What gives something value? If I work for a gaming developer and I create a custom gaming item/skin for say Counter strike
items and I offer that for sale..... Does the virtual item exist? People are buying these custom made skins for thousands of
Dollars.... so why not something like Bitcoin that are also virtual?
https://motherboard.vice.com/en_us/article/wnj935/heres-how-you-make-12000-in-profit-a-day-selling-virtual-guns
His logic makes no sense, once you analyse the way that technology is changing the way people spend their money and what
money or commodities are in the virtual world.
Topic: [2017-11-06] Why Buffett Sees Bitcoin Bubble (Read 1515 times)
He tried investing in gold or silver years ago and they shut him down so he has to do the fake double speek and support the fake fiat money and fake fiat paper. Imagine if he said buy bitcoin he would have his freedom loving regulator knock on his door. I don't think he has freedom he says what regulators tell him to. He is not a free man.
If something is "virtual," does it really exist? This question has haunted us since the beginning of our journey as Homo Sapiens. When it comes to Bitcoin and other cryptocurrencies, this is an important question. You can buy and sell stocks, bonds, paper currencies and commodities like corn and wheat. They exist in the real world. You can physically deliver them, although they mostly are represented in electronic form.
Which brings us to Warren Buffett, one of the greatest investors ever, who recently noted: “You can’t value bitcoin because it’s not a value-producing asset...it's a real bubble in that sort of thing.”
For those of you devoted to decoding Buffett's every pronouncement, his meaning is clear: Cryptocurrencies are not tangible investments. They don't generate earnings or pay dividends. How do you really value them if they have no intrinsic or "book" value? And people who buy bitcoin are simply betting that the price will go up.
Continue reading on this link...
Do you think the idea that since Bitcoin is really virtual...then it has no "intrinsic" value and therefore can possibly just be a big bubble?
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