Bitcoin Forum

Hello,

I had read a few months ago that many people like warren buffet had bad perspective for cryprocurrency. He said that bitcoin will have a bad ending.

Do you think it's proper for him to gave a comment like that?

IMO it's not proper. Even if he was an expert in stockmarket but he was commenting on cryptomarket.

It's like an Electrical Engineer questioning the structural integrity of a building design by a Civil Engineer.

Of course it's proper! The guy, and his sidekick Charlie Munger, are investment professionals. They have an educated opinion about investments that's worth hearing!

The only thing that comes off strange about their comments is how uneducated their responses come across. They clearly don't know much about cryptocurrency or why people or we believe it has value. It makes them look somewhat foolish...but I still respect their opinion.

Do you think they are doing that to manipulate the price and bought at the botttom?

Although he is an expert in stocks I do not think it's worth expressing, I think it's just one of his ways to create a stylish cryptocurrency market and a decline in prices and at that time he started taking the opportunity to buy at low prices.

Times without number this has been said price is not determined by our individual thinking neither by the comments of what someone is saying in itself rather its the response of the market to such comments. Warren is no doubt a formidable force in the world of finance but that does not give him proprietary knowledge about everything and definitely not crypto. He has made his point which is entitle to, it is then left for us participant in the market to either prove him wrong or right.

On whether they are doing that to manipulate price to reach the bottom so they can buy, I would doubt that on Warren because I don't know which money he wants to make that he hasn't make before and if he decides not to make any comment, he is settled for life. Whether they manipulate or not, the question is what are you doing about it? Waiting for the price to rise and blame "them" or seizing the moment?

I can't compare the two topics. Bitcoin is much more difficult to trade now because it's very new. Warren Buffet is with the old clunky stuff.

Wether he's comment is against or pro in cryptocurrency, we should respect his opinion. I also consider his comment in crypto but I did not support his opinion. I have my own way of speculation and as a crypto enthussiast, we must not easily grab by others speculation but we should make some research im avoidance in confusion.

It's just the way they spread bad news that made panic a lot of people and when it happened the price drop and he took the opportunity to buy bitcoin and bad news news like that has happened so often and actually it is inappropriate to make comment.

it is proper for them to comment on crypto markets because they are educated professionals in a field which is so much harder than crypto world and people like him has very huge influence in this markets, so it is worth giving a hear to what they say but not believe in every word of them.

Warren Buffett made his money by finding the safest investments and slowly building up his wealth consistently over a period of decades. That describes his approach to investment decades ago and its still the same today. Bitcoin being a new emerging technology which is relatively untested there is likely zero chance Warren Buffett would ever invest in it. Slow and steady is his signature move. I don't think Warren Buffett has ever invested in something new. He tends to favor tried and tested technologies which he believes are undervalued and have a good growth potential.

It is true that equities markets where Buffett made his money, valuate differently than precious metals or crypto currencies like bitcoin. There is the P/E metric in equities markets which could allow a better price/value approximation. Gold or bitcoin have no similar analogue. To some degree: you're right that Buffett is commenting outside his area of expertise. Also Buffett isn't someone who invests in new technologies and so one might criticize him there, too. He's not known for having skill or experience in recognizing good emerging technologies to invest in.

Buffett has always attacked gold and investments other than equities markets. Its nothing new from him.

It's not necessarily improper, it's just a question of whether or not there is any merit that should be placed on the individual's comment. This comes down to a bunch of factors like the success of their personal lives, and a lot of that has to have been done on their own accord. If they have other decent insights for another similar subject manner then there is a decent chance that they have something to say that's worth listening to.

I personally won't listen to what he has to say for now.

He's a very old man (87) and he has said repeatedly that he doesn't invest in stuff that he doesn't understand.

During the dot.com boom in the 1990's he thought it was all hype and refused to invest. And from a financial point of view he was right to do so, because 90% of the dot.com stocks being touted were rubbish.

What he missed was that internet tech was transformational and not a fad. He missed taking a punt on Google and Amazon and others. And he didn't understand the detrimental effect that the net would have on businesses he was invested in (like the Washington Post, whose whole advertising model has been thrown out of the winder by Google and online ads).

He's basically doing the same thing now - he doesn't understand cryptocurrency, he thinks it will crash and burn. I don't know if he realises that the tech is transformational, but from his point of view, if you can't tell which are the winners, better stay away from it. Which is fair enough.

That's not worth it, it can only lead to price turmoil in the market that resulted in the declining bitcoin price Because of the panic selling bitcoin.

NO.

Their role as investment professionals in the US and the world means they have a duty to be conservative and thoughtful in the investment ideas they publicly tout as "good". Many, many people read and follow their investment ideas. If they were to come out and say "Bitcoin is risky but has had phenomenal return in 2017" they could inadvertantly persuade many, many people to buy Bitcoin. This fact of their expertise and public role on the world stage requires they be careful with their public comments.

But, I genuinely believe they are against the idea of Bitcoin and cryptocurrencies.

https://media3.giphy.com/media/D0CdAhLDkmhEs/giphy.gif

Fucking fossils

Given such comments will lower the bitcoin price, but the decline in bitcoin prices is not a bad thing for us, because we can start buying bitcoins at low prices because of bad news stuff.

I'll say pretty much what I said in the Charlie Munger thread (https://bitcointalk.org/index.php?topic=2955062.msg30343786#msg30343786), which is that these people are only ever going to understand the very shallowest depths of what little they've been told about Bitcoin.  Chances are, the only thing they've absorbed into their brains is that it's a speculative asset with no backing from any company or government that way too many people are portraying as a get-rich-quick scheme.  Based on their background and their limited comprehension of what Bitcoin actually is, why would they want to invest in something like that?  

It's all a question of perception.  Anyone who truly understands Bitcoin will often see the value in it (and I don't mean the fiat "value").  But if all you know is what you've seen and heard in the media, along with the gossip and half-truths from a bunch of people who are also listening to uninformed fools, then naturally you've got no hope of appreciating what the people who aren't selling for fiat see in it.

Warren Buffet is a famous person and a big investor.

He is also very old and does not understand Bitcoin. His advice on stocks and old investments is good but cannot be trusted when it comes to Bitcoin.

Stock Markets like Buffet are dinosaurs ,

Crypto is the future.  Buffet is irrelevant , which probably bothers him, so he insults what he fails to understand.  ;)

buffet, Dimon, jak ma and other big investors who have commented in bitcoin and cryptocurrency have the right to say what they want. As they study the economic and financial market for long time with their expertise in in financing and investment many of their statement affect the market as they have many followers (count me in). I don't believe that they don't have knowledge about bitcoin and cryptocurrency, bitcoin now is a big thing that recognize by many people around the world, i believe that these people are protecting their investment. But for me it is proper for them to say anything about bitcoin. In addition I watch a video that Jak Ma say that he don't know about bitcoin, but he is looking forward in the blockchain technology.

he's a value investor to the core. for someone like that to not be convinced by bitcoin is perfectly understandable. it produces no yield or income. i've never heard him speak much about gold or forex either. again, that's not his domain.

anyone who doesn't think these prices are 98% speculation or more is not being objective. of course they are. it's down the people working behind the scenes to get some fundmentals going to match it or he may well have a point.

what he isn't talking about is the network effect and that's similarly applicable to the tech stocks he eschewed back in the day. that's something a traditional stock will never really replicate. it's incredibly powerful and deeply connected to anything internet related. these old guys don't seem to realise how that can be bootstrapped into monstrous returns.

as it stands right now most of the tech stocks are in the same boat even if not enough people are discussing it. stuff like snapchat or twitter still have a lot to prove when it comes to making actual money.

He is not sure of what he said because he himself admitted that he didnt know bitcoin or other blockchain digital assets. He swore not to buy bitcoin,maybe because he is rich already and he doesn't need it anymore.

I generally recommend that you invest. You can earn on any projects. The main thing is that the project does not turn out to be a fraud.

I guess they've done their research about cryptocurrency and found some flaws about it. We have different opinion about cryptocurrency even though you're an influencial person, it doesn't mean you're always right.

he's just the old man with the sea. He said he hate bitcoin but maybe he own a huge bitcoin. He said that because he want to give bad market news and make bitcoin price go down, so he can but it much more. And then he sell in high price. He's a shark :D :D :D :D

When some celebrity talks about Bitcoin, it's important to examine their arguments as if they were said by any other person, because it's a fallacy to think that if someone is successful and smart, than they are always right. With this in mind, it becomes clear that most Bitcoin opponents are outright wrong in their thnking, like for example Bill Gates who recently said that cryptocurrencies are bad because they are used to buy drugs. If you want to form your own opinion about cryptocurrencies, you should start studying cryptography, math, game theory, programming instead of listening to what other people say.

It started by the name “expert” that reminds me,, those who were selling they’re opinion depending on the price and will have a percentage of it..  Money seems vital in that work,, you’re the spokesperson of the businessman who pay you.. Your the mouthpiece of the oligarchs who badly against the popularity and undeniably the existence of it..

Let the expert do the talking and ignore.. They are biased as shit like a journalist..

You've hit it! Yes, even though they are very popular and influential, it doesn't mean that they know everything. Those are just their opinions and each of us are entitled to express our own point of view. It's ul to you if you will follow them or not but I have high hopes in crypto!

Actually its true, well in fact there is no such thing as good ending in a company/institution since it only means that it will be gone because company exists to compete and survive the market where it belongs.

he is an expert buismen but he has no knowledge about blockchain.thats why he said about bad ending

Everyone has his own opinion regarding bitcoin, we should not take comments in negative way.Warren Buffet, Bill gates, jack ma these are the big whales of financial market, they have their own experience, we should respect their opinion and also try to understand the reason for their negative comment.my opinion is , if a person is successful it does not mean that he know everything, we should apply our self mind and then take decision to invest,but always keep in mind the comments of successful people in positive way.

well it certainly is not an ethical move and you can even call it dirty tricks to manipulate the market but he did it properly and in the market everyone is at each other's throats. nobody is helping others to make more money or be successful, everyone even a millionaire like Warren Buffet wants to make more money and wants to do it alone.
and since he can not buy millions of dollar worth of bitcoin overnight so he has to manipulate the market and keep it low as much as he can so if it takes him to spread some FUD about it and put fear in some people's minds he take advantage and does exactly that. and guess who will be the biggest whale in bitcoin after 10 years?

having an opinion about bitcoin is one thing and being uneducated and telling your uneducated opinion to others is another. you shouldn't confuse the two of these. and Warren Buffet's opinions have always been uneducated ones, whether he understands what he is talking about (meaning intention FUD spreading) or he is just outright wrong remains to be seen in long term because eventually we will always find out whether they have any bitcoin or not. for example we saw how JP Morgan have been investing in bitcoin despite all the FUD they have been spreading.

My opinion is that they are just trying to manipulate the price increasing or decreasing and is not nice that they do this

Warren Buffett is the richest man in the world. He is the biggest investor. No doubt his success. But everyone has different beliefs, he has a poor perspective for cryptocurrency. Because this is not the work. he said bitcoin would have a bad ending, we were not desperate. Even he once said in his tips, we must dare to be different from the others. The point we must be optimistic do not pessimistic.