Peter schiff BTFOs /biz/

[Anonymous No.26394401]

You scammers try to get people to believe bitcoin is rare because there's "only" 21 million

But in fact there are 21 QUADRILLION satoshis. That isn't scarce at all.

[Anonymous No.26394434]

>>26394401
My descendants will be Sat billionaires

[Anonymous No.26394442]

A dollar is a hundred pennies. The dollar is worthless

[Anonymous No.26394468]

>>26394401
Lol.
The gold is also not scarce, I guess, there are 10^30 or so atoms.

[Anonymous No.26394479]

>>26394401
That's, uh, that's not FUD.

[Anonymous No.26394483]

>>26394401
sounds like someone shilling to divert retards to gold to me, enjoy those heavy ass rock filled bags

[Anonymous No.26394505]

>peter schiff is raising awareness of satoshis

imagine believing this is FUD. normies will start to realise they arent prices out

[Anonymous No.26394516]

>>26394468
Yes but gold is actually used for things and has real value

If you divide something with 0 value then you just have smaller parts with 0 value

[Anonymous No.26394524]

>>26394401
He’s just shitposting at this point

[Anonymous No.26394534]

>>26394401
peter shut the fuck up you already tried to make this thread today and it was archived after 5 replies

[Anonymous No.26394535]

they are already assembling atoms in labs, when they can literally print gold at some point who gives a shit about dug up shine shine

[Anonymous No.26394577]

>>26394516
>gold is actually used for things
The real value of gold is probably x2-x3 of copper. It has nothing to do with the current price or with how it is actually used.

[Anonymous No.26394609]

>>26394534

I know you want me to stop me from spreading awareness about your ponzi scheme, but i wont rest until it all comes tumbling down

if I can save just one person from losing their livelihood to the bitcon ponzi, it will have been worth it

[Anonymous No.26394754]

>>26394609

[Anonymous No.26394759]

>>26394609
You have to go back

[Anonymous No.26394782]

>>26394401
You're an idiot or this is bait

[Anonymous No.26394831]

>>26394401
Based satoshi

[Anonymous No.26394883]

https://nypost.com/2018/12/28/scientists-figure-out-how-to-make-gold-from-cheap-copper/

peter btfo, gold to be worthless 2030 kek

[Anonymous No.26394963]

>>26394609
ay yer a cheeky mate ill give you that, gave me a giggle, good one

[Anonymous No.26394980]

>>26394401
>Peter Schiff
>BTFO
This geezer has been wrong about literally everything. He has only BTFO himself at every turn.

[Anonymous No.26394983]

>>26394401
It costs like 6000 sats just to send a txn, so it is considerably scarcer than he is implying

[Anonymous No.26395044]

yo gold is like what? 10^12^12 atoms of something? This guy is a master troll, his whole social media presence would collapse if he gives up his narrative. I dont know if he is retarded or kinda smart. He obv. understands btc but plays the antagonist for some obscure reason.

[Anonymous No.26395087]

my satoshi stock been doin some

[Anonymous No.26395090]

>>26394782

How am I an idiot ? Bitcoiners try to convince everyone that their asset is rare because there's only 21 million of them... but they won't simply admit that there's actually 21 quadrillion. What are you guys trying to hide? Worried that people won't buy into your ponzi if they knew the truth?

[Anonymous No.26395177]

>>26394401
someone post that boomer how many gold atoms are in a single ounce of gold!!

[Anonymous No.26395340]

I also hold a whole gold molecule

[Anonymous No.26395420]

>>26394401
Can anyone explain why this useless metal is considered precious? That's the biggest scam in human history.

[Anonymous No.26395432]

I'm a btc bull but this is a good thought from Peter, I hate to say that. He's right

[Anonymous No.26395693]

>>26394442
It is

[Anonymous No.26395714]

>>26394577

Gold is actually used in computers (magic rocks that make the internet possible). Copper? No, Sir.

[Anonymous No.26395786]

>>26395432
you usually hear this line of reasoning from 60yo housewives.

[Anonymous No.26395821]

>>26394468
one sat has as much use as one bitcoin, one ounce of gold can be used to make many more computer components, pieces of jewlery etc than 1 gram of gold can

[Anonymous No.26395847]

>>26395786

you can use ad-homminem all you like but it doesnt change the fact that bitcoin is a ponzi operating on the greater fool theory

[Anonymous No.26395966]

>>26395847
well it's an objective fact that bitcoin is not a ponzi so that alone makes you pretty fucking stupid.
ponzi is a confidence scam. a custodial high yield security scam.

bitcoin is the opposite. new shares are not created for new members they have to buy the shares of the old investors at which point the old investors lose their yield. there is no trusted party no custodial relationship and no confidence.

[Anonymous No.26396025]

>>26394401
He only fights this hard because he sells gold and worked his whole life for gold as a store of big value.
BTC obviously replaces gold, because it's limited, has cachet, but is easier to transfer and store.

>BTC doesn't have any intrinsic value!
Neither does the US Dollar.
The dollar is backed by confidence.
What do you have more confidence in, the US government in the 21st century or a flawless computer code?
Every argument against BTC for being "based on nothing" can be turned around and used against the dollar.
Currency is currency and to that extent the value is intrinsic anyway.

[/biz/_AntiSpamBot No.26396057]

>>26394401
Peter Schiff is mad because he will never make it.

[Anonymous No.26396080]

>>26395966
people buy bitcoin because they have the belief that the price will go up, and they can sell it for more than they bought it for. since it has no use and no value, there's no reason for the price to go up, except when new buyers are duped into raising the price. If people didn't believe that the price of bitcoin would go up, then no one would buy it. The scheme only continues as long as more and more people are tricked into believing the price will go up. Eventually you will run out of people to trick, hopefully sooner rather than later.

[Anonymous No.26396211]

>>26396080
in bitcoins entire history there was only 20 days where someone who bought is not in profit here.

let that sink in... in bitcoin the only ones that lose money are the weak hands and panicking tards. no one else.

[Anonymous No.26396221]

>>26395821
>>26395090
delusional.
Fine.
The price of 10^8 satoshis is $32.4k right now. I'm pretty sure this doesn't make you happy.

[Anonymous No.26396224]

>>26395847
So like every investment vehicle ever right?

[Anonymous No.26396250]

how fat is his bag

[Anonymous No.26396282]

>>26394401
We have no idea how much gold exists in the universe but we know exactly how many Sats there ever will be.

[Anonymous No.26396284]

>>26396224
not really bitcoin is special because the only fools are those that sell at loss.

[Anonymous No.26396303]

>>26394505
Based take.

[Anonymous No.26396314]

>>26394516
Explain silver then.

[Anonymous No.26396322]

>>26396282
actually you have no idea how many sats there will be because the developers can just sit down one day and decide to change the code

[Anonymous No.26396325]

>>26395714
There is more than enough gold for industrial needs. If there wasn't, you wouldn't have twenty coin shops filled with precious metals in every city.

[Anonymous No.26396374]

>>26395420
It was Bitcoin before the internet.

[Anonymous No.26396388]

>>26394516
The value of Bitcoin is the original protocol itself. If Ethereum came out before Bitcoin, Bitcoin would be worth 0.

[Anonymous No.26396392]

>>26395821
Explain silver then.

[Anonymous No.26396414]

the acquiring of any amount of bitcoin above 0 is an achievment of greed, that you learn you must gain more above more than 1 only if the price is characteristic to do so. this is an analogy to anyone who was ever dealt with low satoshi coins, as low as 1, whereas long as you believe the usecase is there you are greedy to have as much as you can buy

[Anonymous No.26396425]

>>26396080
As opposed to the dollar which steadily loses value.

[Anonymous No.26396464]

>>26396322
In which case it's a new blockchain.

[Anonymous No.26396502]

>>26394401
>The virgin kike versus the Chad Nigger
HAHAHAHAHAHA

[Anonymous No.26396521]

>>26394401
What a fucking retard.

[Anonymous No.26396557]

>>26394442
he'd agree with you

[Anonymous No.26396563]

>>26396025
No he posts about bitcoin constantly because it gets him good engagement numbers on twitter. That's it, full stop. He's just doing it for attention, which drives his business of selling gold to people who don't trust fiat and are looking for any way out. If people just ignored him or spammed him with stale memes he'd stop posting about bitcoin pretty quickly.

[Anonymous No.26396713]

anyone else know peter is right but don't allude to it often because you hold btc medium-short term gains ?

[Anonymous No.26396765]

>>26394401
based schiff holy shit he never runs out of arguments unreal
that's such a salient point never heard it before
literally changed my view on bitcoin scarcity argument in 144 characters or less not even kidding

[Anonymous No.26396804]

>>26394516
>gold is actually used for things
give me an example sir on use-cases that are what give gold its value

[Anonymous No.26396813]

>>26396322
stupid.
no users or miners will agree to the change and literally nothing will happen

[Anonymous No.26396821]

>>26394535
>atoms arranged to make gold
Do you even know what atoms are brainlet? Is this your average Bitcoiner?

[Anonymous No.26396839]

Schiff has been calling BTC a scam for what... 7 years now? Lol bitter af boomer trying to cope cause he's too much of a manchild to admit he was wrong in the past.

[Anonymous No.26396851]

>>26396322
rofl

[Anonymous No.26396934]

>>26396322
Wrong. The majority of the miners in the network have to decide to run that new code, they aren't going to run something that devalues their interests. Good job exposing your poor understanding of bitcoin though!

[Anonymous No.26396969]

>>26394535
Making elements by shooting other elements with protons is not new tech. Also it's incredibly expensive, slow, and leaves you with radioactive gold

[Anonymous No.26396975]

>>26396934

Just because something is unlikely to happen, does not mean that it never will.

If one day a majority of the bitcoin stakeholders decided they wanted to change the cap, they could do it, and you would have no power to stop them.

[Anonymous No.26397027]

>>26395044
sorry i'm just picking on you, but 50% of the people engaged in this argument say the same thing as you but dont understand it is refuted by knowing you have more use from a larger amount of gold because its a commodity. what is appalling is the people who engage in a bystander effect and see more people taking one side, and they join in with a shitty argument, in hopes of being supported by all the other bystanders, that shitty argument is yours but you are padded from the majority so your confirmation bias is real

[Anonymous No.26397065]

>>26394401
if that tweet is real then peter is fudding hard and holds a HUGE bag of BTC

[Anonymous No.26397115]

>>26396975
Lmao "stakeholders" aka people who simply own bitcoin have no say. Only the miners decide what protocol the network is running. Why would they decide to run a version that destroys their wealth? Even if "stakeholders" had a choice- which they don't- again, why would they choose to destroy their own wealth? You're too retarded to understand game theory and simple incentives?

[Anonymous No.26397132]

>>26397027
exactly. One satoshi is theoretically as valuable as one bitcoin because they both do the same thing : nothing. One ounce of gold is obviously more valuable than one atom of gold because you can't produce products for human use with one atom of gold.

Remember this next time someone tries to sell you the lie that 21 quadrillion satoshis are "scarce".

[Anonymous No.26397179]

>>26395420
its not precious, its price reflects what is the demand and supply. same way that houses downtown are supplied versus demand

[Anonymous No.26397217]

>>26396080
this, the hype went from 10k, 20k, 50k, 200k, and 1mil, at some point im just waiting for some to speculate it at 1 tri. its like no one knows about mining bitcoin anymore but only understands you just buy it and that its.

[Anonymous No.26397218]

>>26397179
*it is precious

[Anonymous No.26397260]

>>26396975
there would be a chain split and value would go with the scarce chain

[Anonymous No.26397265]

I find it rather interesting that the various bullion dealers take bitcoin for physical coins. They doubtless convert it to usd immediately or don't even take it at all but use a 3rd party but still it's weird to see them so really take it like it's real money.

[Anonymous No.26397315]

>>26394609
>the double spacing
really helps drive it home kek

[Anonymous No.26397375]

>>26397265
would you find it interesting that companies pander to sjw's? i personally find it disturbing, but its to play by the customers ears, and compete, and accepting bitcoin will gain you more customers. doubt its the aforementioned of what i said though. but yes you gain customers to your store that werent there before because of the bitcoin acceptance

[Anonymous No.26397377]

>>26397132
>exactly. One satoshi is theoretically as valuable as one bitcoin because they both do the same thing : nothing.
You can't even transfer one satoshi because of the transaction fee. Bitcoin costs money to mine and it costs money for miners to verify transactions. Mining 1 bitcoin takes 100 million times the amount of electricity as 1 satoshi, therefore 1 bitcoin is always 100 million times more valuable than 1 satoshi.

[Anonymous No.26397415]

A bitcoin is now worth over 30k a pop and there are still people debating whether it's "like real money".

Further evidence there is room to grow yet. Once everybody has accepted it, that's when you get out.

[Anonymous No.26397485]

>>26397415

>Bitcoin is valuable because the price is high

Hahah, ohh wow. I guess a tulip being more valuable than a house made sense as well ?

[Anonymous No.26397491]

>>26394609
You do realize if you've convinced anybody in the past to not buy (anywhere below 32k), what you've actually done is caused them to miss out on making money, right? So noble!

[Anonymous No.26397503]

>>26395044
He’s got a stack and FUDS it for fun. He’s that meme of the Bull wearing a Bobo mask.

[Anonymous No.26397537]

>>26397491

I can't advise people on exactly when the bubble will pop. The only thing I know is that one day it WILL pop. You can try to profit before that happens, but never forget that you're just gambling on something with no scarcity and no value.

[Anonymous No.26397552]

>>26397377
>Labor theory of value
Lmao

[Anonymous No.26397560]

>>26397485
You know what's crazy, the tulips only came down so hard because the big traders conspired with the government to invalidate contracts. Fucked up shit.

[Anonymous No.26397632]

>>26397537
Whatever helps you cope. In the meantime people are getting rich while you play chicken little. I'm sure you thought when it crashed back to the 2-4k range after 2017 you thought the bubble had popped, right?

[Anonymous No.26397650]

>>26396025
you run yourself in circles there, currency isnt valuabe but money is, and currency is nt money. bitcoin was made in the goal of fiat but simply put a fail safe that cant print more than is needed, to stop inflation. the code isnt flawless

[Anonymous No.26397658]

>>26397537
So why not set stop losses in case the bubble pops and ride the wave upwards instead of being a pussy?

[Anonymous No.26397682]

>>26397552
You're right, it's the market that's wrong

[Anonymous No.26397700]

>>26397658
Because they're retarded. "Oh no this asset isn't guaranteed to appreciate indefinitely (what asset is?), I better not try to make money off of it!"

[Anonymous No.26397707]

>>26396804
Jewelry is literally half the demand for gold. You think a woman give a shit about what the spot price of gold is the day she gets a necklace? No, she just want that shiny metal worth big dollars. Unless female psychology changes then that demand isnt going away.

[Anonymous No.26397737]

>>26394401
Okay so by following the same logic
>Gold bars are finite
>But smaller pieces of gold bars are a quintillion more than that
>Actually, if you infinitesimally keep diving them, you get infinite gold
>Holy shit gold for everyone!
>Why does it even have a price?

[Anonymous No.26397747]

>>26397658

Why not go to the casino roulette table and wager your net worth on a single spin ?

[Anonymous No.26397761]

>>26396282
sats are infinite. bitcoin is limited at a 21 million supply but that doesnt make it scarce

[Anonymous No.26397782]

>>26397737

Having more gold is functionally different than having more satoshis. Having one satoshi does the same thing as having a hundred million satoshis (nothing).

[Anonymous No.26397796]

>>26397747
That's the worst fucking analogy I've ever heard. Buying crypto/stock isn't going to liquidate you in 2 seconds; you can get out when you want.
Why not use your rationale for any other type of investment?

[Anonymous No.26397809]

>>26397747
Why not make more retarded false equivalencies that expose your ignorance?

[Anonymous No.26397862]

>>26397796
>Why not use your rationale for any other type of investment?

Other investments actually have uses, or they entitle you to an ownership portion of a productive business. Bitcoin has no use and as soon as people stop believing in it, the value will vanish.

[Anonymous No.26397889]

>>26394401
Is he being ironic? This is so fucking retarded holy shit.

[Anonymous No.26397891]

>>26396765
we are all sentient beings and everyone who has the right to vote knows the answer to every argument down to the simplest. based we are all too smart, we should never have to revist anything aslong as 1 person is confident to move on

[Anonymous No.26397909]

>>26396975
Yes bitcoin holders will totally support more inflation. You are fucking deluded
>>26397132
have fun sending 1 satoshi to someone. You literally can't when tx fees are in the hundreds to thousands of satoshis.
>>26397747
If i go to a casino and everyone is winning, then hell yea I would play there
>>26397862
what is gold used for. Only 16% of all mined gold is used industrially, the rest goes to speculation.

[Anonymous No.26397913]

>>26397747

[Anonymous No.26397958]

>>26394401
Smashes an oz of gold into a million pieces, no hard feelings kid

[Anonymous No.26397964]

>>26396804
gold has value, gold also has usecases. if the usecases were small then the supply would be larger than demand and price would be smaller than where it was today

[Anonymous No.26398021]

>>26397964
Only 1/6 of all gold mined is used industrially. The rest goes to speculation.

[Anonymous No.26398076]

>>26398021
what do you want me to do about it?

[Anonymous No.26398144]

>>26396969
thats why aslong as it exists through word of mouth then people will always check the authenticity of what they have. humans would have to create an exact universal replica

[Anonymous No.26398149]

Anyone who thinks that 2.1 quadrillion is going to be enough for the future economies is out of their minds and hasn't understood the past 20 years or studied the history of computing.

That being said, I like Peter Schiff.

[Cannibal and sons No.26398171]

>>26394609
Peter, have you ever ripped into the fatty organ meat of a young girl and you look over and your two sons are right there, tearing flesh like dad. So proud.

[Anonymous No.26398202]

>>26395821
>muh gold usecases
kek fuck off gold mite

[Anonymous No.26398226]

>>26397115
losing miners before they head out the door have an incentive to change consensus

[Anonymous No.26398274]

>>26397862
>or they entitle you to an ownership portion
except this "ownership portion" is meaningless for 99.9% of stock holders. any non-dividend earning stock should be as much of a ponzi scheme to you as bitcoin.
PS, investing in the first real decentralized blockchain currency is 10000x more useful and prestigious than buying shares of energy_company_#36462.

[Anonymous No.26398303]

>>26394609
Peter if that's you, you should really incorporate the synthetic demand for USD via the petrodollar in propping up markets. come on man. your fund isn't doing that well.

US is just another shill country for the real rulers and we know they control money. how do you know the US wont maintain legacy status via its currency for a long time, look at London City, it still does a shitload of business even tho greater UK is a husk of its former "glory".

seriously, your takes are very one-dimensional. let go of the crypto thing, your words will have no impact if you pursue this route. bubble brains are deaf.

[Anonymous No.26398308]

>>26398226
Why would the winning miners let that happen?

[Anonymous No.26398342]

>>26398274

People actually need the services of the energy company to live their lives. No one needs bitcoin for anything except to profit by pawning it off to a greater fool.

[Anonymous No.26398367]

>>26394468
This. Gold can be divided into even smaller pieces than bitcoin therefore it is even less scarce according to his logic.

[Anonymous No.26398382]

>>26397491
the saying, is, invest in crypto not bitcoin

[Anonymous No.26398397]

>>26398149
Idiot. Any amount of currency is sufficient for an economy of any size, given that the currency is infinitely divisible. Bitcoin fulfills this function perfectly.

[Anonymous No.26398402]

>>26394516
Gold is less valuable than trust and less valuable than data. Two things that blockchaintech are all about.

[Anonymous No.26398449]

>>26398342
except stock price has nothing to do with reality. it's just an arbitrary valued attached to a virtual share. you are buying it to sell it at a higher price to another fool.

[Anonymous No.26398489]

>>26398308
everyone wants to be a winner until they are not, also miners get rid of their coins almost as soon as they get them i presume, they arent at risk of ruining anything they hold but their future income. if miners are anxious about their future income they can change consensus and all the holders would have to pay, otherwise the miner has nothing to lose if he holds nothing, or better yet can find another coin to successfully mine

[Anonymous No.26398686]

>>26398489
If the miners try adding inflation, no one will use their fork so they'll just be mining worthless coins. You need to get users and miners onboard. Also miners can't really mine other coins, BCH and BSV are the only coins that support sha256 and those are pretty much worthless.

[Anonymous No.26399017]

>>26398686
the demand for bitcoin is a bit inorganic that even if we proposed to print 1 extra bitcoin a year people would give up on it. to me it shows the coin has no use. if it was useful then predictable inflation wouldnt be much of a problem. but the problem is that bitcoin isnt fungible like monero. bitcoin should solve its scalability, decentralization, and fungibility. but that would possibly require changing the sacred cow of the whitepaper

[Anonymous No.26399028]

>>26394401
except ppl want a bitcoin, not a fraction lmfao