If you haven't seen it, here's the video.
My takeaway is this:
It seems like these two are arguing over which is a better vacation; ski trip or beach getaway. They're both vacations.
Both Gold & Silver as well as cryptocurrency are an exit to fiat currency.
What are your thoughts?
Peter says a lot of smart things. Not sure why he's being so hard headed about the blockchain.
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Agreed. I think ultimately he wants people to agree with his rational. But it's my opinion that you can have Peter's rational and it not take away or impede on what bitcoin is. Likewise, I don't think bitcoin's involvement in the monetary system or as a competing asset class to protect yourself from fiat currency takes away from gold.
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I love Peter, but he is dead wrong on this front. It's clear he doesn't understand the underlying technology that is blockchain. I couldn't help but laugh when he tried to say he does understand.
It's a disruptive technology, the value of which is incalcuable and will be eventually realized. He's just looking at crypto's as currency and isn't seeing the underlying value of the technology that is behind it nor all the different ways that it's going to manifest in our society.
If I didn't understand the technology, I'd probably have the same opinion!
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Exactly. Hopefully Peter isn't too stubborn to look into it. Then I hope he realizes Gold&Silver isn't in direct competition with cryptocurrencies but instead they're both in competition with government issued fiat currencies.
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Yep, Gold & Silver are the great tangible assets but digital currency's have a lot of pros that gold can't hang with like ease of use, ease of storage, portability, liquidity, security, and more. There's a lot of value there in the currency aspect of crytpo that Peter isn't acknowledging let alone the actual underlying technology.
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Gold is harder to carry.
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My thoughts exactly. It's much more difficult to move gold and silver around from place to place safely. Crypto-currencies don't need to be physically transported when you change location.
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