GOLD vs BITCOIN
ฝัง
- เผยแพร่เมื่อ 19 พ.ค. 2024
- 🎙️ Peter Schiff
@peterschiff
/ peterschiff
🎙️ Davinci
@davincij15
/ davincij15
💎 MR.M Podcast
/ mrmpodcast
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⏰ Time Stamps:
00:00 - Intro
00:20 - Welcome
1:32 - What Is Money? (Peter)
4:22 - What Is Money? (Davinci)
11:41 - Government & Money supply? (Peter)
14:20 - Government & Money supply? (Davinci)
21:26 - Why Invest In Bitcoin (Davinci)
24:58 - Why Invest In Bitcoin (Peter’s Rebate)
27:30 - Assets & Ownership (Davinci)
30:31 - Scarcity & Value (Peter)
35:26 - Scarcity & Value (Davinci)
44:04 - Gold 2.0 (Peter)
46:02 - Gold 2.0 (Davinci’s Rebate)
47:59 - Limited Supply
53:50 - Outro
#JeremieDavinci #davincij15 #bitcoin #gold #peterschiff #goldvsbitcoin #btc - บันเทิง
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The way Peter smiles when Gold is mentioned and immediately frowns when they mentions Bitcoin is straight comedy.
Can Peter debate Saylor next? I’ll pay to see that.
They did. Michael destroyed him
I’d pay 💰 as well.. shit that needs to be degen paper view
@@bartz4439Link? No they didn’t. Saylor won’t debate him.
@@chaunceyhart1346 ofc they did :) search option doesn't hurt
Me thinketh Saylor the financial advisor/., snake oil salesman who was spruiking to intelligent people to sell your house and buy this........Titanic!@!?😝😜🤪😉
Peter is a real one, he doesn’t like it but he brought more people to bitcoin than most fulltime bitcoiners
Lol thats probably true, anyway he is smarter than 99% of bitcoiners out there
I was a bitcoin buyer in 2013, sadly I was also a Peter Schiff fan. So I sold my bitcoin because I believed in Peter more than myself because bitcoin wasnt moving anything in like 2 years.
I also am a long time peter schiff listener, which is probably the reason why I only bought my first bitcoin mid 2019. But 2019 was good. Now I have lived through one whole cycle and am more convinced than ever. Also because of the strong distrust against fiat that I learnt from Peter.
@@rebi863 It´s simple you have to know how to ride a scam horse. When u hear the moonboys talk about 100k or a million it is time to sell on the way up. When they talk about bitcoin goes to 8k it is time to buy.
@@RICARDORR18 if he is smart he would keep his bitcoin and sold it in profit he would be a billionaire now
Peter is a Legend and has been for decades and now Davinci is a Legend in his own right.
So much respect to the gentleman on the right, he can listen, do not interrupt and very intelligent.
He is a legend . He was begging people to buy bitcoin when it was one dollar . He had a show for gold and his audience started leaving when he started talking about bitcoin. . He is also a really good person.!
He doesnt come across as intelligent, peter showed him up
@@Heshkinp Peter did what ? 😂
We all love Peter but even Peter himself knows he is talking bullshit . There was not even a single new thing he said that hasn’t been already disproven from whoever understand a few things from this topic .
U realise that if it was a horse race Peter the the last 15 years is in the same place and d avinci has finished 4 times already ? 🫠
Brilliant debate with two legends. These guys offer great education.
What a great discussion, both so polite and funny 👏 thank you for hosting
🙏🏽🧡
Peter was not polite at all. He has a privilege DaVinci doesn’t have. DaVinci is too polite and knows how the world works, despite all his wealth. Peter is playing the ethics card on colonized land filled with blood of the indigenous people and slaves. Now, he wants to play ethics.
Peters hold “claim check” assumes colonizers are honest, as what happen when dollars were the claim check for actual gold-backed fiat.
To understand BTC watch Jack Mallers intro to BTC on TH-cam and you'll understand what BTC is!!!
I imagine Schiff's great great great grandfather who owned a horse and cart said those smelly motorized contraptions will never catch on
Bitcoin is smelly and slow compared to other solutions so ur comparison destroys the argument for btc
@@abstragento0087 is it truly slower? How much faster can you transfer gold compared to BTC?
I can buy things on the internet using electronic money without using bitcoin. Bitcoin is pointless and stupid.
Cars are something.
Bitcoin is nothing.
It’s the tulip craze all over again.
btc has already failed (Scaling & fees), and has no usecase. It is riding the coat tails of gold, even claiming "digital gold" when gold has nothing to do with it. BTCs failure is the reason for so many altcoins. 2ND. No OPEC nation / online retailer has adopted BTC for payment since its inception in 2009. BTC is just for dreamers and now for pumpers and speculators.
I like Peter, but if there isn't a timer for how long each party can speak, Peter will talk until Bitcoin hits $170k!!!
Lol.. no doubt
Ha ha ha!! Right!
Absolute pleasure and privilege to listen to this debate.
100y ago the title would have been: Horse vs Car
During the roaring '20s? In 1924 cars were in common use.
Yes, your right. Horse is a great expression for bitcoin!
@@nkat519🔥🔥🔥
Horse and buggy has been used for thousands of years too. Time for an upgrade Peter!
That's not a good example for comparison. Cars were a luxury that few could buy but contrary to modern nostalgia about horses, people had endless problems with them. The people were very ripe for wanting cars vs horses. It was also obvious to them from the fact that trains were such a drastic improvement over horses that the idea of cars advancing was pretty self evident. For those who wish to buy into bitcoin I say have at it and hope it serves them well but for the same reason I don't play poker I don't play bitcoin because there are many who are much better at it than me. Bitcoin is just like poker, people just haven't recognized the similarities yet
Does Schiff realise that by defining money, he has described the characteristics of Bitcoin? He is either trolling us or being arrogant until he realizes that the new generation prefers digital money over Gold
He didn t describe bitcoin because bitcoin s price is not stable.
@@Loremips9966 it will get stable at a higher market cap, btc is still a small cap compared to other assets like gold,stocks or real estate
@@Loremips9966it will become stable .
@@globalcitizen9485 he understands bitcoin enough to where it would make a terrible replacement for the dollar. As an economy grows, the currency needs to expand. Bitcoin is deflationary by design so it won’t work. I’m part of the “new generation” (millennial) and I’m telling you bitcoin won’t work in a regular economy
We tried precious metal system and it does not work! It will be diluted, confiscated switched around from one precious metal to another like silver standard went to a “gold” standard. Copper and Nickel was used as money to Peter. What’s next? Platinum standard? Palladium standard? Platinum and Palladium are more precious than Gold Peter and more useful in most cases. BTW, Silver is much more useful than Gold in industrial applications. Silver is more reflective and conductive than Gold. And no I don’t want a “digital gold coin” like you suggest that has a third party involvement. One of the many points around Bitcoin is that you do not need a third party to hold it in order to keep it safe.
It's crazy when your idols become the rivals.
What I learned here is that Gold is an asset, but Bitcoin is perfect currency, still in the adoption phase, and therefore a better place to make gains at this time. I also learned that Gold is manipulated by government and institutions, but Bitcoin is still mainly in the hands of the people. There is more hope for a better world with Bitcoin, but gold is still a hedge and still deserves consideration.
Just makes me think I can’t walk into target and buy something with a gold bar
@@Vinnytint2 exactly!! Can’t go into target, Walmart or your local liquor store, take off your gold watch and buy anything. 😂😂
@@Sweethomemovers “ I have rings and a gold watch “ 😂😂 he ended up sounding so old and dated . But imagine jet setting with a million dollars in bitcoin on a tangem wallet and not having to declare anything at international airports but they will take that watch and rings if you don’t declare it .
Mstr considered it but didn't buy I wonder why
How exactly is it in the hands of the people when top companies like microstrategy and blackrock own the overwhelming majority. Just like everything else the market is in their hands
After that debate, I'm sold on Bitcoin. Great debate!
you the best ❤
😂 I don’t understand why one is better than the other. Both serve their purposes. It’s madness that these days you feel compelled to pick a side. I made a lot from crypto and about to again which the profits get converted to physical gold which continues to increase in value when crypto dumps. when crypto dumps and it always does I sell gold profits back into crypto and rinse and repeat. You guys need to wake up
They both have a purpose and nothing wrong with being diversified that way if something ever did happen with mining gear or some crazy natural disaster i guess itcwouldnt matter as there would be complete chaos.
@ryanberube7713 I hold both. But Bitcoin’s properties seem superior to golds in todays world. Bitcoin has a finite supply and is portable. Its also an immutable ledger, the first immutable ledger ever created. If there was a major disaster, then I think we would have more to worry about than bitcoin or gold. Gold could come in handy if we lost electrical power over a long period of time.
@redgatecrt I hold both, but bitcoin seems superior in a world we are heading to.
I like gold and bitcoin a lot but hate the corrupt USD
100% I think U should have both Gold and Bitcoin in your portfolio. But mostly Bitcoin. And leave dollar.
Wait until they will debase Bitcoin 😂
debase Bitcoin 😂😂😂 What world do You live in Weirdo?
Debase Bitcoin?!! You dont know what you are talking about even.
Peter just mad that he didn’t buy a big bag at $6 😂😂
Yeah, he had an obvious look of regret when talked about it. He was early but failed to act on it.
Just because he admits he should have bought to make a profit doesn’t mean it’s anything like gold.
People buy Bitcoin to hopefully make money, people buy gold to not lose money. Very different reasonings.
@@420Gold I feel you. But I would say most people buy bitcoin to not just make money, but to preserve their wealth also. You get the best of both worlds 🙌👌
Sadly Davinci missed or allowed Peter to get away w/too many wrong assertions about bitcoin. Assertions that were easily refuted. For one, there are NOT unlimited number of sotoshis. If bitcoin is limited to 21 million how can there be an unlimited amount of sotoshis when a sotoshi is just a piece of a bitcoin? You CANNOT get infinity out of the finite. It's mathematically impossible. Second, the network is the bitcoin vault. Everybody's bitcoin resides in the same vault - the network thus it never leaves the vault. Thirdly, the custodians of bitcoin are the thousands upon thousands possibly even a million or so of miners and/or validators who each has it's own copy of the blockchain/ledger. Seriously I myself could have refuted damn near all of Peter's point EASILY. Maybe it's bc I've seen some of the code behind bitcoin.
46:32 "Dawg, give me my ting." 😄
Very very classy and respectful conversation.
Lot of good points on both sides.
And best of all Schifft OWNS BTC !!!!😂😂😂😂😂
Davinci was very classy and respectful.
Just that he didnt buy it, but yes. :D
We need Bitcoin because of people like Peter
I like Schiff, ever since pre 2008 crash, guy was screaming at the top of his lungs for people to beware the crash.
However, he's still wrong about Bitcoin hahhaha.
But Peter makes a great point about money and conditions about money and store of value
Schiff also has gotten it wrong many times bud 😂
Schiff is all the time screaming crash crash crash... sure one day he will be right.
@@julianseiler8436a broken clock is right twice a day!
Why does Bitcoin make a good currency?
@@stephenshuman1 BTC has already failed (Scaling & fees) for its claims as money, and has no usecase. It is riding the coat tails of gold, even claiming "digital gold" when gold has nothing to do with it. BTCs failure is the reason for so many altcoins. 2ND. No OPEC nation / online retailer has adopted BTC for payment since its inception in 2009. BTC is just for dreamers and now for pumpers and speculators.
I can't believe Peter is still making a case for gold v bitcoin. He knows he's messed up and is unwilling to admit he's wrong.
That right there is the definition of insanity right there ?❤
He sells gold. But probably he buys bitcoin. 😂
He owns Bitcoin. He also helped Bitcoin. He lost his keys !🫡
@@samuelhostetler9757you must be id10t! 😂😂😂😂 it’s reality, bitcoin is reality
Peter isn’t wrong on bitcoin. He understands basic economics unlike you and knows that bitcoin is a terrible solution as a currency and not as good as gold when it comes to being a store of value.
Don’t confuse store of value vs investment
Peter has no shame..he said last winter BTC would never go back over $20,000....
Did Peter even read the white paper 😂 he reminds me of my parents when they said the internet 🛜 won’t be anything important 😂
Backed by fax machines 😅
BTC has already failed (Scaling & fees) for its claims as money, and has no usecase. It is riding the coat tails of gold, even claiming "digital gold" when gold has nothing to do with it. BTCs failure is the reason for so many altcoins. 2ND. No OPEC nation / online retailer has adopted BTC for payment since its inception in 2009. BTC is just for dreamers and now for pumpers and speculators.
@alfray1072 good God this has to be one of the most ignorant comments I've seen on btc since Peter schiff
@@adiintel1 BTC's failure in scaling and high fees is an undeniable fact that btc fanboys just cannot defend. The only ignorance is your arrogance. BTC ain't gonna save the world, they are part of the problem now, worse, the huge btc owners-influencers are big s_e_x offenders. It is a one big scam now propped up by fake US$ tether LOL how can this be the solution?
@@adiintel1 truth hurts, btc is a failure on scaling and fees. Satoshi has failed
Wishing you the best Mr M. Glad to see you doing your own thing along side juggling everyone else’s endeavors
Thank you so much 🙏🏽🧡
Peter Schiff’s undying belief in gold has the perfect analogy with Thomas Edison‘s undying belief of DC over AC. The better money and store of value will ultimately be determined by the market. Gold has had a 5000 year Headstart and Schiff never will commit to a date where he will have to admit defeat.
See you in 5,000 yrs 🤣
His business is Gold so as long as he keeps trying to sell his business he will never conceit! The fact is that if the gold standard was so good, why did we abandon it? The answer is simple, ppl in power will always abuse it sooner or later... to be honest if ppl where 100% honest we wouldnt even need a gold standard, the whole point of a gold standard is to put limits on the issue of currency, clearly bitcoin fixes this, schiff is blinded by his own greed in his own business.
@@din3832 No one is going to issue currency in bitcoin. And there are over 20,000 cryptocurrencies at this point, there will only ever be one gold in the entire universe. There is no inherent difference between bitcoin and dogecoin or any other failed crypto except its name.
@Louiselea4293
Why do you think bitcoin is a better store of value than gold?
@@din3832 a bitcoin standard can’t replace a gold standard. That’s because as an economy grows, the currency needs to be able to expand and contract as needed. Bitcoin is deflationary by design so it won’t work. The economy would be a in a forever depression if the US had a bitcoin standard.
Schiff is not blinded by his own business. He understands basic economics and knows why bitcoin would make for a terrible replacement for a gold standard
“Nobody needs Satoshi’s..”
Peter Schiff is such a relic… he is as obsolete as an 8 track car stereo!
Hardly anyone uses Bitcoin for money. Just used as a digital code for speculation.
Won’t use it for money till the USD inflates away. Then people will start using their Bitcoin. *Why spend your Bitcoin now* See Gresham’s Law or Thier’s Law…. They are confusing and use opposite styles…. The point is though that Bitcoin is the Good Money…. it may not be used that way until the bad money is less relevant (inflated away or gone).
An 8 track cassette is real music and I can hold it in my hand. Yeah, digital music is nothing but bits of data.Pass the joint Peter and let’s get some food ! DUDE I’M SO WASTED !!!
It was disappointing to hear Peter try to make out like the value of 21 BTC could be decreased by denominating things in Satoshi’s. This is the same as saying you can print more gold by splitting an ounce of gold into grams or milligrams. An ounce of grams or an ounce of milligrams is still the same ounce you held before therefore the same value🤷🏻♂️
He’s either being very disingenuous or can’t grasp very basic concepts
I found Peters perspective here very interesting and insightful, however, at the section at 42 minutes, he talks about pricing / unit of account. He talks about Bitcoin being way too volatile to be a unit of account, such as for a supermarket to be selling goods in Satoshi's. But by that argument every unit of account is similarly volatile against Bitcoin.
At present supermarkets price in currency. These currencies are all volatile at all times against bitcoin.
If Bitcoin crashes well your milk was more expensive because the value of the dollar just went up against BTC, you spent $2 on your milk which is worth more Sats than if Bitcoin had pumped. If BTC had pumped, you'd have still paid $2 for your milk even though that $2 was worth much less Satoshi.
People won't care about the volatility. Things will be priced in, and people will pay those prices. One week I can buy more oil with my bitcoin, the next less, same as how it is with currency right now. Who cares.
I don't want gold jewelry. How can I rely on a Jeweler always needing to buy more Gold? Maybe nobody wants to wear Gold jewelry anymore?
He says when you own gold a third party is just storing it for you. But like hell you'll ever be able to get your hands on it. You'll just hold this receipt forever! But I'd just never want to actually own the physical gold anyway. The jewelry makers market can fluctuate itself so is it that reliable against inflation anyway?
The self custody aspect of Bitcoin is a big boon to retail. Banks use retail for their own profit and simultaneously have the power to block retail from accessing / transacting their wealth. Every person on the planet every month loans a bank their salary.
Thanks Peter you’re like a real life meme for the space.
Davinci- you’re just a legend. That is all.
Why does Bitcoin make a good currency?
respect peter and davinci have this talk. love it
Gold is Stone Age money Peter Sniff. Bitcoin is modern tech money.
Peter has admitted Bitcoin is better than Gold in many ways, the reason he holds the public image against Bitcoin is because his business is Gold, his clients are all in Gold & not Bitcoin. It’s all business, but deep down he knows Bitcoin is Gold 2.0
Absolutely. The minute he bends the knee his business is in jeopardy.
If you believe or don’t believe that’s gonna be on you and you’re gonna be held responsible for that decision.
Book of revelations clearly states metals are the only transactions at that time .
I love the way Davinici kept his cool in this interview.. Masterful! I think Peter Schiff was rude & did what people do when they are losing an argument; and that is talk over the other person and not allow a fair debate. While he may have had some valid points, I think digital is the future. Fiat currency is also subject to inflation, deflation. The value of money is very much constrolled and manipulated.
Yes it's really tough to not react like Peter does and stay calm. Much respect for that. He keeps listening and doesn't continuously shout over it. Peter is like a kid.
nah dont exeggerate
100%
Davinci is the man. The dollar is a dollar. Bitcoin goes up and down. More valuable than the dollar. He can't touch new technology with old ways of thinking.
You can see Davinci is smilling super happy with bitcoin and peter is beat down super frustrated, you can see this right from the get go 30s into this
Nothing guarantees bitcoin will be valuable to everyone forever. Gold being able to be mined at the slow pace it's mined at is what really makes Gold valuable. If one person hoards all the Bitcoin, people will just move on to another crypto or currency, if somebody hoards all the Gold, well there's still opportunity for people to accumulate through mining.
Not to mention Gold can be used practically in real life with hands on use cases, even as a conductor of electricity, or jewelry or many other things.
@@CRAIGC55 if someone just hoards it only makes the other Bitcoin more valuable, since it can be infinetely divisible there is no problem. The main problem with bitcoin today is that we put a price on it on a failed system which is fiat... the gold standard have failed time and time again, for the same reason fiat doesnt work. maybe bitcoin will not be the one and only currency, maybe we will have other currencys competing... probably we will se that as we already have. the fact is gold standard is going back to a past that we know will eventually fail.
@@CRAIGC55 you know if you hoard bitcoin i can mine more too right?
Btc doesn't go up and down 1 btc is always 1 btc it's the dollar that changes in value and is constantly devaluing
You are doing well Mr. M... Much respect to you in particular and your guests, shoutout to Davinci
🙏🏽🧡
Peter just explained why Bitcoin is superior
Great to hear Peter learned and won't make the same mistake of almost becoming a billionaire had he bought BTC at $6 by not buying BTC once again... what???
He just might be a tad bitter about right now. ❤❤
Why does Bitcoin make a good currency?
@@stephenshuman1 it doesn’t. It’s a digital asset or digital property.
@@peacefulgamer so why the comparison to gold? If Bitcoin isn’t meant to be money?
@@stephenshuman1 because it’s mainly a store of value just like Gold except that gold has other use cases. Sure you can pay for things in Bitcoin where it’s accepted but to me that’s like selling my bathroom in my house to buy something. Doesn’t make sense. And not many places accept raw gold either, you’d have to sell it into fiat.
Peter is making an argument he doesn’t understand. He thinks just because BTC is code it’s not something that has real value. Well people thought the same thing about computer software calling it risky because it was just computer code and now software generates billions every year.
Thanks guys, great conversation.🙏🏻
I still love Peter, but I feel kind of sad for him….. He’s still a legend and has done very well for himself, he doesn’t need Bitcoin.
We all need bitcoin
@@kemetblackstudiosllc who are we kidding, he’s got Bitcoin! 🚀🚀
Davinci killed Peter Completely 😂😂😂
Classic, I watched both of them back in 2007 on TH-cam
I agree with Peter’s definition of Money; the GRC has been backed by Black Gold since 1971… ultimately Energy is the most marketable commodity.
Bitcoin is digital energy
@@logann001 lol put bitcoin in your gas tank
Am here thx to Davinci
Da Vinci had the far better arguments, Peter is just sour that he did not by Bitcoin when could do so while it was at $6 lol😂
I love Davinci! He’s a smart dude with a great personality!
A very good and civilised dispute - Davinci is very patient and polite as always :)
27:33 yes. Speed of transaction with OWNERSHIP intact and only can interact with the wallet that received it to be sent out again or swapped(internal sending)
.
Excellent!
Very well spoken!
Way to represent Davinci!!!
Those pushing BTC are the ones all in on it and purchased at super cheap prices. Those that have purchased in the last 3 months are going to get burnt 😂 oh well, you’ve been warned
24:21 Cesare 'bitcoin' Borgia 😂😂 Excellent
Thanks for sharing
46:54 great point from Davinci. Peter was stumped there
What was the great point?
@@SlingShotKid007the point that you won’t acknowledge.
MONEY CAN FAIL
When people act like big Pharma and start saying everything is a scam except what I built my business on, the blindness is self serving. You can own gold and Bitcoin.
And, it is foolish to not buy Bitcoin after the ETF approval even if just to take the gains to get more gold.
Surely, Peter has noticed that outsides returns of Bitcoin and had to have known that at a minimal it was a good trade after the ETF approval and before the halving.
Why would Peter after all this time and observation not take advantage of the trade and opportunity cost?
Also….WW2 and you have to flee and the border guards are not letting you take your wealth out. Do you try and sneak out with 2 million in Gold OR do you buy Bitcoin and hold the seed phrase in you head and have your family remember it?
Hint. You ain’t getting out with the gold. The demand goes down not up.
Matsumusa flood the gold market and crashed the market for a very long time.
Genesis 47:15 (KJV)
And when money failed in the land of Egypt, and in the land of Canaan, all the Egyptians came unto Joseph, and said, Give us bread: for why should we die in thy presence? for the money faileth.
Genesis 47:14 (KJV) And Joseph gathered up all the money that was found in the land of Egypt, and in the land of Canaan, for the corn which they bought: and Joseph brought the money into Pharaoh's house.
Exodus 25:3 (KJV)
And this [is] the offering which ye shall take of them; gold, and silver, and brass,
Fraud and theft are always a real possibility for sure but with a bank that holds your gold you are given a receipt to prove you have it. With bitcoin your account can be hacked and you have no receipt and law enforcement is not likely to concern themselves with it. So the only significant difference is that with gold in the bank being stolen there will be an investigation and people that might wind up in prison
“I’ll be your hero again when BTC collapses” Legendary quote by Schiff 😂
And he will probably on the right side of history
Probably mining in outerspace by that time
@@zeusczardelrosario6766 if mining starts in space gold will be abundant
Legendary because it won't happen. Lol
@@Gianni21M like the titanic I quess
Great video Mr M! Thank you!
@mrM great for setting this up 🔥
Thank you so much 🙏🏽🧡
I liked Peter Schiff s since he debated the socialists at World Economic Forum. LOL
That’s the first time I saw Peter as well. Great respect for what he did. Wish he would not set himself up as the BTC whipping boy. He has put himself in a position as a luddite and he’s way smarter than that.
Davinci with hard facts!!!!
People can easily move on from Bitcoin. People can't easily move on from Gold.
@@CRAIGC55 Do you even understand the concept of real money? Think big, and then you'll see. Bitcoin is for people with BIG IDEAS, not small-minded people, visionaries and not people that have been brainwashed. Don't tell me you've been won over by Schiff? He's good with words, but the numbers don't lie.
@@CRAIGC55 🥱
Absolute fire Mr M, this was amazing to watch🔥
Thanks hermano 🧡
This was such an informative and engaging conversation. Thanks so much putting this together.
Thank you so much 🙏🏽🧡
Peter tells you about connecting gold to the blockchain and totally misses the lack of trust, portability and verification issue that self custody BTC solves. He's part of a monetary system which benefits him greatly and does not want to change despite his complaints. BTC is freedom from that system! Great debate.
Don't you need to trust a third party to buy and sell your Bitcoin? Don't you temporarily hold it in an exchange like Coinbase? Or uhm....the ever so popular ETFs that everyone is bragging about? Oh but nobody cares about not relying on third parties anymore. That used to be one of the main selling points touted about, as well as "not your keys not your Bitcoin" but we won't be seeing those sayings much longer because the ETF directly goes against such an idea and that would be negative for Bitcoin as it means it went up for the wrong reasons and could potentially go down in value if enough people realized that so better to just keep quiet and deny it so I can become a millionaire with the $10k I put in. It only needs to hit $1million!
Need? Nope. Can use yes. Will work without banks, etf, etc ? Yes. That's the difference.@@Billy-zo9bk
@@Billy-zo9bkthe future adoption of bitcoin will rid the need for conversion to fiat to "spend" money.
The world will adopt to it and offer the customers to directly pay in bitcoin. Just like in El Salvador.
Let’s not forget the world banks are hoarding gold while retail investors in the west are distracted by a digital program that looks like a gold coin, that disappears when the lights go out or once a gold backed blockchain comes around from the brics nations, that’s why the price of gold is breaking all time highs while the gold miners are lagging behind.. for now. It’ll be freedom until it’s hacked or regulated away.
BTC has already failed (Scaling & fees) for its claims as money, and has no usecase. It is riding the coat tails of gold, even claiming "digital gold" when gold has nothing to do with it. BTCs failure is the reason for so many altcoins. 2ND. No OPEC nation / online retailer has adopted BTC for payment since its inception in 2009. BTC is just for dreamers and now for pumpers and speculators.
I own both gold and Bitcoin. So far Bitcoin is winning at not only storing my wealth but also going up in value. Peter is wrong, bitcoin is used as currency like in Argentina.
Bitcoin is used more than gold, Peter doesn’t know dark market exist!
My gold is stored in a secure location but it's not particularly convenient if I needed to use it. My btc is with me everywhere and instantly available if and when I need it.
El salvador...you mean
@@joelandrew2900 yes you right. I was waiting for someone to correct me. 😁
@@justinwiseman8965 lol I often confuse the two.
Prime example of can’t teach a old dog new tricks
Peter has a load of information. Very eductational,it is a very interesting podcast😊, thankyou
Thank you so much, I’m glad you enjoyed it 🙏🏽🧡
at 22:30 it goes south for gold.. Davinci strikes gold in the forehead with a smooth stone from a woven sling.....
I like Peter. But seeing Divinci makes me happy.
Money in a bank acc is a nr on a screen somewere. Not even sure if its all there. We can transfer it from person a to b true the bank services if they allow you by the way.
Well BTC is also a nr and we can do the same (transfer) but whitout middleman/bank and permission. And we do know if the btc is there or not bcs its decentralized.
It’s annoying to hear someone argue against Bitcoin when they clearly don’t understand it and is a gold salesman.
Worse. They are arguing about the same thing they promote. Essentially.
@@DanMProductionsBois Haha…. Also true. He could be a proponent of both. If you like gold doesn’t mean you have to hate BTC.
He absolutely understands it, and he has a point. Not acknowledging that is really blind.
Still believe BTC will succeed, but he’s right, it’s not guaranteed and gold is more safe.
@@MacroAnarchy I agree as well. Especially the point he made about gold actually having other value. None the less, with how digital everything is, I think he missed the mark on that a bit.
@@DanMProductionsBois yes, we’re speculating on BTC becoming like gold. It’s not yet, that’s what he seems to be missing. Yes we’re speculating, on it becoming digital gold and once it does, all his arguments don’t really matter anymore.
But until then, he could be right.
Thank you Peter for losing your bitcoin, you’ve helped further strengthen the ledger
Every argument Sciff has could be said about gold
Exactly.
Gold is absolutely nothing, is completely unstable, has no intrinsic value, and requires several fragile systems to function? I did not know that.
@@dandrake337 Oh we triggered a Gold bug - then please explain in what way is Bitcoin unstable? Intrinsic value is BS. And what fragile systems does it need to function?
Somebody please educate Peter that one of the most valuable things on the planet is data and Bitcoin is precious data.
Wow. If you replaced gold with BTC in Peter S. Conversation you wouldn't be able to tell the difference. Both are very similar.
using gold to buy anything is barter, Peter is trying to tell the Gen z kids to use gold to buy some game tokens🤣. His grandson would be like: “what are you smoking grandpa?”
Ooof
ive literally used gold to buy rifles.
If my retirement fund buys Bitcoin or Bitcoin ETF, I will ditch them like a hot potato.
Great interview!! Loved hearing both sides. Davinci won through! 😅
Lovely debate, learned a lot. THank you!
Mr. Davinci knocked Peter out the water even with the FIRST question. Go night night Peter LOL!!!
Bitcoin is not trying to replace gold. It's trying to replace currency. There's a big difference!
If that's its ultimate aim it's failing pretty badly. You can't use it as currency in most places...ETF adoption or not...
@@johnkla7866 Give it time!
Excellent point!
@@mahriathompson6204 It's pretty hard to bill bitcoin as a useful currency given that it's value fluctuates drastically. It is pretty much useless as a currency for that reason. It's baffling that people don't understand that fact. An important reason gold has been a reliable form of money for thousands of years is because of the fact that it maintains a steady value, Bitcoin does not, has not.
Nope if you see it in US dollars term Bitcoin is at 70000us and Gold only 2000us big difference there.. So please stop to be naive
Very Nice conversation, although I would rather see the full video conversation without so many unpleasant Cuts, hopefully it can be posted
@48:55 "..money is just a concept..." Funny, because right in the beginning he agreed that commodities are money.
Mining bitcoin gives it's value
The fact Peter thinks tokenizing gold will give you the same characteristics of Bitcoin is just hilarious.
Gold is already tokenized by Tether. It’s just not as popular.
@@sgriffin3248 tether is not crypto
Such a great debate thanks guys for doing this!
Now Peter is buying Bitcoin 😎👍😁
Why is this so heavily cut? Very bad approach. This is not a real debate depicting the full human interaction. It is a mix of cut scenes. A shame.
Why is Peter pretending not to get bitcoin? He is a smart guy, he doesn't need to fool us :D
I bet he owns at least few k of btc
Great vid, thanks for uploading it!
Thank you so much 🙏🏽🧡
It’s not really a debate tho- Peter didn’t have any actual counter points lol
I’m selling bitcoin and buying gold. I now have 25 percent in bitcoin and 75 percent in gold and silver
Yikes
Shame you will lose as you're not paying attention
smart man... be your own bank. crypto is a classic ponzi... textbook tbh.
DaVinci used to be a huge Gold and Silver bug. I started following him as far back as 2010
How did i miss this. This is legendary. Awesome dude.
🙏🏽🧡 cheers bro
So why doesn't someone create Bitcoin 2.0 with only 10 Million coins? Bada Bing Bada Boom.
Wow, what a great idea. I have even better idea. What about creating coin that only has ONE coin...one coin to rule them all ! Precious !!!
What is that cut at 9:21? Does anyone know what he goes on about before the clip cuts?
AWESOME INTERVIEW!!! 😎👌🔥
Such a good debate!
Thank you Kevin 🙏🏽🧡
Awesome dude! 🎉
Damnnnn davinci shut him downnnnn “ look at my gold watch “😂😂
I came across this discussion via TH-cam algorithm...and I love it!
I like Peter and Davinci. This was a great debate!
Lets gooooooooooo.
Mr. M really trolled us and said we'd have to wait a few days on the Moon Show
I was up all night to edit this masterpiece ☺I'm going to sleep for 24 hours straight now 🤣
Thanx bro!!! Amazing work
Wow, finally someone who knows what the difference between money and currency. You don't really hear that from many people. Thanks Peter.
Amazing trio 😊
Man, Genius Peter Schiff, talking down Bitcoin, while actually being Mr.one hundred. Way to stack in the background sir, good work!
This is great!
Wait until Peter can’t load up his boat with gold 😂
Love DaVinci