Post
Topic
Board Bitcoin Discussion
Re: Bitcoin is not a currency?
by
neerv
on 11/01/2018, 02:35:21 UTC
I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years".

Is he a hater of bitcoin? while other big names appreciate the bitcoin.

Your thoughts?

A currency is what is accepted as a currency by enough number of people. It's not like the US Dollars or any other nation's currency has any 'intrinsic' value, they are just pieces of paper stamped by the governments as well. The intrinsic value of a currency is always brought on by the economic value generated by the people who are exchanging the currency as a mode of payment and not by the currency itself.

Warren is a smart man, definitely a lot smarter and wiser than me, but anyone needs to put in the time to understand and contemplate before they go about making statements.