"In truth, the best bitcoin can hope for is to be a second-rate version of gold, if that. And Warren Buffett once described gold this way: “Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.”Render Unto Caesar, but Who Backs the Bitcoin? - NYTimes.com
That’s pretty much the way a Martian might think about bitcoin."
Tuesday, November 26, 2013
Render Unto Caesar, but Who Backs the Bitcoin? - NYTimes.com
So it's like gold, but without all that messy digging...