--- title: "Meaning & Key Takeaway of: Gold actually has properties - you can…" description: "\"Gold actually has properties - you can use gold for all sorts of things. People value gold for the metal. Nobody values bitcoin for the bitcoin; they v..." image: "https://sms4smile.com/quotes/i/acc/peter-schiff-8095_believe_gold-actually-has-properties-you-can-use_2780771.png" --- # Gold actually has properties - you can use gold for all… ![“Gold actually has properties - you can use gold for all sorts of things. People value gold for the metal. Nobody values bitcoin for the bitcoin; they value it because they believe that they can exchange it for something else.” quote by Peter Schiff](https://sms4smile.com/quotes/i/acc/peter-schiff-8095_believe_gold-actually-has-properties-you-can-use_2780771.png) [Download](https://sms4smile.com/quotes/i/acc/peter-schiff-8095_believe_gold-actually-has-properties-you-can-use_2780771.png) [Open image](https://sms4smile.com/quotes/i/acc/peter-schiff-8095_believe_gold-actually-has-properties-you-can-use_2780771.png) > “Gold actually has properties - you can use gold for all sorts of things. People value gold for the metal. Nobody values bitcoin for the bitcoin; they value it because they believe that they can exchange it for something else.” [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Gold’s intrinsic value lies in its physical properties, whereas Bitcoin’s value is speculative, based on belief in its exchangeability. **In simple terms:** Gold is valued for material; Bitcoin for belief. Key Takeaway Assess intrinsic vs speculative value. Themes economics valuation cryptocurrency precious metals Mood analytical pragmatic skeptical Type financial educational When to use this quote - investment decisions - portfolio diversification - risk management - education seminars Key Concepts finance behavioral economics Questions to Reflect On - Why do people trust intangible assets? - How can you balance tangible and digital holdings? A Different Perspective Speculation can lead to volatility. ★ ★ ★ ★ ★ No ratings yet [Bitcoin](https://sms4smile.com/quotes/about/bitcoin/) [Gold](https://sms4smile.com/quotes/about/gold/) [Psychology](https://sms4smile.com/quotes/about/psychology/) [Value](https://sms4smile.com/quotes/about/value/) [Values](https://sms4smile.com/quotes/about/values/) ## Related quotes > [Bitcoin's value is the same: It will remain as long as it is the most efficient mechanism for transferring ownership.](https://sms4smile.com/quotes/fred-ehrsam/bitcoin-s-value-is-the-same-it-will-remain-as-long-as-it-is-the-most/) [Fred Ehrsam](https://sms4smile.com/quotes/author/fred-ehrsam/) > [The Internet will continue to be valuable so long as it is the most efficient mechanism for transferring data. Bitcoin's value is the same:…](https://sms4smile.com/quotes/fred-ehrsam/the-internet-will-continue-to-be-valuable-so-long-as-it-is-the-most/) [Fred Ehrsam](https://sms4smile.com/quotes/author/fred-ehrsam/) > [Blockchain assets derive value from their usefulness. Bitcoin has value because people value the payment network. BTC is required to use the network, so…](https://sms4smile.com/quotes/nick-tomaino/blockchain-assets-derive-value-from-their-usefulness-bitcoin-has/) [Nick Tomaino](https://sms4smile.com/quotes/author/nick-tomaino/) > [The obsession with gold, actually and politically, occurs among those who regard economics as a branch of morality. Gold is solid, gold is durable,…](https://sms4smile.com/quotes/christopher-hitchens/the-obsession-with-gold-actually-and-politically-occurs-among-those/) [Christopher Hitchens](https://sms4smile.com/quotes/author/christopher-hitchens/) > [When I look at asset prices; real estate, bonds, equities, vintage cars… I think that gold is actually one of the few assets that…](https://sms4smile.com/quotes/marc-faber/when-i-look-at-asset-prices-real-estate-bonds-equities-vintage-cars-i/) [Marc Faber](https://sms4smile.com/quotes/author/marc-faber/) > [Gold has intrinsic value. The problem with the dollar is it has no intrinsic value. And if the Federal Reserve is going to spend…](https://sms4smile.com/quotes/peter-schiff/gold-has-intrinsic-value-the-problem-with-the-dollar-is-it-has-no/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [When we are victorious on a world scale I think we shall use gold for the purpose of building public lavatories in the streets…](https://sms4smile.com/quotes/vladimir-lenin/when-we-are-victorious-on-a-world-scale-i-think-we-shall-use-gold-for/) [Vladimir Lenin](https://sms4smile.com/quotes/author/vladimir-lenin/) > [I'd rather get a nice warmup suit. That's something I can use. Gold medals just sit there. When I get old, maybe I could…](https://sms4smile.com/quotes/eric-heiden/i-d-rather-get-a-nice-warmup-suit-that-s-something-i-can-use-gold/) [Eric Heiden](https://sms4smile.com/quotes/author/eric-heiden/) > [Every seconds and minutes you've got, use it as if it was gold or diamonds.](https://sms4smile.com/quotes/anastasia-blanchard/every-seconds-and-minutes-you-ve-got-use-it-as-if-it-was-gold-or/) [Anastasia Blanchard](https://sms4smile.com/quotes/author/anastasia-blanchard/) > [A currency serves three functions: providing a means of payment, a unit of account and a store of value. Gold may be a store…](https://sms4smile.com/quotes/nouriel-roubini/a-currency-serves-three-functions-providing-a-means-of-payment-a-unit/) [Nouriel Roubini](https://sms4smile.com/quotes/author/nouriel-roubini/) > [It is a terrible situation when the Government, to insure the National Wealth, must go in debt and submit to ruinous interest charges, at…](https://sms4smile.com/quotes/thomas-a-edison/it-is-a-terrible-situation-when-the-government-to-insure-the-national/) [Thomas A. Edison](https://sms4smile.com/quotes/author/thomas-a-edison/) > [Silver is of less value than gold, gold than virtue.](https://sms4smile.com/quotes/horace/silver-is-of-less-value-than-gold-gold-than-virtue/) [Horace](https://sms4smile.com/quotes/author/horace/) > [Gold is a commodity; over the long run, as we look back, it has not been a good investment. You can't look at the…](https://sms4smile.com/quotes/michael-lee-chin/gold-is-a-commodity-over-the-long-run-as-we-look-back-it-has-not-been/) [Michael Lee-Chin](https://sms4smile.com/quotes/author/michael-lee-chin/) > [“Throughout history, tin-men have always sat on golden thrones because if you are nothing but a cheap tin with an inferiority complex, you try…](https://sms4smile.com/quotes/mehmet-murat-ildan/throughout-history-tin-men-have-always-sat-on-golden-thrones-because/) [Mehmet Murat ildan](https://sms4smile.com/quotes/author/mehmet-murat-ildan/) > [It was important that people come to value light as we value gold, silver, paintings, objects.](https://sms4smile.com/quotes/james-turrell/it-was-important-that-people-come-to-value-light-as-we-value-gold/) [James Turrell](https://sms4smile.com/quotes/author/james-turrell/) ## More by Peter Schiff > [Most paper money initially existed as a substitute for gold. That's what gave it value. But right now what gives a currency value is…](https://sms4smile.com/quotes/peter-schiff/most-paper-money-initially-existed-as-a-substitute-for-gold-that-s/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [Perhaps the most important reason to be skeptical of government inflation numbers is that the government, like a fox campaigning to guard a hen…](https://sms4smile.com/quotes/peter-schiff/perhaps-the-most-important-reason-to-be-skeptical-of-government/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [When the dollar collapses, it's not doing it in a vacuum. If the dollar loses value, it's doing so relative to some other currency.…](https://sms4smile.com/quotes/peter-schiff/when-the-dollar-collapses-it-s-not-doing-it-in-a-vacuum-if-the-dollar/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [Every time the market has corrected, since 2008, it's always been the Fed that's made the bottom. The Fed has always saved the market…](https://sms4smile.com/quotes/peter-schiff/every-time-the-market-has-corrected-since-2008-it-s-always-been-the/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [“Boom/bust cycles are not inevitable and would not occur were it not for the inflationary monetary policies that always precede recessions.”](https://sms4smile.com/quotes/peter-schiff/boom-bust-cycles-are-not-inevitable-and-would-not-occur-were-it-not/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [We had a very upwardly mobile economy, and that peaked around the 1950s when the typical middle-class American family consisted of a father with…](https://sms4smile.com/quotes/peter-schiff/we-had-a-very-upwardly-mobile-economy-and-that-peaked-around-the/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [Printing money creates inflation, which weakens an economy. Unfortunately, this kind of common-sense thinking never seems to penetrate academic circles.](https://sms4smile.com/quotes/peter-schiff/printing-money-creates-inflation-which-weakens-an-economy/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [The fiat-based system has produced enormous global imbalances that are straining the global economy. Ultimately, I think the whole thing gives way and what…](https://sms4smile.com/quotes/peter-schiff/the-fiat-based-system-has-produced-enormous-global-imbalances-that/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [Central banks are choosing to increase their gold holdings as a percentage of total reserves. They obviously think there is a reason to do…](https://sms4smile.com/quotes/peter-schiff/central-banks-are-choosing-to-increase-their-gold-holdings-as-a/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [Once the government runs out of foreign and private sector bidders for new Treasurys, the Federal Reserve will be the only buyer, and the…](https://sms4smile.com/quotes/peter-schiff/once-the-government-runs-out-of-foreign-and-private-sector-bidders/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [The real bubble in China is in US Treasuries, in US dollars.](https://sms4smile.com/quotes/peter-schiff/the-real-bubble-in-china-is-in-us-treasuries-in-us-dollars/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [My mother always taught me that two wrongs don't make a right. We shouldn't bail out Wall Street. We shouldn't bail out Detroit. It…](https://sms4smile.com/quotes/peter-schiff/my-mother-always-taught-me-that-two-wrongs-don-t-make-a-right-we/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [The one place that bitcoins seem to be used as money is in crime.](https://sms4smile.com/quotes/peter-schiff/the-one-place-that-bitcoins-seem-to-be-used-as-money-is-in-crime/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [Gold has worked for thousands of years, but now with the Internet, it works even better.](https://sms4smile.com/quotes/peter-schiff/gold-has-worked-for-thousands-of-years-but-now-with-the-internet-it/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [Most governments, not all of them, but most, certainly don't want their citizens using gold. They want them in the currency that they are…](https://sms4smile.com/quotes/peter-schiff/most-governments-not-all-of-them-but-most-certainly-don-t-want-their/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) [Explore all 84 Peter Schiff quotes ](https://sms4smile.com/quotes/author/peter-schiff/) ## More Believe quotes > [I actually think acting is a form of self-hypnosis. You have to be hyper, hyper aware of what's going on around you. You have…](https://sms4smile.com/quotes/julianne-moore/i-actually-think-acting-is-a-form-of-self-hypnosis-you-have-to-be/) [Julianne Moore](https://sms4smile.com/quotes/author/julianne-moore/) > [Some people still believe you should just fall in line with what's going on - and that's scary. It makes a mockery of freedom…](https://sms4smile.com/quotes/emily-robison/some-people-still-believe-you-should-just-fall-in-line-with-what-s/) [Emily Robison](https://sms4smile.com/quotes/author/emily-robison/) > [The truth seems to be that propaganda on its own cannot force its way into unwilling minds; neither can it inculcate something wholly new;…](https://sms4smile.com/quotes/eric-hoffer/the-truth-seems-to-be-that-propaganda-on-its-own-cannot-force-its-way/) [Eric Hoffer](https://sms4smile.com/quotes/author/eric-hoffer/) > [Resist discouragement by speaking His Word over your future. Keep standing. Keep hoping; keep believing because He is working behind the scenes. He's going…](https://sms4smile.com/quotes/joel-osteen/resist-discouragement-by-speaking-his-word-over-your-future-keep/) [Joel Osteen](https://sms4smile.com/quotes/author/joel-osteen/) > [I can't believe that I'm sitting in meetings with Steven Spielberg, Tom Hanks, and Annette Bening. I want to take on that responsibility to…](https://sms4smile.com/quotes/roger-ross-williams/i-can-t-believe-that-i-m-sitting-in-meetings-with-steven-spielberg/) [Roger Ross Williams](https://sms4smile.com/quotes/author/roger-ross-williams/) > [There is no such word as item girl in the dictionary. People have created this word and I don't believe that I am an…](https://sms4smile.com/quotes/shefali-zariwala/there-is-no-such-word-as-item-girl-in-the-dictionary-people-have/) [Shefali Zariwala](https://sms4smile.com/quotes/author/shefali-zariwala/) > [I understand that it's the music that keeps me alive... That's my lifeblood. And to give that up for, like, the TV, the cars,…](https://sms4smile.com/quotes/bruce-springsteen/i-understand-that-it-s-the-music-that-keeps-me-alive-that-s-my/) [Bruce Springsteen](https://sms4smile.com/quotes/author/bruce-springsteen/) > [I don't really like too much credit. I know nobody's going to believe this, but I'd rather be able to score goals and nobody…](https://sms4smile.com/quotes/bradley-wright-phillips/i-don-t-really-like-too-much-credit-i-know-nobody-s-going-to-believe/) [Bradley Wright-Phillips](https://sms4smile.com/quotes/author/bradley-wright-phillips/) > [“What I have a problem with is not so much religion or god, but faith. When you say you believe something in your heart…](https://sms4smile.com/quotes/penn-jillette/what-i-have-a-problem-with-is-not-so-much-religion-or-god-but-faith/) [Penn Jillette](https://sms4smile.com/quotes/author/penn-jillette/) > [Bush reiterated his stand to conservatives opposing his decision on stem cell research. He said today he believes life begins at conception and ends…](https://sms4smile.com/quotes/jay-leno/bush-reiterated-his-stand-to-conservatives-opposing-his-decision-on/) [Jay Leno](https://sms4smile.com/quotes/author/jay-leno/) > [Never underestimate the power of the human mind to believe what it wants to believe, no matter the conflicting evidence.](https://sms4smile.com/quotes/brian-herbert/never-underestimate-the-power-of-the-human-mind-to-believe-what-it/) [Brian Herbert](https://sms4smile.com/quotes/author/brian-herbert/) > [To believe in love, to be ready to give up anything for it, to be willing to risk your life for it, is the…](https://sms4smile.com/quotes/leonardo-dicaprio/to-believe-in-love-to-be-ready-to-give-up-anything-for-it-to-be/) [Leonardo DiCaprio](https://sms4smile.com/quotes/author/leonardo-dicaprio/) > [That's why I don't generally talk about endorsements because I don't believe we have to tell people who to vote for.](https://sms4smile.com/quotes/martin-luther-king-iii/that-s-why-i-don-t-generally-talk-about-endorsements-because-i-don-t/) [Martin Luther King III](https://sms4smile.com/quotes/author/martin-luther-king-iii/) > [Mankind have been slow to believe that order reigns in the universe-that the world is a cosmos and a chaos.](https://sms4smile.com/quotes/james-a-garfield/mankind-have-been-slow-to-believe-that-order-reigns-in-the-universe/) [James A. Garfield](https://sms4smile.com/quotes/author/james-a-garfield/) > [We instantly believe everything we think. Isn't that insane? It's good for us to explore the depravity of our minds, so we know we…](https://sms4smile.com/quotes/krishna-das/we-instantly-believe-everything-we-think-isn-t-that-insane-it-s-good/) [Krishna Das](https://sms4smile.com/quotes/author/krishna-das/) Browse all 47,704 Believe quotes ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Gold actually has properties - you can use gold for all sorts of things. People value gold for the metal. 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