• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Breaking News: Breaking: DCG And Genesis Close Initial Agreement With Creditors
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: DCG And Genesis Close Initial Agreement With Creditors
Advertisement

Schiff vs. Scaramucci Debate Sees Bitcoin TKO At The Hands Of Gold

Samuel Wan by Samuel Wan
1 year ago
in Bitcoin
0
Advertisement

Peter Schiff scores a victory over Anthony Scaramucci, and Bitcoin, by convincing more than half the viewers of a live debate that gold is the superior asset.

The debate in question was hosted by Intelligence Squared and featured a near one-hour-long discussion on whether Bitcoin or gold makes for the better store of value.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

The Public Vote Goes Against Bitcoin

Scores before the debate were 26% for Bitcoin, 38% for gold, and the remaining 35% comprised of those who were undecided. Meaning there was all to play for.

But following the end of the debate, the final vote came in at 32% for Bitcoin, 51% for gold, and 17% undecided.

As a “victory comment,” Schiff playfully called out Michael Saylor on his refusal to debate him live on the same matter.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

“I just gotta say one thing. Michael Saylor stop ducking me, I know you’re out there.”

Whereas Scaramucci congratulated Schiff and encouraged everyone involved, including Schiff, to do more homework on the matter. Schiff responded by saying he has done his homework but remains unconvinced.

Scaramucci signed off by saying the debate has prompted him to buy even more BTC.

The Case For BTC

Speaking for Bitcoin, Scaramucci opened by saying it’s possible to “be at intellectual odds with people, but still be friends.”

While he sees a future for gold, Scaramucci referred to younger population cohorts preferring newer, more technology-based stores of value.

“I do believe the world is moving past gold in terms of a store of value that the largest group of our population will be a part of.”

Scaramucci sold the idea of Bitcoin on its revolutionary concept of permissionless transactions. He said before Bitcoin’s arrival, two parties, who may not know each other or even trust each other, had no way of transacting without involving a third party.

What’s more, Bitcoin features easier portability, better security in terms of weeding out fakes, and is more scarce. As such, Scaramucci thinks these factors mean Bitcoin will eventually transcend gold as the primary go-to store of value.

The Case For Gold

Schiff, on the other hand, took a different strategy. Rather than list the benefits of gold, he opened by saying Bitcoin and gold have “absolutely nothing in common.”

Even so, he states the “marketing fraud” behind Bitcoin tries to group both Bitcoin and gold as similar things. But he made clear that BTC, as a string of numbers, shares no similarities with gold.

“part of the marketing fraud is to try to portray Bitcoin as gold, gold 2.0, digital gold. I mean Bitcoin itself is always displayed as a coin, and the color is gold, and you put like a “B” on it. But it’s not a coin, it’s just a digital string of numbers.”

Going for the jugular, Schiff said gold has actual uses, for example, in aeronautics, dentistry, and as jewelry. And what makes it a store of value is that its uses can be stored for usage at some future date.

“In 100 years, in a 1,000 years, the gold that I’m storing today can be melted down and used in electronics or used in jewelry, or for whatever new uses have been invented that don’t even exist today.”

Whereas Bitcoin cannot be a store of value because it has no actual value to store. In other words, there’s nothing that people can do with Bitcoin other than for speculative purposes.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Samuel Wan

Samuel Wan

Samuel Wan is passionate about different cultures and eating good food. He has years of experience working in business and finance — a burgeoning interest in Bitcoin and cryptocurrencies since 2017. UK based.

Related Posts

Bitcoin BTC BTCUSDT

Will Bitcoin See A Valentine’s Day Massacre Or Can Bulls Get Back To $24,000?

14 mins ago
Bitcoin

Bitcoin Long-Term Holders Are Still Selling At Loss: Glassnode

6 hours ago
Bitcoin BTC

Will Bitcoin And Ethereum Crash? DCG Sells Grayscale Trust Shares

8 hours ago
Bitcoin

Top Crypto Miner At Record Bitcoin Production, Bear Market Over?

20 hours ago
Bitcoin price

This Will Be Important For Bitcoin And Crypto This Week

1 day ago
New record: 49% of Bitcoin Supply Has Not Changed Hands in 2 Years

New Record: Half Of Bitcoin Supply Hasn’t Changed Hands In 2 Years

2 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • ALTCOIN DAILY TO PRODUCE AND STAR IN NEW “SHARK TANK OF...

    5 hours ago
  • SinVerse Studios Announces $1 Million Buyback Program for...

    5 hours ago
  • Join the Revolution: Invest in STARSTAKING for 25% APY and...

    5 hours ago
  • The Crypto Bull Market Trend Has Started! What Does This...

    6 hours ago
  • Orbeon Protocol (ORBN) Grows 1625% During the Presale...

    6 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.