kerafym
Full Member
 Offline
Activity: 224
Merit: 100
THE GAME OF CHANCE. CHANGED.
|
 |
July 28, 2014, 05:16:36 AM |
|
Has he change his view on bitcoin yet?
He was right on real estate, but dead wrong on bitcoin.
Everybody laughed at him all the way up until the housing crisis occurred. People are laughing at him now regarding the crash of USD. Now all of the people that laughed at him won't even talk to him. The whole bitcoin community laughs at him. I think he's right. Bitcoin is a bubble. Peter says, "If it looks like a bubble, walks like a bubble, and quacks like a bubble, it's probably a bubble. And if there's one thing I know, it's bubbles." When/if bitcoin goes main stream, all of the early adopters holding hundreds or thousands of bitcoins will cash out all at once. Then it will crash. Bitcoin is a means to something greater. Only time and ingenuity will tell what that is. And keep in mind that Peter doesn't really accept bitcoin for gold. He uses bitpay. No doubt bitcoin is in bubble. But that is true for just about any assets out there largely due to the printing press running non-stop. |
|
|
|
|
shawshankinmate37927
|
|
July 28, 2014, 01:41:10 PM |
|
He believes in limited government. He believes in a gold standard. He believes the only job of government is to protect life, liberty, and property. No more, no less. There are a lot of problems with our gov, no doubt. But I think the fact that Peter consistently puts his money where his mouth is says a lot about his integrity. He's no hypocrit, far from it.
I didn't accuse him of being a hypocrite. I accused him of believing the fiat scam can be brought to an end via the political process. His idea of a gold standard is "let's let the bankers hold all of the gold and issue paper to the people". Fuck that. That's already been tried. It failed. For some inexplicable reason he believes it will work out just fine if they just try it one more time. |
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford
|
|
|
|
wenben
|
|
July 28, 2014, 02:31:51 PM |
|
He believes in limited government. He believes in a gold standard. He believes the only job of government is to protect life, liberty, and property. No more, no less. There are a lot of problems with our gov, no doubt. But I think the fact that Peter consistently puts his money where his mouth is says a lot about his integrity. He's no hypocrit, far from it.
I didn't accuse him of being a hypocrite. I accused him of believing the fiat scam can be brought to an end via the political process. His idea of a gold standard is "let's let the bankers hold all of the gold and issue paper to the people". Fuck that. That's already been tried. It failed. For some inexplicable reason he believes it will work out just fine if they just try it one more time. He believe in paper gold because he is getting commission selling them. |
|
|
|
|
|
painlord2k
|
|
August 02, 2014, 04:08:15 PM |
|
Devils advocate. What's backing bitcoin? If value is subjective, nothing can back anything and ideed it does. Backing is just a promise waiting to be broken. |
|
|
|
|
|
madken7777
|
|
August 02, 2014, 06:05:49 PM |
|
Devils advocate. What's backing bitcoin? If value is subjective, nothing can back anything and ideed it does. Backing is just a promise waiting to be broken. Right. And there is no such thing as "intrinsic value" that is not subjective. Gold has value because we give it value. It is worthless to non-human. |
|
|
|
|
|
shawshankinmate37927
|
|
August 02, 2014, 11:02:58 PM |
|
Backing is just a promise waiting to be broken.
Another great way of putting it and I completely agree. I'm not interested in promises from bankers or politicians. |
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford
|
|
|
tabnloz
Legendary
Offline
Activity: 961
Merit: 1000
|
|
August 10, 2014, 12:48:31 PM |
|
According to Jeffrey Tucker (speaking on LTB podcast), Schiff has had a complete change of heart re: bitcoin.
Tucker puts it down to experiencing bitcoin; he related the story of being ridiculed by Schiff for 18 months over his bitcoin stance until one day Schiff approached him, marvelling at how quick bitcoin transactions were completed and how it saved his company plenty on fee payments.
Slowly but surely, the gold bugs are turning.
|
|
|
|
|
|
bitrider
|
|
August 10, 2014, 07:09:17 PM |
|
According to Jeffrey Tucker (speaking on LTB podcast), Schiff has had a complete change of heart re: bitcoin.
Tucker puts it down to experiencing bitcoin; he related the story of being ridiculed by Schiff for 18 months over his bitcoin stance until one day Schiff approached him, marvelling at how quick bitcoin transactions were completed and how it saved his company plenty on fee payments.
Slowly but surely, the gold bugs are turning.
Could not help a big, big  come over me, when I heard that story. |
|
|
|
|
|
bassclef
|
|
August 10, 2014, 09:39:43 PM |
|
According to Jeffrey Tucker (speaking on LTB podcast), Schiff has had a complete change of heart re: bitcoin.
Tucker puts it down to experiencing bitcoin; he related the story of being ridiculed by Schiff for 18 months over his bitcoin stance until one day Schiff approached him, marvelling at how quick bitcoin transactions were completed and how it saved his company plenty on fee payments.
Slowly but surely, the gold bugs are turning.
Haha, that's great. I knew Peter would come around sooner or later. Fun fact: His father Irwin was a big figure in the tax protester movement and is currently serving time in Federal Prison for it. Of course Peter likes Bitcoin. |
|
|
|
|
|
|
|
shawshankinmate37927
|
|
August 12, 2014, 08:01:45 PM |
|
|
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford
|
|
|
tvbcof
Legendary
Offline
Activity: 4592
Merit: 1276
|
|
August 12, 2014, 08:58:44 PM |
|
Another butt-hurt loser screed from Peter Schiff. Yawn. I still have him in my bookmarks from almost a decade ago, but fortunately I stopped paying any attention to him whatsoever before even the 2008 fiasco, much less before he had a chance to lose me a ton of money on Bitcoin. Actually, the guy was way late on Bitcoin. He'd yet to even hear about it by the time I'd made my move. Schiff likes to pretend that he's the only one who foresaw the housing issues and such in the mid 00's. Not true at all. Many many bright people were shrieking from the roofs about it. He was the only one that I remember who was yammering on about how the Euro-zone and APAC were the magic bullet. Few others were that retarded. |
sig spam anywhere and self-moderated threads on the pol&soc board are for losers.
|
|
|
coinits
Legendary
Offline
Activity: 1582
Merit: 1019
011110000110110101110010
|
|
August 12, 2014, 09:01:59 PM |
|
peter schiff is an idiot who has been pumping precious metals and is heavily invested in them. I knew about him before bitcoin and I would have told you the exact same thing, because it's obvious. end of discussion.
Hardly an idiot! Any wise person would hold some physical precious metals as part of their portfolio. |
Jump you fuckers! | The thing about smart motherfuckers is they sound like crazy motherfuckers to dumb motherfuckers. | My sig space for rent for 0.01 btc per week.
|
|
|
|
shawshankinmate37927
|
|
August 12, 2014, 09:30:45 PM |
|
Schiff likes to pretend that he's the only one who foresaw the housing issues and such in the mid 00's. Not true at all. Many many bright people were shrieking from the roofs about it. He was the only one that I remember who was yammering on about how the Euro-zone and APAC were the magic bullet. Few others were that retarded.
Do you happen to have any links to the predictions that were made by a few of them? I do remember seeing that Ron Paul predicted the housing collapse a few years in advance but don't recall seeing any others. ( www.youtube.com/watch?v=9S3lXDOQ7ec) |
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford
|
|
|
MoonShadow
Legendary
Offline
Activity: 1708
Merit: 1007
|
|
August 14, 2014, 03:53:50 AM |
|
Schiff likes to pretend that he's the only one who foresaw the housing issues and such in the mid 00's. Not true at all. Many many bright people were shrieking from the roofs about it. He was the only one that I remember who was yammering on about how the Euro-zone and APAC were the magic bullet. Few others were that retarded.
Do you happen to have any links to the predictions that were made by a few of them? I do remember seeing that Ron Paul predicted the housing collapse a few years in advance but don't recall seeing any others. ( www.youtube.com/watch?v=9S3lXDOQ7ec) Mish Shedlock did. I know there were at least a few more that I paid attention to. Several at motleyfool. |
"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
|
|
|
MoonShadow
Legendary
Offline
Activity: 1708
Merit: 1007
|
|
August 14, 2014, 03:56:29 AM |
|
Schiff likes to pretend that he's the only one who foresaw the housing issues and such in the mid 00's. Not true at all. Many many bright people were shrieking from the roofs about it. He was the only one that I remember who was yammering on about how the Euro-zone and APAC were the magic bullet. Few others were that retarded.
Do you happen to have any links to the predictions that were made by a few of them? I do remember seeing that Ron Paul predicted the housing collapse a few years in advance but don't recall seeing any others. ( www.youtube.com/watch?v=9S3lXDOQ7ec) Mish Shedlock did. I know there were at least a few more that I paid attention to. Several at motleyfool. Without a doubt, Mish did it with the most profound detail and accuracy of any I know of. He was tracking the progression of the housing market over a silhouette of the graph of the rise and fall of the real estate market in Japan before and after it's great crash in the 80's. It was odd how well it tracked. It's statistical corrolation was above 90% IIRC. |
"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
|
|
|
flyingcatt
Member
Offline
Activity: 70
Merit: 10
|
|
August 20, 2014, 04:01:08 PM |
|
This guy should sell 50% of his Gold and buy BTC if he doesnt want to be seen as the biggest idiot in the next decade.
|
|
|
|
|
|
noel57
|
|
August 21, 2014, 01:27:25 PM |
|
Bitcoins have value, but it is a USE value determined by market forces; he is correct in asserting that the value of bitcoin is NOT intrinsic since the digital substance of the blockchains has no other use than as a medium of exchange and store of value. Were bitcoin to cease being used as money it would have no INTRINSIC value outside of this function, and in this respect it differs from gold and silver which do have substantial intrinsic value.
Yes , bitcoin is not intrinsic but its use and marketing power is way out of this world just imagine its network outreach up to date. |
|
|
|
rpietila
Donator
Legendary
Offline
Activity: 1722
Merit: 1036
|
|
August 22, 2014, 05:56:51 AM |
|
Bitcoin's price development since 2009-1-3 (the inception) correlates 0.935 with an exponential trendline.
If I had a medium sized investment portfolio (I do), I would allocate as follows:
Bitcoin 45%
Monero 5%
Real Estate 20%
Small Business & Projects 10%
Cash, financial instruments 10%
Gold 5%
Silver 5%.
If you don't want to invest 50% in crypto, just invest 5-10% and it will become 50% spontaneously in 1 year, should the trend continue.
|
HIM TVA Dragon, AOK-GM, Emperor of the Earth, Creator of the World, King of Crypto Kingdom, Lord of Malla, AOD-GEN, SA-GEN5, Ministry of Plenty (Join NOW!), Professor of Economics and Theology, Ph.D, AM, Chairman, Treasurer, Founder, CEO, 3*MG-2, 82*OHK, NKP, WTF, FFF, etc(x3)
|
|
|
Rassah
Legendary
Offline
Activity: 1680
Merit: 1035
|
|
August 22, 2014, 06:49:11 AM |
|
Bitcoin's price development since 2009-1-3 (the inception) correlates 0.935 with an exponential trendline.
If I had a medium sized investment portfolio (I do), I would allocate as follows:
Bitcoin 45%
Monero 5%
Real Estate 20%
Small Business & Projects 10%
Cash, financial instruments 10%
Gold 5%
Silver 5%.
If you don't want to invest 50% in crypto, just invest 5-10% and it will become 50% spontaneously in 1 year, should the trend continue.
So... not 95%? Damn... Maybe I'm being too risky. Then again, I do like to live dangerously vicariously |
|
|
|
|
|
