The intention with the comparation between gambling and bitcoin was to be disrespectful, to underestimate bitcoin potential, proposal and usage, as many people see gambling in a negative way. However, thinking deeply about gambling concept, what isn't gambling in life?
We are gambling each new day on the big or small choices we make. If it will be bad or not, we have to wait to see, no one can assure for now, Warren Buffet or anyone else.
Topic: Bitcoins labelled a gambling device - page 3. (Read 13215 times)
Old school investors like Mr. Buffet and Mr. Dimon will have difficulty finding value in new technologies like cryptocurrencies.
GenX and Millennials are the ones seeing the possible huge change in the financial system that Blockchain and cryptocurrencies could bring to the world.
The evolution of internet is bound to include the financial system that's why Mr. Nakamoto tagged the "Times Bailout" in the Bitcoin genesis block.
GenX and Millennials are the ones seeing the possible huge change in the financial system that Blockchain and cryptocurrencies could bring to the world.
The evolution of internet is bound to include the financial system that's why Mr. Nakamoto tagged the "Times Bailout" in the Bitcoin genesis block.
Nothing should be seen from an old business man who accustomed himself with the outdated analogistic method of business, they are very behind the digitalistic world, so, nothing far from this should be expected from them. Bitcoin is not a gambling device rather is a digital currency with the sole aim of been a payment method as an alternative to fiat to those who need freedom and transparency.
But your signature promotes a cryptocurrency gambling site!
I think mr Warren is too narrow minded, he only accepting old traditional investment and doesn't want to learn something new, all investment are like gambling but if we focus on the potential then the chances we making profit is going to be bigger and for me bitcoin is not created to be investment, but more as a new transaction payment system
he needs to stay in his lane
Soon after its existence bitcoin was much used as a token carrying value. Further the same got its increased usage on gambling and for illegal transactions. When popularity of bitcoin keeps growing people began to understand the true value of bitcoin and the same gave it multiple usage, importantly gambling industry is the one that helped with the increased circulation during the early days.
https://ihodl.com/topnews/2019-05-05/warren-buffett-claims-bitcoin-gambling-device/
According to the sources Warren Buffet apparently thinks of Bitcoin as a gambling device.
What do you guys think ?
Is this true or something that is disrespectful for our community.
I would say my answer is somewhere in the middle , we are unaware of the fact so as what it might be in the future , in the past 10 minutes but we still hold onto this thing because of hope.
I would rather compare it to share market , rather than a gambling device.
yeah many say that if you play with bitcoin or cryptocurrency it is tantamount to playing gambling because we are hoping for a significant increase given by bitcoin as before but that is not necessarily the case. be bitcoin if you hope that by getting direct profits it can be considered as gambling. for me i would like to use bitcoin as it should be like doing transactions and others but this bitcoin can also be an investment tool for the future According to the sources Warren Buffet apparently thinks of Bitcoin as a gambling device.
What do you guys think ?
Is this true or something that is disrespectful for our community.
I would say my answer is somewhere in the middle , we are unaware of the fact so as what it might be in the future , in the past 10 minutes but we still hold onto this thing because of hope.
I would rather compare it to share market , rather than a gambling device.
Warren Buffet might be too old to understand how the cryptocurrency and blockchain technology works. His mind is is well-focused on the daily activities in stock market and on his stock investments so he did not have enough time for the crypto market. We already knew in this forum that bitcoin or any cryptocurrency is a kind of virtual currency that can be use in any online transactions and can be traded. Gambling is said to be a game of chance and bitcoin is a not a game but a currency.
Here is the original article: https://www.foxbusiness.com/business-leaders/warren-buffett-bitcoin-is-a-gambling-device
Nothing should be seen from an old business man who accustomed himself with the outdated analogistic method of business, they are very behind the digitalistic world, so, nothing far from this should be expected from them. Bitcoin is not a gambling device rather is a digital currency with the sole aim of been a payment method as an alternative to fiat to those who need freedom and transparency.
He is not totally wrong when he said that. This is an investments and it could also fail. There is no assurance at all and we should not think that it would always go as what we have predicted. We don't know the unseen here and anytime the value of our investments can go to zero and that is a total lost so we are just making a hunch here. Two outcomes are only available, win or lose.
I don't find it disrespectful when he said it can be a gambling device since it's somewhat true there's a risk in having Bitcoin we can't avoid the way it fluctuates. What annoyed me in the clip is when he compared Bitcoin to a seashell it shows that no one should listen to what he says about Bitcoin.
He has always said worst things about bitcoin, he was the same person that said bitcoin is a bubble waiting to burst some time ago and nothing have happen to bitcoin uptil now so I think it high time we stop taking his word's serious because to me he is just like all the other whales who have being looking for ways to bring bitcoin down. 
I don't find it disrespectful when he said it can be a gambling device since it's somewhat true there's a risk in having Bitcoin we can't avoid the way it fluctuates. What annoyed me in the clip is when he compared Bitcoin to a seashell it shows that no one should listen to what he says about Bitcoin.
Who cares about what he say? we're already done with everything that he say.
He keeps on flaming bitcoin and I think he should stop talking every useless word he say about bitcoin. I admire him as one of the best investor but he needs to take a rest if the topic is all about bitcoin, we'll never hear him say something good about bitcoin.
He keeps on flaming bitcoin and I think he should stop talking every useless word he say about bitcoin. I admire him as one of the best investor but he needs to take a rest if the topic is all about bitcoin, we'll never hear him say something good about bitcoin.
Here is the original article: https://www.foxbusiness.com/business-leaders/warren-buffett-bitcoin-is-a-gambling-device
Well that is his own opinion. We have so many people also talking about bitcoin being a scheme. To the best of my knowledge and experience, I have come to realize those people that have negatively vocal about the use of bitcoin do not know how bitcoin works because if they are aware, nobody will term it as a gambling device. Everything we do in life involve risk. Even our businesses and all decision we take in life involve risk. Maybe he is talking about the risk involved in using and holding bitcoin which is also the same as other currencies
As for me, it's a yes. Just like gambling, we have to take some risks and it depends on the market situation if we're going to have a good gain or lose our earnings. Our investments serve as our bet and our profits serve as our winnings. The volatility of Bitcoin is the main reason why it's comparable to gambling.
He doesn't know what he's talking about again. If I came to a mechanic and told him how to repair cars he would kick me out.
Warren doesn't research bitcoin and he's not invested but he keeps going on and on about how stupid the idea is. I guess he can't get over being wrong about it years ago.
We should really give him less air time. He's too old to grasp the idea.
Warren doesn't research bitcoin and he's not invested but he keeps going on and on about how stupid the idea is. I guess he can't get over being wrong about it years ago.
We should really give him less air time. He's too old to grasp the idea.
Depending on the content of the heart, if someone does not like bitcoin, they will think bitcoin is gambling and even consider it a ponzi scheme. No need to think dizzy with other people's words, and most importantly your own belief in bitcoin.
Yep strongly agree with you .It all depends on us some see's it that way because of their own reason.
But if we could correct them why not talk to them about it .
But I think he stated it because most of the crypto owners are gamblers.
At least he stands strong on his opinion, not like JP Morgan who makes a complete U-turn. Regarding the opinion, I don't think it is disrespectful for the community, we should aware that he is an old-school investor, but the currency world is vastly changing, and today generation should be more aware and able to understand Bitcoin as a general especially in term to be the solution of the conventional currency that heavily relies on trusts.
According to the sources Warren Buffet apparently thinks of Bitcoin as a gambling device.
What do you guys think ?
Is this true or something that is disrespectful for our community.
What do you guys think ?
Is this true or something that is disrespectful for our community.
It's somewhere in between. I think it's no secret that many Bitcoin investors are speculating on its future value more than anything else. Betting on whether Bitcoin will take off or realize mass adoption is a matter of speculation. It's a gamble. Any number of things could happen today or tomorrow that will hamper adoption.
The odds in favor of Bitcoin's success are getting better everyday, though. In several more years, it may not be fair to call it a gamble anymore.
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