• About Us
  • Privacy Policy
  • Contact Us
Bitbion
Advertisement
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • Prices
No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • Prices
No Result
View All Result
Bitbion
No Result
View All Result
Home Bitcoin

ShapeShift CEO Erik Voorhees on Bitcoin’s future and Peter Schiff’s big gold mistake

February 11, 2021
in Bitcoin
0
ShapeShift CEO Erik Voorhees on Bitcoin’s future and Peter Schiff’s big gold mistake
Share on FacebookShare on Twitter


Bitcoin’s rise in 2020 was marked by institutions purchasing the asset as a hedge against global inflation, a bleak economic outlook, and an overall low-yield environment in the traditional finance market.

The year 2021 is not far behind in that regard. The first month saw business enterprise firm MicroStrategy conduct its “Bitcoin playbook” conference, a series of legal, regulatory, and technical considerations for institutions wanting to invest in the burgeoning Bitcoin space. The event was said to be attended by thousands of business executives and companies.

Then in February, electric carmaker Tesla announced the purchase of $1.5 billion worth of Bitcoin, stating that the asset was proving to be a better investment than current market options. 

But where does Bitcoin go from here? Ask Erik Voorhees, an American entrepreneur known for his work with crypto exchange and products firm ShapeShift, and crypto gambling website SatoshiDICE (which oversaw millions of Bitcoin worth of bets at its time in 2013) in a previous role as founder.

ShapeShift CEO Erik Voorhees. Image: Cryptonites

Voorhees sat down with Cryptonites host Alex Fazel in the crypto edutainment show’s latest episode to discuss the Bitcoin landscape, its expected growth in 2021, and the various challenges that the asset faces as it continues to grow.

Here’s what they discussed.

How governments have failed money

Voorhees kicked off the show with a blurb about how the reckless actions of the various governments around the world ended up causing more harm than good to “money” as a concept.

“If governments and central banks were responsible, and did not debase their currencies as much as they do, Bitcoin would still end up taking over, it would just be a slower process, but it’d be one that would be less painful for normal people,” he told Fazel, remarking on the fall of fiat money as a sound concept to a flawed one.

He said:

“I’m very worried that the debasement of fiat currency is going to cause a bond market collapse. And it’s going to lead to a catastrophic, economic depression. And Bitcoin and crypto will absolutely help people get out of that.”

Voorhees added that cryptocurrencies may help people avoid/escape such a scenario and possibly rebuild the world after it, but that the process would be a “very harmful and horrible phenomenon for the world to go through.”

On Peter Schiff

Voorhees shared that his first tryst with understanding the negatives aspects of fiat money was via the talk shows/thoughts of Peter Schiff, the famous (or infamous, depending on whom you ask) American stock trader and gold bull. Schiff has gained notoriety in crypto circles in the past years for his perma bear attitude towards the crypto market — one that calls for Bitcoin and the broader market to eventually fall to zero.

“I listened to his podcast, and it’s from him that I learned a lot about what money is, how it works, how it should work, how it’s been corrupted by central banks, and why that is such a problem. And I learned a lot of that from him,” shared Voorhees about Schiff’s influence on him in his early years.

“Years later, I discovered Bitcoin, and then years later, I get to have a debate with him because he was, you know, so. So anti-Bitcoin. And it’s just been really sad that, his affection for gold itself has blinded him to an even better form of free-market money,” added Voorhees.

By his own admission, Voorhees is a “fan and advocate of gold.” But Schiff, he said, has not been able to realize that something even better has come along, in a digital, immutable, and easy to store form. “He’s too far gone at this point, like there’s zero chance that he sees the light,” said Voorhees.

(Hear Voorhees’ thoughts about Ethereum, Uniswap, DeFi markets, and the future of Bitcoin in the entire 35-minute Cryptonites episode available for steaming right below!)

Posted In: Bitcoin, Videos

Like what you see? Subscribe for daily updates.



Source link

Tags: bigBitcoinsCEOErikFutureGoldmistakePeterSchiffsShapeShiftVoorhees
Share76Tweet47

Related Posts

The Simplest Bitcoin Analysis as BTC/USD Refreshes Milestone High

The Simplest Bitcoin Analysis as BTC/USD Refreshes Milestone High

by
April 13, 2021
0

A quick look into the world’s leading cryptocurrency Bitcoin and what’s ahead for it as it achieves another lifetime...

Bitcoin blasts through $32,300: What do analysts think about BTC in Q1 2021?

Bitcoin (BTC) breaks $62,000 to new all-time highs

by
April 13, 2021
0

25% of all Bitcoin was exchanged in this key price rangeThe past few months have seen billions of dollars...

Bitcoin Price Breaches $61,000 Ahead of Key Inflation Figures; What’s Next?

Bitcoin Price Breaches $61,000 Ahead of Key Inflation Figures; What’s Next?

by
April 13, 2021
0

Key Bitcoin Price Outlook The bitcoin price briefly surged above $61,000 on Tuesday. The climb surfaced as a part...

Mike Novogratz’s Galaxy Digital files for Bitcoin ETF with U.S. regulators

Mike Novogratz’s Galaxy Digital files for Bitcoin ETF with U.S. regulators

by
April 12, 2021
0

Galaxy Digital today submitted Form S-1 with the U.S. Securities and Exchange Commission (SEC) for consideration of a Bitcoin...

Bitcoin Indicator Says The Top Is In

Bitcoin Indicator Says The Top Is In

by
April 12, 2021
0

Bitcoin price has finally closed a weekly candle over $60,000 on Binance for the first time in the asset’s...

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
BitTorrent (BTT) Throws Another Jab at Filecoin (FIL)

BitTorrent (BTT) Throws Another Jab at Filecoin (FIL)

November 20, 2020
Institutions are buying Litecoin (LTC) at a 1,200% price premium

Institutions are buying Litecoin (LTC) at a 1,200% price premium

November 22, 2020
Litecoin Price and Hashrate Diving Down; What’s Next?

Litecoin Price and Hashrate Diving Down; What’s Next?

November 25, 2020
3 Reasons Why XRP is Unlikely to Benefit From Ongoing Altcoin Surge

3 Reasons Why XRP is Unlikely to Benefit From Ongoing Altcoin Surge

November 25, 2020
Texas Regulators Clamp Down on Bitcoin ‘Ultra Mining’ Firm

Texas Regulators Clamp Down on Bitcoin ‘Ultra Mining’ Firm

0
Lightning Network’s New Liquidity Marketplace Attracts a ‘Surprising’ Mix of Individuals, Enterprises

Lightning Network’s New Liquidity Marketplace Attracts a ‘Surprising’ Mix of Individuals, Enterprises

0
BitTorrent (BTT) Throws Another Jab at Filecoin (FIL)

BitTorrent (BTT) Throws Another Jab at Filecoin (FIL)

0
Softbank CEO sold Bitcoin at a $130m loss after getting “too distracted”

Softbank CEO sold Bitcoin at a $130m loss after getting “too distracted”

0
Dogecoin is one of the top-performers in Q1 2021 that’s looking for further gains

Dogecoin is one of the top-performers in Q1 2021 that’s looking for further gains

April 13, 2021
The Simplest Bitcoin Analysis as BTC/USD Refreshes Milestone High

The Simplest Bitcoin Analysis as BTC/USD Refreshes Milestone High

April 13, 2021
Bitcoin blasts through $32,300: What do analysts think about BTC in Q1 2021?

Bitcoin (BTC) breaks $62,000 to new all-time highs

April 13, 2021
Bitcoin Price Breaches $61,000 Ahead of Key Inflation Figures; What’s Next?

Bitcoin Price Breaches $61,000 Ahead of Key Inflation Figures; What’s Next?

April 13, 2021

We have all the latest updated and legitimate information related to Blockchain, Cryptocurrency, latest market rates & trends, prices, new regulations along with every other thing that somehow related to crypto or digital currency market. Our main idea is to provide the kind of news that is original and at the same time, it can prove to be beneficial for our audience.

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Ethereum
  • Litecoin
  • Market
  • Regulation

Archives

  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020

Recent News

Dogecoin is one of the top-performers in Q1 2021 that’s looking for further gains

Dogecoin is one of the top-performers in Q1 2021 that’s looking for further gains

April 13, 2021
The Simplest Bitcoin Analysis as BTC/USD Refreshes Milestone High

The Simplest Bitcoin Analysis as BTC/USD Refreshes Milestone High

April 13, 2021
Bitcoin blasts through $32,300: What do analysts think about BTC in Q1 2021?

Bitcoin (BTC) breaks $62,000 to new all-time highs

April 13, 2021
  • About Us
  • Privacy Policy
  • Contact Us

© 2020 bitbion.com

No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • Prices

© 2020 bitbion.com