Why Warren Buffet is totally wrong?

[tokenwiki]

Warren Buffet says cryptocurrencies will almost certainly end badly?
Slight change.Some cryptocurrencies will end badly. Others will not. U need to pick the right ones.
 I  think Buffet has underestimated what has been created here. A good crypto programme is like a living thing. U send it into the computing world and it has a life of its own. U can hardly kill it anymore than u can wipe out a bacterium. Cryptocurrencies strike at the very base of what a currency is. It is more basic than say coins, fiat currency etc. It is a bit like the Rai stones used by Yap people in the Pacific, except that the whole thing is in a computer. There is no killing this. The values might change, new currencies will come and go, but cryptos are going to st. As people becomemore adept at comps as the younger generation in ever continent is , their use will only go up. If the market cap is 500 billion now, it will be 10 trillion in  a few years.

Until now, creating money was the power held by a few banks, now it is in the hands of every programmer. That is the change and I don't think bankers like it too much. But both Dimon and Buffet are wrong. The share price of JP Morgan Chase will come down to zero before bitcoin price becomes zero.

[Palma_Laura]

I think all dapp is usefull and this is reason of value on those token

[poptok1]

Until now, creating money was the power held by a few banks, now it is in the hands of every programmer.

I have to disagree with you on this one. Where in fact programmer is responsible for starting, creating any given crypto project, there it is not him that adds value to his creation. Actual monetary value is given by us, the users, people. We are the ones who decide whenever this programmer did a good job or not. Basically wallet voting takes place. Newly created crypto is being seen as useful and necessary, people mine it, buy it and that's how value is added. This is even better! The actual power of the people, objective and fair.
Rest is history and you are right, this Buffet character is probably to old to get it, he's 87 and to dependant of the current system.

[Realist247]

Warren Buffet is right far more often than he is wrong.

He has the three things that winning traders have that losing traders do not have:  1) experience   2) patience  3) confidence

and a bonus - connections

He probably understands Bitcoin far better than he admits since, contrary to those that sleep on dirt floors while pretending to be trading oracles claim, cryptocurrencies are not difficult for traders or people in finance to understand.

I'm all for cryptocurrencies as a means of exchange but I hate it as an investment.  The sooner it collapses in value and wipes out all of the idiot speculators the better.

Go speculate on commodities.  At least those are predictable.

[Pursuer]

Warren Buffet says cryptocurrencies will almost certainly end badly?

I don't think he used the words "almost certainly". he just said they will fail badly.
and I am willing to bet that Warren Buffet has been accumulating bitcoin for the past couple of years at the very least.

Slight change.Some cryptocurrencies will end badly. Others will not.

we have bitcoin and then we have altcoins aka pump and dump projects. you need to choose wisely.

[bug.lady]

Warren Buffet is right far more often than he is wrong.

He has the three things that winning traders have that losing traders do not have:  1) experience   2) patience  3) confidence

and a bonus - connections

He probably understands Bitcoin far better than he admits since, contrary to those that sleep on dirt floors while pretending to be trading oracles claim, cryptocurrencies are not difficult for traders or people in finance to understand.

I'm all for cryptocurrencies as a means of exchange but I hate it as an investment.  The sooner it collapses in value and wipes out all of the idiot speculators the better.

Go speculate on commodities.  At least those are predictable.

I agree with what you are saying, but two comments nevertheless:

The fact that Buffet (probably) well understands the world of crypto may not exclude the possibility that, whatever he is saying, is being said towards his goal and is not "just idle talking". There may be a second bottom to it.

And he has great experience when it comes to winnowing good and promising stocks from the bad ones. So maybe he can do it in crypto world, too?

[talkbitcoin]

throughout history nobody has ever said anything about anything if their personal benefits were not involved.
when some one as big as Warren Buffet is bothering to waste his precious time to say something about bitcoin publicly then you have to read past that and see what the benefit of him talking about bitcoin is. otherwise he is not going to warn people out of the kindness of his heart, if he did he wouldn't have been this rich now.