Quote:
Originally Posted by tophcfa
Warren Buffett, indisputably one of the most respected investors ever, stated he wouldn’t buy all the Bitcoin in the world for $25. Buffett believes assets have to have value, deliver something to somebody. He said he would gladly write a check for $25 billion for either 1% of all the farmland our apartment buildings in the country, those assets produce food and rent, but Bitcoin produces nothing. He further stated that the only thing one can do with Bitcoin is hope someone will be willing to buy it back and that it undermines the Federal Reserve system. In his strongest statement, Buffett said that Bitcoin is “probably rat poison squared”.
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People use the term Buffet like. I find that whole thought amusing. Buffet says I lost 44 million on that stock. I am Buffet like, except for reality. If, I lost 44 million dollars there would be a lot of people wondering how they were so dumb to LEND me that much money.
Bitcoin reminds me of tulip bulb trading like 600 years ago. There were wild swings.
Even the church was involved. Some people made a lot of money. When, it finally burned out the last holder discovered they held a pile of bulbs they paid way too much for.
Bitcoin. If you read about it, all these people buying and selling, "tulip bulbs." The dollar is based on the full faith and credit of the United States. It is no longer redeemable in gold or silver. That backing may be of depreciating value and respect. However, Bitcoin is backed by NOTHING. The creator does not actually exist. There is only rumor and suspicions. Imagine buying anything with Bitcoin. It's,"value," is compared to the dollar. The dollar itself fluctuates. OOPS you wanted to pay some number of bitcoins for xxxx it just dropped 5%.
Talk about HUH. People are buying real-estate cars, boats in the imaginary world called the metaverse. I understand you can choose your neighbors when you buy your non-existent lot.
It is or was a way to launder money.
Amusing to watch. Far as Tulips, far as I know the Villages is too hot for growing Tulips.