Peter Schiff shared: Bitcoin is merely a collectible digital token. But one Bitcoin is just an arbitrary quantity of #Satoshi. With 2.1 quadrillion Sats and 8 billion people in the world, there’s enough Sats for each one to own 262,500. Since each Sat is identical, a Satoshi collection is worthless!

Community Response:  How many nanograms of gold can each person have?

Irrelevant comparison. #Gold is needed for specific purposes, and specific quantities are required. So if you need an ounce of gold to do a certain job, a gram isn’t enough. But no one needs Sats.  If you are just collecting them, it doesn’t matter how many you have.

Gold isn’t needed for anything.

With bitcoin, these prices are the best time to buy. For a long-term asset investment and the obvious eventual replacement of gold, bitcoin will build a wealthy generation.

There is no long-term for Bitcoin and it will never replace gold.  How can it be worthless when you accept bitcoin as payment for gold?

You are wrong. You trade your bitcoin into dollars and then it buys the gold. You’re going through Bitpay or something like that. That is NOT accepting bitcoin. Accepting Bitcoin would be taking it directly for the gold.

Look at Grandpa Peter. The unequal distribution of gold makes people in poorer countries poorer, and the mining environment requires extremely intense labour. Also, mercury and by-products from the mining process are bad for the natural ecosystem and human environment.

There are now many alternative conductors in the industry that conduct better than gold. Gold is now nothing more than a decoration that destroys the environment filled with human greed.

Along with your praise for gold, your love for gold will go down in history. In particular, you will remain a representative of the last humans to glorify gold.

Comes down to the perception of value. 1 ounce of gold is worth a lot of dollars, but not when people are starving. Then an old box of mac and cheese is worth more than gold. This was a free lesson.

A dollar is merely a collectible physical token. But one dollar is just an arbitrary quantity of pennies. With 3.68 quadrillion pennies and 8 billion people in the world, there are enough pennies for each one to own 460,000. Since each penny is identical, a Penny is worthless!

In other words, you can’t take that bitcoin and buy stuff with it. True. Now, if you take your gold to the grocery store, will they allow you to exchange it for groceries? Or will they ask for dollars?

Well seeing as mostly boomers buy gold, and newer generations buy more crypto, it seems he will run out of customers after boomers eventually die off, and crypto will take over in adoption over time. Gold use will be just a material for making things, such as concrete.

I’m in crypto. I also buy gold and silver. You should look up how many countries are buying metric tons of gold.

Should take some of that math skill you’re using and try to calculate how much money you’ve lost your shareholders by not investing a 5% portion in bitcoin.

He is doing it backdoor style to get more bitcoin than anyone knows about… if he were to publicly go for bitcoin, the price would skyrocket and be harder for him to buy.

The fact that there may only be 0.0026% of a bitcoin available per person in the world is legitimately the reason you should sell all your gold for it.

I don’t think he has any gold. Just Ponzi gold stocks. Peter what % of your portfolio is actual gold? Eg. Gold that is custodial by a third party for you in a bank or other location. Paper gold doesn’t count.

A collectible token that Intel is putting billions into. As are some of the smartest billionaire investors and CEOs. As are Ivy League schools, cities, and now countries. Quite a collectible! Bitcoin