Alexander Lorenzo hosts a debate where three speakers argue about cryptocurrency. Speaker A defends crypto as faster and more secure than traditional systems, while Speaker B remains skeptical and uninvested. The discussion counters Bill Gates' criticism of blockchain technology.
Bill Gates was completely wrong about this, and I'm going to prove it.
I'm used to asset classes where, like a farm where they have output, or a company where they make products. To have an asset class that's 100% based on sort of Greater Fool theory that somebody's going to pay more for it than I do, and where it has at its heart sort of this anonymity that, you know, you avoid taxation or any sort of You know, government rules about.
So it happens to be integrated fully into the government. The actual stock market is using blockchain themselves. The utility is that it's significantly faster, more secure, more unifying, more decentralized. Pretty much from every property of money in current existence, cryptocurrency is significantly better. So by the same logic of saying that A cow has real utility because it produces food. Crypto and blockchain have real utility because it's a significantly better vehicle than anything in the traditional world. Even one of the richest, smartest people in the world gets this wrong. The government, the stock market, pretty much every financial institution is completely integrating crypto right now as we speak. Because it's definitely better than the previous software. It's an upgrade to software. NFTs or things.
Anyway, I'm not involved in that. I'm not long or short any of those things.
And there you have Bill Gates, of course, TechCrunch, the sister publication of Yahoo Finance. And good, good for Bill Gates for keeping it real right now. He's been, I would say, not a big believer in crypto and looks to be paying off. It's not paying off. It's definitely not paying off.
