Bitcoin Versus Tokenized Gold: Changpeng ‘CZ’ Zhao And Peter Schiff Agree To Debate In Dubai
Synopsis
The debate follows a clash over Peter Schiff’s plans to launch tokenized gold after CZ criticized it for lacking true on-chain ownership.
- Changpeng Zhao accepted Peter Schiff’s debate challenge, inviting him to Binance Blockchain Week in Dubai.
- The debate follows a clash over Schiff’s plans to launch tokenized gold.
- CZ criticized tokenized gold for lacking true on-chain ownership.
Binance co-founder and former CEO Changpeng ‘CZ’ Zhao on Friday accepted Peter Schiff’s challenge for a debate, inviting the gold bull to the upcoming Binance Blockchain Week in Dubai, scheduled for December.
“I might lose the debate, and more publicity for your new tokenization company,” CZ said in a post on X.
Bitcoin Versus Tokenized Gold Sparks Online Clash
The debate stems from a heated exchange earlier this week over Schiff’s plans to launch a tokenized gold product. CZ criticized the concept, arguing that tokenizing gold does not constitute true on-chain ownership.
“Tokenizing gold is NOT ‘on chain’ gold,” CZ wrote. “It’s tokenizing that you trust some third party will give you gold at some later date, even after their management changes, maybe decades later, during a war, etc. It’s a ‘trust me bro’ token. This is the reason no ‘gold coins’ have really taken off.”
Schiff responded by emphasizing the value of tangible ownership. “Most people prefer owning something to owning nothing,” he wrote, defending traditional gold ownership.
Following this exchange, Schiff had challenged CZ to debate Bitcoin versus tokenized gold. CZ acknowledged the offer in a follow-up post, stating, “I am in the mood for it. As much as you voice against Bitcoin, you are always professional and non-personal. I appreciate that. Can have a debate about it.”
Schiff confirmed his agreement, noting that several people had already offered to moderate the discussion. “Absolutely. Several people have already reached out to me, offering to moderate. Do you have a preference?” he wrote on X.
Get updates to this developing story directly on Stocktwits.<
Read also: BTC Price Climbs As Investors Await CPI, Trade Talks Between Trump And Xi
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.