Why Bitcoin is a SCAM! | Peter Schiff

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Full Episode ► https://youtu.be/4UDcNoELI-g?si=xFeIGl4h-PTFCJU4
Video From ► “Time Is Running Out!” Peter Schiff on Buying Bitcoin, Dumping Gold, & Getting Rich!

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From: The Iced Coffee Hour Clips

Date: October 12, 2025

49 thoughts on “Why Bitcoin is a SCAM! | Peter Schiff”

Check out the full episode here! –> https://youtu.be/4UDcNoELI-g?si=tTvJasZLE5DZSNc0

dude talked about gold for so long just to be able to flex his watch

I'm convinced that we are trained starting at a young age that gold is extremely valuable in order to maintain its value because most gold is controlled by a small group. No one is trading gold because they're stoked about the products they could potentially make from it. They simply want gold because it is perceived as valuable (including that it holds its value better than fiat). Buying something made of gold is purely for the status of it, not because of how well gold functions for that purpose (even though it may actually perform better). However, remove gold as a store of value and it sounds like we could actually improve in technology. It's hard to know who to believe when self-interest is involved. People who control gold to the same degree Michael Saylor controls Bitcoin need gold to be perceived as valuable. Only difference is that Bitcoin stands to solve more problems than gold (e.g., not inflatable, makes gold usable in manufacturing, effectively tracks "contractual" value obligations between parties, etc.). Hypothetical: say there is an apocalyptic event (e.g., worldwide flood restarting civilization). Gold and Bitcoin would be worthless, food and goods available for trade win the day. Gold would physically survive, but without common belief of value (and willingness to honor the obligations symbolized by that gold), it would still be worthless. No one will both thinking about the watches or spaceships they could make with it. So then, why other than belief is gold valuable?

Which means I’m a scammer who’s made KKs on Bitcoin 😂

We don't like the term "buyers".
We prefer "greater fools".

Bitcoin is garbage. It is based on a Pyramid scheme. It is like a cloud, one poof and it is gone. Waiting to have the last laugh when the whole crypto craze collapses.

Love when the crypto crowd comes on to complain about this man. They are delusional. Wishing and hoping their garbage goes up is a fools errand.

Bitcoin was a good investment maybe before 2023, with ZEC and these privacy coins bitcoin could be at high threat. The governments already hijacked it to pander for votes, I don't have much trust in this thing anymore. The truth is nothing really last forever.