[2014-05-21] Euro Pacific Precious Metal Selects BitPay

[_smudger_]

http://www.businesswire.com/news/home/20140521005817/en/Euro-Pacific-Precious-Metal-Selects-BitPay#.U3yuedJdWxQ

"BitPay is attracting merchants who are selling low-priced goods where credit card fees are expensive and high-ticket items such as gold and silver where there’s chargebacks are common and costly. The ability for merchants to accept bitcoins makes these transactions irreversible and for the buyer the risk of fraud and identity theft is eliminated."

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[yayayo]

That's significant news! Peter Schiff is a well known character in the Gold/Silver-marketplace.

His company generates significant sales on a global level.

ya.ya.yo!

[howardb]

That's significant news! Peter Schiff is a well known character in the Gold/Silver-marketplace.

His company generates significant sales on a global level.

ya.ya.yo!

I agree, being able to go back and forth between precious metals and bitcoin rather than touch fiat is going to be very attractive going forward.

[bryant.coleman]

We already have one reliable bullion dealer who accepts Bitcoin as a mode of payment (Agora Commodities). And if I am not wrong, Euro Pacific Precious Metal becomes the second major bullion dealer to accept crypto.

[bitbouillion]

Wow, this is really huge. Peter Schiff is not only an investor, but an advocate for sound money and a strong critic of current budget and monetary policies. He was one of a few who predicted the housing crash back in 2006. Schiff ran for Senate in 2010. And not to forget, he is a outspoken gold bug, but one who seems to understand the value of bitcoin.

http://en.wikipedia.org/wiki/Peter_Schiff

His appearances as commentator is legendary (compilation):
http://www.youtube.com/watch?v=sgRGBNekFIw

[Bitcopia]

Ahahaha this is awesome. 6 months ago, Peter Schiff was all over the internet talking about how Bitcoin is a catastrophic bubble, has no intrinsic value, and won't work as money.

Here are a couple examples of his frustratingly ignorant discussions about Bitcoin during that time frame:

http://youtu.be/0L7SOPDOvvI

http://www.prisonplanet.com/bitcoin-vs-gold-the-future-of-money-peter-schiff-debates-stefan-molyneux.html

https://www.youtube.com/watch?v=Q3MAH3Rlr2s

Now he's accepting Bitcoin  

I'll take this as a major victory for Bitcoin.

[howardb]

Ahahaha this is awesome. 6 months ago, Peter Schiff was all over the internet talking about how Bitcoin is a catastrophic bubble, has no intrinsic value, and won't work as money.

Here are a couple examples of his frustratingly ignorant discussions about Bitcoin during that time frame:

http://youtu.be/0L7SOPDOvvI

http://www.prisonplanet.com/bitcoin-vs-gold-the-future-of-money-peter-schiff-debates-stefan-molyneux.html

https://www.youtube.com/watch?v=Q3MAH3Rlr2s

Now he's accepting Bitcoin  

I'll take this as a major victory for Bitcoin.

I suspect Bitcoin is to him, what ebay is to most of us, we all hate it, but if you can still make money using it, you do.

[Bitcopia]

Ahahaha this is awesome. 6 months ago, Peter Schiff was all over the internet talking about how Bitcoin is a catastrophic bubble, has no intrinsic value, and won't work as money.

Here are a couple examples of his frustratingly ignorant discussions about Bitcoin during that time frame:

http://youtu.be/0L7SOPDOvvI

http://www.prisonplanet.com/bitcoin-vs-gold-the-future-of-money-peter-schiff-debates-stefan-molyneux.html

https://www.youtube.com/watch?v=Q3MAH3Rlr2s

Now he's accepting Bitcoin  

I'll take this as a major victory for Bitcoin.

I suspect Bitcoin is to him, what ebay is to most of us, we all hate it, but if you can still make money using it, you do.

I don't hate eBay, and I certainly have the intelligence to appreciate its value before publicly making false and ignorant claims about it. If you spend time watching those videos, you can feel the emotion in his sentiment. Emotion is the killer of rational thought.

[bitbouillion]

Ahahaha this is awesome. 6 months ago, Peter Schiff was all over the internet talking about how Bitcoin is a catastrophic bubble, has no intrinsic value, and won't work as money.

Correction: He seems to understand the value of bitcoin now.

Even a Peter Schiff is not perfect.

That the long tradition and culture of gold is a unique feature is a valid argument, but on the other side the instant transferability of bitcoin peer to peer over decentralized communication networks is a unique feature too.

All his other arguments are invalidated now by accepting bitcoins himself.

[minimalB]

Ahahaha this is awesome. 6 months ago, Peter Schiff was all over the internet talking about how Bitcoin is a catastrophic bubble, has no intrinsic value, and won't work as money.

+1

This is funny indeed. : ))))))))))))

I'm gonna lose a bet though, I thought Peter will need 3-5 more years to "get it".

[BTCat]

This is huge.

[BTCat]

Gold standard vs Fiat vs Bitcoin

https://www.youtube.com/watch?v=a7GJb0kufQI

[yayayo]

Ahahaha this is awesome. 6 months ago, Peter Schiff was all over the internet talking about how Bitcoin is a catastrophic bubble, has no intrinsic value, and won't work as money.
...

I'll take this as a major victory for Bitcoin.

I didn't know that. That makes the news even more significant. Now that Schiff has been converted from a bitcoin hater to a bitcoin user one may ask: Will other goldbugs follow?

As money, Bitcoin and gold share similar properties. So it's a win-win to enable trade between them.

ya.ya.yo!

[bryant.coleman]

Ahahaha this is awesome. 6 months ago, Peter Schiff was all over the internet talking about how Bitcoin is a catastrophic bubble, has no intrinsic value, and won't work as money.

It is just a sign of things to come. We are are still in the early adopter category. Once we get people like Peter Schiff on our side, the rate of adoption will accelerate by many times.

[thezerg]

awesome!  He's hedging his personal reputation here which is the first step to conversion.  If BTC fails he'll just say "I only used it as a payment network".  If BTC succeeds, he'll say I started supporting Bitcoin May 2013... we'lll probably see cautiously positive statements from him in 3-6 months (depending on the progress of the price).

[seriouscoin]

Peter is a tool. The dumbass only follow profits and nothing else. Vision? what vision....

His prediction is just like throwing a dart. Hit and miss.