Peter Schiff : The Dollar's Decline Is Only Just Getting Started

The Peter Schiff Show Podcast - Episode 250





I can move millions of dollars worth of crypto around the world for pennies, in a few minutes. By contrast when I was trying to pay a contractor for digging out my pond it took two weeks despite expedited handling fees and ran over $100 in charges. No chargebacks, no counterfeiting, no forged or bounced checks, no credit card fees for merchants. No constant inflation by government-influenced central banks to aid borrowers at the expense of productive people and savers. Beginning to get the picture? It's fiat that is the funny money, and that is why people are beginning to flock away from it now that there is finally an alternative.
Get free from Central Powers control by using decentralized currency.
The future economy will be totally digital and decentralized. Bitcoin is
 a worldwide-distributed decentralized peer-to-peer censorship-resistant
 trustless and permissionless deflationary system/currency (see
Blockchain technology) backed by mathematics, open source code,
cryptography and the most powerful and secure decentralized
computational network on the planet, orders of magnitude more powerful
than google and government combined. There is a limit of 21 million
bitcoins (divisible in smaller units). "Backed by Government" money is
not backed by anything and is infinitely printed at will by Central
Banks. Bitcoin is limited and decentralized.

Receive and transfer money, from cents (micropayments) to thousands:
* Very cheap regardless of amount $$$ sent (a few cents fee).
* Borderless (no country can stop it from going in/out or confiscate)
* Trustless (nobody needs to trust anybody for it to work)
* Privacy (no need to expose personal information)
* Securely (encrypted cryptographically)
* Permissionless (no approval from central powers needed)
* Almost Instant (from seconds to a few minutes)
* Open source (auditable by anybody)
* Worldwide distributed (from anywhere to anywhere on the planet)
* Censorship resistant (no government can stop its use)
* Peer-to-peer (no intermediaries with a cut)
* Portable (easier to carry/move than cash, gold and silver)
* Public ledger (transparent, seen by everybody)
* Scalable (each bitcoin is divisible down to 8 decimals)
* Decentralized (distributed with no single point of failure)
* Deflationary (its supply goes down with time until reaching 21 million
 ever)
* Immutable global registry (can’t be altered/hacked by nobody)
* No chargebacks-No fraud ('push' vs' 'pull' transactions).

And that’s just as currency, Bitcoin has many more uses and
applications.