from tfa, Buffet stated:
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.....I hope bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be.
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He just seems unaware to me, simply compares it to money orders.
Someone pops up and asks him about bitcoin, he's spent a little time looking at it,
he states his opinion.
Like Paul Krugman did re: comparing the impact of the internet on business being equiv
to that of the fax machine.
And like these people who figure "..well, it just runs on computers... our has computers, we'll just
duplicate what bitcoin does, but we'll own and control it and do it better and keep it to ourselves."
They all appear to be unversed in bitcoin, and bitcoin takes some study.
Buffet mentions just one of Bitcoin's abilities, but the genius of it lies
in the nature of the network, coupled with incentives and bound by
the blockchain and the idea of HAVING, aka money. Which aligns
it w/ human nature.
Even if the EU+US+China+Russia+Africa -or- ALLBANKERS&Lawyers_ON_THE_PLANET
decided to build out a network to unify commerce, intellectual property, insurance pools,
micropayments, voting reform etc-
could they succeed in surpassing what is happening?
NO, THEY CANNOT
Bitcoin appeals to so many aspects of humanity it amazes me repeatedly,
there is something for anyone and so much more to come.
People reading this forum are tuned in to bitcoin but arrive for a lot of different reasons.
Copper has had value for millenia. What might DaVinci/BFranklin/AdamSmith/a_copper_Baron have said
re: some new-fangled situation where copper is spun into threads and then electrically shielded from its neighbors?
None would have said: "...clearly, there will be ethernet, and it will destroy/recreate newspaper publishing"
So, unless he really decides to investigate, Mr. Buffet simply doesn't yet realize what the protocol is.
Which is ok, and can be said of any of us.
"Since he's so successful, and bitcoin is some sort of money thing, let's see if he thinks its bullshit!"
But, as a cog, few seek my opinion on anything