“If you buy something like Bitcoin or some cryptocurrency, you don’t have anything that is producing anything. You’re just hoping the next guy pays more. And you only feel you’ll find the next guy to pay more if he thinks he’s going to find someone that’s going to pay more.” – One of Warren Buffett’s characteristically negative cryptocurrency quotes
The establishment still looks down on cryptocurrency as some sort of goofy novelty that will eventually run its course. They might point out that some unseemly people helped to give crypto its start, or that its technology makes it inaccessible to many investors. (We don’t doubt that Buffett’s disdain for crypto stems at least in part from his advanced age. Anyone who has tried teaching a nonagenarian how to use a remote control would rather jump off a cliff than explain blockchain to one. They’d probably land next to the body of the guy who dropped 10,000 Bitcoins on pizza.)
In many talking heads’ books, the biggest strike against crypto is that it’s not backed by any government. But from a philosophical standpoint, this is in fact crypto’s greatest strength. What business has a government really got when it comes to your wealth? Outside of taxing it, that is, a goal which the U.S. government is currently fixing its beady eyes on. What you buy and sell should really be none of Senator Bedfellow’s concern – he only sticks his nose into your money so he can forcibly redistribute it to himself and his constituents.
For all its blessings, crypto is not for the weak of heart. If the average schlub lost 30% of his portfolio in a single day, he too would join the pizza guy’s cliffside cadaver. But fortune favors the bold, and in crypto’s case so does time. Tuck a little more of your dough into crypto every day, and soon you might be able to afford whatever Buffett rides around town in. (And I’m not talking about a hearse).
Best Cryptocurrency Quotes
No more cryptocurrency quotes for today – I have to go trade some Dogecoin and Garlicoin for an even more stupidly named coin. Just one more thought before I go. From the regular Joe’s standpoint, the primary shortcoming with cryptocurrency is that he can’t throw it down a wishing well. But if you were smart and bought crypto at the right time, there would be very little that a wishing well could actually do for you.