I think Peter is way off the mark on this. He talks about once gold starts to rise people will sell their Bitcoins and get into gold because he believes people are only buying bitcoin because it's 'digital gold' and once the real thing start to rise people will jump ship on Bitcoin causing it to come crashing down.
I don't think Bitcoin and Gold are competing with one other. I think they are both competing against central banking fiat right now which has like 99% of population under it's control. It seems more likely that Bitcoin and Gold will raise together and the central banking fiat will fall. Maybe after the central banking fiat crashing and gets thrown to the wayside a real clash between Bitcoin and Gold might happen but that is probably several years down the road.
Another thing I have a problem with is when Peter says Bitcoin has no real value. Being a libertarian and a expert on central banking Peter should know full well the value in having a decentralized currency that can't being inflated or deflated by central banks. Just that property alone makes in valuable to liberty lovers around the world and Peter should understand as a libertarian but he's just to fixated on Gold that he can't see the big potential in Bitcoin.
Maybe when Bitcoin reaches 100,000 dollars he will start changing his tune.
I think a good portfolio should be diversified because no one can predict an uncertain feature. Gold + Crypto not gold or crypto. Either one could 10X in my opinion (hopefully steem 30X)
People like Peter have a vested interest in the very status quo they claim to be against. Contrarians are selling to people who have a pre-existing worldview, usually one of confirmation bias.
I just wish he would choose his battles a little more carefully. Lets get control of the money supply out of the hands of the banksters first and then let the free market decide what's the best form of money is.
Peter and I have owned metal for years and to give something value, we want to hold it in our hand. I would never trade my metal for crypto, but I would consider trading my crypto for metal. Like me, I'll bet Peter has some crypto. He just won't admit it.
Yeah- He's missed the mark on this one. I think anyone with a brain that doesn't at least tell people to invest a little in cryptos for the sake of getting rid of the banking cartel is in it for themselves or is in agent.