I appreciate the level-headed rebuttal. Usually people get very angry and throw reason away in online forums. I am not claiming with certainty that this stuff is true, but as someone who has been following crypto markets pretty closely for a while now, it is very apparent to me that it is and has been happening. Perhaps some day there will be some independent, investigative journalist that proves it, but for now it is all just speculation.

I somewhat disagree about Bill Gates and Warren Buffet’s intentions though. I believe strongly that wealthy individuals and banks and governments are very scared about the threat that crypto currencies pose to their wealth. The more money that moves into crypto currencies from the traditional financial system the more they have to lose. Also some of the quotes they are throwing around are not those found in a well educated debate, but rather childish, playground insults:

“Probably rat poison squared” – Warren Buffet

“A rare technology that has caused deaths in a fairly direct way” – Bill Gates

“Worthless, artificial gold” – Charlie Munger

“A scum-ball activity.” – Charlie Munger

“It’s just dementia. It’s like somebody else is trading turds and you decide I can’t be left out.” – Charlie Munger

Nearly as bad as trading “freshly harvested baby brains” – Charlie Munger

If they really did not feel threatened by Bitcoin or think there was something there, they would keep their mouths shut.