The Bitcoin vs Gold Debate (CZ vs Schiff)

[Son Of Blockchain (SOB)]

 Bitcoin and Gold are very valuable assets and doing pretty good in the assets class but soon the world would realise that Bitcoin has the potential of being a better asset, infact Bitcoin is digital Gold since it's scarce and can also be used as a store of value, and i think it's prepared for security challenges including the potential quantum hacks in the future.
 With that being said, who else has seen the debate between CZ (Binance founder) and Peter Schiff  who's a Gold marketer and Bitcoin critics? I came across a short clip of their debate, where CZ gave Schiff a Gold bar he got from a prominent person from Turkistan and asked if he could tell if it's a real Gold or not but all Schiff could do was laugh and say " I don't know" while stammering. That says it all and what i learnt from that debate is that you can be sold fake Gold but you can't fake Bitcoin or sell fake Bitcoin to someone.

[Antona]

I think that debate moment highlighted the old world vs new world thinking, schiff represents the tangible asset you have to physically trust, CZ represents the digital, transparent asset you can verify yourself both have their place, but for global borderless value transfer, bitcoin's properties are just in a different league, you can't email a gold bar

[flapduck]

Most people holding a gold bar couldn't tell you if it's tungsten-filled or plated without an assay, a scale, and some proper testing gear, and that's kind of the point with physical bearer assets, verification does have real-world friction.

But I wouldn't oversell the "you can't fake Bitcoin" line either. You can't counterfeit the protocol's supply on-chain, sure, but you can absolutely sell people paper bitcoin and IOUs all day long, or straight up hand them a fake wallet app, a fake token, a fake QR code, or some sort of a custodian (basically a guy with a spreadsheet and a dream, lol).

[henry_of_skalitz]

I think that debate moment highlighted the old world vs new world thinking, schiff represents the tangible asset you have to physically trust, CZ represents the digital, transparent asset you can verify yourself both have their place, but for global borderless value transfer, bitcoin's properties are just in a different league, you can't email a gold bar

You can have bonds or things that may indicate you have said - gold -, but you won't own it, the same way you won't own BTC if you have ETFs.

[FirmWars]

The comparison of Bitcoin and gold is too much, we don't have to debate about them both, each fits well in which ever class they belongs, serving their different good purposes for every individual that wants each of them. Let people know about Bitcoin, they already know about gold because gold has been around since human history and evolution exposed the important things gold has been used for since the days of our grandfather's, so it's not new to people but Bitcoin is new to many, so let them know more about Bitcoin and make their decision from there, we must not compare with gold, I have known gold right from when I was a child 🤷‍♀️.

[mindrust]

I watched the whole video a while ago. Surprisingly, cz did way worse than I expected from him. Peter was the same Peter… repeating the same stuff but cz… he was underwhelming. The only time where he shined was the moment when he gave Peter a gold bar and asked him if it is real. Other than that cz was a weak sauce. I hate to admit it but Peter was the dominant figure in that debate. I somehow wish that never happened because people who watch this video might actually believe Peter’s bullcrap.

Peter say bitcoin nutthin and backed by nutthin and cz couldn’t counter this bullcrap with “btc is backed by hashpowa”

Shame

[aylabadia05]

The debate between two speakers on two different assets that can be used as a hedge against fiat currencies can broaden the horizons of those who follow it.
From the presentations of the two speakers, valuable points can be taken away as they reinforce what has been read so far. The two people debating these two valuable assets have extensive backgrounds in Bitcoin and Gold. Regarding whether they are right or wrong, everyone can compare for themselves based on data and history because everyone should know who CZ and Schiff are.

[death69]

That moment with the gold bar was really kind of hilarious. Like what was that response for CZ to do? The guy's whole thing is gold and he can't even check it on the spot. That's the problem isn't it.

This debate did not really change anything. Schiff's not gonna all of a sudden turn into a Bitcoin guy because he was embarrassed once. His entire business model is based on gold being the answer. He's locked in. Same with CZ honestly. He's not going to wake up tomorrow and start hoarding gold bars. They're both playing their roles.

And audiences treat this as some sort of final proof. It's not. It just demonstrates that there are verification problems with physical assets. We already knew that.

[EL MOHA]

I think that debate moment highlighted the old world vs new world thinking, schiff represents the tangible asset you have to physically trust, CZ represents the digital, transparent asset you can verify yourself both have their place, but for global borderless value transfer, bitcoin's properties are just in a different league, you can't email a gold bar

Let’s be realistic here there is no competition or whatever between this two bitcoin came as an alternative to other financial assets and that’s it. Both of these people are either promoting their bags or business or the other is simply hating on the asset because he never actually thought it would survive. Peter Schiff is actually not even for gold because tomorrow you will see him comparing it with asset like Silver, he is just for anything that is going to be a competition for bitcoin and that’s all.

[Cookdata]

That moment with the gold bar was really kind of hilarious. Like what was that response for CZ to do? The guy's whole thing is gold and he can't even check it on the spot. That's the problem isn't it.

This debate did not really change anything. Schiff's not gonna all of a sudden turn into a Bitcoin guy because he was embarrassed once. His entire business model is based on gold being the answer. He's locked in. Same with CZ honestly. He's not going to wake up tomorrow and start hoarding gold bars. They're both playing their roles.

And audiences treat this as some sort of final proof. It's not. It just demonstrates that there are verification problems with physical assets. We already knew that.

The comparison wasn't necessarily, CZ was trying to prove a point but I feel it's insulting to Bitcoin by the way. The debate was obviously to pick who was able to convince Peter Schiff that Bitcoin was better than Gold but I mean who don't know that Gold is inferior than Bitcoin. Telling Schiff to recognize the gold at first sight already tells you that there are more substandard gold that are flying around than the original gold.

I don't think I have seen anyone scam of fake Bitcoin, like bought a fake bitcoin. It's either they scam you for trying to buy Bitcoin from an unauthorized platform or places that are scam zone.

By the way, I don't think CZ is too different from Peter. That guy has some Bitcoin and I respect him for been a holder but he is market manipulator that deserves another jail term. The October 10 market dump hasn't been explained till now. He was hyping the market those times, engineering all kind of sentiments to make the market stay only to liquidate the market later. I don't trust him.

[bhadz]

I have watched that short clip and CZ explained well the difference of Bitcoin and gold there. Just with the explanation that he's got, I hope that many gold investors have found light with how he'd differentiated and described both of it.

That says it all and what i learnt from that debate is that you can be sold fake Gold but you can't fake Bitcoin or sell fake Bitcoin to someone.

This is true, it's rampant in the gold market that there are sellers of fake one. If you have no expert to check it with you or you don't know how to find one, you're likely to become a victim of the fake gold either in the form of jewelries or bar.

[btcwoot]

the sudden run on gold is like the sudden run on toilet paper at costco... you can get a lot of it but the price doesn't change compared to bitcoin

[OgNasty]

Schiff better be enjoying his moment in the limelight.  It'll be another 15 years before he has a moment like this again with precious metals outperforming everything.  He needs to make the most of it for his brand.  I'm sure his management team is working overtime trying to get his name out there as much as possible before the crash inevitably occurs.

[God Of Thunder]

Schiff better be enjoying his moment in the limelight.  It'll be another 15 years before he has a moment like this again with precious metals outperforming everything.  He needs to make the most of it for his brand.  I'm sure his management team is working overtime trying to get his name out there as much as possible before the crash inevitably occurs.

These are the same type of people who think that long working hours provide them with better results. These types of bosses do not want to approve leave for their employees. They don't understand a simple thing: if their employees are happy and mentally fresh, they will be more productive. I have worked for a private company that wanted me to work 14 hours a day. I mean, that company does not have any working hours schedule, and employees need to work until there is work to do. While most companies were doing all the works in software automation, my company was doing everything manually and on paper. The company didn't bought a automation software until a new person joined and convince them to use a software, so the employees can save time.

[viljy]

Bitcoin and Gold are very valuable assets and doing pretty good in the assets class but soon the world would realise that Bitcoin has the potential of being a better asset, infact Bitcoin is digital Gold since it's scarce and can also be used as a store of value, and i think it's prepared for security challenges including the potential quantum hacks in the future.
 With that being said, who else has seen the debate between CZ (Binance founder) and Peter Schiff  who's a Gold marketer and Bitcoin critics? I came across a short clip of their debate, where CZ gave Schiff a Gold bar he got from a prominent person from Turkistan and asked if he could tell if it's a real Gold or not but all Schiff could do was laugh and say " I don't know" while stammering. That says it all and what i learnt from that debate is that you can be sold fake Gold but you can't fake Bitcoin or sell fake Bitcoin to someone.

Of course, he doesn't know, because right now he doesn't have the necessary tools to calculate the density. In general, fake bars do occur. However, with the proper level of accuracy of the scales and accurate measurement of volume, it is possible to determine the discrepancy in density (provided that this gold is declared as 999 minimum).

At the household level, it is better to deal with coins. First of all, there are ready-made authentication templates for the most popular coins. The 999 sample is mostly common, although the Australian Mint mints 9999 coins. There is also a 900 sample (some Russian commemorative coins, for example, "Monetary circulation"), it is usually "rose gold".

It is much more difficult to forge a coin and, most importantly, it is unprofitable compared to forging an ingot of comparable weight. Anyway, making a coin out of tungsten and gilding it is far from a trivial technological task. If at all possible.

[NotATether]

I don't want CZ to be the face of Bitcoin.

He can go be the face of DeFi, crypto and other shitcoins. But he's no bitcoin maxi so we don't want him here.

I watched the whole video a while ago. Surprisingly, cz did way worse than I expected from him. Peter was the same Peter… repeating the same stuff but cz… he was underwhelming. The only time where he shined was the moment when he gave Peter a gold bar and asked him if it is real. Other than that cz was a weak sauce. I hate to admit it but Peter was the dominant figure in that debate. I somehow wish that never happened because people who watch this video might actually believe Peter’s bullcrap.

Peter say bitcoin nutthin and backed by nutthin and cz couldn’t counter this bullcrap with “btc is backed by hashpowa”

Shame

Peter Schiff is an actual podcaster for his gold investments so he has plenty of experience debating.... CZ should get his Trust Wallets in order before getting dunked on in another debate.

[BALIK]

In reality, digital gold is just a label people attach to Bitcoin, it is not digital gold. Bitcoin is Bitcoin, and Satoshi created it as an alternative, one that could coexist with the traditional financial and asset system. It neither competes with nor replaces anyone. Therefore, there is no need to continue comparing them and trying to prove which one is superior to the other.

The gap between Bitcoin and gold is enormous, and that gap cannot be narrowed simply by comparative articles and claims that Bitcoin is better. If Bitcoin is truly better and will surpass gold, it will prove itself over time. There is no need for forced claims or comparisons.

[betswift]

In reality, digital gold is just a label people attach to Bitcoin, it is not digital gold. Bitcoin is Bitcoin, and Satoshi created it as an alternative, one that could coexist with the traditional financial and asset system. It neither competes with nor replaces anyone. Therefore, there is no need to continue comparing them and trying to prove which one is superior to the other.

The gap between Bitcoin and gold is enormous, and that gap cannot be narrowed simply by comparative articles and claims that Bitcoin is better. If Bitcoin is truly better and will surpass gold, it will prove itself over time. There is no need for forced claims or comparisons.

Agreed, people love to tag something they don't know with something they do, and BTC is no exception.

I would rather say that BTC already won over the gold in the minds of the people, and that's what truly matters.

[purple_sparkles]

It’s impossible to say that one is better than the other bitcoin and gold are two completely different types of investments. Gold is more stable and tangible by nature, it doesn’t have the same level of volatility as bitcoin, and that stability is its main advantage. Bitcoin, on the other hand, is much more convenient to use it’s easy to buy, sell, and exchange, and there’s no need to even leave your home to do so. These two assets are fundamentally different, but in sensible and thoughtful hands, both can ultimately bring profit to their owner.

[davis196]

Bitcoin and Gold are very valuable assets and doing pretty good in the assets class but soon the world would realise that Bitcoin has the potential of being a better asset, infact Bitcoin is digital Gold since it's scarce and can also be used as a store of value, and i think it's prepared for security challenges including the potential quantum hacks in the future.
 With that being said, who else has seen the debate between CZ (Binance founder) and Peter Schiff  who's a Gold marketer and Bitcoin critics? I came across a short clip of their debate, where CZ gave Schiff a Gold bar he got from a prominent person from Turkistan and asked if he could tell if it's a real Gold or not but all Schiff could do was laugh and say " I don't know" while stammering. That says it all and what i learnt from that debate is that you can be sold fake Gold but you can't fake Bitcoin or sell fake Bitcoin to someone.

I like the "fake gold" argument, but nowadays most people and companies don't buy actual gold. They buy gold certificates. The price of gold is more important than having real gold. The same applies to Bitcoin, since most crypto traders care more about the Bitcoin price rather than having to deal with buying cold wallets and HODLing actual Bitcoins. Bitcoin futures trading is a thing. Bitcoin ETFs are also a thing. The financial derivatives dominate the financial markets and have higher trading volume than the actual financial assets.
I'm pretty sure that the next year will be bullish for gold and bearish for Bitcoin, but in the long term, Bitcoin will outperform gold, just like it did in the last 4 years.