Bitcoin Forum

Warren Buffet was proven wrong.

He claimed BTC was not a currency since it was valued against the USD

Well now we have almost 1 Trillion in crypto Currencies

Guess what they are all valued in Buffet

BTC

The moron of Omaha was wrong

Almost 1 Trillion in crypto wealth now all valued as fractions of BTC

Lol

As much as I hate to be a party pooper, total market cap doesn't mean much. Sure, lots of new people getting in to bitcoin or other cryptocurrencies; but don't forget that most people get in just because of the hype and just because they think they're going to make money from this investment.

As shown with the current blockchain being congested, bitcoin isn't really a usable currency right now as we all know about the transaction fees. We're still yet to prove him wrong, hopefully in the near future.

he's so ridiculous. just the old man who is going to die ;D ;D ;D

Perhaps you could support your opinions with some facts and actual quotes?

Besides, a large number of the people here on Bitcointalk believe that Bitcoin is no longer a currency, but is now a "store of value". Are they morons, too?

Why the hate? The guy is entitled to his own opinion. It's not like he has an axe to grind against Bitcoin. He simply shared his views, and that's the end of it. I don't necessarily agree with him, but I still respect his views. He's different from FUDers like Dimon. He's just a non-believer, and nothing's wrong with that.

And regarding other cryptos' valuation against Bitcoin, they're still priced in USD for the most part. That doesn't mean Bitcoin can't be considered a currency though, as far as I'm concerned.

Now Charlie Munger has also lended his voice and he is in support of Warren's opinion. I am indifferent to their opinions though since it doesn't have any negative effect on bitcoin.

We should not be worried about the statement of Warren Buffet as the reality of bitcoin is totally different. It is growing and capturing market. I am very optimistic that one day, Bitcoin will rule the market. I wont mind if people say different things about Bitcoin. People believe what they see and reality is that Bitcoin growing day by day.

the people who say bitcoin is "store of value" are either saying it because the fees have been high for about a month. or there is another group who is trying to force feed us this way of thinking and prevent bitcoin from ever scaling and growing. it only started this year before the bitcoin cash and all the forking drama.

but fees doesn't change anything about bitcoin being a currency or not. worst case scenario you can say bitcoin is an expensive currency to use. besides fee problem will not last long, bitcoin will either die or fixes the issue. it can not be "store of value" alone without being a currency!

actual quotes? https://www.coindesk.com/warren-buffet-bitcoin-currency/ Mar 3, 2014
bitcoin transactions were free in 2014

Herbert, I am also a huge Bitcoin supporter, but I am not blind to it's current restrictions. Bitcoin will once again be a currency, when SegWit is fully implemented and the Lightning Network is running. We were around when transactions were done and the miner fees were merely a few cents.

You cannot expect people to pay anywhere between $6 to $30 per transaction and still call it a workable currency. NO micro payments are possible with Bitcoin any more.

Well, the growth of crypto is a slap to the face of everyone who said that it is a scam, a bubble, a fraud, etc. Maybe they ate their pride and now investing on it. Lol. Crypto currencies still has more to prove in the near future. More power to crypto world and more positive news to come for it!

eVerything that bitcoin is and still are is a testament and a slap to every person who ridiculed and have not even given a single thought to this cryptocurrency. THAt fact that it has raised its value to levels alamost unbelievably is an astounding feat

Your comment - and many with it the last few days in here - clearly shows that we are now in the part of the development called Return to "normal" as per the graph below. This is the Bull Trap before the endgame


https://i.imgur.com/GByDVwX.jpg

As long as bitcoin is used as transferring of account from one user to another, for me it is currency. The difference is, bitcoin is digital currency and it is reliable, timeless transaction and you can remit globally.
I just don't know why Mr. Warren hates bitcoin and some of the people are not trusting bitcoin.

By your definition then Pokemon trading cards are also a currency