Bitcoin a fad? A Conversation with pistooli1 - YouTube Comments Series

uld not invest my time, energy and money into this space, I want to know.

I never commented on videos, but now I am actively looking for someone to challenge my views on this matter.

So this afternoon I watched a video of GrahamStephan about bitcoin and suddenly there he was............ pistooli1.

He commented:
The only thing that is safe is Physical gold and silver. It actually exists.

Challenge accepted, I said to myself.

Joel Watchman
The only thing that is safe is food and fuel. It can actually prevent us from dying. Why does gold have value? It's no magical rock. I can't eat gold and only recently (compared to the last 6000 years) gold has started to be used in electronics.

The reason gold has had value for centuries is because the people gave it value. It was kinda rare and they could make coins and jewelry with gold. There was no other application for gold.

Bitcoin is digital gold. It can't be shut down. There is only a certain amount of it. It gets mined. It can't be destroyed. You can't eat bitcoin. We the people have given bitcoin value. You could say though that it's far more likely that in the future people will regard bitcoin to have a value of $0 rather than that gold will have a value of $0.

Gold and silver aren't even that safe. We all assume people will want to trade food and fuel for precious metals. Again - the only thing that is safe is food and fuel. It actually can prevent us from dying (though let's add guns and ammo to that list).

Sometimes they don't answer back, but pistooli1 came back guns blazin'.

pistooli1
Bitcoin is no different than paper gold and silver. Bitcoin is manipulated by the banks in almost exactly the same way as paper gold and silver.......... You seem to assume gold bugs don't know they can't eat gold why is that ?.............. Gold has value because it is real and takes costly resources to produce, that's why it has always been a solid store of wealth.............. There can only be a certain amount of bitcoin, that's why TPTB have just introduced more crypto currencies to compensate LOL.

What makes you think that gold and silver stackers don't take care of other preparations first ?

I didn't understand the part about the gold bugs and I didn't know what TPTB was (The Powers That Be apparently), but I had to answer him of course. I came back with again a lot of text. I hope to make it shorter in the future.

JoelWatchman
So according to you there is a limited amount of paper gold and silver.
They are manipulating gold and silver by keeping the price low, which makes sense since that makes it less attractive.

If the banks are manipulating bitcoin, they apparently want people to get to know bitcoin by making the price rise, causing it to be featured all over the news. Those people will probably learn more about bitcoin and how it is decentralized. They will then learn more about the current financial system. I don't see a good reason why the banks would want people to know more about their corrupt and failing system. Do you?

It would make more sense for TPTB to want to keep the price low, keep it hidden from the public, keep it insignificant. If their plan is to make the price rise and then crash 80%, "proving" that bitcoin sucks, isn't that already what happened in 2013? It didn't help much... It's possible that bitcoin is being manipulated by the banks, but it sure is making bitcoin more and more popular.

Gold has value because it's real isn't a valid argument. Rocks are real, but I don't see people paying over a thousand dollars for a piece of random rock. Gold got its value because people gave it value.

Bitcoin takes costly resources to produce. Millions of dollars in electricity a month, plus buying hardware, updating hardware, rent of the building and cooling.

Have you researched altcoins? Have you researched their founders?
The fact that there is only a certain amount does not mean that only 21 million people can have a bitcoin. A bitcoin is divisible to the eight decimal.

The altcoins are trying to attack issues that bitcoin doesn't. A lot of them are scams with the founders wanting to make a fortune with a quick pump & dump, but not all.

I don't think that. I just answered on your statement that only gold and silver are safe.
btw, I love silver. Not bashing precious metals at all.

He then did what I kinda expected him to do. He didn't answer any of my points. He basically said the same thing he said earlier. To me it felt like one of those say a catchy thing and quickly hang up the phone statements.

pistooli1
All imaginary things are unlimited. Bitcoin and the rest are nothing more than an a fad for suckers..... Gold has value because it is rare and real, like it or not but that's that's the way it's been for thousands of years. It has stood the test of time................. Bend to the truth or live a lie, the choice is yours.

Joel Watchman
For everybody who sees holes in pistooli1's logic and reasoning, I suggest you check out the videos of Andreas Antonopoulos if you don't know anything about bitcoin/blockchain yet. He breaks things down real good.
Do your own research and judge for yourself if it's a fad or here to stay.

Conclusion.
The reason I adressed my last statement to the readers and not to him personally is because this entire conversation was not for him. It was for me, for the people who are curious about this space and maybe, maybe, maybe for him.

The ones that post comments like this often have their opinion set into stone. It can't be changed. I simply give them a chance to explain their opinion and to convince me.

The guys and girls who are new to this space and check the comments to see why they should or shouldn't get into it are the ones I was adressing. My comments may convince someone in the future to research this subject and improve his life.

What do you think of my arguments?
Got any tips for me to improve?
Want to see more conversations like this?

Let me know,

Joel