Peter Schiff On Why Bitcoin Can NEVER Be Real Money

Описание: In this clip from the IEA Podcast, economist Peter Schiff explains why cryptocurrency, particularly Bitcoin, fundamentally fails as money. Schiff notes that while he supports free market monetary alternatives, Bitcoin skips the essential "commodity phase" that gives sound money its underlying value. Unlike gold, which has intrinsic worth as a useful metal with unique properties, Bitcoin relies purely on confidence and belief. Schiff argues that Bitcoin's fatal flaw is that it can never truly be a store of value because "it doesn't have any value that it can store."

Schiff discusses why he believes the cryptocurrency industry has managed to capture political support despite its flaws, describing it as "ultimate rent seeking" as politicians are "bought and paid for by the industry." While defending people's right to use Bitcoin if they choose, he doesn't hold back on labelling much of crypto as fraudulent - designed to exploit ignorance and greed through pump and dump schemes. This clip offers an Austrian economics perspective on cryptocurrency that challenges the prevailing digital asset narrative.

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