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>>3011276 (OP)
>based on faith
so just like fiat. confirmed bitcoin is a full fledged currency
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>>3011366
>hates stocks
He hates U.S stocks, and it's not that unreasonable to right now. Very precarious.
>he's a gold bug
Having some gold or selling gold for a living doesn't make you a """gold bug""". I have some cryptos, the mainstays like BTC, ETH, and get some decent money by buying and dumping the cheap ass alt coins, but I have hundreds of ounces of silver as well, and 2 ounces of gold. They're great for recessions and depressions, and for maintaining purchasing power.
I'm glad we have crypto, but cut the faggotry and stop thinking that having hard assets is for old people.
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>"digital fiat"
>fiat means legal tender by decree of government
but that's wrong you fucking retard
read a fucking book
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>>3011276 (OP)
Damn I used to respect Peter Schiff back in 2010 because he somewhat predicted the 2009 crash, but now I realize he's just a complete moron.
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>>3011276 (OP)
>based on faith
But that's wrong though. Digital currency has value because it allows you to do things you couldn't otherwise do with it. The more powerful digital currency is, the more its intrinsic worth increases. For a loose analogy, think of a money order. It isn't worth much unless you need it for some transaction that can't be done any other way. That gives it its value. What it can do above and beyond fiat currency. If I want to send money to someone in some other country and I want it to get there fast and I want it secure and I don't want to pay anything, what choices do I have? BTC comes to mind as obvious. So I exchange some fiat for it. It becomes valuable. There are many people like me who see value-add in cryptocurrency thus the existance of exchanges. This is just one example.
tl;dr this guy is a tool and doesn't have a clue.
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>>3011276 (OP)
Isn't the defining characteristic of fiat the ability to infinitely generate it? Which Bitcoin explicitly by its very nature does not have? Having faith in open and unhackable code makes a hell of a lot more sense than in current world governments.
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actives the almonds
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>>3011276 (OP)
Gold is just based on human faith in a shiny object that comes out of the ground.
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>>3011276 (OP)
Anyone who says BTC is fiat either doesn't understand the term fiat or doesn't understand BTC
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File: Identifying Arguments.jpg (237 KB, 598x792)
Also,
>“Look [Bitcoin] is never going to be used as money,” Schiff tells Keiser. “People can buy it, and the price can go up until the price collapses, and people don’t want it anymore.”
>see pic related
>“Amazon is one, there are hundreds that went to zero,” says Schiff. “So how do you know? What if somebody comes up with a digital currency a year or two from now that is so much better than bitcoin? It’s everything bitcoin does, better, faster, and cheaper. Everyone then wants that new one, and nobody wants bitcoin. It’s worthless.
>What is paying attention to the market
>What are stop losses
>What are crypto exchanges
This is some fierce nocoiner fud
wonder if he'll kill himself whenever NASA starts mining asteroid gold and his precious shiny metal instantly equates in value to aluminum
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>>3011679
Wrong pic kek, lost my train of thought
been high on crypto for 30+ hours
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>>3011276 (OP)
I'm baffled.
This guy spent DECADES of his life thinking about gold and currencies and he still doesn't get it!
He believes the value of gold isn't also based on faith, but it's 'real value'.
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I thought this was a Nigerian (You) mining forum.
>all the while implying that (((economists))) can do no wrong.
Honestly though I think articles like this (no substance, no valid arguments) are just attempts to temporarily drive down the market to get in st a lower price.
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>>3011341
Fiat itself is not a """full fledged currency""".
>>3011569
It's valued in fiat. Fiat printed for governments by privately owned banks that tell those governments to pay it back and then some...even though governments can easily just issue their own currency debt free, no (((Central Bank))).
I wonder, can Bitcoin be a unit of account the way gold can? I.e can it rise to meet inflation and ultimately account for every dollar in existence?
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Hi, I'm Peter Schiff. Next election, I will be the president.
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>>3011847
this.
I'd consider myself a goldbug but I've outgrown the phase Schiff is stuck in years ago. Gold and fiat can (and do) coexist peacefuly. Gold, fiat and Bitcoin (Cryptos) can too.
Just look at the nonsense that other moron Jim Rickards has written on ZH. He want's to back Bitcoin with gold now. These guys will never learn.
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>>3012025
Bancor was already a way to steal BTC and ETH from people. I wonder what will be their next trick...
>He always preferred to exchange rather than buy, and he had a trick of thrusting some useless article into one's hand and then pretending that one had accepted it. Once I saw him take a good overcoat from an old woman, put two white billiard-balls into her hand, and then push her rapidly out of the shop before she could protest. It would have been a pleasure to flatten the Jew's nose, if only one could have afforded it.
>GEORGE ORWELL
>DOWN AND OUT IN PARIS AND LONDON
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This stupid currency nihilism is retarded. Everything is worthless in some sense and has a value just because people give it to it.
Fiat currencies are not bad because "omg nothing has value" but because it's owners(me, you and everyone else) are not in control of it and governments are CONSTANTLY forging money devaluaing your wealth.
That's the difference between fiat crap and gold/bitcoin/whatever. Gold is just not practictal for too many reasons to start listing them. Blockchain is reliable enough to use for payments and as a currency. It has a lot of problems that still need to be solved but currently it is the only possible solution to countries and elite manipulating everyone's wealth.
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>Jew bashes Bitcoin
Big surprise here
Do the opposite of what Jews tell you
>wage cuck
>401k
>use drugs
>don't get married or have kids
>trust kikes to run banking and media
>like diversity
>jerk off to traps
>inflation is good
>borrow 500k for college
>hate white people
>fight wars for Israel
>be a nihilist
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>>3011276 (OP)
All tender and value stores are based on faith, what is his point?
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>>3012573
>401k
If you hedge on taxes rising or falling in the future and if your employer matches you its good because more compensation.
>use drugs
Aren't Jews opposed to drug use?
>>don't get married or have kids
>getting half your wealth stolen by bitch or your entire life stolen by kids
>be a nihilist
Isn't that against Jewish principles entirely?
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>>3011276 (OP)
I like Schiff because of my past lolbertarian self, but listen to the kind of shit Paul "The internet will make about as much impact as the fax machine" Krugman has said about BTC:
https://krugman.blogs.nytimes.com/2013/12/28/bitcoin-is-evil/
Dear Peter Schiff, when your opinions align well with Paul Krugman regarding emerging technologies, it's best to re-evaluate your opinions. Boomers, even ones that are otherwise well educated and smart, are fucking worthless when it comes to evaluating emerging tech, they are so used to things being a certain way (and working for them) that when something with massive revolutionary potential comes along they can have trouble recognizing it.
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>>3012725
they want other races to fail. Telling them to do drugs and become worthless is a great way of doing that.
Look at popular media today. DUDE SMOKE WEED rap, glorifying coke and acid trips ect.
It's all a way to keep us subdued and weak.
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>>3011276 (OP)
Crypto is like fiat + stocks + Forex
You could live on Mars and participate on cryptocurrency (if you have internet and the Mars base will have cryptobanks) whereas stocks and Forex can't reach Mars.
Also, there's already a coin where you can mine that specific coin through solarpanels rather than computers/mining rigs. I'm not telling you which coin that is, but if your research skill is excellent, you WILL know.
Yes, I'm living 25 years ahead of you, fags.
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the only thing i see that's safe is SOLID GOLD BARS. just like from looney tunes
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>>3011276 (OP)
>https://news.bitcoin.com/peter-schiff-cryptocurrency-market-signals-w rong/
a literal gold shilling jew
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>>3011276 (OP)
>[Bitcoin] is the same concept. It’s being created but there is no real value in bitcoin it’s all based on faith. If somebody doesn’t want your bitcoin there’s nothing you can do with it right?
its funny because his comments on Bitcoin could be replaced with gold, yet he doesn't see the irony in this at all
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>>3011679
Also you could make this argument with everything
>“Horse is one, there are hundreds that went to zero,” says Schiff. “So how do you know? What if somebody comes up with a transportation a year or two from now that is so much better than cars? It’s everything car does, better, faster, and cheaper. Everyone then wants that new one, and nobody wants car. It’s worthless.
Gotta sell my car right now.
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