Bitcoin Forum

After going against bitcoin and making a comparing with rat poison, people are trolling Mr. Buffett. But I think this is not fair. Since he is one of the greatest business magnets, people should respect him. I do believe that one day he will change his mind and opinion regarding BTC.

If somebody as "big" as Warren Buffett tells something this bad about a company, it's expected the shares of that company will drop.
There's a chance that his words made some people change their minds about Bitcoin and crypto.
Was this fair? Was it OK to open his mouth and tell such things without properly understanding this? No.
Many people or companies have invested a lot into Bitcoin and other crypto and such declarations hurt their investments. I find it normal to fight back.

This is not a children game, it's about a lot of money. And Warren Buffett knows that. Maybe he was not expecting this (trolling), but it's just a normal reaction. I don't find it "unfair".

Warren Buffet himself will troll you if you make such despicable comparison of him. His words are really offensive and damning. He is entitled to his opinion though, but he should have done so with utmost sense of responsibility.

I completely agree with your point its not about showing his Ego or some childish behavior while lots of investors involved in this . I think he is knowing the market by giving this kind of statement market will fall for sure . Then he might enter crypto market . its also possible.

Respect is earned, if you choose to respect someone like him then that is your choice.

I have no respect for someone who accumulates more wealth than he and his family would need for 10 lifetimes, someone who uses his influence by making comments like that knowing fully well that it would impact the market in a negative way, knowing fully well that something like that could have a negative impact on many peoples lives. Mainly people who are not financially secure. All people like him care about are their own interests.

problem with buffet is that he wants to have all americans live as money earning cattle defined and rulled by the broken bankster cartel, so buffet and his properties are like passive income sources enriching him.

if anyone is stupid or acts stupid, we can overlook it, but when he attacks something that he has no idea about - it's very natural to troll - he was also wrong about Google and Amazon (and also, his speeches shows that he has very little knowledge about tech) - people are just reminding it to him.

Mr. Buffett is my one of the most favorite personalities in business. His comment on bitcoin made me very sad but i hope that, in near future he will start appreciating bitcoin more.

Yes of course, you cant say for now due to its decreasing market value but you should be patiently waiting because most crypto are designed for long term investment.

He would start giving positive comments if he is ready to sell some. IMO, Warren Buffett is covertly involved with bitcoin and is hoarding it little by little. When the time comes that he wants to sell, I think he will appreciate it. In the future, he might even say that his past opinions about bitcoin is wrong.
For now, I think what he did is worth trolling because it is shown in his statement that he only cares about himself. Like what this user said:
I think he expected being trolled though.

It is true that his speech is very influential because he is an influential person in the economy, and yet I believe that he will someday change his statement, and he will use bitcoin.

The founder of a crypto-mining company says he installed billboards trolling Warren Buffett, so very notunfair :D

bitcoin miner lobby are also just trolls

I am a big fan of the Oracle of Omaha, but I think Warren Buffet wouldn’t mind the criticisms. I’m pretty sure he made some bad decisions before. The ability to learn from their mistakes and use the setback to their advantage made these people what they are today, billionaires.

trolling against buffet. saying he is wrong is the worse strategy ever.

first of all it was the interviewer that brought up the word "rat poison". by quoting charlie munger from 5 years ago

fox news interviewer: "about 5 years ago we asked charli munger who was sitting right there when talking bitcoin, and he sais 'rat poison' back then it was about $100+, now its sitting at $9000, is it still rat poison?"
buffet "well probably rat poison squared"

https://www.youtube.com/watch?v=mldCPQ4ypYM

firstly
100*100 = (X²) = $10k .. so his maths is near, if like him you like to round up

secondly
bitcoin is rat poison. if you know who the rats are.

thirdly. buffets maths proves he love poison..  Roundup^(R) is a weed poison
:D

..
later on buffet explains that bitcoin is an asset. but is not a productive asset like a farm. where you can hold X(farm) and each year it also produces Y(corn) meaning you can sell Y and still hold X and profit even more when you finally sell X
bitcoin is like a gold asset where you hold X(gold/bitcoin) and while holding X it does not produce Y, but you can profit if you can sell X(gold/bitcoin) for more

https://www.youtube.com/watch?v=LtITDtZPYEw
the interviewer mentions charlie mungers updated thoughts on bitcoin. whereby charlie munger calls bitcoin a turd.

which. in crypto. there are many turds(crapcoins) which have no purpose or desire and just get excreted out in the hopes someone else will be left holding a bag of turd(crapcoins).

so this is why bitcoin needs to keep its original ideolisms, purpose, function. which is to be a open barrierless option to oppose fiat.. not to simply become fiat. because if bitcoin becomes fiat, why would people use it.

bitcoin has always been with drama and people involved it bitcoin love the drama apparently. that is why there is a lot of this type of back and forth in the media and I mostly blame the news sites for exaggerating and changing the truth about things and then spreading it everywhere as others keep copying and quoting them.
as a result people don't listen to the interviews, they just read the articles and then answer the articles not the interviews or the person!

I don't agree with you. Warren buffet does not hold the authority to mock about any cryptocurrency. Moreover, his words were shaming and offensive.

There is no sense in defending Mr. Buffett, he knew what he was doing, it's a kind of PR. Late he was a casual super-magnat, now he's a well-known and discussed super-magnat.

I think any super magnate that does not respect himself should not be surprised if he ends up being a figure for trolling. He should be wise enough to know by now that you cannot discard the possibilities of cryptocurrency.

Mr. Buffett always criticize crypto market that’s why some peoples are making troll to him but i think it’s not fair. Because he is a public figure. So we need to respect him.

Sorry but, are you Mr.Buffet and a little angry? Just needed to ask... I guess he is able to handle a little trolling, hes a big boy.

He's talking about bitcoin without knowledge, what kind of people is he think he gonna get away with this? he mess up with a wrong business that's why he's getting what he asked for.

I don't either, and I'm sure Buffett won't be aware of what we think of him or care even if he did become aware.  He's a success by pretty much anyone's standards, and by all accounts he's a really good guy.  I have a great amount of respect for him and don't really care if he states his honest opinion about bitcoin.  He does not need bitcoin and doesn't think it's useful and that's fine.  I don't feel that's any reason for people to bash him in turn, because the man is exceedingly smart and may just know what he's talking about.

I think it would be foolish to dismiss him just because he espouses an opinion that you might not agree with.

Yes, From my perspective its should not but he did troll about BTC and crypto system which is also unfair so based on this problem occur but we are social being and we have some norm to follow though he criticized the users and users also reply rapidly and this answer make him stop to taking about this market. We should respect him as a business leader.

Does that particular billboard poster really constitute "trolling"?  I figured that was just a word the media went with as a clickbait headline to attract more readers.  The wording of the billboard didn't strike me as overly provocative or inflammatory.  Mildly confrontational and direct, perhaps, but not what I'd call trolling.  And it was certainly more politely worded than anything Buffett has said recently.  This is just the internet making a big drama out of every little thing.  Abject sensationalism.

If Buffett can express his opinions, other people can express theirs in return.  Sounds fair enough to me.

Besides that, I'd imagine the guy has a pretty thick skin, being as outspoken as he is.  I'm sure he can handle it.  It's not like he's going to burst into tears because someone said "maybe you're wrong" on a billboard.

Recently we have seen that bitcoin is getting popular day by day. In the past, it was considered as a fake coin but bow different governments are using bitcoin for their day to day purpose especially for tax collection. It has shown its potentiality and has earned a lot of trust. But there are few people who still think that it is a fake coin. Everyone has their own perspective so we should not be bothered about that.

Agreed with you. I think trolling him will not bring any good result. Rather we should comment him positively so that he re-explores the crypto industry.

Again, there was nothing particularly negative about the billboards.  Plus, he's shown no inclination whatsoever to look at crypto in a positive way.  I doubt there's anything that any one of us could say to him that would convince him to reconsider his stance.  He's very much set in his ways, which is understandable.  It's not like he's suddenly going to "get it" one day and think it's a great idea after all.

If anything, I'd assume the billboards aren't even aimed at Buffett.  This was likely an attempt to appeal to the wider public who see the billboards and suggest that they should explore the crypto industry and not just dismiss it outright because Buffett said so.  Think of it as a publicity stunt to change the average person's perceptions, since it's clear Buffett isn't getting the message.  Appealing to him is a bit of a lost cause at this juncture.

Different people has various sort of perspectives regarding bitcoin and crypto currency as a whole. So, I agree if someone shows negetivity you reply them showing disrespect. Rather their reply will be the real work. When crypto currency will fame throught the world, he himself will get fame for it. :o :o

If he makes stupid comments like that then he deserves be trolled. The man made his money in a different era, and now he is trolling the entrepreneurs of the new world by saying our investments are akin to rat poison? Pretty stupid comparison in my opinion. Yes he's a hugely successful individual, but that doesn't mean his opinion is valid for all fields.

I am always against disrespecting someone unnecesserily no matter the person is rich or poor. Buffet has just placed his opinion and everyone should respect it. But Buffet also should have been more careful while commenting on such a big market. He should understand that it might hamper their reputation. ::) 

Absolutely agree with the opinion of OP. Just because Warren Buffet has a different opinion about the crypto industry, no one should troll him. In fact, His investment strategies work perfectly even in the crypto market and hence we can not raise any objection to his sense of investing. I appreciate the constructive criticism as it helps everyone to grow and if someone is coming up with a good argument to counter his opinion then it is completely fine and always appreciated.

It is true that his statement is very influential. Because he is an expert in the economy and he is called an economist. I think he realized its importance and would come back to bitcoin.

I am a huge fan of Mr Buffet and do follow his advice on buy/hold great companies.  I also understand that he is never going to know every possible emerging markets and opportunities.  It was slow for him to jump on the tech bandwagon, so I would imagine it will be a long time before he supports the crypto train. 

I think that this is the problem. Many people follow his advises when they want to invest and his "opinion" may hurt Bitcoin. Just read fully my initial post and think a little on this scenario: let's find out a company Mr Buffett has big amounts of money invested in and start spreading about it. And since we are small and unknown, we will have to do this all of us. The shares may drop, Mr Buffett may lose money. Will he like our "opinion"?

So, again, there's a big difference. I have no problem if he's wrong about the weather or the size of the universe. But he should not bash an investment he doesn't understand "just as an opinion".

interesting enough when I checked some stuff out about him talking about bitcoin I realized Warren Buffet is not exactly "bashing" bitcoin for no reason. for example the "Bitcoin Is Rat Poison" thing that was being spread all over the internet last time was not what Buffet said! it was what the reporter told him which was a quote from someone else who said it in 2013 if I am not mistaken! then the media went crazy and started saying Buffet called bitcoin a "Rat Poison".

The most appropriate response from him should have been, "Listen, I do not know enough about the technology to give an informed opinion on the subject....." but he simply went out and compared it to rat poison. Why would someone like this go out on the limb to "attack" something that he knows very little about? <Do not tell me that he has intricate knowledge on how Bitcoin work>

He saw the financial impact on his business, if Bitcoin succeeded and he went on a full offensive and public attack against Bitcoin to influence people into believing that it is a scam. <Scared that his share price will drop, if people invested in Bitcoin and Crypto currencies>

Maybe he was not expecting this (trolling), but it's just a normal reaction. I don't find it "unfair".somebody as "big" as Warren Buffett tells something this bad about a company, it's expected the shares of that company will drop.Mr. Buffett is my one of the most favorite personalities in business. His comment on bitcoin made me very sad but i hope that, in near future he will start appreciating bitcoin more.

When it comes to Mr. Buffett, I always think of him as one of the FUDer. Maybe he just wants Bitcoin to get low so he can buy lower. He's one of the influential people I looked up to so I Don't want to hate him. But the mood is serious, people who are in Bitcoin keeps trolling him and I can't blame them. One of Mr. Buffett's favorite quotes applies to him right now.

 It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.

The media does this kind of stuff all the time, since all they care of is the sensational, which translates in more views and bigger revenue.
But Buffett knows this much better than you or me and I don't think that he can get attracted in such game too easy if he doesn't want to.

It doesn't matter if there are people who are trolling Buffett, he's even trolling the bitcoin market so what seems to be unfair on that thing?

We all respect him as the one of the most successful investor and entrepreneur in the world but this is a place where it's all about money. People are trolling him because his pulling down their investments so we can't blame them.

I think it is normal in our era. Also Mr.Buffet is the person who is famous for his speeches and quotes about business and crypro.

Legendary billionaire investor Warren Buffett turns 87 on August 30. With a net worth of $ 77 billion, he's a talented entrepreneur.
Warren Buffett has accumulated $ 53,000 at age 16 with all sorts of things

Warren Buffet is an entrepreneur, so anything he says about trading will affect the public.
Warren Buffet's first statement about bitcoin is true, bitcoin is made not for investment but as a means of payment. Bitcoin prices are determined by people. The greater their desire to buy the higher the price. So it can be concluded that bitcoin prices are strongly influenced by market demand.
However, Warren Buffett's second statement about "Bitcoin is rat poison", I think it's just a trick, because Buffett once said that if he could buy five years using every crypto currency he wanted to do, but he would never lose a cent.
He may have bought bitcoin cheaply and tried HODL for a long time, so when he's ready he'll make a good speculation about bitcoin and when the investor already believes he'll sell his bitcoin at a high price to make a profit for himself.

agree, all i can see is many young people together bullying an old man, i mean even if he's wrong, it's his opinions, like you have strong positive opinions about bitcoin and no one is allowed to complain, same go to him

Just like your belief,im also hoping  that those statement of Mr.buffet that he compared the bitcoin just like rat poison would change,and he admit that into himself,that he mistaken to underestimate the digital currency investment,and he afraid that because he thinks that cryptocurrency is a rival to his personal bussiness instead it will help to make more economic growth by collaborating each other his bussiness and the cryptocurrency investment.actualy i admire him as a person with a words of wisdom,but sometimes  a teacher or guru can create a mistake into his own words.

Just something to nibble on :

It took Warren Buffett a mere two minutes to earn the average annual income of an American household.

He earned US $13.5 billion in a year, which totals to US $37 million per day, just over US $1.5 million per hour and slightly above US $25,600 per minute.

Sourced -:-  https://www.stride.ws/blog/warren-buffett-income-comparison

He is playing with Bitcoin users, like a fat cat would be playing with a mouse! ^grrrrrrrrrrrr^

Disclaimer : This is based on his shares value, not his actual income.

Michael Buffet biggest regret was not investing in Google and Amazon. Mr. Buffet is a traditional investor, not a techie man he is afraid of investing in stocks he doesn't understand.

 ;) ;) I agree with you. One day he broke the mistake. I do believe that one day he will change his mind and opinion regarding BTC  ;) ;)

It is true that his statement is very influential. Because he is an expert in the economy and he is called an economist. I think he realized its importance and would come back to bitcoin.

I just did a little speculation how he said something bad for bitcoin so the bitcoin price fell deeper and he took it cheap, when a nice moment came he would say and be aware of his saying that bitcoin is a good investment for the future, that's just some basic speculation I just see it interesting but I'm not too taken seriously in this case it's up to him to say whatever bitcoin will still live until later

When people are rich, they say what is right.

Just because someone is a big shot in one field doesn't give them power to talk shit on things they don't fully  understand.
- Would I respect if Buffet had done his due research to understand all technicalities before speaking about Bitcoin? - Yes
- Would I respect him for talking shit about Bitcoin without making any serious effort to understand it? - No

What's not fair is actually Warren buffet saying something bad about bitcoin. As what you said he is one of the biggest magnates in the world, and his words can influence so many people and that can change their mind about bitcoin.

this man is very peculiar! but to his opinion a lot of people listen! he does not always say what coincides with public opinion! but do not forget how much he did and predicted about the crypto market!

Could you expand on this insight in more depth?

Buffet does not understand btc, he probably said the same about microsoft and amazon at the start.
Buffet probably does not care at his age and with his wealth about anything as much as you may think. A bit of trolling won't matter to him I'm sure.

Bitcoin is not subject to the laws of the stock exchange, so it is very difficult to analyze for a long time. Mr. Buffett understands this perfectly, and does not consider Bitcoin an object of investment.

He has achieved a lot of money but does not mean that he is right about everything.  He might not have done much research about it.

Guys like Buffet, only go for real value of product, a product that you can see and touch. We alone that BTC is too early in the game. If few country decides to shut it down, it will fall like pack of cards. It has no backing as a product.

I believe that if someone goes out into the public and says something in the open, he should be prepared to face the consequences. Like if he told his secretary that BTC is a piece of crap and she went on to the media with that info he should not be trolled, it's all on her. If he does that he should be ready for a backlash, that's how it works. You go into a church screaming "god is dead" and you'll get screamed at and called names, that's how it works. I wouldn't defend Warren because he's being too vocal about it. We all knew his stance years ago and he still keeps coming back repeating it. He must have a business in doing it.