Triggered by Warren Buffet : Bitcoin, Ethereum, Steem and cryptocurrencies have no future.

The man, the legend, Warren Buffet, CEO of Berkshire Hathaway (BRK.A, + 0.47% BRK.B, + 0.51%), confided this Wednesday in an interview for the CNBC that it was almost certain that the cryptocurrencies had no future.

In his own words:
"In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending. When it happens or how or anything else, I don't know."
"If I could buy a five-year put on every one of the cryptocurrencies, I'd be glad to do it but I would never short a dime's worth."

Warren Buffet is, from what we know about him, a man who worked a lot in his life to bet on the best project to make his money grow. Investor from a very young age, Warren Buffet understands and quickly assimilates the concepts of finance, learns from his mistakes and saves important returns believing in one key concept: compound interests.

With the help of a long-term investment vision and strict rules, Warren Buffet's goal of becoming the richest man in the world is realized in 2008, when he is named as such by the magazine Forbes with a fortune estimated at 62 billion dollars. That's hell of an amount.

In short, you understand that Warren Buffet is not the funny dude at the end of the classroom when it comes to talking finance. By 1969, his investments had realized gains of almost 30% on average and per year, when the American market realizes an average of 10% and that 80% of the investors hardly reach this yield.

From his experience he drew rules of conduct known to most investors, whether beginners or veterans, like the famous "Be fearful when people others are greedy and greedy when others are fearfull".

To come to the point, it is important to know that the basics of my investments generally reflect the principles of M Buffet. He is a character who inspired me a lot and continues to do it everyday. I read a lot about him and listened to his advice before buying my first asset. Again and again, his advice echoes when I'm about to put my hardly-earned money in a market.

If we take the famous debate betweennature and nurture: does the environment affect the personality of a person, and that we agree that the society, the place , the environment in which a person grows play on the way he/she will make his/her choices later, so it is possible to make some remarks about the words of Mr. Warren Buffet.

According to Warren's words himself, he was lucky to be born among the small percentage that represents a "man, white and American" at his time. Warren Buffet comes from a different world. He did not know what the younger generations of today have known, he probably does not have the same vision that we have, seeing how the whole world evolves through our screens all day long. Besides, he does not even use a computer. Yes, you read correctly, one of the richest men in the world does not know how to use a computer. Be careful, I'm not saying that he does not master the art of collecting information; something he must be much more talented at than us, otherwise we would be billionaires as well, right?

How can someone who does not know how to use a computer can give his opinion on a subject as technically complex as Bitcoin and Blockchain?

Bitcoin has brought a solution of transfer of value between actors who do not know each other without needing to trust by solving a cryptographic problem until then unsolved. And it's been nine years since it exists, no hack proved. This is a phenomenal advance. With this technology, hundreds of thousands of people will finally be able to exchange money and stocket safely, without having to go through dubious intermediaries whose only goal is to put their pockets.

Yes, Bitcoin is a revolution. Yes, the Blockchain has a future. Yes, the future will be decentralized.

I'm not saying that it will be all great and that there will be no losers in the story, crashes, horrible things, any disruption creates major changes. Maybe it will be Bitcoin, maybe it won't. But it's certain that it will be Blockchain.

This technology is more than just a fad. Advanced technical, social and economic, it is a movement of substance that the Blockchain triggered. A wave, a hope much more powerful than money. It's time for the individual to regain control.

But we can not expect everyone to join this libertarian movement. Some people are completely satisfied by the current system, some have enjoyed it happily, while some do not even understand it and "do with".

Is this a technique to create fear from M Buffet to buy lower (see JP Morgan)? Is this the echo of a financial system that is living its last hours ? Is it simply misunderstanding?

In your heart, how do you react to such remarks? Do you know technology well enough to have the same conviction as mine?

Life Bless You,

Rob.

sources:
https://finance.yahoo.com/news/warren-buffett-wrong-bitcoin-205400770.html
https://www.cnbc.com/2014/03/14/buffett-blasts-bitcoin-as-mirage-stay-away.html
https://steemit.com/cryptocurrencies/@charles1/cryptocurrencies-steem-bitcoin-ethereum-et-al-will-certainly-end-badly-warren-buffet
https://fr.wikipedia.org/wiki/Warren_Buffett