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Trump, Buffett, Munger, Dimon, etc... Kinda hard not to feel slightly embarrassed when old men of traditional finance speak out against crypto when it's clear they don't actually have a clue what they're talking about.

Trump, Buffett, Munger, Dimon, etc... Kinda hard not to feel slightly embarrassed when old men of traditional finance speak out against crypto when it's clear they don't actually have a clue what they're talking about.

All Cryptocurrencies

by COINS NEWS 13 Views

So there will be a core of people they believe that these guys know exactly what they're doing when these old men speak out against Crypto, which suppose could be possibly true.

However that would imply they've done their homework.

I believe if they had, they'd realised just how revolutionary crypto is and how nothing they could say would ultimately prevent crypto becoming the inevitable future.

In that scenario I reckon it's more likely they'd just say nothing/ not pass comment for fear of looking stupid down the line... after all the advent of crypto isn't going to make these guys poor anytime soon but they do have legacies to safeguard.

I think it's probably more realistic that they just have an ingrained/ ignorant generational and technophobic bias.

Some of their comments just make them sound like blinkered old men blinded by the nostalgia of traditional mainstream finance they've been enshrined in all their lives.

They're probably the same men, that clung on to buying records and CDs until they were unavailable in the shops, stuck to push button cellphones when everyone was swiping away, avoided using that internet thing because it was a place where geeks and criminals hung out.

These days Trump now addresses the world by tweeting from his iPhone... we all know that the ability to pay people from that same phone using a global internet currency is going to happen and long overdue.

Reading though the comments his tweet has received it's clear embarrassing clear to see that his opinion is in the "old man mentality minority".

It's a bit like the grandchildren telling their grandfather that he should really consider streaming music but he's insisting on driving all the way down to the shops and hunting about for cds.

Unfortunately if these guys don't at least try educating themselves and offer constructive criticism instead of mainstream media fud sound bites they risk succumbing to the "old man Peter Schiff effect" one that takes an early anti-crypto position, then having to continuously dig their heels in further to save themselves from losing face... but as time goes on they just start to look even more stupid than the last time they spoke out against.

A call for all anti-crypto critics of the elderly/ traditional financial system to actually do some in-depth researching before forming an old school blinkered opinion.

submitted by /u/jam-hay
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