is he supposed to be like a famous economist or something? I have watched his debates and he makes econ 101 mistakes like confusing divisibility for an increase in supply, "there are over 2.1 quadrillion satoshis doesnt sound very scare to me" he says that verbatim. He seems to believe the whole reason gold is valuable is because of all of its "practical uses" despite the fact less than 10% of gold is used industrially. The other 90 is pure speculative store of value as a monetary asset.I genuinely believe the bitcoin shills pay this fucking mongoloid to come debate at their conferences to make bitcoin look better.
Didnt he say he was going to canada?
>>61830796He's so retarded that he's approaching infinitely richer than you pajeet.
>>61830826yeah by shilling shiny rocks to boomers that are even more retarded than him somehow
>>61830796gold is infinitely divisible in a sense but it's a physical commodity and the marketplace seems to feel 1 ounce troy coins are the benchmark. Bitcoin is divisible down to a single satoshi, 1/100,000th of a BTC, and you could theoretically transact a single satoshi if the mining ecosystem/gas etc was condusive to it. Hence Bitcoin isn't really "21 Million", which is a very popular slogan. >>61830800No, he's in Puerto Rico. I don't think he ever said he was going to Canada, he was campaigning for Trump pretty vigorously and laughed at the people saying that. >>61830826He's almost worth a billion. I think by the end of the year he'll be worth more than a billion. He parties a lot and just bought a yacht/flies private etc, so he's actually enjoying it. Plus that neighborhood he lives in is unreal. All the houses there have 10x'd -20x'd since he bought. I know because I was looking at them then, and can't believe the prices of them now. Like 20,000,000 for a 5000 sq foot house.
>>61830796Between 2005 and 2008, he was spreading his claim that the euro would replace the USD right away as the global reserve currency. He called his firm Europacific or something like that
>>61830845a sat is 1/100,000,000th of a bitcoin and no part of that changes the fact there is only 21 million. divisibility =/= increase in supply
>>61830796>He seems to believe the whole reason gold is valuable is because of all of its "practical uses" despite the fact less than 10% of gold is used industrially. The other 90 is pure speculative store of value as a monetary asset.The whole practical use case thing is retarded. I answer it with this thought experiment:"Space aliens come down and show you a super inexpensive way to make Zold from carbon. Zold has all the physical properties of gold and can be replaced for it industrially in every way- malleability, conductivity, corrosion resistant, but it's clearly not confused for gold because it's (insert some shit that makes it not gold without impacting the use case, idk it's green). Zold can be made for $1 a troy ounce. What does the price of gold go to?"
>>61830796All the major central banks are buying gold and not bitcoin, whatever bitcoin they have usually came from seizing it from criminals. Youd have to be an idiot to not see that the world is moving back to a gold backed system as the dollar fiat system slowly collapses
>>61830863>thought experimentStupid experiment because while it's possible, it's completely improbable. People have been wanting to make gold for centuries and there's no evidence that there are efficient or cost effective ways to do so. Furthermore it's property of being an element that does not corrode in typical habitable conditions makes it practical as a store of value and medium of exchange.
OP is such a clueless faggot I was contemplating ignoring this thread all together.Watch over the next 5 years how Schiff becomes a MULTI BILLIONAIRE. While you suffer wishing all the time you had educated yourself on his Austrian economic principles when you had the opportunity but blew it due to your idiocy and myopia. But here’s a crumb: gold would be used basically everywhere but it’s scare fuck as you moron. That’s what gives it its value , its utility.. It’s already in every device and spacecraft. It’s indestructible.Faggot.
