The "What is Money?" Show
Bitcoin vs Gold DEBATE 2024: Peter Schiff vs Robert Breedlove (WiM532)
Nov 20, 2024
In this engaging discussion, Peter Schiff, a prolific financial commentator known for his expertise in gold and traditional finance, debates with Robert Breedlove, a visionary entrepreneur and advocate for Bitcoin. They tackle the merits of gold versus Bitcoin as money in a digital economy. Key topics include inflation's impact on currency, the properties that define sound money, and the practical challenges of using gold today. The two explore the future of finance, trust in government policies, and what this means for the value of both assets.
01:54:10
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Quick takeaways
- Money should possess key characteristics like divisibility and durability, with gold historically serving as a tangible store of value.
- Bitcoin represents sound money in a digital future, despite its lack of industrial utility, relying more on speculation than inherent value.
Deep dives
Characteristics of Sound Money
Money must possess essential characteristics such as divisibility, durability, recognizability, portability, and scarcity. Before considering digital options, it is necessary to start with a tangible store of value, which has historically been gold for a non-digital environment. In contrast, Bitcoin serves as sound money in a digital future, although it lacks practical industrial use. This absence of inherent utility allows Bitcoin to be seen as pure money, primarily subject to speculation.
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