Peter Schiff

[Anonymous No.25176285]

>the value of bitcoin is completely a function of the confidence people have that they will be able to give it to someone else at a higher price

[Anonymous No.25176343]

As with any investment.

[Anonymous No.25176354]

>the value of gold is completely a function of the confidence people have that they will be able to give it to someone else at a higher price

[Anonymous No.25176355]

>>25176285
Everything is a bubble, except for what I sell

[Anonymous No.25176380]

>>25176285
In what way is that different from Gold?

[Anonymous No.25176449]

>>25176285
>>the value of USD is completely a function of the confidence people have that they will be able to give it to someone else at a higher price

[Anonymous No.25176558]

Same can be said about anything really that you cannot eat or make tools out of.
Gold and diamonds? Overvalued pieces of metal and rock. If your hungry you cannot eat them, don't have much practical use either. But you know that if you don't have food you can trade gold to get some. They are valuable because people assign value to them and you know you can trade them.
Same can be said about crypto, stocks, currency etc.

[Anonymous No.25176759]

Why do people still listen to this boomer?

[Anonymous No.25176943]

>>25176285
Literally every cryptoken

[Anonymous No.25177073]

>>25176449
Same price not higher

[Anonymous No.25177094]

>>25176285
Lol how did some1 get this picture

[Anonymous No.25177137]

>>25176354
>>25176355
>>25176380
>>25176558
>NO YOU'RE SUPPOSED TO INVEST IN MY FUCKING ROCKS DON'T YOU SEE YOU CAN HOLD IT IN YOUR HAND AND SMELL IT AND IT'S SHINY AND YOU YOU CAN ALSO SELL IT TO SOMEONE AT A HIGHER PRICE BUT THE MAIN POINT IS TO LIKE SHINY THINGS FUCKYOUFUCKYOUFUCKYOUFUCKYO

[Anonymous No.25177140]

>>25176285
https://m.youtube.com/watch?v=mk5s2KUgxqY

[Anonymous No.25177229]

>>25176380
gold is a commodity that will always have utility(and therefore demand) regardless of how much demand there is for it as a speculative asset intended for profit

bitcoin has no utility at all and therefore cannot be a store of value

fiat currency also has no utility and doesn't even have the advantage of having a fixed supply like commodities and crypto, so it is even more worthless.

schiff will win in the end and /biz/ will see glorious schiff posting, but this place will be an absolute ghost town at that point.

[Anonymous No.25177228]

>>25177094
KYC on binance is public domain
The employees share the pics on their social media and they all pick their new alter-egos

[Anonymous No.25177236]

>>25177229
well let's hope he wins before he dies of old age

[Anonymous No.25177466]

>>25176558
except gold, silver, diamonds, the like,.. are all in high demand for industrial and tech uses not to mention gold, silver, gemstones, having a 5000 year history of being used as "money" not "currency"

crypto is all a vapourware ponzi pyramid scheme

[Anonymous No.25177522]

>>25177229
Gold has no more utility in the modern age. Everything it does can be done better by any other mineral. Theres more reciprocal subconductors, theres shinier metals and theres better store of values for trading. We dont even back currency using gold anymore,

Gold derives its value exactly as bitcoin does. It laborious takes amounts of time to ‘mine’. It can be used for investment and trade. And it’s perceived value increases over time.

Except bitcoin does everything better.

[Anonymous No.25177563]

>>25177466
False. Gold is substandard for tech. Graphite (pencil lead) is superior in everything it does and way cheaper.

Diamonds on the other hand are artificially kept high in price by a conglomerate monopoly, otherwise its actual value is lower than what it actually is

[Anonymous No.25177646]

>>25177229
>and therefore demand
Treating demand as binary is an abolutely brainlet take. Without hoarding gold price would crash with no survivors.

[Anonymous No.25177741]

>>25177137
Retard, you invest in rock because they're USED IN THINGS not because they're shiny

[Anonymous No.25177795]

>>25177229
>this place will be a ghost town by then
so you agree that gold will NOT moon in our lifetime?

[Anonymous No.25177811]

>>25177522
>>25177563
tell yourselfs whatever fantasy you like to support your foolish and dangerous overconfidence in vapourcoins

[Anonymous No.25177843]

>>25177811
? Nothing I said was fantasy. Gold is substandard in tech. Gold has no utility in the modern world. Golds only use is for investors and speculators hoping the price will go up. This is fact, not fantasy,

[Anonymous No.25177850]

>>25177466
Did mention that they have some practical use in various industries. However, not enough to justify the price.
And scarcity is not the reason either as in that case Neon would be more expensive than gold.
People know other people value it so they hoard it. Same with fiat currency, same with crypto.
I like some of Schiffs content but keeping all you money in gold is not that much different from keeping it in Coca-Cola stocks.

[Anonymous No.25177879]

>>25177741
TRUE I never considered this, what's their main use? Oh right their main usecase is sitting in a vault and doing nothing but collected dust and waiting for a bubble to form yeah nice try boomer

[Anonymous No.25177896]

>>25177850
>keeping all you money in gold
i don't think Schiff actually recommends that. and no one who is invested in physical gold believes that or does it either
even with a firm belief in PMs, diversification is still a good rule followed by most

[Anonymous No.25177906]

>>25177522
>We dont even back currency using gold anymore,

this is not a result of it somehow being rendered obsolete, which is of course nonsense. the only reason why gold and silver are not used en masse industrially for their phenomenal qualities is simply because they are so scarce. but the fact that they CAN be used is precisely why there is constant demand for them, thus making them a store of value(because you can exchange your goods and services for them with the reasonable expectation that at any time in the future there will be the same demand for them)

bitcoin does nothing better. it isn't even viable as a means of exchange, which even fiat currency is still superior to digitally (far cheaper, easier and less volatile)

bitcoin is vapourware with no utility beyond that of a speculative asset.

gold and silver are commodities with various demand all over the world. silver especially is now seeing more industrial demand than ever.

>>25177646
>Without hoarding bitcoin price would crash with no survivors.

see what i did there? 'hoarding' is non issue regardless of what the means of exchange in question is, there is a very thorough chapter on this on rothbards 'what has the government done to our money'.

[Anonymous No.25177934]

>>25176343
This kek

[Anonymous No.25177964]

>>25177906
>>Without hoarding bitcoin price would crash with no survivors.
Yes, glad we agree. How do you misinterpret a post that badly just because hoarding is a trigger word for you.

[Anonymous No.25177981]

>>25177906
Gold has no utility in the modern age. I didnt read your paragraph because its guaranteed to be some boomer mental gymnastics.

Gold has no utility. Its main purpose is because speculators think its value will go up,

Anything else after this is delusion.

[Anonymous No.25177986]

>>25177795
the use of the word 'moon' indicates to me that your not interested at all in the reality of the situation but rather desperate to find the latest mania asset that will multiply many times in value and thus make you rich. for your sake, i hope it happens. its what we all want after all. unfortunately, i dont think it will be your crypto. the nonsensical gains we saw in the last bull run are unlikely to come back.

Gold is THE means of exchange. its nominal price could raise infinitely theoretically, depending on how much fiat currencies inflate, which their is practically no limit. Will its purchasing power 'moon'? Certainly. we have already seen it. I think gold will even experience a mania itself, and it will briefly become overvalued.

[Anonymous No.25178014]

>>25176285
That describes literally anything, including gold. Make international laws that make holding gold illegal and watch the value drop.

[Anonymous No.25178022]

>>25177981
you can ignore reality, but you cant ignore the consequences of ignoring reality.

https://geology.com/minerals/gold/uses-of-gold.shtml

[Anonymous No.25178049]

>>25177896
Agreed. Don't put all your eggs in the same basket.
But when someone who sells gold and tells me don't buy this new stuff that is pumping, by my gold instead as you will be so much better off there is one thing that pops into my mind. Conflict of interest.....

[Anonymous No.25178056]

>>25178022
Gold’s main use is for speculation. This is reality

>>BUT GUYS WE USED GOLD IN MICROCHIP IN 2004
Christ why are boomers so delusional?

[Anonymous No.25178077]

>>25177981
>Gold has no utility.

Jesus Christ cope like this makes me want to sell my whole crypto stack

[Anonymous No.25178112]

>>25178056
Bro I don't even have grug rocks but gold is used literally everywhere in industry, and if it's not we use silver instead because it's cheaper. Your making us look bad.

[Anonymous No.25178133]

>>25178077
Go ahead. Tell me what ‘utility’ gold has that other minerals cant do much efficiently and cheaper.

I legit work in the cost-analysis department of a mineral exchange company. I can argue all day on whose buying gold and for what purpose lol.

No ones buying gold for its ‘utlity’ lmfao

[Anonymous No.25178159]

>>25178112
Nah its being replaced by better minerals.

[Anonymous No.25178175]

>>25178133
>I legit work in the cost-analysis department of a mineral exchange company. I can argue all day on whose buying gold and for what purpose lol.
kek based

[Anonymous No.25178179]

>>25178056
im afraid its you who is delusional.

bitcoins main use is for speculation. Its ONLY use is for speculation, it doesnt even have the capacity to be used properly as a medium of exchange.

Gold is used widely industrially despite your irrational objections. a simple google search will proove it. the ONLY reason why gold isn't used in literally everywhere is because its so damn scarce, and therefore expensive. they are called precious metals for a reason.

anyway, arguing with crypto ideologues is like torture. good luck with your 'investments'. im sure you'll find a greater fool to pass your bags along to

[Anonymous No.25178196]

>>25176355
>Everything is a bubble, except for what I sell

[Anonymous No.25178224]

>>25178179
But not in "industrial" quantities... For multiple reasons not just price

[Anonymous No.25178231]

>>25178179
Judging by the deranged tone of your posts its definitely a possibility that youre a moron with no actual experience in the Gold industry.
Gold is being replaced by almost everything else for its purpose.

But the price hasnt gone down. Why is this?

Because thats not its main purpose. Speculation is what keeps gold going up. Not the ‘industry’ as you call it

[Anonymous No.25178248]

>>25176285
friendly reminder that P. Schiffy only attracts people who are predestined to lose their wealth.
reviews for his firm:
https://topratedfirms.com/brokers/customer/europacificcapital-review.aspx

[Anonymous No.25178251]

>>25176285
He's right but the same is true for gold
>>25176343
Wrong non-ponzi investments don't need buyers, they generate profits directly

[Anonymous No.25178254]

>>25178196

[Anonymous No.25178263]

>>25176285
You mean like every investment ever. Enjoy your shiny cuff links

[Anonymous No.25178286]

>>25178254
kek he lost his passwords for that

[Anonymous No.25178569]

>>25178248
Those reviews are horrifying

[Anonymous No.25178643]

>>25176285
He hasnt killed himself yet?

[Anonymous No.25178672]

>>25178254
>Pay with Bitcoin Using Cryptos
Tf does that even mean, nigger you pay with bitcoin or other cryptos, you dont pay cryptos in order to use bitcoin. God boomers are awful.

[Anonymous No.25178709]

>>25178049
understood, i take everything with a grain of salt. many well respected people like Buffet, etc, have stood by since the beginning and voiced caution. refrain and mistrust of crypto, probably based on many considerations or logic sets, experience, gut instinct, individual personal belief systems, whatever.
when obviously, recent history has proved they missed the boat on huge monetary gains in crypto markets if they were to have made the right moves. that still doesn't justify this zealous confidence some have in crypto today.

i personally believe the actual value or potential of "crypto" is really in the decentralized distributed block chain technology behind it, for use not only in commerce, finance and banking, but also data communication security and whatever else. that part is never talked about.

the new paradigms to take shape out of all this are not yet established in the majority general population consensus yet. i expect that is 2 or 3 decades away still, and by then, the currency systems and crypto itself will be unrecognizable from what we know today.

look back at the beginnings of when the first desktop PCs , then the first laptops, then the internet started into being. people said crazy things like "no one needs a computer at home"
or "no one will ever be able to use the internet to make money"

this is somewhat analagous to where some of the world is today with crypto, and modern currency system modifications.

long way off before its fully stabilized. legitamized and authenticated by the world institutions of society and a stable value per unit of crypto is set that can be relied upon

is crypto a digital currency?
or is it some digital investment unit for profit speculation?
no sane person wants a currency which is both of those things

[Anonymous No.25178744]

>>25178248
>I am 75 years old and I have to work two Jobs as a Wal-Mart greeter and mow lawns on a riding mower on the weekends. Peter cost me about $400k and yet he lives large in Puerto Rico conning more and more clients.
fugg

[Anonymous No.25178916]

>>25177879
Do you actually think that metals have no use

[Anonymous No.25179102]

>>25178709
Like how you think.

This may be another tulip craze or the next best thing... It is speculation at the end of the day... Nothing more...
My problem is with how many push gold as this "magical thingy" that can only increase in price. It may be at its highest point yet but, so is Bitcoin, or a good chunk of the stocks on NASDAQ. They all had their dips in the past and will certainly have more in the future.

This is from someone with 0 BTC, I went for ETH instead and as of now it was the better decision.

[Anonymous No.25179390]

>>25178248
Holy shit
How will boomer rock tards cope with this?

[Anonymous No.25179751]

Being long gold is being short technology, which is an incredibly dumb bet to make. There's a huge amount of gold out there still to be mined, and our ability to mine it only improves with each passing year.

[Anonymous No.25179832]

Peter Schiff is a disingenuous douche, any investment relies on a greater fool to sell to, even gold has barely any intrinsic value aside from some usage in electronic components, it’s just a pretty looking metal so has held value throughout human history. He’s super butthurt that Bitcoin is threatening his business so he FUDs it hard. He’s emotionally invested in seeing it destroyed.

[Anonymous No.25180078]

>>25176343
you are wrong - most practical investments that are profitable pay dividends. but you are correct in that most people investing do not think this way, making most of the stock market a ponzi scheme.

[Anonymous No.25180432]

>>25180078
Dividends are fucking gay unless you have millions that you are just trying to preserve and generate some cashflow from
Otherwise enjoy your 5% annual ROI chief

[Anonymous No.25180520]

>>25178916
of course they do, but you know what other metals are used? Aluminum, Copper, Iron, Tungsten and a bunch of other cheap stuff.

[Anonymous No.25180541]

>>25176354
you can make teeth out of gold

[Anonymous No.25180629]

>>25180432
i really just meant to point out that most people are speculators, not investors

[Anonymous No.25180657]

>>25178916
The only real use case for gold is in electronics and as catalysts. It is literally useless for anything else and is only valuable because of scarcity. There's more scarce and more expensive metals but you rarely see anybody talk or trade them because niggers can't wear them in their rap videos.

[Anonymous No.25180670]

>>25180629
Bitcoin isn't speculative anymore though

[Anonymous No.25180699]

>>25180541
You can make worldwide payments without a third party's consent. faggot.

[Anonymous No.25180709]

>>25180657
> gold is useless except for its uses

[Anonymous No.25180865]

>>25180657
It's used in medical devices too.

[Anonymous No.25180902]

>>25176285
That's a shoop a rather poor one

[Anonymous No.25180915]

>>25180865
>electronics
>medical devices
>ELECTRONICS
>MEDICAL DEVICES HURRRRRR DUUUDUUUUDUURRRRRRR

[Anonymous No.25181052]

>>25180915
no retard, they are used for springs and marker bands for catheters. I work in that field and you are a dumb nigger

[Anonymous No.25181160]

>>25180670
im glad you are winning son

[Anonymous No.25181407]

so how exactly is he wrong. He's absolutely correct and the only thing that matters about BTC is its USD valuation

[Anonymous No.25181438]

>>25176285
>1 post by this id
>73 replies
10/10

[Anonymous No.25182278]

>>25178248
you are fucking retarded if you believe those reviews weren't written by bitcoin bulls that don't know anything about his firm

[Anonymous No.25182790]

>>25180432
Yeah, dividends plus stock price increase... That nets you somewhere between 5-10% yearly, more or less depending on your portfolio.
How is it worse than having it all in a savings account, under the mattress or buying Orgi.Finance?

[Anonymous No.25182875]

>>25176285
god imagine if the binance kyc leaks
the retard I look like in this

[Anonymous No.25182926]

>>25182790
Cliché, but diversification. I like to hold a couple of dividend stocks that I can then use those payouts to buy into growth stocks or crypto. So I can use most of my waggie money to pay for living expenses.

[Anonymous No.25183141]

Things are 'backed' by gold

NOthing is backed by BTC
:-(

[Anonymous No.25183312]

>>25178077
Please sir don't. You buying and hodling crypto is the only thing giving it value.

[Anonymous No.25183358]

>>25180902