Bitcoin community not happy with Peter Zeihan’s criticisms on Joe Rogan podcast

Bitcoin (BTC) assemblage members went connected societal media to respond to the claims of Peter Zeihan, 1 of the astir caller guests connected the Joe Rogan Experience (JRE) podcast. 

In a caller JRE episode, Zeihan, who is an American geopolitical expert and writer claimed that crypto was ever a “hot dumpster fire” and that Bitcoin has nary intrinsic value. The expert claimed that the fig 1 integer plus by marketplace capitalization is present being priced “more appropriately.”

In addition, Zeihan argued that Bitcoin which is now trading astatine astir $17,000 astatine the clip of penning volition spell down by $17,000 more, saying that its due terms is wrong the negatives. He added:

“The craziest happening astir Bitcoin is that determination volition ne'er beryllium much than X fig of units of Bitcoin. By default, it means it can't beryllium utilized for trade.” 

Zeihan besides made the statement that the “whole thought of economical enactment is that there's enlargement which means you request much currency to lubricate and negociate that expansion.” The expert argued that if a currency’s proviso is locked, determination volition beryllium monetary ostentation and this could “destroy an economical model.”

Cast your ballot now!

Because of Zeihan’s comments, Bitcoiners astir instantly offered their responses and offered counterarguments to Zeihan’s claims. Some assemblage members instantly pointed retired that the expert has not work and understood the Bitcoin whitepaper.

Bitcoiner highlighting the archer of not speechmaking the BTC whitepaper. Source: Twitter

Swan Bitcoin enforcement Alex Stanczyk besides criticized the JRE impermanent and said that his comments are ignorant. “Almost each azygous happening this ‘expert’ said successful this abbreviated span of clip is implicit nonsense,” Stanczyk wrote. 

Jeff Ross, the laminitis of the Vailshire Capital hedge fund, besides pointed retired the flaws successful Zeihan's arguments. He tweeted:

— Dr. Jeff Ross (@VailshireCap) January 8, 2023

Meanwhile, 1 assemblage subordinate proudly defended Bitcoin and argued that immoderate of its characteristics springiness it intrinsic value. This includes scarcity, being deflationary, the information that it tin beryllium divided into smaller amounts called "Satoshis" and decentralization. 

Related: Bitcoin mining stocks surge with broader marketplace arsenic traders spot little assertive Fed

While Rogan didn’t reason with Zeihan’s claims successful the episode, the fashionable podcaster has antecedently voiced affirmative sentiments toward Bitcoin. On May 4, Rogan said that BTC is akin to the aboriginal net and that the authorities did not spot it coming. The podcaster besides highlighted that it is simply a "viable signifier of currency" and that it tin beryllium utilized to acquisition things.