Peter Schiff vs. Stefan Molyneux - Gold v. Bitcoin Debate (video) - page 2.

BitTrade

full member

Activity: 173

Merit: 100

Quote from: gangplank on November 26, 2013, 03:35:44 AM

Don't waste your time on this one, nothing to do with Molyneux but it's pretty much Schiff trying to talk over Molyneux the entire time because it's not fair if Bitcoin erodes his PM business he's worked so hard to build up over decades and lose it all to Bitcoin right at the very end just as the economy implodes.

Indeed, his bias and butt-hurtedness is glaringly evident.

gangplank

newbie

Activity: 28

Merit: 0

Don't waste your time on this one, nothing to do with Molyneux but it's pretty much Schiff trying to talk over Molyneux the entire time because it's not fair if Bitcoin erodes his PM business he's worked so hard to build up over decades and lose it all to Bitcoin right at the very end just as the economy implodes.

LightRider

legendary

Activity: 1500

Merit: 1022

I advocate the Zeitgeist Movement & Venus Project.

Quote from: Voogru on November 26, 2013, 03:26:22 AM

Quote from: LightRider on November 26, 2013, 03:11:03 AM

I don't "hate" capitalism, I understand it and am pointing out its absurdity.

....

I'm selling a motherboard!

I see you're selling a motherboard. It's free right? Under RBE, there is no currency and the price of everything is $0 and requires a central planner.

I have contacted the central planner and we have established that I could use the motherboard, and you obviously don't need it since you're trying to sell it.

Men with guns will come to pickup the motherboard from you in the morning.

I wish we were living in an RBE right now, but as it is, I must advertise unwanted goods in my possession to others who might be interested via the unfettered chaos of the "free market" and since I am forced to compete with others for the basic necessities of life by an invalid economic monetary game, I am forced to engage in "voluntary trade" with others, each of us seeking to gain advantage over the other in order to obtain more than what is being offered by the counter party, a form of mental combat.

Or, you know, capitalism.

BitTrade

full member

Activity: 173

Merit: 100

Quote from: Voogru on November 26, 2013, 03:26:22 AM

Quote from: LightRider on November 26, 2013, 03:11:03 AM

I don't "hate" capitalism, I understand it and am pointing out its absurdity.

....

I'm selling a motherboard!

I see you're selling a motherboard. It's free right? Under RBE, there is no currency and the price of everything is $0 and requires a central planner.

*Dials phone* Hello, zeitgeist central computer of the anarcho-communist utopia? I'd like 10000 ASIC miners please.

Voogru

member

Activity: 99

Merit: 10

Quote from: LightRider on November 26, 2013, 03:11:03 AM

I don't "hate" capitalism, I understand it and am pointing out its absurdity.

....

I'm selling a motherboard!

I see you're selling a motherboard. It's free right? Under RBE, there is no currency and the price of everything is $0 and requires a central planner.

I have contacted the central planner and we have established that I could use the motherboard, and you obviously don't need it since you're trying to sell it.

Men with guns will come to pickup the motherboard from you in the morning.

LightRider

legendary

Activity: 1500

Merit: 1022

I advocate the Zeitgeist Movement & Venus Project.

Quote from: BitTrade on November 26, 2013, 03:03:59 AM

Quote from: LightRider on November 26, 2013, 02:41:58 AM

Person A: This string of bits is worth more pieces of worthless paper!

Person B: This shiny rock is worth more pieces of worthless paper!

Person A: At least we can agree that these pieces of paper are worthless!

Person B: Yes, but we all know that we must use those worthless pieces of paper to live.

A and B: CAPITALISM!

I don't "hate" capitalism, I understand it and am pointing out its absurdity.

beetcoin

sr. member

Activity: 434

Merit: 250

Quote from: Mike Christ on November 26, 2013, 02:56:07 AM

I didn't enjoy this one. Peter hasn't done any research about bitcoin and admits he's "not a computer guy", so of course he's biased toward gold (aside from owning it.)

And of course, he wanted to be the one with the biggest opinion regardless Tongue

i agree.. nothing about the discussion was that interesting. there needs to be a person with a computer technical + economics background for the discussion to be interesting. i didn't really like the topics they were talking about, since i already know of most of those issues.

BitTrade

full member

Activity: 173

Merit: 100

Quote from: LightRider on November 26, 2013, 02:41:58 AM

Person A: This string of bits is worth more pieces of worthless paper!

Person B: This shiny rock is worth more pieces of worthless paper!

Person A: At least we can agree that these pieces of paper are worthless!

Person B: Yes, but we all know that we must use those worthless pieces of paper to live.

A and B: CAPITALISM!

Mike Christ

legendary

Activity: 1078

Merit: 1003

I didn't enjoy this one. Peter hasn't done any research about bitcoin and admits he's "not a computer guy", so of course he's biased toward gold (aside from owning it.)

And of course, he wanted to be the one with the biggest opinion regardless Tongue

beetcoin

sr. member

Activity: 434

Merit: 250

each party has a position that most of us have heard of before, or already thought of in our minds.. so far i haven't really learned that much of anything.

LightRider

legendary

Activity: 1500

Merit: 1022

I advocate the Zeitgeist Movement & Venus Project.

Person A: This string of bits is worth more pieces of worthless paper!

Person B: This shiny rock is worth more pieces of worthless paper!

Person A: At least we can agree that these pieces of paper are worthless!

Person B: Yes, but we all know that we must use those worthless pieces of paper to live.

A and B: CAPITALISM!

Voogru

member

Activity: 99

Merit: 10

We had a digital gold currency. It was called e-gold.

The government shut it down.

I'm surprised that Stefan didn't mention this.

Stefan should have brought up if the government shuts down a digital gold currency that has similar features of bitcoin, and it shuts down someone who makes warehouse receipts of gold coins (Liberty Dollar), exactly what makes him think that the government would not shut down yet another digital currency backed by gold?

Obviously the gold would just be seized, rendering the digital units worthless. We tried it, it failed. It can't be done because of government regulations, and even if government regulations one day allow it, they can just as easily change the regulations again.

If it's operated in another country, well, it now has to comply with FATCA if it wants US citizens. Peter Schiff can't even offer his gold backed Mastercard to US citizens because of the regulations. This argument for a gold backed bitcoin is a joke.

I am a little disappointed that this was not brought up, as it's a huge issue with a gold backed digital currency.

In theory it would be very good, in practice it doesn't work. I'm almost tempted to call the show and bring this issue up.

BitTrade

full member

Activity: 173

Merit: 100

For your viewing pleasure.. Stefan rocked him as expected, but when Schiff was proposing a gold-backed bitcoin, molyneux should have noted that this introduces the necessity of a trusted third party to hold the gold, whereas bitcoin is inherently peer-to-peer, which is arguably bitcoin's most desirable feature. Also, it would have been nice to see him touch upon the "value" of the bitcoin network itself "backing" bitcoin. Overall, it was a decent watch.

http://www.youtube.com/watch?v=mFcTJAQ7zc4

Topic: Peter Schiff vs. Stefan Molyneux - Gold v. Bitcoin Debate (video) - page 2. (Read 2362 times)