- Peter Schiff defends gold as real money, in comparison to Bitcoin.
- Michael Saylor said economists are stuck in an outdated money paradigm.
- Bitcoin enthusiasts feel the world has moved on, and gold is no longer relevant.
Economist Peter Schiff takes a stand for gold in comparison to digital currency such as Bitcoin. Schiff counters a comment made by Bitcoiner Micheal Saylor where he showed criticism towards economists,
Saylor pointed out that economists are trapped in a traditional monetary paradigm that has consistently failed for thousands of years. The Bitcoiner also believes that Bitcoin is an engineered money, without any defects from its predecessors.
You're trapped in a bubble. Gold hasn't consistently failed as money for thousands of years, it has consistently succeeded. It's governments and paper money that have failed, not gold. In contrast, Bitcoin has yet to succeed as money, and never will.— Peter Schiff (@PeterSchiff) December 26, 2022
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