Schiff has TWO perspectives. It is difficult to keep track of his two corners as he seems to lose track himself occasionally by overlapping his corners. As an investment he sees bitcoins as a ponsi scheme. As money and currency he sees some merit. To understand Schiff's perspective on bitcoins as money and currency, one only has to understand Schiff's rosie perspective on James Turk's GoldMoney [developed in 2001] and digital gold, then compare bitcoins with GoldMoney. Schiff fully recognizes the value of digital distribution systems and the merits of how well bitcoins engage efficient delivery. Digital gold and bitcoins are quite similar overall but inversely bear some assets and liabilities. Schiff is also aware of the reality that due to pressures from fascist global banking/money regulation, James Turk has [temporarily?] taken his digital gold service offline. Whether bitcoins will endure such pressures is yet to be seen.
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