Peter Schiff engaged in a debate with CZ at Binance Blockchain Week after challenging Bitcoin’s legitimacy as a generator of real economic value.
Speaking on stage opposite Changpeng Zhao (CZ), Schiff argued that Bitcoin is a zero-sum wealth transfer rather than a productive ***** et.
Here is Schiff’s full statement as delivered during the debate:
"All Bitcoin does is enable a transfer of wealth from people who buy BTC to the people who sell it. When Bitcoin is created, there's no real wealth. We have about 20 million Bitcoin now that we didn't have 15 years ago. But we're no better off bec