Bitcoin loses 10% of its value after being called "rat poison" by Warren Buffett

gabmen

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Quote from: thomas daniel on May 23, 2018, 07:15:48 AM

Warren Buffett is always opposed to Bitcoin and he emphasized that digital money does not bring anything beyond speculation. Even, the legendary investor warned that a "bad ending" would come with Bitcoin and other types of money. I think this is a subjective assessment of his opinion and he should pay more attention to his speech.

Well i don't think buffet's statement caused btc to go below 9k towards this level. I mean, the guy has made several statement's against crypto before so i think people don't really take him that seriously anymore same as jamie dimon and roger ver.

thomas daniel

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Warren Buffett is always opposed to Bitcoin and he emphasized that digital money does not bring anything beyond speculation. Even, the legendary investor warned that a "bad ending" would come with Bitcoin and other types of money. I think this is a subjective assessment of his opinion and he should pay more attention to his speech.

STT

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Anyone who follows markets is familar with this dynamic to news. A price moves and the people writing stories come up with a reason why, only like 5 or 10% of the effect is likely the actual basis for the movement.

Most of a price move is related to traders who borrow money one day and must pay it back the next. Hot Money is what its called, the price going down every Friday before the weekend is a normal thing for example.
Bitcoin does trade 24/7 but banks and various employees wont be trading it at that point. If you want a proper estimate use weekly or at least daily bars to get a good perspective.

Warren is not a fan of technology especially and will not call out the failures of US dollar, so his views are quite predictable.

buwaytress

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Quote from: Pursuer on May 21, 2018, 09:28:00 AM

on one hand it is understandable that people like Warren Buffet don't understand bitcoin and don't see it as an investment. being ~~old~~ ancient apart, he considered companies that are giving some product or service as investment not a currency. so he probably sees Forex the same way too.

on the other hand calling it things such as "rat poison" and saying "it won't end well" is just silly because we all know that bitcoin is the best technology that could have happen in economy field and also we can see that all around the world people and the government are adopting it with open arms.

If you're even more unforgiving as I can sometimes be when it comes to guys and their sweeping statements like these, you might even say that these dinosaurs know precisely what Bitcoin is, and have always understood its ideals and its overarching potentials. Which is why they fear it and can sense that their end is nigh - even if they won't live to see it, the natural instinct for their empire to thrive long after they've gone will require them to attack Bitcoin as they should, for the threat it poses to their very way of life.

They want history to see them as the champions they've begun to believe they are, and don't want to be remembered as part of a failed institution that consistently brings countries and lives to ruin.

Pursuer

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Where is my ring of blades...

on one hand it is understandable that people like Warren Buffet don't understand bitcoin and don't see it as an investment. being ~~old~~ ancient apart, he considered companies that are giving some product or service as investment not a currency. so he probably sees Forex the same way too.

on the other hand calling it things such as "rat poison" and saying "it won't end well" is just silly because we all know that bitcoin is the best technology that could have happen in economy field and also we can see that all around the world people and the government are adopting it with open arms.

ivrynx

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I think that he already had forgotten that once you invest on a high volatile market, prices would go up or down by 10%, but what important is that your investment will recover and that it won't die, i think he is saying this because his stocks are also being affected by cryptocurrencies, because once people will shift from investing in the stock market and to cryptocurrency the value of his stocks will fall or it might remain stagnant, since he is prominent figure in investing people still follow him, I think he got threatened because traditional investors had seen great opportunty in the crypto market, since they can start where warren buffet had started and that is from scratch, unlike in the stock market the companies that have great potential are already costly and companies are doing insider trading unlike in crypto currency.

buwaytress

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First off, Bitcoin didn't lose 10% of its value after some old guy calls it some random label. You think if Buffett one days says Apple is shit that its shares will even shed 1 cent? Besides, if he had that intended effect, he could easily just do Jamie Dimon and crap on Bitcoin every time he wants to buy it.

On a less serious note... seeing as rat poison is actually an ingredient common in several popular comestibles/consumables such as tobacco, recreational drugs and even "medicinal", I suppose one shouldn't really be afraid of these things. We're all taking some sort of poison. I'd say listening to irrelevant figures like Buffett is a form of poisoning.

palle11

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The big bourgeois understand how to manipulate the market by just rendering statement in the public arena or media and that will either make or destroy the process and progress of the market.

PG13

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Quote from: JamescrypTrader on May 19, 2018, 03:38:06 PM

I am agreed with @Pooya87. Price of btc has changed a lot what you are saying about. You should follow the content properly before posting. However, I think price went down a bit after being commented by Warren Buffett. But it will recover soon, I think .

This is not new to us. Why is Mr. Buffett keep attacking bitcoin technology? Is he planning to enter or make his own platform?
Anyway, the price went down after his statement was not as big that can shaken the crypto and there's so many factors that can affect the bitcoin price.

chickenado

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Quote from: freedom_finance on May 18, 2018, 10:28:54 PM

Bitcoin loses nearly 10% of its value after being called "rat poison" by Warren Buffett.
Ending the US session on May 5, Bitcoin closed at over $ 10,000 per coin. However, only on 6/5, the currency was blown 6% value before losing 2% in May 7th session. Currently, Bitcoin prices are trading at $ 9,300. Bitcoin's bad slump comes after the annual meeting of legendary investor Warren Buffett. Reply to CNBC, CEO of Berkshire Hathaway for Bitcoin with "rat poison."
So what do you think?

I think the price went down prior to your post..We have better days and bad day and this day is just another of those bad days but im still pretty positive the price will improve soon so I just hold and wait its what i have always do.

Meysa_richa

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It has happened and I believe that the words of the big investors are very influential on the bitcoin price and I hope the big investors make a good word about bitcoin so the bitcoin price can go back up well.

username134

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AWGTkhebkvXB3aDfV999FECbsMTQSAETb7

What he said is just his opinion, an opinion from one person who may be successful and influential but still one person who may commit mistakes and do wrong judgements. From the title of the article "Warren Buffett says bitcoin is 'rat poison'", well rat poison could only kill rats but it could also harm humans if ingested accidentally. How Bitcoin can be viewed depends from each person, for me Bitcoin is a new technology and an evolution of the money system but of course everyone will accept it as some people aren't willing to accept changes and just cling to what they are used to.

sakahayang

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Quote from: budismile on May 19, 2018, 06:54:49 PM

Quote from: freedom_finance on May 18, 2018, 10:28:54 PM

Bitcoin loses nearly 10% of its value after being called "rat poison" by Warren Buffett.
Ending the US session on May 5, Bitcoin closed at over $ 10,000 per coin. However, only on 6/5, the currency was blown 6% value before losing 2% in May 7th session. Currently, Bitcoin prices are trading at $ 9,300. Bitcoin's bad slump comes after the annual meeting of legendary investor Warren Buffett. Reply to CNBC, CEO of Berkshire Hathaway for Bitcoin with "rat poison."
So what do you think?

Do not listen too much to what legendary investor Warren Buffett talks about, he talks that way because maybe everyone has invested in bitcoin not his company.
according to the news that in three years ago you invested in Berkshire Hathaway (buffet-owned company), you will earn 30% profit, less profit when compared to investing in Bitcoin that can produce 100 times more.

I agree with your comments above, so do not overhear the chat warren buffet, even some crypto currency experts believe that he was wrong in assessing bitcoin, one that speaks so is Darren Marble, CEO of CrowdfundX. he commented that "Warren Buffett has argued repeatedly that he's right, but in the case of bitcoin, he's wrong, because he does not understand technology at all.But bitcoin evaluates someone who does not even use e-mail?
a very spicy comment I think and with the word that the warren buffet does not understand the technology here we can conclude that the warren buffet has wrongly argued about bitcoin

franky1

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bitcoin prices moves by upto 10% daily
others called bitcoin rat poison even as far back as 2013..
the two events are not linked.

Quote from: Arvicco on November 02, 2013, 01:43:15 PM

Quite a difference from an infamous quip by Charlie Munger a year or so ago: "Bitcoin is a rat poison." Oh, really?

the interview with warren buffet was the interviewer using the term "rat poison" by mentioning the charlie munger refernce and warren bufft with a smile saying "probably rat poison squared"

the thing is..
once you know the RATS = bankers. then i probably would agree that bitcoin should be rat poison. but right now, bitcoin is turning into cheese and they are eating it all up

Oasisman

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Quote from: freedom_finance on May 18, 2018, 10:28:54 PM

Bitcoin loses nearly 10% of its value after being called "rat poison" by Warren Buffett.
Ending the US session on May 5, Bitcoin closed at over $ 10,000 per coin. However, only on 6/5, the currency was blown 6% value before losing 2% in May 7th session. Currently, Bitcoin prices are trading at $ 9,300. Bitcoin's bad slump comes after the annual meeting of legendary investor Warren Buffett. Reply to CNBC, CEO of Berkshire Hathaway for Bitcoin with "rat poison."
So what do you think?

Perfect example of a copy paste. Bitcoin is at $8,245 today, why didnt you even bother to edit a little bit of your "copy paste" statement so it doesnt look like one.
On the other hand, honestly, Buffet's statement doesnt really have a huge impact towards Bitcoin price, there must be something that pulls the price bigtime, like a huge sold out of Bitcoin from exchanges.

budismile

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Quote from: freedom_finance on May 18, 2018, 10:28:54 PM

Bitcoin loses nearly 10% of its value after being called "rat poison" by Warren Buffett.
Ending the US session on May 5, Bitcoin closed at over $ 10,000 per coin. However, only on 6/5, the currency was blown 6% value before losing 2% in May 7th session. Currently, Bitcoin prices are trading at $ 9,300. Bitcoin's bad slump comes after the annual meeting of legendary investor Warren Buffett. Reply to CNBC, CEO of Berkshire Hathaway for Bitcoin with "rat poison."
So what do you think?

Do not listen too much to what legendary investor Warren Buffett talks about, he talks that way because maybe everyone has invested in bitcoin not his company.
according to the news that in three years ago you invested in Berkshire Hathaway (buffet-owned company), you will earn 30% profit, less profit when compared to investing in Bitcoin that can produce 100 times more.

Saisher

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Quote from: freedom_finance on May 18, 2018, 10:28:54 PM

Bitcoin loses nearly 10% of its value after being called "rat poison" by Warren Buffett.
Ending the US session on May 5, Bitcoin closed at over $ 10,000 per coin. However, only on 6/5, the currency was blown 6% value before losing 2% in May 7th session. Currently, Bitcoin prices are trading at $ 9,300. Bitcoin's bad slump comes after the annual meeting of legendary investor Warren Buffett. Reply to CNBC, CEO of Berkshire Hathaway for Bitcoin with "rat poison."
So what do you think?

I stopped reading about Buffett he is not helping the the cryptocurrency cause, even if the price reaches an all-time high he will still attack Bitcoin, nothing in this world can change his mind or opinion even if majority of the people are into currency but I guess he will not live long enough to see that.

pitiflin

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Quote from: freedom_finance on May 18, 2018, 10:28:54 PM

Bitcoin loses nearly 10% of its value after being called "rat poison" by Warren Buffett.
Ending the US session on May 5, Bitcoin closed at over $ 10,000 per coin. However, only on 6/5, the currency was blown 6% value before losing 2% in May 7th session. Currently, Bitcoin prices are trading at $ 9,300. Bitcoin's bad slump comes after the annual meeting of legendary investor Warren Buffett. Reply to CNBC, CEO of Berkshire Hathaway for Bitcoin with "rat poison."
So what do you think?

Warren Buffet is a top notch guy in the stock market. People believe in that guy's shit. So either panic-sellers sold by listening to him,or whales took advantage of the scenario,for explicit reasons.

Quote from: vit05 on May 19, 2018, 03:59:54 PM

One year after calling Bitcoin rat poison, Warren Buffett buys a stake in an insurance company that works exclusively with blockchain and accepts payments in Bitcoin.
He admits he was wrong and only now understands that the future has come. At that time, Bitcoin was worth only 8k, much cheaper than the current value of 80k

Wait what? This thing is a year old? Never mind.

Quote from: pooya87 on May 18, 2018, 10:37:10 PM

this happened on May 5th which is already 2 weeks ago. there is already a lot of discussion about that silly comment by him, if you are interested then use search to find them.

Again. What? This happened two weeks ago.
Screw it ,you're right @pooya87,it is 2 weeks old.

Original Article: http://money.cnn.com/2018/05/07/investing/warren-buffett-bitcoin/index.html

Elerntta

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Just news was created for manipulation. Buffett didn't mean anything bad, he hinted that bitcoin is already lagging behind many more advanced currencies in technology. And it is inhibiting the development of digital currency.

vit05

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One year after calling Bitcoin rat poison, Warren Buffett buys a stake in an insurance company that works exclusively with blockchain and accepts payments in Bitcoin.

He admits he was wrong and only now understands that the future has come. At that time, Bitcoin was worth only 8k, much cheaper than the current value of 80k

batang_bitcoin

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Quote from: pooya87 on May 18, 2018, 10:37:10 PM

this happened on May 5th which is already 2 weeks ago. there is already a lot of discussion about that silly comment by him, if you are interested then use search to find them.

Yeah it was weeks ago.
Warren Buffett says bitcoin is 'probably rat poison squared'
Though if you'll search it here in forum there has been thread that was pointing to the same topic for the past years since 2014.

leopard2

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Rich people usually become rich by leveraging the fiat money system. It allows them to obtain loans, and loans are money created from thin air. The money is then used to let other people work for them.

For example, a loan is used to buy real estate or a company, and the tenants (or customers+employees) work to pay off the loan.

It is modern slavery.

Of course people who became obscenely rich by leveraging the fiat money system, will call bitcoin rat poison (and gold, too). Well, if Bitcoin is rat poison, guess who is the rat. Hope the poison works Grin

JamescrypTrader

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I am agreed with @Pooya87. Price of btc has changed a lot what you are saying about. You should follow the content properly before posting. However, I think price went down a bit after being commented by Warren Buffett. But it will recover soon, I think .

o_e_l_e_o

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Warren Buffet has a great grasp of technology and the internet circa the 1990s. Just have a look at his website to see what I mean. And that's fine for him - his target audience have a similar understanding. But that's how he makes his money, and so he will obviously attack anything that threatens that.

SuperD007

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Treat People How You Would Like To Be Treated.

Warren Buffet needs to stick to what he knows and stop poking in finger in tech related stuff. He is clueless about anything tech related.

He doesn't even use email nor does he use a computer. He also thought Google and Amazon were destined to be huge flops when they were starting off.

Anyone taking crypto advice from him needs to get their heads checked.

Faithgg

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In my opinion, the supporters of the numbers completely disagree with Buffett and Munger, though they are all legendary investors. In response to negative comments, many argue that Buffett and Munger do not see the intrinsic value of electronic money in the context of the increasingly globalized and globalized world.

alex129

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I have also heard that Charlie Munger, Vice President of Berkshire Hathaway, is even more bitter with Bitcoin. Mr. Munger used heavy words to talk about types of numbers, including calling them toxic. When people are really influential, it is disastrous.

Baofeng

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Quote from: freedom_finance on May 18, 2018, 10:28:54 PM

Bitcoin loses nearly 10% of its value after being called "rat poison" by Warren Buffett.
Ending the US session on May 5, Bitcoin closed at over $ 10,000 per coin. However, only on 6/5, the currency was blown 6% value before losing 2% in May 7th session. Currently, Bitcoin prices are trading at $ 9,300. Bitcoin's bad slump comes after the annual meeting of legendary investor Warren Buffett. Reply to CNBC, CEO of Berkshire Hathaway for Bitcoin with "rat poison."
So what do you think?

Where are you living in the last couple of days mate? Under the rock? Did you just copy-and-paste that? Please if you are going to post something, read everything carefully. This is very very old news already. The price of bitcoin is now at $8200 levels not $9300 (checked your statement, I even bolded it for you). It's either you lack reading comprehension or you are just one troll to spread this FUD which its already repeated so many times in the forum.

pooya87

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Quote from: freedom_finance on May 18, 2018, 10:28:54 PM

Currently, Bitcoin prices are trading at $ 9,300.

when you copy stuff, make sure to read them first and also include the link. current price is in $8k range.
this happened on May 5th which is already 2 weeks ago. there is already a lot of discussion about that silly comment by him, if you are interested then use search to find them.

freedom_finance

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Bitcoin loses nearly 10% of its value after being called "rat poison" by Warren Buffett.
Ending the US session on May 5, Bitcoin closed at over $ 10,000 per coin. However, only on 6/5, the currency was blown 6% value before losing 2% in May 7th session. Currently, Bitcoin prices are trading at $ 9,300. Bitcoin's bad slump comes after the annual meeting of legendary investor Warren Buffett. Reply to CNBC, CEO of Berkshire Hathaway for Bitcoin with "rat poison."
So what do you think?

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