Peter Schiff on Bitcoin - page 10. | Bitcointalksearch.org

MoonShadow

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Quote from: AnonyMint on November 19, 2013, 06:29:33 PM

Quote from: MoonShadow on November 19, 2013, 05:56:31 PM

Quote from: AnonyMint on November 19, 2013, 05:44:16 PM

Quote from: Pumpkin on November 19, 2013, 05:40:23 PM

Bitcoin cuts out the middle man.

No because a cartel will own buttCON.

It doesn't matter how many times you say it, AnonyMint. Just because you can say it, or even that you have a link to someone else saying it, doesn't make it so. You are welcome to your opinion, but I've read over the theory of that mining cartel attack, and I think it's just FUD. There is more to Bitcoin than either you or him understand. More than I understand, and I'm one of the people who actually understands how it works at the protocol level.

Read the linked thread on the Transactions Withholding Attack. I am the one who discovered the attack, and I have defended against everyone who has tried to refute it. No one can refute it. Read the thread and try to refute it (post over there in the thread). You can't.

I just did. And you're not the first, either.

Pumpkin

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Quote from: joae1975 on November 19, 2013, 10:27:50 AM

Added:

Nov. 18th, 2013 Two segments cut here. First is Peter talking about it. Second he's talking to a caller.
https://dl.dropboxusercontent.com/u/21580995/Peter.Schiff.bitcoin.11.18.13.mp3

Thank you very much for these clips! Please continue doing them.

blablahblah

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Quote from: tvbcof on November 19, 2013, 03:23:52 PM

Quote from: joae1975 on November 19, 2013, 02:41:01 PM

Quote from: sunnankar on November 19, 2013, 01:54:26 PM

Quote from: tvbcof on November 19, 2013, 01:52:58 PM

To bad that Peter is to much of a simp to grasp such a thing.

Here is Trace Mayer discussing Bitcoin with Peter Schiff in Feb 2013.

LOL! He's so funny when he's honest which is why I like him. Well that was last Feb. I would assume he's learned more sense then. Thanks!

He's probably doubling down on a losing bet and hoping for something to bail him out. The funny thing is that he seems quite unable to comprehend what the various things which could save him might be. Or maybe he does but does not want to pick one.

What's his business, though? If he's just a retail seller and then talking-up gold on the radio, then he doesn't give a shit. I find all this "intrinsic value" crap unconvincing -- anyone who cares enough can do their due diligence and google "value" and find out what the different theories are. Disclaimer: I bought a tiny amount of gold coinz right at the peak of the bubble, after listening to guys like Peter Schiff yelling "zomg dollar collapse imminent! Get ze gold while it's cheap." Now I'm a starving artist, so I'm not making that mistake again. Ohh cheap bitcoins! Cheesy

AnonyMint

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Quote from: MoonShadow on November 19, 2013, 05:56:31 PM

Quote from: AnonyMint on November 19, 2013, 05:44:16 PM

Quote from: Pumpkin on November 19, 2013, 05:40:23 PM

Bitcoin cuts out the middle man.

No because a cartel will own buttCON.

It doesn't matter how many times you say it, AnonyMint. Just because you can say it, or even that you have a link to someone else saying it, doesn't make it so. You are welcome to your opinion, but I've read over the theory of that mining cartel attack, and I think it's just FUD. There is more to Bitcoin than either you or him understand. More than I understand, and I'm one of the people who actually understands how it works at the protocol level.

Read the linked thread on the Transactions Withholding Attack. I am the one who discovered the attack, and I have defended against everyone who has tried to refute it. No one can refute it. Read the thread and try to refute it (post over there in the thread). You can't.

MoonShadow

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Quote from: AnonyMint on November 19, 2013, 05:44:16 PM

Quote from: Pumpkin on November 19, 2013, 05:40:23 PM

Bitcoin cuts out the middle man.

No because a cartel will own buttCON.

It doesn't matter how many times you say it, AnonyMint. Just because you can say it, or even that you have a link to someone else saying it, doesn't make it so. You are welcome to your opinion, but I've read over the theory of that mining cartel attack, and I think it's just FUD. There is more to Bitcoin than either you or him understand. More than I understand, and I'm one of the people who actually understands how it works at the protocol level.

AnonyMint

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Quote from: Pumpkin on November 19, 2013, 05:40:23 PM

Bitcoin cuts out the middle man.

No because a cartel will own buttCON.

Pumpkin

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Bitcoin cuts out the middle man.

Peter Schiff wants to create an electronic gold currency backed by physical gold. He wants to be the middle man.

MoonShadow

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Quote from: tvbcof on November 19, 2013, 01:52:58 PM

Crypto-currencies could be used to give gold some of the modern day transmission advantages without even going through a medium with counter-party risk such as an ETF or whatever.

Care to explain how?

tvbcof

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Quote from: joae1975 on November 19, 2013, 02:41:01 PM

Quote from: sunnankar on November 19, 2013, 01:54:26 PM

Quote from: tvbcof on November 19, 2013, 01:52:58 PM

To bad that Peter is to much of a simp to grasp such a thing.

Here is Trace Mayer discussing Bitcoin with Peter Schiff in Feb 2013.

LOL! He's so funny when he's honest which is why I like him. Well that was last Feb. I would assume he's learned more sense then. Thanks!

He's probably doubling down on a losing bet and hoping for something to bail him out. The funny thing is that he seems quite unable to comprehend what the various things which could save him might be. Or maybe he does but does not want to pick one.

To bad the people he influences might end up co-lateral damage, but I guess that is what happens when one bets on the wrong horse.

I never considered him 'funny'. He's had the same spiel ever since I've heard of him and I used to listen to his views regularly many years ago. Pre-2008 IIRC. He's one of those 'every squirrel finds a nut sometimes' sorts of guys in my opinion and his only real source of success is a shrill tone which appeals to a certain class of listeners.

joae1975

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Quote from: sunnankar on November 19, 2013, 01:54:26 PM

Quote from: tvbcof on November 19, 2013, 01:52:58 PM

To bad that Peter is to much of a simp to grasp such a thing.

Here is Trace Mayer discussing Bitcoin with Peter Schiff in Feb 2013.

LOL! He's so funny when he's honest which is why I like him. Well that was last Feb. I would assume he's learned more sense then. Thanks!

sunnankar

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Quote from: tvbcof on November 19, 2013, 01:52:58 PM

To bad that Peter is to much of a simp to grasp such a thing.

Here is Trace Mayer discussing Bitcoin with Peter Schiff in Feb 2013.

tvbcof

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Crypto-currencies could be used to give gold some of the modern day transmission advantages without even going through a medium with counter-party risk such as an ETF or whatever.

To bad that Peter is to much of a simp to grasp such a thing.

joae1975

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Added:

Nov. 18th, 2013 Two segments cut here. First is Peter talking about it. Second he's talking to a caller.
https://dl.dropboxusercontent.com/u/21580995/Peter.Schiff.bitcoin.11.18.13.mp3

MoonShadow

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Quote from: joae1975 on November 18, 2013, 05:18:18 AM

Quote from: AnonyMint on November 18, 2013, 01:40:04 AM

Quote from: joae1975 on November 18, 2013, 01:34:08 AM

You ever heard of "Gold Backwardation?" I've only heard about. Someone brought it up in Peter's show and Peter blew him off.

See here:
http://www.professorfekete.com/articles/AEFTheDailyBellinterview2013.pdf

I've debated Fekete before in private email. It is all nonsense.

http://armstrongeconomics.com/2013/03/06/gold-backwardation-the-real-story/

http://armstrongeconomics.com/2013/10/24/gold-perpetual-propaganda/

I figured as much. So what's the difference between new and old school Austrian economists? Is new school just a term for Keynsians posing as Austrians?

Oh, definately not. Peter is no keynsian, although me might be a bit of a moneterist.

AnonyMint

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Quote from: rpietila on November 18, 2013, 03:06:52 AM

What is nonsense regarding backwardation? (My guess - markets are so rigged that nothing just matters)

Armstrong explained it:

http://armstrongeconomics.com/2013/03/06/gold-backwardation-the-real-story/

Quote from: joae1975 on November 18, 2013, 05:18:18 AM

I figured as much. So what's the difference between new and old school Austrian economists? Is new school just a term for Keynsians posing as Austrians?

I don't know anything about that. Fekete is a well intentioned person and also very smart. He just doesn't have the big picture that Armstrong can see, because Armstrong is actually in all the markets. He had a $3 trillion hedge fund, the largest ever before they shut him down and threw him in maximum security prison for 7 years for contempt of court.

Experience trumps and refines theory. Armstrong has experience trading in all markets on a global scale, including gold.

joae1975

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Quote from: AnonyMint on November 18, 2013, 01:40:04 AM

Quote from: joae1975 on November 18, 2013, 01:34:08 AM

You ever heard of "Gold Backwardation?" I've only heard about. Someone brought it up in Peter's show and Peter blew him off.

See here:
http://www.professorfekete.com/articles/AEFTheDailyBellinterview2013.pdf

I've debated Fekete before in private email. It is all nonsense.

http://armstrongeconomics.com/2013/03/06/gold-backwardation-the-real-story/

http://armstrongeconomics.com/2013/10/24/gold-perpetual-propaganda/

I figured as much. So what's the difference between new and old school Austrian economists? Is new school just a term for Keynsians posing as Austrians?

rpietila

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What is nonsense regarding backwardation? (My guess - markets are so rigged that nothing just matters)

AnonyMint

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Quote from: joae1975 on November 18, 2013, 01:34:08 AM

You ever heard of "Gold Backwardation?" I've only heard about. Someone brought it up in Peter's show and Peter blew him off.

See here:
http://www.professorfekete.com/articles/AEFTheDailyBellinterview2013.pdf

I've debated Fekete before in private email. It is all nonsense.

http://armstrongeconomics.com/2013/03/06/gold-backwardation-the-real-story/

http://armstrongeconomics.com/2013/10/24/gold-perpetual-propaganda/

joae1975

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Quote from: MoonShadow on November 15, 2013, 12:54:48 AM

Quote from: joae1975 on November 14, 2013, 09:52:36 PM

Today's show had the best caller challenge yet. But he waits until the end of the show and they have no time. Please listen to the end. He goes on an amusing tangent about Janet Yellen then back to bitcoin.
https://dl.dropboxusercontent.com/u/21580995/Peter.Schiff.bitcoin.11.14.13.mp3

The bitcoin defenders are poor in understanding here, particularly the first one, but Peter does make some good points here. Gold cannot go to a use value of zero, while it's possible that Bitcoins can. Granted, if gold were to drop to it's 'intrinsic value' it would be somewhat comparable to the value of lead, maybe slightly more due to much lower toxicity, but close. Considering that refined lead is under a dollar a pound right now, that would represent something on the order of a 99.99% loss in value. "You didn't lose everything, you've still got .01% of your life savings! Don't Jump!"

While it's possible for bitcoins to go to zero, the only way that happens now is if there is some tragic & unfixable flaw discovered in the protocol that gives Bitcoin it's 'intrinsic value' to start with. Again, possible; but the tragic and unfixable flaws with using electronic precious metal deposit receipts as an online trade currency are, if not altogether obvious, already demonstrated by the folding of both Egold.com and the persecution of the Liberty Dollar. Governments will not suffer any competitor to exist if they can help it, but they can't help it with Bitcoin.

That last caller seemed to know his stuff, but was cut off by Peter before he could actually finish the argument.

You ever heard of "Gold Backwardation?" I've only heard about. Someone brought it up in Peter's show and Peter blew him off.

See here:
http://www.professorfekete.com/articles/AEFTheDailyBellinterview2013.pdf

MaxBTC1

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Schiff the Shiller has been at it all year round, and he's being found out. I think he might turn a corner soon on his stance.

Topic: Peter Schiff on Bitcoin - page 10. (Read 38869 times)