Fear Bitcoin, Buy Gold from me

[Alpha Marine]

He has always been wrong. So many times he has been wrong, but he would never admit that he is wrong. He has been echoing the same things since I knew him, and that the same old "bitcoin has no value", "people who buy bitcoin are dumb", "only the few early adopters have made profit from bitcoin"
He says all these in the same breath that he asks people to buy gold. Gold has not performed better than bitcoin since the inception of bitcoin, but he would never admit that.
If he was talking about gold being the better store of value and has lesser risks, then I might argue with him, but when he talks about profit, even he knows he's getting it wrong.
He says the majority of people who bought bitcoin 5 years ago are not in profit, but the price of bitcoin 5 years ago was around 45k, which means they are in profit right now.

[taufik123]

lmao, he just wants to manipulate the minds of people who give up with their bitcoins.
Not with those who still continue to hold on to bitcoin and make a profit from every increase that occurs or the ATH that Bitcoin continues to print.

Schiff Quotes:
35:35
Most people who own Bitcoin are losing money

I think he was just talking without looking at the facts that happened, how the people who own Bitcoin also benefit more.
Those who suffer losses are those who do not understand and do not understand how Bitcoin should be treated, this cannot be a valid fact,
because most people know how to invest and trade in Bitcoin to get huge profits at the moment.

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!

Peter Schiff Influencing other people or the retail market to sell their Bitcoin and buy gold and silver on his site,
this is bad marketing, because it has to drop the name of Bitcoin first to get new customers.

[noorman0]

I don't know if this is just my feeling: The public display of hatred for bitcoin by figures is not because they don't want it or don't have it, but they avoid things that can take away some of their bitcoins.

But really, Peter Schiff is a stubborn idealist. Bitcoin haters are now increasingly in the minority.

[Hamza2424]

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?

I was curious to know the exact comparison between the profit of gold and BTC if bought 5 years ago today. 5 years ago today, gold would have made us +143% and BTC would have made us 68.9%.

But your four year duration math is good, we would have definitely made more than 250% because on September 12th, 2022, Bitcoin was at $19,400.

Oh wait, haha yes, we should not worry about him, he must be a holder, I am sure. I heard his son is.

[iBaba]

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.

He clearly believes that gold is the best store of value and I can see that most of his arguments come from that perspective, I understand the idea of looking only the price of dollar could make you miss the bigger picture sometimes. Someone who bought bitcoin years ago and has no plan to sell during a temporary drop might not be worried about every price drop. But I would not say nobody can be at loss just because 1BTC is still 1BTC, If you bought $100k and bitcoin is now $60k your bitcoin amount has not changed, but your dollar value has definitely dropped.

For me the interesting part is seeing whether bitcoin can continue proving itself over the next 10 to20 years. If the adoption of bitcoin keeps growing, that is when the gold vs bitcoin debate will become even more interesting I guess.

[pooya87]

What he has always done has been an advertising campaign and what he says about bitcoin should purely be seen as part of that campaign. To me it makes no sense that he sees bitcoin as a competitor to gold thinking that if people invest in bitcoin, they won't invest in gold so he tries to prevent them from doing so in order to get them into gold.

By name-dropping bitcoin, it is also a way of getting his company advertised for free in bitcoin circles! Since many of these American oligarchs believe that "There is no such thing as bad publicity"!

[BlackBoss_]

What he has always done has been an advertising campaign and what he says about bitcoin should purely be seen as part of that campaign. To me it makes no sense that he sees bitcoin as a competitor to gold thinking that if people invest in bitcoin, they won't invest in gold so he tries to prevent them from doing so in order to get them into gold.

By name-dropping bitcoin, it is also a way of getting his company advertised for free in bitcoin circles! Since many of these American oligarchs believe that "There is no such thing as bad publicity"!

He does his job but I see his advertisement for gold is like a free marketing for Bitcoin. Gold investors will listen to Peter Schiff, watch his interview videos, read articles about his speech, and they will know about Bitcoin. Not everyone, but people with critical thinking mindset will be exposed to Bitcoin by Peter Schiff and sooner or later they will do their own research about Bitcoin.

Through research, it's easily to realize that Peter Schiff is wrong about Bitcoin, and some gold investors will see better potential of Bitcoin, and shuffle part of their investment capital from gold to Bitcoin. Gold market is bigger than Bitcoin market so part of capital from gold market migrates to Bitcoin market will be massive.

[r_victory]

I certainly wish I had gotten into Bitcoin earlier, from the beginning, but if the historical appreciation continues, those who enter now will also have an advantage. Those who entered four or five years ago, as mentioned by the interviewee, also have an advantage compared to those entering now. What was said makes absolutely no sense. It's just a hater being a hater, that's all...

[Josefjix]

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

He is saying this because he doesn't know how the future works with Bitcoin, if Bitcoin was invented in 2009, how old is it today, it's 17 years old today.

If the same maths is applied in 17 years ahead, and Bitcoin reaches $1m, could you also mean that those who purchase Bitcoin now is lucky? If yes, then your analysis and answer is based on quick thought that needs to be elaborated.

[Alphakilo]

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

He is saying this because he doesn't know how the future works with Bitcoin, if Bitcoin was invented in 2009, how old is it today, it's 17 years old today.

If the same maths is applied in 17 years ahead, and Bitcoin reaches $1m, could you also mean that those who purchase Bitcoin now is lucky? If yes, then your analysis and answer is based on quick thought that needs to be elaborated.

I just read the post and had a good laugh because Peter Schiff has long been vocal about his opinion and he never fails to criticize fiat inflation risks, sovereign debt expansion, federal reserve policy all within the U.S because that's where he understands.

He fails to give Bitcoin the credit it deserves for its structural performance so far, he fails to acknowledge how Bitcoin has helped other economies outside the U.S over the decade and other successful things Bitcoin has helped to achieve as far as global monetary economics is concerned.

All he is doing is marketing for his gold business and if anyone fails to open their eyes to see this as so, then they are already in a state of fear and may lose out on any meaningful investments they already have as regards Bitcoin investment.

[tread93]

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.

That was such a gangster move by CZ lol. I also love that one of his friends just casually gave him a gold bar as well he mentioned that before he gave it to Schiff to examine. That completely stopped Schiff in his tracks and was pretty hilarious to say the least. Man I am going to have to go back and watch that interview again that was GOLD lol pun intended.

[X-ray]

. . . 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!

Fud bitcoin because he sees no value in it, then proceed to shill gold because it probably can go up while also arguably have less value because most gold are sitting on a storage and you can't even use it for remittance.

Like an old man yelling at cloud, I never consider his argument as make sense. Just empty argument and empty shill coming from Mr. Schiff.

What he has always done has been an advertising campaign and what he says about bitcoin should purely be seen as part of that campaign. To me it makes no sense that he sees bitcoin as a competitor to gold thinking that if people invest in bitcoin, they won't invest in gold so he tries to prevent them from doing so in order to get them into gold.

By name-dropping bitcoin, it is also a way of getting his company advertised for free in bitcoin circles! Since many of these American oligarchs believe that "There is no such thing as bad publicity"!

I genuinely believe that he's always talking about bitcoin and fud at it because it generates engagement. Even Mr. Schiff know the word Bitcoin is magic. Mention it and the engagement skyrocket.

[MarryWithBTC]

I certainly wish I had gotten into Bitcoin earlier, from the beginning, but if the historical appreciation continues, those who enter now will also have an advantage. Those who entered four or five years ago, as mentioned by the interviewee, also have an advantage compared to those entering now. What was said makes absolutely no sense. It's just a hater being a hater, that's all...

Every person wish they jumped in earlier, which is good, but not all OGs benefited from bitcoin. Some got BTC and used them for ponzi schemes, some gambled with theirs, some others took premature profits. So, literarily some OGs are living in regrets till date, not all are enjoying.

You know the feelings when you lose your position and to get in again, you'll keep procrastinating and speculating until you are not able to get in again, especially when you don't use DCA.

[yhiaali3]

Yes immediately, “So you should visit shiffgold.com and buy some gold and silver.” What a failed advertising man, promoting his site in a stupid way. What if I wanted to buy gold from another site? Would he be pleased? I see that this man constantly exposes himself to ridicule.

The worst thing in the interview is that this man mocks all those people who bought Bitcoin and describes them as stupid, and that the reason for the rise in Bitcoin is their stupidity and their continued purchase of Bitcoin. What about the major institutions and governments, are they stupid too?

[Don Pedro Dinero]

Yes immediately, “So you should visit shiffgold.com and buy some gold and silver.” What a failed advertising man, promoting his site in a stupid way. What if I wanted to buy gold from another site? Would he be pleased? I see that this man constantly exposes himself to ridicule.

The worst thing in the interview is that this man mocks all those people who bought Bitcoin and describes them as stupid, and that the reason for the rise in Bitcoin is their stupidity and their continued purchase of Bitcoin. What about the major institutions and governments, are they stupid too?

That's not the worst part. The worst part is that he's been doing the same thing since 2011 or so. I mean, just imagine how ridiculously embarrassing that was during the years when the price of Bitcoin rose the most. In recent years, gold has indeed appreciated relative to Bitcoin, but if we look at the previous decade, it loses by a landslide.

[jcojci]

Leaves him alone with his saying, he doesn't deserve for Bitcoin. If people follow the suggestion, that is up to them so we can't do anything. Maybe people see gold and silver still promising without seeing Bitcoin could be the next for the future so it is better we don't think about that and focus on our own. If I want to buy gold, I will visits my local store and buy directly. I can hide in secret from others just like I did with Bitcoin.

[SamReomo]

I have conbceded at times that the Bitcoin price could go up because people are dumb enough to

That guy is a skeptical person and nothing else, I remember the days when he said Bitcoin will never touch $100k and it not only touched $100k but crossed it and made its ATH that's over $125k not just $100k. That Peter Schiff knows nothing in depth about Bitcoin and he's more like a dumb fellow with worst judgement. I never trust him and I think anyone who follows him is going to regret when they see Bitcoin reaching and crossing not only $200k or $500k but $1 million and more.

[aoluain]

I really don't have any issue with Gold and believe it isn't bad to add to one's portfolio

I am not negative towards Gold either and I guess that a lot of Bitcoiners also have Gold in
whatever they deem as a portfolio.

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.

or that he deep down believes/realises that Bitcoin does actually have value but he cannot
say that in public because it goes against his business model

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.

I also believe so, I did mention that I found his points about the US economy interesting.

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

and he also gets to slate Bitcoin at every opportunity and because he is seen as this Gold tycoon
it can be seen that hs is an authority in all things Bitcoin, so everyone should listen to him.

[drangos]

I believe the more important question here isn't whether gold or Bitcoin did better, but how Schiff can have made the claim that the majority of Bitcoin owners are losing money. That will take more than the most recent price history data. There are also differences in Holder profitability when compared with the current price of Bitcoin, as they purchase it at various times and keep for years. He may have valid points about debt and the dollar, but it doesn't necessarily mean that's the same thing as Bitcoin. If he is making a quantitative statement, I would like to see the data supporting the statement, not just the conclusion.

[Rockstarguy]

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.

No need to even take the opinion of those who talk hate on Bitcoin seriously. They all know Bitcoin is a valuable asset, and ahead of every other asset, it is even possible they have a good amount of Bitcoin which they are holding. But they only need to talk bad about Bitcoin to market their own tokens and assets.

By discrediting Bitcoin, they understand it won’t have any effect on Bitcoin, but they are just doing it for their own selfish interests. Gone are the days when people should react to haters of Bitcoin because it means nothing to the adoption of Bitcoin or the value of Bitcoin, since people already understand it.