Warren Buffett & "Rat Poison" - page 2.

jaysabi

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Quote from: ?? on ??

The joke is on us, if we take this loser seriously. Buffet no longer rank among the top-10 richest people in the world. I have to agree that he was successful in the past, but a lot of factors contributed to his success. If others had the same amount of capital as he had, then we would have seen many others with much more good looking portfolios. My advice is to ignore this guy. He is not useful anymore and I hope that jokers such as Justin Sun realize this.

Oh, has he fallen out of the list of the top 10 richest people in world? Like all the way down to number 7?

https://www.msn.com/en-gb/money/technology/10-richest-people-in-the-world-list-of-wealthiest-people-on-earth-as-elon-musk-knocks-jeff-bezos-off-top-spot/ar-BB1cAbGB

But let's pretend he had fallen out of the top ten richest people on the planet, like all the way down to 15. Or 20, oh the humanity! Let's pretend there were a ton of people who ranked above him now and the only thing he did was increase his wealth 22 billion dollars between March 2020 and January 2021. (True story! It was only 67.5 billion last March: https://en.wikipedia.org/wiki/The_World%27s_Billionaires#2020) I mean wow, what a loser, amirite?

Karartma1

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Quote from: mindrust on January 16, 2021, 02:20:37 PM

Quote from: Karartma1 on January 16, 2021, 04:52:00 AM

Quote from: mindrust on January 15, 2021, 03:53:18 AM

Quote from: Karartma1 on January 15, 2021, 02:24:40 AM

Passive income can come in many forms like renting some real estate, saving accounts, dividends and the list goes on. Even in the crypto world if you would like to take some risk you can get some interest on your crypto holdings on both CeFi (Nexo, BlockFi...) and DeFi (Compound, AAVE...) platforms.
There are definitely some ways to earn while you sleep.

Taking risks to make money is not passive income. That was my point.

You rent your real estate, that's not passive income. That's just another business which you'll have to keep your eyes on because the tenants always carry some risks.

Managing your risks = business. That's not passive income. Now you should realize everything you do to make money has its own risks that means it is not passive.

Risk is always involved! Unless you want to patronize me like Robert Kiyosaki would do about the difference between assets/liabilities...
https://www.richdad.com/what-are-assets-and-liabilities
Whatever form of passive income you may think of, will always imply risks! Even when you cross the road, you may accidentally die.

Simple question:

Let's say you own 50 different real estate which you collect rent from. Would you consider this passive income or a separate business?

I think that's a business. It would be passive income maybe if someone else was dealing with the tenants though but then you need to deal with him. Cool

If there's no material involvement from your side, i.e. you simply collect a percentage of earning from the tenants then yes that is passive income. Let's not play the specifications game here, I only wanted to stress the fact that even with passive income there is risk involved, you can't simply rule that out.

jaysabi

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Quote from: MCobian on January 16, 2021, 06:36:38 PM

I don't know the real reason why Warren Buffett always thinks negatively about Bitcoin, I think Buffett will not withdraw his words about Bitcoin
at any time. Indeed, the fact is Bitcoin may not be liked by everyone, there will always be people who hate Bitcoin. We really shouldn't force
someone to like Bitcoin, because everyone has their own choice. Even I can't convince everyone in my environment that Bitcoin is the best asset
for now.

Buffet is a value investor, so he depends on an analysis of the valuation of a stock to its projected future cash flows to determine what a good investment is over time. Since Bitcoin doesn't produce cashflow, he has no basis for valuing it. It's really as simple as that.

Sithara007

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Quote from: MCobian on January 16, 2021, 06:36:38 PM

I don't know the real reason why Warren Buffett always thinks negatively about Bitcoin, I think Buffett will not withdraw his words about Bitcoin
at any time. Indeed, the fact is Bitcoin may not be liked by everyone, there will always be people who hate Bitcoin. We really shouldn't force
someone to like Bitcoin, because everyone has their own choice. Even I can't convince everyone in my environment that Bitcoin is the best asset
for now.

Warren Buffet is free to voice his opinions. He is having a negative view about Bitcoin and let's respect his views. Cryptocurrency users need to ask this question - does Bitcoin needs Warren Buffet? I would say that the answer is no. He was a successful investor, but that was many decades ago. Now the best thing for us to do is not to give him unwanted attention, especially when he is badmouthing Bitcoin.

MCobian

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I don't know the real reason why Warren Buffett always thinks negatively about Bitcoin, I think Buffett will not withdraw his words about Bitcoin
at any time. Indeed, the fact is Bitcoin may not be liked by everyone, there will always be people who hate Bitcoin. We really shouldn't force
someone to like Bitcoin, because everyone has their own choice. Even I can't convince everyone in my environment that Bitcoin is the best asset
for now.

jaysabi

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I know it's incredibly trendy in the crypto community to hate on Buffet, but one of the quotes you quoted on him is not only true, nobody here is able to rebut it:

“You’re just hoping the next guy pays more. And you only feel you’ll find the next guy to pay more if he thinks
he’s going to find someone that’s going to pay more. You aren’t investing when you do that, you’re speculating.”

This is bitcoin in a nutshell. No intrinsic value, doesn't produce income, it is merely a speculative asset and the only thing that gives it value is a large group of people agreeing it has value.

Here's the thing- if you think bitcoin doesn't have value, you won't buy it. If you think it does, you will. Neither of you are right because there is no objective truth to this. And both of you are right because there is no objective truth to this. You cannot sell bitcoin to someone who doesn't think it has value. The only reason those who have bitcoin think it has value is because you think you can sell it to someone else who also thinks it has value. Exactly like Buffet said. This is the very definition of arbitrary value. This is what makes it speculative.

mindrust

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Quote from: Karartma1 on January 16, 2021, 04:52:00 AM

Quote from: mindrust on January 15, 2021, 03:53:18 AM

Quote from: Karartma1 on January 15, 2021, 02:24:40 AM

Passive income can come in many forms like renting some real estate, saving accounts, dividends and the list goes on. Even in the crypto world if you would like to take some risk you can get some interest on your crypto holdings on both CeFi (Nexo, BlockFi...) and DeFi (Compound, AAVE...) platforms.
There are definitely some ways to earn while you sleep.

Taking risks to make money is not passive income. That was my point.

You rent your real estate, that's not passive income. That's just another business which you'll have to keep your eyes on because the tenants always carry some risks.

Managing your risks = business. That's not passive income. Now you should realize everything you do to make money has its own risks that means it is not passive.

Risk is always involved! Unless you want to patronize me like Robert Kiyosaki would do about the difference between assets/liabilities...
https://www.richdad.com/what-are-assets-and-liabilities
Whatever form of passive income you may think of, will always imply risks! Even when you cross the road, you may accidentally die.

Simple question:

Let's say you own 50 different real estate which you collect rent from. Would you consider this passive income or a separate business?

I think that's a business. It would be passive income maybe if someone else was dealing with the tenants though but then you need to deal with him. Cool

aoluain

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Quote from: bits4books on January 15, 2021, 09:50:36 AM

Quote from: cheezcarls on January 15, 2021, 08:31:10 AM

Now that Bitcoin has reached beyond its limits, I don’t know what Warren Buffett has to say. What kind of new nickname does he have for Bitcoin now? His “rat poison” Bitcoin nickname have failed. I started losing my respect to this guy because he thinks that the traditional way of investing is still the most effective up to date, but it looks like he’s got it all wrong because he is left behind by the Bitcoin train.

Beyond what limits? An endless increase in the price and then its collapse and repeated increase and so on in a circle-this is not going beyond the limits of possibilities but the usual cyclicity. There is no over-overcoming and change of form both in oneself and in the public consciousness.

In the eyes of the critics it has reached beyond their vision if its limitations.
We may see a statement from him this year at some stage, so many
people will be wanting to see if he is positive now that so many institutional
investors have made a move into Bitcoin, and his interviews are always
news worthy. The media definitely will have him in their sights for interviewing.

Karartma1

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Quote from: mindrust on January 15, 2021, 03:53:18 AM

Quote from: Karartma1 on January 15, 2021, 02:24:40 AM

Passive income can come in many forms like renting some real estate, saving accounts, dividends and the list goes on. Even in the crypto world if you would like to take some risk you can get some interest on your crypto holdings on both CeFi (Nexo, BlockFi...) and DeFi (Compound, AAVE...) platforms.
There are definitely some ways to earn while you sleep.

Taking risks to make money is not passive income. That was my point.

You rent your real estate, that's not passive income. That's just another business which you'll have to keep your eyes on because the tenants always carry some risks.

Managing your risks = business. That's not passive income. Now you should realize everything you do to make money has its own risks that means it is not passive.

Risk is always involved! Unless you want to patronize me like Robert Kiyosaki would do about the difference between assets/liabilities...
https://www.richdad.com/what-are-assets-and-liabilities
Whatever form of passive income you may think of, will always imply risks! Even when you cross the road, you may accidentally die.

NASdaq

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He is just too old for btc. At least, he is not shorting it. He is not our enemy

bits4books

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Quote from: cheezcarls on January 15, 2021, 08:31:10 AM

Now that Bitcoin has reached beyond its limits, I don’t know what Warren Buffett has to say. What kind of new nickname does he have for Bitcoin now? His “rat poison” Bitcoin nickname have failed. I started losing my respect to this guy because he thinks that the traditional way of investing is still the most effective up to date, but it looks like he’s got it all wrong because he is left behind by the Bitcoin train.

Beyond what limits? An endless increase in the price and then its collapse and repeated increase and so on in a circle-this is not going beyond the limits of possibilities but the usual cyclicity. There is no over-overcoming and change of form both in oneself and in the public consciousness.

bits4books

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Crypto is not a religion but i like it

But maybe we will not deceive ourselves and agree with the fact that cryptocurrencies have no value as such because they do not produce anything? This is really just a fiction, a surrogate, an attempt to be money without being money. Every dollar spent leads to the fact that somewhere something is produced again or makes production easier-better-better. While BTC exists a long time ago only for the sake of making a larger number of dollars out of a small number of dollars.

cheezcarls

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Now that Bitcoin has reached beyond its limits, I don’t know what Warren Buffett has to say. What kind of new nickname does he have for Bitcoin now? His “rat poison” Bitcoin nickname have failed. I started losing my respect to this guy because he thinks that the traditional way of investing is still the most effective up to date, but it looks like he’s got it all wrong because he is left behind by the Bitcoin train.

mindrust

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Quote from: Karartma1 on January 15, 2021, 02:24:40 AM

Passive income can come in many forms like renting some real estate, saving accounts, dividends and the list goes on. Even in the crypto world if you would like to take some risk you can get some interest on your crypto holdings on both CeFi (Nexo, BlockFi...) and DeFi (Compound, AAVE...) platforms.
There are definitely some ways to earn while you sleep.

Taking risks to make money is not passive income. That was my point.

You rent your real estate, that's not passive income. That's just another business which you'll have to keep your eyes on because the tenants always carry some risks.

Managing your risks = business. That's not passive income. Now you should realize everything you do to make money has its own risks that means it is not passive.

Karartma1

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Quote from: mindrust on January 14, 2021, 12:24:02 PM

Quote from: iv4n on January 14, 2021, 12:14:26 PM

Warren Buffet said:"If you don't find a way to make money while you sleep, you will work until you die."! I respect that!

I don't know what you understand from that quote but I think is misunderstood.

I believe what he really means here is "You will work until you die because it is impossible to make money while you sleep."

It also depends on the definition of "making money" everybody gets it differently I guess.

Passive income can come in many forms like renting some real estate, saving accounts, dividends and the list goes on. Even in the crypto world if you would like to take some risk you can get some interest on your crypto holdings on both CeFi (Nexo, BlockFi...) and DeFi (Compound, AAVE...) platforms.
There are definitely some ways to earn while you sleep.

jrrsparkles

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Quote from: Darker45 on January 13, 2021, 07:57:09 PM

I think wealthy investors do not just invest in things they do not understand and personally like. Whether a certain investment is profitable or not won't matter to them if it is not really their cup of tea. They wouldn't mind leaving a promising asset behind for something else they are passionate about.

This might be what this is all about. Warren Buffet has his own bases in terms of investment and Bitcoin is not in his personal taste. He's got his own opinion. Let him do his thing in peace. Why do we sometimes sound so bitter that Warren is rejecting our advances?

Yes he is successful because he is investing only on the assets which he has deep knowledge about since his childhood days by tat time there is bitcoin and blockchain that is why it is hard for him to accept the blockchain technology even is something unique and hackproof.

Most of his followers are also having the same mindset, they don't want to invest on bitcoin because they believe that bitcoin total supply can be altered someday just because the creator wants to make some money.

iv4n

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Quote from: mindrust on January 14, 2021, 12:24:02 PM

Quote from: iv4n on January 14, 2021, 12:14:26 PM

Warren Buffet said:"If you don't find a way to make money while you sleep, you will work until you die."! I respect that!

I don't know what you understand from that quote but I think is misunderstood.

I believe what he really means here is "You will work until you die because it is impossible to make money while you sleep."

It also depends on the definition of "making money" everybody gets it differently I guess.

If you think it's impossible to make money while you sleep than you need to think everything all over again! I don't know what did you learn for all this time spent in crypto (you are a legendary member man!), but I guess you need to learn some things again! You can invest in services/projects and to have passive income! It was available before in many ways, but I guess crypto made all that much easier!
I didn't misunderstand it, I understood it as it's written... you either bust your ass every day for your paycheck, or you arrange "things" somehow to earn while you sleep (you don't have to be present somewhere, you don't need to bust your ass on rain and snow...)!
You "make money" or you don't "make money"! There're no definitions here, what we can discuss here is the "ways" of "making money"... the first one is legal or illegal... later we can divide it on other ways!

mindrust

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Quote from: iv4n on January 14, 2021, 12:14:26 PM

Warren Buffet said:"If you don't find a way to make money while you sleep, you will work until you die."! I respect that!

I don't know what you understand from that quote but I think is misunderstood.

I believe what he really means here is "You will work until you die because it is impossible to make money while you sleep."

It also depends on the definition of "making money" everybody gets it differently I guess.

iv4n

legendary

Activity: 3248

Merit: 1179

Warren Buffet said:"If you don't find a way to make money while you sleep, you will work until you die."! I respect that!

Quote from: Hydrogen on January 14, 2021, 11:31:47 AM

Quote from: Lucius on January 14, 2021, 07:03:11 AM

.....

...

Warren Buffett owns stock in the banking industry
The banking industry buys and holds bitcoin
Warren Buffett owns bitcoin, by owning the stock of banks, who own bitcoin

Its the same as the CEO of JP Morgan, Jamie Dimon, making comments on bitcoin.

Before JP Morgan adopted crypto investment.

I think you have a point Hydrogen, in some way Warren Buffett has to be connected with crypto, through his companies! And excellent reminder about JP Morgan!
People are not from stone, so it's normal for people to change their mind from time to time! And I think many people changed their mind about crypto, and many more will... just give them time!
One of my good friends said that he will buy bitcoin when it drops to $20k, and if that happens... I am talking about bitcoin since $150...and he had many comments, conspiracy theories...but after recent ATH he said he is buying a wallet (like the one I have) and he is buying bitcoins... I almost forgot, he saw in newspapers something about the report from Wall Street, I told him more about it and said I am waiting that moment to see him owning BTC after so many years of talking against it!

If you wish to see more about the Wall Street report, one of the members here have a nice topic about it... here it is: https://bitcointalksearch.org/topic/m.55958296

Hydrogen

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Quote from: Lucius on January 14, 2021, 07:03:11 AM

The gist of the whole story may be contained in this article that tries to explain why Buffett will never invest in BTC ->

Bitcoin Jumps To $34,000, But Here’s Why Warren Buffett Will Never Own It

...

Warren Buffett owns stock in the banking industry
The banking industry buys and holds bitcoin
Warren Buffett owns bitcoin, by owning the stock of banks, who own bitcoin

Its the same as the CEO of JP Morgan, Jamie Dimon, making comments on bitcoin.

Before JP Morgan adopted crypto investment.

Topic: Warren Buffett & "Rat Poison" - page 2. (Read 697 times)