Topic: Peter Schiff about the Winklevoss twins interview about the future of Bitcoin - page 3. (Read 5480 times)

Some things Peter Schiff say are right: for example, the upcoming QE4 (or whatever name they want give to it).
In fact, IMHO, they have already switched on the printing presses.
The USD Money Base (MB) grew 256 billions December 24 compared to two weeks earlier. This brough the inlfation rate over one year from 0.something% to 8.8% in two weeks. And the next data released kept the value there (7.7% and 8.x%).

This is the largest increase of the MB in the last 4 years. Not only in absolute numbers but also in proportion to the existing MB.

If the MB increase exceed the increase of Bitcoins in existance (now around 9.8-9.7%, ) this will cause an increase in adoption for Bitcoin in the USD area (people will start to buy BTCs and sell $ as a form of savings and speculation). If the ECB start its QE program and the Fed. follows few weeks or months later, we will see an increasing adoption from the € area (the people using € in Europe and around the world) and the USD area (the people using USD around the world and in the US). This could propel the price pretty up up up in the 5000€/$ range

BTW, the current situation of the SCB is pretty interesting:
They printed 8x franc compared to 7 years ago, to prevent the exchange rate to go ballistic.
If the bank need to stay solvent, it will be forced to buy back the francs it sold at lower prices than it sold them (just to make a small profit or a little loss). This will work as a price floor for the Swiss Franc against the €. So, if the franc start to be sold, the SCB need to buy them at less than 1.2 €/franc. The big problem, for the SCB is if the francs it sold start to buy Real Estate in Switzerland. It could rocket the prices in the Twilight Zone.

So much negativity on Peter Schiff here. He has been often right when everyone was delusional and he has been right on gold since gold rose from 300$ when he said to buy it to 1280$ now.

Peter Shiff puts me to sleep faster than melatonin. This guy is a broken record and a gold dinosaur. A walking boat misser.

Indeed, is not going to happpen. QE4, wil be started soon

Peter Schiff just a d-bag. Just cant stand his monotone flapping

With the Treasury having amassed (and still amassing) the largest debt in human history, there's no chance the Fed is going to raise interest rates by any meaningful amount, for any substantial length of time.  They might stick their toe in the water, but that'll be about it.

He has underestimated the time the market needs to react, he has been wrong on what the market reaction will be to a specific event he was forecasting, he has been wrong on facebook, he is probably wrong on amazon and bitcoin even if he sometimes raises good questions.

But he has been right on the dotcom bubble, the real estate bubble, qe2, qe3, gold not decreasing in 2014..

If the FED raises interest rates to 5%, unwind its balance sheet without any markets going down and if they don't have to back track, decrease interest rates and start qe4 then he would have been wrong but it is not going to happen.

Peter Schiff hasn't been right about anything for a long time now. If the Fed raises interest rates like they say they will, it will be the final nail in his coffin.

He is right on many things but thinks to disregard all digital companies or innovations.

Peter Schiff suffers from the same condition Warren Buffet suffers from, which consists on not being able to see whats going on beyond fiat, metals and regular stocks: Being old as fuck.

Let's say he is bearish :

https://www.youtube.com/watch?v=DRPiPTjpSgI

Peter Schiff's views on the economy are very good and he usually makes very good and interesting bearish points on Bitcoin but he is missing the big picture about Bitcoin because he doesn't understand the use of the technology.

On the video he missed the point about Bitcoin that is useful, Bitcoin can have a 400 Billions market cap while visa and western union still exist and the Winklevoss twins will not unload at 100$.

He was saying Facebook was overvalued when its market cap was 10 Billions and it is 215 Billions now.
He still says Facebook is overvalued and doesn't earn anything when their EBITA was 8.1 Billions in 2015 and they have 11.3 Billions in cash!