/biz/ - Business & Finance

>>23691902
Why do you hate based Peter so much?

>>22839693

I love Kinesis and Andrew Maguire, but thought people might find this video where Peter Schiff talks about GoldMoney interesting (formerly called BitGold). It's a different company, but the principles he talks about apply to Kinesis just as truly if not more so. You can break gold down into fragments just as you can a Bitcoin into satoshis. It is possible to buy a cup of coffee with a gold-backed credit card right now.

https://www.youtube.com/watch?v=BjqzyqRz_Mc&ab_channel=Goldmoney

>>22839737

The dream that BTC could be used as a world-reserve currency was shattered when people suffered 3-day waiting times and $100-dollar transaction fees. BTC survives today only as a bubble propped up by fraudulent tether-printing. When the system collapses, the COMEX will go bankrupt and gold and silver will soar farther than ever before in human history. The precise opposite will happen to BTC. Gold is manipulated downward, BTC is manipulated upward. If you bet on the system collapsing, you buy gold. Why do you think BTC dumped so fast in March, while gold remained stable? Deep down, everybody knows this.

>>22348756

Schiff understands that the only use-case of Bitcoin is to serve as an alternative to gold. People speculate on Bitcoin because they have the delusional hope that it will become the new system of money, and go 100x. But either Bitcoin or gold is going to win; you can't have both. And if it is gold which becomes the new system of money, and it obviously will, which is why central banks are hoarding it, then nobody will be stupid enough to trade their gold for Bitcoin after the reset. Schiff doesn't want people to lose everything when the reset takes place. He is especially insistent because the Bitcoin bubble has already burst, so it isn't even intelligent to speculate on it any more; especially when you have junior mining stocks, for example. BTC is a range-bound dead end at this point. Only Twitter moonboys and ignorant boomers are keeping it alive.

Bitcoin is only here as we transition from the old system of money into the new. People buy it as a hedge against inflation. Once fiat is gone, Bitcoin serves no purpose.

Schiff could make a far better case against Bitcoin if he knew more about it. I doubt he's aware quite how useless it is. Even if the LN, which is perpetually "two years away" was widely implemented, BTC would only be usable by 0.1% of the world's population. BTC requires second-layer solutions which track and trace everything you do. Hence it doesn't even serve the purpose of privacy. This is why Mike Hearn left the project in disgust.

https://blog.plan99.net/the-resolution-of-the-bitcoin-experiment-dabb30201f7

BTC looks even worse when you consider the fact that Satoshi is almost certainly Adam Back, the head of Blockstream. It would make perfect sense to me that crypto was designed as a scam from the beginning; as another way, besides the COMEX, to suppress the price of gold, by deluding people away from real money.

https://www.youtube.com/watch?v=XfcvX0P1b5g

As BTC is a scam, every other crypto is simply a scam-derivative.

>>22248458

Schiff understands that the only use-case of Bitcoin is to serve as an alternative to gold. People speculate on Bitcoin because they have the delusional hope that it will become the new system of money, and go 100x. But either Bitcoin or gold is going to win; you can't have both. And if it is gold which becomes the new system of money after the reset, and it obviously will, which is why central banks are hoarding it, then nobody will be stupid enough to trade their gold for Bitcoin. Schiff doesn't want people to lose everything when the reset takes place. He is especially insistent because the Bitcoin bubble has already burst, so it isn't even intelligent to speculate on it any more; especially when you have junior mining stocks, for example. BTC is a range-bound dead end at this point. Only Twitter moonboys and ignorant boomers are keeping it alive.

Bitcoin is only here as we transition from the old system of money into the new. People buy it as a hedge against inflation. Once fiat is gone, Bitcoin serves no purpose.

Schiff could make a far better case against Bitcoin if he knew more about it. I doubt he's aware quite how useless it is. Even if the LN, which is perpetually "two years away" was widely implemented, BTC would only be usable by 0.1% of the world's population. BTC requires second-layer solutions which track and trace everything you do. Hence it doesn't even serve the purpose of privacy. This is why Mike Hearn left the project in disgust.

https://blog.plan99.net/the-resolution-of-the-bitcoin-experiment-dabb30201f7

BTC looks even worse when you consider the fact that Satoshi is almost certainly Adam Back, the head of Blockstream. It would make perfect sense to me that crypto was designed as a scam from the beginning; as another way, besides the COMEX, to suppress the price of gold, by deluding people away from real money.

https://www.youtube.com/watch?v=XfcvX0P1b5g

As BTC is a scam, every other crypto is simply a scam-derivative.

>>21900868

Here come the Bitcoin moonboys.

>>21663923

Schiff understands that the only use-case of Bitcoin is to serve as an alternative to gold. People speculate on Bitcoin because they have the delusional hope that it will become the new system of money, and go 100x. But either Bitcoin or gold is going to win; you can't have both. And if it is gold which becomes the new system of money after the reset, and it obviously will, which is why central banks are hoarding it, then nobody will be stupid enough to trade their gold for Bitcoin. Schiff doesn't want people to lose everything when the reset takes place. He is especially insistent because the Bitcoin bubble has already burst, so it isn't even intelligent to speculate on it any more; when you have junior mining stocks, for example, or even pump-and-dump fads like Link, if you do still want to mess about with crypto. BTC is a range-bound dead end at this point. Only Twitter moonboys and ignorant boomers are keeping it alive.

Bitcoin is only here as we transition from the old system of money into the new. People buy it as a hedge against inflation. Once fiat is gone, Bitcoin serves no purpose.

Schiff could make a far better case against Bitcoin if he knew more about it. I doubt he's aware quite how useless it is. Even if the LN, which is perpetually "two years away" was widely implemented, BTC would only be usable by 0.1% of the world's population. BTC requires second-layer solutions which track and trace everything you do. Hence it doesn't even serve the purpose of privacy. This is why Mike Hearn left the project in disgust.

https://blog.plan99.net/the-resolution-of-the-bitcoin-experiment-dabb30201f7

BTC looks even worse when you consider the fact that Satoshi is almost certainly Adam Back, the head of Blockstream. It would make perfect sense to me that crypto was designed as a scam from the beginning; as another way, besides the COMEX, to suppress the price of gold, by deluding people away from real money.

https://www.youtube.com/watch?v=XfcvX0P1b5g

This was long overdue.