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- Price of gold rose
- BTC Back Below 42,000 dollars
- BTC has become anti-gold
- Buying Bitcoin means short gold with maximum loss
- Community reacts
Peter Schiff shared: 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%.
Community Response: This is a good moment for your gold narrative. The problem for you is compare the 2 assets over the past 10 years.
The past 10 years are irrelevant. I’m referring to what’s happening now. This is gold’s time to shine. Bitcoin had its day, and its candle is about to blow out.
I analyzed gold’s performance during prior inflationary cycles & here’s what I was able to find out. Quickly, let’s define a bull market as the production of higher highs & higher lows over time.
Peter, do you believe something that is purely intellectual property can have intrinsic value? Eg: Beatles music catalog. If so, then do you believe something that is purely digital could have intrinsic value as well?
Yes, but Bitcoin is nothing like music. You can’t sing along to it, and you can’t dance to it.
Peter at the end of the day $42,000 is much higher than 1,900 dollars so you have a long way to go.
I don’t see banks buying bitcoin. Banks have been hoarding gold last couple of years. I wonder why.
Hahaha and there are 3 million hackers out there, they can all steal your Bitcoin but none can still your gold.
95% of all gold has been seized what are you talking about. No one has EVER hacked the bitcoin network itself. Only exchanges.
I too love cherry-picking timeframes. Good lord man, I like your videos, but GLD has been in a consolidation for years. It’s going to run. The chances of it falling at this time are slim to none.
And Bitcoin continues to be a 0 sum game.
You do understand that gold thrives because of a potential war. There is nothing to be proud of Peter. We are supporting new tech and how it could help people and nations. You promote a piece of metal that goes up when people and nations are fighting each other – well done.
Gold is just an obsolete version of bitcoin collateralized by a commodity valued far above its industrial value. Physical gold is a gift and you are trying to find a sucker to buy it at a premium compared to what you could sell it back for.
Gold was 1100 dollars in 2011 Bitcoin was 10 dollars in 2011 Stop fooling people here. Who gained most in 11 years is there to be seen. If you close your eyes and declare Sun does not exist is not going to change reality. Be honest and real instead of liar and fake.
I quote: “People still fixated on Bitcoin are living in the past. Gold is the future.” I laugh. JUMPIN’ BTC FLASH THEORY. The price of Bitcoin continues to SOAR TO INFINITY due to: – 90% of BTC owner is GOLDEN HANDS.
Massive adoption (banks, big firms, institutions & even countries) create HYPERBITCOINIZATION.
Don’t make the mistake of thinking that buying Bitcoin below 3,800 dollars is a bargain just because the current price is better than 80% below its record high. Bitcoin’s price could easily drop another 80% from here, and at 750 dollars it would still be expensive!
It looks like bitcoin has had its day. The median investment in the US is only 1000 dollars in other words a fun punt on the side. Unregulated gambling. Retail has been burnt and many other options have presented themselves. Not a word from Plan B. Aren’t we supposed to be 180k dollars now.
Bitcoin isn’t digital gold. It is just a Ponzi scene SCAM.
Peter, what’s your opinion on Ethereum? I can understand your views on Bitcoin and respect that. But Ethereum is robbing people in hefty fees as a tax even before buying it. Very few people are calling it ‘ultrasound money’. Is it ultra sound or being ridiculed?
