Fear Bitcoin, Buy Gold from me

[aoluain]

He's still at it!

Interview posted about an hour ago > https://www.youtube.com/watch?v=05HE5Xg7b3o

Peter Schiff: Economic Armageddon - Bonds & Dollar in Crisis


Schiff Quotes:

35:00 -
I have conbceded at times that the Bitcoin price could go up because people are dumb enough to
buy it...But I have never seen any real value in it

35:35
Most people who own Bitcoin are losing money

35:44
The only people ahead in Bitcoin are those who bought it a long time ago, but they are in a minority.
The majority of people have come in in the the last 4 or 5 years


Where are his facts?
He seems to know so much about investing in Bitcoin, but a quick search reveals he is factually incorrect
on the last of his posts posted above.

Google searches

Key Price Points in 2021
Start of Year (Jan 1): $29,389
Spring High (April 15): $63,264
Summer Low (July): Around $29,800 to $32,000
All-Time High (Nov : $67,549
End of Year (Dec 31): $46,203

2022 Price Breakdown
Highest Price: $47,737 on January 1, 2022
Lowest Price: About $15,599 to $15,760 in November 2022
Average Price: $28,198 for the year

The interview really leads up to:

40:08

. . . the people who heeded them, bought Gold and Silver and have the gains to show for them,
and its not too late to buy because the prices are ^probably going to keep going up....
So you should go to shiffgold . com and buy some Gold and Silver - right now!


I do have to say that I found it interesting about his commentry on all the other points he makes
about the state of the US economy.

[SilverCryptoBullet]

He's still at it!

Interview posted about an hour ago > https://www.youtube.com/watch?v=05HE5Xg7b3o

Peter Schiff: Economic Armageddon - Bonds & Dollar in Crisis

I do have to say that I found it interesting about his commentry on all the other points he makes
about the state of the US economy.

He has talked non sense about gold outperforms Bitcoin.

He failed with this challenge from Changpeng Zao.
CZ passes Peter Schiff a Gold Bar: Is it a real gold or not?

With me, this short video and answer from Peter Schiff is enough to make him failed in attempt to shill gold against Bitcoin. With Bitcoin, there is no need to assess it is a real bitcoin by any third party company.

[BluebloodCXVI]

If Schiff says that the only people ahead in bitcoin are those that bought it a long time ago and that the majority of holders only entered during the last 4–5 years, then he should probably bring evidences to back up that claim, if not I’ll just take it that he is simply voicing his own opinions and not factual circumstances.

Bitcoin has obviously had plenty of buyers at different prices during the period of 4-5 years that he mentioned.

Someone that bought bitcoin in 2022 or at various points in 2023–24 is in a completely different position from a person who bought near the 2021 ATH so you can’t just establish that the majority of holders are underwater simply by saying most people are recent buyers.

That’s exactly the part i’d like to see evidence for.

Schiff often makes plenty of arguments about the dollar, bonds and the US economy that are worth listening to, even though we might not agree with his conclusions, but that doesn’t mean his Bitcoin claims should get a free pass.

And considering the fact that the interview eventually led to a pitch for people to buy gold and silver from his company SchiffGold, I’d be even more interested in seeing the actual evidence behind his claims about Bitcoin holders.
Skepticism should apply in both directions IMO.

[Ruttoshi]

You wouldn't blame him, it's clear that Schiff is jealous about bitcoin growth and how people have trusted it so much as a store of value in future. This is why he's saying all these to discourage people from investing into bitcoin but he forgot that the government did worse that this and they later came back to call bitcoin a good investment.

Overtime, people who invested in bitcoin profit will outsmart those who invested in gold. I want Schiff to take all these rubbish during the next bull run. He will go quiet. Even those who bought bitcoin at the last ATH of 2021 is still in profit. He is more after the dollar value of bitcoin and forget that if you don't sell, you are not at loss because 1btc = 1btc.

[Upgrade00]

It is funny he said 'that is not bitcoin' as a response on how stable coins have been useful to circumvent sanctions by some countries, when it is the blueprint that every crypto uses and can perform those purposes better.

I went to watch the whole video to listen if anything of value was said and it was just blind fud with no analysis. Arguments like this should not be platformed by bitcoiners. He is selling hysteria to try and get people to panic which will work for some non holders who were already too stuck to the traditional financial system to change to anything else but this will not matter to bitcoin investors.
You cannot argue with someone who isn't listening or is being disingenuous.

[tabas]

35:35
Most people who own Bitcoin are losing money

35:44
The only people ahead in Bitcoin are those who bought it a long time ago, but they are in a minority.
The majority of people have come in in the the last 4 or 5 years

We know that these are pure lies and jealousy from him. Even those people who got in just recently will be able to profit when it bounces back above $100k. Let's say that there are people who are currently in paper loss due to the wrong timing that they have bought on peak times. But he can't deny those who have bought at the right time and with that admission those who bought 4-5 years ago are in profit. Well, the media know who to interview when they want to get clout from the community and make such fights and arguments about bitcoin vs. gold.

[Ambatman]

I really don't have any issue with Gold and believe it isn't bad to add to one's portfolio
But that's where we aligned
He should at least get a life aside trying to paint Bitcoin bad
Because majority don't or won't listen when the numbers says otherwise.
His criticism on Bitcoin is already boring
He should at least spice things up.

[KingsDen]

I really don't have any issue with Gold and believe it isn't bad to add to one's portfolio
But that's where we aligned
He should at least get a life aside trying to paint Bitcoin bad
Because majority don't or won't listen when the numbers says otherwise.
His criticism on Bitcoin is already boring
He should at least spice things up.

Hey man!

Think it this way;
Gold has been in existence for ages while bitcoin is not upto 2 decades;

If someone is constantly shilling gold against bitcoin, it simply means bitcoin is a great contender as an asset and should be embraced now it's not even upto a century.

[buwaytress]

Well if you bought it 5 years ago you still made a bit, depending on price, and if most people did so then most people are still in a good place. Four years ago? You'd be in 200% territory now even if you bought at the highest point in 2022.. How is that not good? Gold did great but nowhere near this performance!

Oh wait, Schiff. Why am I taking him seriously?

[bitbollo]

He was not having changed mind about btc-value/vs gold performance?
Well, I am always looking on his declarations because he tries to give some explanations about gold / overperforming btc.
Anyway, I have seen as childish, in the same time this continue deny of the value of bitcoin and its economy. Probably it's just a way to troll the community and obtain some visibility.

[bitmover]

I do have to say that I found it interesting about his commentry on all the other points he makes
about the state of the US economy.

Schiff is very intelligent and has made brilliant analysis over the last few years.

He is recommending people to buy gold since it was in 1700 range (4400 now)

I think he is wrong on his bitcoin analysis. But we dont have to agree on him about everything

[hd49728]

Schiff is very intelligent and has made brilliant analysis over the last few years.

He is recommending people to buy gold since it was in 1700 range (4400 now)

I think he is wrong on his bitcoin analysis. But we dont have to agree on him about everything

He is smart and has a successful business with products are correlated with gold, and he has gotten a lot of profit from it. All of his sayings against Bitcoin, to attack Bitcoin, to make it lower in value and future vision are only for main purpose of shilling gold.

Peter Schiff is smart, and clearly know what he has been doing, and he will not stop his favorite investment asset: gold, as well as will never stop saying that gold is better than bitcoin. He has freedom to do that while we have our freedom to research and double check about fact, what he said, what the fact is, and we will easily realize that Bitcoin is better than gold in most years.

https://www.visualcapitalist.com/bitcoin-returns-vs-major-asset-classes/
https://www.visualcapitalist.com/sp/ft01-bitcoin-returns/

[Cookdata]

I'm not sure why this behavior of Gold investors thinks they have opinions to rubbish Bitcoin with some silly statements that are not facts, it's disrespectful everyday and I think its high time the same energy is return. You hardly see Bitcoin community talk down on Gold even if it remain one of the slowest asset with return in the last decade, Bitcoin has done many times better and nobody is even doing comparisons bruh, but these guys just say whatever they like.

We shouldn't blame them though, it was Trump that manipulated the market for them and luckily they made 2x, but I kid you not, people that bought Gold last year will have to wait in the next 10 years before they probably going to make a new all time high, by then Bitcoin would be in the next third bull run trading in 6 figures and perhaps Gold will be fighting with 10k, that is if the economies are better.

[Faisal2202]

He has talked non sense about gold outperforms Bitcoin.

With me, this short video and answer from Peter Schiff is enough to make him failed in attempt to shill gold against Bitcoin. With Bitcoin, there is no need to assess it is a real bitcoin by any third party company.

Saying Gold has outperformed BTC is nonsense, makes no sense to me, so brother, that's not the problem. The problem is he thinks BTC does not possess any real value haha, he thinks it is nothing. But the surprising thing that I enjoy is that when someone like him has to come out every time and has to explain that BTC is nothing in front of gold haha, that really makes me believe why this guy is so obsessed with gold and why so much against BTC?

Would he react the same way if there were a comparison of Gold and ETH? No, because there is real competition and he knows that.

[Moreno233]

This interview is not the worth the time of any Bitcoiner because we have seen trolls like him many times. Most of them even swallow their words when Bitcoin surprise them by creating new ATH when they are spreading their FUD. The only people that will take his opinion to heart are those who never had interest in Bitcoin.

If those bought Bitcoin a long time ago are the only people in profits, has he forgotten that those who bought in 2023, just three years ago are also in good profits. Bitcoin is just getting started, a lot if them will be disappointed in the near future.

[retreat]

Fighting this old man is never-ending because he will continue to come up with various narratives to corner Bitcoin and say that it is a worthless asset and that people who invest their money in it are simply stupid. We shouldn't be surprised by what he says, because he will stick to his guns and say that Bitcoin is a scam.

Even with all the evidence that Bitcoin has continued to grow and gain wider adoption over the years, and even major investment firms and governments have accepted Bitcoin, he still refuses to believe that Bitcoin has any value.

I think we should already be able to judge what kind of person this old man is - he is nothing more than someone who wants to gain attention by discrediting Bitcoin.

[ZAINmalik75]

If Schiff says that the only people ahead in bitcoin are those that bought it a long time ago and that the majority of holders only entered during the last 4–5 years, then he should probably bring evidences to back up that claim, if not I’ll just take it that he is simply voicing his own opinions and not factual circumstances.

A lot of people, including him, who occasionally spread FUD and false narratives about Bitcoin and cryptocurrencies are sure that they are not going to be taken to court to prove their claims and things they keep saying, which is why they barely care about facts and realities and will just say whatever they want as long as it somehow benefits them, or at least they think it does. He talks negative about Bitcoin to promote his website where he sells Gold and Silver so that people can buy from him which is beneficial for him and that's what he cares about.

He often talks about how most people are at a loss for investing in Bitcoin, which is false because only those who bought above the current price are currently at loss, and he also forgets that when a new all-time high is hit, every single person who has previously invested in Bitcoin reaches breakeven, and after that, the new price will give them pure profits, and this has happened multiple times, and will happen in the future as well. So as I said, they don't talk about facts or present facts about what they talk, we should ignore such people.

[Bit-Mj1014]

It really doesn't have to be a battle. Both people that invest in gold and Bitcoiners are ultimately looking for the same thing, a way to protect their hard earned savings from inflation and a messy global economy.
Schiff treats it like a zero sum game, probably because he runs a gold business, but the reality is that different assets serve different people.

Gold is great for preserving wealth you've already made, while Bitcoin offers a chance at growth for a younger generation trying to build wealth from scratch. Instead of fighting over which one is better, it’s much more helpful to see how they can complement each other in a portfolio.

[Mrbluntzy]

I am following Mr. Schiff on X, I do read a lot of his post and the way he rains attack on Bitcoin just to speak about Gold makes me feel like he is just doing it for fun, I mean he so much derive joy to speak against Bitcoin and it's not something that any Bitcoiner should take very seriously. There's no Bitcoiner that talks against gold because they want to promote Bitcoin, we don't need all that, but some of these people like Mr. Schiff feels that how dear Bitcoin, an asset that doesn't exist in a physical form but yet hold so much value and is challenging their favorite real world asset, look like that's the problem they have with Bitcoin.