RE: Are You Committing This Crypto Investing Sin?

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Are You Committing This Crypto Investing Sin?

in bitcoin •  7 years ago 

I like your honest and contrarian views but I have to take issue with one thing. In your defence of Warren Buffet your misrepresented what he said, which was that cryptocurrencies would come to a 'bad ending'. He didn't say they would have a dip, or even a major correction, and then rise again. My understanding of the word 'ending' is that it means... The End. No more. Finished.

I personally think you are right that certain cryptos with no working products are way overvalued. Others are pure ponzi schemes. There will be a huge shake-out sooner or later, but crypto is here to stay and, in my opinion, the genie is out of the bottle. Therefore I'm afraid Warren Buffet is a dinosaur and he is talking way out of his area of competence. All he sees is a tulip bubble and he can't accept that cryptos have any value at all. I think you were too kind to him.

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If you listen on, you'll hear me say that I disagree with the notion that it will be a permanent bad ending.