Topic: Why does Warren Buffett hate bitcoin? (Read 1046 times)
I don't think Warren Buffet hates bitcoin, I'm sure Warren Buffet doesn't understand bitcoin, one day he will understand the benefits of inviting bitcoin and he will be happy with bitcoin.
I don't think Warren Buffet hates bitcoin, I'm sure Warren Buffet doesn't understand bitcoin, one day he will understand the benefits of inviting bitcoin and he will be happy with bitcoin.
Agree with this statement. Misunderstanding doesn't mean hate.
The reason is simple,when you're a billionaire, you would have felt and enjoyed physical cash.
Bitcoin is virtual money and an old adage says"don't spend the money until it is in your pocket" and a bird at hand is worth a million in the bush.
Bitcoin is virtual money and an old adage says"don't spend the money until it is in your pocket" and a bird at hand is worth a million in the bush.
In this world, we are entitled to the freedom to express ourselves on anything we see or hear. Warren Buffet is just expressing his thoughts on things he do not understand and its different from the way he does his transactions. I don't think he hates bitcoin but he just not familiar with how bitcoin and blockchain technology works.
Mr buffet tries to come off as a super nice guy but his ultimate motive is money. He will try to kill anything that threatens his investments and he is heavily invested in banks and credit cards. Bitcoin is a major threat to those businesses, point blank.
You can hate something you just don't understand. Warren Buffet does not hate Bitcoin, he is just ignorant about what Bitcoin is and has no knowledge about the true purpose of bitcoin and blockchain technology. He is just saying what he thinks Bitcoin is from the information he has heard the media say about the entire crypto ecosystem..
I like those people who doesn't comment much if they don't really know about something. Warren Buffet is a well-known man in terms of Financial Education. But when he talk about Bitcoin, I don't think that he really understand it. Let them speak, their negative comments will be remembered when Bitcoin and Blockchain Technology will succeed in the future.
It is not yet clear whether Warren Buffet is actually jealous about Bitcoin, or he hates BTC for some unknown reason. IMO, I think that the former is more of a possibility when compared to the latter. Buffet made a lot many risky investment decisions during the 20th century, and he got a lot of fame and money from them. So people expected him to predict the next major asset boom, but he was unable to do that. But rather than accepting his defeat, he is still trying to paint Bitcoin as a ponzi scheme which may become worthless at some point in the near future.
Because he was insecured and could not accept the fact that bitcoin will be boomed like now. He doesn't really know about how blockchain really works and how bitcoin is considered as digital investments. Or when everybody envy bitcoin, he just want to be on the opposite side to gain some attention.
If you understand the evolution of money and tulip investing, it all makes sense.
He hates it because hes rich off USD.
Its not worth his time and he relates it to tulips.
Tho i find his thinking a tad obsolete.
He doesn't need to make more money anyway, and if he does, it won't be a high risk like it is for everybody else. Yes, down-talk Bitcoin, while ready to invest in it a little percent of his disposable fortune just in case...
I bet the rest of his kind are doing the same, even Trump.
I bet the rest of his kind are doing the same, even Trump.
because he's too old when he was born, there weren't even plastic cards yet. old people can be very conservative. when significant people will be replaced by his young relative, that's then begin warmer for the world of cryptocurrency
LOL, maybe right buddy but actually Warren Buffett is the centralised business giant and she will never support decentralized cryptocurrency or any project belongs to the platform.
Then if the Bitcoin acquires complete market and enter centralise mode of payment system and never make profit with their payment support partners. Maybe after government recognise they may wish to use the Bitcoin.
because he's too old when he was born, there weren't even plastic cards yet. old people can be very conservative. when significant people will be replaced by his young relative, that's then begin warmer for the world of cryptocurrency
If you understand the evolution of money and tulip investing, it all makes sense.
Because Warren Buffett doesn't understand bitcoin. for Buffet Bitcoin warren has no privilege. Basically, (bitcoin) is delusional or not worth more than Buffett is sharper. He likens Bitcoin to similar rat poisons. The astrologer will announce that Bitcoin and crypto currencies will end badly.
Should Billett be able to see real evidence from people who buy bitcoin and their lives will change completely.
try Buffett to learn, understand, and can try to put the money into the Bitcoin system to invest.
A lot of young guys without wealth don’t understand old guys like buffet he is a cagey Dude.
He has solid money and he could have easily did what I guess.
It is easy to think old guys are slow stupid and stubborn.
He is not slow
He is not stupid
He is not stubborn.
He is an old clever mofo. He is willing to do what he needs to do to score.
I am 62 not old as him but no longer a kid.
I have watched his moves a long time.
He has certain patterns and I think he has done this move two or three times since I have watched him do his moves.
Best thing about being a little older is seeing move of life’s patterns unfold. Then acting on them and being correct. I never would have succeeded mining btc if I was 30 when I started. Being 55 in 2012 I was able to know how to ride the waves of btc mining.
I did aggressive growth in nov and dec 2018 based on my oct 2018 diff thread prediction ideas in mining speculation. It worked out well for me.
You are right, I'm still young and having not that much in life made me always think that he means what he say and basically what rich people words are always wise. He has solid money and he could have easily did what I guess.
It is easy to think old guys are slow stupid and stubborn.
He is not slow
He is not stupid
He is not stubborn.
He is an old clever mofo. He is willing to do what he needs to do to score.
I am 62 not old as him but no longer a kid.
I have watched his moves a long time.
He has certain patterns and I think he has done this move two or three times since I have watched him do his moves.
Best thing about being a little older is seeing move of life’s patterns unfold. Then acting on them and being correct. I never would have succeeded mining btc if I was 30 when I started. Being 55 in 2012 I was able to know how to ride the waves of btc mining.
I did aggressive growth in nov and dec 2018 based on my oct 2018 diff thread prediction ideas in mining speculation. It worked out well for me.
And with the small conversation that we had right here I've learned a lot from you, thank you and I really appreciate that you are educating me and shared things about your life experience, success in bitcoin mining and your observation towards him. This really means a lot to me.
He's said that bitcoin is a rat poison so I assume that he hates it too much. He might not understand what bitcoin really is but there's one thing that we can think of why he hates it.
And that is because bitcoin is against to the traditional investments that he has grown and he has. Another reason can be that he's old enough to understand what bitcoin truly is all about. But someday it might happen that he will take back his words against bitcoin.
And that is because bitcoin is against to the traditional investments that he has grown and he has. Another reason can be that he's old enough to understand what bitcoin truly is all about. But someday it might happen that he will take back his words against bitcoin.
Rat 🐀 poison is a good thing if you want to kill off rats.
Btw could you please link me to his statement that he says that?
🙏 thank you.
https://www.coindesk.com/billionaire-warren-buffett-calls-bitcoin-rat-poison-squared
https://money.cnn.com/2018/05/07/investing/warren-buffett-bitcoin/index.html
Well thank you so in May of 2018 he looked at fundementals and he saw that alt coins would collapse due to ASICS killing GPU’s.
So he trashed talked Btc and watched until it got to December of 2018 and pounced on it at 3000-3300.
He then sold 1/2 when coins moved up to 13,400 . So he is now sitting on a boatload of coins. And made bank . He now has 1/2 his investment at a paper cost of 3000-3330 a coin.
While in reality since he sold 1/2 at 13000 a profit of 10000 a coin.
So he can sit on this 1/2 of his original purchased until next year around April when coins move to 25,000 plus due to the 1/2 ing..
Warren simply manipulated the market with the rat statement.
It is why I wanted to see the quote so I could see the date.
The problem is that he missed the ship and now he can't get rich from Bitcoin. Had he benefited from Bitcoin, then he won't be ranting like this. Now his problem is that he don't want to purchase Bitcoin above 10K mark, after missing them in 2012 when the price was 1/1000th of the current levels. Also I read somewhere that old grumpy men are more prone to jealousy.
Read the quote of what philipma explained, it makes sense about WB.A lot of young guys without wealth don’t understand old guys like buffet he is a cagey Dude.
He has solid money and he could have easily did what I guess.
It is easy to think old guys are slow stupid and stubborn.
He is not slow
He is not stupid
He is not stubborn.
He is an old clever mofo. He is willing to do what he needs to do to score.
I am 62 not old as him but no longer a kid.
I have watched his moves a long time.
He has certain patterns and I think he has done this move two or three times since I have watched him do his moves.
Best thing about being a little older is seeing move of life’s patterns unfold. Then acting on them and being correct. I never would have succeeded mining btc if I was 30 when I started. Being 55 in 2012 I was able to know how to ride the waves of btc mining.
I did aggressive growth in nov and dec 2018 based on my oct 2018 diff thread prediction ideas in mining speculation. It worked out well for me.
This is the latest quote from him in an article in this week's Sunday Times about attending the Berkshire Hathaway conference in Omaha or wherever -
"What is it? It's a seashell. It's not an investment. It's a gambling device. It's had a lot of frauds associated with it. Some people have lost a lot on it. Bitcoin hasn't produced anything. I'll tell you what, I'll tear a button off my jacket and I'll offer you $1000 for it. Maybe you can then sell it for $2000 but at the end of the day that button has one use.
I can write you a cheque for $1 milllion. Why is that cheque worth $1 million? It's not the value of the pen. It's not the value of the paper. It's because I have got $1 million on deposit somewhere."
Still not a fan then. Or showing any considered understanding. But hey, why does he need to?
"What is it? It's a seashell. It's not an investment. It's a gambling device. It's had a lot of frauds associated with it. Some people have lost a lot on it. Bitcoin hasn't produced anything. I'll tell you what, I'll tear a button off my jacket and I'll offer you $1000 for it. Maybe you can then sell it for $2000 but at the end of the day that button has one use.
I can write you a cheque for $1 milllion. Why is that cheque worth $1 million? It's not the value of the pen. It's not the value of the paper. It's because I have got $1 million on deposit somewhere."
Still not a fan then. Or showing any considered understanding. But hey, why does he need to?
Well He's an old billionaire. He grew his wealth through 'physical' assets/investments in physical businesses. Bitcoin however is not a physical asset ,hence, his skepticism. It's understandable but that doesn't mean his opinion is a determining factor. He didn't see the early potential in Microsoft also.
Sorry, but I do not believe that such a well-known businessman does not really believe in cryptocurrency. Most likely this is hype on the part of Warren. But in fact, he probably has a whole Department that already earns on cryptocurrency.
He has his reasons and I know a lot of people do too. Not everyone are to decentralized and irreversible crypto currencies. Another thing is that I think He is one of those old guys that believes bitcoin is just a plan in disguise. It is a way for this people to earn money. Well, a lot of old people will thinking that way especially the ones in the government.
legendary
Activity: 3010
Merit: 1028
Leading Crypto Sports Betting & Casino Platform
Everyone has a different point of view in Bitcoin and other cryptocurrencies in the market. You cannot expect that all are pro into Bitcoin. In all life aspects, everything has cons.
For me, Warren Buffett doesn’t like Bitcoin is because he doesn’t understand the technology and real use cases of it. Correct me if I’m wrong, but I think he focuses more on the charts rather than its technology behind it.
Justin Sun, CEO and founder of TRON, won a bid where he will have a lunch date with Warren Buffett himself. I actually met Justin twice by the way, recently in Taipei. I just hope that he would finally open Warren Buffett’s mind and change his perspective about Bitcoin and blockchain technology.
I do agree, even there are many news saying that warren buffet always avoiding to invest into technology, though there's nothing wrong with that but always being pessimistic like that and spreading his opinion is just not really good. I mean, imagine if those old people deny the existence of the Internet for the sole reason of it's not in their favor. For me, Warren Buffett doesn’t like Bitcoin is because he doesn’t understand the technology and real use cases of it. Correct me if I’m wrong, but I think he focuses more on the charts rather than its technology behind it.
Justin Sun, CEO and founder of TRON, won a bid where he will have a lunch date with Warren Buffett himself. I actually met Justin twice by the way, recently in Taipei. I just hope that he would finally open Warren Buffett’s mind and change his perspective about Bitcoin and blockchain technology.
Jump to: