Bitcoin Forum

After watching this, I realized Buffett seen it all (closely!) at least once already (think it is taped in 1999). To be honest, I don't believe he lets this bitcoin opportunity slip, based on his previous experiences.

"Time and distance are not limiting factors anymore"
"Costs of getting your information around the world is going to be close to zero"
"IT is changing the world in a very big way"
"Technology is turning the world upside down"

etc..

http://www.youtube.com/watch?feature=player_detailpage&v=IvveZr0D_9Y#t=1200 (http://www.youtube.com/watch?feature=player_detailpage&v=IvveZr0D_9Y#t=1200)

So you are saying you want a billionaire to completely buy out most of the BTC from the exchanges and keep it for himself?

I am referring to the below interview, which would make me think he is not involved. Now I know his general statement is that he does not invest in things he doesn't understand. The above video makes me however believe that he perfectly understands the potential of digital gold. Just wanted to share it.

Buffett blasts bitcoin as 'mirage': 'Stay away!'
http://www.forbes.com/sites/kashmirhill/2014/03/26/warren-buffett-says-bitcoin-is-a-mirage-why-marc-andreessen-thinks-hes-wrong/

Many people who have benefited from the current system and have accumulated a lot of fiat wealth don't see Bitcoin as an opportunity, but as a threat.

Despite his possible awareness of tech, he missed out on the .COM boom & advised staying away and threw the baby out with the bathwater.  Left a lot of money on the table on good .COM companies.  The only tech company for which he has major holdings is IBM, which he got into before .COM.

Warren Buffet's primary investments are in the banking sector and he stands to lose from the proliferation of Bitcoin.

I'd like to see how WB rebutted Legg Maison's counter-statement.

WB said bitcoin is akin to super fast check, however it has no intrinsic value because its value is coupled to the USD and hence purely a speculative tool.

LM said WB got it right that bitcoin is a super fast check, but he failed to realize bitcoin is limited to 21,000,000 if there's only 21,000,000 check to exist in the world then check would be highly valuable.

Wisdom found above, and below.

http://www.medicinemancreations.com/images/Wisdom.gif

Satoshi was courageous, and right now Buffet is being unwise.

This form of money is also valuable because there's no central authority figure sitting at the presses, printing more for himself and his friends, and less for everybody else.

Those of you who sold when warren buffet 'seemed' to say negative things about bitcoin - you just don't have the foresight and wisdom of the Wizard of Omaha.

You got Warren'd.

The Buffet Bubble.

https://2.bp.blogspot.com/-HLlzBwyqobk/T6gWQX6vUkI/AAAAAAAAA3g/EI5tt-t4vcA/s1600/brkgold.png

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/02/warrensbubble.jpg


The problem with Warren Buffet's advice is it completely ignores the harsh realities of taxes and inflation. Once taxes and inflation are factored into the Sp500, returns plunge to roughly 1.5% annually. The government will end up with the majority of your stock gains, as it taxes both corporate income and dividend. "Productive" investments require a friendly environment to properly deliver returns.

One of the benefits of crypto, it allows building systems where those 2 dead weights do not apply.

A gold bar sitting in your basement doing nothing still buys the same value of US stocks as it did almost 70 years ago. This also makes sense, as I don't think anyone believes the US industrial base is 1000x bigger. Where have all the gains gone? Into government coffers via taxation and inflation.

http://pricedingold.com/charts/SP500-1880.pdf

There's a time and place for every asset class. If the monetary system was sound to begin with, bitcoin would probably never have come into existence.

haha i remember that, he was claiming that it is a bad investment and to stay away from it LOL. clearly so he buy them all!

Exactly. I have seen news articles which explore the use of Bitcoins to create wealth re-distribution. Such article do scare away a lot of potential (large scale and corporate) investors. That said, when someone becomes a Ultra High-net-worth individual (UHNWI, with net worth over $50 million), his aim will be no to increase his wealth, but to protect his wealth.

Really if billionaires will "shove" their hands into bitcoin world, imagine how they'll benefit from it. And what do you think could billionaires like warren buffet could manipulate bitcoin price in any way?

warren buffet is backed by the bankers
he is a banker insider
bitcoin is anti banks so of course he will downplay bitcoin as lots of people respect and hear his statements like the bible