Peter Schiff : No I am not a Bitcoin Convert !!

Tuesday, July 30, 2019

Peter Schiff : No I am not a Bitcoin Convert !!

Appearing on kitco today ,Peter Schiff admits he in fact received some bitcoin donations , unfortunately he said ,those donations have already lost value since I received them , and of course had I turned them up into gold they would have gone up , Peter explained sarcastically .It is funny that people in the bitcoin community are creating this fake news story that somehow I am now a convert or that I am a secret crypto holder.Yes I have been gifted some bitcoin , so what ...?! . I have never actually purchased any , nor do I actually intend to purchase any any time soon . so much in the crypto news is all fake , this is all about hype , this is all about creating FOMO , Which means The Fear of Missing Out , so that people will rush in and buy basically nothing , it is all over hyped digitally nothing . but the real desire is that you got a lot of these so called whales , who positioned themselves years ago when bitcoin was at much much lower price , and now they need to generate a market so that they can get out . because there is really nothing fundamental driving the price , it is just a kind of pump and dump kind of scheme going on . And I think the situation is going to get complicated by the regulators which I believe are really getting ready to crack down on bitcoin and other crypto currencies , and this is going to make it harder for new money to come in , which of course will complicate the efforts of the old money to get out ,end of quote . Peter Schiff admits that in fact his eCommerce platform , ShiffGold actually accepts bitcoins as a form of payment but he explains that in fact he is trying to help people turn their bitcoin into gold . But what people do not really understand Peter Schiff adds , is that we do not directly accept bitcoin , there is a middle man in between us called Bitpay . we partnered with Bitpay , so what really happens is , if somebody has bitcoin and they want to buy some gold through ShiffGold we make it easy for them to use bitpay , and bitpay will buy their bitcoin , sell it , get dollars , and then give the dollars to Schiffgold and then we will give the gold to the person who made the purchase . “I want to help people make the conversion from fool’s gold into real gold,” Peter Schiff said.

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Tuesday, July 30, 2019