Bitcoin vs Gold DEBATE 2024: Peter Schiff vs Robert Breedlove (WiM532)

The "What is Money?" Show

Robert Breedlove

Bitcoin, Breedlove, What Is Money, Investing, Rabbit Hole, Cryptocurrency, Money, Finance, Education, Robert Breedlove, History

4.8 • 710 Ratings

🗓️ 20 November 2024

⏱️ 114 minutes

🔗️ Recording | iTunes | RSS

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Summary

Peter Schiff and I debate Bitcoin vs Gold: What is inflation? What is Fiat Currency? What properties does the free market select for in a money? How do Bitcoin and Gold stack up along the monetary properties of divisibility, durability, recognizability, portability, and scarcity? Where will Bitcoin and Gold be 100 years from now? Which money should you use in the digital age?

Transcript

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0:00.0	Money needs to be divisible, durable, recognizable, portable, and scarce.
0:05.0	None of those characteristics are relevant if you don't start off with an actual commodity, with an actual store value.
0:11.0	Gold is sound money for a non-digital future. Bitcoin has sound money for a digital future.
0:16.0	You're making an argument just because we have a digital economy that we don't need real money anymore. We can have
0:21.6	fake digital money. So Bitcoin has zero percent industrial use value, but this is a feature, not a bug.
0:28.0	This makes Bitcoin the world's only pure money. That's a negligible percentage. The number one
0:34.4	use case for Bitcoin is speculation. Let me ask you, Peter, do you hold physical gold?
0:39.4	I have physical gold, yes.
0:40.7	Okay, why don't you just keep it all with a custodian?
0:43.0	Because I want to have some readily available just in case I needed.
0:46.0	Exactly.
0:46.2	In Nixon's August of 71 speech, he said we're temporarily detaching the dollar from gold.
0:52.2	So it's still a broken promise.
0:54.2	Politicians are still liars.
0:55.7	Let's get that on rep.
0:56.6	More permanent than a temporary government solution.
0:59.2	Thank you.
0:59.9	Yes.
1:05.8	My guest today is Peter Schiff, the host of the Peter Schiff Show podcast, and author of How an Economy
1:12.9	Grows and Why It Crashes, along with Robert Breedlove, he hosts the What Is Money
1:19.2	Podcast, and is author of Bitcoin and The Tyranny of Time Scarcity.
1:24.8	Today we'll be discussing the utility of Bitcoin through the Austrian lens or
	...

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