Armor all shield liquid car wax 500ml bottles
34 comments
Octagon vs bitcoin stocks
From, "The Peter Schiff Show. It's been discussed on the show many times in the past but I have no idea when. I never thought to compile it. But I will from here on.
Peter does not think bitcoin has any intrinsic value. But he does believe in the principle and idea governing it. Discussing Liberty Reserve and bitcoin. Andrew Schiff sounds very bullish on BTC http: He opens his show talking about bitcoin. I just put the whole show up. Talk continues with callers at 1: But he waits until the end of the show and they have no time.
Please listen to the end. He goes on an amusing tangent about Janet Yellen then back to bitcoin. I'm not sure what media he's listening to. First is Peter talking about it. Second he's talking to a caller.
Peter talks about the news that Virgin Galactic is accepting bitcoin as payment for trips to outer space. He has audio clips of Richard Branson. Also takes calls on bitcoin. Eric was The Tom Woods show Dec 11th too. Gox bug and how newcomers may be turned off during bust cycles. He admittedly doesn't understand why they're different.
He takes some calls on it. Plus a caller at the end. On his YouTube video descriptions are links to when he talks about it. Bitcoins have value, but it is a USE value determined by market forces; he is correct in asserting that the value of bitcoin is NOT intrinsic since the digital substance of the blockchains has no other use than as a medium of exchange and store of value.
Were bitcoin to cease being used as money it would have no INTRINSIC value outside of this function, and in this respect it differs from gold and silver which do have substantial intrinsic value.
The vast majority of the valuations of gold and silver is from their usefulness as a store of value this is the only monetary aspect they do well. Consumptive uses are a very small percentage of their value.
However, talking about how the value of something changes if it magically losses it's moneyness seems kind of pointless. By what mechanism would Bitcoin suddenly no longer be money? D metals have all sorts of properties like heating points and conductivity, you'll find gold in small amounts on many of the electronics you use and silver is used in dentistry and other places too because of how soft but strong the metal is.
Bitcoin has been designed very well and I can't think of much better features to add for it but it only does one thing, if you tried to use it for anything else, it just wouldn't work. You couldn't use Bitcoins for industry and you couldn't even really use them for recreation, they've been specifically designed for the task of being a currency. Lethn on June 04, , Yes, there are consumptive uses, particularly for silver.
However, they are a small part. See the cart here: