DPS #2 | Peter Gets Butthurt Over Anti-Gold, Pro-Bitcoin #DropGold Grayscale Ad

in #deflatingpeterschiff4 years ago (edited)

Peter seems to have trouble when people mock gold as much as he mocks bitcoin. While, personally, I'm not a huge fan of stooping to Peter's level, and gold bashing, I do find it humorous. I also believe that the reason you see such ads from Grayscale is a direct response to the propaganda and mockery that Peter and many in the gold community put out.

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Remember this: there is a reason for both assets.

Gold is physical, it can never be digital, ever, never, ever, ever. So, any form of digital gold, while it does have it's use case, is subject to some counterparty risk. You have to trust a 3rd party, and in some newer cases the designs of smart contracts that peg the gold and control the ledger. While this is a much safer bet than trusting any government to back fiat paper currency with precious metals, there is still a barrier, because gold is not digital.

Bitcoin is digital, it can never be physical. You can create a physical paper wallet, many jump drives, key cards, credit cards, physical/digital coins or tokens, or any other physical representation of bitcoin, or any crypto. It serves it's purpose. But, like gold, bitcoin can never be physical. It's safest in its purest digital form. When you are dealing with physical representations of a cryptocurrency, you have some counterparty risk.

We need to realize who the true enemy is. Gold and Bitcoin go together. But you wouldn't know that when you see the things we see from both Peter Schiff and Grayscale. The one good thing about these people, are at least they lead to conversations and a chance to educate the masses. They do get the eyeballs on the gold and bitcoin products, which is great.

Now grow up. Don't get butthurt.

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Until next time, this is Deflating Peter Schiff!



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