Hello World,
As i'm sure you've all heard by now Warren's Statement today. First off let me say I have an incredible level of respect for Warren i've read just about every single biography watched all his interviews and speeches. I can most of the time be heard quoting him and his famous wise says. This is literally the first time in my knowing of Warren to completely flat out DISAGREE with one of his statements.
Here's why (the short version) Warren is known for being a person who understandings the importance of sticky with your circle of competence to become successful in an endeavor. He broke that rule with this statement, Warren is a traditional finance/industrial kinda guy not a software digital tech kinda guy.
That's mistake made number 1. Another mistake was saying something will happen with certainty without having a factual basis. Although Warren truly is one of the greatest traditional investors of all time i strongly disagree with his statement basically saying that crypto will go to 0 in 5 years.
Here's why, The blockchain movement is truly unlike any other movement in human history. 1 reason is simply because there is FULL disclosure (in most cases) meaning you don't have to wait for the annual shareholder meeting to know what the fuck is going under the hood in the company and where it plans to take itself in its future. Also keep in mind we are no longer in the industrial era. We live in the age of information and guess what sits as a top priority? Security & Movability. Does blockchain technology keep digital value (information) secured? Does it have the capability to make information travel faster?
Most crypto projects are open sourced! meaning you can see what's under the hood and point out a potential flaw or fork the project and make your own version 24/7!!!This is an extremely important fact to take into consideration in terms of looking for potential points of failure.
Which leads me to my next point the decentralised network the blockchain exists within is literally setup to not have a central point of failure ie (the main reason we have major financial depressions in our history is by having a centralized point of power) that ultimately time and time again has proved leads to corruption in the network! It's pretty difficult to attack/destroy something that exists in multiple places at once! The fact that all value is stored on a ledger and synced together forces entities to be more transparent as their every move is being recorded and will exist virtually FOREVER!
All in All: Warren as much as i love the guy was completely WRONG for making this statement and will eat his words (assuming he's still with us) just as Jamie Dimon did. Cryptocurrency & the Blockchain Technology is here to stay and truly is solving major issues that sit at the horizon of our future in the information age. It's truly the movement for "We the people" and will be one of the greatest advents of human history!!!
PS) The joke in the headline goes like this. Would you ask a lion how to swim? So why would you ask Warren about Technology lol
Explanation) You would not ask a lion how to swim because lions don't know how to swim but yet they are the kings of the jungle. That's exactly this situation Warren is the king of traditional finance he knows that plain. Cryptocurrency & Blockchain technology is like the ocean you should probably ask a shark how to swim idk Mark Cuban (pardon the pun) lmfao!
-Gotblocks
