Peter Schiff won over Anthony Scaramucci and BTC by convincing more than half of the audience alive debate That gold is an excellent asset. The debate was hosted by Intelligence Squared and featured an almost hour-long discussion on whether BTC or gold is contributing to better value retention.
Public vote goes against BTC
The pre-debate score was 26% for BTC, 38% for gold and the remaining 35% were undecided. That means there was something to play for. But at the end of the debate came the final vote – 32% for BTC, 51% for gold and 17% undecided.
Commenting on the victory, Schiff mentioned Michael Saylor and his rejection of a lively debate on the same issue. Scaramucci congratulated Schiff and told everyone to do more homework on the matter. Schiff responded by saying that he had done his homework, but remains unconvinced.
Scaramucci said the debate made him buy even more BTC.
Cases of BTC use
Scaramucci opened the debate by saying, “It is possible to be in an intellectual dispute, but still be friends.” He then referred to a younger population that favors a newer and more technological store of values.
He said that before BTC’s arrival, two parties who knew or trust each other had no way of doing business without the involvement of a third party.
In addition, BTC offers easier portability, better security when counterfeits and is rarer. Scaramucci therefore thinks that these factors mean that BTC will eventually overtake gold as its primary store of value.
Cases of gold use
Schiff entered the debate with the words that BTC and gold have “absolutely nothing in common”.
He considers it a marketing scam to portray BTC and gold as similar things. He added that BTC, as a string of numbers, did not share any resemblance to gold.
“Part of the marketing scam is to try to portray BTC as gold, 2.0 gold, digital gold. I mean, BTC itself is always depicted as a “B” coin. But it’s not a coin, it’s just a digital string of numbers. “
Schiff said gold has real uses in aviation, dentistry and jewelry, for example. And what makes it a store of value is that it can be saved for future use.
“In 100 years, in 1000 years, the gold I store today can be melted down and used in industry even for new methods that have been invented and do not even exist today. BTC cannot be a store of value because it has no real value to store. In other words, people cannot use BTC for anything other than speculative purposes. ”