[jimjamuser]

Originally Posted by tophcfa

OP here. Lots of false assumptions in the above quoted post. The motivation for starting the thread was to share with fellow Villagers what a very well respected investor had to say about Bitcoin. Your jumping to a lot of conclusions. Just like dogs, golf, pickle-ball, types of music, etc…, everyone has an opinion about the pros and cons of various things. I get that a lot of people have both made and lost lots of $$$ on crypto. People have also made money on snake oil. As a retired investment professional, what bothers me about crypto is that I like to invest in assets that have some intrinsic underlying fundamental value, which crypto doesn’t! What frustrates me about crypto is that many of the smart minds of our society are spending their time, effort, and brain power buying and selling a digital token that adds no value to society. The efficient allocation of capital is a critical element of a productive society. Crypto is consuming valuable capital with no productive benefits. Wouldn’t it be great if those efforts were instead geared toward real investments/businesses that actually provide needed goods and services?

Agreed, good post!