>one of the very few mainstream austrians left>constantly mocked by everyone in finance since 1990>call the dotcom bubble but everyone calls you crazy>call the housing bubble but everyone calls you crazy>call the "recovery" from 2008 a sham but everyone calls you crazy (until 2018)>everyone ignores your thesis on debt, fiat, and unsustainable economics>after years of suffering, finally people start to realize you've been right all along>people begin to wake up to the fed and accept your view on the fundamentals>they call you a stupid boomer and say bitcoin is the future and gold is just a shiny rockHe's a bit too stingy and milks his followers too much, but I do feel bad for the guy sometimes.
He’s right about everything except Bitcoin.
He’s right about everything apart from Bitcoin and desu I think the only reason he dislikes Bitcoin is cause he’s a boomer and he refuses to understand it.
lmao they still are tring to shill this shit on /biz/ fys and remove your 4chan acc so stupid to check how you try to scam people I’m not a retard who believes in this shit, I use Bot Ocean for profitable trading with unique strategies
>>28942778>everything he pointed out is reaching new athhow is he right about anything>
literally sounds like a shill, stupid pajeet scam> do u think we are real faggots here? >I bought bot ocean coins and wait for full platform for dex trading launch smart boy knows what tools to use for top trading
>>28942710he shouldnt care about being taken seriously.just shut up, invest and make money
>>28942778He's right about bitcoin too though. maxi cucks are delusional. just look at eth. eventually someone will fucking just come and rip it and make it better and people will switch like is happening with the chink binance chain.
>>28942710Apart from crypto there will be lots of regrets to not listen some of stuff he says.
>>28942778>>28942799He might be right. You can only have a single backing for currency, whether it's Bitcoin or gold remains to be seen. I think it's still a toss-up.>>28942845>>28942878The pajeet bots are breaking.>>28942965>who gives a fuck about fundamentals just get rich lmaoenjoy the bear market
>>28942778>>28942799agreed. i watched some joe rogan podcasts with him and it seems like his main argument on BTC is that it “isn’t tangible”.
>>28942710The fun part is, the guy only pretends to hate bitcoinHe's loaded on bitcoins, he's playing both sides and you faggots are falling for it hook line and sinker
He is not completely wrong about bitcoin. Those shitcoins investments are crazy just like the .com bubble. But bitcoin is not shit. Its like Amazon in 1999. There were a lot of shit .com stocks, mas Amazon was not. Its survived and rocket.
>>28942868You really want to start paying attention. The world’s economy was about to crash before COVID conveniently arrived.Fiat currencies have been destroyed.All assets are hyper inflated.There is too much debt.There is no growth.All the things he has warned about.
>>28943061no, his argument for bitcoin is that it's a fucking computer program and can be copied in a split second infinitely whereas the only way you're forging gold and silver is if you are a dying star.
>>28942799>he dislikes Bitcoin is cause he’s a boomer and he refuses to understand it.Why are boomers like that?? Why do the always refuse to understand new tech or new things?? Will we also be like that once we are old and something new comes up in the future?
>>28942710>missed out on the two biggest bull markets in history ( stock market recovery after 2008 and Bitcoin) and promoted shiny rocks insteadDumbest retard in existence
>>28943199Not could, he is loaded. We know it.Hell the dude even accepts BTC payments on his siteRemember what Musk was saying about BTC in december ? That it was useless and would never go anywhere ? Oh wait, turns out he had 1,5bil of it.FUDDers are ALWAYS holders.
I've listened to him for years and can predict what he's going to say next but his advice has financially crippled me. I was ready to buy bitcoin at 3000 but he convinced me that it could easily drop to 2013 levels
>>28942799no he's just salty that he lost access to his wallet because he's retarded.
His problem is that he seems to think that Bitcoin is meant to be a replacement for the FIAT currency. In truth, Bitcoin is meant to be a replacement for the entire system underlying FIAT currencies.
>>28942778How? It's 2021 and there is STILL no scalability solution. There's still not even a centralised "solution". The only thing close to it is "sending" btc from your Coinbase account to someone elses Coinbase account. I don't even care if the scalability solution means centralisation since at least the "new" finance system will be using Bitcoin instead of fiat. But here we are with maxis hitting peak delusions with absolutely 0 solutions. Where is lightning? Fucking ridiculous. The only value in blockchain currently is Ethereum and Chainlink and maybe some DeFi apps although the tokens they use are mostly for governance. The whole reason to buy Bitcoin is to sell higher.
Schiff is based, official mascot of /biz/
Well you gotta be wrong once. He was wrong once and it happened to be the worst wrong in historyWelcome to the new paradigm
>>28943343ln is already built into electrum
>>28942799A Boomer literally made Bitcoin
>>28943284That's not actually what he thinks, it's the opposite. his contention is that it's a speculative asset like any other speculative asset and there is nothing else to it. There is no functionality therefore it's just as bad as fiat, only at the moment it's trending upwards.
>>28943343Bitcoin is a store of value. The devs fucked up and it can never be a cash or payment system now.So long as the world’s top companies keep buying BTC for their treasury and fiat currencies continue to be printed, Bitcoin will remain the number one digital store of value.It’s just the way things are, whatever your opinion on the technical merits of Bitcoin or any other crypto.
>>28942710He is right about Bitcoin>Pro tip; what a man thinks and says aren't always the same thing>He recognises that money printing is the only thing keeping the debt bubble inflated>obsessed with BTC, tweets about it all the time>Has a sock puppet twitter, his "son" who popped up early 2018 and only ever tweets about finance and Bitcoin too, except this account is strongly pro BTCGuaranteed he's stacking sats like the OG he is
>>28943572Peter literally said in a recent podcast that Elon bought btc purely as either a hedge against the dollar or to distract from his own waning shares which are in an obvious bubble
>>28942710>>call the dotcom bubble Dotcom was before its time and the prices just cooled off, currently most top stocks are all tech plays.>>call the housing bubble Again a small correction, housing are all ATH>>call the "recovery" from 2008 a shamEVERY SINGLE MARKET is at an all time high.
>>28943572>So long as the world’s top companies keep buying BTC for their treasury and fiat currencies continue to be printed, Bitcoin will remain the number one digital store of value.It’s just the way things are, whatever your opinion on the technical merits of Bitcoin or any other crypto.Woah Nelly every time I come to /biz/ I get extremely bearish.>so long as people keep buying the price will keep going up>so long as the price keeps going up, it's a store of valueYou're like a Schiff strawman. Are Tesla shares good stores of value, anon? What about Bitconnect pre 2018? Enron stock in 2000? Tulips? Come on now.
Everything Peter says about bitcoin is exactly what hodlers believe, the only difference is that Peter thinks it's bad and hodlers think it's good
>>28943040Right, Bitcoin is too slow and will die after it is all mined.
>>28943160I think the technology jump from people born pre 80s/90s to people born during or after is the biggest in history. I don't think we will see such a tech jump when we are 50+.We had proper games consoles, internet for all, smart phones all invented and mass produced within like a 20 year period.
>>28943752Kek, you’re the straw man, retard.I said ‘world’s top companies’ not ‘people’.Now go back to weddit.
>>28942778He's right about everything including bitcoin. The real problem there is the old "market can stay retarded longer than you can stay solvent" bit. By all accounts Bitcoin should be dying from nearly any perspective you take on it, especially if you wholeheartedly believe in a future of crypto and decentralized finance. It's the boomer's zoomer and the zoomer's boomer.
>>28943745>prices just cooled off in 2001all markets corrected 80%, the nasdaq dumped 90%. Is this your idea of cooling off?>Again a small correction, housing are all ATHa function of interest rates, not the fair price of a house. Put rates back to 2005 levels (5%) and tell me how much you can sell your house for.>EVERY SINGLE MARKET is at an all time high.again, rates being low because the Fed is printing money to buy bonds and lower yields (aka interest rates). Raise rates back to even 1% and the market will go straight back down to March levels.>>28943916>company dollars are different to people dollarsjesus christ /biz/ has been flooded with newfags or drooling idiots since March.. What happens to BTC when all the companies that want to buy stop BTC stop buying?
>>28943886Yeah, invented by fucking boomers and pre-boomers.Age has nothing to do with Schiff’s take on Bitcoin. He built his company and reputation on gold, for the most part, that’s why he has to talk it down.
he owns a ton of btc, mark my words
>>28944028I don’t know if you’re being intentionally obtuse, but when the entirety of the world’s elite companies have bought a few million USD of Bitcoin for their treasuries, BTC will be priced around a million dollars.And you think it will then crash because, whatever.
>>28943572Store of value needs some actual use. For example if there was even a centralised layer/service where you could near instantly send Bitcoin for almost no fees(you can also use the main chain and pay the big fees plus wait time), then that would give some legitimacy to the store of value argument. However almost nobody that buys BTC uses it. You can't logically argue that something is a store of value because it has gone up for 12 years and a lot of people and companies keep buying it. Madoffs fund went up for almost 20years or something before it collapsed. 12 years is fuck all. Ethereum once moved to the proof of stake model with supply cap would be a lot better store of value since you NEED ETH to be able to create smartcontracts or send tokens. Same way you NEED LINK to get data from Chainlink's Oracle Network. Same way you NEED $ to pay for Oil otherwise you'll be expecting a lot freedom soon.
There's no use case for BTC, he's absolutely right.BTC is simply a speculative asset with no inherent value other than being the first crypto.
>>28944338>when the entirety of the world’s elite companies have bought a few million USD of Bitcoin for their treasuries, BTC will be priced around a million dollars. And you think it will then crash because, whatever.Stop. Think about what you're saying. Let's assume this happens and every company holds BTC and it's $1m. What happens when those companies need to cash out some of their balance sheet of BTC to buy materials to make their products with, or pay wages, or buy/lease land for their business? They have to SELL. And then when they sell, the value of every other company's asset sheet goes DOWN. So the first company to sell gets a million dollars per BTC, but the thousands only gets 300k per BTC and have lost 4-5 years of operating costs and have to shut down.>b-but they won't sell they'll just trade BTC for their business inputswhich means less goods overall to purchase, driving the price up, and BTC becomes less valuable. It's the exact same scenario. The gold standard had the same phenomenon.>And you think it will then crash because, whatever.Reddit and crypto twitter are perhaps more your thing, friend. If you don't understand why assets prices fluctuate you're probably 16 and have little understanding of businesses, money, or economics.
>>28944339Bitcoin’s primary use in the future will be to act as digital bearer bonds between companies. They will swap BTC much like they swap IP.If I want to sink my life savings into such a system, I’ll probably do ok in the end.Desu, what really surprises me is Schiff doesn’t harp on about how ungreen Bitcoin is. That’s its real Achilles heel.
Peter Schiff is a broken clock.You might not like the mechanisms behind it, but the fact is as an investor he is absolutely awful. If you invested with him, you missed out on the biggest stock market bull run ever because he believes its a sham. All he can do is shill precious metals which are suppressed and perform terribly in modern markets, and it loses his clients money.
>>28944659Check out this advert for Dunning-Kruger.
>>28944119He admitted that his son bought heaps at 12K
>>28942710>jewNothing else matters.
His son Spencer is some kind of genius. Has all the knowledge of his dad but somehow knew exactly when bitcoin would start to moon
>>28944659So what’s the solution then?Oh wait, your lazy ass doesn’t have oneBitcoin is the fastest horse in the race, so it’s going to continue to be adopted, whether you like it or not
>>28943137>You really want to start paying attention. The world’s economy was about to crash before COVID conveniently arrived.there's literally an article by Ray Dalio from like october 2019 where he predicts the market crash in march. That's before covid was a thing. Conveniently the market crashed in march 2020 due to covid. It's all theater for the masses.
>>28943916you ignored everything he said and it shows how low iq you are.
>>28942710Is he the boboposter that always post "-insert BTC milestone here- rejected"?
>>28944028Peter is smart about economic theory but he is absolutely blue-pilled. What Peter doesn't understand is that TPTB are 100% committed to riding this failed monetary policy experiment to its bitter, inevitable conclusion wherein the wheels fall off and everything goes up in flames. At no point will they recognize the error of their ways and advocate for a system of sound money. Rates CAN'T go back up because that would spell the end of GloboHomo™ and thus the end of their power. They'd rather have half the entire world destitute and starving under a system of infinitely-printed Tanzanian funny money than have sound monetary policy. So as long as we live in clownworld, BTC will remain a good hedge and store of value because there will never again be a time wherein gold, stocks, real estate, (read:everything) aren't manipulated or massively inflated. Peter's going to have to wait for the whole system to blow up and when that does happen, he'll wish he had invested more in his physical fitness, ammunition, food, and shelter.
>>28945656Kek, that’s funny.
>>28944629It's the reserve asset used in the entire blockchain ecosystem. If bitcoin falls, all crypto falls, so everyone in crypto has a vested interest in making bitcoin go higher.
>>28945741This anon gets it.
>>28942799There's nothing to understand you stupid fuck. It's purely speculation
>>28943458Lmao kys. Gen X did. Sirgay
>>28942710He didn't call the do com bubble. Also the guy has been calling everything a bubble every year since 2006.
>>28945741Literally everything you just said up to endorsing bitcoin is exactly what Peter says all the time
>>28945741I just got a hard on
>>28946318I don’t think Schiff is red-pilled, though. He sees the giant con trick but I don’t think he believes the entire power structure is actually evil, which desu, much of it is.
>>28945741>and store of value because there will never again be a time wherein gold, stocks, real estate, (read:everything) aren't manipulated or massively inflatednot only do you have no idea what you're talking about but you naively think bitcoin isn't manipulated and massively over inflated based on nothing.
>>28946475The fact that you think bitcoin is some kind of rebellion against tptb when they're all buying it is funny
>>28943930>"market can stay retarded longer than you can stay solvent"Too high IQ for the retards in this thread.
>>28946591I don’t believe anything of the sort.
>>28946183>everything a bubble every year since 2006.it's almost as if thats when the fed started printing unfathomable amounts of money to inflate the entire world into a bubble
>>28946183We're in the everything bubble right now . Everyone in this thread from both sides of the argument are all saying the exact same things it's just that coinholders think we're so far detached from reality that it does matter. They're right but at some point the world will suddenly and violently snap back to reality. Who knows how much longer clown world can persist. On a long enough scale Schiff is right.
The problem with Schiff is that if you're already rich, you can just do what he says and you sustain your wealth.For a person with no net worth trying to "make it" his advice is not only useless, but even harmful. You could be a billionaire if you did exact opposite of what he said for the last 10 years.
>>28945741>So as long as we live in clownworld, BTC will remain a good hedge and store of value because there will never again be a time wherein gold, stocks, real estate, (read:everything) aren't manipulated or massively inflated.But isn't that the case with Bitcoin as well? I know the Chinese essentially control the mining of the coin and now with big banks buying it I cannot see how it won't be manipulated as well.
>>28942710He's a top 1% Jew. Don't feel too bad. He certainly doesn't.
>>28942710He's never been right about anything. Ever. Nothing wrong with gold but he's just a silver/gold coin salesman scrabbling for people to coin. Like harry 'bullshit' dent, gerald 'fullofshit' celente' and all the others in the big smelly circle of doomer jerkers. His business model is stupid tards like OP
>>28946318Wrong. Peter believes in some sort of gay, make-believe soft transition wherein we'll suffer some 2008'esque crash except no banks get bailed out and politicos magically recognize the errors of their ways. It's a fucking fairy tale in which his beloved gold plays a key role. Remember: (((they))) will continue to double-down until the entire western world is destroyed. Fuck a trillion dollar stimulus, why not a QUADRILLION? There will NEVER again be a western society with sound monetary policies. There is only clownworld and the fiery hellscape that succeeds it wherein Peter's daughter's are pimped by warlords in abandoned cities in exchange for weapons and drugs.
>>28947051gold backed currency was not 'sound' economics either shit brain, see the 1920s. You're a tard
>>28942710bubble ideology gives kikes a pass to crash the economy to accumulate more of our wealth.the economy is a golem they've animated with our taxes
>>28946902Yes, and your goal is to get as rich as possible, as quickly as possible. Everybody lives in clown world now. How do people still not get this?
>>28947189Muh 'clown world' the world has always been full of tards and it was when currency was gold backed
>>28947116>RO0Mtemp IQ ID
>>28947189>yes it’s already over inflated so buy it so millions of normies can dump on you
>>28947051He continually says the fed can't and won't ever raise rates and his argument is that the fed will eventually lose control over the economy completely and everyone will flee the USD because it's trash. He just doesn't think people will flee to bitcoin, they'll flee to gold and silver. Nothing to do with fed policy, people will do it because the dollar is fucked. Coiners have the exact same argument. I've listened to this guy for years
>>28944629>inherent valuehow to spot a midwit
>>28943115Great analogy. I’m old enough to remember when Amazon was a place poor college kids got their books Amd that was it. It was not the behemoth it is now hard as it is to imagine. Bitcoin showed up similarly and it’s real world application was buying CP, drugs and guns on Silk Road. Whether or not Bitcoin has much of a future I can’t say, but I wouldn’t be surprised if it disappeared as quickly as it showed up. If it does have a future it will be like Amazon and in a way that most people can’t imagine
>>28947684Apples and oranges
>>28943572"stores of value" don't drop fifty percent in one day. "stores of value" also have people preferring to hold this asset over anything else. The only reason people invest in crypto is to increase their fiat holdings. Not a store of value. A ridiculous statement.
Whatever your opinion of Schiff, I’d recommend his Podcast. It’s entertaining that any one person can be so belligerent, irrespective of whether they are right or wrong.
>>28947975To be perfectly fair peter's contention that gold is a store of value is flimsy and is only predicated on the belief that people believe it's a store of value. It is a better case than bitcoin but it is not as strong as he makes it out to be
>>28947975You obviously haven’t met many people who don’t hold fiat. It’s surprising common, desu.
>>28948095He is rude and demeaning to those he debates.
>>28943572What is its “value” and where is it stored?
>>28948235Gold is a store a value.> only predicated on the belief that people believe it's a store of valueLike bitcoin and fiat money.
>>28948276It’s funny, innit.
there's a level of cognitive dissonance required to be fully clued in on the entire monetary and financial system being a sham and ignoring the modern replacement for it that is already supplanting it.I listened to this boomer and bout $50k of physical gold and silver in 2015.you know how fucking rich I'd be if I put 10% of that into bitcoin?(but I was still scared because of mt.gox and other very real political factors that still loom large)
>>28948274"holding crypto" is holding fiat money, because you check the value every single day and make posts whenever it goes up and whenever it crashes. If it was truly a "store of value" you wouldn't give a shit what the exchange rate was into dollars because you wouldn't care. You primary focus would be to acquire more of whatever this "store of value" asset was.
>>28943930>The boomer's zoomer and the zoomer's boomerLove this wording. Good perspective anon
>>28942710>after years of suffering, finally people start to realize you've been right all alongYeah I'm sure people are now very upset about not following his advice and buying gold a decade ago. They could've had the exact same amount of money today, just think of that
>>28948315>gold>valueHow valuable will it be when we are a multi planetary species mining asteroids for gold? Bitcoin is a hedge against the future of humanity. I understood this when I heard of this project at the beginning.
>>28945741>thinks that Bitcoin isn't manipulatedChina can take a big fat dump on the market at any second now. the house of cards will collapse
>>28948315I can’t believe there are so many economically illiterate people on this board. Seems the OG anarcho capitalists and crypto fags have moved on to brighter shores (possibly cashing out and retiring to Dubai).- Gold has thousands of years of human history to back up the belief it is a store of value- Bitcoin is pretty much the best store of value in the world today- Modern fiat money isn’t a store of value, you don’t notice it being devalued in real-time because the game is so well played
>>28948382If you'd have bought gold in 2015, you would now have 78,000. A fifty percent return in five years. In any world that is a great return on investment and in fact it would be considered stellar. Maybe the problem is people expectations and the fact that our market is clown world.
>>28942868He never said the price of these other things can't go up. In fact, he predicted the money printing would prop up the prices until the bubble pops and everything crashes.
>>28948315My testicles are a store of value that doesn't mean anyone's willing to barter for what's inside
>>28948382a gamble that will go to zero is stilla gamble that will go to zero even if it hits 50k first nigger. you are only proving the point that gold is a store of wealth while bitcoin is a complete gamble, not digital gold.
>>28948555Not going to happen for three hundred years and you are a cuck for thinking that it will happen any time soon.
>>28947373the same shit the same tardonomics from da pundits and coin sellers every cycle. You're a egotistic brainlet who sips stale shit your insight into economics is from bullshitters and youtube. You are the tard phrases like 'neoliberalism' and 'late stage capitalism' drip from you along with shit from zero hedge. You're the fucking victim and you deserve it
>>28942710He's been right on everything if you shine certain lights on the context. but being right doesn't always make money
>>28948555>muh space mining!! I FUCKING LOVE SCIENCEwe got a muskcuck r*dditor here lads
>>28946591what is "tptb"? I keep seeing that
>>28948411You obviously haven’t met many people whose only financial objective is to accumulate more crypto
>>28948722>muskcuck r*dditor>>28948676>phrases like 'neoliberalism' and 'late stage capitalism' drip from you along with shit from zero hedge>>28948722>r*dditor
>>28948571"why is bitcoin a store of value?"Because people believe in it!! 1!"oh well a lot more people believe in gold and have believed in it for all of human history, is it a store of value then too?" NO UR ECONOMICALLY ILLITERATE
>>28948742what does it stand for?
>>28944698Ungreen? As in, not green/new? If that's what you mean I disagree. Yes tech evolves and followers chase efficiency but only to the extent they have trust in a trustless system. Trust == tradition == btc. First mover advantage doesn't begin to describe what btc has going for it.
>>28948680Peter would like you to buy his pen just like mike maloney, gerald celente, harry dent and all the other tard milkers
>>28948644That fifty k in gold would be worth 78k now. By all measures a great investment.
>>28942710I like peterhe's just a gigantic retard when it comes to bitcoin
>>28948826Massive waste of electricity to mine.
>>28948826>green/new>>28948676>tard phrases like 'neoliberalism' and 'late stage capitalism' green/new drip from you
>>28948750Desperation to make fiat money doesn't mean "trying to aquire more crypto". The only people who "believe" in crypto all bought in early, or they only make up less than ten percent of the crypto worldm every one else is speculating, desperate to turn it into more fiat.
>>28948887He just sees a big chunk of his potential customers barking up a different tree. He lost control of the narrative
>>28948799>posts a conversation with a strawmanHow do you not cringe doing this shit
>>28948819The Jews That Be
>>28948819The pedos that be
>>28948382If you had biught 50k worth of silver it would be worth $86000 today, in five years. Again, by all means and measures, that is a great investment.
>>28949031Gold is highly portable, verifiable and divisible.I'd rather have gold than bitcoin.
>>28949031Also what even is "censorship resistant"? What a complete joke. You can't censor gold. You can censor bitcoin so easily.
>>28942799If you're buying Bitcoin instead of silver right now, you're the boomer
>>28948961Who the fuck is trying to acquire more fiat? All they want to do is get rid of it.
>>28949438this guy fucking gets it. anyone holding a good amount of silver will be the new kings over the next 10 years
>>28949438I'll buy when it's back down at $12. Hell make it 15
>>28949233>>28949338Gold is not portable at all at large scale. You needs trucks to move that shit and you need a lot of security on those trucks>>28949304Gold can and has been seized by the government. Crypto can't, they can print a legal document saying they own your btc but they can't actually take it from you.
>>28948592>>28948644>>28949113when you consider what stonks were making and the amount of dollars printed during that time, the price of gold/silver has barely moved.But I fully expected a 2nd economic crash. I didn't expect a melt-up.
>>28949233>highly portableYou're literally retarded and your gold will be stolen from you.
>>28949304>You can't censor goldYou're literally retarded and your gold will be stolen from you.>>28949304>You can censor bitcoin so easily.You're literally retarded and your gold will be stolen from you.
>>28949668A 24k ring on each finger is about $10k worth. Add a chain, belt, monicle... you're balling
In a recent podcast he exclaimed ‘it’s going to be more expensive to eat!’How can you not admire this man?!
>>28942710>call literally everything other than your boomer rocks "a bubble" 24/7/365 x20 years>get "proven right" the once every decade+ on each of your "predictions">literally gains goblin every even slightly paranoid boomer in the process and get rich off of moneychangingpeak boomer e-celeb performance ngl
>>28949668What if they take me to mkultra torture chambers?
>>28942710You forgot he's a kike.
Is this this the new /pmg/ format?
>>28949668wealth is supposed to be slow moving. the velocity of the medium of wealth is important. look at bitcoins velocity and how fast it pumps and dumps. slow transfer = stability
Hes the only guy not to make money on post recovery bull market
>>28942778fpbp but he's right about bitcoin too
>>28942778>>28942799he is 100% right about bitcoin and every oldfag here knows it. THE ONLY REASON ANY OF US ARE IN CRYPTO IS TO SELL OUR STACKS AND ENOURMOUS MULTIPLES TO WHATEVER RETARD IS WILLING TO BUY THEM.
>Austrian economicsChucked and fucked right there desu. Literally a meme school of thought
>>28952261Keynesian spotted. Tired of digging pointless holes yet?
>>28949521Yeah right, keep believing the dollar will die and will be replaced by your internet coin. Retard
>>28942710Peter Schiff is absolutely a based jew. He is right about much of what he speaks on, except for bitcoin. He shits on bitcoin publicly but he owns bitcoin privately. Yup, I am thinking also based. He lives in Puerto Rico and doesn't afraid of anyone.
>>28947684Bitcoin will never go away because I will still be here to buy it from others. And I know lots of people that will also still buy it. That is what gets me when people say it will go to zero. How could it possibly go to zero when I will still pay money for it? It might only be new Klaus great reset pennies but I will still buy it.
>>28942778>>28942799This. And I think deep down he knows it's true too. Yesterday he admitted that Bitcoin going to 100k is not unrealistic. He just can't be objective because he's a Gold Seller. If it turns out Gold is actually the ultimate store of value Bitcoiners would have the same trouble admitting it.
>>28945741>So as long as we live in clownworld, BTC will remain a good hedge and store of value because there will never again be a time wherein gold, stocks, real estate, (read:everything) aren't manipulated or massively inflatedYah and how do you cash out when clown world ends? No one will give a shot about hitching when times get rough, ill always have my gold. Even if I never get to enjoy the true value of my metals the real wealth will be passed to my progeny.
>>28948315>>28948292Gold is a store of value. The value is in its attributes and its acceptance by others. Everything is based on energy. The time, capital, and energy spent to mine either is what then imparts value into the rock or the bitcoin. It really is an odd thing to think that we accept that value is energy somehow transported into something else. I am not trying to get too autistic, just trying to flesh out why gold and bitcoin are valuable. I have had people ask about it before. They ask why bitcoin has any value. It is hard to get them to understand that it is similar to gold in many ways, yet it digital. Anyways if anybody wants to help clean up my understanding that is cool. No bully though.
>>28952261The austrian economists are usually the most correct. The chicago school is shit. The keynesians are really shit. Von Mises was a god amongst men and he gave us Human Action. What did you give us? More pics of naked anime trannies?
The amount of cope in this thread is unreal. Don't worry, he got me too, I could have retired i had bought btc instead of worthless shiny rocks that i eventually sold for a 3% gain. I deserve it for listening to a boomer.
>>28954017Everywhere times have gotten truly rough in the past 5 years bitcoin is passes the test. In Venezuela if you have btc you survive if you don't you die or sell your daughter on the street
>>28948819The Pickles that Be
>>28954066>The value is in its attributes and its acceptance by others.Gold has attributes real world uses. Electronics comes first to mind. Sorry I know gold is just a “shiny rock” but for literally millenia people have traded gold. Countless souls have died in dark holes in the ground so we can have this shiny rock. If you think a decade of nerds and chunks mining shit can compare is testament to how out of touch with the real world you zoomers are
Noooo muh precious internet currency. https://youtu.be/fFuT-MEMu94
>>28955504holy shit the seething manchild is the epitome of bitcoin
>>28955114I am not a zoomer and I am in both precious metals and in crypto. Also I have a farm and lots of heirloom seeds and chickens. I try to hedge my bets. But you do miss one key point. As far as its trading life, bitcoin is over 60 years old already. So it is not a decade of chunks mining shit. It is already a senior citizen, and is not going anywhere. Also, it is odd to say that electronics come first to mind. But then you mention how it is money for literally millenia. I think you are very much out of touch, boomer. You jump from pre industrial to post, and then back again. Electricity might control your world, but it is not going to stick around.
>>28949031I'm still a bitcoin maxi but got a 10% in XMR as a privacy hedge.
>>28942710>calls bubble every day of every year>I WAS RIGHT TWICE 1!!1Also, his calls are infamously bad, his fund is dogshit and he sells himself like he is his own 2nd hand car.
He's right about everything. Wait until the chinks rugpull bitcoin. They have managed to infiltrate many large corporations with it now.
>>28942710I'm pretty sure, that in 1903, there was someone saying "these flying machines are never going to ammount to anything, it's not like they'll ever get to the Moon , it's just a passing fab, horse carriages have been around for thousands of years, they're here forever , you should buy horses ". There will always be folks that scent the future, and people who lag behind. Besides, Precious Metals is the poster child for rigged markets . At one point, JPM sold more Silver than it exists in the fucking planet. Then Max Keiser tried to meme a short squeeze, in 2009, didn't work, but forced JPM to become the largest bagholder of physical silver, way back in 2009.
>>28943272>back in my day we had to memorize those passwords!>forgets password
>>28956388remember when bitcoin was billed as anonymous private currency lmfao, then they had to say its digital gold when people figured out it is the police states wet dream.
>>28947470then the government will just take everyone's gold, as they did before
>>28954165Yea and its better than Austrian shit lmao. Its so fucking antiquated and gay. Correct for the 1800s maybe
>>28942710>doesn't understand basic austrian econ 101 stuff like SUBJECTIVE VALUE THEORY>austrianNo he's just a kike shill and Sam Hyde gives better investment advice than him.
>>28942778Literally this.What a shame.
>>28942868The federal reserve, housing crisis etc
>>28959096>antiquatedSo what? It doesn't mean it's wrong.Austrian economics literally can not be disproven and people have tried to disprove it for a very long time.Austrian economics IS economics.
>>28952261Why can literally nobody disprove austrian economics? lol
>>28942710>>28942778always>correct in theory>completely off in outcomeor in real world terms>constantly wrong
>>28943886>We had proper games consoles, internet for all, smart phonesYou had. Now the chinese have it.
>>28959505Yea except its only perpetuated by libertarians and it fails to adequately provide a role for the State within the market. It's ok, but you should wake up and realize the State has a huge role it can play effectively and it should seek to maximize its effectiveness. Also just LOL nigga u wont be able to effectively deal with market failure.
>>28960190>market failure.Literally created by government/central banks.If you had actually read austrian economics and history, you would understand this.
>>28959586You can kek. Just look at how they wanted to sit on their ass during the Great Depression, or how China is kicking ass rn and effectively using its power as a state within its economy. Austrian economics is mostly correct, but it neglects to properly address the role States have and should have. Also don't they view a states spending similarly to a households and think high GDP/Debt ratio = bad? Fuckin hilarious
>>28960383Market failures literally always happen in a free market. This is pure cope, not to mention consolidation of capital will always lead to monopolies even in ur AnCapistan. Literally all Austrians just want to squirt their libertarian ideology into things. Please come back and work within reality, and not some dream world. Your family misses u bro
>>28942799He's wrong when he says the price will be zero (soon). Bitcoin isn't strong enough for mass adoption. If China or somebody wants to 51% the blockchain and destroy countries that adopt it, they easily could invest trillions to do it and it would be worth it.BTC will never be "the standard" or held in reserves more than 1% by governments.
>>28960387>Just look at how they wanted to sit on their ass during the Great Depression,YES LMAOand they were proven correct by this.The interventionist policies you support CAUSED and EXTENDED the great depression. It's like you think recessions are somehow natural. It's like you ignore recession of 1920.That's why Rothbard wrote the most detailed historical economic book on the depression ever.https://www.amazon.com/Americas-Great-Depression-Murray-Rothbard/dp/1607960656>or how China is kicking ass rnBy exploiting America's status as reserve currency? Austrians predicted this.>Also don't they view a states spending similarly to a households You don't? You think states are magic or something? LMAO>>28960612>Market failures literally always happen in a free market.Why do they never happen in historical free banking systems?Why was every panic historically the result of government intervention.https://wiki.mises.org/wiki/PanicsPlease read a fucking book.>Please come back and work within realityYou people literally believe in magic lmao
>>28960612>consolidation of capital will always lead to monopoliesCool fairy tales bro.Keep ignoring the fact this literally never happened in historic free markets.I bet you think standard oil was a monopoly lmao
>>28955114for most of human history gold was not used for electronics but was still being used as s "store of value". Jewelry is kind of an exception, because gold is used in jewelry to show off wealth, not because gold is that beautiful (well maybe it is shinier than other materials)
>>28956144what do you mean by 60 yo trading life?
>>28960813States literally don't. They MAKE the money
>>28960813>By exploiting America's status as reserve currency? Austrians predicted thisNo by effectively using its government within its economy and not caring about "muh free market". Fastest GDP growth in human history. Not to mention recessions are natural. Do you only read Austrian propaganda? Go to your local university and just take intro to micro and intro macro lmao. Chucked and fucked your school lost. Keynes and MMT have won
>>28961833>They MAKE the moneyWhich gets devalued and causes malinvestment.>>28962097>No by effectively using its government within its economy and not caring about "muh free market".This made their economy stagnate compared to their neighbours. Look at how much Taiwan has grown compared to China.If China was a free market, they would be much more productive than they are right now.>Fastest GDP growth in human history.lmao GDP is a meme.Why do countries with the freest markets industrialize the fastest?Why did USA industrialize extremely quickly during it's free banking era?>Not to mention recessions are natural. No they aren't. Imagine believing this propaganda.> micro and intro macro lmaoHAHAHAHAHAHA What a fucking tool.
>>28962097>Keynes and MMT have wonHAHAHAHAHAHAHAHAHAHAHAHAImagine being retarded enough to be a Keynesian OR MMTerWhy do MMTers always get destroyed in debates. You people LITERALLY believe in magic.https://www.youtube.com/watch?v=cUTLCDBONokFlat fucking earth tier.
>>28942710However, while listening to Schiffys podcast it slips through from time to time that he absolutely hates black people and niggers.
>>28962659>let’s borrow from Peter to pay Paul!Surely this will not end poorly. God I fucking hate these people so much.
>>28962562>If China was a free market, they would be much more productive than they are right nowI mean it is, also theyre much better off as a country, and their GDP per capita will soon eclipse Taiwan. This is crazy Anti-China cope
>>28963038He opposes civil rights laws because they have the opposite of their intended effects and hurt the minorities.
>>28962659Japan has a GDP/Debt ratio of over 200% and their economy is great? Hmm it's almost like debt isnt the issue
>>28942710Schiff is a troll most of the time (see: tweets), but yes his views on monetary policy and economics are grounded in reality and based. I agree with most of it.
>>28963038No he doesn't. Quit projecting your views on others.
>>28964301>also theyre much better off as a countrythan their socialist days of course, but they could be much better if they were a free market>and their GDP per capita will soon eclipse TaiwanLMAO HAHAHAHAHAHA See:>>28962562and cope fucking harder you bootlicking piece of shit hahahahahaImagine wanting to be a poor wageslave.>>28964404It's almost as if Japan has a crazy high personal savings rate or something. It's almost as if their economy has still stagnated since the 90s and would be a lot better off if their government didn't have all this debt.
The book that btfos libertarian fags, Austrians, shitlibs, and progressives.
>>28965114and it's fucking bullshit>dude diverting resources from the production of consumer goods and research towards wasteful war spending is good because sometimes we come up with new technologiesWhat a retard.
>>28965247You never read it retard. Move along yid, white men talking here.
>>28965375>You never read it retard.So? I never read the bible.It's entire premise is false.Government only destroys.War spending is the most wasteful thing imaginable.Why don't you read this book that shows empirically that government is inherently extremely wasteful as scientific research and war spending is no exception.https://www.amazon.com/Economic-Laws-Scientific-Research/dp/0312173067
>>28965375>Move along yid>defends war spending for israellmao
>>28964903the debt literally doesnt slow the economic growth. Their population has been declining steadily and their population aging, maybe that affects growth lmao dumb nigger
I was shooting heroin and reading “The Fountainhead” in the front seat of my privately owned police cruiser when a call came in. I put a quarter in the radio to activate it. It was the chief.“Bad news, detective. We got a situation.”“What? Is the mayor trying to ban trans fats again?”“Worse. Somebody just stole four hundred and forty-seven million dollars’ worth of bitcoins.”The heroin needle practically fell out of my arm. “What kind of monster would do something like that? Bitcoins are the ultimate currency: virtual, anonymous, stateless. They represent true economic freedom, not subject to arbitrary manipulation by any government. Do we have any leads?”“Not yet. But mark my words: we’re going to figure out who did this and we’re going to take them down … provided someone pays us a fair market rate to do so.”“Easy, chief,” I said. “Any rate the market offers is, by definition, fair.”He laughed. “That’s why you’re the best I got, Lisowski. Now you get out there and find those bitcoins.”“Don’t worry,” I said. “I’m on it.”I put a quarter in the siren. Ten minutes later, I was on the scene. It was a normal office building, strangled on all sides by public sidewalks. I hopped over them and went inside.“Home Depot™ Presents the Police!®” I said, flashing my badge and my gun and a small picture of Ron Paul. “Nobody move unless you want to!” They didn’t.“Now, which one of you punks is going to pay me to investigate this crime?” No one spoke up.“Come on,” I said. “Don’t you all understand that the protection of private property is the foundation of all personal liberty?”
>>28966275It didn’t seem like they did.“Seriously, guys. Without a strong economic motivator, I’m just going to stand here and not solve this case. Cash is fine, but I prefer being paid in gold bullion or autographed Penn Jillette posters.”Nothing. These people were stonewalling me. It almost seemed like they didn’t care that a fortune in computer money invented to buy drugs was missing.I figured I could wait them out. I lit several cigarettes indoors. A pregnant lady coughed, and I told her that secondhand smoke is a myth. Just then, a man in glasses made a break for it.“Subway™ Eat Fresh and Freeze, Scumbag!®” I yelled.Too late. He was already out the front door. I went after him.“Stop right there!” I yelled as I ran. He was faster than me because I always try to avoid stepping on public sidewalks. Our country needs a private-sidewalk voucher system, but, thanks to the incestuous interplay between our corrupt federal government and the public-sidewalk lobby, it will never happen.I was losing him. “Listen, I’ll pay you to stop!” I yelled. “What would you consider an appropriate price point for stopping? I’ll offer you a thirteenth of an ounce of gold and a gently worn ‘Bob Barr ‘08’ extra-large long-sleeved men’s T-shirt!”
>>28966275He turned. In his hand was a revolver that the Constitution said he had every right to own. He fired at me and missed. I pulled my own gun, put a quarter in it, and fired back. The bullet lodged in a U.S.P.S. mailbox less than a foot from his head. I shot the mailbox again, on purpose.“All right, all right!” the man yelled, throwing down his weapon. “I give up, cop! I confess: I took the bitcoins.”“Why’d you do it?” I asked, as I slapped a pair of Oikos™ Greek Yogurt Presents Handcuffs® on the guy.“Because I was afraid.”“Afraid?”“Afraid of an economic future free from the pernicious meddling of central bankers,” he said. “I’m a central banker.”I wanted to coldcock the guy. Years ago, a central banker killed my partner. Instead, I shook my head.“Let this be a message to all your central-banker friends out on the street,” I said. “No matter how many bitcoins you steal, you’ll never take away the dream of an open society based on the principles of personal and economic freedom.”He nodded, because he knew I was right. Then he swiped his credit card to pay me.
>>28966275>cringe boomer 2010 strawman copypasta that pretends libertarians like ayn rand]WHOA BRO you totally got ushow can we recover
I WILL APPEAR AS A BIG FISH AND YOU WILL SUCK DICKS AS USUAL STILL USE THIS TRASH?!?!? LOL WHAT A RUBBISHBE SMART GO FOR BOT OCEAN AND THANK ME
>>28965657Already refuted by vernon ruttan. Since you're lazy you can read libertarian walter bock's coping review of the book at the mises website. Since I'm generous I've included another book pointing out the military origin of the development of mass production in the united states.>>28965751False equivocation.
>>28966216>>28966216>the debt literally doesnt slow the economic growth.It is though lmao. Japan has been stagnating. since thenfucking moron>lmao dumb niggerlmao you literally defend keynes and MMTWhat a fucking bootlicker, enjoy wasteslaing and dying working at walmart until you're 80 ahahahahahahaha
>>28942710Isn't that the guy from Evil Corp?
>>28966513>Already refuted by vernon ruttan.Literally who? Why don't you read the book faggot?>military origin of the development of mass production LMAOThe industrial revolution in america happened during the free market, free banking era when war spending was extremely tiny. You were saying?>False equivocation.It's true.Fuck you and fuck war. Eat shit kike.
>>28966275>>28966346>>28966421kek, libertarians are so gay>>28966454libertarians either:a) like ayn randb) want to fuck kidsc) both
>>28966710>libertarians either:>a) like ayn rand>b) want to fuck kids>c) bothWHOA more seething pedophile jokes and more le ayn rand memesYou people are so fucking dumb I'm surprised you know how to breathe.You literally lick boots and enjoy wageslaving for federal reserve notes lmao
>>28966531Austrian economics do that lol. NO MINIMUM WAGE DAS GUBMINT INTERVENTIONAgain, the stagnation has way more to do with the fact that A.) they are literally dying off and B.) All economies will slow down their growthThere is not a single economy in the world that will see constant high levels of growth. Japan was a growth-miracle for years ofc theyd slow. Debt really is not as big a deal when you owe it in your own money (Greece and Weimar Rep. owed in money they didnt have a monopoly on). Plus I fail to understand how the argument can be China's economy is bad (kek) because GDP means nothing, but Japan's is bad because GDP has slowed. Pick one you Austrian shil
>>28966842Libertarianism is the ultimate wagecuck ideology. They'd bring back legal slavery if they could lmao
>>28944629All value is subjective you Keynesian economist faggot. Subjective value is required for trade.
>>28966863>NO MINIMUM WAGE DAS GUBMINT INTERVENTIONOf course.Wait lmao AHAHHAHAHA You think minimum wages are responsible for increased living standards?>Again, the stagnation has way more to do with the fact that A.) they are literally dying off and B.) All economies will slow down their growthVery little to do with it at all. They've been stagnating ever since they tried your precious keynesian experiment. Go read more krugman and get brainwashed by his mental gymnastics.>There is not a single economy in the world that will see constant high levels of growth.Why not? The only things that seem to stop it are government intervention.
>>28966960Keynsian economics understands value is subjective
>>28942710It’s easy to be right about the economy crashing when you’re literally always saying it’s going to crash. >constantly say economy/certain market about to crash>be wrong 99% of the timeMarket finally crashes >SEE I TOLD YOU SO How do you guys fall for this scam artist’s bullshit?
>>28966937>Libertarianism is the ultimate wagecuck ideology.How is desiring your wages actually increase in value a wagecuck ideology?You actually think it's a good thing real wages never increase lmaoBoot licker>They'd bring back legal slavery if they could lmaoYou say this as you ACTUALLY LITERALLY DEFEND SLAVERYJust admit you enjoy being raped by governments and corporations keynes shill.Keynes couldn't even get his math right.
>>28942710i been mocking him non-stop as well.
>>28967177>It’s easy to be right about the economy crashing when you’re literally always saying it’s going to crash.But he's not saying it's always going to crash and he explains the exact methods in which the crash occurs like with the housing market.eat shit
>>28967202gold cucks can't into math either.
>>28947116>he doesn’t know the fed was created in 1913Do you have any ridges in your brain?
>>28967248He's right about everything except bitcoin.
>>28942710he’s based but knows fuxk all about crypto
>>28942710If you cry wolf for 50 years straight, a few times you'll actually be right. That doesn't mean that wolves are a long term systemic problem.
>>28967202you think if corporations were given unfettered control over society they would voluntarily increase your wages, you retarded faggot?BEST case you get to spend your wages at the company store, REALITY is Chiquita situation where they send death squads after employees who complain too much
>>28967202How is Keynesian economics SLAVERY hahah what the fuck big dawg. You know Libertarians are down with paying $1hr wages if they could, or even $0.
>dotcom bubblePrices are higher now than they were at the peak of the bubble.>housing bubbleSee aboveHe's a smooth brain retard. BTC will crash obviously, but it'll crash from $10M to $300k and then slowly rebound back up to $30M by the end of this decade.
>>28967510>you think if corporations were given unfettered control over societyThat's not what Libertarians want whatsoever. In fact there would potentially be more restrictions on them.You're the idiots that think we should print unlimited dollars and use it to inflate a stock market bubble.> voluntarily increase your wagesWage rates are not dictated by individual employers, they're the result of marginal productivity. >>28967518>How is Keynesian economics SLAVERY>dude how is having my wages get devalued all the time slavery, it's a good thing I work for nothingsee:>>28967430Keynesian economics is based on faulty math. PERIOD>You know Libertarians are down with paying $1hr wages if they couldThen why during free banking/free market eras did real wages significantly rise?
>>28942710>he called the bubblesSo true and don't forget he also called the last two bitcoin bubbles. In fact, he's literally always calling bitcoin, stocks, and real estate in a bubble. Occasionally it turns out to be true and his 70 IQ followers think he made some sort of genius call while he brags about his great bubble calls for the rest of eternity.
>>28967552>>dotcom bubble>Prices are higher now than they were at the peak of the bubble.>>housing bubble>See aboveBecause the fed reinflated the bubble.Peter literally talked about this, idiot.>>28967814>t. never listened to schiff once
>>28966694Keep chimping illiterate. Why are Austrians and libertarian so anti semitic? It's probably the most Jewish ideology ever developed. Like 3/4's of it's most prominent theorists are jews and every libertarian organization is larded with Jewish weirdos. The only good libertarians were some of the first generation historical revisionists.
>>28967794>Then why during free banking/free market eras did real wages significantly rise?They did after too
>>28967280https://topratedfirms.com/brokers/customer/europacificcapital-review.aspxWhy don’t you invest in euro pacific if you think he’s some sort of investing genius?
>>28967794>Wage rates are not dictated by individual employersYea this is wrong lol. Employers will always pay as little as possible
>>28967909>They did after tooAt a much smaller pace.Either way wages rose much higher during this era and you're just coping about it.We've had wage stagnation the past 50 years thanks to your policies.>>28967885>Why are Austrians and libertarian so anti semitic?Um, we're not? I just don't like wars for Israel.
>>28967353the fucking coward tho shadow banned me on his youtube. if check the comments not logged in i don't see them. too bad.
>>28967983>so called economics expert thinks individual firms magically control all wage rateslmao yeah that's why all businesses pay 0 dollars an hour and people still work for them amirite?
>>28967430no it's absolutely correct if you could do basic elementary math you would see gold loses purchasing power against real inflation.it's a money sink.
>>28944339best post in this thread
>>28968054that's just youtube fuckeryI highly doubt peter himself is "shadowbanning" you.
No one can be right about everything.
>>28968142>gold loses purchasing power against real inflation.what do you mean by real inflation? The price of gold has just significantly increased the past 50 years
>>28942710even if you bought stocks right before the dotcom crash or the housing crash, you would still be in a better position today than I've you had bought gold instead.
>>28943056Fundamentals win out in the end, so why try to convince the masses of their foolish ways in the mean time?
>>28968290i mean real inflation as opposed to cpi.
>>28968490yeah, gold is still much higher than real inflation.I mean look at this image:>>28967202
>>28968580>yeah, gold is still much higher than real inflation.nopegold consistently loses over longer period of time against inflation. the main reason for this is the massive demonetization of gold and this coupled with the exponentially growing mining output while human population growth capped hard. but of course those that sell gold don't talk about this.
>>28968580dude just because the price of something is going up nominally it doesn't in a billion year mean it keeps up with asset inflation.
>>28942710>calls everything thats not gold a bubble and sometiles he is rightLiterally every boomer on the planet.
>>28968843sadly i can't tell people about this on youtube because the assholes that sell gold to innocent and naive people got me shadow banned.well there goes my first and only experiment with social media.
>>28942799>I think the only reason he dislikes Bitcoin is cause he’s a boomer and he refuses to understand it.He definitely understands it he also makes his living selling gold custodian services. He has clear and direct conflict of interest and is likely making much less money as BTC started taking off.
>>28969904I agree with that sentiment. Personally I feel like both gold and crypto pull from the same contrarian audience. However, I do think hes right that we are in a massive speculation bubble. We are probably still years out from bitcoin becoming too mainstream, and there will be big losers from current market. However I don't see bitcoin ever going to 0.
>>28970299>we are in a massive speculation bubble.no shit sherlock. and the funniest thing is when the bubble burst gold may be the one thing that tanks hardest. right after crypto of course.
>>28942710well... you can buy gold with bitcoin from schiffso maybe it's not soo useless after all ha
>>28970792good luck buying spot.
>>28970792as well as your house and the world economy followed by riots and ze gret reeeesetalso cool id bro
>>28971111cheaking myself shamlessly
>>28943284With 7 tps?
>>28971111Bitpay isn't actually paying the seller with bitcoin though. They take the buyer's bitcoin and sell it to some exchange, then send the dollars to the seller of the real goods.Thank goodness bitcoin is decentralized so you don't have to deal with middlemen or counterparty risk right?
>>28967510>they would voluntarily increase your wagesno, but they would have no choice but to pay a wage close to people's productivity to retain employees, or else another company will outbid them for the labor. Very few people make minimum wage already because of this. Wage increases don't come from government.
>>28942778>>28942799He's right about Bitcoin but for the wrong reasons>>28943040This
It seems like his reputation would change overnight if the comex, JPM, and whoever the fuck else would just fuck off for like two days and let gold and silver pump. Bitcoin doesn't even need to dump.
>>28968303If you bought SPY at the peak in 2000, it was $153. Now it's worth $393. That's 2.5x your investment.If you had bought gold at the same time at about $300, its current price of 1772 is 5.9x your investment. Even if you had bought gold much higher at $400 throughout the mid 90s, you still have a better return.
>>28974115>>28943040He has made this argument many times. Even if bitcoin itself has a limited supply, there is an unlimited number of other crypto ready to take its place.Though I think a similar thing can be said of gold. He likes to say gold has intrinsic value for its use in industry. Though gold could be used for many things in industry, people can and do substitute other metals in its place most of the time. Gold will never go to 0 because it is useful, but I don't think its current valuation is supported by the few places where there are no alternatives.
>>28942799he owns fantom