🔴 Peter Schiff Debates on Bitcoin, Blockchain, Gold

Peter Schiff Debates bitcoin bubble, bitcash, Litecoin, Ether, gold, dollar, market, blockchain, satoshi, crypto and cryptocurrency, Inflation, on RT December 21st 2017.
Sign up for my free newsletter: www.europac.net/subscribe_free...
Peter Schiff Gold News: www.SchiffGold.com/news
Buy my newest book at www.tinyurl.com/RealCrash
Friend me on / peterschiff
Follow me on / peterschiff
SIGN UP FOR MY FREE NEWSLETTER
www.europac.net/subscribe_free...

[@saurabhksharma]

Peter schiff won this easily and I have litecoin

[@andrewcofrin7907]

Me too. Litecoin rocks!

[@TheFinnmacool]

Schiff's gold is threatened and I have gold and LTC.

[@cdawg9149]

Sasaurabhksharma You may own litecoin, but the founder of litecoin sold his entire stake a couple days ago...makes you think if its smart to hold now....

[@saurabhksharma]

c dawg He sold because people were saying that he was intentionally trying to raise the price by tweeting bullish news about litecoin.

[@cdawg9149]

saurabhksharma since litecoin isnt traded in the futures mkt, it will be interesting to see how it behaves with the selloff of bitcoin....good luck..

[@squishyplums2415]

Peter Schiff has guts to go against the tide.

[@mattd9058]

Even went to a crypto conference to give a speech and debate Keiser lol

[@johnsmithh9341]

Peter Schiff precious metal business is threatened by Bitcoin that's why he attacks it so often also precious metal prices are heavily manipulated people are making good returns buying and selling Bitcoin

[@sircurtisseretse3297]

Lee Mooney >...also precious metal prices are heavily manipulated...< And if bitchcoin prices were being heavily manipulated, you'd be the last to know. >...people are making good returns buying and selling bitchcoin...< Prove it. I put it to you that you don't know of a single one. Like any other ponzi scheme, it is only the guy that started the thing that makes any money.

[@narcissismanalternativeper5346]

i'm right here. and? that's yesterday old news everyone in the community knows the pattern ,and buys the sell-offs. whoever would sell Bitcoin for Gold is stupid. i would never sell my Bitcoin, for something as lousy as gold is right now. gold goes down, and bitcoin goes up. i just made 70Gs today. and what about it? what did you make with gold today? nothing. and it's a saturday. so shut up, and keep on buying your gold. best of luck suckers. who ever is against crypto is a loser, who can't accept the truth, and will go down with the ship, and keep on repeating the same message over and over again, as they drown. "time to wake up. it's time to die." LOL

[@johnsmithh9341]

Sir Curtis Seretse I bought 3 litecoins for 20£ gbp each 8 months ago and sold same 3 coins for £700gbp just recently that's only a £640 profit from a £60 investment Would I have made same profit if I would have bought gold ? NO

[@ashthegreat1]

Whether you agree with Peter or not, he totally OWNED that clown.

[@narcissismanalternativeper5346]

yeah, that's great. let's see peter stand up to andreas. please. and that's yesterday old news everyone in the community knows the pattern ,and buys the sell-offs. whoever would sell Bitcoin for Gold is stupid. i would never sell my Bitcoin, for something as lousy as gold is right now. gold goes down, and bitcoin goes up. i just made 70Gs today. and what about it? what did you make with gold today? nothing. and it's a saturday. so shut up, and keep on buying your gold. best of luck suckers. who ever is against crypto is a loser, who can't accept the truth, and will go down with the ship, and keep on repeating the same message over and over again, as they drown. "time to wake up. it's time to die." LOL

[@robertparrinello1687]

@@narcissismanalternativeper5346 you didnt make 70g shut up you loser

[@matthewkingston8931]

The clown owns BITCOIN agreed

[@pomp4401]

@@matthewkingston8931 this aged well

[@wolffayce4419]

Was that guy swigging back some booze?

[@cdawg9149]

wolf fayce No doubt taking some flow max....

[@onelowerlight]

1:27 LOL

[@matthewcastillo9951]

He sounds like he’s drunk.

[@pmafterdark]

Peter ate this guys lunch.

[@narcissismanalternativeper5346]

? what? whoever would sell Bitcoin for Gold is stupid. i would never sell my Bitcoin, for something as lousy as gold is right now. gold goes down, and bitcoin goes up. i just made 70Gs today. what about it? what did you make with gold today? nothing. and it's a saturday. so shut up, and keep on buying your gold. best of luck.

[@pmafterdark]

You certainly are the poster boy for the shit coin bubble buying numb nut. I'm secure enough in what I have and what I'm doing unlike yourself who has to brag of your income to make yourself feel better and try to validate a pointless point. Better spend your 70G's of cyber air dollars on something tangible fast. Oh and by the way, shut up and best of luck to you too.

[@narcissismanalternativeper5346]

you're just jealous. i'm rich, and you're not. and maybe so, but with the hundreds of thousands that i have made in the last 4 months of playing, is not hurting. i guess shit coins can pay the bills for years. and gold can't even buy toilet paper. by the way, you better be a trained MMA, when you tell me to shut up. say it to my face. i'll slap you silly with your own fist. LOL

[@pmafterdark]

Congrats on your big windfall of cyber air. As I said, better invest it quick. I'll stick with something that has a 5,000 year track record as a store of real wealth and will continue to be long after your cyber air has deflated. A trained MMA fighter?Yes, I'm certainly shaking. Probably too many blows to the head validates my point on why you're such an moron.

[@pmafterdark]

Making an analogy between witch doctors and gold as well as the rest of your rambling nonsensical diatribe pretty much proves my point on your idiocy. I've wasted enough time with the mentally challenged for one evening. Goodnight.

[@mikebetts2046]

Sounds like both these guys were experiencing some serious lag in their communication channels. Very annoying to listen to as they were talking over each other like a bad cell phone connection on steroids.

[@georgeshibley9529]

agreed

[@eric281]

Yesterday I blasted Peter for interrupting too often. Today, I think Peter tried to be calm and civil, but after he was the one today that was getting interrupted he just reverted to his tendency to over talk the other guys. I almost don't listen to him anymore unless he's on alone with a reporter, but he has lots to say that are worth listening to, so I suffer through it.

[@tempname4039]

dude he almost never interrupts as much as others, he is nearly always calm and cool. What your saying feels like a description of someone completely different.

[@allenajello1980]

It's lag in this case. They don't know they are talking over each other. Probably a good 5 seconds in this case so extremely bad.

[@TIOMKIN1]

When Bitcoin guys start talking fast about Bitcoin it's time to run for the door. Out.

[@Stan_in_Shelton_WA]

I keep thinking I'm listening to an infomercial as the Bitcoin shill starts ramping up on his diatribe.

[@TIOMKIN1]

I'm army. What are you?

[@sadistical5787]

No coiners gotta no coin

[@jasonmartin1712]

Well this comment didn’t age well 🤣

[@TIOMKIN1]

@@jasonmartin1712 Agreed. Out.

[@peterschiff]

At its low this evening Bitcoin had lost 1/3 of its value since hitting its record high earlier this week. This is the third time this year Bitcoin has lost 1/3 of its value in a few days. The last two times is quickly recovered to hit new record highs. If it can't make it a hat trick, it's done. Let's see what happens.

[@lv5669]

greater fool theory

[@alexp.2897]

Big inflated bitcoin dreams, will lead to big crocodile sized tears. And as always there will be a handful of millionaires who will make a fortune at the expense of masses of sheep who leveraged their homes to buy nothing.

[@tommanley2924]

Time will tell, soon very soon.

[@sheetfox2795]

i looked at it at 60 didn't buy because of you. i looked at it at 300, didn't buy because of you. can this thing crash already?

[@666crippled666]

LOL. This is it guys. Bitcoin is dead. It has only been claimed to be dead 500 times so far but this next time it will for sure die.

[@1kings1918]

The condescension of the Bitbots is astounding. Rather than answer the question with a rational argument *for* Bitcoin, they say, "you just don't understand". Why not answer the question? Why not define it's intrinsic value? Why not show us how the economy is now pricing things in Bitcoin? Why not show us your historical record of using it as currency and taking your salary in Bitcoin et al?

[@rebellucy5610]

I agree. So tired of hearing 'you don't understand the technology'. Just more reason to avoid it. If something is VALUABLE the masses of people need to understand it.

[@bmw803]

This Nick guy only talks hot air with no content. "It has the most participants", "it was the first one around". SO?? Those are arguments to prove that the whole thing isn't a bubble, or has intrinsic value or even functional? They always use confusing phrases and justify something, because many pigeons have bitten into the fever. That alone is enough to convince me to stay away from it. WIsh I would have bought into it years ago, but now it's too late. At least Rockefeller got rich by innovating how to transport oil thru pipelines instead of rail. Just like wolf of wall street depicts "IT's ALL FUGGAZZI" it doesn't fucking exist.

[@sigatus]

There is no such thing as intrinsic value. All value is subjective. This is basic Austrian Economics.

[@1kings1918]

Hi sigatus. "There is no such thing as intrinsic value." I am familiar with Ludwig Von Mises point on that in Human Action, being an Austrian economics proponent myself. However, in trying to reach people lunging towards a bubble, I am using a well established concept and definition that they may be familiar with. The 1828 Websters Dictionary: INTRIN'SIC INTRIN'SICAL, adjective [Latin intrinsecus; intra and secus.] 1. Inward; internal; hence, true; genuine; real; essential; inherent; not apparent or accidental; as the intrinsic value of gold or silver; the intrinsic merit of an action; the intrinsic worth or goodness of a person. 2. Intimate; closely familiar. Regardless of what someone subjectively values a thing in dollars, the thing does have a use inherent in it's creation. An *ax* intrinsic value is that it is a tool to chop wood, among other subjective values. The "intrinsic value" of a Bitcoin is what? Blockchain obviously, but originally was it not also an incredibly low cost to transfer wealth, which I hear is no longer the case. Once someone is compelled to *define* the supposed benefits - i.e. intrinsic value - of Bitcoin and other crypto currencies, then one will have a subjective value that *they* attach to those benefits. I seek to have those who promote Bitcoins (and cryptos) to explain how the benefits they associate with Bitcoins and how they arrived at the value/price/FMV that they think it is worth. I propose that there is no rational relationship between the current trading price and demand for Bitcoin and Bitcoin/cryptos supposed expressed benefits. The current motivation is not from any actual benefit ("intrinsic value"), but is purely speculation that a greater fool will exist beyond the limit of their ever increasing risk tolerance.

[@sayhitome8093]

that guy did not come prepared whatsoever

[@swfsql]

He actually listened and didn't leave the scope that peter created. I could see he knows what's he's talking about, and knows that peter doesn't get it (since it's technical)

[@nivaavina2403]

Just to be clear.... Peter Schiff is a Legend. Gotta love this guy!

[@joonkim7899]

Peter is old and won't except new technology. He will be left in the dust

[@jrmm4507]

@@joonkim7899 you have mistaken his point and made a strawman. He is saying that bitcoin by itself isn’t the technology which it isn’t it simply uses it. So another cryptoCURRENCY could be made with blockchain or even an improved version and made even scarcer than bitcoin, if that happens isn’t bitcoin then obsolete? Can you name any technology that hasn’t been improved upon? Whereas Gold and silver are made from a supernova and aren’t artificially scarce, they are naturally scarce and are tangible, an actual commodity and have unique properties.

[@ouxu597]

@@joonkim7899 there is literally nothing good about crypto yet lolololol

[@kewalos96]

Can't make the argument any better than Mr. Schiff did here. Bitcoin isn't the technology; blockchain is!

[@TheFinnmacool]

But how do you use blockchain? What's the monetary mechanism?

[@RedFaceeee]

Bitcoin is the daddy of blockchain

[@kewalos96]

Dex4Sure nah, read the research paper. Bitcoin is just an implementation of an electronic coin that utilizes a blockchain.

[@charlielakamp8099]

Peter fails to value Bitcoin's network effect, it took 8 years to build, its the strongest in the space, it's worth a whole lot. Buy Bitcoin or you'll end up talking stupid shit about "intrinsic value" (value is ascribed by an actor, it's not intrinsic) like Peter.

[@kewalos96]

Charles LaKamp the network effect does give it some added value. you can ballpark the value w respect to metcalfe's law (O(n**2)) or a more conservative estimate (O(nlogn)). Anonymous, cryptographic, secure transactions are intrinsic value provided by the blockchain technology rather than bitcoin itself.

[@mesanomad55]

A lot of people gonna lose a lot of money on bitcoin.

[@__BERSERKER__]

Steve DeLong kinda like the internet?

[@PSYCHOLOGYZOOM]

RIP Charles Manson. An American hero!

[@bobbystaggs3666]

Gold sux

[@Squiiidward]

And a lot of people will earn a lot of money on bitcoin ;)

[@northsidegaming1010]

as oppose to losing money in a country thats in 20 trillion dollars in debt. the us dollar is about to collapse. countries are pulling out of the petro dollar, internet currency is the future dont get left behind.

[@superiorseven4814]

Is this a 30% dip or a 90% dip in the value of nothing? Which one of the other 1,375 digital asset bubbles should I buy next?

[@tommanley2924]

Peter delivers a knock out. Need to have them back on.....

[@TIOMKIN1]

Apmex metals stopped taking Bitcoin and this should tell you something. Out.

[@johncharles9054]

I was surprised anyone accepted buttcoin for gold.

[@iamjon1986]

www.apmex.com/now-accepting-bitcoin?gclid=Cj0KCQiA9_LRBRDZARIsAAcLXjc5U6-sym59TJrTRVf6sZWkV59VPx6klqqQl4CD-VKCgVpejQwk-VkaAqFNEALw_wcB You are fake news!

[@dawayneduval]

john charles I accept it for gold n silver ask me how

[@narcissismanalternativeper5346]

whoever would sell Bitcoin for Gold is stupid. i would never sell my Bitcoin, for something as lousy as gold is right now. gold goes down, and bitcoin goes up. i just made 70Gs today. what about it? what did you make with gold today? nothing. and it's a saturday. so shut up, and keep on buying your gold. best of luck.

[@dawayneduval]

Narcissism: An Alternative Perspective when no one wants an asset that's the time to buy it. When everyone is all in , mortgaging their home, talking about it on Monday street, that's the time to dump it. Good luck

[@nivaavina2403]

Peter just dropped the mic on that one.....BOOM!!

[@BeyondTheScaryLeft]

It is still early. The bears have not yet begun the mauling. The imaginary coin peddlers are still trying to find last minute buyers. There is a hint of desperation as the bears sniff and paw at these imaginary coin peddlers. When the imaginary coin peddlers stare into the bears' eyes and see that there is no escape and the bears begin the mauling, that is when Schiff can declare ultimate victory. The mining rigs have to be dumped in a fire sale for total capitulation.

[@TheRootMessage]

I should have never listened to peter years ago and put my savings in silver... Bitcoin woulda have made me a multi millionaire by now meanwhile my silver is half the value.... Mining in california costs over 3,000 USD to mine 1 bitcoin, I highly doubt the value going anywhere near zero..

[@markdavid1262]

How were you even lured to Peter in the first place? What happened to this sound thinking man? Sound as in foundation. Foundation as in solid. Solid as in material. Material as in gold. Gold as in rare. Rare as in valuable. Valuable as in savings.

[@wakjob961]

TheRoot Message Silver is a hedge against the soon to fail fiat... it's not the type of investment you were thinking of, but it is still the safe play.

[@ilikemitchhedberg]

Aww, how cute, sweetie, but why are you using the term 'mining' to describe CuckCoin? Gold-envy much?

[@narcissismanalternativeper5346]

what does that tell you? don't listen to peter, and do the opposite of what he says. he's nothing but a shill causing FUD. the good news is, that it's not even close to being too late. you have plenty of time.

[@narcissismanalternativeper5346]

you should have bought 46.

[@angelitavenegas5619]

Thank you Peter!!! Too volatile!!! Thank you for saving me from making a big mistake ❤

[@snatchgrill1774]

Well well well.Thats a thank you too early sweetheart 😁😁33k + today and still going up

[@zsualite7984]

Well I made 70% plus

[@11bravo80]

I've lost a lot of money listening to idiot friends telling me I'm going to miss out on getting rich❤ don't make the same mistake

[@BeyondTheScaryLeft]

The best investments are made when everyone believes that you're wrong. Not just in the immediate circle of people you know but everyone. Investing, thus, is a lonely profession for those who do it best. Always going against the crowd. Spoiling the fun. Ruining someone's retirement and dreams. That is the price of wealth preservation. Only the fit survive.

[@zarkojokic5186]

Sound Money Report amen

[@scotthenson]

Peter wiped the floor with this guy!

[@OldTraffordNorway]

Peter Schiff is def the best Gold spokesman out there. Also he kills all this stupid Bitcoin trendies. Just look how Max Keiser where screaming at Peter in a Bitcoin debate not long time ago and how secure and calm Peter always is when he speaks. Now Bitcoins is getting destroyed by markets... Go Peter!

[@narcissismanalternativeper5346]

that's yesterday old news everyone in the community knows the pattern ,and buys the sell-offs. whoever would sell Bitcoin for Gold is stupid. i would never sell my Bitcoin, for something as lousy as gold is right now. gold goes down, and bitcoin goes up. i just made 70Gs today. and what about it? what did you make with gold today? nothing. and it's a saturday. so shut up, and keep on buying your gold. best of luck suckers. who ever is against crypto is a loser, who can't accept the truth, and will go down with the ship, and keep on repeating the same message over and over again, as they drown. "time to wake up. it's time to die." LOL

[@OldTraffordNorway]

Narcissism: An Alternative Perspective You loosing alot of money now dude... Bitcoin is collapsing

[@EricSmyth4Christ]

It will be digital artwork in 30 years Maybe worth something as a collector's item

[@billpbritt]

Yep just make another fork (dilute)! Lmao

[@Sigrafix]

Why in 2017 do these multi billion dollar news agencies still have awful lag on live video interviews... You could literally do a better job face timing some one at a local star bucks using public wifi.. it's ridiculous.

[@StraitClownin909]

Sigrafix seriously

[@r0n_gg942]

its called satellites and being half way across the globe, r u dumb?

[@allenajello1980]

It's because there is no priority on the public internet so it's queued with all the other traffic. They'd have to pay for private crossconnects between locations. Very little of that lag is distance.

[@JoshSideris]

"Bitcoin is a reward system for holding up the blockchain" - circular reasoning.

[@treizTUBE]

best comment so far

[@alpinemaximus7085]

nice summation

[@bmw803]

This is how you answer when you can't defend something with any logical arguments. That should be a red flag right there. Let those idiots burn their asses.

[@thelegend3798]

Gold is only worth what the next idiot will pay for.

[@swfsql]

That you have to "sell" your bitcoin in order to "trade it" is pretty obvious.. ?? those were the claims that Peter were saying - now THAT's is cyclical.

[@isaacsakko]

You rock Peter!! You really do! Educate them fools!

[@dogoftheg]

Bitcoin has an Achilles heel: it requires electricity to use. Also, what if there’s no wifi? Physical money doesn’t suffer any of that. Also, is there enough money in the Bit Coin vault to pay out if everyone cashed out at once?

[@BrockJamesStory]

We're gonna look back on this in a year and be like damn so he called the housing crash, bitcoin crash, and stock market crash damn..

[@markdavid1262]

Except you haven't made anything until you convert your bitcoin into dollars. Get the money you used back and bet with the digital currency for digital currency. It's the same as gambling, but you have to make sure you win first.

[@murat9268]

You can flip coins to earn money, but risk gets higher and higher. Similar to mortgage crisis...

[@murat9268]

This will be contained like stock crisis of NASDAQ, because volume of trade is very low with respect to mortgage crisis... The fundamental rule of investment is simple, do not invest all of your money to one type of investment, always diversify...

[@BrockJamesStory]

Dex4Sure duh people always make money off bubbles lol and he calls the crash because of the government involvement in things it's the way the government runs the economy and they shouldn't be involved

[@thomasstewart2870]

Bitcoin probably won’t die unless replaced by alternatives, but like anything not backed by commodity, it’s a zero sum pyramid scheme until it’s backed currency. Some people will get rich, but a lot of people will lose money

[@LisaMurphy]

So the crux of this is, you have to sell your bitcoin and get dollars to purchase something. The bitcoin shill then says: okay but you have to do the same with gold. The difference is, I have gold and it's always going to be worth something. Gold is a precious material. Bitcoin is a confidence game you pay dollars to buy into. When the pile-on stops there's nothing there not even your dollars. Investing in bitcoin is no different from playing roulette. Gambling rarely pays off in the end.

[@LisaMurphy]

And another thing, when you sell your bitcoin you owe capital gains taxes if it went up from the purchase. If you buy stuff by selling bit coins all year, well, have fun doing your tax return!

[@cesarsosa1341]

Lisa Murphy actually the difference is that gold has several thousands years of history of being money

[@LisaMurphy]

It has thousands of years of history as money because it's a highly valuable & useful material. But what's relevant to present times is that it has even more uses now than any time in history so its relative value has really increased. And in addition to that, it has the potential to be money/currency again any time the current monetary system finally breaks down. Bit coin is dependent on the system, gold can stand alone.

[@DWes487]

Well said!

[@shaneestes429]

Yawn.

[@PassportBrosBusinessClass]

I like how they wait quietly till the next guy starts talking TO OVERTALK HIM lol

[@dicksonphisthur3398]

Another ridiculous "debate" with the bitcoin promoter interrupting and loud-talking to prevent opposing ideas from being heard. Stopped watching about halfway through. Been there, done that.

[@wreagfe]

Yeah he is a bit annoying; the communication channels also had some latency, which I found more annoying. In the end it's just a simple debate and I think the BTC guy had reasonable arguments as such but it seems like he doesn't know why these arguments matter. It seems he just heard them, memorised them and splurging them out.

[@TheFabled1]

I LOVE WATCHING BITCOIN CRASH!!!!

[@narcissismanalternativeper5346]

that's yesterday old news everyone in the community knows the pattern ,and buys the sell-offs. whoever would sell Bitcoin for Gold is stupid. i would never sell my Bitcoin, for something as lousy as gold is right now. gold goes down, and bitcoin goes up. i just made 70Gs today. and what about it? what did you make with gold today? nothing. and it's a saturday. so shut up, and keep on buying your gold. best of luck suckers. who ever is against crypto is a loser, who can't accept the truth, and will go down with the ship, and keep on repeating the same message over and over again, as they drown. "time to wake up. it's time to die." LOL

[@VikingPickles]

Yeah, crash, crash all the way down to over 1000% yoy. The crypto market is back up to over $640 billion so this "crash" is fucking nonexistent.

[@justint.4254]

I am just gonna call it right here. Like the internet in the year 1998. Bitcoin and altcoins are now in a bubble. This bubble will go into the trillions. And Peter is gonna keep calling it a bubble and he will also say he should have gotten in. The bubble will pop. And when the bubble emerges again blockchain will see mainstream adoption. If you buy good projects during the next bear market in crypto you will have great investements for years to come.

[@craskam]

Good thinking, Justin. I can get with this... might even want to wait a tad to see a durable bounce to weed out some stragglers ... and avoid falling knives.

[@omkar3624]

Justin the Thinker I think the winner of the race has still not even arrived yet. but just like Amazon you need to weed out the winner when it comes

[@justint.4254]

Very likely indeed

[@narcissismanalternativeper5346]

when is the next bear market? that's what i thought. let's not worry about that right now. right now, there is so much money to be made in crypto, and not in gold like schiff states, that you best jump in the pool, and stop running back to the beach chairs. what we're about to see, has never been seen before, and will probably never be seen again, at least not in our lifetime.

[@justint.4254]

I think the market will enter a bear market after bitcoin goes 40.000 to 60.000 dollars. This zone seems the like red flashing dangerzone of overvaluation based on historic bitcoin bubbles. It will probably crash back to 8000 - 10.000, but the market can always suprise you off course.

[@PassportBrosBusinessClass]

Bitcoin, Bitcoin cash, Ethereum and Litecoin are all down. No sign of when the dip will end - or if this is a dip. This could be the end. A lot of the founders are selling their holdings.

[@fountaincap]

Love the actual debate, but I gotta gripe about one aspect of modern technology on display here: the delay in digital transmission of the audio. Makes it confusing to hear when someone has finished speaking then you end up talking over each other. We're supposedly more advanced now, yet we still can't overcome this problem that analog audio didn't have!

[@Oetti]

Peter absolutely demolished Mr. Bowtie...another Schiff clinic!

[@TangoNevada]

Well, yeah. It seemed kind of like a setup. Let's seem him debate someone like Andreas Antonopolous. He probably won't do that, because he'll get shreaded and it will never show up on his channel when he does,

[@thelegend3798]

Antonopolous would turn Schiff into apple sauce dude. It won't even be fair.

[@xploit811]

All the frustrated crypto "gamblers" thinking they are smart enough to think this is all useful, all of that usefulness will disappear once bitcoin value crashes.

[@johngiuffrida]

Thanks RT for ruining the interview for me by not establishing a solid connection before the interview began.

[@joecj840]

OK, I just typed this not knowing that this would actually go on line. I really did not mean to sound so blunt or offensive. I apologize for that. It was just surprising that in Peter Schiff's counter argument he said that the drawback of bitcoin was that you had to first sell the bitcoin. Yes and no, because in certain retail shops where they do receive bitcoin or other alt coins, they are used as a direct medium of exchange without having to convert to fiat currency. Japan is the perfect example where bitcoin was legitimized by the Japanese government.Bitcoin completely bypasses the government controlled and banking system. And yes, in this respect the same limitation applies to gold but with even less flexibility. You can't just go into a shop and directly barter with gold whereas with bitcoin you can in any participating retail shop. With gold you must always first convert it to fiat currency before you can conduct any kind of an exchange. And this was the point that the other gentleman was making as well.

[@BeyondTheScaryLeft]

The Japanese government is not a good example of an organization capable of wise financial decisions.

[@seansurfn2]

Sound Money Report and which one is then? he makes a valud point yet you always criticize everything.. so much butthurt

[@BeyondTheScaryLeft]

The bears are looking at these imaginary coin peddlers, studying their psychological weaknesses before the great mauling. The time is coming soon. Shock and awe is what will shake out these peddlers and "hodlers."

[@markdavid1262]

It needs to do well a little longer. It's temporary success is making metals more affordable.

[@narcissismanalternativeper5346]

that's yesterday old news genius. everyone in the community knows the pattern ,and buys the sell-offs. whoever would sell Bitcoin for Gold is stupid. i would never sell my Bitcoin, for something as lousy as gold is right now. gold goes down, and bitcoin goes up. i just made 70Gs today. and what about it? what did you make with gold today? nothing. and it's a saturday. so shut up, and keep on buying your gold. best of luck suckers. who ever is against crypto is a loser, who can't accept the truth, and will go down with the ship, and keep on repeating the same message over and over again, as they drown. "time to wake up. it's time to die." LOL

[@BeyondTheScaryLeft]

The stage of full capitulation in these imaginary coins is coming soon. We have not reached the point of revelation that the great swindle was achieved long before the crash. Imaginary coins. The lesson for the ages.

[@BeyondTheScaryLeft]

When we see mining rigs flood the market, that is close to full capitulation.

[@a-maxcoin7549]

Sound Money Report: are you willing to mention a year? Any year. It's not very difficult to say 'soon', without mentioning a time frame, is it? 2020? 2025? 2040?

[@BeyondTheScaryLeft]

The timing depends on any new sanctions against North Korea. New sanctions may include these imaginary coins, in part, to thwart any potential NK cyberattack and ransoms involving them and to cut funding of the NK regime. Already, there are clues that the US is planning a major naval operation early next year. Perhaps during or after the Winter Olympics. With many countries participating in the Winter Olympics which will be held in South Korea, a North Korean attack on South Korea would be unthinkable. This provides South Korea some measure of safety. Essentially, human shields but from all over the world. The Navy is also trying to retain tens of thousands of sailors early next year who were at risk of being administratively separated for physical fitness failures. If a major military conflict breaks out, there won't be many young people willing to join the Navy. If there are already hundreds, if not thousands, killed or missing, young Americans would be hesitant in joining them and meeting the same fate. Loosening retention standards, thus, becomes a stopgap measure to unintentional downsizing on the eve of military conflict. www.navytimes.com/news/your-navy/2017/12/21/navy-grants-fitness-amnesty-to-48000-sailors-who-failed-test/

[@a-maxcoin7549]

If those 'imaginary coins' still exist in, let's say, 10 years from now and banks worldwide work with them, would you then still call them 'imaginary'?

[@BeyondTheScaryLeft]

Those imaginary coins will still be around, just like old DOS floppy disks can be found. And just like with obsolete technology, their valuations will come down. Hashgraph is much more efficient as a method of global payments. But this is patented technology.

[@ibo1780]

Bitcoin is already obsolete Bitcoin Cash is already replacing Bitcoin. Bitcoin is slow & expensive to do transaction with because they are not expanding the block size. i hear it takes an hour or two just to make a basic transaction plus the expensive fee..... if anything Hashgraph could end up replacing the whole of blackchain which includes bitcoin.

[@bitcoinbangkok6705]

I like both Gold and bitcoin... but I never bought any gold, its two different things, if you like gold go buy gold if you like bitcoins go buy bitcoins. Bitcoin will not be here forever but the innovation and technology that came with it, will be something that people will use and that is worth something.

[@ibo1780]

LOL this is the best. Peter is the man. felt kinda bad for the other guy

[@andypeterson2126]

Well, who wants to make a “Peter Schiff was right Bitcoin edition “ video compilation ?

[@Rulze1]

Cannot wait for this video!!! this is going to be quite something.

[@narcissismanalternativeper5346]

you mean was wrong edition, right?

[@TangoNevada]

Well, he has been saying it for years and still no video. And Bitcoin keeps bouncing back. Despite dips, it's still up significantly since the start of the month overall. So if you invested at the beginning of the month, you are still up.

[@joonkim7899]

Hold your horses cowboy

[@joonkim7899]

Bitcoin is going to 100k in the next few years

[@jbnichug8949]

You don't have to sell your BTC. You just transfer your BTC to another person's Wallet. Lol

[@theburkett67]

Peter Schiff says "You have to cash Bitcoin in before you can use it? Are you Kidding? You Don't have to "Cash them in". There are many places that accept Bitcoin online! I will accept Bitcoin as a form of payment. Do some research. Bitcoin or other Alt-coins will be widely accepted, even with all of the negativity surrounding crypto.

[@djpaulywood]

same here - heck i even told my boss a local bar i dj at that she could pay me in Tron TRX - she said no way and gave me cash - so i think that makes TRX worth more right?

[@theburkett67]

djpaulywood Sounds like it to me.

[@sreetips]

Woo.... Bitcoin below 14000, ouch!

[@georgeshibley9529]

Where are all those people commenting on the price now?

[@powderslayer]

Dex4Sure no thanks you can have her, the central banks are going to crush it and they always will now that they have a Futures marker on it the central banks will bleed every poor bastard dry. anybody that thinks that the central banks are just going to lay over while this thing just comes in and sweeps everything right out from under their feet I doubt it they they destroy whole countries with war to maintain power there is no way in hell they will let this overtake the power of the central banks

[@TheFinnmacool]

George Shibley George are you serious? Sounds like someone is jealous. Even after the price decline many people are still up HUGE!!! You missed the boat entirely sitting on your silver stack and are pissed! Did you make that same comment when BTC went from $30 to $4? $200 to $30? $1,000 to $200? $3,000 to $1,200? $8,000 to $5,000? $11,000 to $8,000? On and on and on. Were you there George? No? I didn't think so.

[@sreetips]

Sorry man, didn't mean to offend you. Hope it wasn't to bad.

[@damnright4]

Out buying more bitcoin!

[@Digiphex]

It is because Peter understands that he dislikes Bitcoin, not because he doesn't understand it. It is a bubble that will go up as long as it is rising and the very second that is not true it will crash like a house of cards.

[@dawayneduval]

4:05-4:30 Preach it Schiff!

[@PaidinFull2024]

Peter throat punched this guy right in the bowtie :D

[@MisterCylinder1]

Nick is right, Peter does not understand blockchain and its potential!

[@TheBlackMage3]

Peter completely understands blockchain and its potential. He also understands economics and that bitcoin doesn't make sense as a currency (which was what bitcoin was designed to be). It doesn't mean the blockchain is a failure or that it won't be used for something else though.

[@aftermath4096]

thats true, but as long as bitcoin can act as the main bridge between useful crypto assets or crypto assets that have potential, than bitcoin has inherent value it's the most used and trusted bridge

[@shadowbanned4days]

Get em schiff get em! Gold baby'''''

[@narcissismanalternativeper5346]

that's yesterday old news everyone in the community knows the pattern ,and buys the sell-offs. whoever would sell Bitcoin for Gold is stupid. i would never sell my Bitcoin, for something as lousy as gold is right now. gold goes down, and bitcoin goes up. i just made 70Gs today. and what about it? what did you make with gold today? nothing. and it's a saturday. so shut up, and keep on buying your gold. best of luck suckers. who ever is against crypto is a loser, who can't accept the truth, and will go down with the ship, and keep on repeating the same message over and over again, as they drown. "time to wake up. it's time to die." LOL

[@tomassavenas1266]

Agree, Peter, I do not recommend for all to buy cryptos.

[@TheKahn14]

How relevant is Blockchain ? Extremely. One of the most Important Technology in this decade.

[@BeyondTheScaryLeft]

Getting paid imaginary coins to waste electricity on meaningless calculations is not the crowning achievement of man in this decade.

[@TheKahn14]

Whats so meaningless about smart contracts, distributed ledgers for government(e.g. e-estiona, Sweden) and logistical function, or financial applications that go beyond building a concurrency ? A trustless network of uncagebel enteties has many applications within IOT applications or siply transactions between of varying authority. I suggest you read up on it. IBM is a good start or here proquestcombo.safaribooksonline.com/book/web-development/ecommerce/9781491920480

[@TheBlackMage3]

However, block chain is not synonymous with bitcoin. Anybody can use the block chain. It will have important uses in the upcoming decades, but bitcoin fails as a currency.

[@TheKahn14]

100% agree never staded otherwise.

[@TheBlackMage3]

Yeah, I'm just clarifying because to the uninformed, the two are synonymous.

[@fsmoura]

ITS CRASHING SELL SELL SELL ( oДo)

[@superapex2128]

Bitcon (pun intended) is (digital) fool's gold.

[@nymmaful]

I'd like to hear your larger thoughts on cryptocurrency as a whole, and what role it will play in the future. Do you find any of the other cryptocurrencies in the market to be interesting investments?

[@1kings1918]

Bitcoin's inherent value (proponents call it "demand") varies quite a bit daily. So Bitcoin is only *worth* $13K today (1/1/18)?

[@kurt6410]

The cryptos are having a nice and well needed pulback. This is a GREAT time to BUY!!!!!! Don't listen to the FUD. Buy the DIPS!!!!!!!!!!!!!!!!!!

[@superiorseven4814]

Fuck your dips.

[@bedwere]

Buy the dips in the tulip bulbs as well!

[@BrockJamesStory]

YEAH cause when you buy the dip it ALWAYS goes back up.......wait

[@pmafterdark]

I think your brain's having a pullback.

[@Xatos1337]

That's not a dip that's a falling knife. Just ask the guy who bought yesterday, and the day before, and the day before.

[@zanaris-falador]

Where did they find this slug in New York? He doesn't even know what he's talking about. I know more about bitcoin than this other guy and I know squat. Peter 1, Slug 0

[@berj1976]

Peter is right. Bitcoin si just speculative tool at the moment. Transactions are brutally slow and expencive. Network consumes brutal energy...this is not green at all.

[@YeshuaAgapao]

Blackchain sucks Hashgraph looks like it will fix many of blockchain's scalability problems

[@llmadridrn392]

I can buy gold from Provident Metals straight from my Bitcoin wallet using a QR code. I can also load a Visa card with my bitcoins and buy whatever I want. Mr. Schiff you need to update your Bitcoin knowledge. I'm disappointed in you.

[@BeyondTheScaryLeft]

His knowledge is correct. Imaginary coins. What did you think was going to happen to them? What you see is what you get. If you're getting gold, you're getting something. Imaginary coins are a swindle with a technological angle to fool the gullible.

[@prndownload]

I'm not sure you understand. Basically nobody is accepting bitcoin or pricing their goods in bitcoin. You are simply selling your bitcoin for dollars then making the transaction in dollars.

[@llmadridrn392]

prndownload ..... I guess I'm not understanding because I'm looking at a rug I bought on Overstock.com and paid with it straight from my Bitcoin wallet. Goods aren't priced in Bitcoin yet because it's to volatile for now. But as long as merchants are willing to take Bitcoin then I don't see it going away.

[@prndownload]

You paid a fee for someone else to exchange bitcoin to dollars for the rug vendor. The rug vendor does not want your bitcoin. Won't be long and you also won't want your bitcoin.

[@georgeshibley9529]

Can you do all of this for free? Why would a company want to adopt (below 12k now yes?) when cup of coffee you bought last week is worth 10x less or more today

[@sggod89]

Bitcoins are even more useless than tulips

[@OptionsTrader007]

Peter still doesn't get it , this is basically transferring physical paper money to electronically distributed ledgers systems and as the base users grow the price itself goes up.This is the new age of money, just transformed into a distributed ledger system .That's why our monetary value was revolutionized from using gold to paper money and now from paper money to computerized blockchain distributed ledger systems.

[@TangoNevada]

Why does he keep saying you have to sell your Bitcoin before you can buy anything with it. First off, even if that was true, so what. When was the last time someone walked into a store and shaved off some shards of gold to buy something? You have to sell your gold before you can buy anything with it, even more so than bitcoin. Regardless of what you think about Bitcoin, that argument is just stupid. 'Good Morning, Here are a few flakes of gold, can I have my coffee now"? No? Well, that doesn't make gold have no value.

[@Snubrevolver]

Peter is a long term investor. He'd take making no money over trying to ride a bubble.

[@leereoder]

The gold eagle is legal money in the U.S. It would be stupid to use it as face vaule, but none the less it is lawful money.

[@PrivateAckbar]

I found Peter very convincing here.

[@TehCommentMaster]

I'm so sick of these interviews with timing delays. What year is this? So awkward to watch.

[@heemlo649]

Why is the delay so long?

[@primemover1930]

Are they on a delay? They keep interrupting each other seeming unintentionally.

[@eugenevikman7855]

Take a look at this one if you haven't already: kzbin.info/www/bejne/iXeWZ2WurciZms0. Pay special attention to the second part in this video. Good health and fortune to everyone here!

[@seang9153]

I agree with Peter on most of this. He was clearly wrong about buying things with Bitcoin though. If you want to buy something with bitcoin, you just send bitcoin in its current valuation to the address they ask you to send it to. Obviously the vender has to accept bitcoin. I've used it for several purchases.

[@Earthandweather]

I’ve noticed that every time they discuss BC, or any crypto, they show beautifully rendered images of gold colored coins....I guess showing nothing at all is out of the question. After all, when they talk about gold they show gold....the beautiful immutable metal...It’s only fair that when they discuss BCs platonic perfection they show gold’s actual, dare I say, Aristotelian beauty. I mean, what else are they gonna do?

[@damnright4]

I would love to see Peter debate John McAfee on bitcoin...Now that would be interesting..

[@Alock94]

At least the host isn't biased. I think I could hear a giggle in his voice as he asked Peter to rebut what the other guest said.

[@DollarDown]

Peter, I believe that the "inherent value" of a bitcoin is that it is the first creation and use of block-chain that specifically sets out to be a digital cash system. It is governed by the laws of computer programming and cannot be counterfeited, controlled, or altered. It is based on neither debt, nor physical commodities. Instead it is based on a limited supply. Forking is a feature of a truly decentralized network, not a flaw. Yes, all cryptos are going to zero, but on what timeline? Bitcoin will be used and traded until the internet is lost or destroyed. It is a digital, 21st century tally stick that can not easily be taken from us.

[@asmodei]

Sorry but people would make far more money investing in cryptocurrencies than investing in gold. Things dont need to be logical when it comes to making money, go where the people are going, and stop being stubborn. Be open minded look at how much the world has changed over the past 10 years

[@Iammram]

The Delay between the 2 ruined the discussion.

[@shadowbanned4days]

Why cant ppl just end corruption with gold

[@HenrikAkselsen]

This doesn't even count as a debate. RT, please bring on some of the more well-spoken people like Vorhees, Ver or Antonopoulus.

[@johnsmithh9341]

would love to see Peter Schiff versus Andreas antonopolous

[@rickdeckard9810]

Peter Schiff sure spending a lot of his valuable time on something he thinks is completely worthless and not a threat.

[@IloveDoubleD]

There is only 1 legal currency in the U.S. Dollars, until that changes, Peter is correct. Bit coin is a speculative crypto currency, it really has no reason to appreciate. Other than other people want to purchase it(yours), but indeed you can't use it to purchase anything. It has to be converted to a viable currency.

[@brennanhm]

The delays between the host and guests are unbearable

[@damnright4]

In this day and age...To still have a delay in communications is ridiculous . Where is RT Newsroom on the Moon?...Get it together.

[@jadecole6918]

Regardless of debating if bitcoins have value or not, or if it's a bubble or not, crypto currencies are clearly too volatile to be a currency alternative to dollars. It has to correct/stabilize.

[@BeyondTheScaryLeft]

What is the next best use for these imaginary coins? There is none. And that is what they are worth.

[@raymondwalsh7520]

I looked at bitcoin in 2016. I fundamentally didn't trust it. Sure I could have made a lot of money on it and I lost out but i didn't trust it at the time. Its a falling market now and unfortunately, I know a good person taht I;'m sad ploughed way too much money into bitcoin as the bubble was been blown up. Gold has been money with a 5,000 history. Gold is embeded in our consciousness as having value. Bitcoin is around for 10 years or so. I'm going with Peter.

[@Realisticautism]

The crypto guy didn't even know what a cash for gold place or a jeweller was by the end 😂😂😂😂

[@simonissheep]

Bitcoin is NOT for old guy. The society is moving forward with technology.

[@seaxneat9154]

oh and btw pete bitcoin is the tech not blockchain. bitcoin is the whole innovation and system. other cryptos copy bitcoin and its tech but they are essentially just copycats of bitcoin. bitcoin is blockchain it would mean exactly the same thing to say other cryptos use bitcoin tech and not blockchain tech

[@MOPEDBRAD]

10:18 a.m. EST, Friday, December 22, 2017....... I just heard at least one bubble pop!

[@lagneuk702]

Not long ago Bitcoin investors were hoping for a Bitcoin/Gold parity...now it takes 11.7 ounces of Gold to buy one Bitcoin... have a great holiday season and reflect on how much money and gold you lost...Have a very very Merry Cryptomas and a Bitcoin New Year..

[@mattjohnson7198]

RT, clean up your delay issues. You can't have a debate that way.

[@willkoen1]

They are both right to some degree. But you can buy gold with bitcoin without selling it for dollars. Veldt gold is the company. I think it is a good thing to put money in while your crypto is high.

[@turkyturky6274]

Unfortunately, Peter is right, bitcoin value is derived from people that use it, but as long people mine it, I don't think it will come crash, unless the central bankers somehow destroy the blockchain which honestly could happen

[@URAWESOME94]

Mark my words, everyone, bitcoin will hit a horrible drop zone. There's simply too many people speculating and inflating it right now. It is simply one nose hair ahead of it's time. However, when it does temporarily collapse, I plan to scoop up a lot. I am very hard on myself for not going in when it was two digits per coin, but even then the volatility and bad association with illegality was a turn off. My goal? Scoop up tons of it at the drop, then turn around and divest quite a bit of the profits later into gold investments. There's actually quite a bit to gain from this punching match.