Billionaire investor Warren Buffett told CNBC on Wednesday the recent craze over bitcoin and other cryptocurrencies won’t end well.
“In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending,” the chairman and CEO of Berkshire Hathaway said.
“When it happens or how or anything else, I don’t know,” the billionaire Berkshire Hathaway chief says.
Read more at CNBC.
{Matzav.com}
First Jamie Dimon. Now Buffet. They both know a thing or two about how money/currency works. Aha. But these yeshiva kids who made a few dollars know better. What upsets me, is that I see ads in the heimishe media/papers of so-called seminars being advertised with heimishe “businessmen” who are “experts” in starting businesses & maintaining them, and they will give “expert” “advice” on how to get in to the Bitcoin mania! How many times have we seen this movie already? How many times are these vultures going to take advantage of the most gullible and vulnerable amongst us?! How much more Yiddishe gelt is going to be thrown down the drain so a few of these hucksters can make out like gangbusters?! Why are these ganovim given the platform to rip off fellow Yidden?! Then when they are caught and thrown in prison, we’re supposed to have rachmanus on their wife and kids. I’m not buying it. The most successful businessmen don’t have the time to give “seminars”. They are busy making money. It’s the lo yutzlach gangsters that are giving this tremendous advice to the most gullible. Pheh.
Here are a few questions for would-be cryptocurrency (CC) investors:
1) What makes one CC worth more than another?
2) What’s to stop even more people or organizations from creating their own CCs?
3) Will the increasing proliferation of CCs cause older and/or more valuable CCs to crash?
4) Can I create my own CC and watch the $$$, bit$ and byte$ roll in?
Base on my own understanding of blockchain technology, I don’t think the answers to the above questions will encourage investment in CC.
He doesn’t know what he is talking about. I never heard of this guy. But please please currency trading is as old as the Hills