Bitcoin Critic Peter Schiff Explains Why Proof Of Work Makes No Sense. Bitcoin Obituary #422
Obituary #422 · · Bitcoin at $102,683 · Added
“It's not backed by energy. Energy is used to create Bitcoin, but that energy is gone after Bitcoin is created. If you own Bitcoin you do not own any stored energy that can be released. Bitcoin is not a battery.”
Peter Schiff, Stock Broker / Economist · Bitcoin since: -21%