Дебаты Чанпэна Чжао и Питера Шиффа: Биткоин против Золота The Debate Between Changpeng Zhao and Peter Schiff: Bitcoin vs. Gold

Binance’s founder, Changpeng Zhao (CZ), engaged in a debate with cryptocurrency critic Peter Schiff regarding the merits of digital assets compared to precious metals. The two opponents examined the nature of Bitcoin’s value and its advantages over gold.

Schiff contended that tokenized gold represents a legitimate proof of ownership of a tangible asset. In contrast, he argued that Bitcoin relies solely on belief, lacks physical form, and holds no intrinsic value. The economist emphasized that precious metals are essential in industry, while cryptocurrencies «offer nothing of substance.»

Zhao countered by pointing out the difficulties in dividing or verifying physical gold during transactions.

*“The internet is virtual, yet it holds value. Bitcoin may not exist in a physical form, but when I send 1 BTC, the transaction is recorded on the blockchain […]. No one knows the total amount of gold in the world, but with the first cryptocurrency, we know exactly how much exists and where it is,”* remarked CZ.

The dialogue also touched on market performance. Schiff noted that over the past four years, precious metals have outperformed Bitcoin. Zhao suggested extending the timeline to eight years, asserting that during this period, cryptocurrency yields a better outcome.

Throughout the discussion, the Binance founder highlighted the efficiency of digital transactions. He pointed out that bank transfers can take days, while blockchain transactions occur within minutes.

Schiff responded by saying that crypto cards merely convert Bitcoin into fiat currency for purchases. CZ retorted that the user’s concern is the successful completion of the payment, not the technicality of the process. He further posed a rhetorical question:

*“How many people today use gold for purchasing goods?”*

The debate concluded on a friendly note, with Schiff proposing to create a card for his business, although both speakers maintained their positions.

It’s worth noting that in October, Zhao criticized Schiff Gold’s new RWA product.