Opposing Views: Is Bitcoin The Future? | Peter Schiff & Robert Breedlove - MP Podcast #124

The video is about the opposing views on whether Bitcoin is the future or not. The speaker, Mikhaila Peterson, interviews two guests, Peter Schiff and Robert Breedlove, to discuss their perspectives on Bitcoin and its potential as a future currency. Schiff is an American economist, stockbroker, and author who is known for predicting economic shifts and events. He is not a fan of cryptocurrencies and believes that they are a pyramid scheme that benefits those with access to newly printed money at the expense of others. Breedlove, on the other hand, is a crypto enthusiast who strongly believes in the potential of Bitcoin as a store of value and a means of payment. He is also an entrepreneur, philosopher, and the host of the "What is Money" show. The video explores the pros and cons of Bitcoin and its potential as a viable alternative to traditional currencies.

This video by Mikhaila Peterson was published on Nov 9, 2021.
Video length: 01:44:06.

The video is about the opposing views on whether Bitcoin is the future or not.

Mikhaila Peterson interviews two guests, Peter Schiff and Robert Breedlove, to discuss their perspectives on Bitcoin and its potential as a form of currency and investment. Peter Schiff, an American economist, stockbroker, and author, is not a fan of Bitcoin. He believes that it is a hot topic and that people are putting their life savings into it without fully understanding the risks involved. Schiff predicts economic shifts and events, and has been a regular guest on national news and host of the Peter Schiff Show podcast. Robert Breedlove, on the other hand, is a crypto enthusiast who strongly believes in the potential of Bitcoin. He is an entrepreneur, philosopher, and host of the What is Money Show, where he has deep discussions with prominent thinkers from around the world. The video covers a range of topics related to Bitcoin, including its potential as a store of value, its volatility, and its impact on the economy. The guests also discuss the role of government and central banks in regulating Bitcoin and other cryptocurrencies.

Overall, the video provides a balanced view of the opposing views on Bitcoin and its potential as a form of currency and investment.

• The video is about the opposing views on whether Bitcoin is the future or not.
• Peter Schiff is an American economist, stockbroker, and author who is not a fan of cryptocurrencies, while Robert Breedlove is a crypto enthusiast who strongly believes in the potential of Bitcoin.
• Schiff believes that the operating mechanics of fiat currency are a really bad deal for everyone unless you have access to that new liquidity first.
• Breedlove believes that Bitcoin is a better alternative to traditional currencies and has the potential to change the world.
• The video provides a balanced view of the potential of Bitcoin as a future currency and encourages viewers to consider the pros and cons before making a decision.
• The Federal Reserve has been inflating for decades, with Alan Greenspan being a key figure in this process.
• The current focus is on moving from bubble to bubble, but there is fear of allowing market forces to restructure the economy as it needs to be.
• There are over 12,000 cryptocurrencies, with new ones being created every day.
• Real resources, energy, and manpower are being used to create these cryptocurrencies, but they are not being used to produce actual goods and services that people need.

Opposing Views: Is Bitcoin The Future? | Peter Schiff & Robert Breedlove - MP Podcast #124 - YouTube

Introduction

• The video is about the opposing views on whether Bitcoin is the future or not.
• The speaker, Mikhaila Peterson, interviews two guests, Peter Schiff and Robert Breedlove, to discuss their perspectives on Bitcoin and its potential as a future currency.
• Schiff is an American economist, stockbroker, and author who is known for predicting economic shifts and events.
• Breedlove is a crypto enthusiast who strongly believes in the potential of Bitcoin as a store of value and a means of payment.

Peter Schiff's View

• Schiff is not a fan of cryptocurrencies and believes that they are a pyramid scheme that benefits those with access to newly printed money at the expense of others.
• He predicts economic shifts and events, and is a regular guest on national news and host of the Peter Schiff Show podcast.
• Schiff believes that the operating mechanics of fiat currency are a really bad deal for everyone unless you have access to that new liquidity first.
• He believes that people who put their life savings into Bitcoin or other cryptocurrencies are taking a huge risk.

Robert Breedlove's View

• Breedlove is a crypto enthusiast who strongly believes in the potential of Bitcoin as a store of value and a means of payment.
• He is also an entrepreneur, philosopher, and the host of the "What is Money" show.
• Breedlove believes that Bitcoin is a better alternative to traditional currencies and has the potential to change the world.
• He believes that people who put their life savings into Bitcoin or other cryptocurrencies are making a smart investment.

Opposing Views: Is Bitcoin The Future? | Peter Schiff & Robert Breedlove - MP Podcast #124 - YouTube

Conclusion

• The video explores the pros and cons of Bitcoin and its potential as a viable alternative to traditional currencies.
• The speaker, Mikhaila Peterson, interviews two guests, Peter Schiff and Robert Breedlove, to discuss their perspectives on Bitcoin and its potential as a future currency.
• Schiff is an American economist, stockbroker, and author who is not a fan of cryptocurrencies, while Breedlove is a crypto enthusiast who strongly believes in the potential of Bitcoin.
• The video provides a balanced view of the potential of Bitcoin as a future currency and encourages viewers to consider the pros and cons before making a decision.

Section 1: Introduction

• Mikhaila Peterson is the host of the Peter Shift Show podcast.
• She talks about economics, finance, politics, and puts a free market, libertarian, Austrian economics spin on everything.
• She believes that her podcast provides a more accurate view of what's going on than conventional media sources.
• The video discusses the current state of inflation and the potential impact of cryptocurrencies on the economy.

Section 2: Inflation and Cryptocurrencies

• The Federal Reserve has been inflating for decades, with Alan Greenspan being a key figure in this process.
• The current focus is on moving from bubble to bubble, but there is fear of allowing market forces to restructure the economy as it needs to be.
• The process would involve some pain, such as asset prices falling, loans defaulting, investors losing money, and workers losing jobs.
• However, many of these losses would be temporary, as workers who lose jobs can get the right jobs and the process can lead to a more efficient economy.

Section 3: Cryptocurrencies and Inflation

• There are over 12,000 cryptocurrencies, with new ones being created every day.
• Real resources, energy, and manpower are being used to create these cryptocurrencies, but they are not being used to produce actual goods and services that people need.
• People are buying cryptocurrencies because they think they will make them rich and allow them to buy products that are not being made.
• The prices of these goods and services are going to be going ballistic, and people are dismissing the initial reaction as transitory and temporary.

Section 4: Conclusion

• The video discusses the current state of inflation and the potential impact of cryptocurrencies on the economy.
• The Federal Reserve has been inflating for decades, and the current focus is on moving from bubble to bubble.
• Cryptocurrencies are one of the bubbles that has been inflated by the Fed, and they are not being used to produce actual goods and services that people need.
• The prices of these goods and services are going to be going ballistic, and people are dismissing the initial reaction as transitory and temporary.

Section 1: Cryptocurrencies and Real Estate

• Cryptocurrencies are helping to fuel real estate prices in some areas.
• Many crypto people are moving to areas with lower costs of living.
• The ability to spend cryptocurrency is limited to what someone else can buy.
• The value of cryptocurrency is determined by the demand for it.
• The crypto community could create money through debt, which is a byproduct of inflation.

Section 2: Inflation and Cryptocurrencies

• Inflation is about creating too much money.
• Printing more money and having a certain supply of goods and services can lead to inflation.
• The cryptocurrency industry is magnifying the inflation problem by diverting resources away from productive use.
• There is too much cryptocurrency but not enough real things people need and want.
• People want to buy things in the future when they sell their cryptocurrency, but there is nothing to buy if everyone is just making cryptocurrencies.

Section 3: Feasibility of Cryptocurrencies as a Medium of Exchange

• Cryptocurrencies are not feasible as a medium of exchange for everyday use.
• The price of cryptocurrency is too volatile to be used as a unit of account or medium of exchange.
• Only a few people could potentially use cryptocurrency as a medium of exchange.
• The only thing people have is cryptocurrency and other forms of currency.
• People use cryptocurrency as a token for gambling, not as a medium of exchange.

Section 4: Cryptocurrencies and Travel

• Cryptocurrencies can be used for international wire transfers without fees.
• The cost of wire transfers can be high, and there are fees associated with it.
• Cryptocurrency can be transferred internationally without fees.
• The cost of a wire transfer can be high, and there are fees associated with it.
• Cryptocurrency can be used for travel expenses, such as hotel rooms and meals.

The Advantages of Bitcoin

• Bitcoin is not subject to government regulations, which makes it faster and cheaper to transfer.
• Bitcoin is not subject to inflation, unlike traditional currencies.
• Bitcoin is decentralized, meaning it is not controlled by any government or institution.
• Bitcoin is secure and resistant to hacking and fraud.
• Bitcoin has the potential to be used as a store of value and a means of payment.

The Disadvantages of Bitcoin

• Bitcoin is highly volatile and its value can fluctuate rapidly.
• Bitcoin is not widely accepted as a form of payment, which limits its usefulness.
• Bitcoin is not backed by any government or institution, which can make it less stable.
• Bitcoin is not regulated, which can make it more susceptible to fraud and abuse.
• Bitcoin is not easily accessible to everyone, as it requires a certain level of technical expertise to use.

The Future of Bitcoin

• Government regulations are likely to increase, which will make Bitcoin more expensive and slower to transfer.
• The market value of Bitcoin can implode, which will increase the risk to the owner.
• Bitcoin is not a long-term store of value, as it is highly volatile and subject to inflation.
• Bitcoin is not widely accepted as a form of payment, which limits its usefulness.
• Bitcoin is not backed by any government or institution, which can make it less stable.

Alternatives to Bitcoin

• Gold has functioned as a monetary medium for thousands of years and can be used as a store of value.
• Paper currencies backed by gold can be used as a substitute for Bitcoin.
• Digital currencies backed by gold can be used as a substitute for Bitcoin.
• The US dollar is a widely accepted form of payment and can be used as a store of value.
• Other cryptocurrencies, such as Ethereum and Litecoin, are alternatives to Bitcoin.

Section 1: Gold as a Store of Value

• The speaker, Mikhaila Peterson, interviews two guests, Peter Schiff and Robert Breedlove, to discuss their perspectives on Bitcoin and its potential as a future currency.
• Peter Schiff is an American economist, stockbroker, and author who is known for predicting economic shifts and events.
• He is not a fan of cryptocurrencies and believes that they are a pyramid scheme that benefits those with access to newly printed money at the expense of others.
• Robert Breedlove is a crypto enthusiast who strongly believes in the potential of Bitcoin as a store of value and a means of payment.
• The speaker, Mikhaila Peterson, personally thinks that gold is underpriced relative to other commodities and has an opportunity for speculative development.

Section 2: Gold Mining Stocks

• The speaker, Mikhaila Peterson, believes that the real value of gold is going to go up in real and nominal terms.
• She thinks that gold mining stocks are going to make a lot more money than analysts currently believe, and that the price of gold is currently too low.
• The speaker suggests that people who are gambling in cryptocurrencies should consider investing in gold and silver mining stocks as an alternative.
• She believes that gold and silver mining stocks have a bright future and that Bitcoin does not have a future.

Section 3: Bitcoin as a Future Currency

• The speaker, Mikhaila Peterson, suggests that people should avoid Bitcoin altogether.
• She believes that Bitcoin is a pyramid scheme that benefits those with access to newly printed money at the expense of others.
• The speaker suggests that people should focus on investing in gold and silver mining stocks instead of Bitcoin.
• She believes that Bitcoin does not have a future and that it is a speculative bubble.

Section 4: Cryptocurrency Investing

• The speaker, Mikhaila Peterson, believes that people should be free to make their own mistakes and that young people who are into cryptocurrency will learn valuable life lessons from the money they lose.
• She believes that cryptocurrency investing is a valuable life lesson and that people should be allowed to make their own decisions.
• The speaker suggests that people should focus on investing in gold and silver mining stocks instead of Bitcoin.
• She believes that Bitcoin is a pyramid scheme and that people should avoid it.

Section 1: Criticism of Bitcoin

• Mikhaila Peterson is critical of Bitcoin and its potential as a future currency.
• She believes that Bitcoin is a pyramid scheme that benefits those with access to newly printed money at the expense of others.
• She is concerned about the way mainstream media and investment communities have jumped on the Bitcoin bandwagon and are encouraging people to gamble in it.
• She believes that this is due to advertising money and that the network is sacrificing its audience to placate its advertisers.
• She is also critical of the way people who pump Bitcoin are validated by the media and that their arguments are seen as valid as long as they lead to Bitcoin.

Section 2: The Problem with Older People

• Mikhaila Peterson believes that the problem with Bitcoin is that older people are putting their retirement and IRA money into it.
• She believes that this is a problem because it is a gamble and that people are not fully understanding the risks involved.
• She is concerned that this could lead to people losing their retirement savings and that it is a problem that needs to be addressed.
• She believes that the mainstream media and investment communities are not doing enough to educate people about the risks involved with Bitcoin.
• She is also concerned that the advertising money is leading to a lack of transparency and that people are not fully understanding the risks involved with Bitcoin.

Section 3: The Problem with Mainstream Media and Investment Communities

• Mikhaila Peterson believes that the problem with Bitcoin is that mainstream media and investment communities have jumped on the Bitcoin bandwagon.
• She believes that this is due to advertising money and that the network is sacrificing its audience to placate its advertisers.
• She is concerned that this is leading to a lack of transparency and that people are not fully understanding the risks involved with Bitcoin.
• She is also concerned that the way people who pump Bitcoin are validated by the media is leading to a lack of transparency.
• She believes that this is a problem that needs to be addressed and that more education is needed about the risks involved with Bitcoin.

Section 4: The Future of Bitcoin

• Mikhaila Peterson does not have a guess about the time frame for Bitcoin.
• She believes that the future of Bitcoin is uncertain and that it is a gamble.
• She is concerned that the way people who pump Bitcoin are validated by the media is leading to a lack of transparency.
• She believes that more education is needed about the risks involved with Bitcoin.
• She is also concerned that the way people are buying Bitcoin is leading to a lack of transparency and that it is a problem that needs to be addressed.

Section 1: Introduction

• The speaker, Mikhaila Peterson, is interviewing two guests, Peter Schiff and Robert Breedlove, to discuss their perspectives on Bitcoin and its potential as a future currency.
• Peter Schiff is an American economist, stockbroker, and author who is known for predicting economic shifts and events.
• Robert Breedlove is a crypto enthusiast who strongly believes in the potential of Bitcoin as a store of value and a means of payment.
• The speaker, Mikhaila Peterson, is Jordan Peterson's daughter, podcaster, lifestyle and diet researcher, founder, and mother.

Section 2: Peter Schiff's Views

• Peter Schiff believes that Bitcoin is a pyramid scheme that benefits those with access to newly printed money at the expense of others.
• He is not a fan of cryptocurrencies and believes that they are not a viable alternative to traditional currencies.
• Schiff predicts that the bubble in Bitcoin will eventually burst, and the market will crash.
• He believes that the risk-reward ratio of investing in Bitcoin is not there, and people are not buying it because they think it will double or triple in value.
• Schiff believes that the odds of Bitcoin reaching $100,000 or more are astronomically low.

Section 3: Robert Breedlove's Views

• Robert Breedlove strongly believes in the potential of Bitcoin as a store of value and a means of payment.
• He believes that Bitcoin has the potential to replace traditional currencies and become the future of money.
• Breedlove believes that the price of Bitcoin will continue to rise and eventually reach $100,000 or more.
• He believes that the risk-reward ratio of investing in Bitcoin is there, and people are buying it because they believe it has the potential to double or triple in value.
• Breedlove believes that the odds of Bitcoin reaching $100,000 or more are not astronomically low, and it is a viable alternative to traditional currencies.

Section 4: Conclusion

• The speaker, Mikhaila Peterson, believes that there is not much left on the upside for Bitcoin, and the risk-reward ratio of investing in it is not there.
• She believes that people are not buying Bitcoin because they think it will double or triple in value, but because they believe it has the potential to become the future of money.
• The speaker believes that the odds of Bitcoin reaching $100,000 or more are low, and it is not a viable alternative to traditional currencies.
• She believes that the bubble in Bitcoin will eventually burst, and the market will crash.
• The speaker believes that the price of Bitcoin will continue to rise, but it will not reach $100,000 or more.

Section 1: Bitcoin as an Inflation Hedge

• The speaker, Mikhaila Peterson, interviews two guests, Peter Schiff and Robert Breedlove, to discuss their perspectives on Bitcoin and its potential as a future currency.
• Peter Schiff is an American economist, stockbroker, and author who is known for predicting economic shifts and events.
• He is not a fan of cryptocurrencies and believes that they are a pyramid scheme that benefits those with access to newly printed money at the expense of others.
• Robert Breedlove is a crypto enthusiast who strongly believes in the potential of Bitcoin as a store of value and a means of payment.
• Schiff argues that Bitcoin cannot be an inflation hedge because it has no inherent value and cannot be used to purchase goods and services.

Section 2: The Narrative of Bitcoin

• The narrative of Bitcoin is currently centered around the idea of buying and holding, with the belief that the price will continue to rise.
• This narrative is driven by the fact that people do not want to sell their Bitcoin, which keeps the price going up.
• However, if new money stops coming in and the old money wants out, the price could crash.
• This could happen if there is a shift in the market or if regulations are put in place that make it more difficult to buy and sell Bitcoin.

Section 3: The Value of Bitcoin

• One of the values people find in Bitcoin is its decentralized nature, which allows them to get away from governments and financial institutions.
• However, the government does not want people to get away from it, and new regulations are being put in place to control the use of Bitcoin.
• Companies like Uber and Airbnb also had values that were decentralized, but they were eventually regulated by the government.
• Bitcoin tries to pass on the savings of escaping government scrutiny and regulation, but this cannot be sustained for long.

Section 4: The Allure of Bitcoin

• Bitcoin has gone beyond its initial value as a means of getting away from governments and financial institutions.
• Many people are buying Bitcoin simply because they want to get rich, regardless of their beliefs about limited government or the federal reserve.
• Advertisers are also showering people with money to buy Bitcoin, further fueling its popularity.
• The allure of Bitcoin has made it a cult-like religion for some people, with a case of cognitive dissonance that prevents them from seeing reality.

Section 1: Introduction

• The video is about the opposing views on whether Bitcoin is the future or not.
• The speaker, Mikhaila Peterson, interviews two guests, Peter Schiff and Robert Breedlove, to discuss their perspectives on Bitcoin and its potential as a future currency.
• Peter Schiff is an American economist, stockbroker, and author who is known for predicting economic shifts and events.
• Robert Breedlove is a crypto enthusiast who strongly believes in the potential of Bitcoin as a store of value and a means of payment.

Section 2: Peter Schiff's View

• Peter Schiff believes that Bitcoin is a pyramid scheme that benefits those with access to newly printed money at the expense of others.
• He is not a fan of cryptocurrencies and believes that they are a dangerous and unsustainable way to store value.
• Schiff believes that the government and central banks will eventually crack down on Bitcoin and other cryptocurrencies, leading to a market crash.
• He believes that the only way to protect oneself from inflation and economic instability is to invest in traditional assets such as gold and real estate.

Section 3: Robert Breedlove's View

• Robert Breedlove strongly believes in the potential of Bitcoin as a store of value and a means of payment.
• He believes that Bitcoin is a decentralized and secure way to store value, free from government and central bank control.
• Breedlove believes that Bitcoin will eventually replace traditional currencies as the dominant form of payment and store of value.
• He believes that the adoption of Bitcoin will lead to a shift in economic power and a new era of financial freedom.

Section 4: Conclusion

• The video explores the pros and cons of Bitcoin and its potential as a viable alternative to traditional currencies.
• The speaker, Mikhaila Peterson, presents two opposing views on Bitcoin and its potential future.
• The video provides valuable insights into the potential benefits and risks of investing in Bitcoin and other cryptocurrencies.
• It is important for investors to carefully consider their options and make informed decisions based on their financial goals and risk tolerance.

Section 1: Introduction

• The video is about the opposing views on whether Bitcoin is the future or not.
• The speaker, Mikhaila Peterson, interviews two guests, Peter Schiff and Robert Breedlove, to discuss their perspectives on Bitcoin and its potential as a future currency.
• Schiff is an American economist, stockbroker, and author who is known for predicting economic shifts and events.
• Breedlove is a crypto enthusiast who strongly believes in the potential of Bitcoin as a store of value and a means of payment.
• The video explores the pros and cons of Bitcoin and its potential as a viable alternative to traditional currencies.

Watch the video on YouTube:
Opposing Views: Is Bitcoin The Future? | Peter Schiff & Robert Breedlove - MP Podcast #124 - YouTube