“The Oracle of Omaha” they called him. A nuanced title to be sure, but probably fitting given his investing prowess over the past several decades. Over his lifetime, he’d made more fortunes than most people could even dream about.
Admittedly, he wasn’t always right. But obviously he’d gotten where he was by being right more often that he was wrong. And he was sure that this time he was right. He’d heard enough about “Bitcoin” and “cryptocurrency” to want to share his own prediction of what would come next for those who got caught down that rabbit hole.
Time would tell whether he was right or wrong. At his age though, being wrong wasn’t quite as calamitous as it had been in years past…
The above account is a fictionalized dramatization that is loosely based on the reported events surrounding Warren Buffet, billionaire investor and vocal critic of the Bitcoin revolution. As such, it should not be taken as factual.
Dear Readers,
For some people, like me, Bitcoin is a godsend and a revolution that has the potential to change people’s lives for the better. But for many others, Bitcoin is an enigma that they have no desire to figure out and Bitcoin has faced its share of critics over the years.
Truth be told, figuring out Bitcoin isn’t for the faint of heart. It takes countless hours of studying to even begin to comprehend how Bitcoin can be personally relevant. For example, I studied Bitcoin for several years before I truly understood what made it different from everything in “crypto” and decided to focus on nothing else in the space.
Nearly 15 years into the Bitcoin revolution, most people still haven’t even taken their first step along the path to learning about Bitcoin. But as we’ll see today, knowing nothing about Bitcoin doesn’t keep some people from thinking they know enough to write it off…
The Exterminator of Omaha
Warren Buffett is a man who seemingly knows his way around money and investing. At age 92, and after having spent over seven decades creating one of the largest investment empires in the world, he is seen as one of the preeminent investing gurus in the world. No joke: people travel from all around the globe for a chance to hear him speak.
When Warren Buffett speaks, people listen. And unfortunately for his listeners, Warren Buffett is an ill-informed, but vocal critic of Bitcoin and everything it represents. He takes every opportunity presented to him to verbally attack Bitcoin, such as in mid-2018 when he denounced it as “probably rat poison squared”.
Those who have spent the time to learn about and understand Bitcoin can easily shake off Warren Buffett’s negative comments as driven by a pure lack of interest in objective truth. That said, many of his acolytes will be blinded to the truth, either temporarily or permanently, as a result of his attacks.
It’s for that reason that educating oneself and others about Bitcoin is so important.
Do Your Own Research
As humans, we’re wired to take the easy way out. That’s why so many of us look to financial advisors and investing gurus to tell us what to do with our money, even down to our very last cent. While I certainly have no objection to learning from the wisdom of others, there is no one who knows it all. In other words, glean what you can from others, but never hesitate to do your own research.
For those who are just beginning on their Bitcoin journey, the Bitcoin whitepaper is a great place to start. And while I certainly believe that my newsletter is one of the best places to learn how Bitcoin works and why it matters, I also won’t hesitate to point you in the direction of quality Bitcoin educators like Saifedean Ammous, Jimmy Song, Michael Saylor, and others who I believe can help you truly understand why Bitcoin is not rat poison squared, but the biggest financial revolution in history.
Scams.
Rugpulls.
Shady companies that will take away your hard-earned money the first chance they get.
That’s what most content creators in the Bitcoin and Crypto spaces offer their communities in exchange for the *free* content they promote in newsletters, on talk shows, on social media, and anywhere else they can peddle their wares.
YOU DESERVE BETTER.
You deserve quality Bitcoin education that isn’t driven by a need to sell you something that will leave you worse off. You deserve thoughtful analyses of Bitcoin basics and current events that leave out the biases that permeate affiliate-driven content platforms. You deserve a community that puts you first, no matter what.
We’ve built the HiFi Bitcoin community together as a place where quality Bitcoin education comes without any hidden agenda. A place where you come first, always.
If you believe that Bitcoin education should be available to everyone without bias and without ulterior motives, I ask you to please consider supporting me and the work I’m doing for the Bitcoin community through a premium membership. Every contribution increases my ability to cut through the noise and find the truth about Bitcoin with you.
A Special Bonus For Premium Members
In my new book, The Ultimate Pocket Bitcoin Glossary, I walk you through 30 of the most important terms you need to understand in order to get ahead in your Bitcoin journey. My hope is that it can be used to educate yourself about Bitcoin and as a quick reference when you’re trying to help others understand why you’ve chosen to purse a passion for Bitcoin.
Ready to read it yourself?
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This is not financial or business advice. This newsletter and related content are for informational purposes only. Cryptocurrencies and digital assets can be risky. Always do your own research before making any sort of investment.
Letter #158: Bitcoin and the Story of Antifragility #9 - Rat Poison Squared