Why does Warren Buffett hate bitcoin? - page 2.

fortunecrypto

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Quote from: Alexandir on July 08, 2019, 08:47:55 AM

If you understand the evolution of money and tulip investing, it all makes sense.

The guy is a traditionalist he does not want anything revolutionary and even if he dislikes it, he cannot do anything to stop the adoption and propagation of Bitcoin and he will not change his mind even if 100% of the country accept.

qwertyup23

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Quote from: Alexandir on July 08, 2019, 08:47:55 AM

If you understand the evolution of money and tulip investing, it all makes sense.

One of the many reasons on why Warren Buffet is against cryptocurrencies is due to its inherent and store of value. He believes that bitcoin does not possess any physical value compared to money, gold bars, real estate, lands, etc.
Another thing, bitcoin (to be specific) has a high volatile value compared to the ones that I mentioned above. Successful investors like him rely on the conventional way of investing with relatively minimal risks to consider.

Although there may be reasons on why he doubts cryptocurrencies, we should not rely his decisions solely.

cheezcarls

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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.

livingfree

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Quote from: philipma1957 on July 10, 2019, 09:21:53 AM

Quote from: livingfree on July 09, 2019, 11:20:26 PM

Quote from: philipma1957 on July 09, 2019, 04:26:26 PM

Quote from: livingfree on July 09, 2019, 01:13:13 AM

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.

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.

That statement was from last year.

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.

That makes sense while me and probably majority believes that he really hates bitcoin. If ever he changes his statement few months/years from now on, then it wouldn't surprise me anymore thanks to you philipma.

Quote from: Sithara007 on July 09, 2019, 11:23:48 PM

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.

minhlee95

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Guys, I honestly don't know how Warren Buffett really feels about cryptocurrencies. But I wonder how his meeting with Justin San Went. What they discussed and what decision they came to. Did Justin change the opinion of Warren on cryptocurrency.

Glutius

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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.

BitHodler

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Quote from: NathanJB on July 10, 2019, 03:30:28 AM

We all have our own way of interpreting opportunities and trend, and Bitcoin is apparently something unconvincing to this old man's taste.

Yes. It might have been different if he wasn't as wealthy as he is right now, but at his age and level of wealth it's all about value preservation, and not investing in something being so risky. Most people here have problems understanding that.

He has stated more than once that he likes to invest in stocks that allow him to earn passive income in form of dividends. If you combine the dividends plus the long term growth of these stocks, it's a winning investment strategy.

I'm sure that by the time Bitcoin has gone up and matured to where it's on gold's level, most large holders will follow a similar path, while the younger and less wealthy people will expose themselves to more risk because there is less to lose.

Daniel91

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Quote from: TeQuiero on July 08, 2019, 10:38:25 AM

Quote from: Daniel91 on July 08, 2019, 09:53:23 AM

In my opinion, Warren Buffett hate bitcoin because it's a way for many ordinary people that without trading knowledge become rich.
He thinks he is big and wealthy, most successful in his work and now some kids get rich overnight thanks to bitcoin

He is trading on the stock market whole life and become no. 1 and I don't think he is willing to change, understand and accept new things.

So damn true. Imagining you've spending all of your life, experiencing a number of times on the verge of bankruptcy to become so called "legend investor". But some day, many people of your grandson's age become millionaires or even billionaires without any knowledge about finace. How unfair! I think jealousy is the main reason behing Buffett's hatred on bitcoin. He can't stand the fact that many many people are becoming rich from bitcon.

I believe he thinks that with the recognition that bitcoin is something serious, and a good investment opportunity for earning, he would seriously undermine his reputation.
In the investment world, reputation is everything.
When people lose confidence in your judgment, you're done.

philipma1957

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Quote from: livingfree on July 09, 2019, 11:20:26 PM

Quote from: philipma1957 on July 09, 2019, 04:26:26 PM

Quote from: livingfree on July 09, 2019, 01:13:13 AM

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.

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.

That statement was from last year.

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.

NathanJB

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Quote from: omone1 on July 10, 2019, 01:23:18 AM

I will really doubt Warren Buffet doesn't understand somethings about bitcoin since bitcoin has been making waves and have over the years made people multimillionaire. I think he just choose not to support the idea for the time being, probably he feels it's going to give too much power to the people.

I think so. Warren Buffet, one of the world's richest man not having heard of Bitcoin? I doubt. Bitcoin must have already reached every billionaire's ears. It's just that Bitcoin is never Warren's cup of tea. We all have our own way of interpreting opportunities and trend, and Bitcoin is apparently something unconvincing to this old man's taste.

dat.ho12492

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Quote from: Sithara007 on July 09, 2019, 11:23:48 PM

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.

Even if he missed that ship, he is still a very rich man, his wealth is something that many people can affirm, he does not need to be angry because he missed a train, it was unnecessary, he understood the nature of investment. Therefore, he hates bitcoin is an unreasonable thing, this could be a joke or even a trap to distract, even increase the popularity of bitcoin, helping Bitcoin increase while he has accumulated a lot of bitcoin for a long time, for investors, they are only interested in profit, no hate or love

omone1

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I will really doubt Warren Buffet doesn't understand somethings about bitcoin since bitcoin has been making waves and have over the years made people multimillionaire. I think he just choose not to support the idea for the time being, probably he feels it's going to give too much power to the people.

Ridwan Fauzi

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Quote from: Alexandir on July 08, 2019, 08:47:55 AM

If you understand the evolution of money and tulip investing, it all makes sense.

I have a girlfriend and she leaved me just because her parent didn't like my job as an investor/trader bitcoin. The reason is so simple her parent didn't know my job because and told her to find another man who has a real job such as government employees, company employee or even a teacher. Whilst I have bought a house, car and everything from the income I invest/trade in bitcoin and I was told to them also, but they are never understand it.

This case has something to do with Warren Buffett's view of bitcoin. The old person will have a difficult way to understand bitcoin, they will ignore bitcoin because it is not real. Indeed, Warren Buffet is successful person in the field of investment, but only on convensional investment place. You can think how difficult a younger man to know bitcoin and try to invest in it, moreover for old man I guess he will never understand it.

nh0xxpr01

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He hates the thing he's afraid of. That's the main reason I guess.

Sithara007

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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.

livingfree

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Quote from: philipma1957 on July 09, 2019, 04:26:26 PM

Quote from: livingfree on July 09, 2019, 01:13:13 AM

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.

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.

That statement was from last year.

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

amyshek1979

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He's afraid of btc, the new technology he doesn't know. Or he's just a fool.

kaya11

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Quote from: Alexandir on July 08, 2019, 08:47:55 AM

If you understand the evolution of money and tulip investing, it all makes sense.

We can not blame him, he makes sense, buying something that comes from nothing that you expect other guys would buy it for more is totally insane. How could somebody like me and other people out there that have less knowledge sand thinking skills could fully understand and and fully gain profits from Bitcoin? In fact you might not know either, but warren have his own beliefs so as we, we are expecting Bitcoin to be something worthy later on, we have the the guts to trust on something that is unpredictable that kind of guts is not present to any other businessman like Warren, in short they are mostly rich currently or so we our only commoners who aim to get the wealth of someone's legally through Bitcoin.

Altero

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It has to think that BITCOIN is a big investment and can be a big competitor in the market.
Why Warren hate bitcoin is just because they want people not to invest with Bitcoin and the purpose is to make them sell and catch those.
He only wants to make an unfair play will the market, he is one of the crypto whales.

angelo2

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He's a strange person that's why I have no idea. Maybe it's just a fear.

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