Layah Heilpern VS Peter Schiff: The Ultimate Bitcoin VS Gold [Sound Money Debate!] 💰

Gold is Centralized and Local. Bitcoin is Decentralized and Global.
Before Gold there was Beads. Before Beads there were Animal Pelts. In every instance of mankind moving forward, harder money has ALWAYS replaced the money that came before it, and Bitcoin the most well thought out monetary system and the hardest money created by man thus far.

Bitcoin is a system of rules without rulers.

Gold was designated by man to be a ledger of value. Gold was not created to be money.
Bitcoin was designed from the ground up to be Money and patch the limitations and gaps left by physical money and the corruption of fiat banking systems and government shenanigans.

Bitcoin was designed to be not just money, but also a bank, an appreciating asset, a unit of account, and with the Lightning Network: take the place of credit and debt cards. It's the most well thought out currency system and the hardest money ever created by man thus far.

The price we see today for Bitcoin is a price in its infancy. I have no doubt within 10 to 25 years the price of each Bitcoin will be absolutely enormous. It's already overtaken Gold by a dozen times over. There will only ever be 21 Million Bitcoins. The supply cannot be inflated. Gold supply inflates 2%+ per year.

Price of 1oz of 24k Gold in 2011: $1,573
Price of 1 Bitcoin in 2011: $1 - $30

Price of 1oz of 24k Gold today: $1,984
Price of 1 Bitcoin today: $27,000

When you factor in 7% to 10% annual inflation, a 1oz of 24k Gold should be valued at $3,500 to $4k.
Unfortunately, Gold has not been a hedge against inflation, which is the reason most people buy and hold it.

By all means, own some Gold, own some Silver, but also own some Bitcoin.

Austrian Economist, Ludwig von Mises, wrote:

"Value is the importance that acting man attaches to ultimate ends. Only to ultimate ends is primary and original value assigned. Means are valued derivatively according to their serviceableness in contributing to the attainment of ultimate ends. Their valuation is derived from the valuation of the respective ends. They are important for man only as far as they make it possible for him to attain some ends. Value is not intrinsic, it is not in things. It is within us; it is the way in which man reacts to the conditions of his environment."

Original Video by Layah Heilpern: https://www.youtube.com/watch?v=MHu99nbeaYI

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