JF: From Bloomberg - Why I Invested in Bitcoin...by Chamath PalihapitayaAnd that's all I have to say about that.
WCV: I don't buy it, and strangely I find myself using the same arguments people make against gold.
JF: Ha, that’s kind of why I thought it was interesting
WCV: The thing is gold, silver, platinum, etc. are a very limited number of precious metals.
But what's to stop 100 or 1000 or 1,000,000 computer programmers from creating new electronic currencies out of thin air?
In that respect, Bitcoins are a lot more like fiat currencies.
JF: Right I agree. The matrix reference I didn’t think helped his argument. He could have started the Op ed off my saying “hi my name is XXXXXXX, and I have so much F U money I have decided to give Bitcoin a ride”
Thoughts on Bitcoin
Exchange with JF:
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There are very few financial problems that can't be solved by a suitable application of asset bubbles.