저자: JackMallers/PeterSchiff · 외국인
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잭 멀러스는 비트코인이 공급량 고정, 이동성, 분할성, 검열 저항성 면에서 최고의 화폐이며 금은 중앙 기관 의존으로 거래 최종성을 확보하지 못한다고 주장한다. 달러 부채 문제로 연준이 통화를 찍어낼 수밖에 없고 비트코인이 최고 성과 자산이라고 말한다(연평균 약 60%, 금 실질 약 2%). 피터 시프는 금 ETF와 금 가격의 상관, 2022년 이후 기관(외국 중앙은행) 금 매입을 근거로 금이 비트코인보다 성과가 좋고, 비트코인은 내재가치가 없어 화폐로 보기 어렵다고 반박한다. 비트코인 금 대비 고점은 2021년 이후 30% 이상 하락 상태라는 점도 제시된다.
다듬은 글
I think for my case for Bitcoin in my opinion it's the best money in human history it's for very fundamental purposes of the properties that we want into money for one it's the scarcest money in human history it's the only monetary asset of all time that has a fixed Supply it's the most portable asset of all time it's the only monetary asset that you can teleport over a Communications Channel like the Internet it's the most divisible asset of all time it can measure an asset that's the size of a grain of sand it can also measure assets the size of sports franchises it is infinitely divisible because of is bites of data it's durable it's portable it's actually censorship resistant to governments and Central parties which gold unfortunately Is Not Gold and Bitcoin both considered valuable assets are often compared in the debate over which is the superior store of value gold a time- tested physical asset has maintained its status as a safe haven investment for centuries on the other hand B Bitcoin the leading digital cryptocurrency is seen as the modern alternative offering decentralized borderless transactions this debate came to life during a recent podcast hosted by David where Jack MERS and Peter Schiff discussed the merits of gold versus Bitcoin Jack MERS discussed Bitcoin historical performance and advantages over traditional Investments highlighting its decentralization and growing popularity while Peter Schiff replied that gold outperforms Bitcoin coin citing its fundamental worth and institutional demand while questioning bitcoin's legitimacy as money due to its lack of inherent value Jack MERS emphasized bitcoin's scarcity mobility and censorship resistance which make it a compelling alternative to traditional money MERS also discussed the limitations of gold such as its Reliance on centralization and inability to establish transaction finality without institutional involvement he also stressed other advantages of Bitcoin in the podcast watch clips from the interview for further insights into Jack M's argument for Bitcoin please like this video subscribe to the channel and turn on post notifications for more content enjoy the video I think anyone in debt traditionally has two options you can either pay it back or default The Catch 22 with the US government and anyone that issues their own nation state currency is they can print and debase the thing that they owe and so we know mathematically the government can't afford its debt and we know that the United States defaulting as the world Reserve currency is not an option and so they have to debase the currency it's their only way out is through they have to print and the financial markets are saying as much in my opinion um interest rates have gone up gold is up bitcoin's up stock market's up and when interest rates were zero and we were living through covid inflationary times Bitcoin up stock market up gold up so I think we're past the point where I I honestly don't even think drone Powell matters as much I think he maybe did up until you know covid but right now it's it's Janet Yellen I think we're living in some early form of fiscal dominance and clearly there's dollar liquidity even though we've had the fastest rate hike ever they've tripped up Banks you've seen gold Bitcoin and US Stock markets all make highs within the last you know few years and so to me Bitcoin has been the most performing asset since it's been invented in in human history if you don't want to take the early number bias over the last decade Bitcoin has an average annual return of around 60% um gold has an inflation adjusted return of annually around 2% over that same duration so I think Bitcoin is better money I think money's compete over monetary policy and I expect Bitcoin to continue to do what it's already done the real problem with gold is that unfortunately it has to centralize the problem is that gold can't achieve transaction finality without the help of a government or a central party meaning that when gold was operating in a local economy and you can exchange the physical coins with your direct counterpart for your butcher your local tailor your grosser whoever you were exchanging with gold was great when the world needed to scale an economy in the velocity of money larger than your local economy gold failed US Gold failed us because gold is just a bare physical metal it does not carry a monetary Network what's the gold Network the gold Network are human beings and when you're trying to transact in an economy of billions of people glob you are reliant on Central parties Banks governments and it was for that reason that gold failed and it it failed in a way that you can't operate a truly free market when the concentrated Supply is with those that you have to trust and so that's fundamentally what Bitcoin solved according to Peter shiff the historical link between gold prices and gold ETF assets under management weakened in 2022 with gold prices climbing despite unprecedented outflows he ascribed this to Institution buyers primarily foreign central banks purchasing gold from retail investors he also pointed out that gold has outpaced Bitcoin regarding price appreciation and market capitalization growth with Bitcoin failing to reach a new gold high since 2021 Peter Schiff questioned bitcoin's legitimacy as money citing its lack of inherent value and limited use Beyond speculation he pointed out that money must have intrinsic worth which Bitcoin lacks in contrast he stated that gold May operate as a better kind of money especially with tokenization and blockchain Technology allowing faster and more efficient transactions Peter Schiff first of all historically at least going back to the formation of uh the gold ETFs uh the price of gold and the assets under management of the gold ETFs have have gone in a positive correlation with one another as the price of gold goes up more people want to buy and so there's more money that's coming into these ETFs in the converse when gold starts to pull back people get nervous and they sell and so as the price of gold goes down uh there's net liquidations out of the gold ETFs well that all broke down uh starting kind of in 2022 but really kicked into gear in late 2023 where we saw an almost parabolic I mean rise in gold gold went up 25% in a short period of time but during the same period of time we saw record outflows from the gold ETFs and I I think not a coincidence they really started to pick up in January of this year when all the Bitcoin ETFs launched and I thought that maybe there were a lot of people ETF investors who were making the switch they were selling uh gold ETFs and buying the Bitcoin ETFs uh but I thought that was a great contrarian indicator because when retail is selling uh it's generally a bullish indicator but the question is if you had all these retail invest selling their gold why' the price go up so much somebody was buying and it was the institutions mainly foreign central banks that were buying the gold that retail investors were selling and interestingly enough I tweeted out today you know since uh those ETFs came public about the second week of of January since the opening trade they're up about you know 16 and a half% but Gold's up 24% during the same time period And if you actually look even though Bitcoin made a new uh nominal record high this year in dollars it never made a new high in Gold the the the high for Bitcoin priced in gold was still back in 2021 and we're more than 30% below that high now uh about three years later so I think the tide has already turned uh where Bitcoin is going to continuously lose value measured in the price of gold uh and especially when you look at the market cap because gold has added a tremendous amount of market cap this year um given how much larger the market cap already was so it's going to be very elusive I hear a lot of people Bitcoin thinks that you know bitcoiners think that it's going to overtake Gold's uh market cap when it's actually been falling further and further behind in market cap related to Gold over these past three years despite all the hype all the ETFs you know Michael micro strategy with Michael sailor El Salvador ETFs all this stuff you know Super Bowl ads massive conferences uh they still can't get uh Bitcoin to make a new high but also you can't ignore all of the hype that's occurred in the past three years that should have driven Bitcoin much higher in fact if you go and look at what all the Bitcoin Bulls were saying uh a year ago six months ago two years ago about where Bitcoin would be nobody thought it would be this low I mean everybody was talking about uh crazy numbers and so it's been very disappointing from that respect now getting back back to your idea that Bitcoin is the greatest money that's ever been invented I I don't think it qualifies as as money at all because money has to be the most marketable commodity uh and the commodity has to have value unto itself and Bitcoin has none uh Bitcoin is used uh to exchange and you could speculate on it you can buy it and maybe somebody else will pay a higher price but apart from that it's not used for anything the way money is supposed to be like gold is uh but you know I'm surprised that you don't recognize this Jack but with the internet and with blockchain or without blockchain gold can actually function as much better money than it ever has in the past and and it did a pretty good job for hundreds or thousands of years because you could take gold you could tokenize it and now I could uh divide it infinitely into tiny little specs I can send it across the world as quickly in fact I can send it faster than can send Bitcoin I can send it for less money than I can set Bitcoin so we could use gold as the basis of a digital monetary system that is much better than when gold was the basis of a paper monetary system in related developments Bitcoin dealers are bullish on the asset's value believing it is grossly undervalued given its current price this feeling comes ahead of a hectic week which includes a presidential debate and the release of vital economic figures Bitcoin traded smoothly over the weekend with minor price changes and low trading volumes other important cryptocurrencies such as ether and salana experienced little change according to presto research analysts bitcoin's undervaluation comes from ignored fundamentals specifically network security they emphasize that the hash rate which measures the processing power used to secure the network has reached an all-time high of xah has per second this indicates a secure network with the possibility for ongoing growth Bitcoin miners have increased capacity since August coinciding with all-time highs in hash rate which usually signal price bottoms Traders are also studying recent us payroll data which indicates a weaker labor market and fewer recession risks since Friday's report lower than expected payroll data has dominated Market sentiment forcing broad assets to fall the forthcoming release of consumer price index CPI and producer pricing index PPI numbers may impact Bitcoin price furthermore the presidential debate between Donald Trump and Camala Harris may impact the cryptocurrency market since both candidates have declared a desire to expand the business Trump wants to make the United States the crypto capital of the world while Harris's advisers are looking into policies to help the business develop the cryptocurrency market is projected to be highly volatile in the runup to the next Federal Reserve meeting with Traders constantly monitoring economic data and political development for potential price moves as we conclude what are your thoughts on this interview who do you think presented a stronger argument in the debate Jack MERS for Bitcoin or Peta shift for gold
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