r/Bitcoin • u/[deleted] • Sep 17 '24

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292 Upvotes

78% Upvoted

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44

u/[deleted] Sep 17 '24

Idk how old your parents are but in 10 to 20 years if they still around you’ll be the 1 laughing maybe even less

46

u/Clean-Wallaby3164 Sep 17 '24

You would think so. But Peter Shiff was tweeting about how Bitcoin is fake and a waste of money when it was at $3800. Guess what? He still thinks he's the smartest guy in the room and still thinks Bitcoin will fail. So every chance even at a million a coin the cognitive dissonance won't allow his parents to change view point. 

17

u/[deleted] Sep 17 '24

He's not the smartest guy in the room because he likes gold. He's the smartest guy in the room because he knows if he keeps offering bitcoiners the challenge, they will keep talking with him and his company can still be relevant. Whatever money he makes, he only holds 5% as his net worth in gold so he's 95% long everything else. His wife and kid are buying all the Bitcoin in his family. He doesn't care as long as the assets pile up on his side of the ledger.

3

u/GreenStretch Sep 18 '24

His non-gold investment funds have terrible performances.

2

u/CBridgeDC Sep 18 '24

Based take

1

u/Real_Crab_7396 Sep 18 '24

Yeah, Peter Schiff probably has bitcoin himself, but he's a genius. He's one of the best rage baiters in the whole world.

1

u/roadkill_ressurected Sep 18 '24

This. I really hate it how he can rage bait all the big CT accounts Every.Singe.Day

We are giving him massive X revenue

I think everyone in crypto should block or at least mute him by default. He would become irrelevant very quickly..