Bitcoin (BTC) and Ether (ETH) provide energy, but gold is “dead,” said billionaire Mark Cuban, one of the cryptocurrency’s biggest opponents.
In a Twitter debate on March 2, a Cuban increasingly sympathetic to cryptocurrencies warned Peter Schiff that gold would “die” as a store of value (SOV).
Cuban Chef: “Gold is Dead, Continued.”
Schiff, a gold shortage who has long established himself as a common Bitcoin skeptic, continues to tweet derogatory comments about the phenomenon despite BTC / USD regularly hitting new points.
In response to claims that Wall Street firms were “stupid” to buy, Kubin unexpectedly offered a dose of drugs to support Bitcoin.
“Let me help Peter. Gold is just as nice as cryptocurrency. Do we really need gold jewelry? Gold can give you a ring, ”she said in a tweet.
“BTC / Eth are technologies that can make you a banker, provide a seamless exchange of value and can be expanded to an unlimited number of commercial and personal applications.”
He continues to be firm about the future of gold.
“What we see in cryptocurrencies today is just a proof of concept. As technology continues / gets cheaper / faster, there will be new applications and maybe even something that will replace what we know today with cryptocurrencies. ” …
“But gold will never change. Therefore, he will die as if he were asleep. ”
The Cuban has officially devoted little time to Bitcoin technology or cryptocurrency in general, resulting in a concerted effort among supporters to persuade him to reconsider. In January, he revealed that he still has assets over the years, which he never sold.
“Don’t forget that gold was a technology-based SOV. From pickaxe and shovel to prey trying to improve. Anyone can use today’s technology to find the most efficient and the most efficient mining. As with Crypto today, the final message glues Shiv together. ”
Gold Matt Peter. Proceed.”
Schiff had nothing to argue with his words, he called the cryptocurrency “malicious investment” and argued that gold could support the digital currency in the future.
If you can’t beat them, replace them
Meanwhile, Schiff’s years of contempt found a new, more productive goal.
Bitcoin trading algorithm diagram inspired by Peter Schiff. Source: Sam Baker / Twitter
There are so many jokes that his tweets point to low bitcoin prices, with one trader showing a homemade trading tool that took a year to complete transactions based solely on the Chief’s social media activity.
“Since May, the algorithm has completed 203 trades, generating an annualized return of about 1,000%,” said Sam Baker, a Boston College student who uploaded the earnings compilation.
“65% of trades are profitable with an average yield of 3%.”
Schiff replied, “I think there is an equally compelling reason for buying bitcoins. Good luck. “