{"id":29088,"date":"2017-12-22T07:19:01","date_gmt":"2017-12-22T12:19:01","guid":{"rendered":"http:\/\/olduvai.ca\/?p=29088"},"modified":"2017-12-22T07:19:01","modified_gmt":"2017-12-22T12:19:01","slug":"peter-schiff-bitcoin-heading-to-0-many-bitcoin-investors-will-lose-everything","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=29088","title":{"rendered":"Peter Schiff: Bitcoin Heading To $0, Many Bitcoin Investors Will Lose EVERYTHING"},"content":{"rendered":"<h3><a href=\"http:\/\/www.shtfplan.com\/headline-news\/peter-schiff-bitcoin-heading-to-0-many-bitcoin-investors-will-lose-everything_12222017\">Peter Schiff: Bitcoin Heading To $0, Many Bitcoin Investors Will Lose EVERYTHING<\/a><\/h3>\n<div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-52119\" src=\"http:\/\/shtfplan.com\/wp-content\/uploads\/2017\/12\/peterschiff-e1512576542536.jpg\" alt=\"peterschiff\" width=\"560\" height=\"338\" \/><\/p>\n<p>Investor Peter Schiff is warning once again about Bitcoin\u2019s massive speculative bubble. Schiff, who is well-known for predicting the 2008 financial crash, is saying it\u2019s those who are buying in now will be the most vulnerable when Bitcoin hits $0.<\/p>\n<p>\u201cPeople who got it years ago, even people who got it at the beginning of the year have the opportunity to cash out and make a lot of money. But<strong> people who are buying it at these prices or higher prices are going to lose practically everything<\/strong><em><strong>,<\/strong>\u201d<a href=\"https:\/\/www.rt.com\/business\/413835-bitcoin-people-lose-schiff\/\" target=\"_blank\" rel=\"noopener\">\u00a0<\/a><\/em><a href=\"https:\/\/www.rt.com\/business\/413835-bitcoin-people-lose-schiff\/\" target=\"_blank\" rel=\"noopener\">Schiff told <em>RT International Channel.<\/em><\/a>\u00a0Bitcoin is speculative bubble set to burst at any time, and when it does, many will lose everything.<\/p>\n<p>Schiff\u2019s main concern with Bitcoin echoes that of many preppers,<a href=\"http:\/\/www.shtfplan.com\/headline-news\/health-ranger-everyone-buying-bitcoin-right-now-is-the-greater-fool_12202017\" target=\"_blank\" rel=\"noopener\"> including Mike Adams, the Health Ranger.<\/a>\u00a0 \u201cThese currencies are going to trade to zero or pretty close to it when the bubble pops,\u201d\u00a0predicts Schiff.\u00a0\u201cRight now, the only reason why people are buying bitcoin is because the price is going up. When it turns around, they are not going to sell it for the same reason. <strong>There is no value in bitcoin, you can\u2019t use it as money,<\/strong>\u201d\u00a0Schiff points out.\u00a0\u201cIt\u2019s too slow, too expensive and too vulnerable.\u201d<\/p>\n<p>It also doesn\u2019t physically exist in the way gold and silver do.\u00a0According to Schiff, there is a problem with fiat currencies. However, there are 1,300 digital currencies with massive inflation.\u00a0<em>\u201c<\/em>Even bitcoin itself has spun off bitcoin cash, bitcoin gold. There is no limit to supply of bitcoin-branded worthless tokens that can be created,<em>\u201d<\/em>\u00a0he said. But as soon as the price begins a downward trend, Bitcoin will implode.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Peter Schiff: Bitcoin Heading To $0, Many Bitcoin Investors Will Lose EVERYTHING Investor Peter Schiff is warning once again about Bitcoin\u2019s massive speculative bubble. Schiff, who is well-known for predicting the 2008 financial crash, is saying it\u2019s those who are buying in now will be the most vulnerable when Bitcoin hits $0. \u201cPeople who got [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[4174,6489,963,1291,13746,6490,11462],"class_list":["post-29088","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bitcoin","tag-mac-slavo","tag-peter-schiff","tag-rt","tag-russia-today","tag-shtfplan-com","tag-speculative-bubble"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29088","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29088"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29088\/revisions"}],"predecessor-version":[{"id":29089,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/29088\/revisions\/29089"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}