Peter Schiff makes few good points here.
Bitcoin is not money it's a fiat currency.
Bitcoin could be replaced by another competitor.
Most merchant that accept Bitcoin immediately convert it into paper money.
Peter is always going to pick gold over anything else on the market. I don't blame him for it because Gold has been money for 5,000 years and it's naive to think it won't be money for the next 5,000 years. However Bitcoin is an excellent replacement for the central bank controlled paper money system and it's a good way to stick it to these bankers and invest your money into Bitcoin instead of their systems.
If I had to choose just one I'd pick Gold because of the history and it's easily recognized as money all around the world.
Diversification is my strategy. I have Bitcoin and gold as well as silver to diversify my portfolio.
Steem on,
Mike
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There is some intrinsic value to bitcoin due to cost of production: power, network bandwidth, hardware. But in an apocalyptic moment gold always wins. Make sure you have some gold sovereign coins, not a paper claim.
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