Asking a Dinosaur
I still laugh a bit when people "seek out" wisdom from "guru investors" from a different era. And yes, please note the air quotes I'm using. I mean, yes, I do think they are knowledgeable in their field, and I respect them very much for their intellectual contributions, but why are we asking them what they think about Bitcoin? I simply don't understand the motives here.
Case in point: Peter Schiff
Full disclaimer I like Peter Schiff myself, and being someone who advocates for freedom, as he does, makes him an ally. But, we can't forget what his area of expertise is, and what he does for a living.
You see, Peter is a Gold Guy, he's a broker for god's sake, that is his thing. This means of course, that he would, and rationally so, defend the relevance of gold until the end of times. If one day gold would be dethroned, if you will, so would his business be destroyed.
To be fair, we all have our biases, and he's a fellow sapiens after all. But, asking him about BTC as if his blessing is something that BTC requires is just silly. "Hey Mr. Schiff, I wanna gamble my money on BTC, I can't think for myself, make the call for me" - Is that how this is playing out?.
At any rate, I think we need to stop attempting to impress the dinosaurs. The Buffets and Schiffs of the world. This is not me dissing them, they have won their place in history, this is just me putting their knowledge in context.
Unless somebody can make a compelling case to go back to a feudal time, all the while using the Internet as the loudspeaker, in a dance of ironic futility.
MenO
@meno a market is a market, but there is a slight difference between gold and crypto. Crypto is more closely related to fiat in that faith in the tech behind it gives it value.
Gold and precious metal have intrinsic value because of their long history as a monetary unit.
This does not change what you are saying but had to clarify. When you invest in anything you should always weigh what your advisors motivation is. Thanks for sharing!!
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I don’t know why you can’t have both Gold and BTC.........Steem😊
I also like Peter Schiff, I think he has some good advice.
My metals are an insurance policy, yes I want them to go up in value but I also know that crypto’s are the new frontier.
A wise man don’t put all his eggs on one basket.....
Now with Libracoin around the corner we probably will see our mass adoption that we all want, and I hope Steem and Pal are leading the way!
Gold is his business, but if he is smart he will see the potential of blockchain.
I once built a house, and I used a nail gun.
I had a helper tell me he could nail just as fast with a hammer, this is the head in the sand mentality!
Blockchain is here, it is real and it’s not going away!😊
:) How did he answer the 'where as with gold that wont happen' question?
something along the lines of gold has been valuable to us forever, and intrinsic value... not the best response.
lol, soo how is that any different from the stock market, FIAT, forex, gold, silver, collecting cards whatever. But see here is the kicker, it does not matter the only thing that matters is what someone is willing to take in exchange for something else. NOTHING has value until the time of the transaction.
You're money sitting in a bank does NOTHING for you it has not value it has a potential of value.
He’s heavily conditioned by his experiences while growing up in his profession. This reflects deep embedded fear of uncertainty and the attachment to his own comfort ideal! He meant well according to his system of beliefs and conditioning. Also his family experience and tragedy also played a huge r
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