On point 2, note that I didn't say what you seem to have heard. I agree with what you said, without reservation.

* 1: True.

* 2: Probably, but being a professor at Harvard, or simply carrying the surname "Buffet", doesn't automatically mean that someone's knowledgeable about the topic in question.

Fabs

bitcoin

Why can't they do it right for once?

Two answers to your question: 
1. They might not be trying to do what you think they're trying to do and they might be doing what they're trying to do effectively.
2. They don't understand it either, so they take the same approach people take to understanding everything else: talk to a couple of smart people on both sides.