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Author Topic: Buffett validates the Bitcoin Concept...  (Read 839 times)
cypherdoc
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May 09, 2013, 03:03:25 PM
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...not directly, but indirectly.

listen carefully to what he says.  i'm paraphrasing:

1.  banks tend to get overleveraged and need to be bailed out.
2.  we are suspicious derivatives represent a hidden form of leverage.
3.  savers and fixed income investors had to be sacrificed.
4.  high frequency trading is a legalized form of front running.
5.  he and Charlie agree that banks need to have limits that don't exist today.
6.  Bernanke has his foot on the gas pedal and purposely has dropped interest rates to almost nothing.

it is my contention that these facts alone, from the greatest investor of all time, validate everything we're doing here and can only mean one thing:

Bitcoin will succeed.

http://www.cnbc.com/id/100708111
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