If Bitcoin's main value proposition nowadays is being a store of value, then wouldn't it be reinventing the wheel if gold has been doing just that for 4000+ years?

We've seen worse statement from people. I really see him as someone who is jealous of the present Bitcoin height. Bitcoin can replace has replaced gold but gold cannot replace  Bitcoin. There are even some cryptocurrencies that are pegged to the price of gold, and that makes them gold too, so, I don't really see what is giving gold such confidence. Instead of buying gold, I'd just keep buying more Bitcoin.

isn't it the same argument Bitcoin fanboys say about altcoins?

"Nothing can replace Bitcoin because it's the first"

well, gold bugs are using the same argument against you...

what's the point of exchanging arguments when all you guys are saying is "do you own research"?

I don't know what he is trying to say but saying that it's false hope? Nahhh. I don't think so. If he knows the reason behind it and knows that there is no one behind Bitcoin, he might have changed his views. In the video, he keeps telling that it's "them" but no one is behind Bitcoin. OR he might be just saying that but he is just trying to make a dip for some reason, lol.

He is just saying some random stuff that he doesn't know about.

• Bitcoin has no use
• Nothing similar to Gold
• "Fools" Gold
• Buying Bitcoin is a mistake

Save your time people.

I wouldn't say that a lot of things are a store of value. Property can easily lose its value if bad policies ruin the country. Same with companies, bonds and many other things that require a "civilization" to maintain its value.

While bitcoin's cool properties are that nobody can easily change the rules, it still is online thus requiring much more infrastructure and trust in civilization to run properly compared to something truly off-grid like gold ;-)

I think it is hard to disagree with much of what he said. His arguments are clear and well-supported, but I think he is wrong overall.

The disagreement all boils down to these two questions:

1. Will bitcoin have any utility in the future?
2. If so, does that future utility justify the current price or even a higher price?

Peter Schiff believes that that Bitcoin has little future utility, if any, and if it does have any future utility, it does not justify the current price. That is a reasonable belief. I challenge anyone to show that is not.

I believe that Bitcoin probably has some future utility, though how much is unclear. I believe that a higher price is justified based on the potential of future utility.

I agree with everything else that he says. I especially agree with his assertion that Bitcoin today is a pyramid scheme. It wasn't in the beginning and I'm sure it won't be in the future, but it is right now.

I don't think Bitcoin will have any utility in the future, why, because it's not fit for purpose. It's too slow, the fees are too expensive, it does not scale well, there are other problems as well. Once the pyramid scheme ends, better crypto's will take over.

I am of the opinion that people say some sort of bad things towards something or someone when they feel threatened, jealous of that thing or when they lack the simplest idea on what that thing is all about, with this mindset, I have learn not to bother listening to people who say thrash about Bitcoin, thus seeing them as people who have limited or rather little to no knowledge of Bitcoin. Yes, he is not serious and doesn't have a point because if he truly understand Bitcoin, he would have known that for Bitcoin to attain such a piece today means it is doing something great, something worthwhile and offers something really needed in the world today. Also, if he carries out little research, he would have come across platforms which are already adopting it, then he would have understood how wonderful the future is. Well, everyone is entitled to their opinion, decisions and choices, but Bitcoin on the other hand, will keep surprising everyone.