What Do The Elders Of The Technology World Say About Cryptocurrencies?
The Cryptocurrency Market Is A Mix Of Love And Hate. Some Love It, Some Hate It, Some Are Indifferent To It, And Another Group Loves It.
Cryptocurrencies investors like it because it deposits significant profits into their accounts. On the other hand, some people have lost their capital due to a sharp fall in a digital currency, failed their assets due to a lost password or a hacked wallet, and these people get angry whenever they hear the term digital currencies.
Another group is indifferent to digital currencies and the events surrounding them because they do not have any activity in this market; they do not follow the news in this field. They do not care what is happening in the world of digital currencies, but there is another group that They love digital currencies.
Meanwhile, the point of view of the elders of the information technology world plays a vital role in shaping public opinion. These people are the same infrastructure developers who earn more money from digital currencies than anyone else; People who develop cryptocurrencies and related infrastructure and blockchains raise seed capital and encourage people to buy cryptocurrencies through advertising. This article will briefly review some of their points of view.
What does Warren Buffett think about digital currencies?
One of the most important criteria for people who want to enter the world of digital currencies and buy cryptocurrencies is the opinions and recommendations of big investors. Warren Buffett is one of the world’s most influential people with interesting advice on money and investment. Warren Buffett is one of the wealthiest people in the world. Warren Buffett does not have a favorable opinion about digital currencies like Bitcoin. Not only has he not invested in digital currencies, but he also has no interest in them.
Warren Edward Buffett is still on the list of the wealthiest people in the world. He is estimated to have a fortune of more than 100 billion dollars, making him one of the top 5 wealthiest people in the world. For this reason, when he gives advice or suggestions in areas such as economy and money, he is considered by people. Warren Buffett believes that cryptocurrencies have no intrinsic value and therefore have never invested in them. He says: “The lack of intrinsic value and the vagueness of the origins of a cryptocurrency like Bitcoin has made investing in it risky.”
Interestingly, the increasing use of Bitcoin as a payment solution worldwide in recent years has not made him change his opinion. He still believes that currencies like the dollar will always remain real money.
He believes agriculture, real estate, and real estate are more profitable than cryptocurrencies.
He said at the annual shareholders meeting of Berkshire Hathaway, which he owns, in May 1401: “If you own all the bitcoins in the world and you want to sell your bitcoins for $25, I will still reject your offer because there is nothing special I can do.” Hence, if the ground is set to buy the entire Bitcoin market at an expected price, it won’t do it. Do it with Bitcoin, and I’ll have to sell it back to you. In a situation where you can get rent by investing in real estate and get food by investing in agricultural land.
It is not harmful to know that Berkshire Hathaway Holding invested one billion dollars in Nubank in 2021. This Brazilian bank is one of the most valuable banks in Latin America. Nubank serves those interested by offering products such as Bitcoin exchange-traded funds (ETF). More precisely, the holding under the leadership of Warren Buffett is indirectly active in the world of digital currencies!
In addition, Nicole Buffett, the granddaughter of Warren Buffett, has a different point of view in this field and extensive activity in the area of digital currencies. He uses the Ethereum network and NFT technology to sell his artwork. In October 2021, he announced that he had sold his collection of non-homologous tokens. Has it?
He believes that Ether (ETH), the digital currency of the Ethereum infrastructure, will become the common currency of the NFT world.
Also, he believes that while Ethereum is the leader in the NFT space, competitors such as Solana and Cardano are trying to gain a share of the Ethereum market. “Investing in the art world using technologies like NFT is similar to investing in the stock market or buying bonds,” says Nicole Buffett.
When my grandfather is trying to investigate a technology like Bitcoin, he wants answers to a few critical questions. Is the activity based on ethical principles, and does it have a fixed and sustainable value? I believe the answer to these questions concerning the art world is positive.
Nicole Buffett says she offers her NFT artwork anonymously and at fair prices, so buyers don’t know the works they’re buying are hers.
Berkshire Hathaway CEO Warren Buffett and Vice Chairman Charlie Munger do not have a favorable view of Bitcoin. In one of his speeches, Buffett pointed out that he does not know whether the next year will see an increase or decrease in the value of digital currencies. Still, he is sure of one thing digital currencies do not produce anything, but due to false advertising, they have caused many people to enter this field.
Become interested. It also criticized the passive nature of Bitcoin and said:
“In some businesses, if you invest, rent is generated, but if you invest in agricultural land, you get a product that the community can use, while Bitcoin does not give you anything.”
“In my life, I try to avoid stupid and evil things that make me look bad, and Bitcoin has all three,” says Charlie Munger. Digital currencies are not a valuable asset because there is always a possibility of their becoming zero. “Digital currencies weaken the economy of governments.”
Elon Musk’s opinion about digital currencies
Elon Musk, the CEO of Tesla and SpaceX, has an interesting point of view regarding digital currencies like Bitcoin. Sometimes it supports them and increases the value of specific cryptocurrencies. Sometimes it implicitly criticizes them with various titles such as protecting the environment, which causes the market to face fluctuations over time. In one of his tweets published in 2021, he pointed out that the price of Bitcoin will reach $69,000. Interestingly, the cost of Bitcoin earned $68,500 on November 9, 2021.
It’s been almost a year since Elon Musk mentioned his $69,000 Bitcoin price prediction. Nearly a year ago, when Elon Musk seriously published tweets about the price of digital currencies, it significantly impacted the digital currency market. Of course, according to some experts, the digital currency market is more fun and entertainment for Elon Musk. For example, in one of his tweets, he mentioned a string of numbers that some assumed were referring to the future prices of the digital currency Bitcoin.
Some believed that he predicted the price of Bitcoin, but later it became clear that he was talking in code, and if you convert these numbers in the HEX converter to the ski code, the phrase Haha True is obtained. Next, he decided to tweet more about Dogecoin. For example, one of Elon Musk’s tweets about Dogecoin could easily cause a sharp fluctuation in the price of this digital currency, and its price increased by 35%.
In another tweet, Elon Musk only mentioned the name of Baby Doge Coin, and this one word caused the value of Baby Dog to increase by nearly 90%, although its value continued to decrease.
However, in an interview with Bloomberg, he pointed out that he did not play a role in getting people to join the crypto market.
“I never said people should invest in the cryptocurrency market,” he said.
In June 1401, he announced that he was not interested in talking about Bitcoin because he was focused on washing Twitter and using Dogecoin in Tesla. Now the question is, will the price of Bitcoin reach $69,000? In the situation that the cost of Bitcoin crossed the 68 thousand dollars mark, but now it has a sharp drop compared to a year ago, and at the time of writing this article (June 28), it is 19625 thousand dollars. According to some activists in the field of digital currencies, Elon Musk has indirectly announced the price of $69,420 of Bitcoin as a level for this currency to become a trend on the Internet. As was mentioned, the value of this digital currency reached $68,000.
Sam Bankman is the wealthiest person in the world of digital currencies.
People active in digital currencies are well aware of Sam Bankman-Fried, the founder and CEO of the FTX exchange. He is the wealthiest person in the world of digital currencies, and at the age of only 29 years, he has about 26 billion dollars of capital and is the 60th wealthiest person in the world. He believes that the future of those digital currencies and other cryptocurrencies will replace Bitcoin, one of which is Solana.
In recent years, various ecosystems have emerged to build smart contracts and decentralized applications to compete with Ethereum.
Only some of them are known as severe competitors of Ethereum, of which Solana is the most famous. Since the beginning of 2021, Solana’s digital currency has managed to grow by 17 thousand percent in just ten months. Sam Bankman Fried believes that Solana has the potential to replace Bitcoin. “Solana could become the next top digital asset project in market capitalization and overtake Bitcoin,” he says.
Sam Benkman Farid believes that more companies and institutions will enter the world of digital currencies in the next few years, making the cryptocurrency market flourish. “Solana is a blockchain project that will provide a wide range of capabilities to companies so that the digital currency of the Solana ecosystem can become the next Bitcoin and the most valuable digital currency,” he said.
Steve Wozniak considers Bitcoin more valuable than gold.
Steve Wozniak, the co-founder of Apple, considers Bitcoin a great miracle in the world of information technology based on an exceptional mathematical formula. For this reason, he has a very favorable opinion about digital currencies but considers Bitcoin the only pure digital gold. Interestingly, Steve Wozniak hasn’t bought any Bitcoins yet, but he is a Bitcoin supporter.
Steve Wozniak says, “Bitcoin mining is much easier than finding and mining gold. Gold is limited, and you have to look for it, but Bitcoin is the most interesting mathematical miracle. “I haven’t invested in Bitcoin yet, but I believe that Bitcoin is not going to go away.”
Steve Wozniak is not the only person who describes Bitcoin as digital gold; other analysts agree with him as they believe there will always be a limited supply of Bitcoin and gold in the world. It is what makes Bitcoin maintain its value over time. One thing to note about Bitcoin is that as we move forward, it gets harder to mine Bitcoin from networks. Now, Wozniak launched his digital currency called the WOZX token.
Efforts, which he owns, operates in renewable energy, and the token WOZX is the company’s cryptocurrency. Efforts is an energy-related trading infrastructure that works based on blockchain. It connects people who want to use energy optimally in industrial processes with experts in this field. In the connection process, payments are made through the said token.
Steve Wozniak has some advice for those interested in entering the world of digital currencies.
He claimed that most projects related to digital currencies are scams. “Token creators try to use celebrities to lure investors into buying their tokens,” Wozniak said. There are many digital currencies created these days. Each person finds a way to generate a token, and each ticket has a well-known figure who acts as a marketer for that token.
Most of these people aim to attract money from people who want to invest in a token in its early stages. My advice is to approach investing in anonymous tokens with a positive outlook and deep research.” He believes that governments will soon deal with digital currencies they will go because they won’t let Bitcoin get out of their control.
Bill Gates critic of digital currencies
If you search the Internet, you will find that Bill Gates is not a fan of digital currencies, and in most cases, he condemns technologies like NFT or digital currencies. In one of his famous tweets, Bill Gates warns users that they should be cautious about buying Bitcoin if they have less capital than Elon Musk.
Bill Gates mentions this exciting point in one of his tweets: “The value of companies is calculated based on their internal production. “The value of digital currencies is calculated as someone deciding how much someone else should pay for that asset, without adding any value to society.”
In an interview with the Bloomberg news site, he said:
“Elon Musk makes his transactions based on advanced management techniques that ordinary investors are denied access to.” In his speech, he points out that whenever Elon Musk talks on social networks about the fall or rise in the price of Bitcoin, he is sure that he is immune from possible losses. In one of his exciting tweets, he says: “Elon Musk has a vast fortune and is a very professional person in the world of business and economics.
“I don’t think he will make a profit or a loss based on the volatiBitcoin price volatility. He knows what’s the right thing to do.” You should know that nearly two weeks after Tesla announced that it had purchased $1.5 billion in Bitcoin, the price of Bitcoin dropped by 20% to around 46,000.
So lost that 400 million dollars of the total value of the global digital currency market at once. The horrific crash came just hours after Musk tweeted that the current prices of Bitcoin and Ether were too high.
“Don’t blindly follow the actions of people like Musk,” Gates tells average investors. If you are not a billionaire, be careful not to lose your wealth. I imagine that people who are attracted to the digital currency market do not have a lot of money, and they are the ones who lose the most and make other people rich. There are technologies in society that have a sound output, and we can invest in them.
