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RE: Ivan on Tech debates Peter Schiff - Bitcoin vs Gold, US Dollar Crash
Great conversation @ivanli
I appreciate your recent shows between Schiff and Heart. A lot of good diverse viewpoints! I like that you don't limit your guests to Bitcoin Maximalist and Crypto Perma Bulls!
I think we as a community should focus on why something that is intangible can have more value than something tangible. It may be easier for younger people who are more fluent in digital spaces. However it's clear that older folks around Schiff's generation (baby boomers in USA) still have deep skepticism of intangible assets.
Agreed. My rebuttal to the objection that bitcoin is intangible and unbacked is this: The bitcoin network is tangible because it is comprised of scarce resources like hardware, energy and human capital. This is what we need to convince people of. No, you cannot eat a bitcoin, and it won't keep you warm in the winter, but what you're buying is the freedom to transact in a trustless manner. The biggest hurdle for the mainstream is the education gap and the paradigm shift required to take the leap of faith by taking personal responsibility. We're so used to having our hands held by the financial system. However I see a place for both fiat and crypto to coexist.
True good points @steadytoken. The freedom to transact in a trustless environment should have a dynamic pricing mechanism.