Comments by "" (@foxmoongaze) on "Peter Schiff \u0026 Jack Mallers Debate Bitcoin Vs. Gold, Collapse Of Dollar" video.

@jesselivermore9285 silly comparison as people don't claim email to be money... but it might make sense to someone who yells at books because they are not digital 🤣
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@cheesyandy1 Just thinking ....... One way might be to just wait until you try to use it and trap/catch your bitcoin at point of sale. Denying all legal transaction with it could prevent 99% use of bitcoin and render it effectively worthless - no need to have your keys. The same might be done to gold, but I guess would be much less effective as gold doesn't need any hardware, software or third party involvement at all.
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@greedykidify Prices go up when there is an abundance of money compared to the things people want/need to buy. Famous art pieces are one of a kind and their price is determined by demand and the abundance of spending money in buyers pockets. Same with classic cars, houses, and bitcoin.
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@gwynedd1 I don't hear argument or condescension, I hear an observation that BTC has only ever existed in a time of huge currency inflation which doesn't really give an idea of value as money pours into places that would never exist or price so high without the currency bubble.
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Why do some call bitcoin a Ponzi? Is it because the bitcoin price has to keep going up or it won't be worth the miners effort, and so, new buyers have to be constantly brought in to push the price up?
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@overwhelmingevidence4836 Anything can be confiscated, even digital assets. Physical gold confiscation would be almost impossible (as easy to hide) and not cost effective to attempt except for very large holdings. FDR only managed to get about 25% in the 1930s and even that was because people were patriotic. It's more likely that they will take control at the point of sale/trade by tokenizing everything and registering ownership to an ID. This way you won't be able to take legal ownership without revealing how it was purchased - if gold or bitcoin is illegal they've got you.
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@cheesyandy1 It's not just about "compromised" vendors, for instance, anything that requires registration, declaration of ownership, or services can have the purchase method questioned. Bitcoin records all transactions on it's block chain .........
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@jackcrook4435 Well, a few people may have at the time, but a guitar is a guitar and going electric was like changing from gold bars to gold coins.
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@georgevaccaro9379 Anything that's registered in any way could be a problem, and bitcoin has a complete ledger of transactions in it's block chain....
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@georgevaccaro9379 To avoid third parties would you not need to run your own bitcoin node, and your trading counter party would need to trust you (your node)?
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@magi6969 Err, bitcoin is a peer to peer payment system, what point are you trying to make?! You need a bitcoin node to process a transaction, this is usually a run by a third party as most people don't/won't be running their own node. Any third party can potentially be an issue. Either way, the bitcoin blockchain records every transaction, and all transactions public, you have to hope the identities tied to them remain hidden.
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@magi6969 Err, yes, bitcoin is a peer to peer cash payment system - what's your point?
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@LoloLovesLife You can ban a thing, but it meaningless unless you actively do something to stop it - true for gold, drugs etc. Nigerians look for anything to use instead of their own failing currency, so everything else that can be traded has had immense increased adoption, bitcoin is just one of those things. For countries that do take action, another problem for bitcoin holders is that bitcoin carries it's history with it, so if any of your coins have been previously used for undesirable/illegal use they would be classed as contraband and could be seized - it's already happened in several countries in the west.
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So, every fraction of BTC in a wallet can be traced back to its source, and if the administration issues an order that any BTC that has ever been held in the wallet of an undesirable becomes contraband, you'd be screwed? Bitcoin isn't fungible and I would not swap a nice clean bitcoin for one previously owned by a Russian Oligarch - would you?
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A thought about bitcoin. From what I understand most of the bitcoin is already owned by a few. As over 90% of bitcoin has already been mined how can it be of use to the world in general? Surely bitcoin is the most skewed asset in terms of distribution in the world? Would not bitcoin turn into a dollar problem on steroids, along with a shift of wealth from the current few to a new few? Just saying...... might be wrong....
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