If Bitcoin (BTC) is a Risk asset Why Own it at all Real Risk is Inflation

Peter Schiff Shared: Now that geopolitical risks have abated, investors are selling safe-haven assets like gold, and buying very risky assets like Bitcoin. But if Bitcoin is a risk asset why own it at all, when other risk assets have actual value? Plus the real risk is inflation, so gold is a buy!

Community Response:  Gold is good, but BTC is a good haven for situations like this. Probably, best BTC ad ever

Peter Schiff: I wish I bought Bitcoin. Behind every pathology lies a deep-seated trauma.

Seems like a nice guy. At least, he was honest. Makes me wonder then what his motive is. Without his critique of bitcoin, he wouldn’t get any attention.

Folks see gold as old, tried, and tested. Bitcoin is new and exciting, much like hip hop even if what you say about Bitcoin is try, folks still want to taste and see the romance with Bitcoin and decide for themselves. Bitcoin is kind of sort of like a new boyfriend, girlfriend.

Look at the bright side, if you wait another 10 years, GOLD may have another day when it goes up 2%!

But it’s true? Peter shills Gold and slates Bitcoin all the time, but Gold hasn’t even kept up with inflation? Where’s the logic.

Peer 1:  My father bought some gold in January 2016. I don’t hear him complain.

Peer 2:  He did well buying the bottom to be fair. If he had bought in 2012, he would only be 4% up. 

And if he bought BTC on 11 Nov 21, he would be down 35%. IF is a wide-ranging statement and can be used to fit any perspective.

Just hold bitcoin for 10 years then speak about the comparison. Bitcoin has been eating gold’s shares these past 10 years. Here’s what happened to gold. It didn’t go sideways for 10 years. Hard money had a massive breakout. It’s just 85% of that capital flow goes to Bitcoin now.

Peter, Bitcoin is Gold 2.0 Why do you hate that so much? They have the same basic principles: Finite and store of value.

Fortunately for the majority of you, all worldwar2 is just something you heard or read about. I remember buying bread with my coupons and a golden tooth. So for insurance reasons having some gold and silver bullions on the side gives me peace of mind. Let’s hope we never use it.

A large percentage of Bitcoin buyers are buying to get rich quickly but over time the percentage of people buying to hold it for what it truly is will exponentially grow. Being a new asset, it will be volatile of course, but that will decrease over time.

Nope! It’s not worth anything; crypto is similar to fiat. Nothing but debt. It’s not money. Money always has an intrinsic value with another utility.

What if the intrinsic value of bitcoin was native internet money? With a finite supply? A decentralized monetary system? And censorship resistant? Enabling a system where you’re your bank?

For me, all of the above are part of Bitcoin’s intrinsic values. Gold has none of them.

You never really own gold, the same way you never really own ‘your’ money. A tyrannical state could always take it away from you. Any state today could become tyrannical tomorrow–look at Canada! Fall out of favor with the govt, and they freeze your assets except for bitcoin.

Gold doesn’t have any actual value, since you allow people to buy it with bitcoin on your website.

So if you as a gold bug lived in Canada, and the government decided to declare you a “domestic terrorist” and confiscate your gold in the name of “freedom”, what would you be able to do to stop them? Bitcoin fixes this.

It is kind of simple. Gold is outdated and not easily stored or transferable. New generations evolve towards more effective and efficient forms of storing and transferring decentralized value. The actual risk is sitting on fiat-related instruments like Gold.