I think Peter is way off the mark on this. He talks about once gold starts to rise people will sell their Bitcoins and get into gold because he believes people are only buying bitcoin because it's 'digital gold' and once the real thing start to rise people will jump ship on Bitcoin causing it to come crashing down.
I don't think Bitcoin and Gold are competing with one other. I think they are both competing against central banking fiat right now which has like 99% of population under it's control. It seems more likely that Bitcoin and Gold will raise together and the central banking fiat will fall. Maybe after the central banking fiat crashing and gets thrown to the wayside a real clash between Bitcoin and Gold might happen but that is probably several years down the road.
Another thing I have a problem with is when Peter says Bitcoin has no real value. Being a libertarian and a expert on central banking Peter should know full well the value in having a decentralized currency that can't being inflated or deflated by central banks. Just that property alone makes in valuable to liberty lovers around the world and Peter should understand as a libertarian but he's just to fixated on Gold that he can't see the big potential in Bitcoin.
Maybe when Bitcoin reaches 100,000 dollars he will start changing his tune.