Warren Buffett disses bitcoin, but bitcoin strikes back!
Last week at his annual shareholder meeting, Warren Buffett went out of his way to say what he thought of bitcoin.
Yesterday, bitcoin struck back!
In case you missed it, Warren Buffett decided to give his thoughts on bitcoin at his annual shareholder meeting early last week.
He used terms like:
"rat poison squared"
and
"bitcoin will come to a bad ending"
to describe what has been going on with bitcoin.
(Source: https://www.cnbc.com/2018/05/05/warren-buffett-says-bitcoin-is-probably-rat-poison-squared.html)
As you might imagine, the bitcoin community didn't take such strong remarks sitting down.
Genesis Mining's bitcoin awareness campaign put up some billboards right across from Buffett's office to strike back at what Mr. Buffett had to say.
They can be seen here:
(Source: https://www.ccn.com/bitcoin-mining-firm-trolls-warren-buffett-with-billboards-outside-his-office/)
The theme behind the billboards was that Buffett has been wrong before about new technology, specifically in the case of Amazon and Google, and that perhaps he is also wrong about bitcoin now.
Genesis Mining launched a bitcoin awareness campaign several years back to help spread awareness and information about bitcoin and cryptocurrencies.
This was a sign put up in 2015 by Genesis Mining:
(Source: https://www.ccn.com/genesis-mining-launches-nationwide-bitcoin-advocacy-campaign/)
Their goal is to educate the public about bitcoin and cryptocurrencies. Specifically, they tend to try and dispel some of the negative spin the mainstream media tends to put on crypto.
Buffett hasn't officially responded to the billboards as of yet, but you can be sure he has seen them.
How could he not, they surround his office building.
Not sure about you, but I think this is a great use of advertising funds. :)
Stay informed my friends.
Follow me: @jrcornel
Buffet, and the rest of these billionaires, have developed enormous God complexes that have completely blinded them from the monumental changes taking place.
Buffet and Dimon better get used to being trolled - soon it will be a daily occurrence.
False advertisement by some of the activist part of the Bitcoin community:
They lie knowingly.
Bitcoin is space and (energy/time, choose your compromise between these two) inefficient.
It will fail, and when it will happen, it will be later than it should have been.
I also saw a picture of Buffett doing the baphamet sign, and if it is not photoshopped, it should be the only picture people should use when they show any picture of him.
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Well, Buffet should be praised after all he has been the second richest guy in the World for many years.
That being said when you hear these guys talk in the interview with Munger you realize they are just ignorant and uneducated of the benefits and possibilities of Crypto and Bitcoin.
I mean my gosh I remember 20 years ago Buffet was talking about how he would NEVER invest in tech stocks because he could NOT understand them and how they worked.
My response back then ?? Well MR. Buffet why don't you take the time like everyone else to learn about them.
Seems like the same thing with Bitcoin and his refusal to dig a little deeper and learn a little more. I bet he could not even give a simplistic definition of what a Blockchain is lol
Thanks for sharing this Post @jrcornel
Thanks for you sir
He was also not true with google and apple .. :-)
The Oracle from Omaha doesn’t know shit about emerging Tech. He has proven that over and over again. Rage on BTC & Rage on STEEM! 🧐
Talking to Buffet via (antique last century artifacts) billboards is a nice move. 😂
don`t listen old people telling you something about new tehnology
Yes Buffett has been wrong before on technology stocks. He has a very big ego and says bitcoin is "rat poison" and to "stay away from it." He never says why Bitcoin is bad, he doesn't understand it and can't explain it. He's moronic. Buffett is acting in authority outside of his lane. He needs to stick to blue chip dividend stocks, and not paradigm shifting technologies.
Forget the dinosaur, meet the robot!
He is totally wrong about Bitcoin, but I think he knows it. He missed the boat, and now he's trying to fight back because Bitcoin threatens his power and influence.