Days like today make it clear that Bitcoin is not digital gold. We got bad economic news that sent gold and the Japanese yen up 2.2% and the euro up 1.5%. The NASDAQ went the other way, falling 2.2%. Bitcoin tanked 3%, tracking high-risk assets lower, not safe havens higher.
— Peter Schiff (@PeterSchiff) August 1, 2025
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Nothing of any tangible value backs bitcoin, it’s as risky as the dollar is.
Precious metals, gold silver, platinum, palladium and copper have tangible value. These are what we should invest in, and ammo, don’t forget ammo.
Nothing backed by nothing is worth nothing.
The hubbub about digital currency is about convincing people to accept it.
Our chains are being forged, not of steel, but of ones and zeros.
Bitcoin is just high risk vaporware. If you’ve got money to risk, sure, you can make a lot more FRNs. But without modern infrastructure it ceases to exist.
You don’t need data to prove its not digital gold. Gold is REAL, not ethereal electrons that will vanish the minute TPTB decide to shut down the grid or the internet. Gold has endured and always will.
Digital anything is not even fool’s gold- at least you can touch and hold fool’s gold…who really believes electricity will be untouchable- let alone software???
Cost me A LOT of money (taxes, market gains) to convert my assets from paper/digital into assets I stand on or have in my possession. A bird in the hand philosophy. Time will tell if I was correct.
I remember when I first heard about BitCoin. It was trading at 50 cents. I told the guy who was trying to educate me on what it was that it sounded like one of the dumbest scams I’d ever heard of. If I’d spent $100 back then, I would have $23 million, today. Believe you me, a large portion of that would have been converted to precious metals and other tangible assets. Coulda, shoulda, didn’t.