I believe Peter Schiff doesn't understand blockchain

I believe Peter Schiff doesn’t understand blockchain

One of the recent memes on here with Matthew McConaughey’s scene from Interstellar had some comments from Peter Schiff showing up. I looked up Peter Schiff and found [this very interesting debate](https://youtu.be/q8R71WGO3qU).

I wrote a comment on that video, but to reiterate it again here is that I believe he doesn’t understand blockchain. He mentions all the mining and electricity being used is basically going to waste and that it has no intrinsic value other than the speculation behind it. It’s a great debate, but I think Erik Voorhees fails to address that blockchain is where the value is and that every time a miner validates a block, that miner essentially entombs for the rest of life the most recent transactions hashed in a chain with every other block of transactions that have ever occurred since the beginning. It is blockchain technology alone that removes trust and is revolutionary in how everyone will eventually conduct any kind of business. Peter Schiff brings good points, but I feel Erik is a textbook kind of individual and it would have been better if someone argued more for blockchain than bitcoin itself. What are your thoughts?



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