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Technical Understanding of cryptocurrencies has nothing to do with financial understanding. It feels to me a fallacy to think because you understand the tech,
by beberlei 9y ago
Technical Understanding of cryptocurrencies has nothing to do with financial understanding.
It feels to me a fallacy to think because you understand the tech, you are magically a good investor in it.
Buffet is historically one of the most successful investors in assets, and that usually didn't require him to "technically" understand every detail of the inner working of the offered product.
- dmichulke 9y agoI know it can be read as "technical understanding" but I mean both technical and financial understanding. It helps your investment - if you are able to distinguish good code from bad (technical skill) - if you understand whether a blockchain (or tangle or whatever) is appropriate for the coin's use case (technical skill) - if you understand how fiat money works (financial skill) - how hyped and bubbly markets work (financial skill) - ... So it's good to know both and if you do, you arrive at your own opinion / take, regardless of what Dimon, Thiel or Buffet say.