Buffet and 99% of other traditional investors probably don’t understand p2p decentralization.
An 87 year old man that's the third richest person in the US and whose tens of billions of dollars will be given away to charity (not even a charity named after himself) in a few short years when the inevitable happens, is blind-sided from rage/jealousy at having missed out on the crypto boom? Come on, you need a better model of other people.
But he knows investments a lot better than he knows Bitcoin tech. Why would an in depth knowledge of bitcoin override existing knowledge about investments? The tech of bitcoin certainly does nothing to prevent a bubble, and he's probably seen more bubbles come and go than the rest of us have had hot dinners.
I understand p2p decentralization pretty dang well, and I thing the idea of proof-of-work is abhorrent. I know there are proof-of-stake systems as well, and that's clever - maybe they're better...
But maybe you're forgetting that governments love to come down on things like this, and that would make it a lot more difficult for everyone.
Crypto currencies might have some uses, but it’s pretty much a fad. Blockchain is interesting, but Bitcoin is pretty useless. I have yet to see a single thing that BTC does that I can’t do with actual money. And ICOs? Just ridiculous. Solutions in search of a problem.
They're the solution to the problem of "How do I redirect millions or billions of dollars of other peoples' money into my bank account while doing very little actual work?".
Or was I banned because I insulted a "business" model that ycombinator is watering at the mouth to cash in on?
..or is it because I said truthful/unflattering things about Coinbase?
I didn't notice that you said anything about Coinbase, nor would that make a difference.
I find this particularly amusing when it's directed at people who have been involved with Bitcoin from the very beginning.