Bitcoin Forum

https://www.cnbc.com/2020/02/24/warren-buffett-cryptocurrency-has-no-value.html (https://www.cnbc.com/2020/02/24/warren-buffett-cryptocurrency-has-no-value.html)

So Warren buffett just stated that cryptocurrencies have no value and He does not own any and he never will.

But it is a very well known fact that in February only
Sun gifted Buffett one bitcoin , after striking that deal with him .

So practically he did own 1 btc . I am not sure that he gave them to charity though .

What are your thoughts ?

He’s very successful but he’s a dinosaur. He’s not going to be interested in new tech because he doesn’t need to be. Ignore him & his negative comments.

Considering Sun J gifting Warren 1bTC to be scam. You remember that, when the meeting was done warren stiil stood on hua ground that, he will not get involve into crypto. He's still saying that, Sun J cannot influence him to join cryptocurrency no matter what they offer him.

Lesson for Sun J. Never you pay to get someone attention, they should be allow to consider their ways over and over again.

I mean, what does he know compared to you.

When Warren Buffet has as many houses as you I'll start listening to him.

According to what Justin wrote on his Twitter he gift Buffett Samsung Galaxy Fold and 1 BTC in this transaction - address 3AsXDKX1etLgegepVeJbhj7WeZiypVMgdt (https://btc.com/3AsXDKX1etLgegepVeJbhj7WeZiypVMgdt). Ever since the address became public, some others send 0.01519228, so total balance now is 1.01519228 BTC.

Accordingly, Buffett is lying or has become so senile that he did not remember what happened just a month ago.

https://dailyhodl.com/2020/02/06/warren-buffett-gets-his-first-bitcoin-from-trons-justin-sun-btc-and-trx-surge/

I was going to say the same thing but he got first.
He stretched out most of what I am going to comment here.  ;D
How did you do that smiley with a teary eye?
That is more important to me than hearing all the words from that man.

One of the problem with old people. (specially the rich one) Not much of them care about the new technology anymore.
He would prefer a war.  ;D

My thoughts are he is mistaken since he doesn't understand how a POW coin secures the entire chain. The effort of POW secures every portion of the chain.  People who argue otherwise don't understand the basics of bitcoin and the economics upon which it is based.

It is like saying "gold has no value" or "<name your fiat currency> has no value."  In some respects that is true.  If you were on an island alone, none of them, bitcoin, gold, the Euro/Dollar etc would have no value.  However they all have value based on the fact that other people know that different people will exchange them for something of use to you - food, shelter, medical care, water, computers, TV, movies etc.

Imagine being Warren Buffet's age and having his level of success.

Then imagine that some disruptive technology comes along and threatens the empire you built. Are you likely to spend your last decade jumping in and figuring out this new thing while being trolled the entire time or is it just time to sip your Coca-Cola and do the trolling yourself?

I'd like to think I'd jump right in but at his age and station in life, it's hard to know.

Exactly. According to Justin Sun, the old turd got 1 BTC and some TRON. Source: https://twitter.com/justinsuntron/status/1225413846132719616

Either Justin was lying or Warren's staff forgot to tell him that he was now part of the HODL gang..maybe one of his staff got a hold of those cryptos without the boss knowing?  ::)

There's a high chance he didn't understand what happened (that he has received a Bitcoin wallet and 1BTC+ on it).
And the only chance I see for that Bitcoin to not get lost is if somebody will recover from thrash somewhere that phone and the wallet it contains.

Warren sees everything as a business.^[1] (https://bitcoinist.com/buffett-sees-bitcoin-as-a-store-of-fear-not-a-store-of-value-says-etoro-yoni-assia/)
 

For some reason, he has failed to understand that bitcoin isn't a company owned by someone. There is no profit-generating model which is attached with Bitcoin. It is not supposed to be a business, it's a currency. I'm surprised how he can't understand this bit. It isn't fiat which can be printed whenever the banks wish. He is trying to paint a picture that investing in rare items is "fear investing"... People don't invest in rare items out of fear but rather what value they bring to the table. Bitcoin despite being limited in supply can work as a global currency. The value of bitcoin comes from its immutable Ledger which is owned by no one...

Also, his recent statement doesn't make any sense.


Gold doesn't produce anything... FIAT doesn't produce anything So they have no value in his eyes? He is clearly out of gas... the guy shouldn't be taken seriously anymore, He doesn't make any sense anymore...

---

Source:
[1] https://bitcoinist.com/buffett-sees-bitcoin-as-a-store-of-fear-not-a-store-of-value-says-etoro-yoni-assia/

That usually happens to people his age. I truly don't see why people value his opinion or why so much attention went towards that lunch. Justin Sun is a scammer and Warren Buffett is an old has-been. He still uses a flip-phone. You can't expect him to understand anything about technology.

Probably due to old age Warren thought that Sun only gives him the Samsung Galaxy Fold and forgot that it has Bitcoin stored in it.  

Anyway, we can't force people to change their point of view until they are willing to accept changes.  I think Warren is content with what strategy he is doing and thinking that reinventing the wheel by accepting cryptocurrency will break his system.  Besides, I think that he felt like he is late in the Bitcoin scene and thinks that there is no added value if he embraced it.  Let us just leave the man and respect what he thinks about Cryptocurrency, besides he will be the one who is left behind if ever Cryptocurrency market becomes dominant.

Err.. All those publicity from Justin Sun that he gave Warren Buffett one bitcoin. So apparently Justin Sun was lying all along then; assuming that Buffett didn't just forget it. Who knew? Surprising ain't it? /s

Anyway, as usual, Warren Buffett's point of view on assets has always been on how that certain asset can create value. So as expected, bitcoin doesn't have dividends and such so naturally he doesn't like it. He'd probably have the same opinion with gold.

he doesn't own bitcoin at least not publicly. the 1 btc thing was just a ruse that the Tron owners pulled so that they could temporarily pump their shitcoin up for a while and make millions from that process.

as for Buffet himself, if it were up to him he would have never talked about bitcoin ever. the damn interviewers keep asking him :D

Its impossible for him to forget or not being informed that the smartphone he received having some 1 bitcoin on it.Its hard to believe that he isnt aware on even on the slightest or basic technology set-up.

About this issue which i dont see why people do take so much of this sentiment.Either he do tells the truth or just simply bluff then i dont really care at all.

This is the typical Warren Buffett that we know and he can tell whatever he wants about bitcoin whether it's real that he have it or not. To his point of view, his words are the right one and he's the most successful investor in the world.

And that's what matters for him. I guess we can always expect him to be like this unless there's a sudden turn of tides and there's something that he's cooking that he will not say it this too soon.

At the dinner he did with Justin Sun, when he gave a certain amount of Tron and Bitcoin, Buffet admitted that Bitcoin still has a long way to go, it is to be understood that someone like Buffet thinks like that, is accustomed to the Stock Market  , to long-term investments, it has its way and financial intelligence, which is respectable, I think because of his age it is understandable that I do not trust this technology. Sun's Tweet are here: https://twitter.com/justinsuntron/status/1225413846132719616 (https://twitter.com/justinsuntron/status/1225413846132719616)

Now you can continue to say what you want, I think it will have no effect on the Bitcoin market, your statements are at least more important than those Schiff makes when he speaks, in fact, the books that Buffet has written are very applicable to the market for Bitcoin, contains investment advice and financial thoughts.

Nah. Very unlikely. Warren Buffett is famous for him really not investing in stuff he doesn't understand(including most tech stocks) hence he makes his colleagues at Berkshire Hathaway to do the tech investing. Warren Buffett is a value investor, not a speculative investor(hence counting out bitcoin automatically). I mean, this dude doesn't even hold gold, so don't expect him to hold BTC.

I think Warren buffett really not interested in crypto market or crypto currencies maybe there are many reasons, because of he has successfully investors in stock market and that is still doing good for him. so you can check full video about what statements Warren buffett givens regarding crypto and Sun j.

Source from https://twitter.com/i/status/1231939235139268611

Yeah, he seriously wouldn't have a need for crypto even if he was gifted with it--which he was.  And I wouldn't be so quick to slam Buffett for any of that, as his is a pretty neutral viewpoint whether you like it or not.  Nor is he ignorant about what crypto is; the man is both educated and very intellligent, so I respect his dour perspective on bitcoin.

At the same time, I'd have to disagree about bitcoin being worthless or useless.  It's much different than a stock but it's hard to argue that a ton of people think it should carry a high valuation when the market says it should be worth close to $10k.  Anyway.  Respect to Buffett for his success in the stock market.  He's always been an inspiration to myself and a lot of other investors, and he's not typical of the Wall Street crowd by any means.

Well, someone like Warren Buffett who only knows about what he is interested in, who only invests on what he actually knows and is willing to know, it's no surprise he is willing to bring down Bitcoin/crypto down. Still, should he actually develop an interest with it, I suppose the guy would actually help develop it in the community, but well, ignorance is quite dangerous at times no?

As for the Bitcoin sent to him by Justin Sun, heck I expect it to have been completely forgotten by him. Even if he did remember, he doesn't really need that amount with all the riches he has after all.

Warren Buffet generating FUD towards bitcoin is just another proof banks and all his shit conglomerate fear bitcoin.

Ehh, there's a fine line between someone really not liking something, and just straight-off spreading FUD. Warren Buffett is most likely the former. Though Warren Buffett is heavily invested in a good number of banks, he stated a lot of times already that he doesn't delve in things concerning technology simply because he doesn't get it. Let's not randomly throw out the "FUD" card every time someone says something negative.

I can take three implications from this.

• Warren has simply been consistent with his lack of interest and dislike of Bitcoin.
• Warren's knowledge of Bitcoin remains terribly limited. I guess the same goes to the immediate people surrounding him.
• Which follows that Justin Sun's $4.5 million lunch with him amounted to nothing. Justin failed to teach the old dog a new trick. But credits still to the old legend for making himself available, nevertheless.

So, now that the respected investor sticks to treating Bitcoin as a "store of fear" at best and a "rat poison" at worst, I guess people like Justin should instead focus his attention, effort, and money to the younger generation. The future of Bitcoin and crypto, in my opinion, rests on them.

Good point. 'Old' investors are familiar with stocks and the rest because that's how they got rich. For the average joe like us, it's difficult to even get inside. From an investment point, cryptos are a good alternative. But of course, the youngsters should know about fiat, sound money and why Bitcoin is a good alternative for some transactions. Which is why they have some values.

I don't see why we need to spend time & money to please somebody who clearly doesn't like and doesn't want to change his mind on this matter. Those $4 million or whatever would be more useful for funding development or supporting developers.

I don't think that Warren Buffett doesn't have an interest in the cryptocurrency. As a big investor, I am sure he will search for new ways to get more and more money. He will not stop in stocks only, especially cryptocurrency is a new thing on the investment side, so I think he will search by secretly without anyone knows. Even if he says that he doesn't have crypto and will not use crypto, we cannot just believe what he is saying because I am sure that he has resources that he can use to search more about crypto.

Warren Buffet isn't relevant anymore.We shouldn't care about his opinion in regards to cryptocurrencies.
Sun tried to pitch his TRON project to Buffet,which was hypocrite.I mean,if you are a true Bitcoin supporter,don't pitch and promote altcoins.I really doubt that Sun ever gifted any BTC to Buffet,or maybe Buffet refused to take the bitcoins.Nevertheless,old people like Warren Buffet are usually very conservative and traditionalist.It would be very hard (or almost impossible) to convince any old guy in the benefits of Bitcoin.

There is no other word maybe just because you want to try.
But in my opinion they dont have to bother anymore to prove that Warren Buffett wants to change his mind towards bitcoin or is it just a sensation?
If I have to change someone perception then I will not force myself and my time if that person will not change it themselves after 1 or 2 times. Ignoring it might be the right thing if we dont want time to be wasted because of differences of opinion.

I do believe Warren is not bluffing. He's an old man who seems to be a genuine and honest person. He does not need to lie about crypto. Why does he have to? At his age and with his achievements in life, I cannot see any point why he will try to keep his cards to himself alone. As a matter of fact, at this stage of his life he is not anymore concerned about making more and more money; he's more concerned about sharing what made him one of the most successful investors in the world. He is already after legacy. He is in fact starting to fulfill what he said before, that he will give away 99% of his wealth to charity.

I believe, if it was possible, Justin Sun should have brought Nick Szabo with him to meet Warren Buffett. He would have conceptualized everything better, and given it a philosophical point of view, than those people he brought.

I respect him as one of the smartest investor if not the smartest in his time. That is just the opinion of one man and that doesn't apply to all. I lost all my hard earned money when I bought bank stocks in 2007 and 2008, when I should have waited till 2009 to buy bitcoin. Today I should have been able to be one of the executive directors of a bank in my country should I have spent the money I wasted in bank shares on bitcoin. Bitcoin is more real than company stocks.

I've just read statements and topics regarding a famous cryptocurrency personality that gifts Warren Buffet a cryptocurrency and from that point, I though his mindset will be changed and will start to consider cryptocurrency as a great asset.

This leads me to search again, some information regarding the topic:

Upon reading to this article (https://markets.businessinsider.com/currencies/news/warren-buffett-blasts-bitcoin-worthless-vows-never-own-crypto-value-2020-2-1028932272), Warren buffet seems to be firm to his decision of not accepting cryptocurrency and what he did when he accepted the cryptocurrency as gift is just to respect the CEO of Tron, and from this, it seems that the CEO has failed to convince Warren Buffet regarding how good cryptocurrency is.

Anyways, I could say, why do we need to get Warren Buffet in the first place? Knowing that he's a person with a huge place in stocks, I think if we're on his situation, we'll just do the same thing and we need to respect that decision.

We can still live and continue our business with cryptocurrency even without him. So IMO, Let's focus on people, basically, to build mass adoption rather than influence those who have already built their decision to stick with their own respective assets. Time will come, and they, themselves could tell the difference of cryptocurrency to what they are holding now, I'm pretty sure they will own crypto as well as I hardly believe that if we push someone to things he didn't like, he will just resist further more.

Warren Buffett is a hypocrite and no I’m not saying this because he’s not a bitcoin fan, I’m saying this based on proven fact. I’m assuming all know of his intent of never giving up on his flip Samsung phone in exchange for a Iphone, but look how he suddenly decides to back out from his words by confirming that he’ll use an Iphone now. Therefore if the community believes anything he has to say regarding bitcoins then I would advise you'll not to believe him, and I have always considered the opposite of what he say in respect to bitcoins hence I urge you’ll to do the same.

Source:

https://www.cnbc.com/2018/01/10/warren-buffet-isnt-eager-to-trade-his-flip-phone-in-for-an-iphone.html

https://edition.cnn.com/2020/02/24/tech/warren-buffett-iphone/index.html

Likely, he knows the effects that his words can have, and rather than admit that he does have 1 BTC gifted to him by Sun, he prefers not to mention it, so as not to give it any positive publicity, bearing in mind that he does not favour investing in it.

To complete a bit more on what he stated here, I saw Justin Sun’s video where he talked about his dinner with Buffet, and the impressions Sun got from that event (I did not watch it live, but saw an uploaded video of the stream: https://www.youtube.com/watch?time_continue=1734&v=0bJ60OuPb-o&feature=emb_logo).

This is a brief summary of the above linked (lengthy and rather dull) video:

He went over the gifts he gave to Buffet: Samsung Fold with cripto, statue of a horse, Chinese chopsticks, a book in Chinese, a plate with Tron’s logo, etc. Buffet gave Sun a book that he always recommends, which is this one if I’m not wrong: http://www.butler-bowdon.com/benjamin-graham---the-intelligent-investor.html

Buffet does not use a smartphone, but rather a pre-app type of phone (of course he does own now a ravishing Samsung Fold). In fact, Buffet is little to none versed in current technology.

In terms of investments, his doctrine is to invest in companies that provide annual dividends, and to focus on those that are market dominant (if they have a monopoly over the market, the better). Being so, Buffet does invest in Apple, but did not do so until Apple did not reach those terms. On the other hand, he does not recommend investing in Tesla (too many core competitors). He normally plays the long game.

Buffet believes that the stock market will continue to be positive, so long as the Federal Reserve keeps low interest rates.

As I said before, Buffet is not a techie by far, but companies that he does invest in are exploring the benefits of Blockchain, and that has settled in to his mind, to the point that he considers that to be a technology that will disrupt the payment and financial systems of today. Nevertheless, he does not consider Bitcoin as an investment, since he does not see it replacing the USD at any point, nor does he see it as an active that will return assured dividends each year.
 

How can someone take seriously an opinion on technology from a person who doesn't understand and use modern technology? It's like asking a caveman what he thinks about Bitcoin. And it doesn't matter if this specific caveman is ultra wealthy and genius trader, since Bitcoin isn't some stock, it's a protocol, a network, a software and community.

You can say the exact same thing about why currency on the planet.

Nevertheless, Warren is a very cool person. His conservatism can also be understood, after all, the fruits of the real economy are much clearer and more understandable for a simple people. Yes, and the niche of cryptocurrencies is already quite busy, but he needs a place so that he can turn around.

Well bitcoin or crypto currencies cannot please everyone so we can expect that there will be side that will surely to oppose bitcoin or crypto currencies. Though Warren Buffet is a popular person still he cannot use it to attack bitcoin or crypto currencies because the adoption is spreading very fast like a virus.

Only newbies or those who have no have no interest with crypto currencies will only listen to his words. What I am sure also is that there will be sectors in his business that will be affected if he will accept crypto currencies especially bitcoin that is why he is opposing it as of the moment.

I believe he said that because he was told to or so was decided by his circlejerk, we have few circles around here and it's noticeable how they all agree on a opinion then promote/impose it it.
Buying and selling thing's and becoming rich of it doesn't make you a good trader, a lucky and pacient one perhaps and that's quite a recipe there.
Not jumping for the gold when you see it is a safer idea.

I would have to pick the side of TRON CEO SUN than this old dog who now can't learn new technology anymore.  Buffet must have been experiencing the aging disease.  There isn't a sign of struggle to the photos they post when he met with Sun and Lee but Warren just can't accept the fact that his stocks aren't that getting attention anymore. The old stock market is getting old like him.

Maybe Justin need to clarify with Warren then.

But I guess this is worthless though, as we all know that Warren B. is no coiner and it will be very difficult for a guy like him, an old traditional fart in the investment game to really change his mind about crypto. So I'm not surprised by his statements here.

Yes, Warren Buffett gave the BTC to a charity as a donation but because he doesn't own crypto, he thinks that cryptocurrencies have no value - a silly statement from his end btw. These highly rich people who, on the many shoulders of a lot of people, have become successful and give tips to others so that their shares be worth a fortune for them but nowadays, people have become too smart to stop following them and these rich people are fearing the possibility of losing their control over the markets as well as their followers. Come on, tell me the times when a community ever neglected on comments made by these well-established people and started following something new as well as created a completely different asset class of its kind where there is no control of anybody and everyone owns and is a part of crypto.

This man is the worse of all because he donated something that has no value, I wonder which charity did he gave the BTC.

Old people are the hardest to teach. My old man acts this way as well when it comes to where I would invest my money since all he knew is that investments are real estate properties. So when introduce to Stock and bonds, he'd just insist on sticking to what he only knew.

This is no different than when Rockefeller was trying to stop electricity to become mainstream since his oil was used to light the lamps and he felt threatened by the potential of this new technology, Warren Buffett has  become very powerful under the current rules, so it is completely natural that he wants the status quo to maintain itself and he is going to be against anything that threatens it, when you understand that it is not difficult to understand why he is so opposed against bitcoin and what it represents.

As soon as I have seen this news released I knew there would be a backlash by the cryptocurrency holders.
Almost every cryptonews website had this on their front page today for their sites.
He is old school and has said he does not invest into any technology based stocks as he does not believe in them.
So why would he suddenly believe in bitcoin if he does not even own any apple, tesla or amazon stock for the very same reason?

I think you're pushing it a bit too far with the theories, as we literally have no way of knowing of the theories are true or not anyway. Buffett simply looks at things at a business perspective, not a speculative investment perspective. I thought it was obvious. Apparently not.

LMAO, I always see Warren Buffet's ads on youtube about his investment business in almost every video's that I watched and he is surely spamming it like there is no tomorrow. :D I guess he can say whatever he wants to say about Crypto Currencies and I don't think that his negative comment will make an impact in the crypto industry even if he is among the richest men in the world.

I heard from the beginning that Justin Sun held a meeting with Warren Buffett, I was sure that Justin Sun was impossible can change
the perspective of warren buffett. Because it's natural that old people will have more difficulty accepting new things. Moreover, warren
buffett has feel successful without the need to invest in cryptocurrency. So hear warren buffett say negative things about cryptocurrency
I am not surprised at all. Because at any time in my opinion the Warren Buffett will always be negative for cryptocurrency.

What's new here? He is a banker so what will you expect with him when it comes to crypto :D.

He is a respectable person when it comes to investing so I will not say anything to him but if we trust crypto, the only thing that we can do right now is to remain silent and let him spit the words he want. He says bad regarding crypto is a good opportunity for us to accumulate more Bitcoin :).


We know that Justin Sun is the king of "HYPES". Do you think that a meeting with a person who is anti-crypto will happen :D.

One of the people I admire in the money market especially in the securities sector, because of the success that he has. And his scheming, I think we will guess his intentions soon  ;)

He was totally right with that rat poison statement because if Bitcoin succeeds it will kill the corrupt banking sector and its quantitative easing, so it's going to poison all the rats that keep stealing from us.
Warren should face the reality. He's doesn't have to learn Bitcoin because by the time it revolutionizes the world Warren will be long dead or lie connected to a dozen tubes on his death bed.