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Chinese Crypto Pioneer Pays $4.57 Million for Lunch With Warren Buffett


LounginMKL
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I agree Jurgis. I'm inclined to think it will be an interesting lunch for WEB.

 

I severely doubt that. Having to sit down with a bunch of overconfident youngsters using the lunch as a promotion to market their sham coins that he probably views as a net negative to society. "I'll have a small coffee and a donut, please".

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Right keep grinding those hours away for that +5% annual alpha while missing out on the largest paradigm shift in global finance  ;)

 

I bet Berkshire will acquire a position in Bitcoin and everyone here will lose their minds as to why.

 

I will sell my shares the moment they do that.

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I would think Buffett, like any semi intelligent or better, successful entrepreneur, would approach this as a unique opportunity to exchange thoughts with an individual who has done admirably well using a non conventional approach; one different than his own, and as such, this is perhaps an opportunity to learn something.

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Right keep grinding those hours away for that +5% annual alpha while missing out on the largest paradigm shift in global finance  ;)

 

I bet Berkshire will acquire a position in Bitcoin and everyone here will lose their minds as to why.

 

I will sell my shares the moment they do that.

 

Happy to do so - at least until someone changes my mind.  ;)

 

I'm open btw to the idea that this technology could lead to something useful, but I don't see why that makes Bitcoin a good investment.  Maybe you can enlighten me and the other skeptics around here.

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Right keep grinding those hours away for that +5% annual alpha while missing out on the largest paradigm shift in global finance  ;)

 

I bet Berkshire will acquire a position in Bitcoin and everyone here will lose their minds as to why.

 

I will sell my shares the moment they do that.

 

Happy to do so - at least until someone changes my mind.  ;)

 

I'm open btw to the idea that this technology could lead to something useful, but I don't see why that makes Bitcoin a good investment.  Maybe you can enlighten me and the other skeptics around here.

 

I agree, the fact that people use blockchain and Bitcoin interchangably makes me doubt that it will work out well for most people speculating in this.  It's like saying "what do you mean "Toys.com" won't make me rich? The internet will change everything."  I'm sure blockchain will be used in a lot of new and interesting ways , but that doesn't mean that Bitcoin or any other particular crypto asset will be a big winner. And just because some of them will be big, doesn't mean that I'll be able to pick the right one when lots of computer and math whizzes are trying to pick the winners too and they understand it better than me.

 

If you can make money this way, mazel tov!  You deserve it.

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I agree, the fact that people use blockchain and Bitcoin interchangably makes me doubt that it will work out well for most people speculating in this.  It's like saying "what do you mean "Toys.com" won't make me rich? The internet will change everything." 

 

Yes, that's exactly how I feel about this.  Although, my sense is that Fat Pitch knows more about this area than the modal speculator, which is why I asked.

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A blockchain is nothing more than a database configuration. The secret sauce is that this database is permissionless and anyone can enter and leave the network. What everyone on the outside don't understand is that in order for this network not to be sybilled/DDOS/attacked into oblivion it must be "secure" and you only achieve that by having "value".

 

So when you hear someone mention blockchain and not Bitcoin or "private" blockchains... you can immediately discard them as idiots.

 

 

Right keep grinding those hours away for that +5% annual alpha while missing out on the largest paradigm shift in global finance  ;)

 

I bet Berkshire will acquire a position in Bitcoin and everyone here will lose their minds as to why.

 

I will sell my shares the moment they do that.

 

Happy to do so - at least until someone changes my mind.  ;)

 

I'm open btw to the idea that this technology could lead to something useful, but I don't see why that makes Bitcoin a good investment.  Maybe you can enlighten me and the other skeptics around here.

 

I agree, the fact that people use blockchain and Bitcoin interchangably makes me doubt that it will work out well for most people speculating in this.  It's like saying "what do you mean "Toys.com" won't make me rich? The internet will change everything."  I'm sure blockchain will be used in a lot of new and interesting ways , but that doesn't mean that Bitcoin or any other particular crypto asset will be a big winner. And just because some of them will be big, doesn't mean that I'll be able to pick the right one when lots of computer and math whizzes are trying to pick the winners too and they understand it better than me.

 

If you can make money this way, mazel tov!  You deserve it.

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The folks who cannot get the names right are not the ones implementing block chain; they just wished they understood it :D

Like it or not, Bitcoin and Bitcoin protocol is here to stay, but its value really depends upon both your purpose and where you live.

Central Bank Digital Currency (CBDC) is a much more practical payment system, and already exists (eKrone).

 

It'll probably be a very interesting conversation, not that dissimilar to what it might have been like talking to a Steve Jobs at the dawn of Apple.

Back when people thought a 'mouse' was a rodent!

 

SD

 

 

 

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Guest longinvestor

I don’t understand the first thing about Bitcoin etc. but the innuendo suggests that it is somewhat like funny money, perhaps with people getting hurt? If so, Buffett has been doing this charity lunch in memory of his late wife Susie who championed helping people. Especially through the Glide foundation. It’s easy to see this collection as a slap in the face of that? Yes the bidding was anonymous but that may be the conundrum here. Online bidding and online currency.

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  • 1 month later...

I don’t understand the first thing about Bitcoin etc. but the innuendo suggests that it is somewhat like funny money, perhaps with people getting hurt? If so, Buffett has been doing this charity lunch in memory of his late wife Susie who championed helping people. Especially through the Glide foundation. It’s easy to see this collection as a slap in the face of that? Yes the bidding was anonymous but that may be the conundrum here. Online bidding and online currency.

 

This makes a lot of sense - at least me, personally, longinvestor.

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Guest longinvestor

I don’t understand the first thing about Bitcoin etc. but the innuendo suggests that it is somewhat like funny money, perhaps with people getting hurt? If so, Buffett has been doing this charity lunch in memory of his late wife Susie who championed helping people. Especially through the Glide foundation. It’s easy to see this collection as a slap in the face of that? Yes the bidding was anonymous but that may be the conundrum here. Online bidding and online currency.

 

This makes a lot of sense - at least me, personally, longinvestor.

 

It’s also possible that the guy paying millions figured out that he has exactly zero chance of convincing Buffett and thereby winning some credence for bitcoin. What if someone asks (again) Buffett or Munger about this topic the day after lunch? It’ll probably be rat poison still. $4M down the drain. You got to pick the right medium to market your product.

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I don’t understand the first thing about Bitcoin etc. but the innuendo suggests that it is somewhat like funny money, perhaps with people getting hurt? If so, Buffett has been doing this charity lunch in memory of his late wife Susie who championed helping people. Especially through the Glide foundation. It’s easy to see this collection as a slap in the face of that? Yes the bidding was anonymous but that may be the conundrum here. Online bidding and online currency.

 

This makes a lot of sense - at least me, personally, longinvestor.

 

It’s also possible that the guy paying millions figured out that he has exactly zero chance of convincing Buffett and thereby winning some credence for bitcoin. What if someone asks (again) Buffett or Munger about this topic the day after lunch? It’ll probably be rat poison still. $4M down the drain. You got to pick the right medium to market your product.

 

Please feel free to mentally bent it the way you want, longinvestor,

 

I personally still think that this dinner/charitable activity was never from Mr. Buffet's side meant to become a "clash between "religions"". Oh-well - here we are.

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Guest longinvestor

I don’t understand the first thing about Bitcoin etc. but the innuendo suggests that it is somewhat like funny money, perhaps with people getting hurt? If so, Buffett has been doing this charity lunch in memory of his late wife Susie who championed helping people. Especially through the Glide foundation. It’s easy to see this collection as a slap in the face of that? Yes the bidding was anonymous but that may be the conundrum here. Online bidding and online currency.

 

This makes a lot of sense - at least me, personally, longinvestor.

 

It’s also possible that the guy paying millions figured out that he has exactly zero chance of convincing Buffett and thereby winning some credence for bitcoin. What if someone asks (again) Buffett or Munger about this topic the day after lunch? It’ll probably be rat poison still. $4M down the drain. You got to pick the right medium to market your product.

 

Please feel free to mentally bent it the way you want, longinvestor,

 

I personally still think that this dinner/charitable activity was never from Mr. Buffet's side meant to become a "clash between "religions"". Oh-well - here we are.

 

Well, the newly minted fact is that Sun is the one postponing.

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I don’t understand the first thing about Bitcoin etc. but the innuendo suggests that it is somewhat like funny money, perhaps with people getting hurt? If so, Buffett has been doing this charity lunch in memory of his late wife Susie who championed helping people. Especially through the Glide foundation. It’s easy to see this collection as a slap in the face of that? Yes the bidding was anonymous but that may be the conundrum here. Online bidding and online currency.

 

This makes a lot of sense - at least me, personally, longinvestor.

 

It’s also possible that the guy paying millions figured out that he has exactly zero chance of convincing Buffett and thereby winning some credence for bitcoin. What if someone asks (again) Buffett or Munger about this topic the day after lunch? It’ll probably be rat poison still. $4M down the drain. You got to pick the right medium to market your product.

 

Please feel free to mentally bent it the way you want, longinvestor,

 

I personally still think that this dinner/charitable activity was never from Mr. Buffet's side meant to become a "clash between "religions"". Oh-well - here we are.

 

Well, the newly minted fact is that Sun is the one postponing.

 

Sun is under investigation for fraud and not allowed to leave China.

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