In this video Mikhalia Peterson is joined by Peter Schiff and Robert Breedlove who outline their views on Bitcoin and crypto.
While this synopsis touches on the points outlined by the two great asset managers, to truly understand the premise of their opinion this is a must watch.
Peter Schiff puts crypto into context of the Federal Reserves mismanagement of the USD via infinite USD printing which started in 08, this has allowed crypto to be used as collateral against fiat / USD.
He does not think that anyone really wants crypto.These investors only want what they could buy with the conversion of crypto into a fiat currency because most crypto investors expect a huge price rise.
This is likened to a ledger / paper wealth game. If all investors of crypto saw huge price rises and wanted to take profit by conversion into fiat and selling, the mass sell off would implode the price of the crypto, which would fall to near zero.
He is no fan of the Fed nor any central bank, but does not think that the decentralized nature of crypto is a huge advantage. He highlights the example of Uber which began as an unregulated entity that out competed traditional taxi services, however within a year Uber was forced into regulations (Health and Safety, Labour) which saw its competitive advantage being negated. He thinks that the governments need to regulate will see crypto fall prey to the same.
Robert Breedlove outlines the crypto's intrinsic value is because it is the most superior form of money / value. The moniker "Gold 2.0" was given to crypto because it has defined absolute scarcity as the algorithm's supporting creation ensure that there will only ever be a finite pool of the crypto available.
Seems you entered wrong password click here to enter password again.