This fight between Peter Schiff and supporters of Bitcoin shows how digital money is trying to take place of gold since Bitcoin is quicker, it can be broken into parts and much easier to prove as real. Although one needs expensive tools and trained staff to find out that piece of gold is not fake, as we see when Schiff is unable to check gold bar on stage, any person can run simple computer to become cut down point in Bitcoin network, downloading and checking whole history of blockchain without need to trust middle man.Bitcoin gives movable way of carrying billions of dollars in simple word list, unlike gold, which is heavy and difficult to carry across borders, and, also, has same wins of hard money but at much higher level of openness and safety.
Who even cares about the stage debates? The market voted with its wallet a long time ago. Schiff can talk about gold's history all he wants, but you can't beam a gold bar across the world in ten minutes for a few cents.
That's the bottom line for me. All this verification and portability talk is just intellectualizing a basic utility argument. People use Bitcoin because it works better for specific things, like moving value across borders.
Remittances to places like El Salvador are the real-world test.. The fact that a country is building its national brand around it tells you where the momentum is. It's not about convincing every gold bug; it's about providing a better tool for enough people that the network effect becomes unstoppable.
Arguing with them is a waste of energy- literally! That hash power could be securing transactions.
You can memorize your wealth and cross a border. anybody can try that with a gold bar all day long
