There is no shortage of people slamming cryptocurrencies and bitcoin in particular.
Warren Buffett and Charlie Munger are just two on a long list to feel that bitcoin amounts to nothing. Scam, fraud, and rat-poison are two words to describe it.
Yet, the march continues. Bitcoin's return since 2010 is simply astounding. Even the return since 2013 when famed economist Paul Krugman panned Bitcoin is enough to make most investors drool.
Click on image to read full article of why the Old Guard hates Bitcoin.
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Because they cannot control it.
wrong... they can control everything on the planet including your internet which bitcoin rely on - besides bitcoin was only allowed to exist to get you used to blockchain technology because the ledger system blockchain is the ultimate surveillance tool...
the elite class have won for eons and to think a minuscule economic system like bitcoin is a threat to them is almost laughable
Bitcoin doesnt need the Internet to run. There are a number of different ways to conduct bitcoin transactions without the Internet.
Besides, do you think the Internet can be shut down? Dont forget most of the elites today only are elite because of the internet.
haha... i know the elites and they don't care about the internet .. only the minions think internet equals freedom... im even thinking about getting rid of the internet...
bitcoin isn't a big enough draw yet and is still pretty fringe.. once it becomes more mainstream it will become outlawed.. look at how many countries already have outlawed it..
Decentralization of course is one among their reason and scare of devaluation of fiat if i may be correct. Cryptocurrency is the future way forward they like it or not.
Replace the word ‘bitcoin’ with ‘fiat’ reads so nicely.
the rise of bitcoin will be the decline of their fiat money which will lose its value in a matter of time.or, they just say this for bitcoin to drop in prices and take advantage of this to amass it big time to salvage their own fiat money.
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the old guard is still in charge and nothing the people can or will do will ever change the systems that enslave them - bitcoin will eventually be outlawed and replaced by an elite backed digital currency.
quite frankly, even if the people want bitcoin it sure don't matter even a little what they want, it never did.
How do you outlaw something that isnt within your borders?
easy as pie...
think of what happened to gaddafi after he started to trade oil or gold.. the minute bitcoin becomes a threat is the minute it's over. sure don't matter that it's decentralized if you can't buy anything with it, it becomes useless and worthless....
As you get older, you prefer things that you are familiar with and control. You may call it, the explorer/exploit algorithms. Basically put, we have two basic algorithms in our brains, when you are exploring, you are looking for new places/technology/source of energy and so forth. Needless to say, that this is, predominantly, the algorithm that is common in young, no matter what species. As when faced with the challenge of life, they need yet to find their place, their partner and so forth. As we grow older, well, we start exploiting whatever we have acquired, and scorn, fear, novelties, as they offer an unnecessary risk to your well-being. Accordingly, revolutions are never brought about by the previous generation but by future ones. This future that the new generation has yet to explore.
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New thinking new possibility
Actually buffet has no clear knowledge about new technologies.He has only knowledge about traditional investment.So just discard this old man's review about bitcoin.