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RE: I don't like Justin Sun's acquisition of Steemit Inc, FORK HIS STAKE OUT #steemcash
paid over $4.5 million to have lunch with Warren Buffett
Woah, now that's an interesting development. Did you watch the interview?
Which interview?
No I did not watch it, do you know what crony capitalism is? Do you know that Bitcoin is 100% anarcho capitalistic and that STEEM should be too?
Of course, but the cronies are showing their hand, why wouldn't we look?
Not sure what you mean by that?
That's a fair statement. Justin Sun submitted the winning bid for the Glide Foundation's annual "charity" auction.
In the interview, Justin was asked why he wanted to have lunch with Warren Buffet. He gave three bullet points to explain his action.
Justin made a lot of money following WB's financial advice, so he wanted to "pay back" WB for his inspiration (with his $4.5 million donation to WB's "charity")
Justin makes the statement that the Glide "charity" is focused on local communities, like his tron and bit-torrent, so he wanted to contribute to funding. (fluffy answer)
Justin wants to be the "bridge" between the financial institutional investors and the crypto world - hoping that WB would soften his view against bitcoin and cryptos in general and encourage moneybag investors to begin buying on the exchanges to increase value.
Justin doesn't think he'll change WB's mind (which might be a good thing)
Still crony behaviour of Justin in my view... I dont care about "moneybag" investors... and Justin made his money on crony capitalistic behaviours.
End of story.
It's not right that anarcho-capitalists (real capitalists) get the short end of the stick while these guys dine on million dollar steaks.
I don't condone cronyism, however my view is that if investors begin diversifying into crypto, it will offer great opportunities for us as the value of cryptos increase.