“All you can do with Bitcoin once you buy it is sell it, but you need somebody else to buy it from you.” – Peter Schiff
James Woods shared a tweet with what is, in the end, a generally rational skepticism and common initial impression of Bitcoin. From an article at Fox Business, that based its argument on a few quotes from the king and queen of Bitcoin trolls, Peter Schiff and Nouriel Roubini. “You can’t do anything with it but sell it,” they claim, “its a huge scam and pump and dump” they added. As a Bitcoiner I would obviously argue this is completely false, but its not easy at first to see why, and it takes a huge amount of history, and close scrutiny to see the bigger picture.
That’s why in this episode, I hope to answer the article, and maybe shed some light on why its views are wrong. Maybe James will listen to it, maybe not, but hopefully some skeptic out there can find value in hearing answers to very common, but ultimately very wrong views as to what Bitcoin is.
Todays episode, I get into all of it, with “Dear James Woods.”
The tweet and article in question:
“There's no real use for bitcoin. All you can do with Bitcoin once you buy it is sell it, but you need somebody else to buy it from you. It’s a massive pump-and-dump.” https://t.co/FpNtFxcCsD
— James Woods (@RealJamesWoods) November 19, 2020
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