Topic: Big FUD attack by Warren Buffet, Bill Gates and Charlie Munger (Read 413 times)

Agree with you. Bitcoin is pretty safe. I think the people shouldn't pay attention to the FUD attacks against the crypto currencies. Who knows, may be these rich mans buy some coins right now, and the FUD is just a background for these deals. Obviously, they missed a skyrocketing of Bitcoin and regret about it.

In my opinion, it is wrong to say that Bitcoin has no a product. The blockchain of BTC has been created using a huge amount of electricity. It is almost impossible to recreate something similar.

Since from the beginning warrent buffet ,bill gates and charlie munger is cretics about cryptocurrency and they dont like much the ways of digital currency,because in my own opinion,cryptocurrency investment is a big rival of there own investment  and they dont want accept digital investment is better than there own creating investment,thats why they create fud and and said that bitcoin is bubbles.

These so called attacks from these individuals are just their opinion and they are not afraid of loosing their power and money as this market is not created to swallow anyone who is not using this market, it is meant to be a market that would make things easier for people and nothing else, everyone has the choice not to invest in it and the people who are interested and see the benefit will invest in it.

One thing that is certain is that Munger in absolutely no way is sad that he didn't buy crypto. To even suggest things like this is to trumpet your ignorance about the topic to the world. For anyone who knows anything about Munger and Buffet, they know that both of these investors are value-oriented investors who have made all their money buying companies that are undervalued by the market and scaling them so that they become more valuable and profitable. They compound the value they created by buying more undervalued companies and doing the same thing. This has created extraordinary returns over the decades they have been doing this. Now in contrast, why might a value investor object to about Bitcoin? Easily the fact that it produces zero income and is only worth what everyone else agrees to pay for it. This is anathema to their approach. If you've made some money in Bitcoin, the only way you're going to make more money is if other people continue to agree to pay higher prices for it. Once that stops happening, the price crashes. When you own actual companies, it doesn't matter what other people think they're worth because they produce actual income. This is the advantage real investing has over speculating on crypto.

I noticed some of Warren Buffet's follower trying to tell him how wrong he is. What do we expect to hear from these old men in the first place where manipulation and monopoly has helped them to where they are ?

Asides that, they are smart enough to talk rubbish and admit it at the end that they really did say rubbish since they have been able to buy in enough at the dip. I only pity those who listen to their trash and act on them, only to come crying when bitcoin hits $1m in the nearest future and telling us their history on how they missed to buy now.

OP must be right. It is more like a threat to them and they see it more like, if this thing ends up succeeding, a lot is going to end up disrupted. When the big dudes are condemning it, then we should know better that we should be buying more than listening to them. All they want is to tap into the digital gold at the best low price possible since they could not see the future from the onset buy into it. Those who are smart will always know this should be the time to be accumulating.

Some do, some want to buy more at a lower price but the truth is that the best is still coming and that is what everyone who is smart to read the deception on these old men lips should know and the reason why they should be stashing up now. What they always do is to trash bitcoin so the weak hands can pave way for them to get in at better and lower price, and when they are done, they come back to the national TV to tell us how they were wrong about bitcoin. Didn't Uncle Jamie Dimmon do just that?

Eh, that's very debatable. I think anyone prominent coming out and saying a negative opinion about Bitcoin or any crypto for that matter ends up hitting the price a decent amount. That's just because people think: "Oh, this smart investor who's made so much money doesn't support my investment? I should pull out right now!" This ends up in just a flurry of people pulling their money out. Then there's more bad news about Bitcoin and a cycle continues until it's finally broken with a stroke of good luck or a good happening. I think there will always be some kind of impact that these high level investors have through their words. Who knows, maybe they're whales and we don't know it.

The fact still remains that bitcoin has come to stay, firing a negative shot at bitcoin by Warren buffet and Bill Gate wouldn't have any impact on the price any longer bitcoin has surmounted many challenges and crossed many hurdles thus coming out  stronger despite all the bans, regulations and clamped down on exchanges I believed the underlying technology behind its technology makes it second to none.

It seems that there are just people who want to either make fun or just make other people get confuse. There are lots of fake news today so it is better to dig in to that information before jumping into a conclusion.

In some scenario,, they have forgotten that people are getting smarter and wiser by the day. If bitcoin were to be long gone with FUDs, we should even have nothing left or probably we would all be bag holding right now.

They know that, they are not happy they missed the show; they are scared they are going to miss out but they do not want to be buying at a huge price which they will still have to pay for it eventually. The end of the cinema is going to resort to them getting in when they are sure there is no more room to go down and the weak hands crying wolf based on how they have been deceived.

They are too big to care about spreading FUD about bitcoins. For Warren Buffet it makes little sense as he is in stocks.

There you go, they are teaming up together but still they can't even shake the Bitcoin society and it's supporters. Now more and more people will become scared to buy but then the people who are already knew this will just laugh at them. They are afraid to lose their power and money now and using all the might they can.

I do believe that blockchain and cryptocurrencies is the future base on the ways this people are attacking it.  I have been thinking on how one can actually benefits from this market before most of this financial mogu came into it and trying to control it and the only way is for one to invest in it and it future.

Bill was very optimistic in the start about the future of Bitcoin and has had even some money invested in the technology. Buffet is a long term investor and a right guy for investment in Bitcoin in long run but he thinks differently. Anyhow, the Bitcoin network is growing more than fast and the related technologies linked to Bitcoin are also expanding which will make Bitcoin even more easy and profitable to hold and use. So no worries. This is a good sing for us.

I fully agree with you: if you do not already have bitcoin and other crypto currencies, then in the near future you will get a good chance to buy them at good prices.
The "old whales" are simply raging because their time has passed. In their place came the new Whales, with new technologies. It's time for Old Whales to come to terms and give way.

Sometimes am tempted to say those guys still belong to the past even though I personally admire the way they have excelled in business and technology.They still have some believes of the 18th and 19th centuries but they should realize that the information age is different from industrial age and should reason as such and stop the old dogma.

They all repeatedly attacked bitcoin many times warren buffet bill gates i dont think market will react to such statements even traders are much aware of bitcoin growth and future

I think, secretly those richy guys are investing in everything about cryptocurrency, bitcoin, ethereum, ICOs and etc.

Just like how McAfee is predicting that bitcoin will rise to $1 million within 2-3 years, guaranteed, I'd treat what Gates and Warren Buffett are saying with the same grain of salt. Listen to their points, and make your own judgment.

Charlie Munger has even went to say that trading bitcoins is the same as harvesting baby brains, I mean what the hell?

If Buffett and Gates wants to be bearish on bitcoin, let them be and have their opinion, or spread FUD on the market, w/e. Bitcoin doesn't need their support (although it'll definitely be appreciated) to succeed as a decentralised currency. People have called bitcoin a ponzi in the past, so this is nothing new.

It is because they failed to understand the value of something with scarcity and mass support. If something that has utility and significant importance in peoples daily lives convenience, even if bitcoin doesn't give you dividends, still the value of bitcoin will still be backed by its network trust in it. That is the new age of putting a value, we can now put value in anything digital.

If it has to take the newbies falling for all the FUD so that they can eventually learn then we are in for a big deal of trouble because due to their actions of seeking after every FUD, the value of bitcoins will just keep dropping.

Responding to statements like this is a waste of time because it does not change anything and the attacks will keep on coming. Whether bitcoin continues to blossom or be in doom, they will always have something to say. If price is growing up, they will make comments about how something like that happened in the past and how it eventually ended while during the trying times like this, they talk about how their predictions are coming through. It is then safe to say that they say things for them to always be in the news and nothing else.

However, there is a subject of concern which is "I don't have to believe in a thing to make money out of it" I don't sit behind the TV to watch football but I place my bets on it when the time permits which means all of this comment could mean a way to expand their wealth rather than being threatened by it like Op has alluded.

Just because you don't agree with something doesn't make it FUD. Buffet's criticisms of Bitcoin are completely warranted. Buffet's problem with Bitcoin is it's not a productive asset. It doesn't produce income or any return, and it's only worth what you can sell it to someone else for, who also will only realize a return when they can sell it again to someone else for an even higher price. That's Buffet's same criticism of gold. Speculative assets don't create value, they only represent the value other people put on it. By comparison, productive assets have inherent value. Also, Bitcoin's price rise will affect Buffet's empire in absolutely zero ways. Berkshire is such a diverse business (of real investments that produce real income, not just a collection of assets that do nothing) that anyone trying to sell the story of Buffet being scared by Bitcoin doesn't understand what actual investing is, or how Buffet became a billionaire. The fact that you're so desperate not to have anyone agree with Buffet further makes the point that you can't make any money with Bitcoin unless there are other people who agree with your idea of what Bitcoin is worth. Lucky people get rich investing in speculative assets. Real investors grow their wealth through the accumulation of productive assets. Don't confuse what you're doing with anything other than wishing upon a star.

So what do you suggest? We cant just make them learn every bit of the FUD and noobs always fall for it anyway. They cant learn that unless and until they go through it and fall for all the FUD's.

And speaking about these people, I dont think they has got to do anything with the FUD's. What I see up in here is misleading info and they has got no interest in the stuff like that. They just speak what they feel about the crypto currencies and people make it FUD. 

What would you expect them to say? to support something that aims to destroy their completely monopoly in some of the economics sections?
Monopoly giant doesn't want something that compeltely chances the power levels, they don't want to chance a thing at all because they want to keep having a control over the economics system.
One of the things that aim bitcoin is that those strong people will never have any obligation to accept bitcoin or support it.

Bitcoin is not just "a technology". You can't isolate Bitcoin as "a technology" without having in mind what it really means and what it does to the status quo. When Bitcoin starts threatening the US as the global unit of value, anyone holding assets that are correlated to the US being the global unit of value will feel threatened, and all of these 3's empires rely on that being the case.

When your entire portfolio is very dependent on the US being the big gangster of the world, you aren't going to like the technology that allows a new predator in town, and that's Bitcoin. At that point you either diversify your portfolio (by owning Bitcoin) or continue stubborn on it being a fraud, a scam, or whatever else. So what I predict is further FUDding and attacks from the fiat empires, since the fundamentals aren't going to change, which is what makes it valuable.

Yes . Don't trust the fake news about the bitcoin in news and website.Some people are spreading fake news about bitcoin,to make the new investor panic.If you get any news about bitcoin and crypto currency,cross verify the details.In a day ,you can get clear the fake news.

Munger is a  professional investor in fiat-related projects. No doubt he is just sad he didn't buy btc at the low prices long before and is now simply afraid to lose this precious funds. Bill Gates is right about the fact of bitcoin not having any real product. It's just implying the attitude to btc as to property or some papers, not the means of payment. And besides, there are people who are to be respected hat have quite the opposite opinions. I'm talking about the Winklevoss brothers or George Soros (who was previously against btc, but one of the companies he sponsored showed great interest in cryptos).

I'm surprised that there are still people who listen to them. Why Bill Gates became against Bitcoin? A few years ago he was positive about future of cryptocurrencies and now he's trying to blame them for everything what's bad on the world. We should ban cryptocurrencies because you can buy illegal things with them? Oh please, don't be silly. More illegal things are bought with fiats every day. He's insane. What a shame that people listen to those who change their mind often. I wouldn't be surprised if he actually bought the dip.

We could understand that Buffett lacks knowledge about new technologies and that's why he is always against bitcoin.But I could not understand that why bil gates too speaks negatively about bitcoin.Persons of such high popularity should think twice before they speakas more investors respect their words.May be bill gates might have some personal interests in influencing bitcoin price negatively.

Youre right here mate,this Fud's will make the market shake and will bring down prices for a good investors this is what we've waiting for since bull market is need to happen.i am quite sure that i can add some coins on mine and will have another funds on my folio.

For those weak hands this will bring you another scary moment,but for us this is a blessings

Many pitfalls when investing in bitcoin, bitcoin enemies are not just a single agency like the government, but those who ruin their business will be crushed by bitcoin slowly in many ways they will give an adverse statement to someone who invests in bitcoin especially for noobs who do not resistant when bitcoin prices hanging up.

Many warren buffet statements that discredited cryptocurrency, he considers bitcoin as a mirage and everyone should stay away from it. The statement strongly suggests that he is afraid that his business has been destroyed by cryptocurrency. I will always believe in the time when everyone will use cryptocurrency and those who pout the cryptocurrency with negative will see with pitiful faces.

Those guys you mentioned are not Gods so there in no need to trust their words.

The millionaires who are attacking the bitcoin knows the potential level of bitcoin this might can bring the equality to the world by decetralised money system.But I don't think the rich people wants this to happen so they can do as much as they can to make bitcoin dump so the investors need to trust on bitcoin and keep investing on them.

Either he doesn't fully understand Bitcoin or he's spreading FUD(Fear of Uncertainty and Doubt) to possibly buy the dips

I do respect Buffet and Gates, but that does not mean I just humbly follow all their pieces of advice. Well, There is certainly advice we should take from both great peoples, but my thought about cryptocurrencies is fixed and final.

The other problems are the newcomers who haven't yet built a comprehensive understanding about cryptocurrencies, so they are shaken when hearing those kinds of news.

It has been like that years ago, and it's still like that today.

Charlie munger years ago said that Bitcoin was rat poison, and then he updated his statement to match current prices, he said that it's more expensive rat poison now, which is actually a very good joke (while it's not a joke).

I wonder what he will consider Bitcoin to be once it smashes through the $100,000 mark. He definitely has to come up with something different than *even more expensive rat poison*.

On the other hand, it may very well be that he won't ever be seeing Bitcoin reach $100,000 in the coming years. He's 94 years of age and still thinks he's needed in a time where his input is no longer unbiased.

I get it that one doesn't have to like something that others do like, but just keep your mouth shut. Calling it names while Bitcoin keeps growing only makes him look worse. It has an opposite effect.

Yeah no. It is not respect. It is what people want. And media takes the side of the people, even though they do all that manipulation shit.
That is so stupid. What makes you think that there are only "hodlers" and noobs? For all you know it is the same person who is buying and selling the same amount of bitcoin through different addresses. There are infinite number of possibilities of what can happen to the price and how can it happen.

Whatever these rich people are saying, they are saying it out of spite, they are saying only what they know about which is not very much. They haven't done a very good research personally on that. That's why the FUD.

With that said, all those billionaires who are against bitcoin and keep on attacking the ecosystem has short term effect. And the more they attack it, the more people gets interested and their FUD lost its traction.

And I also speculate that they are spreading negative news because they are stock guy, they don't stock investor to shift their funds to crypto because their portfolio will definitely affected.

I think that's the main reason why they keep on saying things that will drastically impact our market, if our price goes down, chances are, crypto investors are moving their funds across stocks which is very advantageous to them.

I don't understand these sudden attacks. Is likely that these billionaire may be owing some bitcoins secretly and want to owe more through FUDs? Do they really care about bitcoin investors as they may be sounding? Is there a way bitcoin is threatening the stability of their businesses? Anyway, the news will died out soon like any other FUD so it's another time to buy. It's pretty good buying the dips.

PS: Why does Bill Gate say because bitcoin does not produce anything, it is not worthy to be an asset? What about the services rendered to users of bitcoin in terms of sending payment in the shortest possible time? What do banks produce to earn as much as they earn? Aren't banks service providers just like bitcoin?

I don't think this little "flash crash" was done by those statements. Yes those are well known figures, and their opinion matter to a lot of people, but they all know what already happened in the past, when Buffet talk trash about BTC. It crashed only to get new heights in the future. I think people already know what they think about bitcoin, so those who wanted to sell based on their opinion already did so. Their direct influence over crypto is probably gone now in my opinion.

I do not think it's an organized attack. A number of famous people denounce crypto pretty often. Time will show who was right.

Lol. What else is new? This happens every damn time in this industry. Specially on the most important moments. I believe that this will not shake off people who already know better and have experienced a lot already in this industry. I am even more eager to buy when people want to sell and sell when mostly want to buy. knowledge is power in this industry, research is important.

Let them be. They have a conflict of interest with bitcoin, that is why they are fuding, also they dont understand it at all, as they dont understand anything with technology in it.

I don't even know why a lot of people here think that Warren Buffet is a FUdster when we all know that Buffet's classic textbook style investing does not fit well on cryptocurrency trading. Buffet's comments towards Bitcoin are always kept neutral. Only some of the members here thinks that his opinions are leaning towards to a negative one.

I really doubt if that’s the case because if they really had some money into bitcoins, they wouldn’t be bashing it so much. There is no way that any person however rich would want their investment to fail.

Warren Buffet is 87 years old and he was born in those times when nobody was thinking about computers and worldwide web as a reality.
So why would we rely on the judgment of this cracked individual who has made his private wealth by organizing panic and skillfully manipulating the people's emotions?
Gates' motives are a bit different - it seems to me that he totally hates the very idea of decentralization since his Microsoft used to be a monopoly for a rather long time.

I think that all the big guys like Bill Gates, Donald Trump and other rich people already have their bitcoin safe somewhere around =)

I do not only respect Warren Buffet as an investor but also follow his principles in investing. However, it doesn't mean that he is correct in every case. In the recent Annual General Meeting, the partner of Warren Buffett publicly said that Warren Buffet is crazy or he is still learning (in context of acquiring 5% share capital in Apple). The same thing about other individuals, they are great but that doesn't mean that they are right in every case.

Everyone including Galileo, Wright brothers, Alexander Bell, Tim Burners-Lee were mocked in the initial phase of development and the same thing is happening with cryptocurrencies and blockchain. I'm not saying that blockchain and cryptocurrency is will surely bring the transformation but at least there is hope and we should not discourage these efforts. The same thing is happening with the artificial intelligence industry, there is a hope that things will be better down the road with the help of these innovations.

Bill and his old pal, Buffet think they are FUDing. But in the real sense we Bitcoin veterans know they are FOMOing. Only noobs get shaken and show their weak hands at news like this. It isn't as if the news didn't shake Bitcoin a bit. It did. But that is just all there is to it. It won't make it dip like we saw a few weeks ago. Cryptocurrency is bigger than any individual. The Chinese did their worse, yet Bitcoin survived it. Sure, China is a bigger institution than these old men.

I agree that when the world's powerful are talking down about Bitcoin it's a good thing for us.

But you're misappropriating Warren Buffet's, Charlie Munger's, and Bill Gates' relationship to bitcoin. Bitcoin's success could help these guys. There is certainly no business venture of these three that can be threatened by Bitcoin. Buffet and Munger aren't bank owners, they're investment heroes. They serve as the ultimate endorsement of any investment - when they start talking positively about Bitcoin, we'll have entered the final stage of adoption. And Gates', obviously, benefits from technological advancement.

Buffet and Munger are talking poorly about Bitcoin because they want to keep "regular investors" away from the lure of a very risky investment. They don't want people to lose all their money because they're too uneducated to realize what they're doing. That's all. Bitcoin is very risky...it's also the king of the next technological revolution.


Yeah man, Bitcoin IS working. The financial news sites were joking about bitcoin a year ago, now they provide daily or weekly updates on it's price moves. That's an incredible shift in respect.

This was a good response

https://www.youtube.com/watch?v=NBVDqAHQ4-M

Looks like Bitcoin is working: The people whose empires depend on Bitcoin not going up, are scared and have to show up national television to trash it.

This is a good indicator to start looking for an entry point if you haven't already. Noobs will get shaken out of the market with fake news like these, and smart money will jump in when the opportunity is right (that's once all the noobs have sold and there's only hodlers).

Remember: Bitcoin IS working. 21 million coins, unhackable, uncensorable, unconfiscable. What anyone says on any TV or website is irrelevant, only these fundamentals matter.