NEW: Lyn Alden just posted the most brutal chart in macro.
230 years of data showing the buying power of the US dollar collapsing to almost zero after the Federal Reserve, the Gold Reserve Act, and the Nixon Shock.
The end of the debate between CZ and Peter Schiff was striking.
During the discussion about 'Bitcoin versus Gold,' CZ surprised his opponent by pulling out a gold bar and asked him to verify if it was genuine or not.
Peter could not ascertain its authenticity without using special gold testing tools.
Here, CZ's message was practical and clear:
Bitcoin transactions are verified instantly and transparently through the blockchain,
while gold, despite its value, cannot be easily authenticated even in the simplest situations.
In summary: Bitcoin = Instant and quick verification Gold = Complex verification with special tools ❗