/biz/ - Business & Finance

>>17413724
because he isnt

>>17413724
he is extremely based because he understands the fed and the damage they have wrought with monetary policy
he understands why capitalism is superior to socialism
he also understands that BTC is a ponzi scheme based on greater fool theory

>>17413797
Yeah, but he missed out on massive gains because of his bias

>>17414108
he has been recommending the public and his clients to buy gold since it was $300/ounce, and since 2016 gold stocks outperformed the sp500

his advice only underperformed 2012-2015
2000-2011 he massively outperformed with commodities and of course when he shorted subprime in 2008, he made 10x what his hedgefund put it

so to be blunt, you are wrong

>>17414149
>ignoring that he missed Bitcoin, the greatest appreciating asset of all time
>ignoring that he still refuses to acknowledge the future potential growth of Bitcoin

>>17414168
Bitcoin also has future potential to go to zero which gold doesn't.

>>17414201
says who? you?

Peter Schiff clearly knows a lot more about economics and finance than anyone here and it just goes to show that literally no one can predict the market's moves 100%...it's all educated guesses as to the timeline and exact playouts.

>>17414149
Yep - i sold gold at its ATH years back in 2012 if i remember correctly. 8nyears later and this shit is still below the price. lmao

Verge brought me in only 1 year 700k % return.

So his clients pay money for a fool.
They should better payvme for advice how to make money.

lol

>>17414168
the vast majority of people missed bitcoin if you are talking about its rise from sub $1
his comments about bitcoin are correct
it has no use case other than to sell to someone else for a higher price
gold has industrial demand, is used in computers, phones, dentistry,jewelry etc.
and its scarcity + natural industrial demand( key) allow it to actually be a safe haven

just because btc is scarce is meaningless, it has to actually have a use case

>>17414259
going to just cherrypick the top, and ignore the fact that he has been saying to buy gold since $300?
going to ignore how he beat everyone in 2000-2011, and is poised to do so this decade with the way the fed is printing?

>>17414226
Says any objective person that understands developing tech, markets, the economy, and physical chemistry. Bitcoin is entirely dependent on complex networks, human psychology, and politics to retain value...gold is elemental and has value at each tier of complexity through which Bitcoin garners any sort of value. I'm honestly not trying to get into another argument with someone who is either unwilling or unable to think rationally. So if you'd like me to explain it more conceptually, I will, but if you're just trying to argue from a perspective of willful ignorance, then I don't have time.

>>17414293
he was shilled bitcoin from the early days, and chose to ignore it despite being a libertarian, and missed out. everyone has repeated BTC's use case over and over. not only is it scarce, but it can be transmitted anywhere in the world relatively instantly, in any amount, without the need for a third party, and cannot be censored. gold has uses cases too, the two aren't mutually exclusive.

>>17414293
Bitcoin does have many use cases beyond just trying to sell it to someone else for more value. Unfortunately, most people solely view bitcoin as a place to park money, hoping it'll go up. I see Bitcoin going the way of AOL: AOL was hugely instrumental in getting people to start using the internet, but became obsolete as technology advanced. I imagine BTC will be similar, especially if miners don't transition to nuclear power.

>>17414324
okay, so by your definition...any asset can go to zero if it's not physical? google, microsoft and apple too? I don't understand what argument you're making here. bitcoin gives it value because the free market decides to give it value, just like any asset.

>>17413724
>Muh Bitcoin is dropping to 1$
>Muh Bitcoin is dropping to 1000$
>Muh Bitcoin is dropping to 3000$
>Muh Bitcoin is dropping to 10,000$
>Muh Bitcoin is dropping to 30,000$

When does this boomerkike admit hes full of shit and just hang himself, taking predictions, feel free to change them 7 times when all previous ones were wrong. Who actually takes someone like that seriously, even a broken clock is right more than he is.

>>17414347
are you really going to tell me the vast majority of people are not simply buying BTC to speculate, but instead are using it for commerce on any large and meaningful scale? dont kid yourself, this is a speculative casino and nothing more

>>17414347
There are SO few people who have held BTC since its early days, and I'd be surprised if it is more than 50 people who have held BTC since 2010 with the sole justification of it being that they portended it being an extremely valuable investment. I think most people who happened to hold that long got lucky because they were buying or selling drugs, and I'm not sure if BTC would be worth anything at all if it weren't for the Silk Road increasing its popularity.

>>17414347
Gold is a speculative asset whos true purpose has no use to the majority of people, especially not in large amounts. A few pieces of your cell phone. Its wildly overvalued and I fully expect it to tank as Bitcoin becomes the preferred speculative asset. It has a much more wide reaching use case, everyone can use it. Im not a Bitcoin supporter though really, by the time "everyone" is using it theres no way 7TPS is going to be viable. Pick another top 10 crypto with high amounts of ATM acceptance. BCH, LTC, DASH. Not Eth, because it cant scale either.

>>17414408
you're right. but it's the same thing with gold. people use small amounts of gold to make jewelry and electronics, but large amounts of gold are hoarded and traded the same way crypto is.

>>17414384
I didn't say "any asset can go to zero if it's not physical." Comparing a commodity to equity in a company is a stupid comparison (as is comparing Bitcoin to equity). But if you want to make that comparison: yes, it is much more likely that either Google, Microsoft, Apple, or any subset of the three goes to zero than gold going to zero unless we were to somehow develop a cheaper polymeric/ceramic material that has all of gold's properties and is cheaper to use than gold (in which case, gold still wouldn't go to zero).

>>17414466
just so wrong its not even funny
jewellry market is a $300 billion market, every singe smartphone and computer on the planet uses gold in its circuits, please can you just stop

>>17414478
would you accept 1 bitcoin right now if I sent it to you?

>>17414108
He has his morality intact

>>17414510
retard, the market cap of gold is 3 TRILLION

>>17414540
*7 trillion

>>17414439
Ironically, only people using those small bits of gold in their electronics can "use" bitcoin, otherwise they are reliant on someone else's electronics since Bitcoin's network is dependent on a lot of computers which use a lot of gold in their electronics.

>>17414466
This is also true. The US Federal Reserve, the SNB, and central bank of russia hold over 70% of the known gold in the world if I'm not mistaken, which causes an artificial scarcity and people can argue about how more liquidity would affect the price.

>>17414540
yes, and jewelry is ONE market

https://www.statista.com/statistics/299609/gold-demand-by-industry-sector-share/

please just shut the fuck up and dont reply, just embarrassing

>>17414540
you clearly have no idea what market cap means or represents, jewelry accounts for more than 50% of global gold demand, with bar and coin purchases coming in second at 25%

>>17414514
What point are you trying to make? We aren't discussing the current market value of Bitcoin. Would you rather have had AOL stocks in 2007 or today? I imagine you'd probably rather have had them in 2007 when they were worth a lot more. Sure, I would gladly accept a bitcoin from you and I'd immediately sell it and put it into an investment that I think has a future.

>>17413724
He is consistently 5 years too early in his predictions and that should always be taken into account when listening to his advice.
BUT thanks to him I put over 50% of my portfolio into mining stocks and PMs, and I seem to be the only person in all of cryptoland and stock market general who is up and rising right now.

>>17414685
You're posting on a board of people who all hold Chainlink. If you think you're the only person who is up right now, you're sadly mistaken.

>>17414721
I hold LINK as well.
But there's definitely no insignificant number of linkies on this board who are down right now. Pretty much nobody who has bought gold, silver, or mining stocks in the past 12 months is anything but up right now.

>>17414751
The people posting about being down on Link are joking and think they're funny.

>>17414929
Literally anyone who has bought since Feb 13th is down right now.
Anyone who has bought gold or silver since Feb 13th is up.

>>17414958
Ok...no one here has bought a significant amount in the past week and a half. Gold and silver are up a few points. Chainlink is up like 50 points since January 13th. Zoom out.

>>17414958
>who has bought since Feb 13th
Nulinkers aren’t people

>>17414958
What i'm trying to say is: your precious metal profits in the past week are neglibile amounts of money. Can you even buy a day's worth of groceries with your profits from the past week?

>>17415125
Yes.

>>17413724
Cause he support Ron Paul, the absolute God of this gay planet, and understand how basic economics work.

>>17415086
In that same time frame my top gold mining stock hold is up 41% and has paid me out a 3% dividend.
And keep in mind, I also hold LINK.

>>17414587
We just reached peak smartphone saturation, its all downhill from here.

>>17414587
Also gold is recyclable and they have drop bins for your old phone that pay you out for getting rid of it. They dont need to buy off the market, thats a recycled economy. The money just goes in circles without effecting prices.

>>17415086
Gold has been climbing for over a year faggot.