Warren Buffett gives his most expansive explanation for why he doesn’t believe in bitcoin

Frederick Foresight said:
I'm old and slow. Give me the big picture, not the details. What basic underlying assumptions make it possible for the USD to get its own digital currency in order to combat inflation, as you suggested?
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Well for one, they would be able to keep track of every dollar, right down to the cent. This means less corruption, more taxes being paid, it also means less money would be hidden from people laundering. This will generate more revenue right? However, it also means that all the corruption within the government will be exposed, (If you don't think the government is 100% honest about everything). Which is a big reason why they are debating it now.
 
Trader Curt said:
Well for one, they would be able to keep track of every dollar, right down to the cent. This means less corruption, more taxes being paid, it also means less money would be hidden from people laundering. This will generate more revenue right? However, it also means that all the corruption within the government will be exposed, (If you don't think the government is 100% honest about everything). Which is a big reason why they are debating it now.
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Assuming any of this will work out as you suggest, how will it fight inflation, which was your point? And I thought one the appeals of cryptos was the inherent anonymity, whereas what you're suggesting is Big Brother on steroids.
 
Frederick Foresight said:
Assuming any of this will work out as you suggest, how will it fight inflation, which was your point? And I thought one the appeals of cryptos was the inherent anonymity, whereas what you're suggesting is Big Brother on steroids.
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Wouldn't you think that the with more money being tracked and accounted for there would be less need for printing?

And I never said anything about Bitcoin being anonymous. I don't know where you got that from.
 
Where is there ANY evidence in public domain. Where did you get such information? Curious...

Trader Curt said:
What do you want me to do? Show you his phone logs? LOL. It's no secret he does insider trading. A lot already know about it too

Sorry bud, your hero is a cheating dirtbag.
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Trader Curt said:
However, it also means that all the corruption within the government will be exposed, (If you don't think the government is 100% honest about everything)
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London being the money laundering capital of the world for Russian oligarch money being just one example.
Corrupt money fuels inflation.
 
Trader Curt said:
Well I am someone that makes an honest living, trading the RIGHT WAY. As far as I'm concerned that's enough to deserve more respect than someone that cheated for their money. And even then money isn't what makes someone respectful in the first place. Only a damn fool would worship someone because of the amount of money they have.

Nuff said
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I have to say that a guy who has been filing tax returns since he was 12 Y.O., and has a copy of every return since then, is probably not someone who skirts the rules.

Think about that concept for a moment...Filing his tax returns as a 12YO? Sheesh, when I was 12, 13, 14, I was more interested in being a kid and doing kid things. Having fun.

What the fuck tax burden does a 12YO even have?

Buffett is a freak.
 
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