Topic: Why Warren Buffett is an enemy of Bitcoin? Interesting!!! - page 2. (Read 3302 times)
Perhaps Warren Buffet has realized that his most difficult task is now to maintain his net worth, not increasing it.
the OP's opinion is valid. but there could be a different reason.
imagine you found out that a plot of land could potentially hold alot of gold. and the land is up for auction. one thing you would do is calculate its true potential and then look at the initial costs to get involved.
then what you would do is notice if other potential parties are showing interest.. and ofcourse tell them that the land may contain landmines, was a hazardous chemical disposal site. has no permissions for digging or construction.. you would find any excuse you can to persuade others to not bid for that land to avoid the competition of a bidding war, costing you more to get that land.
same goes for bitcoin. instead of him buying $10k of btc a day to try keeping a stable price of sub $600, with little to no competition. if he told everyone it was a great investment. major finance teams would be buying it up. and he would then have to pay $1200, $2k, $3k per bitcoin, costing him dearly.
the only time you see rich people tell the general public that its a good time to buy or there are positives to buy.. is the time these rich people are ready to sell.
imagine you found out that a plot of land could potentially hold alot of gold. and the land is up for auction. one thing you would do is calculate its true potential and then look at the initial costs to get involved.
then what you would do is notice if other potential parties are showing interest.. and ofcourse tell them that the land may contain landmines, was a hazardous chemical disposal site. has no permissions for digging or construction.. you would find any excuse you can to persuade others to not bid for that land to avoid the competition of a bidding war, costing you more to get that land.
same goes for bitcoin. instead of him buying $10k of btc a day to try keeping a stable price of sub $600, with little to no competition. if he told everyone it was a great investment. major finance teams would be buying it up. and he would then have to pay $1200, $2k, $3k per bitcoin, costing him dearly.
the only time you see rich people tell the general public that its a good time to buy or there are positives to buy.. is the time these rich people are ready to sell.
That's even more interesting. The plot thickens...!!
the OP's opinion is valid. but there could be a different reason.
imagine you found out that a plot of land could potentially hold alot of gold. and the land is up for auction. one thing you would do is calculate its true potential and then look at the initial costs to get involved.
then what you would do is notice if other potential parties are showing interest.. and ofcourse tell them that the land may contain landmines, was a hazardous chemical disposal site. has no permissions for digging or construction.. you would find any excuse you can to persuade others to not bid for that land to avoid the competition of a bidding war, costing you more to get that land.
same goes for bitcoin. instead of him buying $10k of btc a day to try keeping a stable price of sub $600, with little to no competition. if he told everyone it was a great investment. major finance teams would be buying it up. and he would then have to pay $1200, $2k, $3k per bitcoin, costing him dearly.
the only time you see rich people tell the general public that its a good time to buy or there are positives to buy.. is the time these rich people are ready to sell.
imagine you found out that a plot of land could potentially hold alot of gold. and the land is up for auction. one thing you would do is calculate its true potential and then look at the initial costs to get involved.
then what you would do is notice if other potential parties are showing interest.. and ofcourse tell them that the land may contain landmines, was a hazardous chemical disposal site. has no permissions for digging or construction.. you would find any excuse you can to persuade others to not bid for that land to avoid the competition of a bidding war, costing you more to get that land.
same goes for bitcoin. instead of him buying $10k of btc a day to try keeping a stable price of sub $600, with little to no competition. if he told everyone it was a great investment. major finance teams would be buying it up. and he would then have to pay $1200, $2k, $3k per bitcoin, costing him dearly.
the only time you see rich people tell the general public that its a good time to buy or there are positives to buy.. is the time these rich people are ready to sell.
Buffett is a good smart investor, but it doesn't mean anything he invested in will succeed, and anything he did not invest in will fail. It has been said above that Buffett does not like investing in technologies, may be he just doesn't understand them. Buffett has not invested in any smartphone companies, see how successful smartphones are now.
WB is not a bad guy in fact he admitted on several occasions that something is wrong with the system
He did not even state that Bitcoin was a bad thing, just that it was doomed. He may be right. He thinks the system is flawed, but may succeed in killing Bitcoin.
He did not even state that Bitcoin was a bad thing, just that it was doomed. He may be right. He thinks the system is flawed, but may succeed in killing Bitcoin.
Phenomenal rise of Bitcoin economy would actually mean fall of the traditional banking and lending systems. Berkshire Hathaway (Warren Buffett's company) is heavily invested in Banking and financial sector. Take a look at Berkshire Hathaway's portfolio here:
http://en.wikipedia.org/wiki/List_of_assets_owned_by_Berkshire_Hathaway
Another reason could be that Warren Buffett is a very traditional, old-school investor who probably does not recognize the importance of investing in new technologies. By looking at his portfolio, you will notice that Berkshire Hathaway does not own any stake in Microsoft, Google, Cisco or any other prominent tech company (except IBM which was founded back in 1911) despite the fact that these tech investments have been performing best over the past two decades.
That says it all..!
http://en.wikipedia.org/wiki/List_of_assets_owned_by_Berkshire_Hathaway
Another reason could be that Warren Buffett is a very traditional, old-school investor who probably does not recognize the importance of investing in new technologies. By looking at his portfolio, you will notice that Berkshire Hathaway does not own any stake in Microsoft, Google, Cisco or any other prominent tech company (except IBM which was founded back in 1911) despite the fact that these tech investments have been performing best over the past two decades.
That says it all..!
LoLz ...u got the basic and u know why it is buy time
Let others troll becoz Buffet said it is a bad investment
An old man who prefers not to invest in tech stuff says he doesn't want to invest in bitcoin and suddenly he's an enemy.
He'll have to finance his own bunker when the end times come because surely his face is on the dartboard of every libertarian's survival compound now.
Never cease to amuse, bitcointalk.
He'll have to finance his own bunker when the end times come because surely his face is on the dartboard of every libertarian's survival compound now.
Never cease to amuse, bitcointalk.
Here's what Warren Buffet had to say about Bitcoin:
to see the video, just Google
"Buffett blasts bitcoin as 'mirage':"
The way he talked gives an impression that he does not have full understanding of Bitcoin.
to see the video, just Google
"Buffett blasts bitcoin as 'mirage':"
The way he talked gives an impression that he does not have full understanding of Bitcoin.
Rich people always, without exception, benefit from the fiat money system
Fiat is a redistribution mechanism from hard working people to rich people. This is achieved via loans that are then leveraged to enslave people as tenants or workers.
Sure a gold based system also allows for rich and poor people, but not on the same order of magnitude. You cannot create 1000 ounces of gold from thin air, then build a factory or an apartment block, to let human cattle aka goyim, work for you.
IS FIAT GOOD FOR YOU?
If your investment income (interest, dividends, rent) is higher than your living expenses, then yes it is.
It is the 1% vs the 99% plain and simple.
PS W.B. is a great investor no question. But ask yourself, how can the price of a company that he bought (e.g. Bank of America) go up so much? The price could only explode because there is so much liquidity. So again the creation of money from thin air makes the rich richer, while poor people cannot afford to buy large quantities of stocks, and remain poor.
Fiat is a redistribution mechanism from hard working people to rich people. This is achieved via loans that are then leveraged to enslave people as tenants or workers.
Sure a gold based system also allows for rich and poor people, but not on the same order of magnitude. You cannot create 1000 ounces of gold from thin air, then build a factory or an apartment block, to let human cattle aka goyim, work for you.
IS FIAT GOOD FOR YOU?
If your investment income (interest, dividends, rent) is higher than your living expenses, then yes it is.
It is the 1% vs the 99% plain and simple.
PS W.B. is a great investor no question. But ask yourself, how can the price of a company that he bought (e.g. Bank of America) go up so much? The price could only explode because there is so much liquidity. So again the creation of money from thin air makes the rich richer, while poor people cannot afford to buy large quantities of stocks, and remain poor.
I read his book The snowball of life (very interesting book btw) in which he explains it in short: he only invests in companies he understands and have a (potentially) very broad market. He doesn't invest in software, but does in beverages, food, transport, etc.
Phenomenal rise of Bitcoin economy would actually mean fall of the traditional banking and lending systems. Berkshire Hathaway (Warren Buffett's company) is heavily invested in Banking and financial sector. Take a look at Berkshire Hathaway's portfolio here:
http://en.wikipedia.org/wiki/List_of_assets_owned_by_Berkshire_Hathaway
Another reason could be that Warren Buffett is a very traditional, old-school investor who probably does not recognize the importance of investing in new technologies. By looking at his portfolio, you will notice that Berkshire Hathaway does not own any stake in Microsoft, Google, Cisco or any other prominent tech company (except IBM which was founded back in 1911) despite the fact that these tech investments have been performing best over the past two decades.
That says it all..!
http://en.wikipedia.org/wiki/List_of_assets_owned_by_Berkshire_Hathaway
Another reason could be that Warren Buffett is a very traditional, old-school investor who probably does not recognize the importance of investing in new technologies. By looking at his portfolio, you will notice that Berkshire Hathaway does not own any stake in Microsoft, Google, Cisco or any other prominent tech company (except IBM which was founded back in 1911) despite the fact that these tech investments have been performing best over the past two decades.
That says it all..!
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