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BTC Will Drop to Zero, Bitcoin Critics Laughs At Bitcoin Scalability

Highlights

    Peter Schiff conducts an online poll to know whether Bitcoin holders will sell off their holdings if Bitcoin doesn’t reach $10,000

    The result appears to be quite amazing, with about 60 per cent of over 17,000 users aren't willing to sell off their holdings

    The poll received mixed reactions with the gold and bitcoin supporters on either side.

    Another Bitcoin critic joined Peter and mocks at Bitcoin scalability, says 'BTC will drop to Zero'

Gold advocate Peter Schiff who is famously known as Bitcoin critic ran a poll on twitter. He wanted to know how many Bitcoin Holders are willing to sell off their holdings if Bitcoin price does not reach $10K mark. 

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While the poll is still active, more than half of people opted to keep Bitcoins with them for the rest of their life!

Bitcoin Holders Opt – I am Taking it to my Grave 

The poll is still active for people to vote, however the possible outcome of the result may be that Bitcoin holders will keep on holding. Or in Peter’s language, bitcoin holders want to take it to their graves. 

“This quiz is for Bitcoin HODLers. How much longer does the price of Bitcoin have to stay below $10,000 before you will throw in the towel and Sell”

He provided with the options,

  1. 1 more year
  2. 3 more years
  3. 10 more years
  4. I’m taking it to my grave

The first three options managed to gather nearly 15 per cent votes. But the rest about 60 per cent of 17,500 people voted for the last option, ‘I’m taking it to my grave’.

It clearly indicated that the people are moving with the bullish trend of Bitcoin, regardless of the fact that Bitcoin is still struggling to reach $10,000 mark from the past few months.

The Reactions to the Critics

With the poll, a war of words between the gold and bitcoin lovers. Some users supported gold but many were opted for Bitcoin. Users on twitter criticized Peter Schiff and also asked him to be more diversified than only gold.

The only point the gold supporters raised was gold at present has hit the highest ever in terms of price and Bitcoin is still having a roller coaster ride. 

Whereas some users believe gold and Bitcoin both have their own value and advantages. Among them were some fine users who got the main intensions behind the poll, Attention. Really?

While some of the users who discover that about 60% of the people are taking Bitcoin till their grave and not willing to sell them off, predict a bull run for the digital asset and also said that it will outperform gold in the coming years.

Calvin Ayer Criticized Bitcoin, Joins Peter’s Rally

Calvin Ayre, founder of Ayre Group and CoinGeek, also a Bitcoin SV supporter, replied to the poll saying that Bitcoin will crash to zero.

However, Bitcoin lovers criticized heavily and also asked him to update himself with the recent happenings. 

Is Peter Schiff at Odds with Bitcoin?

Peter Schiff’s poll which he conducts on twitter every now and then clearly states that he is less enthusiast of crypto but a gold supporter. However, he made his stands clear with a tweet that he believes that Bitcoin will never be successful as money but the price would keep on rising.

Recently, in Jan 2020, Peter alleged that his wallet got corrupted and he was not able to access his bitcoins with his address. Later he took on twitter to conclude that he had mistaken the pin with the password. 

In a nutshell, we can say that Peter Schiff is a gold supporter and believes bitcoin cannot overtake the monetary system as per some reports. Besides finding fault with Bitcoin most of the times, he owns some amount of Bitcoin 

In the tug of war between the gold and Bitcoin, possibilities of Schiff using Bitcoin to promote his gold company by indirectly aiming at the investors has risen above the sea level. Probably he conducts these polls to drag the attention of the investors who are in search of a safe investment.

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Sara K

Sara is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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