Based on the points made by @PeterSchiff in his latest debate with @Breedlove22, the reason #gold has value is because someone out there can and will want to turn it into jewelry to sell it.
In other words, gold has value because of clout-chasing people who want to wear jewellery.
All that, while only ~10% of gold's market cap is represented by it's use in industry, while the other ~90% is monetary premium.
This guy makes some absolutely absurd claims and there are plenty of people out there who take him seriously 🤡🌍
Peter Schiff keeps claiming that for something to be a store of value, it first needs to be valuable.
To be valuable, according to him, that something needs to be useful to someone.
He says gold has value because jewelers want it to make jewelry out of it, etc.
He claims that, even if you don't or can't use gold to make it onto jewelry or use it in any other industrial ways, gold is still valuable because, someone who can will want to buy it from you, in the future.
He then proceeds to say #Bitcoin has no value because it has no use.
Well... Maybe #Bitcoin has no use, for him, because of his financial & monetary privilege, but it sure is of use to those who want to:
- transact online or globally, but are unbanked
- escape with it, fleeing war
- have their purchasing power grow over time, but can't access investment accounts
- store their purchasing power securely, when their local currency is inflated or confiscated by the bank/government
- etc.
So, by his definition of what something needs to do to have value, #Bitcoin actually has value
Not to him, but to hundreds of millions of people in the world, who are not as privileged as he is.
Imagine being an early and still existing #Bitcoin critic, watching it crash to:
- $5
- $50
- $500
- $5,000
- $50,000
In a few years, they will watch it crash to $500,000 and will probably still talk shit about it.
Imagine being that arrogant clown 🤡
Cc: Peter Schiff
Just saw a crow eat from a puddle of vomit.
That's how gambling on cRaPtOs, instead of saving in #Bitcoin, makes you look, anon.
Have some respect for yourself.
Your Thanksgiving dinner, measured in #Bitcoin, keeps getting cheaper, over the long term.
Happy Thanksgiving! 🧡
nostr:note1mz0sqvfwk6jxug7fwzvr42vk4j43prk0j4ltvek50sufnhxru4xqjvz8gx
Basically. Don't get me wrong. I've done my fair share of hustling and sacrificing all the things that come with that, but you need to also know when to get off the fiat treadmill.
When you save in #Bitcoin, over the long term, you don't become desperate for the next job promotion that comes with a pay rise.
Your savings are growing at ~20%, minimum, every year.
Being aware of that means you don't have to take on more responsibilities and the added stress that comes with that, just for some extra money.
That's the #freedom that Bitcoin can deliver.
#Fiat is theft.
#Shitcoins are scams.
#Bitcoin is hope.
Don’t let governments, banks, and grifters steal your future.
Opt out, stack sats, and take control of your purchasing power.
The money you use to save your purchasing power in over the long term is very important.
Saving in fiat currency is like living in a tent.
Saving in gold is like living in a wooden cabin.
Saving in #Bitcoin is like living in a stone castle.
Choose wisely.
Hey you! Yes, you!
If you save in #Bitcoin, this one's for you.
Remember that big pay rise you got a while ago?
Well... Bitcoin made it completely irrelevant, because you got a massive pay cut, in #BTC terms.
But don't be sad!
While your income has been devalued, your savings have gone up A TON!
Especially if you've been saving in Bitcoin for 4+ years.
So, give yourself a pat on the back for being smart enough to start saving in Bitcoin.
#Bitcoin is for hodling
#Bitcoin holders watching the price dump after coming within $200 of $100K
Exactly this!
For a bunch of people, who maybe started buying 10 years ago, their #Bitcoin savings are already at life-altering levels.
That means that even selling a tiny percentage of their #BTC can massively improve their lives.
Those are the people who really can afford selling, because the life quality improvement is worth it.
People who started buying at $58K are far from that point.
Well, that's what people are probably selling their #BTC now for. Since they probably can't buy goods and services directly via #BTC, they sell it for fiat.
The end goal is still achieved.
It's not even about material things. Selling 1% of a #BTC stack worth $1M is enough to fund someone's dream of visiting Europe or Southeast Asia, or other places, for a whole year.
For other people, that money can fund their ability to start or go full-time on a new online business and give up their current job.
People have different wants in life and those would improve the quality of their lives by 10x, I think they should do it.
Unpopular opinion:
Your choice to sell a fraction of your #Bitcoin and use that purchasing power to 10x your quality of life is worth more than waiting for #BTC to go up another 10x.
Just my 2 sats...
The reality is, our time alive is much more limited than #Bitcoin.
I'm not telling you to stop stacking or to sell your #BTC.
What I'm saying is that there's a time & place in your life, where you need to realise that improving your life is worth more than some extra #sats.
Friendly reminder that there's no prize for dying with the most amount of #BTC.
If your stack is large and selling, at this point, a tiny fraction of it can 10x the quality of your life, you'd be mad not to do it, just because that amount of #Bitcoin can go up another 10x.