Part 6
I Wish I Had Bought It
Part 6 is pure gold; solid, solid gold.
I can't imagine anything that would be more obnoxious if someone who followed Peter Schiff or hired him as financial advisor, watched this debate.
"Mr Schiff?"
"Hello, yes?"
"Why didn't you know to buy Bitcoin back when it was $1? Or, when it was $10? $100. $1000?"
"It's not real".
So, Peter Schiff shrugs the shoulders at one point and admits, he wishes, just like many opportunities he was wrong about, that he had bought bitcoin early on just like anybody would. Sure, I mean, if I had bought it at "x", it would have been the greatest profit I ever made off of anything ever.
You do see where I'm going with this, right? I mean, this wasn't something Richard Heart lured him in with. He didn't zig when he should have zagged. This was of his own free will. What could be a better advertisement than to have the guy that swears Bitcoin is going to zero, is a Ponzi scheme no better than chain letters, wishes he had gotten in early because it would have outperformed any investment he has ever recommended to anyone.
If you were spending the next 30 years setting up a retirement account and dragging a few hundred dollars in dividends out for good measure, how would you feel if a few thousand dollars invested in an up-and-coming tech product, financial instrument, e-cash with years up and running, could have been worth a few hundred million dollar, and your financial advisor passed on it because it wasn't real. Not because of risk. Not because he's read the white paper and thinks it needs a longer stretch. Not because he has no idea how the government would treat it for tax purposes. He flat out decided for you, that there is no value, because there is no such thing as digital scarcity and it is going to zero.
Sorry, but every time someone swore to me I should pass on something that went from a penny to $68,000 and is still strong after covid and Russia/Ukraine and weekly bans and Biden insults on common intelligence, in the high $30Ks, I'd wonder what other categories of investments they were flat-out ignoring.
Why is someone willing to engage in a virtual debate on a wacky invention called the internet that can't possibly be real, because I'm standing over here and I don't even know what room you're standing in... lol sorry but I'm stretching this out, savoring it, reading up, down, left, right, and in-between the lines, and so should you.
We are living in a time, folks. This is unprecedented stuff we are living through. This little hour debate is something to savor, pour over, laugh about and dig into, in case we are ever called upon to make more sense.
In Part 7, I'm going to tie up loose ends and call it a series, as you're probably wondering when Gordon's gonna get on with something else.
And on that note, Crypto Gordon Freeman, for now... out.
