Topic: Warren Buffet: "Stay away from Bitcoin" (Read 10040 times)

warren buffet thinks 'money makers' need good college/university degree's, a good job and promoted to a level to be able to trade on an exchange...

well this is what i think.

I most definitely don't idolize him but I give credit where credit is due. He's made more money in a few years than all of us in our lifetimes combined.

Warren Buffet MADE an extra 13 billion last year, enough that he could buy every bitcoin, litecoin, alt coin..... and still have billions left over.  It is very scary he spoke against bitcoins.  I hope and think he is wrong, but still..... it is something to think about.   

Can someone please help to change the title of this thread like this?

Bitcoiners: "Stay away from Warren Buffet"   

Buffet is too conservative to listen to him today, we need new authority

I remember reading somewhere that age causes increased stubbornness, an increased amount of narcissism and an increased resistance to change - ie the internet and disruptive, emergent technology.

I know what tulip mania is, i don't know how people are comparing it to breaking technology though...it's like comparing Apple and oranges or even apples! 

Truth is as strong as Titanium.  




+1. Good to see not everyone is dumb.

Actually we don't need that altcoin to kill Bitcoin. I believe the Fourth Branch of government created Bitcoin, and they will make it mainstream by regulating it then allowing it to be legal tender so no more taxes on using it. That is good even for an altcoin which the government hates, because expands our ecosystem.

So what I see is a better altcoin that is #2, but better for all of us idealists who understand where we are headed 10 - 20 years hence. The masses will follow us into this altcoin later, after they get totally fucked over by the government as socialism implodes. For now the masses still trust the government, otherwise the $223 trillion global fractional reserves (i.e. debt) and $1000 trillion of derivatives would have imploded already.


I am not polluting. I responding on Buffet's point as to why Bitcoin can not become a unit-of-account (unless it becomes the new digital fiat legal tender).

Tor and VPNs can not be proven to anonymous when you use them. You might get lucky, you might not.

And besides, most are not using them, thus diluting the percentage of those who use them (5%?) by the percentage that you get lucky (80%?), means some very small percent (0.05 x 0.8 = 4%?) of Bitcoin users are anonymous w.r.t. to IP address.

And that is only IP address. You still have to mix your coins so they can't be traced on the public ledger block chain.

Problem is all mixers have the same problem as VPNs, in that you can't prove the people running them aren't revealing your identity (NSA gag order can be applied to them) or that their servers aren't backdoored.

And mixers are only a small percent of users, so thus the anonymity set is very limited.

So all of this means that the government can find 95+% of the users to attack them with taxation and criminal liability for all activity on the coin history. Because how can you prove you didn't mine the coin and sell it to yourself multiple times unless you have the identities of who you bought from and sold to?

Come on morons, you haven't thought this out.


Hahaha, of course not. I already wrote upthread that all existing and known planned altcoins are crapcoins. Even Ethereum is nonsense because putting a Turing complete language in the block chain can cause a virus and destroy the entire block chain.

Some parts of what he said make sense. If we really want to promote decentralized currencies and not just for profit, we'll be all ok for another altcoin to go mainstream instead of MUST BE BITCOIN hurr durr

The only reason we are promoting just bitcoins is it already had enough traction and we don't want to flood the average joe's mind with thousands of different copycats cryptos.

So if another cryptocurrency's rise is the death of bitcoin, it is still actually still a good news in the big picture.

Buffett is risk averse. If he can't fully understand something he isn't going to recommend it. And as much as I love the bitcoin concept it is a large gamble. It is a gamble I am taking (although I got in early and sold half when it was just about where it is now, so I won't feel too dumb if the bottom falls out.) but would I suggest it to someone that has kids to feed? Buffett believes in the smart safe play. And when he says sell, that is when I really pay attention. He saved my ass in the dot.com bubble.

DOGE bone?
Is THAT your favorite altcoin? 

Anonymint please stop polluting other peoples threads.
And yes Tor CAN help you if you know how to use it

Documents released by, and interviews with, Ed Snowden strongly imply that Tor and/or VPNs can, in fact, help quite a bit.

While I think he is wrong on this one, I have done quite well over the years listening to Buffett. And his Internet comment you make fun of probably saved me from moving to a smaller house.

I don't like this guy he is a rich man indeed but it does mean nothing for me

XD

If he really lives to 200, then is he an alien/human hybrid?

And trees grow past the moon to ur-anus too.

Rather adoption curves are logistic.

So the question is at what point is Bitcoin fully adopted?

Most people in the world don't give a rats ass about our idealistic goals with decentralized crypto-currency.

They would prefer to use Paypal or a credit card.

So Bitcoin will only continue going up if:

1. More investors drink the Koolaid.

2. There is some compelling mainstream use of Bitcoin that we haven't seen yet.


So it is quite easy to displace Bitcoin, simply invent an altcoin that has some very important use which Bitcoin can't do, and which many people need desperately.

Hey noob, I'm doing okay. I went in pre-100. I've already gained 1400% on my original BTC investment, and completely divested myself from the very dubious, artificially-inflated dollar. You should too.

That's what happens when you buy and hold. Cryptocurrency's value increases logarithmically year over year, and there's nothing you or anyone else can do to stop it. Pandora's box has been opened.

Every obstacle the terrified governments of the world throw at crypto is a mere speedbump in the big-picture, long view of the evolution of this new technology.

The clueless fiat-troll / NSA agent has spoken!

Quick, everyone divest the only real money you have ever owned (excluding gold), and buy back into nation-state ponzi-scheme currency!

Related: https://www.youtube.com/watch?v=iFDe5kUUyT0

You remind me of a Rottweiler. Very vicious in protecting his master, but not very smart.

My MO is very simple. I believe in decentralized crypto-currency. I am grateful Bitcoin exists and will promote it as such.

I am realistic about the flaws in Bitcoin. And I expect an altcoin to fix those issues. And then I expect the two things to coexist and we will profit from it.

You can go chew on your bone now.