I don’t know if anyone here follows crypto. I would imagine most if not all users are well aware of blockchain technology and what advancements can be made using it. That being said, Warren Buffett has been notorious for being against crypto and recently said he would not pay $25 for all the Bitcoin in the world.
I believe this is because crypto threatens the banking system and the controlled infrastructure the banks have over not only people but businesses and governments. I never liked the guy. I will just say that.
This man is against anything that threatens his wealth.
I am not a big crypto head but I have some investments and I am interested in the blockchain technology that powers the whole thing. I feel it can really advance us to the next level in terms of security and general technology.
I’m also into crypto. I have some investments as well. I would agree that buffett feels threatened or doesn’t understand the technology.
Crypto trading volume is down 40% this year. There’s no more “disposable income” to reinflate the bubbles and global energy costs of mining are through the roof especially now with what’s happening in Russia with oil/gas. This malinvestment period we’ve been in with crypto is about to end.
Do you think this was intentional?
I understand that a lot of what is happening is out of our hands but it seems like anytime war arrises, there is a motive or several motives attached that don’t directly factor in with the war but more so governments and banks taking advantage of it.
Maybe I am not looking at the entire picture but to say crypto is about to end seems a bit premature.
I get what is going on with the world and the shortages but the people blaming crypto mining for being “bad for the environment” were not concerned with airlines flying empty planes for months. Planes, jets, and ships cause WAY more damage than crypto mining by a long shot.
I am not a rich guy! I wish though… Anyways, I agree with mr buffet (up to one point). Crypto, is the end of freedom and the beginning of a controlled society. I heard so many opinions about this, pro and cons and I drew the conclusion that, yes, it is not good at all. I heard so many people being so excited that they can make a lot of money being on the decentralized finance side… Ooooh no! It’s going to be exactly the opposite! Watch what you wish for!
@Cl4udius welcome to our tech community. Great to have you here.
Thank you so much! I am glad to be here as I have a lot to learn!
That is what a few people in my family have been saying. My brother said that once we move to completely digital currency, they will be able to control us all. If you don’t do something they like, you won’t be able to buy anything no be paid.
He is a Christian and likes to reference the mark of the beast here. While I am not on the same page as him in that aspect, the thought of that is terrifying.