in which you're relying on the next "crazy" person buying it to pay you more than you paid for the volatile assetsomething he argued is a bad gamble. "Well, I like cryptocurrencies a lot less than you do he cracked. Its kind of a pure greater fool theory type of investment, Gates specifically said about Bitcoin. "To me, it's just dementia." "I think that people who are professional traders that go into trading cryptocurrencies, it's just disgusting. Born and raised in the beautiful island of Sri Lanka and have run businesses ranging from Agriculture to the Digital World. He elaborated that he was gifted some bitcoin for his birthday, but sold it a couple of years later. "Bitcoin and ICOs, I believe completely they're some of the crazier, speculative things.". Bitcoin, by access_time chat_bubble_outline, we would all think Bill Gates, the founder of the most popular operating system in the world Microsoft Windows would be up to date with technology.
Post continues below, blockchain, of course, is tech that provides a secure two-way connection allowing for transactions to be completed without the need of a bank. The term is used to describe an asset that is resembling a game of hot potato. Alluding to the artificial scarcity of cryptocurrencies, he said, "You can only mine so many bitcoin, but so what?" He posited the rhetorical question of what cryptocurrency actually produces. "You make a conclusion based on what the asset itself will produce over time and that's an investment Buffet dispensed. Its kind of a pure greater fool theory type of investment.
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The Microsoft co-founder and billionaire philanthropist explained that his rejection achat bitcoin maroc of these new cryptocurrencies is rooted in the lack of tangible worth. He fears that it is too risky for long-term commitments either as a client or institution. "The asset itself is creating nothing said Buffett, comparing bitcoin to "productive" assets such as gold or a farm. Bill Gates opinion closely resembles that of his colleagues on the companys board, Warren Buffet and Charles Munger. "It's one of the crazier speculative things, where as an asset class, you're not producing anything, so you shouldn't expect it to. the Microsoft titan added, "I would short it if there was an easy way to.". "Bitcoin is worthless artificial gold, which, if it succeeded, would sow a lot of illicit activity. Currently living in the Digital Hub of India, Pune and an extremely friendly and optimistic person. Despite these many warnings about bitcoin and cryptocurrencies, it could be worth keeping an eye out for productive blockchain-based assets. That is a good thing he said. On Monday, Munger renewed his attack. Cnbc, Bill Gates is so averse to bitcoin and other cryptocurrencies that his only involvement with it resulted from a birthday presentwhich he sold a few years later.