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Bitcoin vs. Gold: The Future of Money - Peter Schiff Debates Stefan Molyneux

 
Chugiakian
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11/26/2013 12:21 AM
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Bitcoin vs. Gold: The Future of Money - Peter Schiff Debates Stefan Molyneux


[link to www.youtube.com (secure)]

Is bitcoin a bubble? Does gold have an intrinsic value? Is bitcoin a ponzi or pyramid scheme? Peter Schiff thinks so. Stefan Molyneux and Peter Schiff discuss Bitcoin vs. Gold and the future of money.
Chugiakian
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11/26/2013 12:25 AM
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Re: Bitcoin vs. Gold: The Future of Money - Peter Schiff Debates Stefan Molyneux


[link to www.youtube.com (secure)]

Is bitcoin a bubble? Does gold have an intrinsic value? Is bitcoin a ponzi or pyramid scheme? Peter Schiff thinks so. Stefan Molyneux and Peter Schiff discuss Bitcoin vs. Gold and the future of money.
 Quoting: Chugiakian


highly speculative

cost to buy, cost to sell,
people don't know what they are going to pay
Chugiakian
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11/26/2013 12:27 AM
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Re: Bitcoin vs. Gold: The Future of Money - Peter Schiff Debates Stefan Molyneux
What if big hong kong bank issued a digital currency that was backed by gold.
Chugiakian
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11/26/2013 12:31 AM
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Re: Bitcoin vs. Gold: The Future of Money - Peter Schiff Debates Stefan Molyneux
Are people who are cashing in bit coins, paying taxes on their gains? ooohhh, here comes guido, the killer IRS agent
Chugiakian
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11/26/2013 12:35 AM
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Re: Bitcoin vs. Gold: The Future of Money - Peter Schiff Debates Stefan Molyneux
if you accept a bit coin for your product, you still need to pay your labor, manufacturing costs, etc. You need to sell the bit coin to pay the overhead, so they need to be converted to cash.
Chugiakian
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11/26/2013 12:37 AM
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Re: Bitcoin vs. Gold: The Future of Money - Peter Schiff Debates Stefan Molyneux
Almost like a pyramid scheme. - Need more users to join in to buy the bit coin.

More and more digital currencies are being produced.
A lot of risk.
Chugiakian
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12/19/2013 10:59 PM
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Re: Bitcoin vs. Gold: The Future of Money - Peter Schiff Debates Stefan Molyneux
I can't believe Schiff gave this guy nearly an hour of his time, he is trashing it, leads me to think there might be something to bitcoin afterall. Schiff kept saying their is nothing backing bitcoin and the other fuck never came back and says there is nothing backing the dollar...
Anonymous Coward
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12/20/2013 01:42 PM
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Re: Bitcoin vs. Gold: The Future of Money - Peter Schiff Debates Stefan Molyneux
bumpity...
bump
Blades11

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12/20/2013 01:53 PM
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Re: Bitcoin vs. Gold: The Future of Money - Peter Schiff Debates Stefan Molyneux
I don't need to watch a video to know that Bitcoin is going to be huge soon.


[link to blogs.marketwatch.com]


“The virtue of a gold standard is that government officials cannot just create new money at the stroke of a pen. That’s the attraction of bitcoin,”


Bitcoin is digital gold except it's even better of a currency than gold.


We know the absolute limit of how much can exist.
It is much harder to steal.
Doesn't weigh you down.
Easily fragmented.
Easily traded worldwide.
Very low fees to trade.
Etc
Etc



Last Edited by Blades11 on 12/20/2013 01:58 PM
Anonymous Coward
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12/21/2013 10:55 AM
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Re: Bitcoin vs. Gold: The Future of Money - Peter Schiff Debates Stefan Molyneux
bsflag

Dogecoin is the future!
Anonymous Coward
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12/21/2013 11:12 AM
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Re: Bitcoin vs. Gold: The Future of Money - Peter Schiff Debates Stefan Molyneux
What backs bitcoin is its ability to be transferred safely anywhere to anyone for free instantly. That is its intrinsic value.





GLP