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[May Week 1] PEN TALK

Today’s topic

📌 Warren Buffett wouldn’t buy ‘all of the bitcoin in the world’ for $25

📌 Solana Suffered Seven-Hour Outage

📌 Elon Musk bought Twitter, what will happen?

Warren Buffett wouldn’t buy ‘all of the bitcoin in the world’ for $25

Image: Warren Buffett at the Berkshire Hathaway Shareholders’ Meeting

The world’s most famous Bitcoin critic has revealed that he will not accept an offer to buy all the world’s BTC for $25.

At the Berkshire Hathaway Annual Shareholders’ Meeting recently held, prominent American billionaire investor Warren Buffett argued that Bitcoin has many flaws and that cryptocurrencies have no value.

At the Berkshire Hathaway Annual Shareholders’ Meeting held on the 30th of last month, Warren Buffett expressed his opinion on cryptocurrency investments. Although the flow of cryptocurrency-related investments is spreading rapidly in the traditional financial market, Berkshire Hathaway still maintains a critical attitude.

President Warren Buffett said, “If you had all the bitcoins in the world and offered to sell me for $25, I would not accept the offer. “You can’t do anything with bitcoin.”

He also added explanations with specific examples. “Apartments produce rents and farms produce food, but bitcoin itself does not produce anything,” he explained. It is interpreted that cryptocurrency is still an immature and speculative asset and its purpose is unclear, so it cannot enter mainstream investment assets.

Image Credit: Bitcoin Magazine official Twitter

The reaction of the cryptocurrency community to this is also interesting.

Bitcoin Magazine, a specialized cryptocurrency media, introduced Warren Buffett’s critique of Bitcoin and posted a tweet saying, “Bitcoin doesn’t need Warren Buffett.”

When Bitcoin first appeared, the pros and cons were clearly divided. Among them, there are many people who have been criticizing every day and then suddenly changed their attitude and even bought Bitcoin, while Warren Buffett is holding on to his original critical stance on cryptocurrencies. Should we pay more attention to the investment guru Warren Buffett? Or will the moment come when he will one day find out that he is wrong?

Solana Suffered Seven-Hour Outage

Image Credit: Solana Official twitter

On the 30th of last month, Solana’s network was down for 7 hours.

Solana’s official Twitter account said, “Solana Mainnet Beta lost consensus after an enormous amount of inbound transactions (4m per second) flooded the network, surpassing 100gbps. Engineers are still investigating why the network was unable to recover.”

As a result of the investigation, it was revealed that the hackers had applied a swarm attack that sent 4 million transaction requests and 100 Gb of data per second to the Solana-based NFT issuance(minting) and distribution tool ‘Candy Machine’. Swarm is an attack that intentionally paralyzes the network by creating and sending large-scale transactions based on AI or machine learning.

When the Solana network, which adopted Proof of Stake (PoS), was attacked by a swarm, the validator node failed to validate the transaction in time, resulting in block creation failure and the Solana network being interrupted.

Solana and validator nodes were able to bring the network back to normal in 7 hours.

Previously, Solana was suspended for 17 hours in September last year as hundreds of thousands of transactions per second flowed in. According to its own status report, this was the 7th outage.

Will Solana be okay?

Elon Musk bought Twitter, what will happen?

Image Credit: Ticker News

Elon Musk’s acquisition of Twitter, which was noisy and controversial, has come true.

Starting with becoming the largest shareholder of Twitter, he began to pour out ideas that touched the hearts of Twitters, such as introducing the Edit button on Twitter and starting Doji Coin payments. These things seemed to become reality with Musk’s joining the Twitter board. However, as he suddenly withdrew his joining the board of directors, the main reaction was, “Elon is playing with us again”

But mocking these reactions, he soon announced a proposal to take over all of Twitter’s shares. The Twitter board, which initially tried to defend itself, eventually accepted the proposal.

Image Credit: Elon Musk’s twitter

In closing the Twitter acquisition, he tweeted about freedom of expression.

As a result, many people are looking forward to the next phase of Twitter.

In the cryptocurrency market, Twitter along with Telegram is playing a major social media role. Expectations are growing that Musk’s acquisition will further increase Twitter’s influence on freedom of expression.

I’m looking forward to the new twitter :)

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