I can't understand Warren Buffett so he will fail! :)
Billionaire investor Warren Buffett told CNBC on Wednesday that Bitcoin and cryptocurrencies in general won't end well!
His exact words were:
"In terms of Cryptocurrencies generally I can say almost with certainty that they will come to a bad ending."
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Then when asked if he is planning to go short on Bitcoin he said:
"No, there is no reason. I get into enough trouble with things I think I know something about, why in the world should I take a long or short position of something I don't know anything about."
WHAT?!?!?
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Really?!?!? You can't be serious man!
How can you say that something will fail if you don't know anything about it?!?
Now, Warren Buffett is one of the most successful investors of all time and I fully respect his opinion (actually I respect everyone's opinion) but I have to admit that I can't understand him.
So I can say with almost certainty that he will fail in life! As an investor I mean! :)))
So my friends, what do you think about Warren Buffett and his prediction?
Full article and videos:
https://www.cnbc.com/2018/01/10/buffett-says-cyrptocurrencies-will-almost-certainly-end-badly.html
I concur with the billionaire - forget the hype and "coin rush" - the technology is not scalable - period. So the current rush is not going to end well, if the tech behind it can not scale. Waiting for half hour to few days for your transaction to confirm is not something that should go mainstream.
It has certain limited usage, which is the current basis for the hype. But bubbles always burst and this is certainly a bubble. All signs of it.
We all have different opinions, but I think differently that some cryptos will survive. Some of them are revolutionary and can help the world. Of course, some coins and tokens are scams, but saying that it's a big bubble is because u don't understand the tech. Good evening sir
😉