Topic: Warren Buffet saids: “Stay Away From Bitcoin” - page 9. (Read 13980 times)

is this real?
he doesn't understand bitcoin? it sounds really strange to me

he is one of the most important investors in the history

He could be right....he could be wrong! I dont care..I still think it has a decent value n is really volatile..It is fun dealing with it! this is not what Mr.Buffet would like anyways!

As far as I know the age of the Dinosaurs is over.
So, the age of the modern dinosaurs will soon be over too.
Say goodbye to Buffet, Rockefeller, Rothschilds, etc....

They have NO control over crypto.
And chances are that within the next 50 years, money will be only crypto in the most advanced (modern) countries of the world.

At least that is what I believe.

as the losses of banks seem to get equally distributed over the whole country they are pretty safe investments

Yeah that's it. Wanted to write the same. Seeing his investments it's obvious that he is against Bitcoin.
Because is it's future competitor.

So Warren Buffet is bullish on alternates?   

Does that mean, that I hodl more BTC than Warren Buffet?

It sure does have huge potential IF the right people begin using it as a currency and not just to make money..

Lets see where Buffet invests based on last months reporting... American Express, Bank of NY Mellon Corp, Goldman Sachs, Mastercard, M&T Bank Corp, US Bancorp, VISA, Wells Fargo & Co.

Buffet invests with five banks and the top three credit card services. NUFF SAID!

That's right  I believe bitcoin has a huge potential with real world purposes and that makes us the new elite 

No one can be right 100% of the time on everything. He had a 50/50 of getting it right. Bitcoin is not even a decade old yet, and he probably made the money call too soon.

It's perfectly fine to say BTC is a bad investment if backed up with sound reasoning, but his reasonings are terrible. It's clear that he doesn't fully understand the technology based on his reasoning.

The reason Buffet advises potential investors to stay away from bitcoin is because he does not understand bitcoin. It has nothing to do with the underlying potential value of bitcoin, nor the potential success of bitcoin in the future

https://www.cryptocoinsnews.com/warren-buffet-stay-away-from-bitcoin/

The Crypto Coin News article (obviously) takes a defensive stance explaining why and how Buffet's opinion on Bitcoin can be dismissed away. The problem, however is that the Journalist, Evander Smart, doesn't do a very good job proving Buffet wrong.

Smart scoffs at Buffet's analogy that Bitcoin is like a check or money order by stating "that's like comparing an email to a telegram." I think he's implying that comparing an email to a telegram is a ridiculous idea. The problem is that it isn't, email IS like a telegram! Obviously the technology behind the telegram is the precursor to the technology behind an email. An email does everything a telegram does, although faster, more convenient, more immediate, a cheaper, which is very similar to the benefits Bitcoin provides beyond existing payment methods.

Smart claims that quantitative easing economic practices and zero percent interest rates are mirages, but they aren't. They exist, they were created by humans just as setting a price on goods and services was set by humans. Just like VIRTUAL currency was created by humans. QE and zero percent interest rates exist to stimulate the economy...they may work, they may not, but either way they aren't a mirage. (The fact that they aren't a mirage is what makes Bitcoin so attractive as alternative currency.) And to be completely honest, if we all lose electricity none of this becomes relevant...without electricity and the network that supports the general ledger the idea of Bitcoin disappears like a haze mirage on the desert in the distance.

I will agree with Smart on one point, Buffet doesn't understand the technology used to create Bitcoin. I agree with that (although I have no more knowledge about it than Smart does...which is zero because Smart has never talked to Buffet to confirm his lack of knowledge.) Buffet's lack of understanding on how Bitcoins are created isn't very relevant to making an investment decision. No one buys, uses, or holds Bitcoin because of the technology used to create it. They buy, use, or hold Bitcoin because of the benefits it provides. Those benefits are easy to quantify and therefore easy to build a "buy or sell or stay away" opinion on.

The most promising thing is that Buffet is making a call on it...just like at one point he made a call on IBM saying it wasn't a worthy investment. It legitimizes Bitcoin, which is what everyone here is hoping for.

The one thing that most of us can agree on is that no one knows which way the price is going to go and no one knows (with certainty) what the finite amount of Bitcoins and the upcoming mining halving rates will have on supply and demand. But you can be certain that supply and demand is not a mirage and will drive the price...into the ground or to the moon.

His answer isn't "so god damn stupid" it's actually pretty logical, sensible, and smart. The only element he doesn't explain way is the finite amount of Bitcoins that will exist. If there were only checks or money orders or debit cards available in the world, let's say 21 million, would there be a premium to use them as a form of payment?

He doesn't like to buy assets he doesn't know abost. Also, He doesn't invest in anything related to technology.

To the OP, do YOU have any thoughts? Thanks for the link but what's the point of this thread? What's your position?

I think that Warren Buffett is too much old to try to understand this new type of tecnology. Maybe he consider that an other type of investment like house is much good than bitcoin, but my opinion is that in future he will repent about this thing.

I believe he has historically advised people to stay away from tech stocks as well, many of which have performed fantastic.

After years of lurking I am responding to an actor_tom_truong post.  Does that make me a follower?  We never know what our futures hold!  

Warren buffet is a savvy investor and ate more of the apple than you would think this core that is left could hold.  The fat old turd Buffett is on the downslope of his magnificent parabola and soon will not recognize the world he was born into (and the world he so successfully exploited in past years).  

I have friends that follow him around and a business partner that had Sunday brunch with him a few months ago.  I will check (didn't bother to ask before) and see how impressive the fat serpent really was and report back.

P.S.  Look at the places this codger puts his political donations...

I saw him taking about that, in a thing with bill Gates as co  host (whom he's been friends with for ages i think): how he is a technophobe and didn't invest in MS because it's not something he can grasp.
If Gates can't convince him of the potential of Microsoft how is he ever supposed to get bitcoin!?