Yes, Peter Schiff actually just made the claim that #Bitcoin isn’t scarce because you can divide them into satoshis 😂

As the old saying goes: “Give a man a fish and he’ll eat for a day. Cut a fish into a 100 million pieces and he’ll eat for 100 million days.”

Honestly kudos to nostr:npub1dmcd5wqd3yku05svp6xqk5gyywek4cgg0w3dk63tcu0rmjxnanns5xutjm for not breaking out in laughter. https://v.nostr.build/rDkMlUU34tb0UwcL.mp4

Reply to this note

Please Login to reply.

Discussion

😂

🤣🤣🤣 it’s all attention he wants. That’s his energy and the crazy world gives it to him🤡📺

Jack basically said that Peter drones on so fucking long he was mostly ignoring him and checking his email

Yeah, I might have been yelling at my TV when he made this assessment.

Tell me you don't understand the tech, without actually telling me you don't understand the tech.

2.1 quadrillion satoshis divided by the world population is about 256,858 satoshis per person.

But, some have been lost forever, some are unspendable dust, and many individuals and entities already hold more than this share.

Satoshis are VERY scarce.

nostr:nevent1qqs06la2l52xn835djz5nelq69uwn2xnapvegulkgnp9uwgvgt78j9spz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsygxy3c5lqj6g9nqpeg0ea7xgdmurrrq9nc8fx5er2930pq8jdc2vzypsgqqqqqqsy7uevf

I really wish nostr:npub1dmcd5wqd3yku05svp6xqk5gyywek4cgg0w3dk63tcu0rmjxnanns5xutjm response was in here. I imagine it went something like this:

“Peter, come on, as a gold guy you really should understand divisibility. I mean really if you take a gold bar and cut it in half you know you don’t have two bars of gold. If Peter runs his business like that someone needs to do some investigation for fraud. You can’t do the same thing with a satisfied as a whole bitcoin any more than you can do the same thing with a gram of gold as a bar. Come on Peter.”

A dollar is made of 100 cents...

But we all know that CopePete is doing it to tank and fatten his pockets with precious cheap sats. The dude is stacking like crazy.

I don't buy that he's son is a laser eyes guy and his father a boomer with the hots for just gold.

Peter doesn't know there is roughly 25,000,000,000,000,000,000,000,000 yoctograms of gold above ground per person! Not scarce at all!

Meanwhile there are only ~230,000 sats per person.

https://satoshisperperson.com/

Best troll ever 🤭

I guess I'm ahead of the game on that scale... 😅

🤡

lol. Thanks for sharing, Walker. I appreciate the effort and the anecdotes

Good thing I sold all my bitcoin for satoshis before it crashed. 😮‍💨 Thanks, Peter Schiff!

He won't care if he is right. Let time heal him 🤭🤭

PoP proof of patience

if he didn't exist, we would have to invent him, I mean Peter,

so entertaining !

he is definetely our Yang

I no longer think Peter Schiff fails to understand. I think he makes a massive amount of money off engagement and has his family using that money to stack sats.

...that only happens in a #deflationary environment

e.g.,

"1 sat is too valuable for this dozen eggs...we need LOWER PRICES..."

When this realizatian clicks...

nostr:nevent1qqs06la2l52xn835djz5nelq69uwn2xnapvegulkgnp9uwgvgt78j9spz4mhxue69uhkummnw3ezummcw3ezuer9wchsygxy3c5lqj6g9nqpeg0ea7xgdmurrrq9nc8fx5er2930pq8jdc2vzypsgqqqqqqs3mwen0

He accidentally makes an excellent point: you can do with a satoshi everything you can do with a bitcoin (valuation aside). This is the rothbardian argument for a locked maximum circulation in hard money: any locked amount will work on any size of economy.

bitcoin derangement syndrome

I don’t really understand why bitcoiners still bother to debate him. It’s clearly just clickbait for him to stay relevant.

I mean I would never know him if not for bitcoiners

Yeah at this point it mainly seems just engagement farming.

Of course you can cut a Pizza into a million slices and serve a million people with that Pizza. That’s purest logic! 🤷🏼‍♂️😂