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Your argument is that one of the most successful investors in the history of mankind is physically incapable of understanding Bitcoin investment (or anything, f
by Cacti 9y ago
Your argument is that one of the most successful investors in the history of mankind is physically incapable of understanding Bitcoin investment (or anything, for that matter) just because he's old?
- adamnemecek 9y agoHe has a different worldview. He's made his money on old way of investing. Some of it applies, some doesn't. He would not be the first successful person to be wildly wrong about a new thing.
- epistasis 9y agoI would love hear one thing about investing before that doesn't apply now. Or one thing that Buffet doesn't understand about bitcoin that has any economic relevance. Those who say he doesn't get it seem infinitely more naive and ignorant than Buffet on this.
- adamnemecek 9y agoOne of the main differences is the fact that the value of a currency is fundamentally based on who accepts it. All economic theory prior to this is...i dont want to say outdated but needs to be reprioritized.
- Cacti 9y agoAre you seriously suggesting that "currency is fundamentally based on who accepts it" is a new idea?
- adamnemecek 9y agoNo?
- aetherson 9y agoI don't think that he suggested that he was "physically" incapable of understanding Bitcoin investment. But, I mean, sure. People get old and start to have difficulty comprehending things that get added to the world long, long after they built their mental model of the world. This happens even to smart people. Even to singularly smart people. I don't know if it's happened to Buffet or not, but if he lives long enough, it will.
- 55555 9y agoHow about maybe because he is extremely busy?