An open letter to Warren Buffet - you are rat posion squared!!

Sadly, one of crypto currencies biggest enemies is one of the worlds most successful investors - Warren Buffet. Every time that Bitcoin makes a step in the right direction on its road to recovery, this man is there trying his best prevent it and deter its success. Though most of his comments are not based on sound logic and for the most part are just hateful rhetoric, many people will buy into his comments because he has had so much success in the past.

But that was then and this is now. Things evolve and markets change. Here is a man that has stood still in the face of change. From what I have read, Warren Buffet doesn't even use a computer to conduct business - most likely because he doesn't know how to use one. So are these comments referring to Bitcoin as rat posing squared, actually something we should be paying heed to, or are these simply the ramblings of a senile old man that is slowly being left in the dust?

The old capital markets of yesterday are slowly becoming outdated. More and more conventional financial institutions are getting on board with the idea of opening crypto exchanges of their own, hopefully in turn giving way to the concept of a stock exchange 2.0; one where underwriting costs are non existent and financial dinosaurs like you and George Soros will be left scratching their head, wondering how they are going to make their next billion dollars.

Only a monster would readily stand in the way of change. Only an uneducated dolt would hinder a market that could not only improve things for our generation, but also generations to come. Most people from your generation got rich in one of two ways : either exploiting mother-nature or exploiting the weak and vulnerable.

You could try to remedy some of your past action by facilitating all these initiatives where you are giving away large portions of your wealth, but in retrospect, unless you are spearheading these causes, most of the funds from these campaigns will just end up in the hands of the elite, paying the people who run these charities their $5,000,000 a year salary, for a job that should be being done for free in the first place.

Evidently, its easy to point fingers, it is even easier to lay blame on something you know nothing about. Nevertheless, just because you have operated in such a manner, just because you have been successful at something, doesn't make it right or value added. Stock exchanges and capital markets have been around for over 500 years . At a point, shortly after their inception, they operated on a peer to peer basis. People would trade securities and other financial instruments amongst themselves, without the use of underwriters, bankers or intermediaries and this is all crypto is trying to achieve. True decentralization, true peer to peer transactions in a safe and secure manner.

You do not need to support freed loading, to support an efficient capital market. The old boys club of yesterday is no more and the idea of getting a pay check for providing a worthless service, is slowly becoming a thing of the past. If I were you, I would suggest that your cash out now and go buy a shrimp boat or something. That is about the only place where you will be finding this archaic type of hierarchy moving forward.