Quote Originally Posted by John2 View Post
No, I suspect it is you who agrees with him since you've almost verbatim parroted what he said about the value of a car. Good on you and him for trying though, in that you have attempted to acknowledge some potential even though you clearly don't really understand it. That's genuinely not intended to be partonising btw, I completely understand why someone like Warren Buffet is completely opposed and will never understand it because of his era, doesn't make him any less of a great investor of his time. This 384% gain you made, at what price did you sell? You're wecome by the way.
Skin in the game or not, when you step back and think about what Smith is saying, he is right, insn't he?

As a currency - a medium of exchange - ******* is not currently viable. No sensible person or business could rely upon it to undertake day to day transactions because it is way too volatile (as you point out).

Whether it eventually evolves into a useable currency remains to be seen, but let's not pretend that ******* is one at the moment. It's a speculative investment - a flutter- the equivalent of putting a few quid on the 2:30 at Kempton. That's cool provided that people only invest/ gamble what they can afford to lose and are willing to accept the risk.

I currently hold ******* and am enjoying the ride, but I'm not going to pretend that my involvement is anything other than that.