[2018-03-24] ‘Gold Bug’ Peter Schiff’s Company Now Accepts Bitcoin Cash

[ivanpoldark]

This week the bitcoin cash community was surprised to hear that the infamous ‘gold bug’ Peter Schiff is now accepting bitcoin cash, joining a number of precious metals businesses that accept BCH.

The Guy Who Calls the Bitcoin Economy ‘Digital Beanie Babies’ Now Accepts Bitcoin Cash

The economist and notorious ‘gold bug’ Peter Schiff has been a ‘bitcoin hater’ for quite some time. Schiff believes that bitcoin is worthless and considers the cryptocurrency to be much like the tulip or Beanie Babies hype. This past summer Schiff debated Max Keiser and said that “cryptocurrency market signals are wrong.” At the time Schiff stated:   

“[Bitcoin] is being created but there is no real value in bitcoin; it’s all based on faith. If somebody doesn’t want your bitcoin there’s nothing you can do with it, right?” asks Schiff during the debate with Keiser.

However, even though Schiff hates bitcoin he still accepts the cryptocurrency through the payment processor Bitpay. During the Libertycon conference in Washington, DC, Schiff told the audience that he immediately cashes out into fiat during his debate with Bitcoin.com’s Communications Ambassador Sterlin Lujan.

Read more: https://news.bitcoin.com/gold-bug-peter-schiffs-company-now-accepts-bitcoin-cash/

[aso118]

Accepting Bitcoin or Bitcoin Cash through a payment processor really doesn't require you to believe in the future of cryptocurrencies. In your view, fiat is delivered into your bank account - you don't really care about what happens in the background. If adding cryptocurrencies as a payment option helps attracts few customers, then there is nothing wrong in adding it.

[Xavofat]

I don't think it matters.  Not every person who prefers Bitcoin has to refuse to accept fiat, and not every person who prefers fiat has to refuse to accept Bitcoin.

Ultimately, he's going to do whatever it takes to get the most fiat money for his business, and if that involves accepting something else and then converting it to fiat I'm sure he's perfectly happy to do that as well.

What this does mean though is that quite a few gold owners are also Bitcoin users and arguably that Bitcoin is becoming increasingly relevant as an asset to these people, since there's enough Bitcoin users in the gold space to warrant several places accepting Bitcoin as payment.

[thefaucetrunner]

Yeah, I don't think it matters. Peter Schiff is kind of on the fringe of the finance world. The fact that he accepts BTC and BCH just long enough to cash out doesn't mean much. He probably calculated it as a good way for people who use BTC and BCH as a safe haven can easily buy gold, the great historical safe haven since forever, from him. I don't know if he has actually targeted them in his radio show or podcasts, but I would suspect that it's coming.

[Karartma1]

A full bitcoin hater that now has a full page about Bitcoin on its gold-Silver selling website
https://schiffgold.com/buy/buying-gold-silver-bitcoin/
There's no honesty in men when it's about money