🤑 Gold Bug Schiff Goes Blockchain: Crypto Hypocrite or Genius? 🪙

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Well, I’ll be a monkey’s uncle! Peter Schiff, the fellow who’s been hollering about cryptocurrency like it’s the end of civilization, has gone and done the unthinkable. He’s launched his own blockchain-based gold token, T-Gold.com, while still wagging his finger at Bitcoin like it’s a misbehaved pup. 😏 During a jaw-flapping debate with Binance‘s CZ on December 4th, Schiff spilled the beans on his new venture, all while keeping his crypto skepticism as sharp as a tack.

Schiff Hitches His Wagon to Blockchain

Yep, you heard it right. Schiff’s T-Gold.com lets folks buy physical gold and silver, stashed away in fancy vaults, and then swap it for blockchain tokens. He’s singing the praises of tokenization, claiming it makes gold “more transportable, more divisible, more fungible”-basically, all spruced up like a Sunday best. 🧐

“You’ve taken gold and made it more funible,” Schiff drawled, probably tipping his hat to the blockchain wizards. “It’s still a store of value, ’cause it’s backed by the real McCoy-gold, that is.” 🪨

CZ, quick as a wink, pounced on this admission. “So, you’re saying tokenized gold is better than the real deal in just about every way?” he quipped. Schiff, with a nod, conceded, “For money purposes, you betcha.” 💰

Schiff’s Beef with Bitcoin

But don’t think for a second that Schiff’s gone soft on Bitcoin. Oh no, he’s still got his knickers in a twist over its “lack of intrinsic value.” He pointed out that Bitcoin’s tumbled 40% against gold since its 2021 heyday, claiming it’s about as useful as a screen door on a submarine. 🚫

“Bitcoin’s worth less than a hole in the ground,” he huffed. “Can’t touch it, can’t taste it, can’t even use it for anything worthwhile.” He then waxed poetic about gold’s industrial uses and its cozy relationship with central banks. “Gold’s got a job to do,” he said, “while Bitcoin’s just sitting pretty, doing diddly-squat.” 🏭

CZ Fires Back: Bitcoin’s Real-World Hustle

CZ wasn’t about to let Schiff have the last word. He trotted out real-life examples, like an African user who slashed bill payment times from three days to three minutes using crypto, saving a cool $1,000 in the process. He even flashed a Binance Visa card, used by millions for crypto payments. 🌍

Schiff, ever the skeptic, waved it off. “That’s just converting Bitcoin to fiat,” he scoffed. “You’re not really using Bitcoin; you’re just trading it for the real stuff.” 🤷‍♂️

The debate wrapped up with Schiff asking Binance to list his tokenized gold token. Talk about a plot twist! 🍿

Final Musings

  • Bitcoin’s loudest critic is now a blockchain believer-sort of. He admits it makes gold better, but Bitcoin? Still a no-go. 🧐
  • Schiff says Bitcoin’s down 40% against gold since 2021, despite all the institutional hoopla and ETF fanfare. 📉

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2025-12-05 01:14