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A comment on Bitcoin has little shot at ever being a major global currency. Parent comment

Re:Bitcoin has little shot at ever being a major global curr... by sumedh on Thursday January 11, 2018 @04:27AM (#16122498)
> I wouldn't listen to his opinion on Bitcoin. He doesn't even pretend to understand it.

People said the same thing back in 1999 when he said he does not understand the tech boom and cannot figure out the winners from losers so he is going to ignore it.

People called him a dinosaur because he did not understand tech and you know what happened next. Most tech companies went bankrupt.

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Re:Bitcoin has little shot at ever being a major global curr... by rusk on Thursday January 11, 2018 @05:20AM (#16122706)
Dinosaur is a fair summation of Buffet's approach to investment. He's built his wealth on shying away from risk, identifying stable low-growth sectors and sinking his capital there. Very old fashioned and unsexy but pure sense.
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Re:Bitcoin has little shot at ever being a major global curr... by diego on Friday January 12, 2018 @12:48PM (#16134734)
And? The wealth created by the tech boom was immense and we have Google, Facebook and Amazon as some of the largest companies ever. You made my point.
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Re:Bitcoin has little shot at ever being a major global curr... by sumedh on Friday January 12, 2018 @05:20PM (#16136853)
The wealth destruction was immense too, looks like you forgot the losers of the tech boom like pets.com and kozmo.com and many others.

That was Buffett's point you could not pick out the winners beforehand.

Now do you understand the point?

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