Warren Buffett: Stay Away From Bitcoin. It's A Mirage

Re:Warren Buffett: Stay Away From Bitcoin. It's A Mirage by Thiz on Friday March 14, 2014 @11:18AM (#7399317)

And that cube of gold will still represent all the wealth of the world, whatever that is, at any given time.

I pick the gold.

[ Parent | on HN ]

Re:Warren Buffett: Stay Away From Bitcoin. It's A Mirage by dllthomas on Friday March 14, 2014 @11:59AM (#7399681)

Would you say the same of all the tin in the world?

If not, what is special about gold? Are you confident that wouldn't change if all the gold were held by one individual?

[ Parent | on HN ]

Re:Warren Buffett: Stay Away From Bitcoin. It's A Mirage by pavel_lishin on Friday March 14, 2014 @11:31AM (#7399451)

How does a large sample of an element represent all the wealth of the world?

[ Parent | on HN ]

Re:Warren Buffett: Stay Away From Bitcoin. It's A Mirage by mpyne on Friday March 14, 2014 @12:08PM (#7399751)

"This piece of paper represents $1,000 worth of gold bullion, whatever that is, at any given time. I pick the paper".

[ Parent | on HN ]