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The context of the quote: > I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth... So, I think I should say modestly that the whole damn development is disgusting and contrary to the interest of civilization. I find it strange to criticize an asset for how it gets used in extremis. I feel like the same criticism could be levied against the dollar.
"And I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth" You mean like cash? I'm sorry, I'm sure Warren is a nice guy but that picture reminds me of the Dukes in the movie Trading Places [1] with Eddie Murphy and Dan Aykroyd. [1] https://en.wikipedia.org/wiki/Trading_Places
He probably does. In Sweden, everything is going cashless in the name of convenience and cracking down on tax avoidance.
Earlier quoted context omitted.
Except the primary use of the dollar is good. The same can't be said about the primary use for Bitcoin (which is, at best, speculation).
Have you traveled? Enough places where the dollar is not the national currency but still accepted and used for purchasing drug and weapons.
That is still a significant minority compared to USD as a whole. BTC as a whole is used for just that and gambling.
"And I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth" You mean like cash? I'm sorry, I'm sure Warren is a nice guy but that picture reminds me of the Dukes in the movie Trading Places [1] with Eddie Murphy and Dan Aykroyd. [1] https://en.wikipedia.org/wiki/Trading_Places
Lol. So the relatively few mega-wealthy — who hoarded practically all the USD in the world — are angry that the relatively-poor have come up with a new system of value within which they are now relatively-rich? Well maybe the wealthy class should have left some for the rest of the people. Maybe the wealthy shouldn’t have fleeced every market they cornered as aggressively. Maybe they should not have constantly avoided…
"And I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth" You mean like cash? I'm sorry, I'm sure Warren is a nice guy but that picture reminds me of the Dukes in the movie Trading Places [1] with Eddie Murphy and Dan Aykroyd. [1] https://en.wikipedia.org/wiki/Trading_Places
When was the last time you tried to move a million in cash? It's not that easy...
Working together is in the best interest of humans. Humans require trust to operate. A system designed around mistrust is inherently against our nature.
Designed around mistrust? Surely you mean motivated by distrust in the financial system? You know, the same financial system that launders cartel money, rigs interest markets against the poor, and crashes housing markets to make pensioners go broke?
I'm not a fan of Bitcoin, but often "contrary to the interest of civilization" means "contrary to the interest of me".
Yes, and yes. But, if Berkshire wanted to they could pump BTC to new heights and undoubtedly make a profit.
The context of the quote: > I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth... So, I think I should say modestly that the whole damn development is disgusting and contrary to the interest of civilization. I find it strange to criticize an asset for how it gets used in extremis. I feel like the same criticism could be levied against the dollar.
For any thing that has both positive uses and negative uses, it seems reasonable to weigh the positives against the negatives. The dollar has substantial non-infringing uses that benefit people. Bitcoin less so, and particularly when weighed against the great harms (environmental or criminal) that Bitcoin brings, I don’t find the criticism baseless.