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By the way, tell us again how in your view Warren Buffett is stupid and ill-informed.
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By the way, tell us again how in your view Warren Buffett is stupid and ill-informed.
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I'm a big Warren Buffet fan (at least as far as his evolved value-investing approach goes). I've read his annual reports, several bios, watched many of his interviews, etc.
In my "normal" investing (ie, outside the BTC world), I tend to do mostly value investing, except where I have specific domain expertise that I feel gives me an edge.
Like Bitcoin for example. It has been unfortunate that Warren has chosen to comment in a domain in which he has no expertise, being famously and self-admittedly tech-inept, yet he has done so nonetheless, obviously. And, quite frankly, from the tech-illiterate perspective, Bitcoin can be difficult to understand.
Furthermore, Bitcoin is a play on growth, not on unlocking existing value, and is therefore antithetical to Buffet's core investing competencies even without the tech-literacy requirement. So no surprise that he doesn't see it, and hard to give any weight to his opinion in this area, brilliant though he is.
While bitcoin the technology could be difficult to understand to laymen, then bitcoin the currency isn't hard to understand to most.
The majority of coins are held by unknown people, who in all probability, are criminals or amoral people of different kind. Like hackers, con-artists, drug dealers, insider trading exchange owners etc.
Buffets opinion was about the currency, not the technology. And investing in the technology would mean to invest into companies that use the technology for more practical purposes then the current "bitcoin the currency".