Topic: Warren Buffet saids: “Stay Away From Bitcoin” - page 7. (Read 13980 times)

Bitcoin is a long term investment. Not a short term investment.

No he was not just lucky. He had very low fees, he invested in insurance and got a cash flow that he re-invested, he rarely lost on any investments. When it was tough he used his political connections to get away with a profit.

He made a great deals over the years where he totally legally paid very little for very valuable companies.

His investments in coca cola were very successful too.

You can say a lot things about Warren Buffet, you can hate him or love him but for the one of richest man on the earth you can't say that he is idiot with lower iQ or just lucky.
He invested very wisely over very long period of time and a lot people now trying to learn from him and copy his method.
He probably don't understand bitcoin much but this don't change the fact that in most cases he made good financial decision. 

Who cares about Warren Buffet? He made money with Berkshire only because he was lucky. I am sure that his IQ is much lower than that of an average investor. And we can expect similar statements from low IQ people.

Jimmy Buffet wants a cheeseburger "in paradise" and needs to know if he can pay with BTC.
Do you have any thoughts?

Seriously, Warren Buffet is too old to easily understand Bitcoin, unless he puts some effort into it.

He is a long term value investor so naturally he won't support Bitcoin.

He also does not like IT hype companies, and missed several boats if you will - but his strategy is still successful.  I like his value approach in an ever crazier world

That does not make Mr. Buffet a dinosaur. It is simply not part of his strategy. Railroads, ketchup etc. yes; Bitcoin and Facebook no.

http://www.fool.com/investing/general/2014/01/27/why-warren-buffett-would-never-buy-facebook.aspx

In that 2001 letter, Buffett said: "At Berkshire, we make no attempt to pick the few winners that will emerge from an ocean of unproven enterprises. We're not smart enough to do that, and we know it."

IMHO a bitcoin millionaire would be well advised to diversify into his Berkshire shares, and Mr. Buffett may be well advised to invest a little bit into cryptocurrency. Not a coin directly but into adoption.

Warren Buffet said "only invest in what you understand", and I think he's right. Warren doesn't understand Bitcoin. But I do. That's why I feel happy having converted pretty much all my savings into Bitcoin. I trust cryptography way more than the ECB and FED.

Warren Buffet is a decaying dinosaur that's missing the boat, stay away from it.

He always stays away from what he doesn't understand.

Because he is scared.

i dont understand why a guy like warren buffet isn't interested in own 1 or 10 bitcoins.. if they go to zero dollars he loses a whopping $200-$2000 his value fluctuates 1000's times that on a daily basis….

Why is it wrong to suggest most people should own just 1 or .5 btc...

He lies/don't tell the full truth at least 50% of the time when it comes to the future.
He doesn't understand most new technologies as he says himself.

warren buffet lies all the time, you should do the opposite of what he tells you to do.

BTC holds an intrinsic value that is very interest rate sensitive, I expect BTC to prove warren to be an out right liar, shortly after the first rate hike.

When you hear a high ranking member of the terrorist organization Illuminati issued a statement such as: “Stay Away From Bitcoin”

That's like an order that he commanded all illuminati members to sell all their holdings in Bitcoins, and never buy Bitcoin again. That's why you see the price of Bitcoin is now selling below $219.

My guess is:
The Illuminati is aggressively pulling out all their investments in Bitcoin.

Illuminati members were caught red handed many times manipulating the stock market using common sense strategy known as:

"Buy as a crowd" - Illuminati members all buy a certain stock (asset) at a certain time to push price up.
"Sell as a crowd" - Illuminati members all sell a certain stock (asset) at a certain time to drive price down.

That is the reason why, the mastermind Warren Buffett are confident enough to issue this statement in public, while he's holding an ice-cream cone.

"The Trend is Your Friend".

No, it is not. Investing is. So, it would be a good idea not to listen to his opinion on how much to increase the block size but to listen to his opinion on what to invest in (and in what not to).

He may be right about a lot of things and people respect him for it, but I guess technology is not his cup of tea.

My thoughts: Screw Warren Buffet. Who cares?
Read his actual quote - It's just a "NO SHIT" that logically makes no fucking sense as to why bitcoin shouldn't be valued.

His quote:
“Stay away from it. It’s a mirage, basically. … It’s a method of transmitting money. It’s a very effective way of transmitting money, and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope Bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways, and it will be. The idea that it has some huge intrinsic value is just a joke in my view.”

My response:
The US dollar is a way of transmitting money as well. A very effective way of transmitting money - it would be far less effective than bitcoin if everyone accepted bitcoin... You can do it (spend cash) anonymously and all that. Should we stay away from cash money too? NO - These things make it valuable. Checks are fucking retarded you can't just buy stuff with a check its a pain in the ass, you have to cash it, pay a fee, or have a bank account in which case it takes days to clear....
Soooo when bitcoin was under 10 cents per bitcoin it would still have been a bad investment in this guys mind - and if you did the opposite of follow his advice then you could very well be a millionaire/billionaire.....


Bitcoin rose too fast, just like gold did, and so it was bound to drop back down even if it was going to continue to climb eventually - the price was just artificially high because the skyrocket created a huge demand for bitcoin. Any idiot can see that happening / coming - but in the long run I think bitcoin is here to stay for the next 60 years AT LEAST - unless governments make it illegal or people find a better alternative, in which case it will probably STILL stay around, it just won't do as well.

So yes, bitcoin will struggle for the next year, maybe two, maybe three, but eventually people will see it for what it is and as more coins are released and the initial hype dies off the price will slowly become more and more stable. In the long run Warren Buffet could not be more wrong. It's just not a good investment at this point in time - I'd wait until it drops under $250.

Well said, he is a man I have much respect for. His opinion and recommendation is relevant on the conventional side. I would not say poor Warren tho, he is doing what works for him which is right. From my view he may have a problem with the absent of a regulated or central body as norm with a the regular financial markets. In any event do only what you understand and if you don't research and learn. Cause you may miss out on the next best thing.

Everybody has his own style and techniques when it comes to investments. Buffet is a student of Benjamin Graham and has come closer to perfecting Graham's ideas and techniques than anyone else has. Buffet would have to gain a whole new skill-set by researching and educating himself about bitcoin. That's why he doesn't invest in bitcoin, forex, and other markets that are outside his expertise.

Only a fool spreads himself too thin and expects to make a profit, and Buffet is no fool.