Peter Zeihan’s misleading information about bitcoin

[Oshosondy]

The person you think is having knowledge can mislead you, you need to know the right thing yourself, see what an analyst said about bitcoin in a podcast or something:

https://open.spotify.com/episode/406fOiiKMU0ot5AS1AIwve

What I see is that Peter Zeihan do not know what bitcoin is, he is only of the old fashion where the world has passed and moving to the future.

He said bitcoin has no value. The price of bitcoin today is $17000 and he said the price will go down $17000 more. That only means that the price of bitcoin is going to zero. But if that happens, he needs to wake up and see that he is only dreaming and not in reality.

He said bitcoin has no value, he did not know how bitcoin has helped economy, making poor people to become rich. Because of bitcoin, blockchain was created, helping the world. Countries are now making use of blockchain today. If not for bitcoin, there may be nothing like crypto exchanges today, see the tax the government are generating, also from other crypto businesses. See what people are generating from mining.

This so called analysts that has nothing good to offer about bitcoin just said bitcoin has no intrinsic value. If you do not know about something, why lying to the world?

[Doan9269]

The person you think is having knowledge can mislead you, you need to know the right thing yourself, see what an analyst said about bitcoin in a podcast or something:

This talks more on the need to engahe personal findings about bitcoin, this will help going against misinformation and if such occur you could easily detest such, that's why if you're investing because others are doing so you may not achieve their kind of result without understanding how they make it through the whole process, what you don't know will cost you.

What I see is that Peter Zeihan do not know what bitcoin is, he is only of the old fashion where the world has passed and moving to the future.

People get this wrong all because someone has money to invest on bitcoin doesn't mean he knows about it, some were just after a decentralized means to secure their asset from bankruptcy and government regulations, they aren't the kind of role models to follow suit after bitcoin

He said bitcoin has no value.

Now for an average investor or bitcoiner, they should know that this is wrong without anyone telling them why it is, the media is an open place everyone can talk what they feels like, but not all were true, you must learn to descern the right from wrong informations about bitcoin.

[pooya87]

This so called analysts that has nothing good to offer about bitcoin just said bitcoin has no intrinsic value. If you do not know about something, why lying to the world?

Whenever something becomes popular and is considered the "hot topic" a lot of people would try to talk about it so that they can be seen. Sometimes it backfires when they say a bunch of nonsense that shows how little knowledge they have and how illiterate they are.
I don't really know who this guy is and after looking him up, he is claiming to be a "geopolitical strategist" and after looking into that it seems like he doesn't even have any actual knowledge in that field lol.

[Solosanz]

In a recent JRE episode, Zeihan, an American geopolitical analyst and author, claimed that crypto was always a “hot dumpster fire” and that Bitcoin has no intrinsic value. The analyst claimed that the number one digital asset by market capitalization is now being priced “more appropriately.”

Zeihan also argued that the “whole idea of economic activity is that there’s expansion, which means you need more currency to lubricate and manage that expansion. ”The analyst argued that if a currency’s supply is locked, there will be monetary inflation and this could “destroy an economic model.”

Zeihan is a geopolitical analyst and author which is doesn't have any relation with Bitcoin, I think his brain already get washed by government since he's prefer to use an unlimited currency e.g. fiat. Talking about limited supply will case monetary inflation and destroy an economic model isn't make sense, actually the unlimited supply will cause inflation since when there's new currency exist to the circulation, it will make the value of the currency will decrease.

Although the tiny size of Bitcoin on chain is satoshi, but if you use lightning network you can send a milli or micro satoshi.

[Z-tight]

There have been many 'Peter Zeihan's' ever since BTC's creation, it was supposed to be a bubble for them, that didn't happen, then it was supposed to collapse once there was a world crisis or something similar to that, we had covid pandemic and currently there is global inflation, but BTC didn't collapse. Now that they know it can't collapse they want to regulate it and also spread their cbdc's to see if people would be more interested in it than BTC. I have stopped listening to people who think BTC has no value, it proves the person as one who speaks without research or understanding.

[un_rank]

His submission is utter nonsense and it would be better if we the bitcoin community does not publicize it or amplify his voice. There are some links to the reactions from the bitcoin community^[1], that would make for a better content to share. There is a handful of them over at nitter^[2]

[1] https://cointelegraph.com/news/bitcoin-community-not-happy-with-peter-zeihan-s-criticisms-on-joe-rogan-podcast
[2] https://nitter.it/search?f=tweets&q=Peter+Zeihan&since=&until=&near=

- Jay -

[davis196]

He said bitcoin has no value, he did not know how bitcoin has helped economy, making poor people to become rich. Because of bitcoin, blockchain was created, helping the world. Countries are now making use of blockchain today. If not for bitcoin, there may be nothing like crypto exchanges today, see the tax the government are generating, also from other crypto businesses. See what people are generating from mining.

Why are you so butthurt? Bitcoin haters are gonna hate, no matter what.
Bitcoin helped the economy? Which economy? How Bitcoin helped poor people to become rich? By buying low and selling high?
Which countries are making use of blockchain today? Can you mention a few countries and how they are using blockchain technology?
Can you show me verified info about how much taxes are getting paid to the governments by global crypto companies around the world?
I don't care at all about this Peter Zeihan guy. We shouldn't waste our time with people, who don't want to understand Bitcoin/crypto and want to spread FUD and hatred over Bitcoin/crypto.

[worle1bm]

I sometimes wonder how people believe in them and they have the tag of influencers because they have nothing that can be categorised as experts on the matter.Same like him they all are paid influencers who get paid from shit tokens to pump it and fools are people who believe in their nonsense talks.This information about btc from him clearly states how much aware he is of the Bitcoin future adoption plans so the time will tell him the reality but don't get into their talks and simply ignore them.

[stompix]

He said bitcoin has no value, he did not know how bitcoin has helped economy, making poor people to become rich. Because of bitcoin, blockchain was created, helping the world. Countries are now making use of blockchain today.

And you're going the opposite way, instead of criticizing praising bitcoin but still, making quite hard to believe claims.

Bitcoin helped poor people become rich.
How, by buying low and selling high? Then we can argue that Telsa made poor people rich also and is a global benefactor and is challenging poverty all over the world. So did Apple and so did Microsoft. Besides, bitcoin is not an apple tree that grows and gives you more and more apples, when we refer to only the ability of making you rich you need to buy low and, sell high, and selling high requires somebody with deep enough pockets to buy your coins, cause if there is nobody offering even one cent for your coins their value would be zero. And now, who has that ton of money to buy all these expensive cheap coins, the, ..hmmm rich! So not only is Telsa making the poor rich but also the rich are making the poor rich! See how this goes?

If not for bitcoin, there may be nothing like crypto exchanges today, see the tax the government are generating, also from other crypto businesses. See what people are generating from mining.

This is like reading a press release from BAT or Philip Morris claiming how much in taxes they generate!
Simple question, if instead of playing with 1000$ on Binance and paying tax on my possible income I would go to a grocery store and spend that on food, would the government lose money, or would they take that 9% in VAT? When you're closing a ski resort it doesn't mean the government is losing directly money, cause those people will just spend it on something else, they will not burn it just because they can't ski, they will simply redirect it to another service provider.

Bitcoin works great for personal finances, it works great for your own safety, and your needs of privacy or security, but at a large scale it can't make everyone rich, and it can't turn a failed country into a prosperous economy on its own and more importantly, it can't make it rain money in everyone's pocket!
There is a huge difference between personal level finances and diving into macroeconomics!

[mk4]

Another Bitcoin critic that makes a crap ton of nonsense arguments. Why am I not surprised.

For those who doesn't want to watch the entire thing, here's a short clip: https://twitter.com/MartyBent/status/1612100160129040385

[White_Hat_LP]

There are people much more famous than Peter Zeihan who once said BTC had no value and later they ended up announcing in public they had bought a stash. The "no intrinsic value" theme gets old, BTC has lasting value based on network security, rarity, and a rapidly growing ecosystem etc.

[Rruchi man]

The person you think is having knowledge can mislead you, you need to know the right thing yourself, see what an analyst said about bitcoin in a podcast or something:

There is always the chance of being misled if you follow titles that people bear and take it that because of that title they bear, they really know what they claim to know. Your experience can be bad if you trust easily without verification or need for them to prove to you that they are really worth the trust that you are giving them.

This so called analysts that has nothing good to offer about bitcoin just said bitcoin has no intrinsic value. If you do not know about something, why lying to the world?

I pity the people who listen to these sort of people and take them seriously.

[cloirecrom]

that is why alwys invest based on your insight and research, at least when you are wrong you can learn and improve on it.
all this expert talking  is just full of misinformation, just like the bs that btc is dead, you hear it basicly every bear market

[LDL]

Various famous people have posted various negative comments about Bitcoin at different times, despite hundreds of negative comments, Bitcoin Revolution could not be stopped.  Peter Zeihan as a political analyst has made several negative comments about Bitcoin but his comments cannot change Bitcoin much.  Moreover, he may make such comments to achieve his political interests.

Dr. Jeff Ross, From his official Twitter account, Peter Zaihan's Bitcoin hate comments were strongly criticized and Peter Zaihan's Bitcoin comments were misrepresented.



https://twitter.com/VailshireCap/status/1612117047152087042?s=19

Peter McCormack (@PeterMcCormack) From his official Twitter page, he commented that Peter Zeihan's has  Poor understanding about Bitcoin.



https://twitter.com/PeterMcCormack/status/1611973179798437888?s=19

[Darker45]

Peter Zeihan is certainly wrong on a lot of things he said in Joe Rogan's podcast. But who cares? Bitcoin doesn't. Those who understand Bitcoin probably also don't, unless they think they need to convert this nobody.  

But I don't think it is correct to counter Zeihan's views by saying Bitcoin is valuable because it makes poor people rich, or because it gave rise to exchanges, or that governments are earning from the taxes from it, and so on. These are such poor counterarguments that, I'm afraid, won't help Bitcoin's cause nor defeat or enlighten Zeihan. Or they might even be wrong.

Bitcoin's value doesn't come from those. Bitcoin's value comes from its features.

[Hydrogen]

What I see is that Peter Zeihan do not know what bitcoin is, he is only of the old fashion where the world has passed and moving to the future.

He said bitcoin has no value. The price of bitcoin today is $17000 and he said the price will go down $17000 more.

If anyone wants to see Zeihan's arguments on crypto, here is a youtube link:

https://www.youtube.com/watch?v=AJeEFrRm01s

Everyone has their area of expertise. In Peter Zeihan's case, his specialization is geopolitics. A topic which he is good at.

Peter Zeihan however is not an investor who has taken time to familiarize themselves with finance or economic trends.

This is obvious from Zeihan repeating many of the urban myths and stereotypes about crypto. Clearly without him having taken the time to study the topic in depth.

Two topics Zeihan could tackle on crypto are the claim of it catering to an unbanked global demographic, it being deflationary in nature. As well as blockchain being a valid and functional data structure in computer science. Its clear Zeihan has likely never heard any of these claims. Which serves as a decent foundation for providing a counter argument for his claims.

[Carlton Banks]

Everyone has their area of expertise. In Peter Zeihan's case, his specialization is geopolitics. A topic which he is good at.

ok, I'll take your word for it

Peter Zeihan however is not an investor who has taken time to familiarize themselves with finance or economic trends.

This is obvious from Zeihan repeating many of the urban myths and stereotypes about crypto. Clearly without him having taken the time to study the topic in depth.

Two topics Zeihan could tackle on crypto are the claim of it catering to an unbanked global demographic, it being deflationary in nature. As well as blockchain being a valid and functional data structure in computer science. Its clear Zeihan has likely never heard any of these claims. Which serves as a decent foundation for providing a counter argument for his claims.

I dunno, what kind of accomplished geopolitical analyst in the 21^stC performs any of the actions in the above, in relation to any subject matter? sounds like he's not even any good at what he presents himself as, or he's maybe just a propagandist, i.e. the type of person who shows up on Joe Rogan all too frequently. Wherever does he get them all from?