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You might be interested in reading Warren Buffett's reasoning for not investing in crypto. Basically he says crypto produces no goods, products or services, and
by malfist 2y ago
You might be interested in reading Warren Buffett's reasoning for not investing in crypto. Basically he says crypto produces no goods, products or services, and it's only value comes from finding a "bigger fool" to pay a higher price than you did for it.
It's value is from speculation assuming future speculation will assume more future speculation
- desumeku 2y agoIt's easy to agree with this position if you deliberately ignore that the "service" crypto provides is a decentralized, censorship-resistent, self-contained, global system of finance that is designed specifically for the modern internet age and which does not need to be under the control of any particular nation-state or company in order to function. Otherwise, it is clear where the value comes from.
- 2OEH8eoCRo0 2y agoDo you think Buffett isn't aware of these things?
- desumeku 2y agoProbably. That guy is really old.
- sambapa 2y agoYeah yeah yeah, then why everyone is losing their shit when the amount of worthless, centralized dollars they can buy per one Bitcoin decreases? Hmmm...
- DrillShopper 2y agoDunning–Krugerrands