Hashpower provider Genesis Mining has responded to Warren Buffet’s claims of Bitcoin being “rat poison squared”, with a scathing statement on billboards outside his office and home.
The billboards in question state:
“Warren: you said you were wrong about Google and Amazon. Maybe you’re wrong about Bitcoin?”
This references his admission in a shareholders event that he was wrong about Google and Amazon, saying it was “stupidity” that held him back from investing in Amazon. On Google, he admitted that he made a mistake not buying the share years ago.
The blog post states:
“Warren – you said two weeks ago during your annual shareholders event that you were wrong about Google and Amazon. You had a chance to invest and you didn’t because you didn’t fully understand them. Now you make public comments about Bitcoin, but how much time have you truly spent studying the industry?”
Genesis spoke at large about legacy industry experts expressing negative views on emerging technologies, pointing out a pattern between an ‘expert’ speaking negatively about a technology that has a potential to disrupt markets.
They went on to say that the power that blockchain holds is that it lives forever. These statements made by the purported “Oracle of Omaha” will indeed live on forever in the blockchain for people to find.
“The world’s most famous investor will always be associated with being completely wrong about the most famous investment class and technology that we’ve seen in decades.”
They do clarify that this doesn’t necessarily mean that Buffett is ‘dumb’, only that a person of his position and stature in expertise is expected to take the time to understand something before speaking about it.
They finished the article by urging Buffett to take a second look at Bitcoin, as he was ‘dead wrong’ about it. They also said that time will tell him how wrong he was eventually, but on a much larger scale.
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