Warren Buffett Blasts Bitcoin as 'Gambling Token' as BTC Surges 35% in 30 Days

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Quote from: Lucius on April 17, 2023, 04:37:55 AM

Quote from: bbc.reporter on April 16, 2023, 10:17:52 PM

~snip~
Traditional finance is a much larger casino than the cryptospace so uncle Warren does not have the right to criticize us.

He or anyone else has the right to criticize anything and anyone if we live in a democratic society where every individual has the right to express his opinion. What's wrong is that after 10 years of his criticism of Bitcoin, you or anyone else still finds such news worthy of attention.

Heheheh in an argument when you tell someone that he has no right, it really implies that he is being unreasonable or unfair hehe. It does not mean that he really has no legal right hehehehe. However, yes he can tell everyone his opinion, similar to I have a right to share any news.

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Quote from: Casdinyard on April 17, 2023, 12:25:28 PM

Funny how he's throwing all these shades at bitcoin and crypto when his finance company just sold their Visa Holdings in exchange for crypto.

Warren Buffett is one of the influencers and billionaire people should not believe or have any slight feelings toward the negative statement he made about Bitcoin because people like him will never support BTC publicly due to something that's on the line per his reputation in Berkshire Hathaway Inc.
I believe he learned more than enough about BTC from Justin Sun when they had dinner some years ago and he's just playing politics.

Quote from: Casdinyard on April 17, 2023, 12:25:28 PM

What an utter hypocrite if I do say so myself. He's a profound speaker and a tome of wisdom, all right, but when it comes to pure investment advice I'd rather take my money elsewhere. He got lucky on a single investment and banked his whole identity around it (correct me if I were wrong tho) and now thinks he's the best investor in the planet. Pretty funny if you ask me.

Best investors? Black Rock Inc is doing better than him and they never make noise about it. Besides, only a few people know about them and they have a stake in almost all the best companies around the world.

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Warren Buffet cannot be convinced, he’s consistently spoke against bitcoin for a long time, I think Warren like every other person is entitled to his own opinion, his criticism of bitcoin is inconsequential and does not in any way affect the crypto market. I don’t think people who idolize Warren Buffet are pro bitcoin so it’s not like he’s changing anyone’s mind to be against bitcoin. We just have to accept the fact that not everyone will buy bitcoin, some will miss the train, bitcoin will achieve great heights regardless.

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Funny how he's throwing all these shades at bitcoin and crypto when his finance company just sold their Visa Holdings in exchange for crypto. What an utter hypocrite if I do say so myself. He's a profound speaker and a tome of wisdom, all right, but when it comes to pure investment advice I'd rather take my money elsewhere. He got lucky on a single investment and banked his whole identity around it (correct me if I were wrong tho) and now thinks he's the best investor in the planet. Pretty funny if you ask me.

I'd rather not take advice or statements from people who are as old as him, they literally didn't know how the world works, and are the same people who thought that the internet is a fad that people will get tired of in the past. So no, I'll indeed take my money elsewhere.

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Quote from: bbc.reporter on April 16, 2023, 10:17:52 PM

~snip~
Traditional finance is a much larger casino than the cryptospace so uncle Warren does not have the right to criticize us.

He or anyone else has the right to criticize anything and anyone if we live in a democratic society where every individual has the right to express his opinion. What's wrong is that after 10 years of his criticism of Bitcoin, you or anyone else still finds such news worthy of attention.

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Quote from: bbc.reporter on April 16, 2023, 10:17:52 PM

Quote from: The Cryptovator on April 14, 2023, 12:45:58 PM

We're tired of encountering FUD and nonsensical comments, but even Bitcoin seems fatigued and unresponsive to such remarks. Nevertheless, Bitcoin remains in bull mode. Although Bitcoin may not hold the same significance for everyone, for us, it is a cryptocurrency that facilitates borderless transactions without the need for a third party. Hence, those with a centralized mindset may not appreciate Bitcoin. It's best to disregard them and move forward. I'm not bothered by such FUD in the least.

I reckon it might not be very nonsensical because much of the people who have gone into bitcoin are also here to speculate on the price, trading on leverage and to get rich quick. However, what we can also argue is it is very much similar to the stock market and the other markets of traditional finance. Traditional finance is a much larger casino than the cryptospace so uncle Warren does not have the right to criticize us.

Bitcoin, stocks, gold... are all assets, and how to use them is each person's behavior. Just because some people use it to gamble that he hastily declared that it is gambling, he is too stupid. Bitcoin is still being used as a currency in some countries, and I don't see him mentioning it?

He doesn't like bitcoin, and he has the right to criticize bitcoin because it's his right. Like we don't like fiat, and we still criticize it every day. It's just one person's opinion, and you don't have to worry about it. For me, just focus and do my job well with bitcoin, ignore all the nonsense because it brings no benefit.

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Quote from: The Cryptovator on April 14, 2023, 12:45:58 PM

We're tired of encountering FUD and nonsensical comments, but even Bitcoin seems fatigued and unresponsive to such remarks. Nevertheless, Bitcoin remains in bull mode. Although Bitcoin may not hold the same significance for everyone, for us, it is a cryptocurrency that facilitates borderless transactions without the need for a third party. Hence, those with a centralized mindset may not appreciate Bitcoin. It's best to disregard them and move forward. I'm not bothered by such FUD in the least.

I reckon it might not be very nonsensical because much of the people who have gone into bitcoin are also here to speculate on the price, trading on leverage and to get rich quick. However, what we can also argue is it is very much similar to the stock market and the other markets of traditional finance. Traditional finance is a much larger casino than the cryptospace so uncle Warren does not have the right to criticize us.

The Cryptovator

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We're tired of encountering FUD and nonsensical comments, but even Bitcoin seems fatigued and unresponsive to such remarks. Nevertheless, Bitcoin remains in bull mode. Although Bitcoin may not hold the same significance for everyone, for us, it is a cryptocurrency that facilitates borderless transactions without the need for a third party. Hence, those with a centralized mindset may not appreciate Bitcoin. It's best to disregard them and move forward. I'm not bothered by such FUD in the least.

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Quote from: Renampun on April 14, 2023, 06:28:37 AM

if I could talk face to face with uncle buffet then I would explain in more detail to him about the strong reasons why I fully support bitcoin and never thought bitcoin was a tool for me to get rich quickly (from his words that I caught, Warren thought everyone who was in bitcoin just wanted to get rich quick so he thought bitcoin was not much different from gambling tokens).

You'd have to pay him a million dollars to talk to him. The man values his time, he only talks to himself, his servants and Charlie for free. If you have something to say to him, you have to pay, and he still won't listen to you, just let you do the talking and pretend he can hear you without his hearing aid Cheesy

Quote

he supports fiat and fiat is something that can be printed at any time according to political interests, while bitcoin has a limited amount and no one can interfere with it (I wonder what his response was when he heard these words).

He supports fiat because most of his money is fiat. He has stocks, properties and fiat money. Talking to him is like going to a guy who ate meat all his life and try to explain him that he's being cruel to animals and should switch to soy meat, or trying to convert a Muslim into Christianity, or the other way round.

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Quote from: bbc.reporter on April 12, 2023, 10:33:47 PM

...
And today he continued his critique. “Something like Bitcoin, it’s a gambling token,” he said on CNBC’s Squawk Box. “The urge to participate in something where it looks like easy money is a human instinct which has been unleashed and has always been there.”

He continued: “It’s so human. People love the idea of getting rich quick—I don’t blame them,” before adding that Bitcoin doesn’t have any value but people still want to “play the roulette wheel” by investing in it.[/i]

Read in full https://decrypt.co/126115/warren-buffett-bitcoin-gambling-token

if I could talk face to face with uncle buffet then I would explain in more detail to him about the strong reasons why I fully support bitcoin and never thought bitcoin was a tool for me to get rich quickly (from his words that I caught, Warren thought everyone who was in bitcoin just wanted to get rich quick so he thought bitcoin was not much different from gambling tokens).

he supports fiat and fiat is something that can be printed at any time according to political interests, while bitcoin has a limited amount and no one can interfere with it (I wonder what his response was when he heard these words).

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Quote from: bbc.reporter on April 12, 2023, 10:33:47 PM

Billionaire investor Warren Buffett doubled down on his Bitcoin criticism today, once again suggesting that the asset is nothing more than a get-rich-quick scheme.

In a Wednesday interview with CNBC, the Berkshire Hathaway boss said he didn’t blame people for wanting to get involved in what looks like “easy money.”

And today he continued his critique. “Something like Bitcoin, it’s a gambling token,” he said on CNBC’s Squawk Box. “The urge to participate in something where it looks like easy money is a human instinct which has been unleashed and has always been there.”

He continued: “It’s so human. People love the idea of getting rich quick—I don’t blame them,” before adding that Bitcoin doesn’t have any value but people still want to “play the roulette wheel” by investing in it.

Warren Buffet is a wealthy man who is old and one characteristic that people who are old and wealthy have is that they are not easy to convince with new ideas, so forgive Warren if he still has no trust in bitcoins. He is old and wealthy and may not live long enough to regret his decision unlike the people who are young, do not have money at all and will follow him in this his belief, choosing to ignore this opportunity to invest and make some good life changing gains in a couple of years.

I will tell people to always learn to form their opinions and not just adopt the opinion of others even if you feel they are at a position better than you.

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Quote from: bbc.reporter on April 13, 2023, 09:00:32 PM

I am sorry if this is annoying, however, it was news that I wanted to share to show the hypocrisy of a person that many people consider a role model. Read the argument about the news.

I know that your comment is not intended for me - but you have not proven anything new with this topic, because WB has been saying the same things for ten years. In my opinion, the bigger problem is that you emphasize news like this as important, but in fact there is nothing new or important for Bitcoin.

Quote from: bbc.reporter on April 13, 2023, 09:00:32 PM

In some occasions he might be a good person but to open his mouth again when bitcoin has begun pumping is very head shaking. He is like a friend who tells his other friends not to do something because he does not want to do it.

The so-called journalists always provoke WB with questions like this because they want click-bait headlines, and it's obvious that they succeed every time. You're shaking your head for no reason, his opinion has no bearing on the direction Bitcoin is going. I would like to conclude the story with an old saying: "when you have such "good friends", you don't need enemies".

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Warren Buffet's sentiment toward Bitcoin will always be rehashed by the media. People know his stances on the subject, yet they will always be still asking questions about it to strike up some controversy, regardless of how the market performs. There is literally zero contribution that he offer and gave toward the Bitcoin ecosystem, the problem that arises is those people who trust or believe himself, people's stance toward Bitcoin might be affected because of Buffet's thoughts.

On one hand, it will be just another Bitcoin Obituaries, and in the other hand, people or any entity who favour him would willingly resonate and spread his sentiment.

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Let him say whatever he wants to, we shouldn't really care much about what he or anyone in the fiat industry says about Bitcoin, he is not the one who makes the rules around here, we don't follow what he says and the world has proved that by not panicking or starting and FUD within the crypto community, no price drops, no much reactions, everything is normal.

Also, he is not the only one nor it's his first time blasting on something, he even says gold and real estate are bad investments, but who would believe what he says? Gold and real estate are one of the safest investment options mankind can ever have.

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From rat poison squared to a gambling token i'd say is an upgrade coming from Buffet. Sadly he won't live long enough to take back these words once he can fully be convinced of its intrinsic value that we all know to be true. Buffet is dead to BTC already, who needs him! He is old money with his massive fortune being built on stocks and dividends and of course his real estate empire. BTC and crypto is the future and you know what they say: you can't teach and old dog new tricks!!

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Even if he calls bitcoin garbage I never care. As long as trash but bring me wealth, the life that many people dream of, garbage or gold, doesn't make much difference. Why are we so concerned with what this man has to say? While our job is to make a profit to take care of our family and ourselves, as long as we make money from bitcoin, it doesn't matter what bitcoin is called.

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Quote from: bbc.reporter on April 13, 2023, 09:00:32 PM

Quote from: Rikafip on April 13, 2023, 01:16:13 AM

Who the fuck cares what Warren Buffet has to say about Bitcoin anyway? And its not like he is saying this for the first time so that we should be surprised.

I am sorry if this is annoying, however, it was news that I wanted to share to show the hypocrisy of a person that many people consider a role model. Read the argument about the news.

In some occasions he might be a good person but to open his mouth again when bitcoin has begun pumping is very head shaking. He is like a friend who tells his other friends not to do something because he does not want to do it.

Not just Warren, but there are a lot of personalities that totally go against bitcoin. But when they open their mouth, the price suddenly go on the uptick. So yeah, we understand where he is coming from because he is as traditional as anyone, but the thing is, he should at least open his eyes and see that there is something good about bitcoin as far as investments goes.

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Quote from: Rikafip on April 13, 2023, 01:16:13 AM

Who the fuck cares what Warren Buffet has to say about Bitcoin anyway? And its not like he is saying this for the first time so that we should be surprised.

I am sorry if this is annoying, however, it was news that I wanted to share to show the hypocrisy of a person that many people consider a role model. Read the argument about the news.

In some occasions he might be a good person but to open his mouth again when bitcoin has begun pumping is very head shaking. He is like a friend who tells his other friends not to do something because he does not want to do it.

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Warren Buffet is stubborn in staying with his belief. Bitcoin had been performing such feats for more than a decade now and still Warren Buffet can't move on and still stick to his own stand. Well at least he is consistent, consistent with being shame by the Bitcoin market, lol.

I have long put Warren Buffet's beliefs and statements about Bitcoin on ignore. He just keeps on clinging to his failed belief about Bitcoin being a bubble.

Quote from: thecodebear on April 13, 2023, 03:22:26 PM

I love when people compare Bitcoin to gambling because its so stupid lol.

It's funny how I think you love stupid things Grin

. Well, about Warren Buffet saying BTC is a gambling token, there is some truth in it because Bitcoin is often used in the gambling industry together with fiat currency.

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Quote from: bbc.reporter on April 12, 2023, 10:33:47 PM

“The urge to participate in something where it looks like easy money is a human instinct which has been unleashed and has always been there.”

He's 100% right. Bitcoin is easy money! Easy to use money that anyone can own, hold and use without being told what to do by banksters.
He's like that guy that wanted his own island so he swam and swam until he found one and is now sitting there all day making waves so that other swimmers can't reach his island.

I remember him saying that if someone offered him bitcoin for a few bucks he still wouldn't buy it, which is pure stupidity because why wouldn't you buy something you can sell for 100 times more in an instant? This is his attitude in a nutshell. He's a stubborn old donkey who thinks he has all the investment knowledge in the world and can't be wrong, but he's been wrong about bitcoin for many years now.

Topic: Warren Buffett Blasts Bitcoin as 'Gambling Token' as BTC Surges 35% in 30 Days (Read 404 times)