Well i totally agree with Buffet but not for the reasons many of you all may think. I think by the time i'm done you all will agree as well. So the problem is not that Buffet understands the technology and he's missing something about an advanced future world monetary system. The issue is our attempt to use products like bitcoin to replace present day financial systems.

That's where you all lose the argument and Buffet will win everytime. Buffet is correct in the context of how our financial systems are designed today that bitcoin is ridiculous. For example the point always made is security and authenticity censorship resistance etc.,.. but it's dumb for bitcoin to sit there and do nothing but that. The financial systems are much more complex than that and much of what you guys are thinking of it as is very much surface level observation. That's not actually how it works how you all are thinking it works.

So this is why it is so challenging to find use cases in crypto. Have you ever really sat and thought about why it seems so difficult for crypto have use cases in our modern world. I don't think you have. Because if you did you wouldn't give surface level responses like this. What buffet is saying is it doesn't matter if gold had a use case in our financial system it would always have a practical social human use case to give it's intrinsic value in the first place.

As to say you don't have to design a system around gold like you do bitcoin. If there was no financial system gold would still be valuable for religious reasons.. for ceremonail reasons for jewelry for currency and money due to it's durability for bartering. All of which bitcoin can not be.

We'd have to make up systems that run on electricity and the internet based on the internet to give this stuff value. it's just plain dumb the more you think about it. The value of gold is outside all of that and independent of it. It's a value to itself it doesn't quite need a network to be useful to some human some place and that's the point.

I"m sure you get that part. What you don't get is all these elements are necessary to have it composed of value down the long road. You can't just arrive at value and say okay it shoudl have value because i went and did this dumb thing to waste alot of energy of my own volition and because i was dumb and i wasted a ton of energy you should see it as valuable as well. it doesn't work that way. All cryptos do the exact same thing. bitcoin has some first mover advantage branding impact which i'd expect to some degree. that's it though.

I think it's also important not to get lost in the forest on this. I don't think Buffet has ever said this technology may not have some use security wise in the future. What buffet is saying as a direct financial instrument it's dumb. As to say you can have some logistical use of the blockchain and technology without necessarily a currency behind it.. Again i just feel like you all not at the level to have these type conversations and that's not an insult i just don't think you all are having the proper conversations.

l'm going to shorten this simply because i feel i'm wasting my time at this point. I don't blame you all here's what i see in hive. HIve is good for a beginner level introduction into crypto. Which means most people on hive not going to be coming in and understanding more complex situations with networks and economies. As well they shouldn't. So i give a waiver on that. I don't wanna pull people to that who not ready.

the problem is they miss alot in translation to this. Warren Buffet is not wrong he's right. The problem is you can't take this new system and make it fit like a glove to an existing broken capitalistic corporatist system that is in ruin itself. I'ts not the same thing and it's not based on the same principles.

So basically treating the blockchain with all these small businesses trying to practice broken capitalism doesn't work. The systems reject it. That's why the narratives are completely different. For example in capitalism if a Ceo a person at the top of the pyramid makes a billion times more than the average worker they go well he deserves it through the rules of capitalism.. okay that's great.

When it happens in crypto they go well the network not decentralized person A shouldn't own more than person B.. okay then that's stupid that means crypto is not in favor of promoting capitalism in that way. So that's dumb to talk about decentralization as a good tenet of the blockchain when in capitalism it's not that but we try to treat it that way. it's utterly stupid but people don't realize what they really pushing for in crypto is some type of technocratic communisn but they much too dumb to understand that., lol. Otherwise the tenets of the blockchain would be totally different. They wouldn't push for many of these ideas etc., that don't make sense.

IN other words capitalism doesn't promote decentralization of the blockchain. Warren Buffet knows that you all don't. So you go well decentralization is good .. how can it be good if you all keep trying to promote your capitalistic systems on the chain lol.. .that doesn't remotely make sense. Your systems are identical to the actual world and less efficient to house the systems.. So warren buffet thinks it's dumb and so do i and any other thinking person. i'd win that debate everytime.

it's dumb that bitcoin is suppose to be a currency and couldn't and became a speculation gimmick. THat's all it is.. So i'm done but if you think Buffet is wrong that means you haven't thought this through. For buffet to be wrong the blockchain wouldn't be strucutred anything like you all try to structure it.