There is a confusion on the interpretation of Warren Buffet…
There is a confusion on the interpretation of Warren Buffett's opinion on bitcoin. He says it has no value because it doesn't generate anything, like a company and a farm do. He has a similar opinion on gold.
He links "value" to business generation. more>
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He adds that people buy it just because they expect to sell to to someone else for more (he said the same thing about gold). If you take his stance on "value" he has a point, he criticizes the "hodl" mentality.
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In the end, people willing to invest in the bitcoin economy will have to decide wether to invest their capital in the coin or in businesses trying to seize the new opportunities.
It seems to me that the coin works like an index of the whole bitcoin economy
What do you think? Does the coin work as an index for the bitcoin economy? If yes, would you invest in the coin or in specific bitcoin businesses? Or both?
(please see previous twetches)
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The coin is an expectation of the output of the future economy integrated across time. Businesses can be better than the coin when people people haven't been working very hard lately, but businesses can also fail more easily.