Re:Warren Buffett: Explanation for why he doesn’t believe in...
by poiuytre11 on Sunday May 01, 2022 @10:09AM
(#31225131)
So, do you want to own the water or the power dam? Buffett's point is that people are buying water (i.e. bitcoin) at exhorbitant prices.
The distributed ledger technology is great, but it needs to be harnessed into a repeatable per-transaction money-maker to be useful. Anyone can over-pay for a bitcoin and hope they can sell it to someone fearing that they're missing out. The problem is that the FOMO crowd is thinning out.
Re:Warren Buffett: Explanation for why he doesn’t believe in...
by dogma1138 on Sunday May 01, 2022 @07:07PM
(#31229620)
> Just think of all the times where we have to use transactions that are immutable (so they can't be reversed), trustless (so there's nobody to blame), and decentralized (meaning you need economic incentives to do expensive work to reach a consensus that's correct).
Can you name at least one?
Just think of all the times where we have to use transactions that are immutable (so they can't be reversed), trustless (so there's nobody to blame), and decentralized (meaning you need economic incentives to do expensive work to reach a consensus that's correct). I'm sure there are tons, the decade old technology is brand new, it's gonna find use eventually I swear, by the way do you want to buy my bitcoin for dollars I can actually pay my taxes with?