Bitcoin Forum

Warren buffet declared bitcoin as useless and strongly believes bitcoin and Cryptos will die in 10 years. He also thinks bitcoin is a terrible investment.

This guy has been right ALL THE TIME and is smarter than the piglets and peasants on this forum

Also confirms my theory that bitcoin has run its course as an investment

Don't underestimate him, Big money will now stay away from bitcoin and I speculate that the price won't return 500% or more

http://www.coindesk.com/warren-buffet-bitcoin-currency/

10 years?

I'm fine with that  ;D

It's disturbing, right?  ;)

Correct me if I'm wrong....hasn't Warren Buffet also hated gold and silver since - even before the precious metals bull run?  Also, isn't Warren Buffet a friend of President Obama?  Granted, he is a legendary investment manager, but I wouldn't completely trust him.

"This guy has been right ALL THE TIME and is smarter than the piglets and peasants on this forum"

That may be one of the dumbest things i've ever heard.

I want to say that he doesn't know Bitcoin enough, but I know Buffet doesn't say something unless he studied it. Its his core philosophy. He was also right about gold and silver peaking.

However as much as I have respect for Buffet, I think there is still a lot to go for Bitcoin from an investment perspective and it would have been a dream come true for me if he supported the crypto revolution.

Reminds me telco people and their pessimistic opinion about the new-born technology called internet ... now they do telephony over tcp/ip ...

 :P  

Brb cashing out all my bitcoin and gold cos warren buffet said so!!!

He hasn't got the nerve to say bitcoin will die in 2 or 3 years, but said 10 years instead. This shows he is not certain, so chose to put forward something vague.

He is right about bitcoin being a bad investment, but he wouldn't tell you he likes to buy bad investments when they seemed bad at the time, and sell them when they becomes good investments.

LOL, top holdings:

Amex
bank of NY
GE (has big financial arm)
Goldman Sachs
Mastercard
USB
Wells Fargo


And as far as I remember, he's never been that capable of evaluating tech -- he's thin and often late on tech... only getting in when the company is a force...

http://www.cnbc.com/id/22130601 (http://www.cnbc.com/id/22130601)

He has always said it doesn't matter what currency you use (or what the impact of inflation is) it is better to own a business than the currency directly in the long term. Because if a business is providing something of value they will be paid no matter what happens to be going around in terms of currency.  I agree that a currency can't be a good long-term investment (hides from tomatoes).

I don't agree that bitcoin or something similar won't be around though.  I do believe bitcoin or something bitcoin-like will be around for quite some time.  It has some key differentiating features vs a regular currency that is valuable.  

Troll.

EDIT : much much fail lol https://bitcointalk.org/index.php?topic=498387.msg5491588#msg5491588

Cosmo for some reason always addresses everyone here as pigs and peasants don't take seriously lol

This is big news I think because a lot Of wall street types listen to buffet

83 year old man with very limited interest in tech companies isn't phased by 5 year old tech.


well fuck me that's a surprise.

Warren Buffet hasn't been right all the time, he probably never invested in any startup and any internet business

He bought low because he had informations and he used his cash flow from the insurance business to build an empire, he is a great investor and it is not nice to hear he thinks that about Bitcoin but he is wrong

He told us he never would invest in derivatives - these are weapons of mass destruction.

Then he did.

  Bahahahaa, no wonder

Cultists hard at work..Funny how people are trying to undermine Buffet. I bet that the same people would praise Buffet if he would of said the same thing with an understandable positive note.
10-20 years is actually an over the top positive speculation. I'll be surprised if Bitcoin will be used by the wider audience after 2-3 years. 10-20 years would mean total stagnation on the entire field. You can expect this slow development in the field of optics, not software engineering.

And bitcoin is a bad investment, but it can be a good short-term gamble.

Meanwhile bitcoin increase its value to 620.

Yes it is truly a bad investment, it makes traditional investments look like fail :D

Warren Buffet may be a genius when it comes to buying, renovating, and selling property. He is good at these things and it has made him very rich.

It does not mean that he knows shit about technology, much less cryptocurrency.

I consider his opinion to be somewhat interesting (like watching a train wreck), but ultimately worthless.

I just spent a couple months in Kenya. I can see how popular M-Pesa is there. I was walking with my youngest wife and she said that she wanted a coke, so I mentioned that neither of us had brought no money. She said no problem, walked into the nearest store with an M-Pesa sign (there are a couple every block on the main streets), did something with her phone, and they handed her 500 shillings.

People in Kenya are already using electronic currency everywhere. My wife pays her electric bill with it. She sends money to her parents using it. Some of the buses even use it. My wife is even using her phone as a wallet.

Bitcoin will work so much better here (and the rest of Africa - everyone has a cell phone) in place of M-Pesa. It is the future.

The only good investment for Warren these days is Depends and applesauce.

Myself, I have the luxury of a few more years to wait.

Warren Buffet says tax the rich, but sterilize the poor
http://www.lifesitenews.com/news/warren-buffet-says-tax-the-rich-but-sterilize-the-poor/

"There's class warfare, all right," Mr. Buffett said, "but it's my class, the rich class, that's making war, and we're winning."
http://windowintopalestine.blogspot.de/2011/02/my-class-rich-is-waging-war-and-winning.html

He might be right, he might not be
He is not always right as history shows

This depends on us too. I believe they will win.

be greedy when warren buffet is fearful, and fearful when warren buffet is greedy.

i'm buying more.

When an investment runs its course, only peasants and pigs (ie all of u) are buying. Its a fact

LOL, I like how he said "bitcoin may not be here in 20 years"

What he meant was he would be dead and cold in 20 years so if hes wrong its no big deal because he'll be dead already.

Bitcoin will be 100K plus in 10 years.

The price goes up and the FUD spreaders come out...

Misleading thread title. This is not "urgent news".

Since the creation of Bitcoin, both Bitcoin and the S&P 500 have outperformed WB.

Maybe times have changed. He's 83, he should move on.

My holdings include both Berkshire Hathaway and Bitcoin.   8)

The Bitcoin roller coaster may come off the track, but it's one ride I'm not going to miss!   ;D

This quote right here makes me wonder what the heck you're doing on this forum? "All of u"? Insinuating that you don't own any BTC. Oh yeah, that's right. You're the one trying to start panic sells so you can buy in low. At least that's how you come across in every single post you make. I have an idea. STFU and GTFO, I'll be using the ignore function for you, you've lost humor value even with your broken record (old technology, you may not get the reference) habit.

Thralen

the second comment under the article is one of the most important points regarding valueation of bitcoin in special and cryptocurrency/finance in general.

i can tell you as economist it is extremly complicated to classify bitcoin: it is not a real currency (I personally like his argument on that, much better than the argument of non-stability), it is not a real corporation due to the lack of getting revenues

but all of that does not disqualify bitcoin or cryptofinance: to keep it simple bitcoins are scarce and they fulfill functions - this will give them a price.

economist still do not have parameters to classify cryptocurrencies, that will change within quite a short timeframe, trust me

The difference between Buffet and regular investors is that Buffet will be bailed out by the government when he makes wrong investments and can keep his gains when is ahead. So he always is the winner.

He lost billions of dollars on ConocoPhillips in 2008.  He might be right about the bitcoin though.  In 10 years, there might be better applications of the blockchain concept that
might be more profitable.  But by then bitcoins might be exchanging hands for more than 50K/coin.

In 10-20 years, Buffet might not be around to see it.

Haha good one !  ;D

+1

If I didn't know better I'd say he is heavily invested in the current kleptocrac system  ;D

Warren Buffet didn't "DECLARE BITCOIN IS A BAD INVESTMENT" he just said he doesn't see it still being around in 10 years.... which means he thinks it WILL be around for close to ten years... he also said this as a passing comment when QUESTIONED about Bitcoin. Warren Buffet would probably tell you himself he doesn't even understand Bitcoin in the first place. He isn't making an announcement or a declaration, he just happened to mention .... something about bitcoin when asked about it. I'm sure he has bigger investments and other concerns going on in his head than to really take the time to understand bitcoin. Its too progressive for an old dinosaur like Warren Buffet to understand. (No disrespect intended to WB, He is obviously a great investor and a very smart man.) He's just too involved in the current monetary system to have a good opinion on Bitcoin at this point.

How do you measure or estimate some one's "smartness" ?

Only by the quantity of wealth acquired ?

Umm yes he did say its a bad investment he also said bitcoin is not and can never be a currency.

not only that.  he'll be dead by then.

Warren Buffet is a very smart investor in that he ONLY invests in things he understand completely.  He has indicated he doesn't understand Bitcoin (and a lot of other tech concepts he missed out on completely).  The good news for him is you don't need to know every home run just enough of them to beat the average.

Now if it was leaked that Buffet (or Berkshire Hathaway) was short 1M BTC well that would be a little different. 

Buffet only really goes for companies that pay a dividend. His stance isn't the slightest bit surprising.
Problem is lots of investors listen to him.

I'm a Buffet fan, as far as his style of investment. But he's wrong about bitcoin.

He describes himself as knowing little about tech, and wisely advises people to stay within their circle of competence. In that light, he shouldn't be commenting on bitcoin at all, but whatever. Being completely non-technical, I think he misses pretty much all the reasons why bitcoin/crypto-currency is a breakthrough that stands to steadily gain adoption over the long haul.




Actually, no. Go read some bios. He's right more than 50% of the time and makes big bets. As he states, it just takes a couple incredibly good trades in a lifetime to build fantastic wealth. Heck, his initial purchase of Berkshire Hathaway was a disaster that took many years to fix/pivot. He (and Charlie Munger) also very stubbornly stuck with the grocery-store stamp/points thing for DECADES after it was viable.

Anyways. Change "ALL THE TIME" to "MORE THAN HALF THE TIME", and it's a correct statement.

...and his company does not.   ;D

The only way to make money by owning Berkshire Hathaway is to sell it (capital gains).

Heh - then he'd be under a helluva squeeze in the last 30 minutes... Did I miss some news or something?

I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.
~Warren Buffet

Bitcoin is the opposite, that's why it's not Buffet's business and will never be.

Buffett would've been wiped out if the Fed hadn't stepped into the GFC of 2008.

in fact, he was given a guarantee essentially to save GS:   http://money.cnn.com/2008/09/23/news/companies/goldman_berkshire/

He clearly only likes receiving dividends, not giving them out.

He uses the dividends to acquire more companies - he also wants long term investors. 

Warren Buffet warns investors against investing in Bitcoin - price rises by 30% in half a day.

I URGENTLY don't care.

While Warren Buffet is a solid investor and someone with great deal of personal qualities that puts him above many people, I wouldn't hang onto every single word.

He makes mistakes, just like rest of us. I am sure he is fully capable of turning his opinions around, and no doubt profit from them as long as he is alive 10 years from now to see it happen.

He did manage to turn around that 'mistake' purchase during the recession into profit, afterall.


TLDR; just take it as a reference.

Buffett has stated that he never understood technological companies and he never took part in them.
What's different now that he would make such a statement, and we would take him seriously!!!

I guess Microsoft has always been a bad investment since Buffet is technology averse!!! LOL!  :D

Honey Badger clearly doesn't give a damn.

Warren Buffet - The New Proudhon

Anyone who follows Buffet knows that he doesn't invest in something he doesn't completely understand.  He won't take anyone's word for it.  Also, he is technologically retarded (sorry Warren).  The man reportedly doesn't write emails or carry a cell phone.  Suffice it to say that he's a master of some things, novice of others.  Cryptocurrency is one of those things he simply can not understand.  His buddy Bill Gates is more positive on cryptocurrency.

If that isn't a contraindicator, I don't know what is.

640K ought to be enough for anyone.
(William H Gates III, 1985)

There is something to be said for not being one of the herd.   ;)

The situation is logic and clear,
Here we have three teams:

1.teams for production bitcoin
2.team for sales Bitcoin and manipulation with price
3.team for speculation and propaganda

all work together and share profits,
When mining be impossibile difficulty about 10 bilion, teams for production bitcoin will stop mining and game iz over, and currency exchange can disappear just like Mtgox
Current difficulty is 3.8 bilion !!!

http://img845.imageshack.us/img845/6893/n7hs.png (http://img845.imageshack.us/i/n7hs.png/)View Screen Capture (http://img845.imageshack.us/i/n7hs.png/)

On the buffet news I'm buying auroracoin already made 400% while peasants buy bitcoin :)

Gonna dump aurora at 900% return

I'm a part of team 1 and I wont stop mining at 10 bilion if ever.

Looks about right good find.

Awesome, glad to know Proudhon is now on my side that bitcoin is a bad investment

I was a bit concerned at first, but this post should clear things up.

Mining will not be profitable in difficulties 10 bilion !!!

bitcoin going up to 645$ tonight, thank you Warren Buffet I guess

Buffet says in the interview : "...you’ll be much better off owning productive assets over the next 50 years than you will be holding pieces of paper or, I’m not sure, bitcoins,”

I am not sure he knows that there will only be 21million bitcoins produced

What that dino said ? He just want cheap coins, old bastard :)

Buffet never said Microsoft is was a bad investment. But he just did say Bitcoin is a piece of shit. Big diff

the projected time for 21 million Bitcoin is about 140 years. so......

Don't try to read between the lines here.  He doesn't understand Bitcoin beyond it being used by some as a method of exchange and store of value.  To him, it's like gold - a modern day incarnation of what his buddy Munger calls a "barbarian metal".  Buffett will always, always, always advise people to invest in businesses.  His take on it is this: gold doesn't DO anything, bitcoin doesn't DO anything, etc.  It's nothing against cryptocurrency itself, he just thinks there are better investments.

You just turn the brain and the solution will just come

Something good can come out of this, you idiots gonna stop citing that stupid quote.

Buffet's key phrase is  "or, I’m not sure" .

OP is an idiot. No one is always right.

Warren is too old to do any math homework. That's why.

Warren Buffett commenting on something he doesn't understand is unusual.  He usually keeps his mouth shut regarding technology investments.  He cares about 1 thing, making himself money.  Him commenting on Bitcoin means that he believes it has the potential to effect his ability to draw in new investment and it probably scares the shit out of him.  Enough for him to step outside his box and make a comment.


EDIT: Buffett actually holds a huge position with Wells Fargo, who is one of the banks trying to get ahead of the Bitcoin movement.  Unusual for him to make this statement while a company that he owns billions of dollars worth of shares is pro-BTC.  It is contradictory to the point where it screams manipulation.

http://www.finextra.com/news/fullstory.aspx?NewsItemID=25652


EDIT 2: Buffett actually just boosted his ownership in Wells Fargo as well.  Seems to me that his words say avoid Bitcoin, while his money screams BUY ME SOME BITCOINS!

http://www.bizjournals.com/charlotte/blog/morning-edition/2014/02/warren-buffett-boosts-stake-in-wells-fargo-again.html?page=all


FINAL EDIT: Buffett is famous for saying to be greedy when others are fearful.  His actions show that he is not only afraid of Bitcoin, but is buying on his fear.  I can't think of a more bullish sign.

awesome comment, you are spot on.

Also I might add, warren buffets investments haven't been performing at any extremely great levels recently. I feel like hes riding the broader wave of index-type return on investments.

Thats not how he made his wealth though- he made his wealth by investing in things like bitcoin(massive return potential), its really quite sad that he doesnt understand the potential. I'm sure he will one day, hopefully soon.

Bitcoin must be such a small idea inside Wells Fargo I'm sure Buffet wouldn't know about it.  He has over 330 000 employees.  He lets his businesses get on with it.  You can't read anything into this about his opinions.  He has said before he doesn't invest in currencies (USD/EUR/etc) but in businesses (he understands).

"URGENT NEWS" translation: So an old guy says Bitcoin is a bad investment.

Looks like this old man didn't look at the price history for Bitcoin for the past 4 years.

Buffet is smart enough not to tell public what he thinks.

In reality he is probably already started to buy bitcoins to manipulate market in the future.

This comes as no surprise for me.
It is not exactly a secret that Buffet's investment strategy has always been to invest in stuff he understands and knows. I'm pretty sure he does neither of both about bitcoin.

lol made me laugh. i like to picture old man buffet at home decked out with top of the line mining hardware, simultaneuously telling everyone that it has no future. "nothing to see here, folks."

buffet doesn't even own a computer, he knows jack shit about anything technology related.

edit: i saw him at the grocery store a couple years ago trying to use the self checkout lane to buy some coke and other shit, and he couldn't figure out how the barcode scanner worked, people tried to help him out but he got pissed off, mumbled some derogatives about kids and computers, threw a tantrum and left.

Bitcoin is not a small idea inside Wells Fargo, believe me...  It's a big enough idea for them to call all the banks together to discuss...  Buffett also probably couldn't tell you anything about his employees outside his inner circle, but I'm betting he knows every little thing the companies he has BILLIONS invested in are doing.  You are right about him not investing in businesses he doesn't understand though, which is why he's increasing his Wells Fargo stake, which just happens to be the largest pro-Bitcoin bank.  If you think Warren Buffett doesn't know what Wells Fargo is up to, I would suggest that you don't know what it takes to manage multi-billion dollar investment accounts.

Warren Buffet: Bitcoin is a terrible investment


03/03/2014

http://img15.hostingpics.net/pics/721602WarrenBuffetdeclaresBitcoinasaBADINVESTMENT.png

 ::)

Is this what you are referring to? http://www.reuters.com/article/2014/01/14/us-wellsfargo-bitcoin-idUSBREA0D1LL20140114
Or this: http://national.wellsfargobank.com/VirtualCurrency

So they had one meeting to discuss the money laundering rules etc. They also held a seminar (focussed on regulatory compliance, risk management, and policy frameworks).  I can't imagine he is in anyway involved.

Not a currency? What is it then? A value(wealth)-transfer protocol?

Oh, wait...

Hey I love bitcoin and have some bitcoin.  Do I think he is right about it.  I don't think so. 
But do I think Buffett is invested or will invest in a meaningful way.  Never. 

Actually all his investment advice talks about fundamentals and investing in businesses.  Just read his latest shareholders report today by chance.  

http://www.berkshirehathaway.com/2013ar/2013ar.pdf

Couple of quotes

But everyone will admit there are better cryptos, and btc Adoption is low...and banks can use some btc-like features in traditional banking and undercut btc's relative usefulness. Perhaps bit coins greatest value was introducing a disruptive technology and being a competitor, driving innovation in banking. And since Bitcoin can be used abusively even more than the traditional banking sector...maybe we can all say thank you to Bitcoin and know that it will die once the banking sector improves it's offered services.

I think that Buffet thought that Bitcoin lacks the most important characteristics of an currency. It is ment to look like a currency, while it lacks the properties.

It's like with this:
http://static.ddmcdn.com/gif/automotive-plastics-manufactured-1.jpg

You can say that it is a car, but still you are not speaking the whole truth when you say that it is a car.

One meeting that was announced to the public.  ;)

I'm not saying he's involved.  I'm saying he's aware and continues to shovel money at them.

This says it all, he's not in a position to be objective about crypto. I'd be more interested in Jimmy Buffet's opinion.

Warren Buffet declares Bitcoin as a BAD INVESTMENT ...

http://d24w6bsrhbeh9d.cloudfront.net/photo/anYD2Mo_460sa.gif

Bitcoin is classic growth.

Buffet is classic value.

How many times has Buffet NOT invested and subsequently the price went up and he missed the boat? We don't know. Probably many times.

He did some crooked silver deal to help manipulators, I don't remember the details.

Cryptos will be here in 10 years, they are here to stay.

Warren Buffet is probably the smartest investor that ever lived.
He knows very well how to go about things.
And he once said:
"I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years."

That being said, have a look at this: https://bitcointalk.org/index.php?topic=498558.0 (https://bitcointalk.org/index.php?topic=498558.0)

Milton Friedman disagrees with Warren Buffett

http://www.youtube.com/watch?v=6MnQJFEVY7s

He doesn't invest in technology. The guy is OLD and the last person in the world to talk down fiat considering his ridiculous mountain of paper.

And how the fuck is this "URGENT NEWS"?  ::)

he's scared. he sees bitcoin, and in his heart of hearts he knows that the days of fiat currency is coming to an end, so he attacks bitcoin. i wouldn't be surprised if he calls an emergency meeting with his BFF Barrack Obama to spearhead some type of regulation to kill bitcoin. the bankers and old money are getting desperate.

Someone should make a bet,

Who will last longer, Warren Buffet, or Bitcoin?  ;)

funny story.

I can understand why Buffet would think btc is a bad investment. Is he not heavily invested in B of A?

Also, honestly, things are not looking good right now. I believe its going to take a serious set of home runs for bitcoin to gain confidence amongst big investors.

I love bitcoin, but I also admit that it has no long term future and it's basically rich nerds trading pogs...that said, I will HODL because some smart guy once said: be nice to nerds, one day they'll be your boss / run the world (can't remember). I'm not saying by bitcoiners are nerds, just that I don't see a value proposition that can't be defeated...but I'm also not divesting :)

Warren Buffet is undoubtedly an investment guru, but that does not mean that he is ALWAYS right.  We all hear about his miraculous investments and strategies that have capitalized when the market has been down, but that doesn't mean that he has been right every time.   I am confident that he is wrong here.  Knowing him, he is probably saying this about bitcoin publicly, and then buying it privately.

Sorry but I call shenanigans on your "confirmation".

 Buffet expressed an opinion and an opinion only, which doesn't confirm a damned thing.

And you "theory" is not a theory but rather an hypothesis from which you might develop a theory had you any foundation for it.

My $.02.

;)

oh wait

Buffet has NOT been right all the time:

http://www.businessinsider.com/warren-buffett-admits-to-5-big-mistakes-2012-2

Have a nice day now, ya hear?

As much as I respect Warren Buffett (not "buffet" which is a serve-yourself meal rather than an investor), Bitcoin simply doesn't fit into his model of investment.  His comments also do not reflect having thought much about Bitcoin, but are simply off the cuff comments.  I'd actually welcome more well thought-out comments from Warren Buffett, but these didn't qualify.

Exactly and thank you for your insightful and accurate post.

My $.02.

;)

i deleted my earlier question as i didnt want to sound rude although it was not meant to be

greedy bastards you all are.. i dont want 500% or 300% or even 100% gains.  all i want is MORE COIN. i'm not an early adopter so i dont expect 1^32984731209847231098472390187419028374 return.. fuck off

Umm. . .you realize 1 to any real number power is 1, right?

Failed

Buffett is overexposed to the dollar.  If he understood crypto, he'd be buying it.  But it's hopeless, at his age.  Best to do what he knows and is good at:  Picking hirelings who can manage well, "big picture" thinking, schmoozing and PR, LBOs.

To be honest I don't give a shit what Buffett says! I make my own decisions.

Who is this Buffet guy?  There's an investor named Warren Buffett, and then there's this Buffet guy, who is a sort of smorgasbord dinner where you serve yourself.

Don't criticize a guy whose name you can't even spell.

He's the brother of Phoebe off Friends

yes.. thank you.  i was hoping to trol but you didnt let me :-)

Warren Buffett has an enviable track record as a real economy investor - he has a preference for companies with tangible assets and solid cashflows which make real things for which there is a more or less constant demand.
He is not right ALL THE TIME, just more often than most - and he plays with big numbers.

He has just admitted to losing $879 million on investments in bonds of Energy Future Holdings Corp (which he bought USD 2bn of)
He lost several billion buying stock of ConocoPhillips at almost exactly the wrong time in 2007
and in 1993 he lost $3.5bn buying stock in a company called Dexter Shoes - he is said to regard this as the worst investment decision he ever made.

NO YOU FAILED.. as someone called it out first and you merely agreed with emphasis.. sorry for long response im a noob so it takes me 1001011000 seconds to reply

I agree:
- He invests in going concerns.  Not currencies.
- He does make mistakes (and by implication could be wrong about bitcoin).

I'd be more interested in George Soros's opinion

buffet invests in stats not feelings.. everyone here is.. one of... greedy day trader, has a feeling this is the new global standard or is a big time drug dealer, or new prophet visitor.. which one are you?

Read the contributions, his name is "Buffett"

His late cousin's company makes fantastic chocolates (seriously)   ;D

http://joeorman.shutterace.com/Bizarre/bizarre_giantfood10.jpg

I think it was Bill Gates that said that to some students.

Buffet is part of the old world of finance, Bitcoin or cryptocurrencies in general are meant to rewrite the entire code of finance. So by investing in Bitcoin you are betting on it being able to start a revolution in the way our financial system works. People who are part of the old framework of finance, especially older people, will not understand this part and can only see Bitcoin as a speculative tool.

I have great respect for Warren Buffet and have learned much from him.

He is wrong here.

I think if there was a company that makes widgets (or sells a service, or whatever Buffett can understand) and it just happens to sell them in bitcoin and it also meets Buffett's other investment criteria (large enough - very large, revenue,  etc.) I'd bet he'd be interested.  But just invest in the currency, I think never. 

People who are part of the old framework of finance are getting nervous?

The important fact is not whether he likes it or not, the important fact is that he talks about it.

Although he believes in company's true value, his company crashed 50% in 2008 crisis and he thanked government for bailout and QE. So he is only a player very dependent on the traditional monetary system and he doesn't understand how money works. Without FED, no Warren

With only $58.2 Billion, he has a little wiggle room to learn.   :D

(he could personally buy and sell the ENTIRE bitcoin market several times over) 

No he can't, only if he could convince all bitcoin holders to sell their coins to him for current market price. Even if he would try to buy say 10k coins every day, after maybe 500k coins the price will get so high that he will be out of all his money before he even gets close to acquiring 1 million coins.

In that regard, you are correct.  If Warren were to openly purchase Bitcoin, that alone would create overwhelming demand.

+1.

Any publicity is good for the Bitcoin price.

I hope Cosmofly Butthurtson didn't really think that Bitcoiners give a shit what people outside of Bitcoinland think about Bitcoin.  ;D

FED is printing $75 Billion per month right now, that is more than all he had during his lifetime. I think Warren is very aware of this, I remember that somewhere he said that his generation's success is largely coming from this huge monetary inflation scheme since 70's. But he selected to follow the game rule and benefit from it instead of changing the rules

This is so false and ridiculous, I'm actually going to take a second to correct you.

Warren Buffett bailed out major companies during the crisis with cash injections, being rewarded handsomely for doing so.  Goldman Sachs and General Electric come to mind...

He thanked the government for the bailout for other reasons I won't begin to discuss since they are so off topic.

So Check this ! Its good or bad INVESTMENT ?  judge for yourself.

http://www.dodaj.rs/f/V/JM/4H6veSvX/yyy.jpg

You realize changing the rules just makes new rules that someone later will want to change.

Thats the way to disagree..! yeah and he's wrong, I don't think he studied bitcoins or crypto currencies that deeply, Maybe one day he will..! they day he'll understand the concept and each of its aspect he'll not say the same..!

I'd actually like to see what he'd think about BTC and cryptos in general if he spent more time looking at the issue.  I just don't think it fits into his paradigm, sort of like how Paul Krugman rejects cryptos.  I probably still wouldn't agree with his conclusions, but that doesn't mean they aren't worth hearing.  I'll note Buffett's comments are actually fairly in line with his comments on commodities like gold and silver.  He doesn't like those much either.

His general attitude and the system he uses that comes from it have served him very well over the years, and he can't just be ignored as a senile old fool.  However, that doesn't make him infallible, and even he wouldn't claim that.  Personally, I hope he lives long enough to see whether he was right or wrong, so he can either gloat or we can tell him we told you so.

Hahahahahahahahahahahahahahahahahahahahahahaha and again hahahahahahahahahahahahahahahaahahahahahahahahaahahah

You should go in some comic show, buddy.

Funny.

(yet another troll.....)

I think bitcoin will die in next 6-7 month,

http://www.dodaj.rs/f/V/JM/4H6veSvX/yyy.jpg

Dude, why are you posting that same picture in every thread? Get some new material.

Now I will wait  next month or 1.april 2014 and I will post new screenshot with trend line and current price.

Fuck you igorr. What the fuck are doing with this spamming ?

Its just my technical Analysis for bitcoin price. what's wrong ?

Probably because it took him 6 hours with MS Paint to create it.  :D

Arbitrary lines are arbitrary.

Lmao

Tech analysis in a thread about Buffett.  Chalk and chease :D

Please study the facts: He injected 3 Billion to GE and 5 Billion to Goldman Sachs after the 08 crash, so his ability of injecting cash is neglectable comparing with what FED did: Printing Trillions of dollars to save those banks

Or to say, he knows that the FED is going to inject trillions of dollars to pump up those companies, then why wouldn't he spend some dollars to enjoy the ride?

WB is ultra conservative, and that's fine for him. Not everyone wants to be ultra rich...many of us just want to cry at being robbed at every turn we take.

I respect Warren Buffett deeply, his arguments about silver and gold, his arguments about long term invesments and so on.

He is a fucking genious but;

Remember guys, Warren Buffen stated before several times that he doesn't related with tech companies too much, he doesn't like internet and silicon walley things. Microsoft, Aplle etc.

I mean, seriously I take his opinions with all my respect but he doesn't know anything about technology, cryptology, internet, p2p and so on. He is an old boi which understand physical companies and assets. He is BEST at it also.

but take my words seriously and stop acting to bitcoin like it's a currency.

COME ON GUYS, WON'T YOU STOP CALLING BITCOIN AS A CURRENCY? CALL IT PROTOCOL, CALL IT AS A SERVICE, CALL IT A MONEY NETWORK, CALL IT AS IT IS SOMETHING LIKE PAYPAL OR EFT OR SWING OR SOME OTHER SHIT. BEING A CURRENCY IS JUST AN ADVANTAGE OF BITCOIN. IT IS NOT THE REAL DEAL.

And relax, take the ride.

He thinks that WE HAVE AT LEAST 5 YEARS GOD DAMN IT!!! IN 5 YEARS BITCOIN CAN MULTPLY ITSELF 10 TIMES AT LEAST. I AM NOT SURE IN 20 YEARS EITHER ::)

Today's marketwatch live session gave a new idea: Bitcoin can be defined as "current commodity", a totally new category of commodity where its sole purpose is to do trade
http://blogs.marketwatch.com/thetell/2014/03/04/track-live-updates-from-marketwatch-special-event-bitcoin-boom-and-bust/ (http://blogs.marketwatch.com/thetell/2014/03/04/track-live-updates-from-marketwatch-special-event-bitcoin-boom-and-bust/)

Thus it might require a totally new set of rules to regulate, thus bring much more potential for freedom

http://finance.fortune.cnn.com/2014/03/01/buffett-900-million-energy-future/ (http://finance.fortune.cnn.com/2014/03/01/buffett-900-million-energy-future/)

I think he is kind of well connected guy (politicians, bankers, authorities, media) rather than be "financial genius" ... in finances there are lots of guys holding phd, very high IQ, etc ... they just don't have the same opportunities ...  I guess his view is not because he really understand bitcoin ... but because the major BTC player are a bunch of "anonymous" hackers ...

Both sides are wrong.  The bulls, "Warren buffett went out of his way to mention bitcoin" that means he is buying bitcoin and bitcoin will hit 50,000 and ppl will start handing us $ again...


the bear, " hahha bitcoin is crashing and it will go down further bc of warren and will die one day"

here is the truth: bitcoin is overrated / oversold like a mother fucker... it is not a new technology... it is just a new idea...

bulls, warrent buffett mentioned bitcoins AND warren buffett takes shits... so what...

bears, warren buffett doesn't use electronics...

If you mean in investment strategy, yes, he is.  He has a very solid, conservative and traditional investment strategy.

But he is politically a flaming liberal.

"Warrant" Buffet FTW

what he means is that BTC is a bad investment at 700

he wants cheaper coins  ;D

but it is true that in 10 years BTC will probably have been replaced by something else ... which does not mean btc owners lose money; maybe there will just be a new version of it.

u mean a hardfork of bitcoin?

He probably just lost his bitcoin in mtgox!! I'd claim a bad investment too

More like  a migration. Lets say the blockchain becomes too large, or a security flaw is exposed, or tainting becomes too much of an issue, whatever - then the community could agree that after block XYZ, the existing number of coins is simply moved onto a new blockchain of BTC 2.0. May be worth a separate thread, that.

About Buffett; remember that such wealth is ONLY possible with fiat. Only by using credit leverage, are the massive mountains of wealth possible that we observe today, in people like him and many others. Super-rich people love fiat.

If gold was money, there would also be rich and poor, but the differences would be much smaller. For example, borrowing large amounts of gold, to buy a company, then have the company pay off the loan or selling it in pieces, is not possible. That is how private equity firms AKA locusts operate. FIAT = LEVERAGE.

Or building rental properties, using fiat that is created by a bank from thin air, then having it paid off by tenants (= milk cows or rental slaves), is another example how fiat makes rich people richer.

Fiat currency is a horrible thing, it is modern slavery, period.

My entire life was based on what Warren Buffet said and I always took, whenever possible, the decisions he suggested. /SARCASM OFF

Who gives a fuck about this guy ? Is it a bad investment ? The get the fuck out and let us, the rest, invest in it and lose OUR money, time, resources, etc. I don't give a fuck about either of these two retards ( the second one being the OP himself for spreading this misinformation as propaganda ) and even if i knew for sure that Bitcoin will die, I still won't sell them !

This is just propaganda, get over it ! I'll hold my BTC indeffinitely and if I ever spend them, I'll do it only on mining hardware that will produce even more of 'em.

You don't have to call him a 'retard' just because you don't agree with his opinion about BTC..
He is a brilliant investor and one of the richest people in the world and a true self made man.

Buffet said: "I wouldn't be surprised if it's not around in 10 or 20 years,"
He didn't say Bitcoin will die.

who cares what W.B. says

Buffet probably said: "I'd be surprised if I were still around in 10 or 20 years"

If Buffet was going to take a position wouldn't a little FUD be in order?

Everything he says and does is a manipulation. Clearly digital currency is not going to disappear within 10 years. If anything it is analog currency that will become an artifact of history.

same difference

anyway do you really expect this very old man to understand bitcoin.

OF COURSE its going to be around in 10-20 years

Diablo2 SOJ's are still around FFS

Most don't have a clue how being a billionaire works. I'm not a billionaire but I study the fuckers. Warren Buffet has a talent but it is not what you think it is. Most of his money was given to him!!!

I have to laugh when the media touts Gates, Buffet and that Slim dude as the richest men in the world. Nothing could be farther from the truth. Just one of the Rothschilds is worth more than all the billionaires combined!!! The royals are worth tens of trillions. The Rockefellers and Morgans could empty half of one foundation in a thousand and own Bill Gates.

Stop believing in false narratives. Gates and Buffet are mere clowns in the Rockefeller Bros. Circus. Step right up folks and see the richest man in the world!! "Here kid, have a free ice cream cone while you marvel at them. If you go to that booth over there they will give you some bread to take home to your whole family and make sure you tell them where you got it and why......"

You can take this information to the bank....Bitcoin will succeed if TPTB want it to. They unleashed it. I know for a fact now!! The Federal Reserve made the hands off statement while all their minions continued to attack it. They are watching how their baby Bitcoin is embraced and used so they can develop what will eventually be the CentralCoin. Call it the FedCoin. Call it the RothCoin. No matter what you call it, it will exist and be controlled exclusively by them. They are watching you and what you do with their precious experiment. Trust me when I say this is a one to two bet....You don't even get your money back!!!

CooterCoin

a genius is an idiot in another genius's eyes

guy is simply old

This isn't right. This isn't even wrong.

During Buffet's long lifetime, he has probably witnessed the other versions of Edison's commodity currency rise up and then fail and that's why he thinks Bitcoin will fall too.

This just seems like something a smart Bitcoin investor with media power would say to attempt to drive down the price and pickup cheap coins. As one person stated, he probably won't be around in 10-20 years… so he will never have to face the heat on this comment when Bitcoin survives.  :o

Bill Gates is richer than him, and Gates beliveis in BTC

Coming from a guy who thinks all there is to life is a cheeseburger?
 ;D

That's his cousin Jimmy Buffett (not really, but they do joke about it).  Warren owns Dairy Queen (really).  :D

Oh I miss the strawberry milk of dairy queen , I'd like to pour it and drink it off my girlfriend's tits.

Best strawberry milk ever

Also Bitcoin is a bad investment

I am positive that Bitcoin WILL be here in 10 years...not sure about Buffett...lol

LOL! USD is a BAD investment.

Who has made money by keeping US Dollars tucked away in their drawer???  Anybody???

good call

I don't believe Warren Buffet is "secretly" buying Bitcoins, it's just not his turf.

I would be very surprised if he was buying bitcoins secretly

I can see a lot of public figures and politicians having bitcoins and Gold but Warren Buffet is probably (rightfully) sticking to what he knows, he makes his 2-4 buys every year and seek value and good management

Warren Buffet also said that computer and internet companies were bad investments.  But I'm pretty sure that Apple, Microsoft and Google are three of the best performing stocks available to the average person of all time.

Looks like Mr Buffett is back in the news talking about BTC today. At least its not all bad this time?

"Buffett said he'd advise people to "stay away" from bitcoins because they do not have any intrinsic value, although they are an efficient way to transfer dollars."

http://www.cnbc.com/id/101494538 (http://www.cnbc.com/id/101494538)

Bullish?

That's survivorship bias. If you look at the NASDAQ index as a whole it is only the last couple of years that it has almost recovered from the crash in 2000. Even Microsoft was priced about 50% higher when it peaked in 2000 than it is today. Warren Buffet did the smart thing by avoiding what he didn't understand and couldn't evaluate.

He really is attacking Bitcoins, he just called Bitcoins a "Mirage", interesting..

Buffet is right, crypto is not going to be accepted as a valuable means of mass bartering. Its just like a niche market, the entire market is just a speculation, a bubble. Technology cannot be trusted as a means of safe wealth exchange. Tech is highly volatile

He's not going to embrace something which has the power to disrupt the banking sector. I mean, if you were in his position and ran his investment fund - would you?

Also, bitcoin is a world wide financial tool. People at Warren's age still think highly of separate countries with separate armies and separate economies. The "US against them" mentality. Bitcoin is based on worldwide cooperation and it's one of the first steps towards removing national boundaries (the internet was another). This is not particularly good news for nationalists, but very good for those who see the world as one community.  

Buffett is not "always right" as you said. He "didn't" see the housing bubble either.

Buffett does not invest in technology because he does not understand it, by his own admission. If he cannot understand the business model of a company like Goolge or Apple, how can he ever possibly understand Bitcoin protocol? It's out of his world.

Why he's willing to comment on bitcoin and not on tech companies is beyond me. Smells of agenda... which is sad because I always looked up to this guy. Now I just see him as buddy buddy with the bankers... In the past, Buffett would have not done business with the bankers on the grounds that their model is defunct, but now he's so deeply in bed it's gross. Deep enough to now be commenting on things he knows nothing about, which is also something he would have not done in the past.

May not be his turf, but his turf usually involves making money and he probably wants to get involved for that reason. But Warren Buffet is too big headed to buy at rates like this.
Maybe if he barks enough he can drive the price down... but I don't think he's that important of a figure to listen to about Bitcoins, so I don't think he will succeed.

Who knows what he's doing, but its obvious he knows nothing about technology and shouldn't be commenting on it at all, which IMO implies there is a motive for his comments.  ;D
But good try Mr. Buffet.  :P

Then you can make the same argument of gold, because it was "just" collected in streams or dug out of the ground, although it was an efficient way to transfer money.

An interesting breakthrough. Eventually, every part of the world will appreciate the convenience of using electronic currency.

Gold is an ornament, it is worn, and its rare. That makes it valuable, gold cannot be compared to crypto

An interesting breakthrough. Eventually, every part of the world will appreciate the convenience of using electronic currency.
[/quote]

What happens when ur cellphone battery dies? Nothing can ever replace paper money. How can we say electronic money is more convenient than paper, you need to be connected to the network, your battery should be charged, and other blah blah. Whereas you just need to give out a sheet of paper

great old man... master of money...
who does not invest in things he does not understand... so his statement is not surprising at all...

What happens when ur cellphone battery dies? Nothing can ever replace paper money. How can we say electronic money is more convenient than paper, you need to be connected to the network, your battery should be charged, and other blah blah. Whereas you just need to give out a sheet of paper
[/quote]

When your battery dies, you should charge your phone then using the charger that comes in its package when you buy one. Have you ever bought a phone before? :)D

When your battery dies, you should charge your phone then using the charger that comes in its package when you buy one. Have you ever bought a phone before? :)D
[/quote]

You understand what i said, but you couldnt come up with an assuring answer, isnt that right? You are buying some chips and boo, you lost network? taking forever to confirm? dont worry just sit there waiting for your payment to confirm or ask the shopkeeper for a charger

Bitcoin is rare too. And there is increasing cost to produce it.

The ornament feature ads very little value. Before gold was used as money, it was just as valuable as ornamented bones. The intrinsic value of gold is basically the price to extract it. When gold gets ornamented, the value increases barely.  

This depends on the kind of phone. For a typical Android phone all that is required is a common USB cable connected to a 5V USB source. The latter could for example be provided by a solar panel. Now if you are talking about an iPhone, they require their own propriety cable in order to satisfy Apple's DRM and censorship; however the iPhone case is moot here because Apple has already used their DRM to censor Bitcoin. 

Mail was awful and weird thing 20/30 years ago as well as that thing called Internet.

This is just the beginning guys, don´t know if will be bitcoin or other digital currency, but there is no way back.

Warren Buffett derides gold just as much as he does bitcoin.  Also, anyone notice how Buffett is always asked about bitcoin on the days the stock market takes a beating?  Wonder why? Hmmm. Most would claim "no I don't see the connection" but if you think about it enough, it makes sense.

I.E., Where would those heavily invested in traditional stock markets NOT want to see investors drain $$ from stocks and run to instead for a better investment op?  Anyone?  Bueller?   ;D

would not be surprised at all if Buffett becomes a major holder of bitcoin, while he continues to talk it down.   His investment strategy calls for purchases when people are panic selling...

How is this URGENT NEWS?
Warren Buffet is old and doesn't understand.

He's not "attacking" it, he's just having a different opinion about it. 

"Attacking" Bitcoin would involve something like lobbying to have a law passed against it.

It just does not fit into his model of investment, like gold doesn't.  He is a highly traditional investor, and one of the best of the breed.

And particularly near the end of his life, when he is making investments, he is taking a "long/hold" position where if he dies tomorrow, the people who trusted him with their money can rely on the fact that if they just leave it alone, they'll still be in okay shape in 30 years.

He doesn't know what's going to happen to Bitcoin in 20 years, and frankly, he might be right that it might not exist in 20 years.  It's entirely possible some other cryptocurrency will be so vastly superior to Bitcoin that it will replace it.  If it did, he wouldn't be around to make a decision about that.

So while he might ultimately be wrong about Bitcoin in particular, nobody in their right mind would claim that his general policies on investing are not sound.

This is Buffet making a prediction on the adoption of a technology.  He is obviously very gifted at analyzing companies and making good investment decisions based on the information he has available.  Coca Cola, Goldman Sachs, etc. are his area of expertise.  Blue chip stocks.  Companies which have strong fundamentals. 

Did Buffet invest in Facebook when they were on the way up?  How about Microsoft?  The companies he knows and understands are not the ones breaking through due to new technology. The guy lives a very modest life himself, and has very little interest in technology.  Look at his office.  He does not have the information to even do correct fundamental analysis on Bitcoin.  Such information is simply not available.

So take it with a grain of salt.  Yes, Bitcoin's value has been largely driven by speculation and based on the real transactions being done on the system, its market cap is very high.  This is the tech industry in a nutshell though.  Companies trade at 100+ P/E ratio.  It's all or nothing most of the time.

I'd like to hear Warren Buffet's analysis on Snapchat 2-3 months before it was purchased for $16B.  I bet he wouldn't have valued it at even $2-3B.  Companies in this sector are very difficult to value.

This, I think, is precisely why he doesn't recommend it and, in fact, is hostile to it.  As an investor who almost entirely relies on fundamental analysis, he looks at something like Bitcoin and there is nothing there for him to get a grasp on.  I think he's entirely right with respect to his own investment model (at which he has been more successful than almost any living human), but where I think he is wrong is in generalizing and saying Bitcoin isn't a good investment for anyone.

He's been pretty consistent about this.  He doesn't like hedging his bets.  He generally assumes he's made the right decision and is not going to bet against himself.  

It is actually one of Buffett's greatest strengths as an investor that he sticks to what he knows and doesn't delude himself into thinking he's an expert at something he doesn't understand.  I think he is wrong in this specific case, but his general strategy is sound.

Contemplating a wager:  The peak value of 5 bitcoin during its entire history on bitstamp, measured in USD, at 1:1 odds.  I hold that bitcoin outlasts Warren Buffett.

It's an easy bet to hedge for my counterparty:  Just buy 10 bitcoin today.  If you're right, you lose nothing.  If you're wrong, you win at least the value of 10 bitcoin today, and perhaps much more.

For my side, if I lose, I just pay out about 6 days wages.  If I win, I will probably make about a year's wages.

He's very good at enterprise valuations and at picking managers, but he has no confidence in currency valuations.  Soros would understand bitcoin much better.  He understands currency fundamentals.  I wonder if Jim Richards thinks of bitcoin.

Obviously Buffet made some very bad valuations. Most banks would have gone bankrupt, if the government did not bail them out. They made very bad business, selling shit as top notch investment (e.g. MBS) until it blew up, but got another free ride from the tax payer. Buffet made after the Lehman collapse an even bigger bet on that, without bailouts he would have gone bankrupt too.  

http://blogs.reuters.com/rolfe-winkler/2009/08/04/buffetts-betrayal/



You can't compare a technology with a corporation. And bitcoin is not just a technology, but a revolution - that's why so many people don't understand it.

Well, if all the banks collapsed, then a lot of people in the United States would likely be bankrupt right now.  Buffett is not accountable for the financial collapse simply because he is an investor.  Most of the business practices of those companies were masked as low risk.  Without insider information, it would be quite difficult to know how they were bundling those loans.  The people bundling them didn't even understand them a lot of the time.

As for the Bitcoin being a technology as opposed to a corporation, sure I agree.  But what we are talking about is the value of a Bitcoin here.  This value is what the market is willing to pay for a Bitcoin at a given point in time.  This value is based on something.  Whether it is the future potential of the technology, its scarcity, or more realistically a combination of many factors, it is still based on something.

To say it's a revolution and it's going to replace fiat, I'd say that's retarded.  Governments aren't going anywhere.  So long as they are in power, they will encourage the use of their own currency.  At the moment, Bitcoin is not a threat to the dollar.  If that changes at some point, it will be a very easy fix for the government.  Just do what China did.  Outlaw using Bitcoin to purchase consumer goods.

Bitcoin needs to find a way to complement the USD and other currencies.  It's not going to overthrow the financial system. 

I never said bitcoin is replacing fiat anytime soon. Nonetheless it's a revolution in the financial world.

Also, why didn't Buffet see it coming, when other did? He acted more like an oligarch than a genius capitalist.   

And why we should assume that whatever Buffet is telling the public is TRUE...?

He could simply tell us lies...to push the price down...so he or his buddies from Wall Street (Goldman SUCKS and co.) could BUY some cheap coins...WHY NOT...?

Specially after the referendum in Crimea...?!?

Yes everyone can tell lies.

But after reading the source article from coindesk.com, it seems that Warren Buffet only said "Bitcoin is Not a Currency", which is something that I do also agree with.

So just relax, Buffett is famous for avoiding tech stocks anyway. You basically don't need any related investment advice from him if you are keen on technology.

Buffett doesn't borrow money to buy shares so Berkshire Hathaway will be fine even if some of the businesses it owns goes broke.

Buffett's investment strategy is such he'd probably survive anything short of a world-ending catastrophe.  It's very often based on companies that have physical infrastructure that would still be worth something even if, say, the dollar itself collapsed.  He's also pragmatic enough to be aware he's not going to be alive for much longer, and isn't going to go for investments that require micro-managing them.  Bitcoin is highly volatile, whatever else you might say about it, and requires you pay attention to it.  Being dead isn't conducive to that.

I think he is in error basically disparaging it as an asset, but I can see where he's coming from.  We're really not the audience he's aiming his advice at, though, and it's probably reasonably good advice to that older audience.  It's generally good advice not to invest in something you don't understand, and if you're older and haven't been familiar with the concept of cryptocurrency since the 90s or so, you probably do not understand Bitcoin.

    I respect the opinions of people who know the financial sector when they doubt Bitcoins when they are sincere, of course. I think Buffet and some others are right when they keep saying Bitcoins are not money. Lee Dorn, from YouTube, makes a good point that they are more of a commodity than money since the prices fluctuate and it's difficult (for now) to directly buy something and know the correct prices day to day as opposed to if you used dollars. An observation I have is that alt currency in general is more a form of bartering than outright currency exchange.

    Starting this year I and some other friends of mine started trading alt currency as opposed to stocks and the impression is that they are more of penny stocks from start ups that swear they will be the next big tech company just invest some time and money or in this case time and hash power and your "shares" will make you rich quick. There are just so many classic pump and dump schemes going on with the new coins that that would turn anyone off but then again how many crap companies get traded right now on the stock market? I think it would be better if we treat them more as stock and/or commodities than money and that would fix a lot of impression people have. I see too many people discussing how they are going to mine coins and make money without any plan and they obvious started with the intent that once they had some coins that automatically meant they had money versus if someone bought stock or gold they understood they couldn't go to a store use buy something directly with it.

    Back to what a lot of financial bigwigs think about BTC. It's new and much of it is either not their forte, they are putting on an act so they can get it themselves, or it's simply just competition and they want you support their industry. I think Mr. Buffet falls into the "knows little about it" category, he does have years of experience in his field but even those in the financial section admit that some his methods are outdated. Others that I think that are more disingenuous and are merely protect their interests would be someone like Peter Schiff who knocks bitcoins and then tries to sell you gold. If people take their money out of things like gold, stocks, etc and put it into a competing market that obviously hurts their interests and no one like competition.

Even Bigger Breaking news Warren is scum and shouldn't be trusted by anyone.  He has said he knows little about the topic in the past but says it's is a bad investment don't trust known liars!

This is great  ;D

The first two are on the list of the top five richest individuals in the world ( #4 and #1 actually) and the third has disappeared without a trace.   ::)

http://www.forbes.com/billionaires/list/#tab:overall