Bitcoin is not a currency? - page 27.

kpcian

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Quote from: nix_7878 on December 26, 2017, 10:24:47 PM

I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years".

Is he a hater of bitcoin? while other big names appreciate the bitcoin.

Your thoughts?

It's totally a personal perception of him so it doesn't make any big sense. not all of the people are same and even their perception level is not same. it varies must.we believe in Bitcoin because of we know it properly and we assume that Bitcoin will last for a long time.
if it doesn't look a currency then why a lot of countries already approved it a payment method? I know Bitcoin is not an up to mark currency but in the coming future Bitcoin will be a proper currency.

canadian1980

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Bitcoin is a global currency and is reaching all the corners of the world. No one can deny this fact any more. There was a time when people were not believing in crypto currency but now there is a time coming when it will be ruling the world trades.

arrmia11

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In the current situation of bitcoin, technically yes you cannot call it as a currency because of the long process or transactions that it had plus there are some places that doesn't accept bitcoin as a mode of payment.

Hirameki

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Actually he is right with what he said, bitcoin does not meet requirements to be a "local currency" but as digital currency. As long people are using it to buy goods and services, for me it still a currency.

pulsefirekelly

newbie

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while reading this text. i do some research on what truly currency means
so here it is currency is a system of money used in each of the countries and an item that is generally accepted or in use by any means
so if we are to understand how vauge currency is bitcoin can classify as a currency
why ?
let the countries be the internet world
and the currency used in a specific country be bitcoin

we can pay/buy something using bitcoin thru online transaction
thus, this prove that bitcoin can be somehow called currency

Siopao

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Warren Buffet is a successful businessman and have many advices when it comes to handling money. Everyone is entitled with their own opinions and it's the same thing in cryptoworld. Some may not believe with its existence and its ability to help people to be financially independent. Let us continue doing our crypto engagement and help the industry to become even more successful.

ismelda_ita

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Quote from: nix_7878 on December 26, 2017, 10:24:47 PM

I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years".

Is he a hater of bitcoin? while other big names appreciate the bitcoin.

Your thoughts?

I think Warren Buffett is a banker who denied the existence of bitcoin. what he said in the video is true. because the highly fluctuating bitcoin price makes many companies do not accept bitcoin as their payment. and I do not believe that bitcoin lasts only 20 years. because I'm sure the demand will be more when bitcoin has reached the limit and the price is more expensive.

Harlot

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Warren Buffet is not a hater is he is just simply stating facts. And it is true on how businesses or establishments are accepting Bitcoin but yet they still price Bitcoin based on its U.S. Dollar value at which point they simply change the quantity needed in Bitcoin for you in order to buy their certain product or services. Warren Buffet is a respected man and has been well known for his investment and skills on growing his capital. I too is not seeing Bitcoin as a currency right now because of its ridiculous network fees, I really don't like how the buyer will shoulder and additional cost when paying.

btccointalk

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I think he is a hater of bitcoin who don't like bitcoin.His statements doesn't matter when the fact is that bitcoin is getting stronger day by day and is rising really high.

BTCeminjas

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Quote from: nix_7878 on December 26, 2017, 10:24:47 PM

I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years".

Is he a hater of bitcoin? while other big names appreciate the bitcoin.

Your thoughts?

Maybe (Warren Buffett) was gone around 10 to 20 years not bitcoin, every one of us have different presumption on bitcoin some of them are hater and those need income love who love bitcoin. Never mind that old man maybe he didn't need money he is rich enough that's why he hate bitcoin.
Yes other big names who appreciated bitcoin because they know bitcoin have big opportunity to help the economical growth to people who unemployed or to fulfill the daily needs of the users.
Perhaps he had a business and he think bitcoin is an obstacle to achieve his success.

pooya87

legendary

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people like Warren Buffet are not experts in technology field including bitcoin and cryptocurrencies. what they are experts in is finances, investment and stuff like that. which means everything they say, they are saying according to their expertise.

this means when Warren Buffet or the likes of him are talking about bitcoin, they have invested in it or want to buy in the dip or want it to go up so they make profit when they talk positively like John McAfee.
but they still have little understanding of bitcoin, even if they are supporting it.

suvo05

sr. member

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Quote from: nix_7878 on December 26, 2017, 10:24:47 PM

I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years".

Is he a hater of bitcoin? while other big names appreciate the bitcoin.

Your thoughts?

While everyone is busy of making their own statement bitcoin is getting stronger and more popular. The people who are with the flow is making profit and who are against it, spreading rumours are watching people making money. Now it is our choice to here those kind of people or not.

taiwww

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Satoshi Nakamoto purpose of introducing bitcoin is to eliminate the middlemen of any trade. To free people from banks who are manipulating and detecting them from time to time. Bitcoin is a currency, but its operations needs some infrastructure like internet, mobile wallet etc. This setup is not possible in all countries even not in all parts of the country. This has restricted bicoin as a currency. Due to limited supply and growing demand bitcoin`s price is increasing rapidly, as a result more and more investors are getting attracted towards it and making it popular mode of investment.

alan2here

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WorkAsPro

Quote from: nix_7878 on December 26, 2017, 10:24:47 PM

I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years".

Is he a hater of bitcoin? while other big names appreciate the bitcoin.

Your thoughts?

Actually he is very right at this point but I am sure he is still lacking in knowledge of Bitcoin because Bitcoin has grown tremendously this year and many of the major countries in the world have legalized Bitcoin and can see Bitcoin as personal property

Scor1937

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Warren Buffet is really a wise man and even i see many youtube videos by him. He truely gives us the importance of money and huge definations on the inlet and outlet of money. He saw bitcoins that way and his thoughts were that but most of the bitcoiners won't trust/follow it. But yes, i do obey warren buffet as well.

Mandoy

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Aurox

Quote from: nix_7878 on December 26, 2017, 10:24:47 PM

I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years".

Is he a hater of bitcoin? while other big names appreciate the bitcoin.

Your thoughts?

In some points he is right but he is right only in the term that bitcoin is not a currency. Bitcoin is not a currency since it has a high transaction fee and a long confirmation of transaction that would make it hard to be accepted in a coffee shop. But maybe in the future when there is a mass adoption of bitcoin then we can call bitcoin a currency. It is just a matter of time and in 5 to 10 years bitcoin will be accepted by the majority of the population.

Gibreil

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Quote from: nix_7878 on December 26, 2017, 10:24:47 PM

I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years".

Is he a hater of bitcoin? while other big names appreciate the bitcoin.

Your thoughts?

We have our own perceptions about anything, we have diversity of thinking and the opinion of one may lead to hoax or success. I doubt when he said, bitcoin will just exist 10 to 20 years. How he would know it? Is he a foreteller or storyteller? We could not guess the future based on what is happening right now but the point is, we must appreciate every second that bitcoin exist and helps the people to rise up from poverty. No matter what happens, I assure this that bitcoin remarks the history of currency evolution.

farhaan

sr. member

Activity: 392

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Don't know whether buffett would be alive after twenty years,but bitcoin would still exist.Bitcoin has proved its potential already and it is no more in need of any one's certification.Some praise bitcoin while some other predict that bitcoin would die.We should just avoid giving importance to such people's stand about bitcoin.More over,he actually don't know about technology and stays away from such companies.

Kez1817

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Merit: 17

www.cd3d.app

Maybe Mr.Warren Buffet does not like bitcoin and he try to discourage those people who are bitcoin believer and maybe his difinition of currency is that toucheable,he can hold and touch it like a paper money.

1bitcoinsnet

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Just look at the market cap of all crypto

It's almost 1 TRILLION

Then look how every exchange uses BTC to value all crypto

BTC is to all crypto what the USD used to be to Fiat

It is the gold standard in the new currency system

When all currencies in crypto are valued against BTC that proves BTC is the new USD

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