Bitcoin (BTC) Does not Have to Exist Physically to have Intrinsic Value

Peter Schiff shared: People still fixated on Bitcoin are living in the past. Gold is the future. The last ten years are irrelevant to what will happen over the next. This is gold’s time to shine. Bitcoin’s candle will soon blow out. Bitcoin HODLers who fail to grasp the change will lose everything!

Community Response:  Gold pumping Peter Schiff is ready to wage war against bitcoin this coming week.

Peter Schiff, you’re making yourself irrelevant by refusing to understand the tech. Bitcoin in its original version has full utility.

Exchanges colluded to give it the ticker symbol does not change the fact that BTC Core forked away by introducing SegWit and deviated from the Bitcoin White paper and is no longer the Bitcoin that Satoshi created.

The key point is that it doesn’t have to physically exist to have intrinsic value which you have agreed to. If BTC can be provably scarce, decentralized, easily transmitted, and used as a unit of account, then it serves some useful function, thus it has some intrinsic value, yes?

The original version of Bitcoin as designed by Satoshi Nakamoto threatened the very existence of the traditional financial establishment and bitcoin has since been crippled by Block stream, a company owned by the Digital Currency Group (DCG) and backed by the MasterCard cabal.

People still fixated on Gold are living in the past. Bitcoin is the future. The last ten years are relevant to what will happen over the next. This is Bitcoin’s time to shine. Gold’s candle will soon blow out. Goldbugs who fail to grasp the change will lose everything!

Peter is very euphoric right now. This is typically a good sign for BTC.

Deputy PM Chrystia Freeland: “The names of both individuals and entities as well as crypto wallets have been shared by the RCMP with financial institutions and accounts have been frozen and more accounts will be frozen.”

Double top on the monthly and double top in the daily. Bitcoin crash?

The price of gold just rose above 1,900 dollars for the first time in eight months. Meanwhile, Bitcoin is back below 42,000 dollars. What was promoted as digital gold has become the anti-gold. A bet on Bitcoin is a bet against gold. It’s like being short gold but with a maximum loss of 100%.

Peter, doesn’t your wallet get heavy carrying around gold bars to pay for stuff? This is why I prefer bitcoin.

Yeah, just tens of millions of citizens under an authoritarian regime and double-digit inflation in many countries around the world. “Very few” though. Where do you live? Soon, you’ll likely need bitcoin!

Never seen anywhere in my life that accepts Bitcoin as payment.  The problem with gold is it requires the trust of men to not remove the gold from us.  bitcoin only requires trust in math.  Math can’t cheat you men can.  Bitcoin is the future.

Government can turn off your dollars, confiscate your gold and you still don’t see the power of bitcoin. Lol, ok.

It is one thing to write a law, but if it isn’t enforced or is just ignored, eventually capitulation. Like when gold was confiscated, those who knew its value found ways to keep it.

Government can ban all crypto in a blink – as they did in China & India – and you still don’t see the power of gold. Lol, ok.

Who says BTC is banned in India? 30% tax has been imposed.

RBI proposal for the ban is with govt. Russia too is considering a ban. China has banned it. Most sovereign nations know the risks independent alternatives to their currency pose. Far too many millennials don’t see money launderers, scamsters, terror groups encashing on cryptos.

Crypto is now sort of a religion whose believers might be in for a very rude awakening.

I believe in bitcoin. I hold way more bitcoin than anything else. That being said, if you’re right, how would I lose everything? Quit being hyperbolic!