RE: Is Peter Schiff Against Bitcoin Because He Is A Globalist Insider Shill?

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Is Peter Schiff Against Bitcoin Because He Is A Globalist Insider Shill?

in bitcoin •  7 years ago 

-Peter Schiff is wrong on bitcoin (somewhat)
-there is 0 reasons to call him a globalist shill

Bitcoin is obviously not backed by anything, so this is where Schiff is right; therefore he understands it as a paper currency, which it is.

Exception: It is not a centralized currency. It can not be inflated by the stroke of a pen. Governments can not buy Bitcoin and pay for it by an IOU that they then hand to themselves and never pay that.
Neither can anybody else.
So it is obviously NOT a fiat currency.

This soundy like an oxymoron: A currency being paper money and not fiat money at the same time.
This is what Schiff does not get; yet. Neither did i for a long time.

There is no reason to blame him for anything.
He critizises bitcoin because it depends on people actually accepting payment in bitcoin. The same is true for the Dollar, the Euro and the Yen.
Heck, the same is true for gold.
The moment we see regular dealers accepting bitcoin he will change his mind.

I guaran-damn-tee you.

bitcoin
7 years ago by

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      ·  7 years ago 

    I can't see how anyone could call someone who backs gold/silver backed currency a "globalist shill". Unless I missed the change, I thought the globalists wanted central banks and fiat money in every country. This is obviously the opposite of what Schiff is supporting.

    So, the question is, when Visa/MasterCard gets their own cryptocoin working and everyone starts accepting that over BitCoin, will it crash BitCoin and all the rest?

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      1 vote
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        ·  7 years ago 

      good question. i don't know.
      i did not know they were planning to start their own cryptocoin either.

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        [-]
          ·  7 years ago 

        I tried to find the article, but only found the Monaco Visa.
        I probably should try a little harder to find it. Maybe it was an article about hiring programmers to do the crypto programming.

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          [-]
            ·  7 years ago 

          What is gold backed up with? Its just a metal currecny.

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            [-]
              ·  7 years ago 

            do less drugs, bro.
            gold is

            1. always limited in availability
            2. always high in demand
            3. does not change its appearance (does not rust, does not wither, does not get less shiny)

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              [-]
                ·  7 years ago 

              You forgot to answer my question bro! = ) No need to get angry just because you cant answer.

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                [-]
                  ·  7 years ago 

                i don't answer wrong questions.

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