Getting paid in Bitcoin “makes no sense,” Bitcoin critic Peter Schiff says
Responding to tweets from Elon Musk and Ben Mezrich about payments in Bitcoin, vocal Bitcoin critic Peter Schiff has said that getting paid in Bitcoin “makes no sense.”
Mezrich, the author of “The Accidental Billionaires” and “Bitcoin Billionaires” had on Friday tweeted that he was “never turning down getting paid in bitcoin again.” Tesla’s CEO and the world’s richest man, Musk, agreed with Mezrich. By Sunday, Schiff was ready with a reply. He had a contrary opinion.
For Schiff, Bitcoin remains a bubble, and if anyone wants to take a bite at the bubble, it should be at their own time and price and not “playing the game somebody else’s way.”
That makes no sense. If you want to buy #Bitcoin do so on your own timing not some else's. That way you can buy Bitcoin when you think it's a good price to buy, not when someone else decides that it's a good price to sell?
— Peter Schiff (@PeterSchiff) January 10, 2021
On the flip side of Schiff’s disdain for Bitcoin is his love for gold. According to him, payments in gold will stand the test of time even after Bitcoin is gone.
People have been accepting payment in gold for centuries, and they will be asking for payment in gold long after Bitcoin has been forgotten.
Speaking of getting paid in Bitcoin. A New York bar owner is definitely not listening to Schiff. Patrick Hughes has put up two of his bars at Hell’s Kitchen for sale for 25 Bitcoin.
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