JedRothwell Buffet both didn't understand and didn't like Bitcoin.
Again, you myabe confusing particluar implementation of block chain i.e. Bitcoin with general concept of it.
There are no known instances of the block chain bien hacked. Only exchanges were and they ate totally different from the block chain itself.
All cryptos not bound to something are a commodity. It takes certain resources and a lot of it to generate Bitcoin chain hash and that makes it pretty much similar to gold. If you spend same amount of electricity to power the gold mining machine you will end up with certain amount of gold.
People assumed certain value for gold and keep it as a value storage. The moment gold is used only for jewelry or industrial the price will most likely go down a lot.
Bitcoin supporters have a valid point that any fiat currency with no more that the paper it is printed on.
It is just that US dollar gained more trust over years than any other value storage.
I personally is not a big fan of it. The moment same reporting standards applied to Bitcoin as to a dollar transactions its value will have to plummet.
That is not to say that you can not use block chain tech at all. The ledger, once created, provide absolute proof of what is recorded in it be that property title transfers or stock issue without the need for a single authority. That opens many possibilities to streamline some existing processes.