Renowned for his skepticism towards Bitcoin, Peter Schiff persists in his critique of the cryptocurrency, especially in light of the recent halving event. Schiff highlights what he perceives as fundamental flaws in Bitcoin’s role as a digital currency. His primary concern lies in the substantial increase in the cost associated with completing a Bitcoin transaction, which now stands at a staggering $128.
Additionally, Schiff notes a significant delay in transaction processing times, with transactions taking over an hour to confirm. These developments, according to Schiff, render Bitcoin impractical for everyday transactions, thus challenging its viability as a digital currency.
Response to Schiff’s Claims
In response to Peter Schiff’s assertions regarding Bitcoin transaction costs and processing times, the cryptocurrency community has not been shy in expressing skepticism. Schiff’s claims, particularly regarding the substantial increase in transaction costs and processing times,
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