Bitcoin is essentially a modern moneygram....
Can moneygram quickly send money to people in over 180 countries who normally use only one of over 50 different currencies?
EDIT: I just checked:
moneygram = Lots of countries but only USD, no other currency.
BTC can be converted into a large and growing list of different currencies (sometimes with very low fees)
Bitcoin is much > moneygram.
I'm still disappointed that Buffett dissed Bitcoin just for the sake of doing it. I mean a guy like him should understand what value is.
A check or money order has no value..... what gives it value is the banks or institution issuing it and the clearing house.
I'm sure no1 here would accept a check issued by a no name bank (Cosmofly bank for ex.) So thats alone must have some value. Bitcoin has a public ledger that takes care of that.
Now tell me, how much a bank like Citigroup is worth?