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Peter Schiff shared: Oil has broken out as its price tops 106 dollars. It’s clear sailing up to 140 dollars. Gold is likely next. Once the price tops 1,950 dollars I think it will blast through 2,000 dollars to hit a new record high. It also looks like the dead-cat bounce in money-losing stocks and Bitcoin is over!
Community Response:
The cat that represents GOLD exhausted its 9 lives 10 years ago and here you are continuing to beat a dead horse.
He’s getting excited about his inflation-busting 2.5% gains. He has been waiting for 10 years for this. So let him have some fun.
Like two years ago I wanted to buy Gold for around 500k dollars. The process of buying was so annoying with brokers, depo & delivery that I just re-invested in BTC.
With Gold, I would earn 100k dollars while investing in BTC made me over 1million of net profit alone. BTC > Gold. Always.
I had to wait 7 days to get a +30% on Bitcoin and you had to wait 2 years to get +30% on Gold I had to wait for an avg. 0.017% of my life for it You had to wait for an avg. 2.10% of your life for it I know you cannot handle volatility. Older people cannot handle rollercoasters either.
Peter serious question, because I know you are an intelligent man, But you think gold is the only way? The returns haven’t been all that great, yes it’s a store of value but to turn 1000 dollars into maybe 1200 dollars in 10 years isn’t a good ROI. What other way do you suggest besides gold?
How many people have lost money listening to you exactly? Fossils need to know their place in this world, and being in Charge and giving advice is not that place.
Most people who have bought bitcoin are down. Also, missing a move to the upside doesn’t mean you lose money. Educate yourself, friend.
If gold takes a month to break 2k and get a +5% monthly candle, you’ll be dancing and shouting from the rooftops you were right. Bitcoin just did more than double that move. Yesterday.
It’s precisely this huge volatility that makes Bitcoin such a useless “asset”.
How much gold did you send to help Ukraine Peter? And by what means should the gold be sent? With a carrier pigeon? Bitcoin solves this problem!
“Blast through 2,000 dollars” I wouldn’t consider 50 dollars pump a blast. It’s taken the gold over 200 years to get to that price, bitcoin can pump 2,000 dollars in less than a minute.
You are wrong, I have been warned about JUMPIN BTC FLASH since Jan 26, 2022! It’s just a start & will continue next decades.
Gold can be counterfeited. Bitcoin cannot. Gold can be confiscated. Bitcoin cannot. Gold is unlimited. Bitcoin is not. Gold has storage limitations. Bitcoin does not. Gold mining wastes energy. Bitcoin mining modifies energy. What else have you got?
* Can’t use it to buy anything * can’t send it over the internet * can’t sell it without a massive commission and full AML/KYC * can’t keep up with inflation * can’t validate it at transaction time with any certainty. * Can’t subdivide it to sub-dollar values as it gets below the margin of practical measuring error. * Can’t program it or attach L2 mechanics on top of it. The time has come to pass the torch from gold to Bitcoin Pete.
You keep saying these things and all you do is cash out the bitcoin into the resource that you degrade and attack so much, the US dollar or other fiat currencies.
The #bitcoin dead cat bounce is about to play out? Or you are saying it’s over, like invalidated.
You’re waiting for a 50 dollars move in Gold and call Bitcoin 20% move a dead cat bounce.
