Very interesting points on Bitcoin by a great Economist

[arxwn]

This is all so confusing. Lets setup a Peter Schiff vs Andreas Antonopoulos debate and settle this bitcoin thingy once and for all.

. There are lots of valid points from his side nonotheless I think peter would agree that the market will settle this

[bitcoinforhelp]

Freedom allowing everyone say everything. Thats one example and his oppinion. Personally Got other opinion on bitcoin, for me its HUGE and will gain major role in payment market.

[boumalo]

This is all so confusing. Lets setup a Peter Schiff vs Andreas Antonopoulos debate and settle this bitcoin thingy once and for all.

. There are lots of valid points from his side nonotheless I think peter would agree that the market will settle this

He has a lot of valid points and he says a lot of bitcoiners are very emotional about Bitcoin thus don't judge it fairly but he is very emotional about Gold and don't judge Bitcoin fairly sometimes; he underestimate everything that comes from internet like Facebook; he needs to stop saying facebook has no value!!

[Diatoms]

 Peter Schiff is right. I wonder who will pay in the end. the developer? the bitcoiner? or the market?

[arxwn]

After carefully listening to Peter schiff you understand that his opinion rests on the assumption that btc has no use other than money.
That is not correct and his undestanding on several technologies is limited, however I still respect him as an economist.
On the other hand he is correct on competitors, after getting punched by some governments it could be replaced by a competitors who faces much less restrictions.

[CryptoCarmen]

On the other hand he is correct on competitors, after getting punched by some governments it could be replaced by a competitors who faces much less restrictions.

But that will not happen since bitcoin developers will kiss governments ass in anyway they can.

[arxwn]

On the other hand he is correct on competitors, after getting punched by some governments it could be replaced by a competitors who faces much less restrictions.

But that will not happen since bitcoin developers will kiss governments ass in anyway they can.

Kissing ass of government means more burden to the coin and to the services using it.
Bitcoin was supposed to be friction free money. Now if licences start appearing and hoops to be jumped that means friction.

[boumalo]

1:17:27 "there's not an exchange where you can borrow bitcoins and go short" the guy doesnt know what the fuck he's talking about

He made a mistake there but his points on not having enough shorts and stop orders being taken advantage of are still correct

On the other hand he is correct on competitors, after getting punched by some governments it could be replaced by a competitors who faces much less restrictions.

But that will not happen since bitcoin developers will kiss governments ass in anyway they can.

Kissing ass of government means more burden to the coin and to the services using it.
Bitcoin was supposed to be friction free money. Now if licences start appearing and hoops to be jumped that means friction.

Bitcoin will still have many qualities even if it is regulated and it will not be regulated from every country..

[CryptoCarmen]

On the other hand he is correct on competitors, after getting punched by some governments it could be replaced by a competitors who faces much less restrictions.

But that will not happen since bitcoin developers will kiss governments ass in anyway they can.

Kissing ass of government means more burden to the coin and to the services using it.
Bitcoin was supposed to be friction free money. Now if licences start appearing and hoops to be jumped that means friction.

supposed to was, but will not be. you will see that soon.

[jyakulis]

What's the volume of bitcoins roughly going to consumer goods vs. the volume from private investment (shorts longs etc.)?

Just curious if his idea that the adoption/usage is what is driving the price downwards. It seems somewhat logical and he is usually pretty good about understanding the underlying reasons for price moves. He's always been good at that. Other than that he, accused one group of being over emotional yet so was his attack. You want to talk about a hypothetical scenario. What he just said was the hypothetical to end all hypothetical scenarios.

Also hypocrisy much? I mean has he not been touting gold, foreign investment, hyperinflation for what 8-10 years now? He hasn't exactly hit a home run with gold over the past 4-5 years. Though, I suspect this will change.

[bornil267645]

Every one has their own say about Bitcoin... But none can deny the possibilities of the Bitcoin...

[jbreher]

He hasn't exactly hit a home run with gold over the past 4-5 years. Though, I suspect this will change.

Well, up 25% in that time is really nothing to sneeze at. Solid performance. You'd have to compare it to something like Bitcoin to have done much better.

And he's right - the vast money expansion that the FED has been causing is the only thing that has kept stocks and bonds in positive territory. When all that cash starts flowing back home, there'll be a bloodbath in the dollar's buying power, and gold will skyrocket in dollar terms, even if only holding its purchasing power.

[subSTRATA]

All the rest of what Peter Schiff says is good and he is warning everyone about the coming USD collapse, the real inflation not showed in official statistics, the fixing of the market by the FED, the dangers of Big Government, the hypocrite non racist organisations that are in fact racist and the never ending QE

Just like so many other salesmen, he is using the facts and plays on people sentiment to build credibility which is then used to sell stuff. It works with normal people because they
are usualy extremists - one is either always right or always wrong. Once normal people - herd - label someone as "such and such" the chance to change their opinion is very slim.

[boumalo]

All the rest of what Peter Schiff says is good and he is warning everyone about the coming USD collapse, the real inflation not showed in official statistics, the fixing of the market by the FED, the dangers of Big Government, the hypocrite non racist organisations that are in fact racist and the never ending QE

Just like so many other salesmen, he is using the facts and plays on people sentiment to build credibility which is then used to sell stuff. It works with normal people because they
are usualy extremists - one is either always right or always wrong. Once normal people - herd - label someone as "such and such" the chance to change their opinion is very slim.

He has been dead right on the DOTCOM bubble and the housing bubble, who else has this prediction record?

What's the volume of bitcoins roughly going to consumer goods vs. the volume from private investment (shorts longs etc.)?

Just curious if his idea that the adoption/usage is what is driving the price downwards. It seems somewhat logical and he is usually pretty good about understanding the underlying reasons for price moves. He's always been good at that. Other than that he, accused one group of being over emotional yet so was his attack. You want to talk about a hypothetical scenario. What he just said was the hypothetical to end all hypothetical scenarios.

Also hypocrisy much? I mean has he not been touting gold, foreign investment, hyperinflation for what 8-10 years now? He hasn't exactly hit a home run with gold over the past 4-5 years. Though, I suspect this will change.

Gold has been going up every single year for more than 10years expect last year! Even this year, Gold is up even with the very bad sentiment on Gold and all the price manipulation from the FED and the Wall Street banks
He is advocating buying Gold since it's 200$/once

[boumalo]

bump

[Velkro]

No matter what he says, in 2020 bitcoin will be huge when miners will stop creating new coins

[boumalo]

No matter what he says, in 2020 bitcoin will be huge when miners will stop creating new coins

367500   2   25.00   
420000   3   12.50 2017
472500   3   12.50   
525000   3   12.50   
577500   3   12.50   
630000   4   6.25   2021

Still a reward of 6.25 in 2021 according to some projections but 4times lower than now so 4times less new bitcoins in average

[newyorker91]

most of his statements are just negative and not worth to listen it.

[Keyara]

This is all so confusing. Lets setup a Peter Schiff vs Andreas Antonopoulos debate and settle this bitcoin thingy once and for all.

. There are lots of valid points from his side nonotheless I think peter would agree that the market will settle this

He has a lot of valid points and he says a lot of bitcoiners are very emotional about Bitcoin thus don't judge it fairly but he is very emotional about Gold and don't judge Bitcoin fairly sometimes; he underestimate everything that comes from internet like Facebook; he needs to stop saying facebook has no value!!

He just doesn't understand facebook isn't really an internet company. It is a giant marketing platform.

[bernard75]

No matter what he says, in 2020 bitcoin will be huge when miners will stop creating new coins

At the speed it recently went, it should take a bit longer.