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well bitcoin as a as a the computer science behind that's behind bitcoin is a great triumph for the human mind that's what captivates all these people they've actually created a product that's hard to create more of but not impossible now that is very peculiar but they've managed to do it so a lot of the computer computer science people love it just because it's such an extreme achievement of computer science i of course have no interest in in that because it's not my subject and i see an artificial speculative medium that people are buying just because they think they can sell to somebody else at a higher price even though it inherently has no intrinsic value and so i regard the whole business as anti-social stupid immoral immoral yes why is that why why would you trade suppose you could make a lot of money trading freshly harvested baby brains would you do it or would you say that's immoral you wouldn't trade them would you it's too too awful a concept well to me bitcoin is almost as bad it's not having any desirable social purpose we've got debit cards it isn't like we don't have a payment system we've got wechat in china incredibly efficient payment system china doesn't need bitcoin and if you have a wechat why would you do it in a medium where the value changes enormously nobody's right mind would want a payment system where the very thing you were using went up and down by 20 of the day now i regard the thing as a as a combination of dementia and immorality and i think the people that are pushing it are a disgrace last ought to be some things that are beneath you you just don't do and this is one we did not need a gold certificate i mean a gold substitute uh like this bitcoin is worthless artificial gold which if it succeeded would facilitate a lot of illicit activity now that is not something i think the world needs and the fact that it's clever computer science doesn't mean that it should be widely used and that respectable people should encourage other people to speculate in it bitcoin reminds me of oscar wilde's definition of fox hunting the pursuit of the uneatable by the unspeakable well it sounds better than what he used before we we asked earlier charlie uh andrew brought it up with warren but i think it's a scumball activity does that better serve you better thank you yeah we we asked earlier about goldman sachs getting into the business of having a trading desk for bitcoin berkshire hathaway owns about two and a half billion dollars of goldman sachs does it bother you or does it not surprise you just well i don't expect every investment bank to agree with everything i think there they have a lot of animal spirits in investment banking five years ago right here in these chairs on fox business you called it rat poison but that was when it was about a hundred and fifty dollars uh today it's nine thousand it had hit 19 000.
so it's more expensive rat poison but but there are some people who were able to make some money and and we heard from people who are very passionate about this and they said oh those guys are just trying to protect their uh old school investments in u.s dollars what do you say to that well i think these idiot booms do harm to a country they frequently come to bad ends and they cause economic consequences that are bad for the whole damn country and so i like it when my country steps hard on idiot booms instead of fanning the flames and if there's ever anything that needed stepping down on hard it's bitcoin
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