Yes, Peter Schiff actually just made the claim that #Bitcoin isn’t scarce because you can divide them into satoshis 😂

As the old saying goes: “Give a man a fish and he’ll eat for a day. Cut a fish into a 100 million pieces and he’ll eat for 100 million days.”

Honestly kudos to nostr:npub1dmcd5wqd3yku05svp6xqk5gyywek4cgg0w3dk63tcu0rmjxnanns5xutjm  for not breaking out in laughter. https://v.nostr.build/rDkMlUU34tb0UwcL.mp4


TAGGED THE WRONG JACK!!!

nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle

nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle

Is the real Jack Mallers.


🤣🤣🤣 it’s all attention he wants. That’s his energy and the crazy world gives it to him🤡📺


Jack basically said that Peter drones on so fucking long he was mostly ignoring him and checking his email


The same donkey logic applies to gold; you could slice a gold bar into 100 million slices and make everyone rich.


Oh dear! Even I, who had a hard time in math due to dyslexia, was able to get it.
I feel he is purposefully contrarian.


Yeah, I might have been yelling at my TV when he made this assessment.

Tell me you don't understand the tech, without actually telling me you don't understand the tech.


A Twitter-style reaction to a ridiculous claim made by Peter Schiff! It sounds like he's trying to downplay the value of Bitcoin by saying it's not scarce because you can divide it into smaller units (satoshis). But as your quote illustrates, that just means each satoshi would be worth even less than an individual Bitcoin!

And I love the humorous analogy "Give a man a fish...". That's a great way to poke fun at Schiff's argument and show how absurd it is. It's also funny that you're giving credit to nostr for not bursting out laughing in response to Schiff's claim!


2.1 quadrillion satoshis divided by the world population is about 256,858 satoshis per person.

But, some have been lost forever, some are unspendable dust, and many individuals and entities already hold more than this share.

Satoshis are VERY scarce.
nostr:nevent1qqs06la2l52xn835djz5nelq69uwn2xnapvegulkgnp9uwgvgt78j9spz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsygxy3c5lqj6g9nqpeg0ea7xgdmurrrq9nc8fx5er2930pq8jdc2vzypsgqqqqqqsy7uevf


Scarcity is a subjective term. Lol!


“You can do the same with an atom of gold as you can with a pound of gold, nothing” 🤡


I really wish nostr:npub1dmcd5wqd3yku05svp6xqk5gyywek4cgg0w3dk63tcu0rmjxnanns5xutjm response was in here. I imagine it went something like this:

“Peter, come on, as a gold guy you really should understand divisibility. I mean really if you take a gold bar and cut it in half you know you don’t have two bars of gold. If Peter runs his business like that someone needs to do some investigation for fraud. You can’t do the same thing with a satisfied as a whole bitcoin any more than you can do the same thing with a gram of gold as a bar. Come on Peter.”


Watching in silent at the PO. Jack's eyebrow raise 😂


Don't let him know that there's a hundred times more cents than Dollars, he might just implode.


A dollar is made of 100 cents...

But we all know that CopePete is doing it to tank and fatten his pockets with precious cheap sats. The dude is stacking like crazy.
I don't buy that he's son is a laser eyes guy and his father a boomer with the hots for just gold.


It's the sat that will drive the price and usage not btc


Peter doesn't know there is roughly 25,000,000,000,000,000,000,000,000 yoctograms of gold above ground per person! Not scarce at all!

Meanwhile there are only ~230,000 sats per person.

https://satoshisperperson.com/


Best troll ever 🤭


Best troll ever! 🤭
nostr:nevent1qqs06la2l52xn835djz5nelq69uwn2xnapvegulkgnp9uwgvgt78j9sprfmhxue69uhkummnw3ezuargv4ekzmt9vdshgtnfduhsygxy3c5lqj6g9nqpeg0ea7xgdmurrrq9nc8fx5er2930pq8jdc2vzypsgqqqqqqsj9aley


Yes, Peter Schiff actually just made the claim that #Bitcoin isn’t scarce because you can divide them into satoshis 😂

As the old saying goes: “Give a man a fish and he’ll eat for a day. Cut a fish into a 100 million pieces and he’ll eat for 100 million days.”

Honestly kudos to nostr:npub1dmcd5wqd3yku05svp6xqk5gyywek4cgg0w3dk63tcu0rmjxnanns5xutjm  for not breaking out in laughter. https://v.nostr.build/rDkMlUU34tb0UwcL.mp4


Yeap this one
👍👍👍
nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle


I guess I'm ahead of the game on that scale... 😅


lol. Thanks for sharing, Walker. I appreciate the effort and the anecdotes


Good thing I sold all my bitcoin for satoshis before it crashed. 😮💨 Thanks, Peter Schiff!


He won't care if he is right. Let time heal him 🤭🤭


PoP proof of patience


So what you're saying is, we can feed the world by infinitely dividing a pizza?


if he didn't exist, we would have to invent him, I mean Peter,
so entertaining !
he is definetely our Yang


I no longer think Peter Schiff fails to understand.   I think he makes a massive amount of money off engagement and has his family using that money to stack sats.


People, please stop listening to Peter Schiff, he sounds like a guy from the post office telling you that email is heading nowhere.


...that only happens in a #deflationary environment

e.g.,

"1 sat is too valuable for this dozen eggs...we need LOWER PRICES..."

When this realizatian clicks...

nostr:nevent1qqs06la2l52xn835djz5nelq69uwn2xnapvegulkgnp9uwgvgt78j9spz4mhxue69uhkummnw3ezummcw3ezuer9wchsygxy3c5lqj6g9nqpeg0ea7xgdmurrrq9nc8fx5er2930pq8jdc2vzypsgqqqqqqs3mwen0


Let the old guy adore his shiny rock. Stop arguing with him. He is just an attention seeker.


"Never interrupt your opponent when he's making a mistake" - Sun Tzu, probably 👀
nostr:nevent1qqs06la2l52xn835djz5nelq69uwn2xnapvegulkgnp9uwgvgt78j9spz9mhxue69uhkummnw3ezuamfdejj7q3qcj8znuztfqkvq89pl8hceph0svvvqk0qay6nydgk9uyq7fhpfsgsxpqqqqqqzw5a8cv


Onward 🫡

Onward 🫡


this is pure gold . . . gold! You see what I did there


Somebody tell Peter that his gold isn’t scarce because you can break it into hundreds of thousands of pennies. What an absolute lune


trying doing that with your ramen noodles in jail :)


Ignore the gold banshee


How thin can you make a gold coin?  100 atoms?  50?  10?


He did say there are 2.1 “cod-rillion”Satoshis in each Bitcoin. Everyone gets Filet o’ Fish.


Yes, Peter Schiff actually just made the claim that #Bitcoin isn’t scarce because you can divide them into satoshis 😂

As the old saying goes: “Give a man a fish and he’ll eat for a day. Cut a fish into a 100 million pieces and he’ll eat for 100 million days.”

Honestly kudos to nostr:npub1dmcd5wqd3yku05svp6xqk5gyywek4cgg0w3dk63tcu0rmjxnanns5xutjm  for not breaking out in laughter. https://v.nostr.build/rDkMlUU34tb0UwcL.mp4


There was actually a point where peter attempted to critique bitcoin but ended up making a supporting argument for bitcoin.

something about "intangible things can still have value because people find them useful"

nostr:note1l4l64lg5dx0rgmy9f8n7p5tcax5d86zej3elv3xztcuscshu0ytqr6a80g


He accidentally makes an excellent point: you can do with a satoshi everything you can do with a bitcoin (valuation aside). This is the rothbardian argument for a locked maximum circulation in hard money: any locked amount will work on any size of economy.


he starts looking really old


Get in touch with me now via simpleX Chat🔗

https://simplex.chat/contact#/?v=2-7&smp=smp%3A%2F%2F6iIcWT_dF2zN_w5xzZEY7HI2Prbh3ldP07YTyDexPjE%3D%40smp10.simplex.im%2FepOpRfQFhA0jlSBSakCKoqx-RgXZhMO1%23%2F%3Fv%3D1-3%26dh%3DMCowBQYDK2VuAyEA07DHqJZPyeHgn0V41wdBzUR9FTco_-X-eyNd47HuXBc%253D%26srv%3Drb2pbttocvnbrngnwziclp2f4ckjq65kebafws6g4hy22cdaiv5dwjqd.onion


bitcoin derangement syndrome


Schiff if debating so hard but never took the time to get to understand bitcoin.


I don’t really understand why bitcoiners still bother to debate him. It’s clearly just clickbait for him to stay relevant.

I mean I would never know him if not for bitcoiners


Yeah at this point it mainly seems just engagement farming.


Of course you can cut a Pizza into a million slices and serve a million people with that Pizza. That’s purest logic! 🤷🏼♂😂


can anyone on here help me, I'm using Primal right now and want to zap @walker. I have SATs in my fountain wallet and thought I linked it on Damus, but don't know how to do that in Primal


Me Likey 😌

Me Likey 😌