Renowned Bitcoin critic Peter Schiff is at it again, this time expressing his views on why Gold is more efficient as a means of payment than BTC, particularly when third parties like PayPal have to be involved.
Peter Schiff took to his Twitter handle and posted:
“Once a third party is introduced to store Bitcoin, it loses any perceived advantage it has over gold as a medium of exchange. With third-party storage it’s far easier and more efficient to use gold as a payment method than it is to use Bitcoin. Gold is money. Bitcoin is not.”
Peter Schiff’s end game with the tweet appears obvious, and that is to appeal to the biggest third-party cryptocurrency custody provider that just entered the space PayPal to look into the potentials of Gold. PayPal’s debut into the crypto ecosystem is significant to Bitcoin as the online payment giant can potentially encourage the platform’s over 300 million users to also leverage Bitcoin and digital currencies and should drive…