🔴 Peter Schiff debates Bitcoin w/ Barry Silbert at 2019 SALT Conference

🔴 Peter Schiff debates Bitcoin w/ Barry Silbert at 2019 SALT Conference
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[@peterschiff]

Barry Silbert is an obvious anti-dentite.

[@aboutmyfathersbusiness8324]

"There is no ceiling to the price of Gold because there is no floor to the Dollar. It's just a piece of paper."- Peter Schiff. Truth must be censored.

[@axlef1513]

Meanwhile, the price of gold is being manipulated and kept low to protect the value of the dollar. Try that with Bitcoin.

[@aboutmyfathersbusiness8324]

@@axlef1513 No need. It's a Ponzi.

[@Semi_Successful]

@@axlef1513 SoV is meant to be just that . not for profit. thats the difference. i like blockchain tech, STRONG financial tool, but not currency.

[@alexanderb7791]

Caught that as well 💯

[@786sami786]

One of Peter's finest performances. The calm and collected approach really does wonders.

[@araashmehta7719]

Maybe because he met the host haha

[@partwave431]

Unless you’re clueless and missed out on profit waiting for the sky to fall. Haha

[@BimboBrunch]

He is wrong about everything.

[@TheBlackClockOfTime]

I'm all for Bitcoin but oh boy that welcome speech was unprofessional.

[@araashmehta7719]

Maybe it’s part of South African humor lol

[@RankingRobert]

"all millenials will buy Bitcoin" no i will not, not interessted in digital ponzis

[@haunter2804]

lol when it crashes they will cry for a bailout

[@MrB1923]

You don't understand Bitcoin or what a Ponzi scheme is.

[@erwina4738]

Good job idiot, you will miss out BIG TIME

[@oneminutefixed5003]

why not? it's a great concept and it's always a good idea to maintain a diverse portfolio. I own bitcoin and would love to know how to own gold too

[@patrick_McD]

I mean you don’t have to dis peter before he comes on.

[@actualideas8078]

Patrick McD she should’ve stopped after grumpy and it would’ve been fine.

[@JensHove]

She was joking, but maybe a bit much.

[@nickshamplo7489]

peter is grumpy then they play the new cool bitcoin comercial.

[@TShraderJr]

Schiff is a Gold Salesman. He's invited to these things because it's funny to watch someone say stupid shit in front of a crowd. He is and has only ever been.... A Gold Salesman.

[@nickshamplo7489]

@@TShraderJr well i guess that makes the other guy just a bitcoin salesman.

[@kevinr.9896]

I manage a Dental Laboratory and we use gold in cutting edge dental technology, cad cam software, 5 axis milling etc.. this btc shill is completely clueless. Keep fighting the good fight Peter

[@olsvoll93]

This clueless crypto guy is not even engaging with the idea that crypto is not real money. How can you take a guy sireous when they wont tackle the main issue. He would rather talk about the market cap, young people bla bla bla, buzzwords bs

[@hankdaniels7384]

Kevin Runyon How much gold are you casting to actually put in people’s mouths today? I’d guess it’s nearing zero compared to 30-50 years ago.

[@TheRealSTR]

Respectfully, to Kevin and Martin, if you can't see the future of crypto and blockchain you two are the clueless ones.

[@olsvoll93]

@@TheRealSTR by all means, the tech is great. However the fundamental issue, money needs to be a store of value, and cryptos backed by nothing just dont have that property. I would not care if 100% of the worlds population used cryptos, its not an agenda. Its just the fact that money needs to be a store og value, and cryptos backed by nothing Are not that.

[@mcgullible5212]

@@olsvoll93 What is gold backed on?

[@fifteenbyfive]

People who know me know I'm tough on Peter Schiff but Schiff is killing it in this debate

[@xrpfreak7881]

Did I watch the same debate as you? I just watched Peter defend the horse and buggy with arguments like "automobiles are dangerous, they break down and there are no gas stations or roads".

[@fifteenbyfive]

@@xrpfreak7881 You missed a lot so I'd watch it again.

[@Alfie-ni7lx]

​@@xrpfreak7881 I watched someone who plays a big role in an investment company say hes putting all his money in Crypto without being able to name one use case for it.

[@fucuszullanti7877]

Alfie Coulson I watched a guy who sells gold for a living shill more gold to “create a demand” like he accused his debator of doing. The guy holds bitcoin, it’s already been classified

[@Alfie-ni7lx]

@@fucuszullanti7877 Incorrect use of the word classified. Also nothing you said makes my comment incorrect so im not sure why you botheres replying to me specifically. Of course hes telling people to buy gold he owns it himself and explains exactly why he owns gold the rest is up to the audience to decide weither to buy or not. Im a software dev and i think block chain is a very cool tech but its absolutely worthless as money

[@ronneymccarthy6448]

Barry was not a good debater and do not seem to understand blockchain and cryptocurrency enough to debate it against gold. I would like to see Peter debate Andreas Antonopoulos.

[@MrB1923]

It's no gold against Bitcoin. It's gold and Bitcoin against fiat. Bitcoin has more utility as money. Bitcoin is: Durable. Portable. Fungible. Verifiable. Divisible. Scare. Deflationary. Censorship resistant. No middle man required.

[@duncanfromunderthebridge]

Well unless it’s also useful for something other than giving it to someone else, then it’s still not money.

[@mcgullible5212]

@@duncanfromunderthebridge You can buy things with crypto. Open your eyes, you can even buy shiny gold with this.

[@duncanfromunderthebridge]

Bryan N Like I said, a use other than giving it to someone else. Buying things with it is simply giving it to someone else. Who is the end-user of Bitcoin, and what is the end use? Using it as a means of exchange is not an end use. As an example, one possible end use of gold is to make jewelry, and the end user is the wearer.

[@RussUmp24]

Very good point I think both Gold & Crypto will go bullish during next recession, fear in markets will do wonders for both and Bitcoin has not been in existence in a recession.

[@NineteenEighty-Four]

Power outage won't affect my gold.

[@du3lcitiz3n]

If the power goes out, and stays out... guns and ammo will be what you need. Food and Water. Not gold.

[@NineteenEighty-Four]

You can't keep what you can't defend.

[@gunners2583]

@@du3lcitiz3n In your effort to acquire additional food, ammo, and water, a common medium of exchange will be required, and the best medium of exchange in history has been and will most likely be gold.

[@Volleyball_Chess_and_Geoguessr]

@@du3lcitiz3n What if you want to trade but have nothing they want? Money is important as a medium of exchange

[@CaseyPlexy1]

Lol the power on or off won’t affect your gold. It’s going nowhere I promise.

[@matrixab4356]

I think the lady who introduced Peter Schiff was pumped and dumped by Peter. She salty.

[@savanluffy5223]

that's why it's called salt conference 😆

[@TheRightWay11]

I read this before watching and I didn't see any saltiness from her at all. Infact she looked like she was more convinced by Peter than the other dude.

[@ThePk7861]

She's great. Fuck peter

[@Bunjee77]

If I was working at Starbucks and someone handed me a piece of gold for a latte, I'd happily accept that...

[@tbomber]

ok but what if he handed you a piece of gold for 400 latte's? since that's the actual analogy here...

[@briangore4133]

PedestrianRage gold money accounts make gold divisible

[@Bunjee77]

@@tbomber someone walks into Starbucks and orders 400 lattes. Great analogy...

[@aaronoflaherty1341]

exactly what I thought

[@christopherlemacks6394]

Good joke

[@Seth133usmc]

Peter stomped this guy. Good job Peter! I really enjoy your perspective and intelligent insights. Keep up the good work.

[@jevindoachim]

Kek, u have no money.

[@zoltanbozzay3797]

the guy arguing that the value of bitcoin is based on cross border transactions admits it has no real usable value and only used insofar as governments restrict the actual currencies the bitcoin is always turned back into to be used @peter schiff you did good as always.

[@Reemoney01]

I own BTC and love BTC but Barry just got his a$$ handed to him by Peter.

[@AnonYMouse-ky4sg]

Jeff D How so?

[@plastifiedmetal5682]

@@AnonYMouse-ky4sg did you actually listen to the arguments lol?

[@AnonYMouse-ky4sg]

Nicolas Blouin Yes I did. Now that I’ve answered yours, why not answer my question?

[@plastifiedmetal5682]

@@AnonYMouse-ky4sg peter's arguments are just stronger. Where is the value in btc? There's none. Zero. Its a computer code that you cant do anything with it. Imagine an apocalypse on earth. Everything is down but you gotta trade to survive. Whats more likely, that you will trade a worthless btc, or useful things like food or guns? Aside from buying money, you cant use btc. In the long run btc will fail, it already started. People are all "oh its decentralized" when we dont know who created it nor how he created it. The person who created it maybe knows things we all ignore.

[@AnonYMouse-ky4sg]

Nicolas Blouin Understandable. Thanks for clarifying your points. Why do you think computer code can’t be valuable? Most of the most valuable companies in the world gain most if not all of their value from computer code. Digital items regularly sell for thousands and sometimes hundreds of thousands of dollars, and most fiat dollars are actually just computer code and are never physically printed. All of these things have value today and will grow in value tomorrow and the foreseeable future, but are obviously valueless in an apocalyptic scenario. There are many things you may change in your life or do differently that would not be optimal for modern day living if you believe an apocalypse is a likely future scenario, you’d probably dedicate you life to building an underground bunker and start stockpiling resources for instance. I agree you’d never buy Bitcoin if you were so inclined. As for it being used, everyone who holds Bitcoin uses it. Its usefulness is in its qualities that can’t be replicated anywhere else which make it uniquely suitable to store value, and this is evidenced by it retaining its yearly uptrend. It could go to $1,000 and still retain a yearly uptrend. What evidence do you have that the failure has already started? It’s completely normal for Bitcoin to lose much of its value before resuming its uptrend. Decentralization: Look into what makes Bitcoin decentralized. It solved a major mathematical problem called the Byzantine Generals problem which made decentralized money impossible to achieve before Bitcoin’s invention. We know how it was created, as it’s just computer code that anyone can look at and test for themselves. This is why so many Bitcoin clones exist. Satoshi can’t know anything we don’t know because it’s 100% transparent for everyone who uses it. A bit off-topic, but I believe this is the future of computer software: 100% open source, free for everybody to use, copy, and tinker with, just as it was originally before secret proprietary software began being used. Jack Dorsey, the CEO and founder of Twitter (who is a big Bitcoin supporter) just recently announced his intention to fund a non-profit project to do just this for social media, where Twitter will be just one client of a free and open network / protocol like Bitcoin.

[@user-uf3ms1bp2t]

Both these gents seem to be missing some serious points, let me explain: Peter doesn’t foresee bitcoin being adopted by the market as a store of value or medium of exchange due to the fact that a bitcoin (in the literal sense) are strings of numbers and letters. But this doesn’t take into consideration the built in economics and incentive structure that holds the bitcoin network together. Bitcoins stock to flow ratio overtime will exceed the S2F of gold, causing bitcoin to be more scarce than gold. Comparing bitcoin to fiat, paper, printable money is an insult to the actually scarce commodity that BtC is. It’s as if a digital element came into existence when BTC was launched. Ultimately the market is going to decide if bitcoin is valuable, and over the last ten years it has proven to defend its value proposition very well. In fact, as time goes on the defense and communication of the value proposition keeps increasing. As for the other gentleman, he said gold is no longer money. That is silly. As long as gold is a store of value it will have the ability to act as a medium of exchange. The biggest thing to ask yourself is this: will markets (people) continue to adopt and store value in bitcoin. Consider that it is scarce, uninflatable, a-political, programmable, and developed only in a direction that is positive to the network itself. Read: medium.com/@dergigi/bitcoins-gravity-e1674ad9f8e4

[@user-uf3ms1bp2t]

Joe Justjoe Total shit post. It’s ten years old and will be in its mining phase for the next 100 years. Reply to me in 20 years.

[@whoyatoya]

@consensus report....Speedophile Joe as he goes by in the cryptosphere circle is simply bitter and hurt these days. 6 years ago I tried to convince him to buy bitcoin at $50 but he out right refused. Then again at $250 but notta. Tried at 1k but Speedo knew better and dug in. I Urged him at 3k, 4k , 5k but speedo dug in deeper and resisted. So, now the only bit of solice and peace of mind Speedo gets is to join the Peter Schiff cheerleading squad and bash bitcoin. Gotta feel for the guy/grl who stares financial freedom in the face and blinks 😉 .....

@@whoyatoya Yo! CryptoKamakazee! Tyler Jenks, the guy who got both traditional markets as well as shitcoin as wrong as wrong can be is now on "live!" at his Diaperwave Utube channel. I'm banned but I sawr you there before. If ya head over, tell him Shitaki's grandaddy said hi...and that it was "noble" of him to cover the $5K losses he incurred for his partner in cluelessness, the lovely Leah. Make sure Leah knows I have a way she can get back at Tyler if she actually did have to pay $5K of Tyler's dummass $10K BTC bet. 40 fukkin years of market experience and he STILL wasting money on stupid bets instead of using it like a professional sugar daddy. Pitiful. No? I'll be lookin for ya at Diaperwave. :-)

[@sl523]

As an advocate for both Bitcoin and Gold, Barry approached this debate from a flawed perspective: 1. Providing statistics of peripheral information (e.g., Gen Y, Gen Z) is not central to the debate. 2. There was no need to hype potential future risk/return of Bitcoin versus Gold. Here are what Barry should have done: 1. Begin the debate by asking Peter to briefly explain Bitcoin and how Bitcoin functions (in return, Barry should reciprocate by explaining what Gold is and its roles in human history). This way, the audience gets to see if Peter is criticizing Bitcoin from an informed perspective or ill-informed one. 2. Invite Peter to a common ground that they both agree that the central banks are wicked and that fiat is destined to doom. 3. Now, ask Peter how he would send Gold to his relatives abroad. Explain to him how Bitcoin can do that without relying on a central authority. 4. Along the same line, ask how he can safely and securely transport Gold across borders (i.e., moving in and out of a country). Raise the security concern of being seen carrying tons of gold. 5. Then, ask Peter how much it would cost to verify the authenticity of Gold (time-consuming, requiring special equipment). Compare that with Bitcoin (free and instant). 6. End with the most important point - Bitcoin is censorship resistant and permissionless. Remind Peter that Gold can be seized by the government (e.g., Executive Order 6102 by President Roosevelt in 1933), while Bitcoin cannot. Conclude the debate agreeing to the common ground that the fiat system will continue to rob the wealth of our generations. It's also worth acknowledging that you (not sure about Barry) hold both Gold and Bitcoin, but significantly more of the latter. End the discussion saying that while you love Gold, you see several issues with Gold that is addressable by Bitcoin.

[@markBalentine123567]

there nothing bitcoin can do that gold can not do gold>bitcoin.

[@mgtowlife54]

My only issue with bitcoin is going from $20,000 to $6,000.

[@jonelectronics510]

Anything can be controlled, the EU has already stated they are looking at options to regulate crypto. Ultimately the governments will control ANYTHING, whether that be gold(ww2), currency(everyday), food(ww2) etc. History shows that everything can be controlled.

[@sl523]

​@@jonelectronics510 There is a distinction between "regulation" and "control". Most cryptos can be regulated and controlled, because they are centralized. However, Bitcoin cannot be controlled. There is no single point of failure. Unlike gold, Bitcoin cannot be seized. The most that can happen to Bitcoin is regulations. But even then, no regulations can seize Bitcoin ownership, transfer, and store of value.

[@jonelectronics510]

@@sl523 Bitcoin needs an internet connection....doesnt take much to remove that and then you have nothing....

[@KaiMukn]

Robert Kiyosaki once said ‘Gold is gods money and crypto is the people’s money’. Why not have both?

[@ViGuRouSTDE]

@Blake lol

[@hggryrdchgc]

Eventually, each country will have its own crypto, backed by commodities, priced in bitcoin.

[@keesdenheijer7283]

That's just one of Kiyosaki's few mistakes. There is no reason to believe that any god exists.

[@Ahenkel36]

Gold is God’s money, cryptos are Satan’s money.......

[@josh1158]

@@Ahenkel36 God is fake Bitcoin is real

[@encrypt3dbr0k3r]

Nice job Peter. Respect from the Bitcoin and Steem world. Although I am a "Bitcoiner" I still believe Gold will be king...BTC is entirely different asset. I also hold Gold and Silver.

[@playerzero2236]

I used to trade Bitcoin but that's about all it's good for. It's a terrible store of value, doesn't technically even exist, and just soaks up energy resources. I moved over to stocks for speculation and stack gold as a long term investment vehicle

[@endthe.1percent]

Peter won. Other guy sounds like the head of a Ponzi scheme.

[@gmtaa8819]

that's because he is...

[@joaopedrosilva116]

He's an early player, he needs to sell them, he's trying to creating demand

[@erwina4738]

Lmao u idiots will realize how are you and Peter are by the end of this year.

[@cryptoholic5120]

Erwin Ahlers they’re minds are completely closed man. In the words of Satoshi: if you don’t believe it or don’t understand it, I don’t have time, sorry.

[@SabbathSOG]

This girl does not know how to do an intro.

[@MrDaymien1]

who cares , she looks loverly .

[@williamsgoldanddiamonds6239]

Yea, it was a bit cunty

[@ThePk7861]

She's great

[@thinkyoucan5157]

When elite athletes start competing for a bitcoin trophy I'll start buying it.

[@islandbee]

Even better. There are some players getting paid in Bitcoin.

[@Korporate_Krypto]

Yuppp a lot in the NFL

[@TShraderJr]

This is why your poor.

[@islandbee]

@@TShraderJr Your improper grammar is why you're poor. 🤓

[@kingtrawal]

And this is why you’re going to be poor your entire life. That’s OK your children can work for me

[@QurikOfficial]

Why does he belittle Peter calling him a "goldbug" if he's right about Bitcoin?

[@sip5123]

@@realchurch2693 Also spewing total bullshit about energy Bitcoin mining would consume. It doesn't scale linearly, he doesn't know shit about technology and is crying for another crysis and increase in gold for the last 6 years. Btw I think you should have some gold and some Bitcoin. But one is store of wealth for when shit hits the fan and the other is a developing technology that will change the world.

[@TheHeretic435]

Goldbug is not a slight. ??

[@luckylui3282]

@@realchurch2693 : But not a psychopath.

[@araashmehta7719]

@@sip5123 hey I think Bitcoin does consume a lot of energy. You should have a look at the carbon footprint statistics their pretty glaring. I mean what would happen if we had to provide Bitcoin to the whole world. Bitcoin already takes as much power as Switzerland.

[@lazaruslong1971]

Peter just kicked the s**t out of Barry. Good debate.

[@du3lcitiz3n]

Agreed, but Barry will get the last laugh.

[@lazaruslong1971]

@@du3lcitiz3n I think it would be silly not to own both. I prefer silver so that is what I buy.. but I also own Bitcoin for the exact reason Peter said... I expect it to go up. Cheers

[@du3lcitiz3n]

@@lazaruslong1971 I prefer Silver to gold also... and own some... as well as BTC, BCH, ETH, LTC, ADA, and even some XRP. Just in case the bankers and corporations win. Ha

[@fsmoura]

#XRPArmy #$589 #📈

[@tonyneville4425]

Lol peter excepts bitcoin as a payment look at his website

[@subproc05]

To start the conference, I would like to introduce Peter Schiff, which I personnaly don't like and think is a wack job. The other person is an amaing visionary person and my personal friend. Please welcome them both. LOL

[@zblot6415]

Intro lady was uneccessarily rude to Peter Schiff. Not a proper way to introduce a guest.

[@zenaslloyd5074]

Haha “there is a sucker born everyday” Can you get anymore alpha, Peter?

[@milleniallgt9715]

Zenas Lloyd Then why does schiff own bitcoin? He accepts bitcoin on his Gold website for crying out loud. “Bitcoin accepted here” if he didn’t like it he would t accept it or own it..

[@TheMrdrew86]

@@milleniallgt9715 do you honestly think Peter is basically trading BTC for gold? He is a broker. Lol

[@corysgood881]

@@milleniallgt9715 LOL he doesn't own it, has has a converter company who converts the bitcoin into dollars. He will accept it because why not? That is like saying why would Peter accept the Canadian dollar or the US dollar? He doesn't believe in the US dollar but he owns it and trades in it.

[@ksdreger]

Barry is 100% crypto's - right there he is saying he's a bad investor. Good investors diversify.

[@alexp.2897]

He is ALL IN CRYPTO and calls himself an investor?? Was this a debate or did you come to shoot fish in a barrel Peter?

[@vorrzaaa]

@@realchurch2693 You are clueless if you believe that. The only true investor is a value investor. Everything else is speculation. Investors buy businesses, they are happy to see something they buy go down, so they can buy more. Seth Klarman, Warren Buffet etc those are investors. Barry 'ALL IN CRYPTO' Silbert is a extremely agressive wild speculator, if he actually is all in which i highly doubt. He is about as far from an investor as one could be in the world of finance. And yes that also means Peters gold fund, which is not an investment, but a speculation on future events. Just like Barry Silberts. I think you can make a good case for Peters speculation being more conservative/less risky, but thats besides the point. Both are speculation.

[@aCycloneSteve]

For me, what was most frustrating is his answer to what is the utility use of bitcoin. For gold we have jewelry, electronics etc. (Store of value or speculation is not a use) For bitcoin he said international remittance... What? That's not a use, or if it is then every currency qualifies. I have gold, I have bitcoin, but I'm under no illusion. If the grid goes down my bitcoins are gone. I'm SPECULATING in bitcoin, investing in real estate and insuring myself with gold.

[@vorrzaaa]

@@realchurch2693 You are contradicting yourself and you seem to have some troubles with reading comprehension. Either way, your definition of an 'investor' makes no sense.

[@aCycloneSteve]

@@realchurch2693 Like all things, it depends on your definitions. If my bitcoin goes back up to $20,000/BC I will sell some to cash out some profit but hold some to keep the potential upside. To me, that is speculation. I buy real estate with cash, to me that's an investment. If I used debt to buy it, THAT would be speculation. If my gold goes to $2,000/oz I will do nothing. It's insurance. The Fed and fiat currency has been great for speculators and "growth" but I suspect most of the low hanging fruit has been picked so now is the time to save for a long, cold winter. IMHO

[@vorrzaaa]

@@realchurch2693 A investment doesnt have to go up to be a good investment. I want my stock investments to go down. So i can reinvest dividends at a discount and accumulate more of the businesses i want to own at lower prices. Price is what you pay, value is what you get. You dont understand true investing.

[@plexasm3623]

Anyone you debate who needs to defend the stupidity of alt-coins has already lost.

[@rchicks22]

Crypto currencies are unlimited. I don’t see how this fact is so misunderstood.

[@johnnygalt5867]

"gold is just a rock". a rock that is monetary history and has been the basis for the rise and fall of empires for thousands of years. it also happens to be a rock that is being hoarded by smart gov'ts and central banks.....just a rock.

[@EDTHEWATERGUY]

Gold has all the attributes that make it the best means of exchange. Gold is portable,fungible,durable,divisible,malleable,finite and it holds it's value. Cryptos are portable,divisible and that's about it.

[@SL-ml6fy]

It’s a metal

[@fsmoura]

it's an element, not a rock

[@kestas7433]

yellowman, slept chemistry classes trough. gold is a metal not a fucking rock.

[@johnnygalt5867]

No shit it’s not a rock. Did you see the quotes? It was sarcasm. And you guys are calling me dumb???

[@javonwells1354]

Schiff is right about gold, but wrong about crypto. Silbert is right about crypto, but wrong about gold. Gold/precious metals are not going anywhere, and for the foreseeable near future, neither is Bitcoin/cryptocurrency. Both asset classes have value.

[@luckylui3282]

Old snake oil meet the new digital snake oil.

[@markBalentine123567]

crypto have no value its value is only what people are willing to trade thats it no other value whatsoever of it

[@javonwells1354]

@bochap21 The US dollar is based on debt. How sustainable do you think that is, long term?

[@javonwells1354]

@@markBalentine123567 Uhhhh... yeah... just like any medium of exchange. So what's your point?

[@markBalentine123567]

@@javonwells1354 its only have value because people trade crypto for different one and then fiat so therefore no it's worthless :)

[@adamr7981]

Peter you don’t understand the technology It’s like this JPMorgen needs to buy a lot of precious metals and it does not want to compete with 🐑 That is why 🐑 must buy bitcoin

[@sourpower218]

keep telling that to yourself buddy, let me guess, you happen to own some gold and hope it goes up. good luck xD

[@scottydoeskno328]

This was a lets let Schiff talk for 90% of the time while Silbert talks about dentistry debate. Let's see Schiff debate Andreas Antonopoulos, someone who can actually articulate beautifully.

[@ProofOfTech]

Gotta be fair. Silbert was pretty nervous.

[@joaopedrosilva116]

Even tho i agree with schiff, I do want to see Andreas counter points

[@Jcoughlan]

Just started watching this... i'm a bitcoin investor but... Peter schiff might be grumpy but he is in no way offensive....you have to respect the guy even though you might disagree with him. But calling him offensive is a bit bellow the belt.

[@axlef1513]

He interrupts consistently. I have been watching Peter for about twenty years. The man has given sound advice I have heard that helped me a lot through the years. I bought into gold at $300. I heard him debate Art Laffer and Ben Stein back in 07' and studied the information as a young man. His advice was sound and it saved me a lot of heartache and money. That being said, he is out of touch now. He has been telling people for years not to buy into the stock market because its going to crash. Meanwhile it has had exponential growth, far beyond that of gold. Is the market going to crash? Hell yeah, but he was about six years off and cost a lot of people a ton of money and the advice he is giving in regards to Bitcoin is biased. He is a gold salesman. Think about it. Would you take a used car salesman opinion on the car you are considering buying? Yet you take heed to a gold salesmans advice on a competitive form of investment. Hah.

[@Jcoughlan]

Axle F yea I agree, he is biased and well out of touch. But I don’t think you can call the guy offensive.

[@kk3577]

@@axlef1513 lol your comment didn’t age well, especially since the market crashed this year. Peter knows what he’s talking about..

[@du3lcitiz3n]

I own PM's and Cyptos... food, water... guns, ammo... bottom line be prepared for everything.

[@AnotherAnonymousFag]

Never know when that zombie apocalypse is gonna hit huh?

[@du3lcitiz3n]

@@AnotherAnonymousFag Zombies are just hungry neighbors who didn't food prep. ;-)

[@steelrain5626]

And what happens to all bitcoins when hit with an emp. People don't realize how close we are to going back to paper and pencil.

[@dcocrypto7446]

Back in the 2000 tech bubble people were saying oh the internet is just a phase and will die out. Today the internet is becoming the primary source of business, industry and human interaction. I saw a guy in Singapore using 3 phones for example. I’ve been a web developer for 17 years and can say that the underlying blockchain technology of bitcoin will create an internet 2.0 why? Because it allows information to be stored an community based network of computers instead of a centralised web server which can crash, be shut down and costs a lot to run. I’m paying $15 a day to run some of my sites on high performance servers that can handle high traffic, but in the future i look forward to hosting them for free on a network of servers that’s distributed globally which will reduce server load and proximity from server to user, making the sites robust, immutable and that load quick smart. Good luck trying to explain that to the older generation. I had to show my mum how to attach a photo to an email ten times before she stopped asking me to help her. That was only a few years ago on gmail 😂

[@DiarrheaHandful]

"A new sucker is born every day" is a phrase that got peter chuckled at before the debate even begins, as if it's not a true statement haha

[@maratt88]

Sure, but he is insulting his audience.

[@jrmm4507]

@@maratt88 facts dont care about your feelings

[@zoltanbozzay3797]

"suckered into this pump and dump scheme because they saw some young kids who took their barmitzfah money and now they bought a lambo" u rekd him. had me dying hahaha :D @peter schiff

[@TheHeretic435]

But it probably is true.

[@MeZzZzZzZzZzZzZzZzZ]

It's about damn time this got uploaded.

[@GoldAndSilver988]

Peter's like a master professor trying to teach a 101 course to a high school dropout.

[@climatetech511]

History professor, backwards looking.

[@milleniallgt9715]

Sharrard 😂 yea sure buddy..

[@climatetech511]

@Sharrard Didn't you learn anything from the video?? Gold=Money , Fiat=Currency... 😉

[@climatetech511]

@Sharrard In your scenario, everyone dies.

[@GoldAndSilver988]

@@milleniallgt9715 You must be in the same drop out class as that guy.

[@drewmichael9173]

Lmao Peter killed this guy

[@williamhenrybonney9939]

This bitcoin Silbert guy went into a boxing match against a seasoned champion-- poor Barry is getting destroyed.

[@matthewelliottheinen]

Did the crypto guy set the debate up as part of a promo campaign, cuz it sorta feels that way... Also seems like it got cut way short

[@vvolfflovv]

Respectful discussion between Mr. Madoff and Oliver Jewelry

[@SabbathSOG]

is one for big going. Let's say you're trying to escape from a country that's a tyranny. And you need to bribe the guard what would you use gold or Bitcoin?

[@cdawg9149]

Truth Maybe we could ask a few guards in Venezuela which type bribes they prefer. That would make a great interview.

[@xXxVeXxXx]

@@cdawg9149 national guards are not poor in venezuela. We have a narcogoverment that can easily sustain itself. They created a crypto backed by oil to launder money that's why you don't see that many military people switching sides even tho there's nothing. Just clarifying... On the other hand the opposition started to used crypto to make transactions since money it's basically worthless over there but not anymore bc the government watches energy consumption and knows when you are mining and will go to confiscated your computers to use for their crypto network. Since there a exchange control nobody owns dollar so nobody can buy bitcoin anymore.

[@cdawg9149]

@@xXxVeXxXx How does gold and silver do in Venezuela.

[@digitalgemtoken1314]

I think there is a place for both Cryptos and Gold, they are not mutually exclusive, you can own both as a hedge...

[@CosmicCosmo1]

Gold backed stable coins I'd think would be the future. A digital currency that can be redeemed in physical gold but also operates as a debit card. Bitcoin is too unstable to be a good currency but the low transaction costs are really nice. It's just high of transaction costs to buy through coinbase

[@Semi_Successful]

Barry had to double check to make sure he wasn't wearing any gold today lol

[@EricSmyth4Christ]

Gold has an ounce of imaginary value and a pound of real value Bitcoin has a pound of imaginary value

[@2DEKAY]

And you have an ounce of knowledge on both asset classes.

[@fucuszullanti7877]

Malicious Upload more like a gram

[@austinkearney9965]

Peter Schiff 2020

[@meetstepsisalcoholicdouche6167]

Dan Bloop Peter the new Great White Hope!

[@christopherlemacks6394]

@@meetstepsisalcoholicdouche6167 "The Great White Hope" ?!?!?!?! What is this i am reading hahahaha

[@easystreet8533]

He used ripple, XRP as an example. Bitcoin doesn’t settle instantly or cost only .03 cents, per transaction, That’s XRP - ripple.

[@benstr8156]

I thought Barry also owns XRP. He just doesn't talk about it.

[@Sam-by3kk]

Gold has value because of its limited supply. Bitcoin has value because of its limited supply. Gold has utility in technology, dentistry, jewelry and other mechanical fields. Bitcoin has value as it's the 'federal note' and the 'gold backing it' in one. It fuels the progress of technology and solar power, and is immutable. Gold is scarce, but there may always be more. (other sites found, heck, being futuristic maybe other planets) Bitcoin is scarce, and there definitely won't be more. Gold is physical and tangible. Bitcoin is not. You decide. I think they're both good, but it's pretty obvious Bitcoin isn't going anywhere.

[@luckylui3282]

And both are completely devoid of anything related to the real economy. Yippee "sound" money to the rescue!

[@pehlavoon]

What a rude and horrible intro. This lady is definitely an intellectual midget and only had insults. So women can talk to us like that and we just have to take it? I wish Peter shut her down.

[@leroyjones6170]

They were a sorry team.

[@EDTHEWATERGUY]

The excuse they make for cryptos is the same excuse that can be said about tulip mania. Alot of people made money on that stupidity too.

[@fringestream990]

E.L.Dorado bitcoin can be used for bubbles but it’s open source software with a transparent ledger anyone can inspect. Meaning nothing to hide, that’s an asset to society but it can like anything free be used for the wrong purposes

[@brennanhm]

Tulips went to zero and never recovered. Crypto has crashed 80-90% several times but always makes new highs.

[@EDTHEWATERGUY]

@@fringestream990 Bitcoins are as useful as email and also worth the same.

[@fringestream990]

E.L.Dorado that’s not what my coinbase account says at this moment.

[@EDTHEWATERGUY]

@@fringestream990 Because there are alot of greedy dumbasses that are falling for the scam.

[@SilverShardOnline]

TANGIBLE is a key factor to be qualified as 'Money' and bitcoin is not tangible

[@Spilly42]

Email is not tangible either, but it still has value. Data has value. Functions have value. Why must money be tangible, if value does not require tangibility?

[@williampittman7153]

Wow. That introduction was something special. You would have thought she could have at least made the attempt to be impartial or sound that way.

[@ibvocean]

Crypto is 11 years old and gold is over 5000. I am sure at the very beginning before gold was adopted as a universal currency, people had their fair share of uncertainty and doubt about the new shiny metal. To say gold is useless is absolutely a big mistake, but to declare bitcoin dying soon even though it has supposedly died numerous times before is simply stuck in the pre-Internet age. Many more things previously thought impossible have turned out to be integral parts of our daily lives now. KEEP AN OPEN MIND!

[@BrentNally]

It astounds me why people don't simply ask Peter Schiff and other Bitcoin haters this simple question: "What date do you predict Bitcoin will be trading at $0.00 USD?" That's the most important question that I've never seen asked in these silly debates.

[@BrentNally]

@Blake I don't know when Bitcoin will be worth $1,000,000 USD and it may never reach that price. I'm simply stating that Peter Schiff has consistently been wrong about Bitcoin's long term price predictions since he first learned about Bitcoin yet Peter just keeps stating that Bitcoin is going to fail without sharing a specific date on when Bitcoin will fail by. This is comical just like a magic trick that you understand and others don't. Every person I've seen debate Peter lets Peter get away with this by not asking Peter to share a date when Peter believe Bitcoin will be worth $0.00 USD. Financial predictions without timelines are meaningless. If it's not already blatantly obvious why this is important, it's so that we can arrive at the date when Peter believes Bitcoin will be worth $0.00 USD and settle the debate with the Bitcoin price on that date. If Peter will not share a date when he believes Bitcoin will be worth $0.00 USD, then Peter is exposed as a fraud.

[@BrentNally]

​@Blake No. Peter needs to give a specific date when he believes Bitcoin will trade at $0.00 USD if Peter wants to be taken seriously by intelligent investors. Here's why: If, for example, Bitcoin runs up to $947,321.34 USD by the year 2039, then slowly comes down in price for the next 20 years because other cryptocurrencies/blockchains overtake Bitcoin as the best form of money and Bitcoin comes all the way to $0.00 USD finally by the year 2059. Lets just assume the USD doesn't hyperinflate by 2060 and continues to have about 2% inflation yearly from now until 2060 (at least according to the official Federal Reserve numbers). In this scenario it doesn't matter if we believe this USD inflation rate is likely or not; rather, it's simply so we agree on the value of the USD for this exercise. In this scenario, intelligent investors would clearly say Bitcoin was a great investment from January 3, 2009 until 2039 and that Bitcoin started a new and better form of money until it was outcompeted by the free market by better digital monies/cryptocurrencies/blockchains. Then, lets say Peter dies in the year 2060. In this scenario, Peter would be correct if one allows Peter to state “sometime in my lifetime” because Bitcoin traded at $0.00 USD the year before Peter died. Yet, also in this scenario, one would be missing the greatest points which is that digital free market cryptographically protected money is here to stay in the year 2060 and Bitcoin was simply the first iteration of this and you should have been investing in Bitcoin since 2009 rather than listening to Peter who has been wrong about Bitcoin for 3 decades (in this scenario). So, intelligent investors should be investing in Bitcoin and other cryptocurrencies they believe have competitive advantages over Bitcoin rather than listening to Peter who has objectively been wrong about Bitcoin and constantly blatantly lies about Bitcoin by saying ridiculous things like "Bitcoin has no value" when Bitcoin objectively does have value because people are trading it for other things of value.

[@neerand]

Because there is no end to stupid people in this world. As long as there are stupid people who can afford to buy bitcoin, this bubble will remain. The moment the fool runs out, that’s when bitcoin will hit the floor with a loud thud.

[@zacharykropidlowski172]

Your thought process is dumb on this one. Human Action dictates that date. When large portions of bitcoin investors realize its a ponzi scheme they will dump it, the price will collapse, and the point is proven. Human Action...

[@BrentNally]

@@zacharykropidlowski172 You’re missing my point. So, I’ll ask you the same question: When do you predict BTC will trade at $0.00 USD (or equivalent of new USA currency if USD hyperinflates and becomes worthless and is replaced with a new USA currency)? If you can’t share a date as your best guess, then you’re also proving my point, which is that Peter’s argument (and yours) are worthless without sharing a date when you believe BTC will be worth $0.00).

[@joel9186]

The lady that introduced is out of control. She insults Peter. Gets offended about someone saying drop gold, because she's south African. Then introduces the other women as very talented , beautiful and smart. Tarded

Nonissue. Most of us here agree Petey is both smart n beautiful. Everybody knows 2 outta 3 ainn bad.

[@fsmoura]

wahmen, nuff said

[@pistolgrip8655]

Fidelity Investments are now mining.

[@worthlessfiat8516]

Actually they have been mining for years , but what do they know right 7 trillion in assets haha

[@Chipwhitley274]

What an unprofessional announcer... insulting a guest. And not equally... even during her glowing introduction of Peter's opponent, she managed to insult Peter even more.

[@miketrav]

When you have been calling bitcoin a scam and going to zero since it was 50 cents. And now it’s worth 8 thousand dollars. You kind of lost the argument.

[@miketrav]

Link? It is a well known fact. Look it up. Peter called bitcoin a scam and going to zero since 2011 when bitcoin was a dollar. Peter made a career off saying everything is going to crash. And every 10 years something crashes and peter says see I told you so. Its called th markets. Shit crashes then comes back stronger.

[@miketrav]

Chinie Chin Chen 陳小城 kzbin.info/www/bejne/Zn2ahIKGebSprKs. If you listened to Peter in this video from five years ago you missed out on becoming a millionaire from investing in bitcoin

[@nidgemorphie4316]

This is an example of someone who has invested their life into Gold and doesnt want to see it fade away compared to Bitcoin. Desperate shallow arguments when you have nothing else.

[@JoelBondurant]

Bitcoin and gold! Anything but USD.

[@MrADTNZ]

They both work together

[@andrewking9435]

The millennials don't seem to know history of economics and money

[@ahon446]

This bitcoin guy sounds like a sales man . He has no clue of what he is talking about .

[@ryanryker3298]

Just FYI. I opened a gold money account based on peters lies that you can purchase things with your card and your gold holdings, while this is available in some countries it is not available in many, including the United States. You also pay outrageous fees to purchase and have to pay a storage fee as a percentage of your holding. On the other hand I just bought a pair of Chuck Taylors with my BitPay card as easy as any credit card.

[@thomastheram5331]

Thanks Peter for being a voice of reason in all these digital illusions and CIA created track n trace technology!

[@p__shifter]

Haha Barry is far more uncomfortable than Peter. Throughout episode he has been trying desperately to antagonise Peter and Pete is just not taking the bate. I myself must acquire this skill.

[@gre6821]

to debate a digital asset. Lets add a few zero's to my balance. I want to be rich quick.

[@_arkel7374]

problem is the rest of the world won't acknowledge the extra zeros you put on our balance.

[@pablo369]

Libertarians should be investing in both gold and bitcoin. What a shame.

[@philleach6271]

Bitcoin up 25% ish from when this interview took place . Gold up 2 %

[@chicagoelectricbicyc]

Did you sell and cash out?

[@jayd2230]

Bitcoin is now down 12% 🤪

[@mace2142]

bitcoin electricity consumption argument is non-valid.

[@JuanCarlos-sd3xx]

I know right. What about all the energy needed to store and guard gold. What about that cost?

[@mace2142]

@@JuanCarlos-sd3xx that is true but not the reason, Bitcoin in itself doesnt care what hashpower it has, as long as it is unfeasible to attack, any extra hash power is there purely because the incentive to mine follows the asset price. halvenings later, after speculatory crypto decades, when it is all said and done, we will have ust the hash we need, more than today, but massively more efficient.

[@119mastermind]

Haha, yet BTC is the best performing asset in 2019.

[@damnright4]

Sense its inception Bitcoin has outperformed ALL other investments and assets ....EVERY SINGLE ONE.

[@soonermagic24]

I own both. Non biased opinion here Gold>crypto Having said that, don’t sleep on crypto. There is serious money to be made.

[@chrism3933]

Also serious money to lose. It is highly speculative.

[@soonermagic24]

Chris M agree.. I have a 401k, and stocks I invest in. I truly think that’s where you’ll make that money in the long run, but if I’m wrong, I’m not going to miss the boat on crypto. What’s 5k really? Just to throw at something that might blow up

[@chrism3933]

@@soonermagic24 I understand your position and best of luck to you.

[@olegefremov128]

@@soonermagic24 Speculative gains have bad karma. As it is other people's losses.

[@hggryrdchgc]

Doesn't like banks or asymmetric cryptography. Then pulls out a debit card made of gold. Hypocritical

[@deltaskyhawk]

An EMP or solar flare does not affect gold .... but can totally shutdown bitcon.

[@0xBULLgogi]

There are thousands of different individuals mining and securing the network across the globe who would be unaffected. Even if the localised infrastructure in the US was impacted temporarily, the miners and nodes operating elsewhere will keep Bitcoin ticking over. Also, what most people do not know, is that you do not actually need access to the Internet to perform a Bitcoin transaction. Although the Internet makes it far easier and quicker, Bitcoin would still be able to function the same way it does now. If the power grid went down in the US, people would still be able to transact, it will just be a little more difficult. The reality is that you can send a Bitcoin transaction through radio frequency, Morse code, and even by smoke signal if you really needed to, and it would be treated in exactly the same manner as an Internet based transaction. Even better is that we now have the Blockstream satellite available. Learn about how Bitcoin actually works.

[@deltaskyhawk]

@@0xBULLgogi Yah .. right? www.bnnbloomberg.ca/internet-shutdowns-don-t-make-anyone-safer-1.1268141

[@woblgobl]

LOL, wow, I just realised how insane the crypto community is. I think it's time to sell.

[@TheHeretic435]

Huh?

[@troyflowers8605]

Peter kicked his butt!

[@joshuabeeler1029]

I don't even think the people that own Bitcoin even know what it is

[@fsmoura]

no one knows what it is, its a complete mystery

[@joshuabeeler1029]

@@fsmoura u can hold silver and gold

[@Mastermined710]

@@joshuabeeler1029 Then the government can take it from you whenever they want. Best to diversify.

[@fucuszullanti7877]

fsmoura No, you just don’t know what it is...

[@joshuabeeler1029]

@@fucuszullanti7877 what is it

[@23hamze]

Peter handed this guy his ass. He had nothing to say but "dentistry"

[@RICARDORR18]

Bitcoin is a big project for sure, you must studied. My thoughts are that you have to own Gold and Silver and Bitcoin to.

[@seanmorgan2678]

Gold, silver and crypto. Bitcoin will be replaced by a more efficient crypto currency. Hashgraph has a case to kill blockchain.

[@salm7804]

28:23 “I tried to sell it , I couldn’t figure out how to sell it”. So you have no idea how to hit two sell buttons on your coinbase app? We are supposed to trust somebody to give investment advice , but can’t execute the most simplistic of tasks on a cellphone in 2019 😬

[@GD15555]

Good video. It tells me to buy even more bitcoins

[@josephayoub6445]

After hearing Schiff's point of view on Bitcoin several times now it makes me think that he actually knows very well the value of Bitcoin but pushes his Gold point of view to enhance his business. He's probably buying all kinds of Bitcoin on the sly. I wouldn't be surprised... :)

[@jimbing3492]

Hilarious how this guy belittles the use of gold in dentistry, totally oblivious to the fact that crypto has no utility whatsoever!

[@Mat-threw]

Jim Bing no utility? How do you figure that. Lmao ..You obviously not utilizing blockchain tech is one thing, but just because you don’t understand it and can’t use it, doesn’t mean it has no utility.

[@cdawg9149]

@@Mat-threw I dont understand it. Can you explain it to me?

[@nickshamplo7489]

Blockchain is very useful they're looking at using it in agriculture to track cows when born all the way to the grocery store that works very well for that purpose but not for money.

[@hankdaniels7384]

Crypto/ blockchain will have great utility for the unbanked. I see it bringing hundreds of millions of people an ability to store and transfer value. Gold is out of reach for 90+ percent of the world’s population. Banks don’t want to deal with the poor. Half of the world is poor. There wouldn’t be “blockchain “ without bitcoin. There are projects that will bank the unbanked. There will be utility in blockchain. With utility comes value. Bitcoin may be a store of value that anchors the utility of a vast number of projects. Even if bitcoin fails, it opened a Pandora’s box that will anchor future innovation. I’m “investing” a portion of my net worth in the future.

[@Dutchman294]

@Daniel Mayo You are wrong. Bitcoin is the block chain. Without Bitcoin how do you have a block chain? Who is going to secure and provide hash power to a block chain without Bitcoin/coin? It's impossible to separate the block-chain technology from bitcoin.

[@dr.d4957]

Ya ya Peter, we know all of this. I listened to your stuff, I read your books back in 2010. I understood your arguments and thank you, but then I thought for a while and realized that THERE IS NO SUCH THING AS INTRINSIC VALUE! Humans assign value to things and that value is purely subjective. Perhaps you could argue that food/water have intrinsic value since they can sustain life. And without life there is no concept of "value".

[@sean51697]

You really dumbed this one down Peter, but not dumbed down enough for the average person to understand nowadays.

[@qloudz]

If Peter thinks Bitcoin is so useless, then why does he accept it as payment (along with Bitcoin Cash)?

[@DegreesOfThree]

qloudz because money is digital and he doesn't want to wait a week to receive payment

[@mohamedaisset5682]

Gold is money

[@jorjiang1]

then money is not money

[@YankeeStacking]

Bitcoin IS crypto, but crypto is NOT Bitcoin. Another generation has to learn the HARD WAY. Had friends who screamed “New Economy” in 1999 and LOST THEIR 👕 on DOT-COM stocks‼️ 😣

[@curb_shifter]

Digital coins give you power on a secured network. The value is derived from the decentralized network/ledger itself, the people using and running it. The internet broke down a lot of borders and made the world smaller over time. Now there is a way to fast and securely transfer value too.

[@DegreesOfThree]

curb shifter Barry could have done a better job explaining the value of the ledger aspect of crypto, and how impossible it is to transfer gold to some village in the middle of nowhere.

[@matrixab4356]

@@DegreesOfThree Its impossible to transfer BTC to a "villiage in the middle of nowhere," cause that village most likely has no internet, especially if it really is in the middle of "nowhere."

[@DegreesOfThree]

matrixab435 Check the numbers... way more people have cellular internet access, than access to a bank account. Money transfer services are charging exorbitant rates for what crypto can do for fractions of a cent.

[@LexCinnabon]

Who's watching in 2021?

[@kingmiller1982]

Me

[@jarronjackson6670]

Crypto > gold. Peter has to promote this because he has a gold hedge fund. Peter's followers have missed out on many money making opportunities In the last 10yrs in both stocks/crypto....

[@aaronoflaherty1341]

Better to be 10 years early, than 1day to late. Buy gold stocks if you want action.

[@tothemoon8465]

I'm getting tired of Peter's debating strategies. Cutting off, no full explanations to why he thinks Bitcoin has "no intrinsic value", just calling it a "ponzi scheme" and start to talk about gold. He accepts Bitcoin on his website - HOLDS Bitcoin, SELLS Gold. kzbin.info/www/bejne/pWnNlqZsadtokJI

[@tonycharanduk133]

Both have value, what backs Bitcoin is blockchain tech which unfortunately Peter refuses to understand.

[@cookiecaramel6187]

For peple who don't know, gold is a soft metal which does not oxidate. Gold does not rust! Gold stays millions of years the same without even needing any maintenance. Gold is truly a divine metal.