January 27, 2023

Home Bitcoin News Bitcoin neighborhood not proud of Peter Zeihan’s criticisms on Joe Rogan podcast – Cointelegraph

Bitcoin neighborhood not proud of Peter Zeihan’s criticisms on Joe Rogan podcast – Cointelegraph

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Joe Rogan podcast visitor Peter Zeihan argued that Bitcoin has no intrinsic worth and that it’s going to go down by $17,000 extra.


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Bitcoin (BTC) neighborhood members went on social media to answer the claims of Peter Zeihan, some of the latest visitors on the Joe Rogan Expertise (JRE) podcast. 

In a latest JRE episode, Zeihan, who’s an American geopolitical analyst and writer claimed that crypto was at all times a “sizzling dumpster fireplace” and that Bitcoin has no intrinsic worth. The analyst claimed that the primary digital asset by market capitalization is now being priced “extra appropriately.”

As well as, Zeihan argued that Bitcoin which is now trading at around $17,000 on the time of writing will go down by $17,000 extra, saying that its acceptable worth is throughout the negatives. He added:

“The craziest factor about Bitcoin is that there’ll by no means be greater than X variety of models of Bitcoin. By default, it means it may possibly’t be used for commerce.” 

Zeihan additionally made the argument that the “entire thought of financial exercise is that there is growth which implies you want extra foreign money to lubricate and handle that growth.” The analyst argued that if a foreign money’s provide is locked, there will probably be financial inflation and this might “destroy an financial mannequin.”

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Due to Zeihan’s feedback, Bitcoiners virtually instantly provided their responses and provided counterarguments to Zeihan’s claims. Some neighborhood members immediately pointed out that the analyst has not learn and understood the Bitcoin whitepaper.

Bitcoiner highlighting the inform of not studying the BTC whitepaper. Supply: Twitter

Swan Bitcoin govt Alex Stanczyk additionally criticized the JRE visitor and stated that his feedback are ignorant. “Nearly each single factor this ‘knowledgeable’ stated on this quick span of time is full nonsense,” Stanczyk wrote. 

Jeff Ross, the founding father of the Vailshire Capital hedge fund, additionally identified the issues in Zeihan’s arguments. He tweeted:

In the meantime, one neighborhood member proudly defended Bitcoin and argued that a few of its traits give it intrinsic worth. This contains shortage, being deflationary, the truth that it may be divided into smaller quantities referred to as “Satoshis” and decentralization. 

Associated: Bitcoin mining stocks surge with broader market as traders see less aggressive Fed

Whereas Rogan didn’t argue with Zeihan’s claims within the episode, the favored podcaster has beforehand voiced positive sentiments toward Bitcoin. On Could 4, Rogan stated that BTC is just like the early web and that the federal government didn’t see it coming. The podcaster additionally highlighted that it’s a “viable type of foreign money” and that it may be used to buy issues.

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