I want to start this by saying I'm not shilling one or the other, simply trying to have a honest discussion. I started (seriously) investing in crypto early this year. Since then my investment has grown ~ 8x. I am a newb in investing and most of it was risk management in a bull market.
I am bullish about crypto and hope and think the space will grow in the future.
Peter Shiffs arguments against Bitcoin
>Only speculative value >Hasnt been around for as long as gold >Everyone values gold, not everyone values Bitcoin >Too volatile
His recommendation Goldmoney does sound very interesting. I will research it some more and then probably invest some of my earnings from crypto.
You buy gold which they store for you (they dont invest it), so it is yours and you can transfer it by app or internet from one person to another. They also offer a tenx like card where you can pay with your gold anywhere they accept mastercard.
Beautiful concept. It does mean its centralized though, so you do have to place your trust in the company.
Peter Shiff says blockchain would be more successful if it was backed by gold, which is a strong point.
My arguments for Crypto over Gold
>Decentralized (this might be viewed as a con by some) >Bullish market (lotsa profits) >No ID necessary for a wallet >You own your own keys (no bank or physical storing required)
I'll look into goldmoney only after making enough off coins to be able to afford it
Jack Stewart
I read some people have problems with withdrawing and accounts getting locked. Also its an american company, which I dislike.
It might be legit tho
Brody Lee
gtfo kike
Christopher Reed
Peter Schiff is the most butthurt salty no-coiner in existence. He didn't hedge his bets with crypto and now hes trying to use his soapbox to destroy it.
Daniel Garcia
>My arguments for Crypto over Gold >>Decentralized (this might be viewed as a con by some) Gold is not centralized >>Bullish market (lotsa profits) Until the bubble pops and you lose all your wealth >>No ID necessary for a wallet No id necessary for a swiss bank account >>You own your own keys (no bank or physical storing required) Crypto is also not real and cant be retrieved from a bank
This crypto bubble is pokemom card investing. It will go down as biggest pyramid scheme in world history.
The kicker is that, their are hundreds running at the same time. All follish boys buying non real assets, praying they will rise in price.
This site is filled with children wanting the crypto they own to be the next btc. Sad
Liam Nguyen
>only speculative value The funny part is that gold is the same way. Gold doesn't have some intrinsic value.
Carson Evans
>Gold doesn't have some intrinsic value. Sure it does, jewelry, electronics. If you seen a bar of gold or a wedding ring on the beach, you mean to tell me you would just leave it there...
Aaron Jackson
except gold price over the last 4 years has stagnated compared to btc. If there is a financial meltdown I do want to own some metals tho
Lucas Jenkins
>jewelry Still speculation. >electronics If you want to say that having a use gives something intrinsic value, then everything has intrinsic value.
The reality is that a large percentage of gold is only stored or turned into shiny objects that some people happen to like. It has value because people believe it has value. That's speculation.
>If you seen a bar of gold or a wedding ring on the beach, you mean to tell me you would just leave it there. No, but I would sell it off. I also wouldn't pass up free crypto of significant value.
James Martinez
Ya I guess something that doesn't care about borders or who you are will never be of any value.
Jace Hughes
>crypto is fake and cant withdrw You can literally pay with crypto and withdraw it multiple ways. I have sold my BTC for euro's which got deposited on my bank account multiple times
>Gold is not centralized When you own gold you have to store it. A company or bank that stores your gold is centralized. When you store it at home its also centralized.
>When the market pops you lose wealth Yes this is correct, but like I said im already way up my initial investment.
The idea is to use crypto for profits, maybe leave some investments there but also diversify outside of the crypto space, maybe in gold
This, stability is good. Also when there is a financial crisis crypto will probably drop a lot as well, might not completely plummet because its international.
Joshua Reyes
Since the beginning of time, gold has been used as currency. Bitcoin or whatever hundreds of fake currency you use will fail.
Crypto can be converted, for now. Until bubble pops. The only value is that people will pay you $ for poke currency
Gold is not centralized, you can store it at home.
All you children are selling each other a giant pyramid scheme. ..the trick to keep it going is to keep buying and get new suckers in. And getting suckers is no problem for now.
The worst thing that could happen to btc, is a better fake crypto currency with better use capabilities. Bitcoin will go the way of dogecoin.
Julian Perry
>Only speculative value provides utility in regulatory arbitrage, I cant buy drugs from a dealer in Cali with gold or Visa >Hasnt been around for as long as gold Books havent been around as long as the internet... >Everyone values gold, not everyone values Bitcoin/Too volatile Bitcoin is a growing asset class, it will be less volatile as the price goes up (as we have seen) and the ecosystem grows
>Goldmoney Fucking stupid, its the gold standard on a blockchain that is not immutable, nothing new
Bentley Nguyen
Umm... There is a cap of 21 million btc that can be created.
Having gold in a cheat at home can be stolen from any theive. Which is centralized by definition.
Fiat, ssi, and gold are all pyrimid schemes by definition.
Btc can't be related to dogecoin due to a multitude of factors that I'd recommend you research.
You're basically saying that Microsoft and overstock are wrong in investing and accepting btc.
You're really ignorant to the fact that something that doesn't care about borders or who you are isn't of value. You will be left behind. You will one day realize that btc doesn't care about you or your feelings.
Hunter Morales
>Since the beginning of time, gold has been used as currency. Wrong. There was a time before gold was used as currency, and it isn't used as currency now on any meaningful scale. I can't walk into the grocery store and buy food with gold. >Bitcoin or whatever hundreds of fake currency you use will fail. Real currency is whatever is used. Bitcoin isn't really currency for the same reason gold isn't. Currency is USD, EUR, etc.
Connor Long
>investing Zero investment. ..they take dollars. Dollars that you first trade for btc >Wrong. There was a time before gold was used as currency, and it isn't used as currency now on any meaningful scale. I can't walk into the grocery store and buy food with gold.
In a few years, when all cryptos fail..please try to buy anything with crypto.
I guarantee if you brought a few bricks of gold, they would sell you the whole store. I would sell you my home for a few pounds
Zachary Peterson
Wrong. Microsoft has been investing in eth. Ibm has been investing in blockchain tech.
You're very much outdated on something you seem to think you know.
Thomas Sanchez
>In a few years, when all cryptos fail we will be laughing at old gold bugs like you who will still be salty nocoiners despite btc being >20k
Julian Edwards
People like him are good for us, if he can scare away the normies we can continue making gainzzzz
Cameron Gomez
>In a few years, when all cryptos fail..please try to buy anything with crypto. wait, actually you know what? we are already laughing at you >b-b-bitcoin is in a b-b-bubble people were saying this since btc hit 1$
Ryder James
>Since the beginning of time Appeal to tradition. Sorry dude, but gold has no advantage over crypto as well as a few extra disadvantages.
Hunter Carter
>Since the beginning of time no, not since the beginning of time. also people were trading shells in certain cultures. What about reading nick szabo's blog, you know, the guy who is highly suspected being satoshi? it's not like he invented bitgold out of thin air, he really studied what money and value are. He surely knows more about gold than you. unenumerated.blogspot.com
Jaxson Rogers
>crypto has no value because it only can be used as payment when there is a suspected guarantee that others will convert it to another usable currency
Literally fiat, if everything in society fell apart gold would still be used for nothing other than jewellery. Assuming full collapse noone is making electronics anyway, what would you pay for that service with? Gold?
Owen Kelly
Crypto
>Requires computer and internet access to use >Transactions are horrendously slow due to blockchain tech. >Market is mostly pump-and-dump >No other applications besides speculation >Middleman required for trading, who take hefty fees >Id required for trading >Not decentralized -- Minority of miners control most of the network; minority of companies control the market; minority of devs control the development of coins >No recourse if you get swindled by an exchange, other than hiring a lawyer and suing the exchange. >Black Swan events can destroy all of your investments in an instant
Gabriel Phillips
Please know that Peter Schiff owns a company that sells gold. He clearly has a bias against bitcoin because he will lose business.
Matthew Rodriguez
Same goes for crypto shills.
Cooper Wilson
Reminder that gold from all over the world was accumulated at a discount in the 60s and is being sold back to goyim who think it will save them when shit hits the fan
Adrian Hill
Yup. Don't forget the guy literally sells gold.
It's fucking simple to me. Once capital controls set in, you can't take gold out of the country. Even today you can't take significant amounts out (10k?). You memorize a pass key and you've taken 100 million out of a country using Bitcoin
Xavier Gutierrez
>Requires computer and internet access to use Wrong. You can have a mobile phone. Blockstream launched a satellite so that you can make transactions even without internet. >Transactions are horrendously slow due to blockchain tech. Due to chinese miners spamming the blockchain. The scaling issue will soon be resolved. Other than than my Tx always took less than 2 hours. How long does it take if you want to send your gold to another country, or to make an international wire transfer? >Market is mostly pump-and-dump With shitcoins yes, but they wont last long. There may be just a few useful cryptos, all the rest are shitcoins. BTC is king. >No other applications besides speculation Exact same application as gold, + you can transfer wealth internationally. It's a hedge against fiat inflation. >Middleman required for trading, who take hefty fees Wrong, you can trade from person to person. Same with gold, brokers take a fee. You can't trade gold person to person because counterfeit gold is impossible to see without professional assessment. If I sell you gold with tungsten inside you can't verifiy. On the other hand, you can't counterfeit bitcoin and dont need a 3rd party to know it's a real one. >Id required for trading Not in some countries like Switzerland. You also need ID in gold 4 cash shops. Not decentralized Decentralized. No government can own the blockchain. More than 100 devs from all over the world (some anonymously) work on the code. >No recourse if you get swindled by an exchange, other than hiring a lawyer and suing the exchange. Same with everything else in life: you get scammed you need a lawyer to get it back. >Black Swan events can destroy all of your investments in an instant Yes, it's a risk. And those who take it are highly rewarded.
