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RE: My hint that Peter Schiff works for the banking cabal
Gold has intrinsic value. Bitcoin has none. Gold hasn't lost a third of it's value in the last month or so. Bitcoin was under $700 a year ago. There's no reason why it couldn't drop to $700 again. A year ago gold was at about $1340. It's at $1225 now. Gold has a 5000 year history of being money. Bitcoin, at 7 transactions per second, it's even a real currency.
Oh you want to have that discussion ? OK. Lets start with this fuzzy term: intrinsic value. What does it mean ?
https://www.sbcgold.com/blog/the-intrinsic-value-of-gold-and-silver/
"Their value comes from nothing less than their efficacy as a medium of exchange – as a form of money. It may sound weird at first, or perhaps tautological, to claim that gold is valuable because it can be used as value, but this is precisely the point."
Yep, Bitcoin does the same even better so my claim is: Bitcoin has more intrinsic value than gold and silver.
So summarized:
Bitcoin has more intrinsic value than gold. Bitcoin has lost 30 % of its value last month but gained 200.000 % since 2013 while gold has lost 50 % of its value since then. There is no reason why gold couldn't drop further just as much there is no reason that Bitcoin might go to 5000 $ in January. The history story is not a valid reason. Gold is also older than the internet but the internet is used more than gold. History has nothing to do here. The dollar is newer than gold and used more also. You don't need more than 7 transactions per second to be a store of value. Gold has even less transactions per second. But now come the advantes of Bitcoin. It is scarcer than gold, you can move value over the internet to the other side of the world in an instance, it is better dividable which makes it more flexible as a currency than gold. So basically Bitcoin is a store of value that can be used as a currency. And it is much easier and safer to keep at your home than gold. It can't be counterfeited (gold can as much fake gold coins already proved). ... Bitcoin >>> gold