not gold. Silver can heal, it is antibacterial, viral, fungal. Silver is way undervalued vs gold. Oh and Peter, I will do your dental work for gold, silver, several cryptos, even fiat. So yes, crypto has value, boy. We accept ltc,btc,eth,bch,dgb,and pxc(phoenix coin).

[@gman_78]

agree with you!

[@supaman7832]

Great post!

[@RedBricksTraffic]

Peter is right about Gold, wrong about bitcoin.

[@zachniedfeldt]

This is excellent

[@ncheese0703]

I have a question. if I look at a chart on a weekly basis and sometimes on a month basis then I see for every crypto currency that there is a center in the chart. if you cut the graph in half at this point and then reverse the rising line and stretch it out, it is identical to the falling half, only the angle is different and the rising part has shrunk. With this outcome, I can only say that all crypto is manipulated with software (AI) and everyone buys cryptocurrency that is in reality 25/30 percent more expensive than the real value.

[@Pracedru]

Not a very neutral moderator.

[@sanisidrocr]

agreed , but to be fair Peter was saying some ridiculous things and avoiding certain questions so needed to be pinned down

[@sotospeak415]

sanisidrocr how

[@jimmydane34]

sanisidrocr Peter just running.his mouth with ridiculous statements/arguments ..no way!?!? Lol Lol

[@leirgauk]

@@sotospeak415 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.

[@CristianoRonaldo-wt4oj]

his name is "Epstein"..