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7 years ago in #crypto by rok-sivante (75)
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Buffet is a bankster Wall Street shark disguised as a your friendly-grandpa-investor.
The guy directly profited from the bailouts in 2008 as he was holdings billions of shares in the very banks that caused the whole crash: http://www.mcclatchydc.com/news/nation-world/national/economy/article24532354.html
fair point to address...
I like the term economic dinosaurs! That’s exactly what they are! I can tell you if I was an entrenched billionaire in my 90s I doubt I’d be getting down with crypto either. What’s the point? You would just be spending time learning how your empire is going to unravel in the coming decades. Not sure I’d be interested either. Me on the other hand, I’m a 34 year old entrepreneur who is looking for cutting edge. Crypto is the future and I’m excited to get to witness this amazing change!! Thanks for the post!
your welcome. and great comment - very well-said!
There are always three stages of success which includes this philosophy;
1st- They mock you
2nd- They compete you
3rd- You win!
Quite similarly Bankers are trying to propagate negativity just to let down the crypto world ( Means they are at stage 2 at this time ). So, this shows the coming time belongs to digital world without an doubt because 3rd stage is all about Evolution of Crypto World. Resistance would have no meaning in front of it. I am so pleased to read your research based article and i appreciate the way you thrown light on different aspect of crypto world through logical examples, Wonderful @rok-sivante :)
It’s the blockchain technology that will be adopted. The “currency” is only as valuable as its perceived status. Bitcoin in my humble opinion was shot in its foot when it was pumped to such enormous heights. The perceived status by the mass majority is that it is now a tool for speculation. That’s a problem; not the technology itself. I heard the same thing with gold in 2011. I heard it’s a bubble many many times. I am still waiting for any kind of return on gold which I own. It’s wise to invest in crypto’s that have added utility value, not strictly a tool for speculation.
Moral of story: for heart health, eat nuts, exercise, don’t fight the New, adopt crypto currency 🤓
Dig thinker with the groovy, technicolored beard—I want to be timeless & up-to-date like that!
LOL. :-)
Well.
I can sympathize with him without a doubt. He was a brilliant business man but he was used to work on very different conditions... and if a 2nd generation industrial economist like Nouriel Roubini thinks Bitcoin is a Ponzi, a 1st generation industrial economist wouldn't be able to have a better judgement.
The truth is we can't blame the man for thinking like he does, and let's not forget the position he is in.
He won at life..
He set goals for himself, he acomplished them, and he's proud of himself.
He now has ALL the right to act superior and I respect him for it.
Cheers
Wow what a lot of comparison you place it here. Buffet in his field of knowledge is doing well but am damn sure he needs crypto cause this is the era of crypto. One thing am 100% certain about is that once in a blue moon great invention will hit the world. So it has been trade by barter, to fiat now crypto. So it will be wise to invest in it @rok-sivante
What a very interesting and well thought out and well written article. Do you not think that perhaps all that block chain technology is doing is simply shifting power from economists and bankers to tech wizards ? Maybe its not improving anything. As seen here on Steem, people are still very greedy and those who aren't economists or bankers, and who aren't tech wizards understand neither, but still want to buy the latest iphone..the end product is still the focus for the huge majority. Are the new controllers of the fiscal world, ie techies, any better moral judges than the bankers that preceded them ?
Again, great read, thanks and enjoy the rest of your weekend ? :-)
Pretty soon iPhones will be given away for free because users data is more valuable than the hardware. Only about 50% of the world's population is currently online but this is changing rapidly. Traditionally, companies have offered free services in exchange for user data but this has consolidated the power of information into the hands of a few centralized organizations who profit massively while the users who provided all the value receive very little in return. For example, WhatsApp was purchased by Facebook for $19 billion not because of some great technology or their 32 engineers but for their 500 million users data; the users received nothing in return. Blockchain technologies are changing this so that everyone has an opportunity to be rewarded for the value they add to a platform.
seriously, look at Steemit. £700 for a girl stood in front of a mirror in her underwear trying on clothes for 1.5 minutes or $35 for this fellas article which is carefully thought out and written and a great piece of content (regardless of whether one agrees or disagrees) ....where is the reward for adding value ? Its reward for the populism.
I don't disagree with you at all in regards to Steemit posts. My statement is probably better aligned with a project like BAT rewarding users for their attention.
The "problem" with Steemit is that they are committed to distributing a fixed amount of tokens to users regardless of the quality of the work. It's a finite resource that everyone in the ecosystem is competing over. Natural selection doesn't select traits because they are "high-quality"; they are selected only for survival. Unfortunately, survival in Steemit's ecosystem means spamming into oblivion and joining the populism.
Steemit's SMT, by contrast, functions more like a subreddit, or niche with specific rules for survival that the community enforces through the exchange of that community's token (similar to Reddit's moderators). "Girlsinfrontofmirrors" would have no incentive to post in "thoughtfulfellas" because that community would not reward such behavior and vice versa. This enables members of the SMT community to thrive without having to compete with the entire ecosystem. The most popular posts in the niche might then go back into Steemit broader ecosystem reflecting something like Reddit's "Rising" or "Hot" page.
No.
I'm no tech wizard. But stumbling into crypto completely changed around my financial life. And I'm not the only one that can say the same here. And, with what I've created/earned here, I've developed the capacity to pay forward the gifts - supporting a number of authors in third-world countries replace their monthly income.
Crypto is putting financial tools in the hands of billions whom it's been previously unavailable to.
Blockchain is enabling platforms like this, on which to create new forms of value, collaborate internationally with little friction, and reap the rewards of their input accordingly.
It's a game-changer.
Though ultimately, it's up to each individual to choose for themselves as to what to do with the opportunity... ;-)
And here is where the problem lies. People are greedy whatever the financial instrument, You are not altruistic because of crypto, you're altruistic cos you're a nice person.
I'm just a cynical old guy playing devil's advocate that's all. Crypto is a game changer but I just dont think its the saviour of humanity its painted out to be thats all :-)
Fine one sir god bless yoy sir
good post @rok-sivante . i like your post to much. thanks for sharing good post.