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#740 The Ultimate Bitcoin vs. Gold Debate w/ Peter Schiff & Peter McCormack

The Pomp Podcast

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How to Transfer Ownership of a Cryptocurrency

Mr Cormick says a digital currency can only be backed by something, most likely gold. If you have a trusted third party that has the gold, and that digital currency entitles you is a receipt for the ownership of that gold, then you own the gold. Mr Cormick: 'I'm grounded in reality. It's not like i've made a choice,. I'm just looking at the rules of economics'

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