Warren Buffet said that crypto was like the chain letters of the 1980's. Now Fred,with your limited/semi limited understanding of crypto,do you think thats a correct assessment? Of course it isnt,its impossible to make the connection.And this is from a guy with an enormous team. These people arent Gods.Most were in the right place at the right time and,I say again,when their 'bitcoin moment' appeared,they grabbed it.
Yes, I think the comparison is apt, and is turbocharged by the Internet and social media, which were not available in the heyday of chain letters. Damn right, they're not. The crypto bros, that is. Remember, you mentioned Buffett, not me. And remember that he's the value guy who has been sniffing for value before your parents were born, and doing it very successfully ever since. And remember that he only smells feculence at the mention of crypto. I think it's fascinating how you guys summarily dismiss someone like Buffett but embrace here-today-gone-tomorrow used car salesmen in plaid touting "mankind's greatest asset and achievement."
Well, there's no denying that's a Lamborghini. Now can you please prove that it's yours so we can put the matter to rest and never mention it again?
Okay, and not to sound unreasonable, let's assume it is an original. But whose? Yours? Your neighbor's? You grandmother's? It may well be yours, but an original picture alone doesn't necessarily clinch it. Nice machine, though. Not my thing, but it looks good.
Just to confirm,you believe that because the technology 'blockchain' has 'chain' in it,that it is equivalent to a 'chain letter' which was snail mailed from person to person throughout the country on threat of 10 years of bad luck should you not pass it on?? If I havent misinterpreted you,then,its time to agree to disagree and move on.Bitcoin isnt for everyone,least of all those who refuse to open their eyes to any new thing. For the record,I'm a big fan of Buffet (I actually didnt bring him into this conversation) but,if he was honest he would have said 'I havent even considered nor investigated the technology', but when youre getting 100 grand per interview that isnt great material.
I doubt that the "chain" in blockchain has anything to do with Buffett's comparison of crypto to chain letters. It certainly didn't occur to me. Rather it is the hype, urgency and hysteria that makes them comparable. At least that's my take, and I just assumed Buffett's is somewhere along those lines. You are correct, my mistake. But when TheDawn mentioned him, you did go on to comment, to paraphrase, that he was not relevant to the discussion. That is when I noted how Buffett is a lifelong value investor extraordinaire, how crypto touts screamed "value," and how Buffett was having none of it.