Warren Buffett: Cryptocurrency Will Come To A Bad Ending | CNBC

Billionaire investor Warren Buffet says cryptocurrencies are headed for trouble.
Warren Buffett thinks cryptocurrencies will end badly  2:34 PM ET Wed, 10 Jan 2018 | 00:59

Billionaire investor Warren Buffett told CNBC on Wednesday the recent craze over bitcoin and other cryptocurrencies won't end well.
"In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending," the chairman and CEO of Berkshire Hathaway said.
"When it happens or how or anything else, I don't know," he added in an interview on CNBC's "Squawk Box" from Omaha, Nebraska. "If I could buy a five-year put on every one of the cryptocurrencies, I'd be glad to do it but I would never short a dime's worth."

Warren Buffett thinks cryptocurrencies will end badly  2:34 PM ET Wed, 10 Jan 2018 | 00:59

Billionaire investor Warren Buffett told CNBC on Wednesday the recent craze over bitcoin and other cryptocurrencies won't end well.
"In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending," the chairman and CEO of Berkshire Hathaway said.
"When it happens or how or anything else, I don't know," he added in an interview on CNBC's "Squawk Box" from Omaha, Nebraska. "If I could buy a five-year put on every one of the cryptocurrencies, I'd be glad to do it but I would never short a dime's worth."

Also on the show, Buffett's right-hand man, Charlie Munger, also blasted frothiness in bitcoin — and in venture capital funding.
Earlier Wednesday, the Omaha-based conglomerate announced the appointment of two new vice chairs. Gregory Abel, 55, will be vice chair of non-insurance businesses. Ajit Jain, 66, will be vice chair of insurance operations.
Buffett said he would not take a short position on bitcoin futures.
"We don't own any, we're not short any, we'll never have a position in them," he said.

Why is Bitcoin falling TODAY ???

Bitcoin price: Why is Bitcoin falling TODAY? Is it the right time to buy cryptocurrency?

Bitcoin’s BTC token plunged more than $1,000 (£725.90) between 7.14am and 8.34am yesterday, and has since hit rock bottom today at $9,650.34 (£6,992.83) around 2.57pm – its lowest price since the November 2017.

Cryptocurrencies were off to a pretty volatile start this year, but reports of South Korean regulators cracking down on exchanges shook the entire digital currency market.

Earlier on Tuesday, Finance Minister Kim Dong-yeon reiterated that a ban on crypto trading is still very much a “live option”.

Another senior official Jung Ki-joon  said: “We will respond strongly to cryptocurrency speculation and illegal acts, but we will provide support to research and development relating to blockchain technology.

“The proposed shutdown of exchanges that the justice minister mentioned recently is one of the measures suggested by the justice ministry to curb speculation.” 

Cryptocurrency trading in South Korea is highly speculative, more so than the rest of the world, at times trading with 30 to 40 percent premiums.

Crypto tokens were plunged into another crash last week when crypto tracker CoinMarketCap decided to pull Korean exchanges from its valuations. The move saw Ripple’s XRP token fall up to 30 percent.

South Korea’s Government is now working on a bill which effectively limit digital currency trade amid fears that speculative prices are a dangerous risk to investors.

China has already banned the trade of cryptocurrencies and Russia is toying with a similar idea.

But Korea’s plans have not been finalised yet and still need to be passed through Government for approval.

According to Matt Greenspan, an analyst at trading platform eToro, trade volume in South Korea and Japan has seen steady decline over the past days.

He said: "This morning, the combined volume from these two top crypto trading countries dropped below 30%.

iPhone X review

The iPhone X is the huge leap forward that Apple's handsets needed. Aside from the original iPhone in 2007, this new iPhone is set to have the biggest impact on Apple’s smartphone direction ever.

[Update: We've been using the iPhone X for a few weeks now, so check out our updated findings throughout this review]

Apple itself is calling it the future of the smartphone, the embodiment of what it’s been trying to achieve for a decade. But while the iPhone X is all about premium parts and an all-new experience, it’s a huge gamble for the Cupertino brand too as it tries to reclaim some leadership in smartphone innovation.

Losing key, reliable elements like the Touch ID fingerprint scanner, the home button; introducing new methods of navigating and unlocking the phone – and charging a lot more for the privilege – seems risky for a company that was already treading new ground by doing away with the traditional headphone jack last year.

But the iPhone X is the handset we’ve been demanding from Apple for years – a world away from the increasingly-tired designs that those who just want a new iPhone have had to make do with.

The iPhone X is clearly the best iPhone ever made. It’s thin, it’s powerful, it has ambitious ideas about what cameras on phones can be used for, and it pushes the design language of phones into a strange new place. It is a huge step forward in terms of phone hardware, and it has the notch to show for it