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Crypto hater Peter Schiff to drop Bitcoin Ordinals NFT art collection

admin by admin
May 27, 2023
in CryptoCurrency
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Crypto hater Peter Schiff to drop Bitcoin Ordinals NFT art collection
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In what sounds like a parody but is not, economist, gold supporter and ardent crypto skeptic Peter Schiff has unveiled a collaborative non-fungible token (NFT) art collection on bitcoin that will soon go up for auction.

Reaction from the crypto community has been mixed, with people generally being amused, appalled, welcoming — especially supporters of Ordinals — or willing to point out the blatant hypocrisy.

Over the years, Schiff has actively bashed crypto — specifically bitcoin (BTC) — at any opportunity, with his Discussion Essentially a Ponzi-Scheme revolving around BTC that has no inherent value.

Despite all of that, Schiff unveiled the “Golden Triumph” collection via Twitter thread on May 27, which goes by the pseudonym of a collaboration with one of her “favorite artists”. market price.

“The collaboration features the original painting ‘Golden Triumph’ as ​​well as a series of prints and ordinals inscribed on the bitcoin blockchain,” he wrote.

golden victory Made of A physical painting on an oil linen canvas depicting a human hand holding a gold bar, 50 prints on archival paper depicting the same image and 50 digital versions inscribed on bitcoin as Ordinal NFTs.

The collection will be sold through a two-part auction starting June 2 and ending June 9. For ordinals, the highest bidder will receive #1 of the collection, with the next 49 highest bidders receiving #2 to #50 in descending order. order.

However it appears that Schiff hasn’t made a complete switch to BTC, and has instead woken up to the use of blockchain technology; Verifiable ownership of assets such as art through NFTs.

User @LoneStartBitcoin comments on Schiff’s Twitter post Asked: “So… labeling your ‘gold’ on bitcoin is valuable, but bitcoin (BTC) itself is not valuable?”

“Correct,” replied Schiff.

Connected: Peter Schiff blames ‘too much government regulation’ for worsening financial crisis

Along with his disdain for crypto, Schiff has also criticized NFTs on several occasions in the past,

For example, in a March 2021 blog post, Schiff It has been told NFTs as “fake assets” that provide nothing more than ownership of a digital image that can be “replicated endlessly” online.

“But even as the owner of the image, you won’t be able to control access to it. The file has been copied thousands of times, so anyone with access to the internet can see it just as much as you ”

The sharp change in sentiment follows a similar vein to that of former US President Donald Trump, who has aggressively slammed cryptocurrencies on multiple occasions prior to his involvement in NFTs.

Back in December, Trump teased a “major announcement” ahead of unveiling the Licensed Trump Digital Trading Card Collection, which MAGA supporters deemed politically relatable.

magazine: NFT Creator: Top 10 crypto artist Trevor Jones on getting rich, rekt and rich again