Reply to post: Re: Who really does understand them?

Cryptocurrencies to end in tears, says investor wizard Warren Buffett


Re: Who really does understand them?

Warren Buffet is very smart, very experienced and knows a lot more about investment and the economy than anybody who is likely posting here. It's outrageous arrogance for El Reg to be pronouncing on Buffet's lack of understanding. Especially given they seem to be misrepresenting Buffet saying "I don't fully understand this" to "will all end in tears".

People saying Bitcoin et al are no different to the US dollar because neither are backed by physical wealth miss that the US dollar IS backed by two very important things: as the national currency you can pay US taxes in it. And the US tends to bomb any country that calls into question its value (Libya I'm looking at you).

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