Be greedy when others are fearful... - page 16.

Virtual miner

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Quote from: jaysabi on July 24, 2018, 03:38:47 PM

Quote

I will tell you the secret to getting rich on Wall Street. You try to be greedy when others are fearful. And you try to be fearful when others are greedy.
-Warren Buffet

This quote is constantly bandied about as justification to invest in Bitcoin, and especially now that there has been some nice price movement in the upward direction. But this Warren Buffet quote is only relevant with the proper context, which is that Warren Buffet only invests in things he has a fundamental understanding of and can quantifiably value. You can confidently be greedy when others are fearful if you have a sound investment thesis and are a fundamental value investor. This is how he turns his investments into home runs, he knows what he's buying and what it's worth and can weather the negative sentiment until the market learns what he already knows. This doesn't apply at all to a speculative investment like crypto. Following this advice willy-nilly is gonna get you burned because you're misunderstanding the intent and the application.

Don't not buy Bitcoin if that's what you want to do, but don't fool yourself into thinking you're following Warren Buffet's advice. Warren Buffet doesn't speculate, and if you're buying crypto, you're speculating.

I somewhat agree on this. Especially when others are trying to be greedy we should be very careful because the whales are speculating the market and they are waiting for the right opportunity to dump it. So we can face huge amount of losses. But I also think that Warren Buffet is not a cryptocurrency expert, though I agree on what he said. So we should not follow his statements blindly.

1Referee

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It's important to understand that experts or gurus in certain parts of an industry don't necessarily mean they are as knowledgeable in other industries.

Warren Buffett has done extremely well in his life, which I respect him for, but we shouldn't overexaggerate his investment skills.

Everything with fundamental value will keep going up, and the only thing he's doing is position himself in companies offering that fundamental value. You only need patience here, which is quite an easy task if you during the years scoop up dividends that you can reinvest directly to generate more income.

You know what he's doing when his favorite stocks are going down? He buys more because he knows that their value will go back up.

What do people here when Bitcoin is going down? They sell because they are too afraid to just let the market correct naturally.

Bitcoin has that fundamental value and we have enough years functioning as evidence. It doesn't matter what price you buy at, you'll profit later on anyway.

Ava Duvall

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Quote from: jackylion on July 24, 2018, 06:47:38 PM

In the encrypted market if you greed you will die, so set a clear clear goal so it will be better for you.

Exactly, you can lose everything very quickly. its better to have a clear and planned out strategy and stick to it. i think its the best way to lose as little as possible

kryptqnick

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Quote from: jaysabi on July 24, 2018, 03:38:47 PM

Quote

I will tell you the secret to getting rich on Wall Street. You try to be greedy when others are fearful. And you try to be fearful when others are greedy.
-Warren Buffet

This doesn't apply at all to a speculative investment like crypto. Following this advice willy-nilly is gonna get you burned because you're misunderstanding the intent and the application.
Warren Buffet doesn't speculate, and if you're buying crypto, you're speculating.

I disagree with you. As you wrote this post in economics section, we should be talking about bitcoin rather than the whole cryptocurrency market. We can't directly point at bitcoin or at what backs up its value. This doesn't mean, however, that the price is pure speculation. Bitcoin can be used as payment and as means to monetize online projects. If people believe in it, allow to use it and actually implement it into various platforms, its value is not less real than that of the gold. Bitcoin is not backed up by anything, but it can be the back up for other things. Moreover, as bitcoin represents blockchain technology, we can say that is has most of the value attributed to this technology, because it is not very serious to rip them apart.

asmat21

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Great quot, I like it!

Hydrogen

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Quote

I will tell you the secret to getting rich on Wall Street. You try to be greedy when others are fearful. And you try to be fearful when others are greedy.
-Warren Buffet

I don't know how I feel about that quotation.

Warren Buffett didn't invent that concept or mentality. Its a fundamental observation many investors, traders and businessman have repeated over the centuries. Some of the best investment opportunities were to be found during the crisis of 2008 when bank stocks were severely underpriced--before the bailout bill was announced. Bitcoin would have been a good investment around 2014 when silk road was closed and china cracked down on exchanges. The idea that opportunities abound under circumstances where people are fearful like the 2008 crisis or bitcoin's 2014-esque crash is a common theme throughout history.

AFAIK Buffett made his fortune utilizing long term HODL investment strategies based on market and business fundamentals. He wasn't someone to make spur of the moment deals or profit from times when the market was at its lowest and future prospects were bleak.

What happens when people are both greedy and fearful? That's a question which interests me. It could be something to be answer in order to accurately anticipate which direction markets and economies are headed.

bitcoinisbest

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Quote from: Kira_lapa on July 25, 2018, 04:13:40 AM

Totally agree with you. You can not keep a coin if you are not sure that the price will grow. You need to have immense knowledge in this field, be able to analyze the state of the market and the prospects of coins. Without this, it's better not to take chances. IMHO

Keep holding the coin if you are sure that it has a future and also on the dips keep buying so that you can make the best of the returns when the prices rise. May be short term the price may be in a down side but we all know how quickly the markers can be recovered.

Wendigo

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This has been said a million times already, but I will repeat it once more : if you buy the dump and sell the pump you will make money on the crypto exchanges long-term. Be greedy = you are buying coins while others are fearful and selling on the dump, be fearful = you are selling coins while others are greedy and buying on the pump. Believe it or not the market follows a pattern and if you are doing the opposite of what others are doing you will make money. Don't follow the sheep Wink

Kira_lapa

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Totally agree with you. You can not keep a coin if you are not sure that the price will grow. You need to have immense knowledge in this field, be able to analyze the state of the market and the prospects of coins. Without this, it's better not to take chances. IMHO

Lorence.xD

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Quote from: kenzruiz on July 25, 2018, 01:55:02 AM

Quote from: Slash61 on July 24, 2018, 06:46:00 PM

He is great to be the most respected person in the world, I just say that it is true then to be yourself, this world is so difficult it takes courage to be a very feared person and do not care about other people's conversation It is important that the business is as beautiful as now .
Investments everywhere are very reasonable because at the age of 11 Warrent Buffett has bought his first share with a very young business, his hard work is very good, as his knowledge and maturity grow heavily by buying farms and other stocks.

In this world we need to take advantage of all things, as early as now we need to invest for the future, many people hesitating in terms of investing because of fear, we need to think that everything have a consequences, on my opinion when you are expert or have a knowledge about investing money dont hesitate to invest, You need to bet, dont lose the opportunity trust yourself to be a succesful in the end.

We have different opinion on the above topic. Why be influence by one person on your investment from your hard earned money? Investment on Bitcoin is individual choices. You take all the consideration before investing, the risk of losing such investment, the market trends, price value on the said coin, all of this are just indicator for which one person should take into acct. before a final decision is made.

Idrisu

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Quote from: jaysabi on July 24, 2018, 03:38:47 PM

Quote

I will tell you the secret to getting rich on Wall Street. You try to be greedy when others are fearful. And you try to be fearful when others are greedy.
-Warren Buffet

This quote is constantly bandied about as justification to invest in Bitcoin, and especially now that there has been some nice price movement in the upward direction. But this Warren Buffet quote is only relevant with the proper context, which is that Warren Buffet only invests in things he has a fundamental understanding of and can quantifiably value. You can confidently be greedy when others are fearful if you have a sound investment thesis and are a fundamental value investor. This is how he turns his investments into home runs, he knows what he's buying and what it's worth and can weather the negative sentiment until the market learns what he already knows. This doesn't apply at all to a speculative investment like crypto. Following this advice willy-nilly is gonna get you burned because you're misunderstanding the intent and the application.

Don't not buy Bitcoin if that's what you want to do, but don't fool yourself into thinking you're following Warren Buffet's advice. Warren Buffet doesn't speculate, and if you're buying crypto, you're speculating.

People are greedy now and many are buying I millions of dollars are you advising us to sell now? I think selling now is to sell too cheap because this is a healthy bullish trend we are having for the first time of the year. We could actually sell now and buy back during the next corrections that will happen because of this pushed, however, it is better to hold.

nicster551

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Quote from: jaysabi on July 24, 2018, 03:38:47 PM

Quote

I will tell you the secret to getting rich on Wall Street. You try to be greedy when others are fearful. And you try to be fearful when others are greedy.
-Warren Buffet

This quote is constantly bandied about as justification to invest in Bitcoin, and especially now that there has been some nice price movement in the upward direction. But this Warren Buffet quote is only relevant with the proper context, which is that Warren Buffet only invests in things he has a fundamental understanding of and can quantifiably value. You can confidently be greedy when others are fearful if you have a sound investment thesis and are a fundamental value investor. This is how he turns his investments into home runs, he knows what he's buying and what it's worth and can weather the negative sentiment until the market learns what he already knows. This doesn't apply at all to a speculative investment like crypto. Following this advice willy-nilly is gonna get you burned because you're misunderstanding the intent and the application.

Don't not buy Bitcoin if that's what you want to do, but don't fool yourself into thinking you're following Warren Buffet's advice. Warren Buffet doesn't speculate, and if you're buying crypto, you're speculating.

That quote doesn't need to be followed by us. He may intend to mean something more than that. And I think sometimes it doesn't work on cryptocurrencies.

zakariajaki

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I agree with that, as a trade and economic principle, especially concerning a price, opportunity and opportunity to make people will continue to speculate whether it is related to the circumstances or time is made tense or vice versa, when the circumstances and conditions are also used in such a way to sale or purchase or economic practice, it makes sense when all can be achieved in addition to the carefulness and accuracy of experience when reading the situation and market conditions, be it on the stock exchange market or crypto, may be useful and successful for all of us

kenzruiz

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Quote from: Slash61 on July 24, 2018, 06:46:00 PM

He is great to be the most respected person in the world, I just say that it is true then to be yourself, this world is so difficult it takes courage to be a very feared person and do not care about other people's conversation It is important that the business is as beautiful as now .
Investments everywhere are very reasonable because at the age of 11 Warrent Buffett has bought his first share with a very young business, his hard work is very good, as his knowledge and maturity grow heavily by buying farms and other stocks.

In this world we need to take advantage of all things, as early as now we need to invest for the future, many people hesitating in terms of investing because of fear, we need to think that everything have a consequences, on my opinion when you are expert or have a knowledge about investing money dont hesitate to invest, You need to bet, dont lose the opportunity trust yourself to be a succesful in the end.

hatshepsut93

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So, Warren Buffet doesn't understand Bitcoin and because of it he doesn't invest in it, but at the same time he calls it "rat poison" and says that people will lose money. How does this make any sense, how can he make negative prediction if he doesn't understand it? It really makes him look stupid, and maybe in some 10 or 20 years he'll be remembered not as the greatest investor in history, but as the guy who dismissed Bitcoin when it was 100 times cheaper. It doesn't matter if the market is crazy and investors are noobs, in the end of the day Bitcoin's price will be determined by its fundamentals, and I think most of us here agree that they are strong.

zanezane

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Quote from: gurang on July 24, 2018, 11:08:03 PM

Quote from: richardsNY on July 24, 2018, 04:41:23 PM

Warren Buffett doesn't believe in gold either, and that while gold has a proven track record of thousands of years. The thing with Buffett is that he likes to invest in things he can generate revenue from in form of dividends or interest. Bitcoin obviously doesn't produce anything in that way. In order to earn from crypto is to have a fundamentally strong POS coin with low annual inflation, but where are they? I haven't seen one single POS coin that maintained its value -- they all crashed hard and will keep crashing hard because they don't know shit. Ethereum plans to become somewhat of a POS coin, so we'll see how that goes....

Be greedy when others are afraid? when fearful of someone you do not care and do not imitate so that you do not lose everything and do not be greedy for all time because it does not help

Seems some people here didn't understand what OP quoted. Well as far as I know he meant be a greedy when everyone is afraid because when everyone is selling in panic we can take this opportunity to buy more and let's be greedy and sell when everyone is afraid. This mentality should be follow within this community so we can all be well.

ambisyon

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I don't think people need to be greedy when getting involved with cryptocurrency investment and signature bounty campaigns. I believe that people can still manage to earn profit following the normal procedure and for some being fearful that their investment might be gone wherein the tend to sell their btc during bear market. For some people being greedy in joining signature bitcoin talk where they do multiple accounts in in athe ICO bounty campaigns.

gurang

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Quote from: richardsNY on July 24, 2018, 04:41:23 PM

Warren Buffett doesn't believe in gold either, and that while gold has a proven track record of thousands of years. The thing with Buffett is that he likes to invest in things he can generate revenue from in form of dividends or interest. Bitcoin obviously doesn't produce anything in that way. In order to earn from crypto is to have a fundamentally strong POS coin with low annual inflation, but where are they? I haven't seen one single POS coin that maintained its value -- they all crashed hard and will keep crashing hard because they don't know shit. Ethereum plans to become somewhat of a POS coin, so we'll see how that goes....

Be greedy when others are afraid? when fearful of someone you do not care and do not imitate so that you do not lose everything and do not be greedy for all time because it does not help

wahyu wida

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Quote from: Shamie1002 on July 24, 2018, 10:29:05 PM

I think that mentality would ruin cryptocurrencies. Even if we have control of our finances, greediness of others will take ours and I think that even in crypto, no investments are safe. Values are moving and that gives us no assured amount. I think people see crypto as game in which if you do not win, you lose.
That saddens me a bit.

greed will destroy everything for ourselves or others, in trading. greed robs our common sense of doing something stupid. if it is done by many people, it will damage the market

Shamie1002

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I think that mentality would ruin cryptocurrencies. Even if we have control of our finances, greediness of others will take ours and I think that even in crypto, no investments are safe. Values are moving and that gives us no assured amount. I think people see crypto as game in which if you do not win, you lose.
That saddens me a bit.

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