What did he mean by this

he is wrong.

The reason gold holds value so well, and doesn't have as much volatility as currencies, is because they ARE NOT USED AS CURRENCIES.

If everybody starts using it as a currency, it becomes worthless in it's traditional form.

I meant for value not making things.

Nigger how the fuck are you going to carry around a block of fucking metal to get a snickers bar at the store.

That was why we invented fucking paper money you retard.

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Paper money used to be backed by gold. Now it's turned into a ponzi scheme of the highest caliber.

.50 cal? Like a Ma Deuce?

(((schiff)))
crypto jew name

That is not why paper money came along, at all. A gold/silver/whatever coins value is backed by its own precious content. Paper is a promise that there is value behind it, not that the paper itself is worth anything. There is a reason gold bugs exist.

paper is easier to carry you retard. When we were cave people we used fucking rocks probably then switched to something easier to lug around. It is common sense. You have to be retarded or trolling. I am not going to carry around 600 dollars of gold bars down the street

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This, typical boomer. Stopped listening after this.

And the coin itself does not hold value, the value is in the amount of computing power needed to process a transaction.

>muh phsyical
>muh 'intrinsic value'

goldmoney is fucking stupid because unlike bitcoin it's 100% centralized. Their idea has been tried before. It was called egold. And as soon as egold got big enough, guess what happened? That's right. They were raided and shut down, and the owners charged with crimes. The same thing would happen to Schiff too, except goldmoney is a total failure not worth the government's time

his argument is that anyone can create a clone of bitcoin, thus there is an infinite number of coins. What he doesn't understand is that coins are only part of the equations. The network effect, the hash power, etc, cannot be copied in the same way the bitcoin source can. Sure anyone can make their own coin, but nobody will use it. That's where the 'infinite coins' argument falls apart

fucking rekt, checked, and kekd

I stack silver and I think Schiff is a tool. He always says the sky is falling. He literally sells gold dude, it's in his business. Schiff talks like the only book he read is Atlas Shrugged.

I like the concept of Goldmoney and I am interested in having a wealth holding with them but Schiff's attachment to the company gives me pause. I don't know how he got involved but he was part of Goldmoney very shortly after this podcast.

He's right about some stuff but something seems off to me about that guy.

Also, I really want a fucking silver debit card. I could skip the gold one because I would be paranoid about it being stolen.

>gold bars
>$600

lurk moar

i wanna see his response to people painting led bars with gold and putting them on the market.

no like a 20mm recoilless rifle

$600 worth of gold isn't even a half ounce brainlet

check em

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>thinks $600 of gold is several bars
And I'm the trolling retard.

>The network effect
Is it just me or do most boomers completely ignore network effects? Is that a fundamental difference between younger generations who grew up with things like the internet and cell phones and older generations who didn't?

also he made an an argument in the video about alchemy. Thats a shit argument. People are making diamonds now. only a matter of time before some chemist figures out how to reproduce gold

Damn, son.

He's right about Bitcoin having no value, but he's missing out on the actual practically useful coins/tokens. Also his idea that gold is just as easily transferable as crypto is b.s. since the gold doesn't actually move. Still a gold backed currency would be way better than the current fractional reserve central banking system.

>$600 worth of gold isn't even a half ounce brainlet

It depends on the quality of the gold you retard. You don't even know there is different karats of gold

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nah, I'm sure they get it. Old dinosaurs like Schiff saw the network effect of telephones, television, and so on. So he knows about it. But somehow, when you include 'compootors' in the equation it somehow becomes incomprehensible in the boomer's mind

so then gold's value should decrease to only what its worth in use? so its currently overvalued 10x?

Silver debit card with silver stored on it would be cool. GoldMoney just reminds me of e-gold that was a gold backed digital currency for 10+ years online before the US gov shut it down for being an unlicensed money transmitter. If they still existed they probably would have turned into GoldMoney.

But really if we have a debit card that turns crypto to fiat during a swipe, and then an actual gold back crypto, we'd get the same thing as goldmoney.

seeAre you people really this stupid. You can get cheap cuts of fucking gold and "bar" is a loose term......... The point is people don't use gold because it is heavy and hard to carry so they switched to paper.

stop

I do not understand why anyone gives this man an ounce of credence. I do not understand where his fanbase came from. I do not understand what his brand signifies.

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>Having a knowledge of chemistry this poor

with your knowledge now, Do you think it would ever be possible in the future for humans to recreate gold.

>stop

no you fucking stop. this is a 590.61 US Dollar gold bar

jesus fucking christ

you people are actually retarded.

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Also I think he's trying to capture the whole libertarian crowd with his "GoldMoney" thing. BitCoin... GoldMoney... I still might take a look at it though.

We already can, it's not worth it for how much it costs to do so.

so im not wrong in my thinkng then. So when something comes along and makes the process cheap to produce whats schifs argument then?

I wouldn't be surprised if you could accidentally inhale a 10g "bar".

Stack silver if you can't afford at least 500g bars - it's more satisfying and it's historically cheaper. You only stack gold if stacking silver is too much of a storage issue - or you're anticipating needing to be able to bug out fast.

:)

Diamonds are merely a reconstructed format of carbon. You're made of carbon, the graphite in a pencil is made of carbon, coal is made of carbon and a diamond is made of carbon - it's merely the format of the arrangement of the element - but it's all carbon. So when someone makes a diamond they are taking carbon and using heat and pressure to rearrange the carbon's molecular structure.

Gold is also an element. But when you're talking about "making" gold it's akin to "making" carbon. Now as it happens gold is a very dense metal and the conditions which produce it in this universe is the interior of stars.

Can we simulate the conditions of the interior of a star to make gold? Yes. But in minuscule, atomic quantities which require particle colliders and totally uneconomic quantities of energy. It would be an infinitely more economic use of time and energy to mine gold from asteroids.

However of course, beyond it's industrial use, it's monetary role sort of belies that up to a certain extent because it's value is in part its rarity. The more gold you mine from asteroids the less economical it would be.

And it's a while before we're doing that yet.

*its
*its

Joe "The (((Jew)))" Rogan
nice try op

thanks for taking it easy on me

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type in google same size "bar" as that

you're a fucking retard

shut the fuck up talking about things you have no fucking clue about you cunt

lmao

>when we were cave people we used rocks
citation needed
>i am not going to carry 500 dollars of gold bars down the street
why not? they would literally fit in your sock. 600 dollars worth of gold could fit in your mouth.. or you know, on a necklace or a ring...

t. Szabo

It will easier and earlier to mine asteroids. One football sized asteroid has 1 trillion rare earth minerals and palladium and gold. Soon as space mining becomes a thing we are post scarcity of all minerals and metals.

Generally don't mind this goy but he just sounds fucking delusional here. He obviously understands gold needs to be in the computer but why will he not accept that bit coins is the gold physically inside the computer.

What the fuck is he clutching at these goldsmith IOUs and vaults and mailing shit around, how are these things anything other than a waste of fucking time. Fucking debit card made out of gold what a faggot. He has managed to convince me that bit coins literally are the future

> not using gold to fight censorship

>citation needed

PETER IS SAYING WE SHOULD GO BACK TO ROCKS OKAY.

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>Peter Schiff
>goy

good point

That was funny. But for me the funniest of all was
>crypto is a ponzi
>the great thing about goldmoney is they have this referral program, and you get a reward for every person you invite
Lmao cant make this shit up. What a fucking scamming boomer

yea creating diamonds is trivially easy compared to creating gold.

even the largest stars don't actually fuse gold even in their late stages. the largest elements in the core are iron then at nickel (atomic number 28. 28 protons) fusion it just requires too much energy; the core would require compression beyond the chandrasekhar limit so at this point at nickel fusion the star collapses.

all larger elements are formed by supernova.

gold is a large element with 79 protons. it literally takes giant exploding stars to create it. we might be able to make diamonds sure but we won't be making gold in any meaningful or commercial quantities. like user said we will get it from asteroids

they actually make cryptocurrencies like digixdao to represent a store of gold. top kek we've come full circle.

>calls bitcoin ponzi
>shills his goldmember referral bullshit

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Cant manage to carry a 1/2 oz