Topic: Warren Buffet saids: “Stay Away From Bitcoin” - page 10. (Read 13980 times)

Buffet doesn't understand technology.
It is right for him to stay away. 

Many professional investors share your opinion.

Ordinarily when a well-known investor says to buy or sell something, he's simply talking his book to increase his profits. But in this case? Who knows. I haven't a clue what he really thinks of Bitcoin, and I'm skeptical he even understands it.

Ol' Warren has carefully developed his "kindly grandpa" persona as a means to compensate for his current lack of investment acumen. He was one of the twentieth century's greatest investors, but his twenty-first century record is spotty at best. He used to be the king of arbitrage and buyouts; but now, he's burning through his cash reserves and credit lines by investing haphazardly everywhere he can, hoping something sticks.

fuck that reptile.

Warren Buffet himself has said to not obssess over graphs and let time pass.
He took 10 years to get one of his best investments back and when he invested it initially went down.
Most people are sometimes wrong and statistically he is wrong with this. He is simply TOO OLD to get it.

Well warren buffet is right so far and all of you are wrong :7

I think you are right, he likely does not understand the concept of bitcoin. He has never really understood technology companies, nor has he invested in them.

From what I can tell him tends to only invest in industries that are very well established and are unlikely to go away anytime soon (or ever). Neither bitcoin nor technology is going to meet this criteria

media people ... say the inverse of real thing :

- 2013 : don't buy gold = GOLD buyyyyyyyyyyyyyyyy
- 2015 : don't buy bitcoin = BITCOIN buyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy

I don't really give a damn what he says. His opinion is worth to me the same as the opinion of any other stranger.

Exactly!
I really think that Warren Buffet is financial genius but this doesn't mean that he is expert in everything.
Maybe he don't like revolutionary, free concept behind bitcoin, decentralization, no banks involved etc.

Buffet is an investing genius.  However, he also has said he wont invest in things he doesn't understand and that includes technology.  This is a guy who was reluctant to invest in MICROSOFT because he didn't understand it.

Buffet views bitcoin like he does gold, a non-income producing investment.  He's opposed to gold and so he's even more opposed to bitcoin since it's just gold he does not understand.

To his credit, his call this year has been right, bitcoin's price is down.  Does that mean I no longer believe in it, of course not!

Buffet obviously can read charts

Fortunately, even a genius like Buffett is not always right
He is wrong about bitcoin. Period.

Haven't more "highly respected" investors adviced people to not invest in Bitcoin because it will crash to zero?

If I were to believe some of them then Bitcoin at this point would be worth $0.01 

He should focus on retiring and spend his free time on the golf course.

No, it isn't. Many investments performed much worse than Bitcoin. Some stocks are down 98% - and that doesn't even include the companies that went bankrupt this year.


Yup. He said it generally about the Internet companies. In the late 90s. Guess what happened in 2000? He also said it about gold in 2010, if I remember correctly. Guess what happened in 2011? Yeah, he's just a stupid old man without a clue (but with lots of money). /sarcasm


A wise investor never invests in something he doesn't understand.


Speaking of transaction fees. I saw some research that currently the miners get about 0.5% of their income from transaction fees. Wouldn't be fair to say that when no new bitcoins can be mined any more, the transaction fees would have to increase at least 200 times?


This is at least arguable. Regarding security, I have no hard data but have the definite feeling that a larger percentage of Bitcoin users have fallen victim to Bitcoin-related scams than the percentage of credit card users have fallen victim to credit card-related scams. Regarding privacy, I definitely disagree. Pseudonymity does not provide sufficient privacy. Recent research paper demonstrated that it is possible to deanonnymize (down to their IP address even when they were behind a NAT firewall) a large percentage of the Bitcoin transactions (some 80%).


It is like saying do not invest in a free e-mail provider with no revenues - which is a perfectly valid statement. (I wish I could add "unlike a postal service" but in most countries these are state-owned and deep in the hole pretty much since their creation.)

some people try kill bitcoin with bad news.

I really don't think he understands the concept. The main positives are the low cost transaction fees and borderless transactions this is what it gives inherent value with security and privacy. This is like saying email has no value because we have the postal service.

They never involved in bitcoin, so they don't know it's big potential
I think he just invest at bad time 

please no more bad news....bitcoin can't handle this much bad news....we are going to kill it

I would agree if he said: stay away from HODLING and hoping the time the price hits 1M each.

There are good money making opportunities in BTC