Peter Schiff fails to authenticate gold bar during onstage test with CZ
Peter Schiff could not verify a gold bar's authenticity during a debate with Binance's CZ on asset stores of value.Summary
During Binance Blockchain Week, gold advocate Peter Schiff and Binance co-founder Changpeng “CZ” Zhao debated whether tokenized gold or Bitcoin is a superior store of value, focusing on verifiability. CZ presented Schiff with a gold bar marked with details like weight and serial number, asking if it was real, to which Schiff admitted, "I don't know," drawing audience reaction. CZ argued Bitcoin is superior because it can be instantly verified via a public ledger, whereas tokenized gold relies on trusting the issuer. Bitcoin advocates contend that tokenizing real-world assets doesn't solve underlying issues like centralization and counterparty risk in physical gold. The article notes that definitive gold verification requires fire assaying, a destructive method, as non-destructive tests like X-Ray Fluorescent Spectroscopy are limited in scope, according to the London Bullion Market Association (LBMA).
(Source：Cointelegraph)