Lunch with Warren Buffett

[themickey]

.....The war on drugs is a complete failure and just a huge cash cow for not only the criminals, but also government officials and private companies who produce products to fight it. If you really want to solve the problem, legalize the use, production and distribution of drugs, and offer medical help to those who seek help for their addiction.)

Yup, think about it, when covid vaccine was introduced legally, a huge percentage of the population were wary of it and avoided it due to it 'as harmful'.

If people avoid something legal then that should also apply to other (illicit) drugs.
Problem is big brother gummint hates competition, so big bother gummint steps in and makes the problem worse by creating scarcity which creates inflated prices which creates an underworld big business. Don't tell me gummint not getting kickbacks somewhere in this process.
The more shit you make illegal, better for gummint, it creates employment for them.

 

[newwurldmn]

Here was my take. SteveM seemed to make the connection that anyone attracted to crypto is a scumbag. Then he said crypto only made it big because it was used to facilitate drug payments. This same argument has been used by even public officials I think, that the only use case for crypto is illegal trade.

Alright, so if a method of payment that is used for the drug industry is bad, we should do something about it, right? Well, the USD, as pictured, has clearly been used for much longer in the production and distribution of drugs. Does this make USD just as bad? Are the holders of USD also scumbags?

Ergo, using a method of exchange for illicit activity doesn't make the the method of exchange bad. Maybe its the illicit activity that needs to be addressed??

(And I for one don't even think we should do anything about drugs. The war on drugs is a complete failure and just a huge cash cow for not only the criminals, but also government officials and private companies who produce products to fight it. If you really want to solve the problem, legalize the use, production and distribution of drugs, and offer medical help to those who seek help for their addiction.)

I think his point was that crypto only got big because of illicit trade.

my argument would have been: so what. Netflix only exists because of the porn industry and the internet only exists because of nuclear war. iPods/Spotify exist because of music piracy. All disruptive things often start with something illegal or undesirable.

 

[NoahA]

I think his point was that crypto only got big because of illicit trade.

my argument would have been: so what. Netflix only exists because of the porn industry and the internet only exists because of nuclear war. iPods/Spotify exist because of music piracy. All disruptive things often start with something illegal or undesirable.

Sure, that makes sense, and you're right with what you say, but initially, it was that the internet was only for porn until they found other uses. I've even seen some bitcoin maximalists that do say bitcoin survived because it had this initial use case. But I'm sure we can all agree that the origin doesn't matter. A superior technology will find a way to transcend into something else.

 

[TheDawn]

Worst article ever. Spent the entire article talking about the idiot and not one detail about the actual SEC allegation except a link to the same article at the very last line.

If anyone is interested in knowing the actual allegation being brought by SEC against Justin Sun, here is the information: https://www.sec.gov/news/press-release/2023-59