Author Topic: Chinese Crypto Pioneer Pays $4.57 Million for Lunch With Warren Buffett  (Read 4186 times)

John Hjorth

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I donít 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. Itís 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.
ĒIn the race of excellence Ö there is no finish line.Ē
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longinvestor

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I donít 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. Itís 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.

Itís 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? Itíll probably be rat poison still. $4M down the drain. You got to pick the right medium to market your product.

John Hjorth

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I donít 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. Itís 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.

Itís 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? Itíll 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.
ĒIn the race of excellence Ö there is no finish line.Ē
-HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai

longinvestor

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  • Never interrupt compounding unnecessarily -Munger
I donít 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. Itís 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.

Itís 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? Itíll 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.

hillfronter83

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I donít 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. Itís 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.

Itís 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? Itíll 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.

SharperDingaan

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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". "

Just to add context around this ...

'Permissionless' can be achieved TWO ways. (1) Via distributed ledger, and transaction level third party 'miner verification' (internet); or (2) within a 'permissioned' private network (intranet). Private network (intranet) solutions are much faster, more efficient, more scaleable, and less power hungry. Blockchain will run on either a distributed ledger or a private network, and just allows us to reliably automate the transactional consequence.

Expand a 'permissioned' private network (intranet), to include an entire country's ciitizenry, central bank, and social/commercial entities; and you have the basis for a nationwide permissionless payment/digital record distribution system. Digital versus paper currency, AND almost any kind of digital record. Existing examples of which are eKrone, R3 Consortium securities settlement, and government intranet digi-record exchange (digital hospitals).

Expand a 'permissioned' private network (intranet), to include a globe's on-line shopping transactors, and you have the basis for an entirely unregulated global permissionless payment/digital record distribution system. Facebooks Libra coin as currency, and its AI use of our digital footprints every time we do something. ApplePay, GooglePay, etc are similar examples.

So when this pioneer is having lunch with yoda .....
It's probably going to be an entirely different kind of conversation. Yoda's too old .... but his friends will more than 'get it'.

SD
   


sleepydragon

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I donít 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. Itís 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.

Itís 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? Itíll 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.

Yeah, this is what I heard too.
As usual in China, there is lawyer or court involved. He is not allowed to leave now.
Could be fraud or could be Chinese govt is not happy he wired out a few million USD out of the country when nobody was not supposed to be able to do it. The Chinese government is behaving more and more like north korea nowadays

OracleofCarolina

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Itís a weird story..he was on twitter today and he is in San Francisco . He said he was feeling better when asked about the kidney stones but looked fine.

gfp

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« Last Edit: July 25, 2019, 05:10:08 AM by gfp »

John Hjorth

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Thank you for sharing, gfp,

I have to agree OracleofCarolina here - it's so weird. Well, now we at least got a tiny dose of Chinese culture & politics out of it.
ĒIn the race of excellence Ö there is no finish line.Ē
-HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai