Warren Buffett claims crypto “attracts charlatans.” This is funny since the word has no truly fixed meaning. Subjective at best, a charlatan is “a person falsely claiming to have a special knowledge or skill; a fraud.” While the Bitcoin world isn’t lacking for such people, the fact is that we have plenty of native experts. People who’ve watched crypto markets throughout their tenure.

Warren Buffett Continues Non-Stop Bitcoin Bashing Brigade

He’s called the “Oracle of Omaha” because many people take his advice. Amazon was not a pick of his, and now it’s the most valuable company in the world. It takes more than $3,800 to acquire a single Bitcoin these days, but he reportedly remains against it.

We have to question what makes someone qualified to speak on the subject of cryptocurrencies. Any metrics we develop will immediately discount someone like Warren Buffett, who admittedly has no direct knowledge of how Bitcoin works. Does getting rich in Bitcoin make someone a Bitcoin expert? Nope, that doesn’t work either. There are plenty of Bitcoin millionaires out there, and most of them couldn’t generate a custom transaction or set up a cryptocurrency miner.

The technological side of Bitcoin is extremely important if we’re going to take someone’s opinion of the cryptocurrency seriously. A lack of understanding the actual limitations of the Bitcoin network has driven plenty of people to the folly of some altcoins which boast “throughput.” There are many times that Bitcoin makes no economic sense, but perfect blockchain sense. Why should someone pay three times the price to send a transaction as the day before? Block congestion, of course, and the block size limit.

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