Bitcoin: A Folly for the Modern Age?

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My dear friends, it appears the esteemed Mr. Peter Schiff-a gentleman whose commitment to antiquated notions is truly admirable-has deigned to express his 🧐 displeasure regarding Bitcoin. He finds it…wanting as a vessel for “economic energy,” a concept, I might add, that sounds suspiciously like trying to bottle sunshine. Honestly, the audacity!

Bitcoin as a Battery? A Most Curious Notion

It seems Mr. Schiff is taking issue with the, shall we say, enthusiastic pronouncements of Mr. Michael Saylor and his cohort of Bitcoin zealots. They propose that money is energy-a rather strenuous analogy if you ask me. One expends effort (energy!), receives payment (more energy!), and so on. A positively exhausting thought.

They argue that traditional currency ‘leaks’ this energy and gold is terribly inconvenient. Thus, Bitcoin, in their estimation, is a sort of digital power bank 🔋, effortlessly preserving one’s economic output without the slightest degradation. And it travels! Oh, the convenience of it all. Almost as delightful as a good scandal.

And let us not forget the infallible Mr. Elon Musk, who declared Bitcoin a currency rooted in “fundamental physics.” One suspects he was simply enjoying the sound of his own voice. He rather breezily predicted the demise of money itself, envisioning a future ruled by robots and abundance. How… predictable. 🤖

The Blunt Truth (As Always)

However, here is where the narrative takes a delightful turn. One cannot, alas, plug one’s Bitcoin into the national grid during a power outage. 💡Holding one whole Bitcoin yields precisely zero watts when the lights go out. Mr. Schiff, with his characteristic lack of poetic sensibility, points out it doesn’t actually store energy. A devastatingly practical observation, I must concede.

Gold mining, admittedly, also consumes a considerable amount of energy. But, unlike Bitcoin, it produces something…tangible. A shimmering metal, useful for adornment (essential, naturally!), dentistry, and even the occasional rocket. The energy, you see, is ‘converted’ into something useful. Unlike Bitcoin, which is, ultimately, rather like a very expensive, digital ghost. 👻

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2025-12-28 11:40