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    1. coinfeeds-bot on

      tldr; During Binance Blockchain Week, Peter Schiff, a gold advocate, failed to authenticate a gold bar presented by Binance co-founder Changpeng ‚CZ‘ Zhao, highlighting challenges in verifying physical gold. The discussion compared gold and Bitcoin as stores of value, with CZ emphasizing Bitcoin’s advantages in divisibility, portability, and verifiability. The debate also touched on tokenized gold’s limitations, including centralization and counterparty risks, contrasting with Bitcoin’s decentralized and easily verifiable nature.

      *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

    2. Not a fan of CZ, but here he is right.

      Investing in tokenized gold, as Schiff suggests, just means you trust that whatever firm you invest in ACTUALLY has any gold.

    3. Dedsnotdead on

      Investing in tokenized gold is a fools game, buying physical gold and verifying that it’s actually gold is probably a good move.

      The issue then is how do you pay someone with that gold?

      Both Bitcoin and real physical gold have their place and are important.

      Schiff knows the gold market is heavily rigged and each ounce has been sold several times over.

    4. Double-Tap9336 on

      I can add that silver has gone on a huge run, but local gold and silver places are bending over anyone trying to unload 90 percent coins. I went to see where they were price wise when it was over 58 dollars an ounce (which priced melt at 42 dollars for each 1$ face and they offered 32$ face). I asked if it was common to take a 25% haircut to spot and they said that’s what they would pay… There is no comparison between that bullshite and the ease of selling BTC 24/7.

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