Peter Schiff fails to authenticate gold bar during onstage test with CZ
Gold advocate Peter Schiff faced Binance co-founder Changpeng “CZ” Zhao during an event panel in Dubai, arguing that tokenized gold is a better store-of-value asset than Bitcoin.
A panel featuring gold advocate Peter Schiff and Binance co-founder Changpeng “CZ” Zhao at Binance Blockchain Week highlighted the challenges of verifying physical gold, after Schiff was unable to confirm whether a gold bar presented to him was genuine.
The debate centered on whether tokenized gold or Bitcoin (BTC) is a better store of value asset based on divisibility, portability, verifiability, durability and supply constraints — key factors in assessing an asset’s viability as money.
CZ argued that BTC is a better medium for storing value for several reasons, including the ability for any user to instantly verify the cryptocurrency through a full node or other methods that check a cryptographically secure public ledger.