
Saifedean Ammous vs Peter Schiff on Sound Banking, Gold & Bitcoin
The Bitcoin Standard Podcast
00:00
The Importance of Industrial Properties in Bitcoin
In the bitcoin itself it does create value because it is a it's effectively think about it as if we've discovered a new element similar to gold but scarcer than gold harder to produce than gold. But for all those other characteristics at bitcoin lacks you know i doubt that in fact if you read what me this says he says that gold industrial properties are actually a hindrance for it playing its monetary role. A better money would not have industrial supply and demand it would just purely reflect the time of power the rate of time of preference no it would just be purely monetary good. In order for you to pretend that bitcoin has value you have to pretend that other commodities have no value which really undercuts
Transcript
Play full episode