Peter Schiff’s Bold Take on Bitcoin, Trump & The Ominous Debt Bubble

[@Wealthion]

- Investment Concerns? Get a free portfolio review with Wealthion’s endorsed financial advisors at bit.ly/41kU5Mh - Hard Assets Alliance - The Best Way to Invest in Gold and Silver: www.hardassetsalliance.com/?aff=WTH

[@BaadMotorFinger]

Peter Schiff 2013: Bitcoin is a bubble Peter Schiff 2014: Bitcoin is dead Peter Schiff 2015: Bitcoin is dead Peter Schiff 2016: Bitcoin is a bubble Peter Schiff 2017: Bitcoin is a bubble Peter Schiff 2018: Bitcoin is dead Peter Schiff 2019: Bitcoin is dead Peter Schiff 2020: Bitcoin is a bubble Peter Schiff 2021: Bitcoin is a bubble Peter Schiff 2022: Bitcoin is dead Peter Schiff 2023: Bitcoin is dead Peter Schiff 2024: Bitcoin is a bubble Peter Schiff 2025: ???? And the song and dance continues...

[@shoeorfood]

Thanks for thanking the time to type all that sh*t bro. I’ll put it on a T-shirt 🤟🏼

[@cjs2020th]

@@BaadMotorFinger you forgot “ Bitcoin is going to Zero “ he’s used that at least once a year since 2013 😂😜

[@bradjohnson233]

You can plug many other bubbles into your analysis just change the name and the dates.

[@isthisme-ct9fe]

Bitcoin will out live Peter Schiff Bitcoin wont die

[@SANJ0288]

Perhaps next line will be Peter wakes up at BTC 1 million

[@coltuppal]

Bitcoin ruined peters life

[@valeriecollins7597]

I don't know if that's true. Look at how much publicity he gets from being a contrarian.

[@darwel007]

He refuses to sell out to a program that Buffett calls a scam

[@weho_brian]

@@valeriecollins7597 Peter S is wealthy, but he would have been much wealther, maybe even a billionaire had he invested in crypto and stocks

[@TexasLonghornRanch]

@@darwel007 Buffett also didn’t understand computers or the Internet. Old guys very rarely understand new technology. AI and Blockchain are the future.

[@darwel007]

@TexasLonghornRanch Blockchain and cryptocurrency is an artificial marriage. Meaningless combination.

[@andrewkyriacou1922]

if you have been a customer of Peter's for the last 15 years. I am sorry.

[@krishnamohan9477]

He said invest 5 to 10 percent in gold,. He suggested in instead of American markets invest in otjer markets, people made money in China, india markets also, you are a fool if you think everyone made money in American stocks, crypto etc, many individuals lost money in that in America too

[@_Feed_Me]

Why? Im up

[@darnold1984]

​@_Feed_Me you've been blown the fck out as per inflation adjusted terms

[@jlvandat69]

The problem for the best brains in finance like Peter and Buffett is that their brilliance is often not reflected over shorter time frames. Crypto has been around for 15 years, which is very brief relative to credible assets such as the USD, stocks, bonds, etc. He will certainly be correct, but no one knows when.

[@andrewkyriacou1922]

@@krishnamohan9477 Peter is a fool, his clients are fools for listening to him. Oh and Peter owns no Gold. Most you people are so stubborn and naive. Be real you F-Ed it, you should have bought BTC and you didn’t!

[@benroberts8489]

Peter is the only rational person I know who is talking about the worthlessness of all crypto?

[@Pala-t2p]

The Tulip Bubble; The South Sea Bubble; The Nifty Fifty; The Tech Bubble; The Big Short; THEN Bitcoin - this will go down as the greatest financial scheme of all-time (to date).

[@Noname-bg8sh]

And still some became rich from it

[@jn1mrgn]

The tulip bubble wasn't a financial scheme. It was just a commodity futures market that got out of whack. For a brief moment.

[@Pala-t2p]

@@Noname-bg8sh Well duh lol

[@Pala-t2p]

@@jn1mrgn ... it still demonstrates market and human foolishness

[@douglasthompson9482]

Peter is accurate in many areas…. He seems to have the ability to see certain trending things. It’s just a matter of time for a major correction. I will stay conservative.

[@joeshmoe7317]

You will stay poor

[@gregh7457]

The rich get richer because the poor think every opportunity is a scam

[@cjs2020th]

@@douglasthompson9482 Eh wot ? - If Peter has the ability to see trends then how come he missed the 15 year trend that is digital money? BTC has already had multiple major corrections but as of today it is still a 2 trillion dollar asset ?

[@adamnonnenmacher7774]

@@joeshmoe7317how is putting even 5% of your net worth into bitcoin life changing 😂 at most you 5-10x from here

[@youngman3624]

How To Lose Money starring Peter Schiff

[@BaadMotorFinger]

Let's not exaggerate now, his gold portfolio is up 48% in 13 years 😂

[@Sec_coach]

😂😂😂

[@WInnerwinnerchickendinner.]

Peter has never won a dime in his life.He is a dreamer and the biggest loser of all time.he makes Pete Best look like a real Beatle.

[@blankjohnson6934]

This guy has been so wrong for so long, how is he still relevant?

[@Mrnocosign]

I’m wondering the same thing

[@jonv570]

hes not

[@bahmak2003]

Bitcoiners need some laughing stock sometimes! 😂😂😂

[@ZevUhuru]

Lol. Doomsday capitalist like Peter just need to be right once. That is, whenever the one cataclysmic event they've been warning us about their whole careers actually happens, as long as they're right before they die. For some Doomday Capitalist, they hit GOLD in 2008, for others it will be the next market crash and so on. Robert Kiyosaki is another, there is a lot of money to be made in the industry of Doomsday Capitalism.

[@LeveragedK]

Wrong on what? He's only been wrong on Bitcoin. Given how volatile Bitcoin is, he may still be right. Talk to me after a market crash. Let's see how Bitcoin does.

[@dwaynejones1555]

I actually agree with Peter on his last point. Bitcoin is not unique.

[@joeshmoe7317]

You obviously don’t understand bitcoin

[@dwaynejones1555]

@ 21 million max. So there are others that have less, that need to be mined.

[@sesquivel729]

​@@joeshmoe7317 typical response i hear. So what's special about it apart from other crypto currencies?

[@Noname-bg8sh]

You can Copy the Software of Bitcoin as often as you want to create Infinite amount of new cryptos. So the only unique Part of Bitcoin is people pumping it year by year and finding new people willing to pay more than the previous people.

[@edwardtucker8219]

The first debate from three years ago was great. The two were evenly matched. Let us see how they do this time. I am on Peter's side, but Anthony is no slouch! My favorite Anthony moment from three years ago was when he asked Peter what would happen to the price of gold if we were to successfully mine an asteroid (16 Psyche is a possibility) - not saying it is a probability - but great back and forth last time. Thank you, Both!

[@HuyBui-xv9rs]

He missed the train and now he shit on it. 😂

[@Dontoriano]

😅😅

[@VoiceOfReason919]

And now your watching him talk shit on it while hes making money😅

[@livingart2576]

I love Bitcoin 😊

[@marciabond339]

He didn't miss the train, the train has not yet left the station. Give it one week. Bitcoin down, gold up. Simple dynamics. Smart money will be pulling their money out of stocks and crypto and into safe old gold. Black swan event on the very near horizon. In the meantime, enjoy the rally until Dec 16th. The 17th is a new day.

[@YB-eg3rj]

@ 11:00 peter slapped him 😂 🤟🏻

[@cjs2020th]

Gold has utility BUT no fixed supply - BUT just like BTC the actual price of gold is NOT determined by its utility, it is determined by consensus. - Schiff can’t get his head around the basic fact that actually nothing has any intrinsic value. Price / Value is determined by consensus and free market economies. - Next he will be telling us that a piece of paper with some green ink on it and the number 100 is worth 100 dollars 😢 - It’s actually worth nothing without consensus just as BTC is worth nothing without consensus. - The difference with BTC is that it is rules based with fixed supply, zero counter party risk, immutable and decentralised - everything that FIAT is NOT !!!!!!!!

[@jeff6161]

that applies to everything on earth

[@ratipati2007]

@@jeff6161 Exactly! If you think about the concept of "Value", it is not an objective thing, but a subjective. Value is an idea we attach to objects based on wants and supply. Water is very much essential and everybody need it. But because it available abundantly it's value (and hence price) is low.

[@peterrabson3383]

I beg to differ, gold does have intrinsic value because it hase been used through out history. in exchange, and as collateral for real things. so you would rather 'own' ones and zeros on a hard drive somewhere you see or touch.

[@cjs2020th]

@@jeff6161 exactly 👍

[@cjs2020th]

@@peterrabson3383 Many things throughout history have assumed intrinsic value and been used as a medium of exchange or measure of worth. Rocks for example denoted value, hierarchy and net worth in early civilisations just as in India how many cows you own denotes the same. Does it matter what you use as collateral as long as there is sufficient communal agreement that you can assign value. The fundamental principle governing supply and demand is scarcity or in the case of BTC fixed amount. BTC is just an incorruptible, transparent, rules based, decentralised electronic structure. It does NOT matter what is used providing it has these qualities. The benefit of BTC being digital in today’s day and age is that ( for the first time in human history ) value maybe transferred peer to peer with zero counterparty risk and without 3rd party permission. One of the many concepts Schiff appears to struggle with is that you simply CANNOT transfer Gold in real time across the globe and even if you can physically transfer it, the costs are enormous, time consuming, involve multiple third parties and extreme risk.

[@WalterMangandid]

Great discussion. It is always wise to listen to contrarian arguments so you don't lose balance.

[@user-friendlyhuman]

Peter is great!

[@TexasLonghornRanch]

It’s amazing how wrong you can be and still get interviews.

[@Richest_Person_in_the_World]

Idiots bidding does not make him wrong

[@TexasLonghornRanch]

@@Richest_Person_in_the_World free market pricing?

[@weho_brian]

​@@Richest_Person_in_the_World the point of the game is not to be right or wrong, the point is to make money

[@Richest_Person_in_the_World]

@@weho_brian Really? But the money only comes from other bitcoin longs.

[@Richest_Person_in_the_World]

@@TexasLonghornRanch By that standard, every scam is legitimate, because the victim paid

[@SaySomethingWorthHearing]

Hey peter, you see that boat? It's the one that you missed. He can't stand the fact that he has sat on the sidelines for over a decade as the greatest investment opportunity in history has passed him by. Now he gets to sit and watch money flow from gold to bitcoin. Skeptics are always forgotten, but the innovation they criticized becomes legend.

[@kingpooh6429]

Surely he is trolling he must have btc there is nooo way he hasnt got a stack 😂

[@SaySomethingWorthHearing]

@@kingpooh6429 If it's ever discovered that he was buying BTC, his reputation will be destroyed and he'll be remembered as a con man. He clearly hates seeing BTC's ascent. He's regularly on Michael Saylor's X account scolding him for his bold strategy. His jealousy of Michael Saylor is hilarious.

[@pt5820]

Great job Anthony. Very professional job on not arguing with Peter. My opinion on why Peter Schiff is so hard headed and doesn't want to understand, and is the selling point to most people about bitcoin is the trust that bitcoin offers, there is no third party involved PERIOD, no company CEO, or person behind it. That is what sold me and I never need to convince any one about BTC. If you don't agree with bitcoin that's fine with me. Not every one understands it, even if they say that they do understand it but they still don't like it. Some people are way past not accepting bitcoin. No problem. Thanks

[@Richest_Person_in_the_World]

It's not that they don't understand it, it's that they do understand that bitcoin is worthless

[@cosmosaic8117]

It doesn’t do anything whatsoever. There is no privacy or fungibility such as is offered via Monero. The difference is that Monero is actually used as CryptoCURRENCY because that was the entire point. Do you use your Bitcoin?

[@bbj7383]

Watched a few a Scaramuccis videos... Didn't realize I didn't subscribe... Whoops. This is a good channel.

[@teecavi5742]

I always wonder why when talking about how deficit are created, they all talk about social welfare but never corporate welfare via bailout, subsidies, war industry, military etc;. These safety net have been around since the 20's so why only within the las 30 years have, they become an issue (that's rhetorical). time for full honesty. Still like peter on a lot of issue but that blind spot is on this issue seem purposeful.

[@bbj7383]

Yes yes yes... This! But... If we didn't get the bailouts in 2008 we might not have gotten Satoshi... So in the end maybe the crash was worth the phoenix 🐦‍🔥 that came out of the fire

[@whatarefriends4]

This same type of thing has happened throughout history. Gamblers never ever learn from the past

[@Noname-bg8sh]

You are wrong, what people need to learn is to recognize ponzis and than get early in, thats where the biggest Profit is to be Made!

[@valeriecollins7597]

I suppose that Peter believes the internet has no value, either? 😏

[@Richest_Person_in_the_World]

He explains that the internet has real applications, unlike crypto

[@valeriecollins7597]

​@Richest_Person_in_the_World In cyberspace, yeah! Just like BTC and a handful of other cryptos. Peter just isn't a visionary with the ability to recognize the value.

[@skyisthelimitreadyornotfor2]

@@Richest_Person_in_the_World the internet computer blockchain has all the utility of the internet plus native security features and now allows applications to be built with Bitcoin natively while still on the icp blockchain.

[@Leomarvinman88]

@Richest when governments move to unrightfully take your assets - would it be nice to have something they can’t touch?

[@bahmak2003]

@@Richest_Person_in_the_World bitcoin just solve “double spend problem”! Yeah it has no practical use case! 😂😂😂😂

[@Mark-sy2bx]

When computers started no one used one for decades and when they did it was for basic things like word processing, now it’s hard to go without a computer.

[@misternobody9801]

Bitcoin has been around for over a decade and it’s still not used for anything besides collecting. A currency needs to change hands and circulate through the economy not just be HODL’d in cold storage. So if it’s not used as a currency… what is its purpose?

[@eliot5220]

@@misternobody9801Exactly and nobody can tell you this other than say it’s a store of value. But it has no value to begin with because the thing they say makes it so valuable is what no one does with it. It’s all BS and ancillary businesses pop up to get fees for trading it in US dollars. So you put up your US dollars and the platform takes their cut in US dollars not BTC . So they make money selling you the crap and when you sell it they make money too.

[@Mark-sy2bx]

@@misternobody9801 It's being used for a store of value

[@mikebassett9195]

@@misternobody9801 This is what I don't get. The whole system is based on miners doing transactions but if no one is spending why would they do it.

[@whdndrn]

Tired of this same losing song. Peter should argue why this can go on for 5 more years before a crash begins.

[@josephcoxall7530]

I heard about Peter on KZbin many years ago. I bought both of his books and I believed in his investment wisdom even today. However a new investment category known as Crypto entered the scene and Peter looked at it and decided to stay with his conventional model of investing. No problem with that, but he would have been a much more successful investor if he had listened to Max Keiser when Bitcoin was three hundred dollars.

[@peterrabson3383]

Hindsight is a wonderfull thing.

[@will2461-j2n]

Peter needs to grow up. Bitcoin is not hard to understand. It's just a simple ledger. That's all we need money to be. We don't need to wear the ledger bro.

[@cjs2020th]

Exactly - as a so called economist he can’t seem to even understand the basic rules of money ! ??

[@Richest_Person_in_the_World]

He explains that money is often a Commodity that does something, such as wheat

[@cjs2020th]

@@Richest_Person_in_the_World ? In what way is “ money “ a commodity that does something ?

[@tomjaksen7939]

Btc is QQQ

[@peterrabson3383]

How old are you?

[@yeffblanco]

Good discussion. While I disagree with Peter, it’s healthy to hear his opinion. Let’s see how this ages in one year?

[@JeanieNathan]

Thanks for the information!! All we need is the right advice on how to invest in crypto and we will be set for life, I made almost a million dollars from trading this year regardless of the market conditions. All you need a good mentor to keep you accountable and an unwavering mindset.

[@nicoleSanders-l2q]

Hello! How please? I need your help, I really need to gain my losses back, I've tried a lot of ways in the past.

[@JeanieNathan]

I'v been guided by Mrs Harrietjoe , she transformed my life completely. Honestly, She's an angel!

[@JeanieNathan]

Her platform is really reliable and secured, I joined her discord not quite ago, best decision ever!

[@Piers-f1w]

😱She sounds familiar, I have heard her names on several testimonies.. And both her success stories helping families succeed, she's widely known.

[@Luis-i6c6y]

After i raised upto 125k trading with her , I bought a new house here in the states also paid for my son's surgery (Kelvin) glory to God.

[@MrsBStacyBattleBorn]

Peter has been so right about so many things just like his dad was right. But being right doesn't matter now a days because the system is about doing everything wrong for the average person. Pride, greed, wrath, envy, lust, gluttony and sloth are the ways of the world.

[@downmid]

Central banks aren’t buying bitcoin, but they are buying gold.

[@Tchild2]

What does buying gold do for the central banks? When they say they bought it, what proof do you have that they actually did buy it?

[@petermaag9622]

Yes, and what do you think is next?

[@patrickgrolemund545]

@@downmid no they haven’t

[@ratipati2007]

Peter argues people buy Bitcoin for price appreciation and there is no utility. Well, the refutation for such argument is that majority of gold investors buy gold not for any utility (they are making and wearing Jewelery) per se but only to price appreciation so that their value is preserved if not increases. This basic truth about Gold/Silver investment is terribly missed by Peter. Shame on him.

[@mapacime]

For Peter, people buy BTC because it’s going up forever. Isn’t that the same reason why people buy gold?

[@Richest_Person_in_the_World]

No, gold has uses

[@mapacime]

@@Richest_Person_in_the_World he recomended buy gold to protect against inflation, not to use it.

[@raoulgomes2734]

​@@Richest_Person_in_the_Worldyeah 11% of gold is used in industry, that's nothing compared to how much is used in speculation and store of value purposes.

[@patrickgrolemund545]

@@Richest_Person_in_the_Worldwhat do you use gold for? The same thing most of us use if for-a store of value. Which is interestingly what people use BtC for

[@Twystedwhizard]

I’ve come to think of bitcoin as a commodity that acts different than other commodities. It’s very volatile, like commodities, but unlike most commodities, its movement seems to be more tied to the stock market, mostly the nasdaq. So like a lot of commodities, you can make a ton, but you can lose it quite suddenly too. Now that it’s etf owned, it should be damped down a bit on its ups and downs.

[@deadarmour]

So many boomers in the comments coping

[@darwel007]

You forget that every Boomer was once a foolish young man. 100 percent of them

[@weho_brian]

well most boomers lived prosperously with much lower inflation and have homes and 401ks

[@itssteve6018]

@@darwel007 And now they are foolish old men.

[@itssteve6018]

@@weho_brian Not because of anything they did, lmao. Gifted a growing economy their entire lives and pat themselves on the back. Pathetic.

[@darwel007]

@@itssteve6018 It was never more accurate - "Why does God waste youth on the young?" That comes from someone who was once young!

[@thecitchannel2856]

Peter is right about Bitcoin, but NOT for the reasons he states.

[@Ehole25]

Can u explain?

[@artfuldodgerss]

Never ever debate an idiot

[@Meshuggener929]

He makes an argument that is a very US/developed nation centric perspective…

[@calr4459]

Anybody remember the “Penny Stock” frenzy in the 1980s? “Greed is good”, especially if you’re selling before the fall.

[@crooklyncat3223]

I'm a metals guy, but I was smart enough to get into BTC at $1. What Schiff FAILS TO UNDERSTAND or even talk about is... BITCOIN is worth what it is because of its NETWORK. He says "what has blockchain changed since it's inception?" Well, I can now move UNLIMITED AMOUNTS OF VALUE anywhere I want without having the need to PHYSICALLY move it. What makes BTC so awesome is the fact that we can move our wealth across borders WITHOUT govt to stop us, tax us, etc; and WITHOUT a middleman making OBSCENE amounts of money off of is via fees. Peter will never understand if he hasn't realized this yet

[@SinkyBeatz]

Peter is a great cars seller, he's trying to protect his business, attacking bitcoin with very bad analogies, some of which doesn't even make sense or he's straight lying. Looks pretty desperate.

[@rtra3863]

Peter has cognitive dissonance regarding BTC. His argument contradicts itself, he starts the interview by deriding MMT and explaining the hidden tax of fiat debasement, then proceeds to spend the 2nd half of the interview deriding the undisputed best insulation for this in human history. His beef is that BTC is demonetizing gold but it is doing so because it is a better monetary asset.

[@Tchild2]

PS thesis on monetary debasement is correct. PS just cannot accept that the role to counter monetary debasement can be anything other than gold.

[@Richest_Person_in_the_World]

@@Tchild2He would accept BTC if he saw sense in it, alas there is no sense in it

[@bahmak2003]

@@Richest_Person_in_the_World lol the most secure, portable, globally available non inflationary asset is non sense! 😂😂😂😂

[@lamentate07]

BTC is not demonitising gold. Gold is up. Pay attention.

[@rtra3863]

@ In a world w/o Bitcoin, gold would likely have a higher market cap by ~$2 trillion dollars. I recommend you pay attention to the ratio of gold/Bitcoin market cap.

[@angussmith6825]

Peter is right about use case. Bitcoin has got to start being accepted for payment. Not for everyday payments (coffee, groceries) but for big planned payments: real estate companies, car dealers etc all need to start accepting it. That’s where bitcoin will be best used; for major investments if it’s not being held as a store of value

[@Richest_Person_in_the_World]

There is no value in it hoss. You can't store what you don't have

[@DOFMLUS]

Schiff should be canonized as the patron saint of sour grapes.

[@Richest_Person_in_the_World]

He is the #2 best economist in the world

[@bahmak2003]

@@Richest_Person_in_the_World lol number two and can’t even understand the basic of bitcoin! 😂😂😂

[@xesentertainment]

28:33 however Peter those otger tokens are not built on a fully decentralised platform

[@philb7942]

I'm with Peter. The only sane voice calling Bitcoin out for what it is. Worthless.

[@danoneill2846]

James Rickards is the same ...

[@rtra3863]

Not true, Nouriel Roubene, Nassim Taleb, Warren Buffet, Jamie Dimon & many more all have this view.

[@Rotativo1]

98% of the world population is on that boat. And you are all wrong at the same time lol

[@Judge247]

Schiff is absolutely right about BTC, except of course for the 60% ARR over the last 15 years. But other than that, he’s spot on 👍

[@TexasLonghornRanch]

@@philb7942 the free market says it’s worth $100,000 per coin.

[@KennethAnderson-w4w]

Appreciate the detailed breakdown! Just a quick off-topic question: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). What's the best way to send them to Binance?

[@Neeper78]

This guy could’ve bought bitcoin at $1, $10, $100, $1000, $10,000… He’s the same guy that wanted to ban cars because he was selling horse carriages. He’s the same guy that wanted to ban voice over IP because he’s sold telephones. The same guy who wanted to be an email cause he was selling fax machines.

[@Richest_Person_in_the_World]

Not at all, all the appliances you mention have uses while BTC has none

[@darnold1984]

​@@Richest_Person_in_the_Worldcope

[@bahmak2003]

@@Richest_Person_in_the_Worldlol you can’t use bitcoin because you don’t know for sure! 😂😂😂

[@Blueblackngold]

He’s not for banning anything

[@Twystedwhizard]

He doesn’t want to ban anything, he just sees a tulip bulb boom in bitcoin.

[@MikesGoogleAcct]

What Michael Saylor is doing is exactly what the Hunt Brothers did in 1980.

[@Noname-bg8sh]

Max keiser too shilled silver for years until Bitcoin came along 😂

[@xesentertainment]

27:49 Peter has zero idea of the infrastructure that's being built how long it takes to create these networks remember we didn't get high-speed internet until 2007 AOL first came online in 1994 so there u go

[@Tchild2]

1994 - that was the year I had to wait about 8 minutes for my first nudie pic to render on my screen from the internet.

[@Richest_Person_in_the_World]

So, you are back to Marx theory of value. "I worked so hard therefore I musta created wealth."

[@darwel007]

Consider that Joe Biden and Donald Trump were both leaders of the Free world. Considering that Bitcoin makes a lot of sense.

[@superstar5123]

Peter Schiff is so intelligent, listen and learn from him

[@cjs2020th]

😂

[@markzaffuto3291]

He is dumb on Bitcoin 😂

[@javiermateos1805]

[@packageism]

Peter missed the boat with Bitcoin. Cant wait for the market cap to surpass gold. When it happens please repeat the interview

[@thetruthintheworld123]

I just listened to Peter for 5 minutes and had to turn him off because he is way off.

[@ozanozkirmizi47]

So.... Even the pilot understood but Dear Peter does not? ☺

[@nickorlandos1]

I like Peter but I really hate hearing the same thing over and over again without a guest that can offer a counter point.

[@valeriecollins7597]

When Peter debates against crypto bulls like Raoul Pal and Robert Breedlove, he gets his arse handed to him on a platter.

[@patrickgrolemund545]

The average growth of gold price is about 8% per year. Since its inception BTC has grown in value 108% average per year.

[@candacemaddren4605]

This guy’s attitude is grating and I think it weakens his argument. If he was sure of his position he wouldn’t be so condescending

[@BaadMotorFinger]

He's from the tribe, it's their nature

[@darryllvanderwesthuizen9585]

Just too much of a doomsday prophet and hates the idea of the common man becoming more!

[@Richest_Person_in_the_World]

@@darryllvanderwesthuizen9585So you admit Bitcoin is socialism

[@peterrabson3383]

I think people are more likly to be condescending if they are very shore of them selves.

[@patrickholland5478]

Hard to imagine how many people Schifty has converted to Bitcoin, to be so publicly and profoundly wrong, for so long ... when the early heroes of Bitcoin have their songs sung, there should be a verse or two in their for Schifty, unwitting or not, he's one of the great BTC salesman.

[@bonbonz3011]

This conversation becomes really boring

[@adrianvisentin534]

Lol $10 per Bitcoin is a bubble. Bitcoin has no inherent value.

[@gmckean7]

The problem with gold is it's too difficult to store, verify and transport. Bitcoin solves these problems

[@Richest_Person_in_the_World]

"The problem of not being able to put a $500M palace into your pocket, is solved by the fact that you can put a $0 lighter in your pocket."

[@bahmak2003]

@@Richest_Person_in_the_World you must be suffering from bitcoin derangement syndrome! 😂😂😂 I bought 1 ounce gold and 10 btc year 2014. Gues which one have increased more of my purchasing power? 😂😂😂

[@tonyjohnson7290]

Here we are 4 years later - poor Pete 😂

[@MaxYields]

Peter Schiff is such a clown 🤡

[@peterrabson3383]

Peter Schiff is in charge of very large sums of money, are you?

[@MaxYields]

@peterrabson3383 yes, larger than you.

[@peterrabson3383]

@@MaxYields Broberbly. and my spelling is poor too!

[@ultraullu]

Ask the people who lost more than 2 trillion in cryptos, exchanges in last 10 years

[@spiculum1836]

Bailing the banks out through printing money in 2008 was a mistake. It was a fatal mistake that would lead to the collapse of the fiat system - with or without bitcoin. While fiat collapses, it will take with it every pleb that does not have assets. Bitcoin is an opportunity for any pleb to get themselves a life raft before this fiat ship starts to sink. That window of opportunity for plebs to buy themselves a bitcoin life raft is closing fast and institutions are now buying too and price of bitcoin is going up, making it a smaller raft for what fiat a pleb can afford. So as JP said, bitcoin is not a threat to fiat. Its a life raft from fiat. Central bankers are the real threat to the fiat system through abusive practices that includes excessive printing of fiat money.

[@Noname-bg8sh]

If Bitcoin is valued in Fiat and Fiat collapeses how much is Bitcoin than worth after Fiat? How much will a piece of bread cost in BTC?

[@royalbritishmusketeersmc1166]

Peter has psychosis regarding BTC. Enough already! Regardless of liking the asset class or not, the returns speak for themselves. Get over it Peter, you've been on this rant for years, you're like a broken record and losing credibility fast.

[@Richest_Person_in_the_World]

He is correct and BTC will crash to zero

[@BitcoinandGold]

You can be on the fastest boat in the race, But it still has to take you some where safe.

[@royalbritishmusketeersmc1166]

@@BitcoinandGold You think Blackrock is going to bet its reputation on an asset class going no where safe. Seriously. Nobody is disputing it's not volatile, this is the appeal for institutional investors, not necessarily the case for retail. The genie is out of the bottle. Yes, gold is safe, give Crypto regulatory clarity and it too will be safer.

[@royalbritishmusketeersmc1166]

@@Richest_Person_in_the_World I guess the biggest money manager in the world knows less than you then.

[@mrNashmann]

has peter ever been correct even once

[@deadarmour]

This guy makes so much money being a contrarian to BTC. He probably has like a secret stash or he just has made so much money on gold that he doesn't care if he is telling other people the truth

[@jlsdjd]

Actually.... when you calculate the number of years you needed to work to afford that house in 1962 vs today, you'll find that you now have to work roughly 4.75 times as long to pay for it. These are the numbers (0% interest just to keep it simple): (average pay 1962=$3,712. 2024=$62,027)(Home price 1962=$16000. 2024=$1250000)(Years worked 1962=4.3. Years worked 2024=20.1).

[@jhayton]

why doesnt anyone ever mention the impact of asteroid mining on gold prices. When this happens - next 10 years most likely - gold falls to zero. When this happens, you will only have BTC

[@mhawxhurst]

This is more like 15-20 years methinks, but point is well taken. Most mental mid-jets just parrot the common thought bubbles of society.

[@Richest_Person_in_the_World]

It's an incredibly dumb argument. Gold has uses, whatever its supply is. And its supply is not scheduled to triple any time soon

[@jhayton]

@@Richest_Person_in_the_World I appreciate the humility you show in your criticism and your username. However, we could look at diamond prices in recent years as an example of what happens when a commodity, with practical uses as well as durability and perceived intrinsic value, finds itself up against usable alternatives with unlimited supplies. I dont think the recent dip in diamond prices is the same - but illustrates the effect. When (not if) we do successfully mine asteroids, there may well be a similar impact. Of course, we have to not only mine them, but also bring the materials back to earth - which may or may not be worth the effort. OTOH off-world gold may have a different value to 'earth gold'. Bt hey, you probably prefer to simply insult someone than engage in a polite conversation - what was I thinking...

[@Richest_Person_in_the_World]

@@jhayton"Prove to me that your fantasy coin has value." -"Well... what if 1 million years from now on Mars, housing becomes free? So therefore my fantasy coin is just as valuable as your house." "Oh wow you are right."

[@jhayton]

Hmm prove it has value. Do you believe that the price of gold reflects it practical utility, or does it also reflect the perceived benefits from scarcity and store of value. Does BTC have practical utility - some would argue it does, as an 'internet of value' - and it has so far shown it is desired (wisely or not) in terms of a store of wealth. I can only 'prove value' by looking at the price as it stands and the fact that its total market 'cap' is expanding quite dramatically. Will it continue, I don't know. But my point was that there is not complete certainty with respect to gold values either.

[@VonKirda]

Now we have the YT ads plus in video ads ! Long time no come back

[@villhelm]

Peter looks and sounds more and more pissed off every time I see him. His ego will never let him change his position, even when the US has a strategic reserve and BTC is a millions dollars. He’ll still say it’s going to zero any time soon.

[@MrYogi1212]

if BTC can go to one million in a year, that means it can go to 2000k again in a couple of years. Nothing can go up all the time, competition will come. Technology doesn't st&ne till. Within 10 years a better alternative for bitcoin can see daylight

[@ericmorrison8772]

Wow... Bud, you have no idea what's happening. If bitcoins value was that fickle it wouldn't be at 100k, much less 1 million Bitcoin destroyed the competition (30,000+ other cryptos) and is now the dominate network that CANT be supplanted

[@Richest_Person_in_the_World]

@@ericmorrison8772So you admit that 20k other cryptos have already been proven worthless. It's a step toward your recovery

[@BaadMotorFinger]

​@@MrYogi1212there's already many many other cryptos with far superior technology that Bitcoin just like there are many metals with better physical properties than gold. You don't yet understand the real reasons why they're worth more

[@Noname-bg8sh]

If Trump buys my scares toe nail clippings and declares it a Reserve you all have to obey because thats Proof that my toe Nail clippings are Special. 🥳

[@cheebug]

Peter is my favorite bitcoin critic. I feel bad for him.

[@MagruderSpoots]

Gold is actually a very useless metal, most of what is mined every year ends up forever in a vault. Iron on the other hand, we can't get enough of. And copper.

[@Richest_Person_in_the_World]

That is because you can't afford golden washbasins

[@bahmak2003]

@@Richest_Person_in_the_World lol gold is malleable, not the best wash basin. Copper is way way better and cost cheaper! 😂😂😂

[@Twystedwhizard]

Gold is a fantastic electric conductor and highly resistant to oxidation, unlike copper and silver. It’s much more efficient for small electronics.

[@Sec_coach]

That’s true

[@Sec_coach]

@@Twystedwhizardno it’s not silver is

[@eliot5220]

Saylor is going to lose big. It’s a scam.

[@BaadMotorFinger]

@@eliot5220 for someone to lose, someone else has to be winning. Who's winning or doing the scamming in Bitcoin?

[@Richest_Person_in_the_World]

@@BaadMotorFingerOne half of you are paying the other half. Pretty simple, yet over your heads

[@patrickgrolemund545]

How is it a scam? Because the price goes up and down? I’m genuinely interested in what makes this a scam.

[@eliot5220]

@@patrickgrolemund545You’re not buying a product, service or a piece of a company. It’s a speculative thing similar to placing a bet on a roulette wheel. If too many people try to cash it out at once where will the platform get the US dollars to cash it out ? They will have to pay you with people’s money who have not decided to cash out. Now where is their money? Everybody that buys it is an investor. If you buy a car you don’t want your money back because you got the car. People that buy bitcoin are trying to get rich so they all want 10-1000 times what they put in. Some want 100,000 times a dollar. So tell me where do the platforms get a trillion dollars today to cash everybody out if only a billion was invested?😮

[@eliot5220]

Let’s go back to what he said. Scaramucci said his house cost $19,000 now it’s worth $800,000. That right there is how we got here.

[@smpyyz]

Buy some BTC for your son Peter

[@birinhos]

During years 500 gold was money and there was no utility for gold...

[@mbshawaii]

Oh Pete. Thanks for the comedy

[@conduit242]

The Internet started 29 October, 1969. Peter started using it 40 years later. So BTC has another 25 years before luddites see value in it.

[@Richest_Person_in_the_World]

It would be easier for you to state what YOU are CURRENTLY using bitcoin for. Alas, there are 0 uses.

[@Satronaut-pw3ij]

I could imagine this guy arguing against the deployment of the wheel back in the day.

[@shreddedatsixty]

All it does is roll! Where's the value in that!

[@Satronaut-pw3ij]

@@shreddedatsixty 🤣

[@Richest_Person_in_the_World]

It's sad that Scaramucci got tricked into supporting Bitcoin

[@bobdawgs2847]

I'm sure he's crying all the way to the bank! 😂

[@Richest_Person_in_the_World]

@@bobdawgs2847Well he will be if he doesn't sell before Bitcoin crashes to $0

[@krys9990]

​@@bobdawgs2847 only if he actually cashes out on the up.

[@Noname-bg8sh]

I think of Bitcoin as a Ponzi/pyramid-scheme and since im an oppurtunist i bought some long time ago and so far it paid of 🤷

[@jpifilms1]

The question that no one has answered is, in the future can someone make something better than bitcoin, it is technology. What would happen to bitcoin value????

[@sivi9741]

Supply would go up hence Bitcoin would go down . Doesn’t mean Bitcoin go to 0 .

[@jpifilms1]

I hope you’re right, if something does happen, a lot of people go insane, they’ve lost everything

[@bahmak2003]

The question then who decides what’s better than bitcoin? What do you mean better than bitcoin? Do you mean more hashing power? Did you also ask if there is any better than that will replaced the internet?

[@sivi9741]

@@bahmak2003 the market will decide .

[@Eric_Cartman_30]

0:25 😂😂😂

[@mickygarcia4251]

When you print up a bunch of Tether, then buy Bitcoin with it, that means that Bitcoin is manipulated.

[@deaconaugustine1894]

What do you think they use to mint Tether?

[@Richest_Person_in_the_World]

@@deaconaugustine1894Tether is fake dollar

[@jeff6161]

Would buying virtual weapons used by those online gamers also constitute an investment? They are rare and one of a kind and there are buyers willing to pay hundreds of dollars for the magic armour plate with + 30 defence against magic and fire. It has all the properties of crypto.

[@Satronaut-pw3ij]

Give us an update on where we are. Crypto bad. Thanks Peter.

[@MrSocko-vn7fw]

lol😂

[@Sec_coach]

Silver is much better conductor not that scarce and cheap You guys can’t convince nobody gold is that important

[@piotrrajmundkoprowski4732]

Silver tarnishes. You cannot plate electric contacts with silver. In electronics lots of non welded contacts are gold plated.

[@gregdaugherty6065]

Schiff is an endearing Luddite. It’s always fun to listen to him - irrespective of how wrong he is.

[@chrisbellomo2763]

I love Peter, but listening to him now I feel even more confident in my bullish Bitcoin outlook. No Peter, no one ever said Bitcoin was a straight line going up. Hodlers have endured many drawdowns and will in the future. But since its inception, it has far outpaced gold and is positioned as a world reserve asset. And that’s straight from Jerome Powell’s last Fed update. So I think it’s time to be intellectually honest, and make some adjustment to your viewpoint. You certainly owe that to your clients.

[@Richest_Person_in_the_World]

What is it a reserve of? Some gibberish characters

[@chrisbellomo2763]

@ A reserve currency is simply any foreign currency, held by banks and used to settle international transactions. It doesn’t need to be reserve “of” anything. Example: the US dollar. Backed by nothing but the “full faith” of the US government, and being printed to infinity. And by the way, in every respect the dollar is already as digital as Bitcoin. Except the Bitcoin supply is locked at 21 million (no inflation), and its ledger is immutable (can’t be counterfeited) But it’s OK. You’ll either be part of the future of money or you won’t. We’re good either way.

[@Richest_Person_in_the_World]

@@chrisbellomo2763You're not good, you've paid money for nothing. You've misunderstood where the dollar gets its value, it's from it being a tax credit

[@DxV04]

Wealthion is not what it used to be!!

[@Mellowman468]

And no one is addressing the elephant in the room... Everyone blinded by dollar signs

[@BaadMotorFinger]

@@Mellowman468 when you really understand the potential of Bitcoin, you don't care about dollar signs, they look like the poison sign to you ☠️

[@Mark-sy2bx]

Anyone can create a better phone than Apple too but why aren’t they?

[@Noname-bg8sh]

No incentive

[@rcpcash]

I used to be a huge bitcoin bull but as bitcoin goes up in price our electricity goes up as well.. Imagine if bitcoin hits $1M per coin... This is really hurting people who are already hurting... Why not have a fully gold backed crypto that is super cheap to send. To all the people that are going to say something about power will come online because of the demand.. this costs resources and is a huge risk to investors because of the volatility...

[@Richest_Person_in_the_World]

This calls for centralization because you need a Central where you go to redeem the BTC for gold. More importantly it kills The Moon pipedream, because a crypto backed by $2000 of gold should trade around $2000 in perpetuity

[@bahmak2003]

@@Richest_Person_in_the_World lol so who would trust that global entity that will hold the gold? How easy is it then to verify that said entity hold gold equal to what it should be holding? 😂😂😂

[@birinhos]

Money can be digital and is good that not has phisical aplication. Phisical gold is handycap to be money. Btc clears this defect

[@Noname-bg8sh]

Let KZbin-Likes be Money than too, they are Limited per Video too by the amount of people in the world 😂

[@birinhos]

If you can really own the like registration and trade it and BE really limited it has the properties to be money

[@stuartmckenzie8095]

I am not really a crypto guy, I do have some, nevertheless I believe XPR offers value as it’s tied to services.

[@kristopherg4804]

Came for the comments, cause Peter is a gold hugger and mad cause the world is changing

[@smpyyz]

Haven't listened to the entire show.. Has Peter changed his mind?

[@kingpooh6429]

Have a guess 😂

[@barrywagoner5191]

Yes, Euro Pacific is beginning the process of filing a BTC ETF

[@AP-ib7rf]

do you trade BTC on kali linux?

[@jeff6161]

there's even a crypto named rifampicin. LOL

[@KayWard-uz8uu]

No one has out perform Warren Buffett.

[@gmckean7]

Except Satoshi and Michael Saylor