Peter Schiff reveals he will be launching a tokenized gold product "You'll be able to buy gold on an app through your phone, the gold will be stored in a vault and then you will be able to effortlessly transfer ownership of gold to people you know or redeem... it for physical gold"show more

@Crypto_Tengen Say it

🤣

@Crypto_Tengen So “bitcoin but aids” Nice.

Lol

@Crypto_Tengen Basically Pax Gold. This is already done.

@Crypto_Tengen So… Bitcoin, but with middlemen, physical gold, vaults, redemption friction, and trust risk?

@Crypto_Tengen Hating btc and building gold on Blockchain lmaoo

@Crypto_Tengen Uhhh

Gold is 100% fiat. Who "monitors and controls" the vault? Men. Corrupt men, as usual... Fakes, false mix compounds, nobody knows existing or future supply. You cannot take any on a plane, you have to use a 3rd party or risk it being stolen from your home. So now between gold and cash, you can be trapped in 1/195 countries and the world is becoming more tyrannical... Gold is a shiny rock. It is old tech. It is a rock that serves some industrial and home uses, but so does bleach. I am not storing my family wealth in bleach either. Bitcoin... all of it fits inside this Excel table (all that will ever exist). Bitcoin is verified by a full global audit every 10 minutes, forever. The supply is set and no additional Bitcoin will ever be created again (it was all created in 2009 and is released until year 2140). It is finite, publicly viewable (every transaction that has ever occured). With 12 words in your mind, you can carry your entire net worth with you whenever you travel with nothing to declare anywhere and send some instantly anywhere with no 3rd party required. No permission. Borderless, Permissionless, Trustless, Finite and Fixed supply, Ethical, Global. Imagine listening to Peter Schiff in 2025... REKT. THERE IS NO SECOND BEST.

@Crypto_Tengen “…redeem it for physical gold" Where have we heard this before ?

@Crypto_Tengen This mf been talking all that shit just to end up in crypto lol

@Crypto_Tengen Peter is slowly inventing btc

@Crypto_Tengen They’re going to do some fake psy op “hack” of this financial instrument to totally WRECK the price of gold and consequently pump BTC in a way that wipes out all US Treasury debt watch

@Crypto_Tengen the gold peg again, for the 10th time, but this time will be different.

@Crypto_Tengen So it’s like the worst possible version of Bitcoin imaginable Got it

@Crypto_Tengen So you just got to trust he doesn't print more tokens than what is in the vault.... 😏

I’ve got some questions, Peter. How often will the gold holdings be audited? What mechanism will be used to provide proof? If I have gold tokens and want to redeem them will this facility be available 24/7/365? Will these gold tokens be available to anyone around the world, regardless of location? And say I live in Mozambique, can I send some tokens to someone in, say, Bangladesh whenever I want and without intermediaries? Lastly (I think), if I buy tokens while living in Sudan and need to flee due to civil unrest, will I be able to regain access to my tokens from my refugee camp in Uganda? Genuinely interested in hearing more about it.

@Crypto_Tengen @PeterSchiff, eternal BTC basher, finally hops on the blockchain hype train... with the *one* business model crypto folks knew couldn't possibly work. Trading "trust the code" for "trust me, bro"—the very reason why $BTC was created in the first place. Irony overload. 😂

@Crypto_Tengen So basically@tethergold but made by the retarded for the retarded

@Crypto_Tengen You can redeem your gold anytime. Trust me bro….

@Crypto_Tengen Ok and who holds the gold? Are they audited? Will you publish that? What stops you from the temptation to hypothecate and rehypothecate the gold? What are the expenses that will create fees to investors to pay for the storage and security of the gold? Schiff is a retard.

@Crypto_Tengen Debit card purchase facilitated via sale of underlying metal unfortunately is a taxable event for US people.

@Crypto_Tengen Why would anyone touch gold again when this happened? Its like touching a hot stove top and not learning from it.

@Crypto_Tengen Who is the second idiot and why is he so excited? As if tokenized gold doesn’t exist already 😂

@Crypto_Tengen Hahahahahahah I can’t believe this is actually real. Ask him how do I know if you actually have the Gold in the vault? Ask him how do I know if you’re not gonna freeze my Gold tokens? Ask him how do I know if you’re not going to block my transactions for having wrong politics?

@Crypto_Tengen PAXG and XAUT have been offering this since 2019 and 2020, and now Peter Schiff wakes up 6 years later -yawn. These are pure trust-me-bro IOUs, nothing like BTC, which does not need anything or anyone external to be tokenized, sent, or trusted.

FT @notthreadguy @PeterSchiff

@PeterSchiff Threadguy's reaction lmaooo

@PeterSchiff No f*cking way...

@Crypto_Tengen Funniest grift yet from Schiff

@Crypto_Tengen There already is @TheGoldDAO

@Crypto_Tengen @PeterSchiff check @meldgold

@Crypto_Tengen "First they hate you, then they join you".

@Crypto_Tengen Literally Peter:

@Crypto_Tengen Peter will announce a seizing by the government like his bank. Your gold go poof, more magical than a unicorn in Harry Potter's ass.

@Crypto_Tengen Who is the owner of this gold vault? Why should I trust the owner? What if the government confiscates the volt with all the gold inside? Buy Bitcoin instead!

@Crypto_Tengen This solves nothing. Same old system with TradFi. I give u real cash, hard earned and u give me hope and some numbers on the screen, tagged "tokenized gold" Months later the system (vaults) crashes, my hard earned money is gone. We back to endless court cases and heartbreaks!

@Crypto_Tengen Epic. The most outspoken anti crypto gold bull puts himself in the tokenized cuck chair and likes it.

@Crypto_Tengen So basically an ETF. 3rd party gate keepers issuing IOUs Nothing new about this at all.