RE: Crypto lovers hate the petro dollar cause it is fiat and backed by nothing. But they love digits on a wire. Who owns the wire? https://www.youtube.com/watch?v=ccDjhdqZ5yI

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Crypto lovers hate the petro dollar cause it is fiat and backed by nothing. But they love digits on a wire. Who owns the wire? https://www.youtube.com/watch?v=ccDjhdqZ5yI

in same •  7 years ago 

Peter Schiff is mistaken when he says Bitcoin is no different to a digital form of fiat currency. Scarcity is certainly an essential component that gives gold its value; the same is true for bitcoin, except bitcoin also has privacy and transaction speed advantages.

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7 years ago by

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