Is There a World Without Bit Coin?

3min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

Pieter: I think bit coin is very expensive, you know, to create into existence. And it does consume a tremendous amount of energy and some gold, though. But also, what i'm worried about is not just a waste of energy and other resources, but all of the investment money, all of the talent that is being completely squandered in this cryptobbubble. This is a massive bubble. All of this being fuelled by the monetary policies of the fed. So at the end of the day, when this bubble pops, not only are we going to be poorer because people would have lost a lot of money, but all that talent, all those resources that otherwise

Since the world economy was plunged into crisis as a result of COVID-19 many economists have predicted a period of great instability. In normal times investors would seek to hedge against volatility by buying gold. But this time some are putting their money elsewhere – into Bitcoin and other digital assets. And that raises a fundamental question: in a time of rising inflation, will Bitcoin or gold be the trusted store of value and asset of the future? Anthony Scaramucci, Founder and Managing Partner of SkyBridge Capital and former White House Director of Communications goes head to head with Peter Schiff, chairman of Schiff Gold and chief global strategist for Euro Pacific Capital. The debate is hosted and chaired by Anne McElvoy, Senior Editor at The Economist. Register FREE for next Intelligence Squared Crypto debates in partnership with EQONEX via the links below: Crypto vs the Environment: https://bit.ly/3sGPq48 Crypto Can Bank the Unbanked: https://bit.ly/3zaYL6B

Support this show http://supporter.acast.com/intelligencesquared.

See acast.com/privacy for privacy and opt-out information.

Learn more about your ad choices. Visit podcastchoices.com/adchoices