Re: Newhaven is the Pits
You're on thin ice there, my friend! Peacehaven is hardly a contender for most attractive town in the UK.
312 posts • joined 27 Apr 2011
I've said this before, but as far as I can see, bitcoin is only a tool used by criminals and hackers. It has no real-world application. Not really. Not when you think about it.
With all due respect, that statement says more about your lack of vision and, dare I say it, ignorance of the technology, than it says about crypto-currencies.
I think the old "tulip" trope is getting a bit, er, old. Bitcoin et al. are becoming more and more assimilated into the mainstream banking system in particular and into 21st century culture in general. Ignore and mock all you want but I suspect you will turn out to be on the wrong side of history.
In fact Munger went even further, even more bat-shit crazy in his hate for Bitcoin:
“Suppose you could make a lot of money trading freshly harvested baby brains. Would you do it?” Munger asked.
“To me bitcoin is almost as bad.”
The more the likes of Buffet and Munger display this kind of weird, pathological hatred of crypto, the more I think it may be the future.
Let's face it, after "Enter the Wu-Tang (36 chambers)", which is pure genius and immortal, the Wu-Tang Clan's output has been progressively more shit. That's why they flogged OUATIS to a div with more money than taste. Fair play to them and more fool him.
BTW, did you know "The Clan" recently sued a dog-walking outfit called "Woof-Tang Clan" for breach of copyright? I shit you not.
I agree and I'm quite pessimistic when it comes to Tesla's future. The financials are dire - the company is burning around $16 million dollars PER DAY! And the 2025 Tesla Bond price is falling off a cliff - which has repercussions in terms of debt repayment. Not to mention the imminent curtailing of the $7,500 tax credit for buyers. Even if the tax credit is not killed off by the politicians (which The House of Representatives wants to do), it automatically starts to phase out once manufacturers sell 200,000 vehicles.
"You just have to concede this type of argument if you're up against someone named Dr Syntax."
I suspect the name refers to this Doctor Syntax, a comic character created by William Coombe and cartoonist Thomas Rowlandson in the early 19th Century.
And yes, I know I should get out more.
Couldn't agree more. I just paid a GBP 9 transaction fee - it took a while before I realised this was not a mistake.
The energy cost of modifying the bitcoin blockchain is in itself a (not unrelated) concern.
The fact that there are alternative (already existing or potential) crypto currencies which may be less expensive to use, amongst other advantages, is the reason why I think BTC is not going to keep going up in value.
And then run a series of ads using kids' TV characters to promote the "Halifax Savers Prize Draw Superdraw". Remember when personal finance was something to be taken seriously?
Then again, given the casino mentality of bankers these days (not to mention tax-payer funded bailouts when their bets fail) - it seems somehow appropriate that they should market themselves not with a sober review of their strengths but with a game of chance.
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