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RE: Warren Buffett Not the Dumbest Person on Wall Street
I have always have admired this guy for his wise investments.
I respect his decision for not investing in Bitcoin since he has a very limited understanding of what is actually is.
on the same note, I do not agree with him that it will end badly. If he doesn't understand it, he should not judge it.
If he just kept it at "No comment, since I don't understand it", people would keep badgering him. Journalists want to be able to say "look what Buffet said about crypto" and make some nice clickbait titles. I do agree with you that you shouldn't judge something you don't know about but I don't think he had a choice.
Well yes and no. Firstly yes he has enough experience to say that based on his understanding, etc. Who are we to judge him for his own opinion?
On the other hand, I see your point that he could make lots of money already, however since there is no tangible thing behind BTC, he shares his thought with a wider audience.
I belive that since the creyptocurrencies (technology behind) can reshape the ecconomy; it could also remove the tangibiity out of necessity to build any ecconomic system e.g. steem? :)
https://steemit.com/news/@alandcosta/bank-indonesia-bi-melarang-jual-beli-bitcoin-873acf2a1319f
Agree