Posted 2 years ago | by Ben Armstrong

Gold vs Bitcoin Cage Match

On July 31, gold bug Peter Schiff debated Bitcoin supporter Anthony Pompliano (better known as Pomp). The debate occurred on CNBC Africa. Pomp, the co-founder of Morgan Creek Digital, made the argument that Bitcoin is here to stay. He believes that Schiff, and other people with adverse opinions to Bitcoin, will be kicking themselves forever. Pomp also warned Schiff that if in fact Bitcoin does succeed then he is in great danger of being berated on the internet for years. Everyone has at one time or another probably seen the guy who wrote an article about the internet being destined to fail. The long and the short of it is that there is a great chance Peter Schiff will become a bigger meme than even the infamous Carlos Matos.

Schiff spoke much during the debate about Bitcoin and cryptocurrency being a cult or even a religion. He believes that people in crypto are in the middle of a giant bubble and cannot see outside of it the same way a fish doesn't even realize it is in water. Schiff believes that virtually no one in crypto is actually in it for any reason other than the dream of making it big, owning Lambos, and riding rocket ships to the moon. (I still have not received my Lambo in the mail).

Earlier in July, Bitmex CEO Arthur Hayes debated renowned Bitcoin hater Nouriel Roubini. During the debate, the two gentlemen (using this term loosely) traded jabs and condescending remarks frequently. While most likely these debates will not change either of the debaters' minds, I believe it is good that these conversations are reaching a wider audience. In crypto, we are not afraid to talk these issues out with anyone.

To read more about this story & more, check out today's Bitcoin News video:

[youtube v="vHe2BgITN80"]