Peter Schiff likes to say that bitcoin produces nothing. Well, of course that's not true. It produces monetary security and portability. Something you can't have in gold without a shovel, a yard, or a bank vault. Good luck if you have to move quickly.
That's not a greater fool's matter. That's essential to money. Gold to be useful must be placed in a vault for security and turned into paper to be portable.
Schiff knows this, but he has a business, and he gets a lot of attention for it. But he's also wrong. The bad part is he knows he's wrong and doesn't care. That's just dishonest.
William ₿ Travis
npub18w…5re2x
2026-01-29 14:07:02 UTC
Author Public Key
npub18w8307u2nux8dx6cr88net4rjg4xs3x57lmksjhdnajhrwexherq75re2xSeen on
wss://nos.lolPublished at
2026-01-29 14:07:02 UTCEvent JSON
{
"id": "06a369c70f84ae936a5eec2797b5a22c9ffcaa4fa7a28045bbe9461264d16a42",
"pubkey": "3b8f17fb8a9f0c769b5819cf3caea3922a6844d4f7f7684aed9f6571bb26be46",
"created_at": 1769695622,
"kind": 1,
"tags": [
[
"alt",
"A short note: Peter Schiff likes to say that bitcoin produces no..."
]
],
"content": "Peter Schiff likes to say that bitcoin produces nothing. Well, of course that's not true. It produces monetary security and portability. Something you can't have in gold without a shovel, a yard, or a bank vault. Good luck if you have to move quickly.\n\nThat's not a greater fool's matter. That's essential to money. Gold to be useful must be placed in a vault for security and turned into paper to be portable.\n\nSchiff knows this, but he has a business, and he gets a lot of attention for it. But he's also wrong. The bad part is he knows he's wrong and doesn't care. That's just dishonest.",
"sig": "99616b38578e85f5b97c476775aedd17c54fb68492adcebf8f345bf92afa27f9f56a61f2c041a0ee0d091f029679f07da8d8f24bb65b405b367427d32107387c"
}