BITCOIN NEWS IN REVIEW: WARREN BUFFET, EVOLUTION, BITCOIN BOWL, AND MORE

Welcome back to another Bitcoin News in Review, where we feature some of the top stories of the week here on CryptoCoins News. This week, Warren Buffet spoke out against bitcoin, we looked at a new dark net market that replaced Silk Road 2.0, watched the Bitcoin Bowl, and more. Keep scrolling for this week’s top articles.
Warren Buffett: ‘Stay Away from Bitcoin’
‘Stay away from it. It’s a mirage, basically. … It’s a method of transmitting money. It’s a very effective way of transmitting money, and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope Bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways, and it will be. The idea that it has some huge intrinsic value is just a joke in my view.’
This is what master investor Warren Buffett had to say on bitcoin. As most people know, Buffett has had incredible success with his investments and is currently one of the richest people in the world. Throughout 2014, bitcoin has steadily declined in price. However, it’s arguable that Buffett doesn’t entirely understand the technology behind bitcoin, especially when he compares it to a paper check. Do you think Buffett’s advice is correct? Or does he not really understand what he’s talking about?

This post was published at Crypto Coins News on December 29, 2014.