It was Mr. Schiff's third appearance on The Joe Rogan Experience podcast, and he took the opportunity to blast the world's most popular decentralized money, insist a recent debate between him and the CEO of Shapeshift on the subject was rigged, and how he believes BTC's price will crash further to $1,000 and lower.
Skeptic Peter Schiff Blasts Voorhees Debate, Bitcoin
The Joe Rogan Experience (JRE) keeps bringing bitcoin skeptic Peter Schiff back on. And it's no wonder, as each time the two men hold close to three hour uninterrupted conversations over the last four years, the public seems to eat it up: JRE #445 (2014) not quite a quarter million views, #1002 (2017) has racked up over 1.1 million views, and #1145 (2018), of only a few days ago, already is nearing 700k views.
When all is said and done, over two million people would have been exposed to free market economics and expressly mainstream US libertarian thought — those, and also why bitcoin and cryptocurrencies are horrible bubbles.
Widely acknowledged as a gold bug, Mr. Schiff explained to Mr. Rogan how "… that's the whole selling point of bitcoin. It's digital gold." He further noted BTC does have similar properties, but that its being math and not physical means it ultimately lacks real utility (something like the Greater Fool theory).
"Technically, I lost the debate, but I think it was rigged," Mr. Schiff then concluded, moving his monologue through a non sequitur. The reference is to a contest on the subject of bitcoin hosted by The Soho Forum in New York City earlier this month, whereby he debated Shapeshift CEO Erik Voorhees. Mr. Schiff blamed his loss on a largely pro-bitcoin audience, which he also assured was told to fib on the initial poll of their true feelings about crypto so as to ensure his eventual defeat.