I think Warren is just trolling. Because he didn't really understand how bitcoin is being considered today. Right now many people is considering bitcoin as money. With that said, its no joke for most of us here. Bitcoin is not only an asset or commodity but is becoming a currency. So the idea that is a joke is thrown out of the window.
He is maybe just a old school investors that's why he can't really grasp what bitcoin is. See why bankers are afraid of bitcoin? Because the flow of the cash in going to the bitcoin ecosystem. Which means they are losing real cash here. Those that are really involved in fiat investing doesn't really know how crypto's work, that's why they don't like investing on it. For them fiat(money) is the best investment, however if you see bitcoin its becoming 'real cash' as well.
Topic: Warren Buffet: The Idea that Bitcoin has Value “Is Just a Joke” - page 2. (Read 1219 times)
November 20, 2017, 08:27:13 PM
November 20, 2017, 08:18:50 PM
He don't even know what's the flow of bitcoin, technology is rising he must understand that bitcoin is dominating the world, well he thinks that bitcoin is just transferring money to another user well in fact bitcoin has a value but digitalize asset that will give an impact to a modern technology
November 20, 2017, 08:11:45 PM
With all respect to the man, Warren Buffet is a traditional banker. If he fails to embrace innovations like Bitcoin, his time is done. Obviously he already missed out on the opportunity to get 800% gains on bitcoin this year. Whether or not it is a joke or not it was an opportunity to make a lucrative amount of money and he missed it. Why? Because he is an arrogant old man whose success has gotten to his head.
November 20, 2017, 08:06:56 PM
Hmm where to start. Well technically he is not wrong so there is that but I think that is where it stops being good for him. First off the only reason he is taking a huge shot at bitcoin is because there is a lack of disconnect
there. Not saying he doesnt understand it but for some reason on some level the dude is having a hard time understanding why real money is flowing into something that does not seem real. It challenges the very nature of
what his financial world was built on and understandably he is not going to accept it as a part of his world. That is my main gripe with his statement that and the underlying negative connotation behind it.
there. Not saying he doesnt understand it but for some reason on some level the dude is having a hard time understanding why real money is flowing into something that does not seem real. It challenges the very nature of
what his financial world was built on and understandably he is not going to accept it as a part of his world. That is my main gripe with his statement that and the underlying negative connotation behind it.
November 20, 2017, 07:42:24 PM
What statement do you expect from Warren Buffet, he is a known investor for more than 40 years and all of his investments and assets are based on a fiat currency. How will you expect him to embrace the use of crypto currency if it will somehow affect his existing investments and businesses.
November 20, 2017, 06:46:06 PM
Bitcoin is all about decentralization and distribution of control ---> it's worth way more than that dirty paper he worships!
ah yes, who controls it? Is it the Chinese or roger Verr lol
November 20, 2017, 06:35:15 PM
fiat has value. its backed by debt. which is backed by assets namely eg mortgages.
bitcoin is based on belief.
What's gong to happen if eth gets above btc. Or something else in the future?
Warren Buffet isn't a fool you know.
bitcoin is based on belief.
What's gong to happen if eth gets above btc. Or something else in the future?
Warren Buffet isn't a fool you know.
Well, if he didn't invest in bitcoin when it was cheap, then he's certainly missing something. Maybe he's just not a fan of capital flight! Bitcoin is all about decentralization and distribution of control ---> it's worth way more than that dirty paper he worships!
November 20, 2017, 06:24:13 PM
fiat has value. its backed by debt. which is backed by assets namely eg mortgages.
bitcoin is based on belief.
What's gong to happen if eth gets above btc. Or something else in the future?
Warren Buffet isn't a fool you know.
bitcoin is based on belief.
What's gong to happen if eth gets above btc. Or something else in the future?
Warren Buffet isn't a fool you know.
November 20, 2017, 06:19:41 PM
The jokes he said do not apply now. Bitcoin develops every day and its value continues to rise. All transactions are transparent, making Bitcoin users always clear what they are doing. Big technology with high value. "Bitcoin and Blockchain"
November 20, 2017, 06:06:33 PM
Warren is very successful in his own right and he often says that he will not invest or comment on things that he does not understand. Bear in mind that some of his larger investments are in very traditional things like Railroads, Coca Cola and BANKS including Bank of America BNY Mellon etc. So he is good buds with Jamie.
Whats interesting is that BNP came out today all guns blaring against Bitcoin today as well, and still, it grows?
Whats interesting is that BNP came out today all guns blaring against Bitcoin today as well, and still, it grows?
November 20, 2017, 06:01:16 PM
He is right, bitcoin is only good for speculation, when people will be tired of speculating...
November 20, 2017, 06:00:04 PM
I think that Warren Buffet is missing the point ---> the big picture. It's not the ones and zeros, the op_codes and hashes, or the combination of cryptographs which people are trading ---> it is TRUST! The ability to engage in the markets without the interference of those third parties which Warren Buffet so dearly relies upon. Cryptocurrencies have value because they keep those money grubbing thieves out of our business!
November 20, 2017, 05:57:08 PM
As we already know that warren buffet is not an admirer of bitcoin.He has always criticized bitcoin.He is a traditional investor and he has knowledge only about traditional companies.He has been investing in such traditional companies through out his history and he has not invested in any of the technological companies.So,he has always tried to stay away from technology related company.There is nothing surprise in hearing such a statement against bitcoin from such a person.Actually he lacks knowledge about bitcoin.So,we need not have to care about statements of such persons.
November 20, 2017, 05:53:04 PM
As a clarification, Buffett went on to say that cryptocurrencies like Bitcoin are “a very effective way of transmitting money, and you can do it anonymously and all that”, but it doesn’t mean much in the grand scheme of things: “A check is a way of transmitting money, too.
Are checks worth a whole lot of money just because they can transmit money?”. He finished his statement with a harsher criticism of Bitcoin, saying that the “idea that [it] has some huge intrinsic value is just a joke, in my view”.
Are checks worth a whole lot of money just because they can transmit money?”. He finished his statement with a harsher criticism of Bitcoin, saying that the “idea that [it] has some huge intrinsic value is just a joke, in my view”.
A check is a way of transmitting money.
Unfortunately its not a method which would allow a person to maintain the value of their wealth if the euro and dollar crash.
I feel like potential hyperinflation of fiat currencies are the main issue Warren Buffett is avoiding. Bitcoin doesn't carry a danger of its supply being hyperinflated (massively devalued) through overprinting. That could be where a large impetus of bitcoin growth comes from.
All in all, Buffett is heavily invested in the stock market & the last thing he wants is for investors to pull their money out of stocks and put it into crypto instead. Buffett is in a position where politically he has no choice but to condemn bitcoin. He's always played it safe. New and emerging technologies are not his forte.
November 20, 2017, 05:32:06 PM
I see his point. However, when Bitcoin is used as an investment method (a working one), does it not create some value? Is it wrong to say your portfolio in bank has a "value"?
November 20, 2017, 05:20:13 PM
He is great investor, but i think he is too old for understand the new tecnologies.
And old people seems to blame that they cant understand.
Another possibility, if he has any connection with banks, so they don't want bitcoin or cryptos because it can destroy them.
And old people seems to blame that they cant understand.
Another possibility, if he has any connection with banks, so they don't want bitcoin or cryptos because it can destroy them.
November 20, 2017, 05:19:40 PM
In his latest visit to his hometown of Omaha, Nebraska, where he hosts a casual event for business students, one of the attendees asked Warren Buffett a question about Bitcoin. As a clarification, Buffett went on to say that cryptocurrencies like Bitcoin are “a very effective way of transmitting money, and you can do it anonymously and all that”, but it doesn’t mean much in the grand scheme of things: “A check is a way of transmitting money, too.
Are checks worth a whole lot of money just because they can transmit money?”. He finished his statement with a harsher criticism of Bitcoin, saying that the “idea that [it] has some huge intrinsic value is just a joke, in my view”.
Buffett tends to lean towards investing in things that have a sustainable inherent value. Meanwhile, Bitcoin is surging past the $8,000 mark even after the SegWit2x drama left its future uncertain.
Although there’s no denying that it’s subject to more volatility than most fiat currencies, there’s a lot to be said about its utility in the market as more stores begin to accept payments in the cryptocurrency. Warren Buffett might not be keen on the idea of pumping capital in Bitcoin’s direction, but other players want a piece of the pie, each for their own reasons.
https://cryptovest.com/news/warren-buffet-the-idea-that-bitcoin-has-value-is-just-a-joke/
There is more to Bitcoin than just a high intrinsic value, it's the solution to a decentralized currency, where there is not central authority. An other feature of that makes Bitcoin unique is it's fixed supply. That makes it different from real fiat currencies where the central bank can bring more units in circulations, unlimited. That's why some people call Bitcoin, digital gold. Are checks worth a whole lot of money just because they can transmit money?”. He finished his statement with a harsher criticism of Bitcoin, saying that the “idea that [it] has some huge intrinsic value is just a joke, in my view”.
Buffett tends to lean towards investing in things that have a sustainable inherent value. Meanwhile, Bitcoin is surging past the $8,000 mark even after the SegWit2x drama left its future uncertain.
Although there’s no denying that it’s subject to more volatility than most fiat currencies, there’s a lot to be said about its utility in the market as more stores begin to accept payments in the cryptocurrency. Warren Buffett might not be keen on the idea of pumping capital in Bitcoin’s direction, but other players want a piece of the pie, each for their own reasons.
https://cryptovest.com/news/warren-buffet-the-idea-that-bitcoin-has-value-is-just-a-joke/
November 20, 2017, 05:16:08 PM
as far as I know he loves jokes ... it keep$ him alive
November 20, 2017, 05:09:14 PM
In his latest visit to his hometown of Omaha, Nebraska, where he hosts a casual event for business students, one of the attendees asked Warren Buffett a question about Bitcoin. As a clarification, Buffett went on to say that cryptocurrencies like Bitcoin are “a very effective way of transmitting money, and you can do it anonymously and all that”, but it doesn’t mean much in the grand scheme of things: “A check is a way of transmitting money, too.
Are checks worth a whole lot of money just because they can transmit money?”. He finished his statement with a harsher criticism of Bitcoin, saying that the “idea that [it] has some huge intrinsic value is just a joke, in my view”.
Buffett tends to lean towards investing in things that have a sustainable inherent value. Meanwhile, Bitcoin is surging past the $8,000 mark even after the SegWit2x drama left its future uncertain.
Although there’s no denying that it’s subject to more volatility than most fiat currencies, there’s a lot to be said about its utility in the market as more stores begin to accept payments in the cryptocurrency. Warren Buffett might not be keen on the idea of pumping capital in Bitcoin’s direction, but other players want a piece of the pie, each for their own reasons.
https://cryptovest.com/news/warren-buffet-the-idea-that-bitcoin-has-value-is-just-a-joke/
Thosee people who have still doubts on bitcoin really think like that. But when he say that bitcoin has value "It's just a joke" is a very poor reason why he can't believe bitcoin. Is it because it is too much expensive? Or is because it's digital? People will only believe when they already experience it and how to use it. Are checks worth a whole lot of money just because they can transmit money?”. He finished his statement with a harsher criticism of Bitcoin, saying that the “idea that [it] has some huge intrinsic value is just a joke, in my view”.
Buffett tends to lean towards investing in things that have a sustainable inherent value. Meanwhile, Bitcoin is surging past the $8,000 mark even after the SegWit2x drama left its future uncertain.
Although there’s no denying that it’s subject to more volatility than most fiat currencies, there’s a lot to be said about its utility in the market as more stores begin to accept payments in the cryptocurrency. Warren Buffett might not be keen on the idea of pumping capital in Bitcoin’s direction, but other players want a piece of the pie, each for their own reasons.
https://cryptovest.com/news/warren-buffet-the-idea-that-bitcoin-has-value-is-just-a-joke/
November 20, 2017, 05:07:20 PM
Well he's not wrong.
He has his own metrics with which he assesses investment opportunities, successful ones at that, and Bitcoin happens to fail short in this regard. He doesn't like gold either, so it has neither to do with Bitcoin being a new technology, nor with Bitcoin being a bad investment in itself.
While I disagree with his conclusion I see where he is coming from and he's consistent in his thinking. I respect that. I respect that more than flip-flopping hype-train-jumping Wall Street bankers to be honest.
Warren Buffett made more money investing than he or his descendants will ever be able to spent, I doubt he has reason to be jealous or to feel like he missed the boat
He has his own metrics with which he assesses investment opportunities, successful ones at that, and Bitcoin happens to fail short in this regard. He doesn't like gold either, so it has neither to do with Bitcoin being a new technology, nor with Bitcoin being a bad investment in itself.
While I disagree with his conclusion I see where he is coming from and he's consistent in his thinking. I respect that. I respect that more than flip-flopping hype-train-jumping Wall Street bankers to be honest.
Would Warren be jealous of not having had the smell instead?
Warren Buffett made more money investing than he or his descendants will ever be able to spent, I doubt he has reason to be jealous or to feel like he missed the boat
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