Bitcoin Forum

One of the high ranking family member of the 13 inbred terrorist European Bloodline "Warren Buffet" tells his fans & investors to "stay away from Bitcoin."

You can find his excuses in the following articles below:

https://www.cryptocoinsnews.com/warren-buffet-stay-away-from-bitcoin/
http://www.forexminute.com/bitcoin/warren-buffet-oracle-omaha-suggests-investors-stay-away-bitcoin-2015-52383


Do you have any thoughts?

he said that MONTHS ago dude...  ::)

This old man isn't tech Savvy , and doesn't understand the true potential of bitcoin .

Therefore , he can stay sat in a corner letting hot air slip between his crinkled nasty ass for all i care .

Unless you understand something , don't try or pretend to be an expert


i think he's in on a joke tho

Warren Buffet is an oldschool master. (master of the masters actually)

I would listen whatever he says. I am not saying i would do whatever he says but what he says there is important to me.

BUT,,

“Stay away from it. It’s a mirage, basically. … It’s a method of transmitting money. It’s a very effective way of transmitting money, and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope Bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways, and it will be. The idea that it has some huge intrinsic value is just a joke in my view.”

This answer is so god damn stupid. The ways he mentioned, non of them provides the anonymosity and more importantly they are not free. He is right about one thing though, btc is only good for transferring money for now. Volatility is killing this things true potential.

http://www.australianexporter.com.au/wp-content/uploads/2014/09/Warren-Buffett.jpg

Bitcoin is the worst investment of 2014. It performed worse than war hit Ukrainian hryvnia.

Didn't Warren Buffet said the same thing about Facebook too? Facebook is still here and worth billions. Buffet is not a tech guy and he is not very good at valuating technological innovations.

He has a huge investment in AXP and
significant stakes in MA and V so you would have
to assume he has some sense of the 'value' of transaction networks ..

Triff ..

how is it an excuse to say something like this. he could ultimately be right and you zealots could be wrong. oh well who cares.

Everyone has a right to his own opinion.
Everyone can say what they want to but whether you want to believe in it is up to you.
But nobody can predict anything with 100% accuracy. Even the best mind made wrong assumption or even decisions.

I dont think Warren Buffet understands what Bitcoin truly is about.

Its unconventional (in his perspective) and nothing like the usual investments he looks into.

Only Cryptologist(mathematician) or programmer(geek) could truly understand what exactly Bitcoin is and love this thing.People won't like a thing that they can't even understand.

I would agree if he said: stay away from HODLING and hoping the time the price hits 1M each.

There are good money making opportunities in BTC

please no more bad news....bitcoin can't handle this much bad news....we are going to kill it

I really don't think he understands the concept. The main positives are the low cost transaction fees and borderless transactions this is what it gives inherent value with security and privacy. This is like saying email has no value because we have the postal service.

some people try kill bitcoin with bad news.

No, it isn't. Many investments performed much worse than Bitcoin. Some stocks are down 98% - and that doesn't even include the companies that went bankrupt this year.


No, it didn't. It is down only about 60% for the year. The Ukrainian currency is down some 95%. The Russian rubble is down some 70%.


Yup. He said it generally about the Internet companies. In the late 90s. Guess what happened in 2000? He also said it about gold in 2010, if I remember correctly. Guess what happened in 2011? Yeah, he's just a stupid old man without a clue (but with lots of money). /sarcasm


A wise investor never invests in something he doesn't understand.


Speaking of transaction fees. I saw some research that currently the miners get about 0.5% of their income from transaction fees. Wouldn't be fair to say that when no new bitcoins can be mined any more, the transaction fees would have to increase at least 200 times?


This is at least arguable. Regarding security, I have no hard data but have the definite feeling that a larger percentage of Bitcoin users have fallen victim to Bitcoin-related scams than the percentage of credit card users have fallen victim to credit card-related scams. Regarding privacy, I definitely disagree. Pseudonymity does not provide sufficient privacy. Recent research paper demonstrated that it is possible to deanonnymize (down to their IP address even when they were behind a NAT firewall) a large percentage of the Bitcoin transactions (some 80%).


It is like saying do not invest in a free e-mail provider with no revenues - which is a perfectly valid statement. (I wish I could add "unlike a postal service" but in most countries these are state-owned and deep in the hole pretty much since their creation.)

Haven't more "highly respected" investors adviced people to not invest in Bitcoin because it will crash to zero?

If I were to believe some of them then Bitcoin at this point would be worth $0.01  :D

He should focus on retiring and spend his free time on the golf course.

Fortunately, even a genius like Buffett is not always right
He is wrong about bitcoin. Period.

Buffet obviously can read charts

Buffet is an investing genius.  However, he also has said he wont invest in things he doesn't understand and that includes technology.  This is a guy who was reluctant to invest in MICROSOFT because he didn't understand it.

Buffet views bitcoin like he does gold, a non-income producing investment.  He's opposed to gold and so he's even more opposed to bitcoin since it's just gold he does not understand.

To his credit, his call this year has been right, bitcoin's price is down.  Does that mean I no longer believe in it, of course not!

Exactly!
I really think that Warren Buffet is financial genius but this doesn't mean that he is expert in everything.
Maybe he don't like revolutionary, free concept behind bitcoin, decentralization, no banks involved etc.

I don't really give a damn what he says. His opinion is worth to me the same as the opinion of any other stranger.

media people ... say the inverse of real thing :

- 2013 : don't buy gold = GOLD buyyyyyyyyyyyyyyyy
- 2015 : don't buy bitcoin = BITCOIN buyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy

I think you are right, he likely does not understand the concept of bitcoin. He has never really understood technology companies, nor has he invested in them.

From what I can tell him tends to only invest in industries that are very well established and are unlikely to go away anytime soon (or ever). Neither bitcoin nor technology is going to meet this criteria

Well warren buffet is right so far and all of you are wrong :7

Warren Buffet himself has said to not obssess over graphs and let time pass.
He took 10 years to get one of his best investments back and when he invested it initially went down.
Most people are sometimes wrong and statistically he is wrong with this. He is simply TOO OLD to get it.

fuck that reptile.

Ordinarily when a well-known investor says to buy or sell something, he's simply talking his book to increase his profits. But in this case? Who knows. I haven't a clue what he really thinks of Bitcoin, and I'm skeptical he even understands it.

Ol' Warren has carefully developed his "kindly grandpa" persona as a means to compensate for his current lack of investment acumen. He was one of the twentieth century's greatest investors, but his twenty-first century record is spotty at best. He used to be the king of arbitrage and buyouts; but now, he's burning through his cash reserves and credit lines by investing haphazardly everywhere he can, hoping something sticks.

Many professional investors share your opinion.

Buffet doesn't understand technology.
It is right for him to stay away.  :D

I saw him taking about that, in a thing with bill Gates as co  host (whom he's been friends with for ages i think): how he is a technophobe and didn't invest in MS because it's not something he can grasp.
If Gates can't convince him of the potential of Microsoft how is he ever supposed to get bitcoin!?

After years of lurking I am responding to an actor_tom_truong post.  Does that make me a follower?  We never know what our futures hold!  

Warren buffet is a savvy investor and ate more of the apple than you would think this core that is left could hold.  The fat old turd Buffett is on the downslope of his magnificent parabola and soon will not recognize the world he was born into (and the world he so successfully exploited in past years).  

I have friends that follow him around and a business partner that had Sunday brunch with him a few months ago.  I will check (didn't bother to ask before) and see how impressive the fat serpent really was and report back.

P.S.  Look at the places this codger puts his political donations...

I believe he has historically advised people to stay away from tech stocks as well, many of which have performed fantastic.

I think that Warren Buffett is too much old to try to understand this new type of tecnology. Maybe he consider that an other type of investment like house is much good than bitcoin, but my opinion is that in future he will repent about this thing.

To the OP, do YOU have any thoughts? Thanks for the link but what's the point of this thread? What's your position?

He doesn't like to buy assets he doesn't know abost. Also, He doesn't invest in anything related to technology.

His answer isn't "so god damn stupid" it's actually pretty logical, sensible, and smart. The only element he doesn't explain way is the finite amount of Bitcoins that will exist. If there were only checks or money orders or debit cards available in the world, let's say 21 million, would there be a premium to use them as a form of payment?

https://www.cryptocoinsnews.com/warren-buffet-stay-away-from-bitcoin/ (https://www.cryptocoinsnews.com/warren-buffet-stay-away-from-bitcoin/)

The Crypto Coin News article (obviously) takes a defensive stance explaining why and how Buffet's opinion on Bitcoin can be dismissed away. The problem, however is that the Journalist, Evander Smart, doesn't do a very good job proving Buffet wrong.

Smart scoffs at Buffet's analogy that Bitcoin is like a check or money order by stating "that's like comparing an email to a telegram." I think he's implying that comparing an email to a telegram is a ridiculous idea. The problem is that it isn't, email IS like a telegram! Obviously the technology behind the telegram is the precursor to the technology behind an email. An email does everything a telegram does, although faster, more convenient, more immediate, a cheaper, which is very similar to the benefits Bitcoin provides beyond existing payment methods.

Smart claims that quantitative easing economic practices and zero percent interest rates are mirages, but they aren't. They exist, they were created by humans just as setting a price on goods and services was set by humans. Just like VIRTUAL currency was created by humans. QE and zero percent interest rates exist to stimulate the economy...they may work, they may not, but either way they aren't a mirage. (The fact that they aren't a mirage is what makes Bitcoin so attractive as alternative currency.) And to be completely honest, if we all lose electricity none of this becomes relevant...without electricity and the network that supports the general ledger the idea of Bitcoin disappears like a haze mirage on the desert in the distance.

I will agree with Smart on one point, Buffet doesn't understand the technology used to create Bitcoin. I agree with that (although I have no more knowledge about it than Smart does...which is zero because Smart has never talked to Buffet to confirm his lack of knowledge.) Buffet's lack of understanding on how Bitcoins are created isn't very relevant to making an investment decision. No one buys, uses, or holds Bitcoin because of the technology used to create it. They buy, use, or hold Bitcoin because of the benefits it provides. Those benefits are easy to quantify and therefore easy to build a "buy or sell or stay away" opinion on.

The most promising thing is that Buffet is making a call on it...just like at one point he made a call on IBM saying it wasn't a worthy investment. It legitimizes Bitcoin, which is what everyone here is hoping for.

The one thing that most of us can agree on is that no one knows which way the price is going to go and no one knows (with certainty) what the finite amount of Bitcoins and the upcoming mining halving rates will have on supply and demand. But you can be certain that supply and demand is not a mirage and will drive the price...into the ground or to the moon.

The reason Buffet advises potential investors to stay away from bitcoin is because he does not understand bitcoin. It has nothing to do with the underlying potential value of bitcoin, nor the potential success of bitcoin in the future

No one can be right 100% of the time on everything. He had a 50/50 of getting it right. Bitcoin is not even a decade old yet, and he probably made the money call too soon.

It's perfectly fine to say BTC is a bad investment if backed up with sound reasoning, but his reasonings are terrible. It's clear that he doesn't fully understand the technology based on his reasoning.

That's right  :) I believe bitcoin has a huge potential with real world purposes and that makes us the new elite  :)

Lets see where Buffet invests based on last months reporting... American Express, Bank of NY Mellon Corp, Goldman Sachs, Mastercard, M&T Bank Corp, US Bancorp, VISA, Wells Fargo & Co.

Buffet invests with five banks and the top three credit card services. NUFF SAID!

It sure does have huge potential IF the right people begin using it as a currency and not just to make money..

Does that mean, that I hodl more BTC than Warren Buffet?

So Warren Buffet is bullish on alternates?   :D

IT's only matter of time before he regret his choice
Bitcoin will become much more success than now  8)

Yeah that's it. Wanted to write the same. Seeing his investments it's obvious that he is against Bitcoin.
Because is it's future competitor.

as the losses of banks seem to get equally distributed over the whole country they are pretty safe investments

As far as I know the age of the Dinosaurs is over.
So, the age of the modern dinosaurs will soon be over too.
Say goodbye to Buffet, Rockefeller, Rothschilds, etc....

They have NO control over crypto.
And chances are that within the next 50 years, money will be only crypto in the most advanced (modern) countries of the world.

At least that is what I believe.

He could be right....he could be wrong! I dont care..I still think it has a decent value n is really volatile..It is fun dealing with it! this is not what Mr.Buffet would like anyways!

is this real?
he doesn't understand bitcoin? it sounds really strange to me

he is one of the most important investors in the history

I'm a BTC supporter and yet, I believe Warren Buffet's right because BTC is not an investment. I see BTC as a currency and very few currencies are good investments. Does anyone think as the US dollar as an investment?

Say all he can, Bitcoin community will stand strong like always.

Warren Buffer does not understand most modern technology (bitcoin inclusive). I am somewhat surprised this is the case because businesses need to be able to adapt to new technology 

he makes it pretty clear that he only invests in things he believes are "sure things" Companies that are tangible where he can see earnings and talk to ceo's.

Of course he isn't going to support some random internet fad.  If BTC takes off like we hope it will then trust me him and his people may not get in on the bottom but they will get in at some point when it is safe and stable and make 100x what any of us will lol

He's been right so far.  When he said bitcoin was dogshit it was near the ATH.

Buffett is a smart guy.  He doesnt need to geek out on the blockchain tech.  But he understands its a shir investment cause its all speculation

buffet used to see what many others didnt in his prime. now he is just living from his reputation and his predictions can influence markets..

Warren Buffett has a huge responsibility upon his shoulders. Therefore he is an extremely cautious person, both when he speaks and when he invests.

There is no way he would ever endorse such a high-risk investment as Bitcoin currently is. Not even if he had a good grasp of the underlying technology and its benefits.

Who cares? Eventually even geniuses stuck in old ways become outdated and irrelevant

Take the internet as an example.

People thought it would fail but it became the biggest thing ever in our history.

Indeed. Buffet is an old school guy stuck in old school ways. Exactly the type of mogul who will be deposed by crypto.
He even admits he never invests in things he doesn't understand and he doesn't understand tech. He's just bitching because he doesn't get it.
I feel for him though. My local has a regular roots music/ country jam every Sunday, everyone goes, they love it huge success all round. I hate country music. I hate it even more for ruining my Sunday's now. Poor Buffet, maybe he wants to drink with me on Sunday? We can listen to my power electronics records and I promise not to mention cryptos.

I wouldn't say that he is "bitching" about bitcoin, but rather is warning people that he does not know it is a good investment and that he does not invest in things unless he is certain that it will be a good investment.

You are right to say that he does not understand bitcoin

Buffet has had his day. Isn;t it him that doesn't even own a computer or a cell phone or something? Regardless, let's let the Younger entrepreneurs and visionaries and the people with their fingers on the pulse of cutting edge technology put their money into this. I'm sure he will be regretting his comments in the future.

Warren Buffett simply doesn't understand the potential of new technology because he's an old-fashioned, conservative investor. But he's still a great investor anyway.

He stays away even from every kind of company related to Internet or computer science in general... probably he's even not able to turn on a computer! Nonetheless he's still making big bucks and so he deserves respect.

Yeah I agree.!! + Warren Buffet is a guy who works with his instincts..! probably he doesnt know abt BTC completely.!! n just says  abt it instinctively!

Of course he doesn't like bitcoin. He made his fortune as the world's foremost value investor. Why should he change what works for him?

I bet he just don't want to take risk invest his money to bitcoin
And if me think bitcoin as investment, i won't invest my money to bitcoin

I bet he will be sad when bitcoin price raise up  ;D

Well, one thing is sure.
When he says "buy bitcoin", then it is time to SELL

Buy low, sell high.

I don't think that there is such things like ''like'' or ''not like'' in investment business.
Investors always looking for the best ways to invest money, and they shouldn't involve their personal feelings in the process.
In business one thing is always true, if you don't change or adapt to the changes, you loose.
It seems that Warren Buffet is to old or to conservative to change and accept ''new things'' or new way of investment.

That, and he is too old to bother about bitcoin because once bitcoin is really adopted and he is proven wrong he is probably already dead because he is not the youngest among us.

Tech stock or bitcoin is too difficult to evaluate. They do not provide predictable cash flow.

Everybody has his own style and techniques when it comes to investments. Buffet is a student of Benjamin Graham and has come closer to perfecting Graham's ideas and techniques than anyone else has. Buffet would have to gain a whole new skill-set by researching and educating himself about bitcoin. That's why he doesn't invest in bitcoin, forex, and other markets that are outside his expertise.

Only a fool spreads himself too thin and expects to make a profit, and Buffet is no fool.

Well said, he is a man I have much respect for. His opinion and recommendation is relevant on the conventional side. I would not say poor Warren tho, he is doing what works for him which is right. From my view he may have a problem with the absent of a regulated or central body as norm with a the regular financial markets. In any event do only what you understand and if you don't research and learn. Cause you may miss out on the next best thing.

My thoughts: Screw Warren Buffet. Who cares?
Read his actual quote - It's just a "NO SHIT" that logically makes no fucking sense as to why bitcoin shouldn't be valued.

His quote:
“Stay away from it. It’s a mirage, basically. … It’s a method of transmitting money. It’s a very effective way of transmitting money, and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope Bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways, and it will be. The idea that it has some huge intrinsic value is just a joke in my view.”

My response:
The US dollar is a way of transmitting money as well. A very effective way of transmitting money - it would be far less effective than bitcoin if everyone accepted bitcoin... You can do it (spend cash) anonymously and all that. Should we stay away from cash money too? NO - These things make it valuable. Checks are fucking retarded you can't just buy stuff with a check its a pain in the ass, you have to cash it, pay a fee, or have a bank account in which case it takes days to clear....
Soooo when bitcoin was under 10 cents per bitcoin it would still have been a bad investment in this guys mind - and if you did the opposite of follow his advice then you could very well be a millionaire/billionaire.....


Bitcoin rose too fast, just like gold did, and so it was bound to drop back down even if it was going to continue to climb eventually - the price was just artificially high because the skyrocket created a huge demand for bitcoin. Any idiot can see that happening / coming - but in the long run I think bitcoin is here to stay for the next 60 years AT LEAST - unless governments make it illegal or people find a better alternative, in which case it will probably STILL stay around, it just won't do as well.

So yes, bitcoin will struggle for the next year, maybe two, maybe three, but eventually people will see it for what it is and as more coins are released and the initial hype dies off the price will slowly become more and more stable. In the long run Warren Buffet could not be more wrong. It's just not a good investment at this point in time - I'd wait until it drops under $250.

He may be right about a lot of things and people respect him for it, but I guess technology is not his cup of tea.

No, it is not. Investing is. So, it would be a good idea not to listen to his opinion on how much to increase the block size but to listen to his opinion on what to invest in (and in what not to).

When you hear a high ranking member of the terrorist organization Illuminati issued a statement such as: “Stay Away From Bitcoin”

That's like an order that he commanded all illuminati members to sell all their holdings in Bitcoins, and never buy Bitcoin again. That's why you see the price of Bitcoin is now selling below $219.

My guess is:
The Illuminati is aggressively pulling out all their investments in Bitcoin.

Illuminati members were caught red handed many times manipulating the stock market using common sense strategy known as:

"Buy as a crowd" - Illuminati members all buy a certain stock (asset) at a certain time to push price up.
"Sell as a crowd" - Illuminati members all sell a certain stock (asset) at a certain time to drive price down.

That is the reason why, the mastermind Warren Buffett are confident enough to issue this statement in public, while he's holding an ice-cream cone.

"The Trend is Your Friend".

http://static.businessinsider.com/image/5182862aecad041313000007/image.jpg

BTC holds an intrinsic value that is very interest rate sensitive, I expect BTC to prove warren to be an out right liar, shortly after the first rate hike.

warren buffet lies all the time, you should do the opposite of what he tells you to do.

He lies/don't tell the full truth at least 50% of the time when it comes to the future.
He doesn't understand most new technologies as he says himself.

i dont understand why a guy like warren buffet isn't interested in own 1 or 10 bitcoins.. if they go to zero dollars he loses a whopping $200-$2000 his value fluctuates 1000's times that on a daily basis….

Why is it wrong to suggest most people should own just 1 or .5 btc...

Because he is scared.

He always stays away from what he doesn't understand.

Warren Buffet is a decaying dinosaur that's missing the boat, stay away from it.

Warren Buffet said "only invest in what you understand", and I think he's right. Warren doesn't understand Bitcoin. But I do. That's why I feel happy having converted pretty much all my savings into Bitcoin. I trust cryptography way more than the ECB and FED.

He is a long term value investor so naturally he won't support Bitcoin.

He also does not like IT hype companies, and missed several boats if you will - but his strategy is still successful.  I like his value approach in an ever crazier world :-*

That does not make Mr. Buffet a dinosaur. It is simply not part of his strategy. Railroads, ketchup etc. yes; Bitcoin and Facebook no.

http://www.fool.com/investing/general/2014/01/27/why-warren-buffett-would-never-buy-facebook.aspx

In that 2001 letter, Buffett said: "At Berkshire, we make no attempt to pick the few winners that will emerge from an ocean of unproven enterprises. We're not smart enough to do that, and we know it."

IMHO a bitcoin millionaire would be well advised to diversify into his Berkshire shares, and Mr. Buffett may be well advised to invest a little bit into cryptocurrency. Not a coin directly but into adoption.

Jimmy Buffet wants a cheeseburger "in paradise" and needs to know if he can pay with BTC.
Do you have any thoughts?

Seriously, Warren Buffet is too old to easily understand Bitcoin, unless he puts some effort into it.

Who cares about Warren Buffet? He made money with Berkshire only because he was lucky. I am sure that his IQ is much lower than that of an average investor. And we can expect similar statements from low IQ people.

You can say a lot things about Warren Buffet, you can hate him or love him but for the one of richest man on the earth you can't say that he is idiot with lower iQ or just lucky.
He invested very wisely over very long period of time and a lot people now trying to learn from him and copy his method.
He probably don't understand bitcoin much but this don't change the fact that in most cases he made good financial decision. 

No he was not just lucky. He had very low fees, he invested in insurance and got a cash flow that he re-invested, he rarely lost on any investments. When it was tough he used his political connections to get away with a profit.

He made a great deals over the years where he totally legally paid very little for very valuable companies.

His investments in coca cola were very successful too.

Bitcoin is a long term investment. Not a short term investment.

Warren will be die when BTC touches $1000 again!

You don't become one of the richest men in the world by being "lucky". And to say "his IQ is much lower than that of an average investor" is laughable.

Warren just doesn't invest in what he doesn't understand. And he sure doesn't understand Bitcoin.  ;)
That doesn't mean others should stay away from Bitcoin.

That is so true. Warren Buffet is the quintessential value investor of stocks. Bitcoin is not his style. Neither is FOREX, commodities, or just about anything else. He found what works for him and would be a fool to change now. Never mess with success.

yes of course buffet is scared about something that can change the global economic system

Maybe when BTC is $10,000.

Exactly different individuals have different perceptions and different beliefs. You cannot get carried away by what Mr. Warren says It is totally individual decision whether to go with bitcoin or not. It is more important how an individual views bitcoin nothing depends on what other says.

But you have to take into account that for fiat people obsessed with dollars, the Warren's opinion is the same as people here hearing an opinion about something by Satoshi. They have these cultish personalities with tons of followers.
Like I said before, Warren just doesn't know what Bitcoin is and how to use it, so do their followers, but they'll listen to him and ignore what Bitcoin actually is.

I think its up to him and his followers what they want, because bitcoin is developing now. Their mindset can be changed if world people begin to use it and get many advantage from bitcoin.

bitcoin could go either way still. really we are waiting on the collapse. he doesn't mention that. not sure i can listen to someone who doesn't mention the collapses. 

This is a perfect example of why Warren Buffet is one smart mother fucker.

What is bitcoin? It's a highly speculative, high risk investment, do you think Warren Buffet makes his fortunes on extremely risky investments? What does he have to gain by saying go out and buy bitcoin? Nothing, it's a zero sum game for him.  If bitcoin fails, he was right, if bitcoin becomes successful, the smart people will understand why he advised against such a speculative, high risk investment, he wins again.

the problem is that he still can't understand the technicals aspects behind bitcoin, that it will make it successful in the long run, so no, his point is a bit moot..

Don't forget that mr. genius originally made a fortune because he wasn't using his own money ;)  But I agree that Buffet is wrong on this one (or I wouldn't be here I guess).

Maybe he can see the potential in the blockchain technology and only sees bitcoin itself as a risk too great for him? Wasn't he always in low risk investments?

Dream big and do what you want, regarldess of what others say.  Guys like Steve Jobs, Bill Gates, etc etc would never of had success if they had listened to all the negative voices who told them their projects were stupid.

Even most of the people who invest in bitcoin startups don't know/understand the technical aspect of bitcoin. Imo one wouldn't need to understand the technical aspect of bitcoin to come to a conclusion about it's economical value in business.

His reasons for avoiding bitcoin are mediocre ... hey mr.Buffet “Stay Away From my Bitcoin” ;D

I don't think he really cares at this point enough to research it and will not go outside his comfort zone. Warren Buffet said that once you reach $500 million in NW there is pretty much nothing you can't buy. With the exemption of $1.1 billion Bill Gates and the like will still have plenty of NW left to rule the world!

Yeah just follow your dreams and the rest will be taken care of. You cannot expect that what buffet is saying is definitely gonna true so you just need to visualise things and make a decision on your own and just remember negative news travels faster then the positive one.

Same was the situation when computers and internet came into existence. No one was in support of both the things but it created an revolution around the world. And today it has become the basic necessity of the society you can afford to live without food for one day but you cannot live without internet.

Sounds weird but its totally true. No Internet could make you feel death. Imo that's the best invention, and I think btc will be other best invention.

Yes it is impossible to imagine a life without the internet If there is no internet you feel like handicapped and same will go with bitcoin in coming years as more and more people start using it and merchants starts accepting it as a mode of payment and Mr.Buffet you are wrong this time  :D

His first saying is do not invest in anything you do not understand. That's why he never touched tech or internet companies. He's old school, and avoiding Bitcoin is understandable.

If humans in general stayed ignorant and wasn't open to new things then humanity would have stuck in the hunter/gatherer stage.

Yes we know that he is the one of the richest person of the world but it doesnt make him that he is correct in whatever he says like today new technologies are getting into play and he has never been into the tech world so how can he be so sure about the bitcoins and he have never used bitcoin so I believe we should just ignore him

He got to be one of the richest people of the world through gambling on stocks, shares, and currencies. I'm sure he knows more than most will ever do about his investment choices, but ultimately he took gambles and got lucky. Why should we take his advice not to gamble on Bitcoin, especially as he doesn't understand it? By telling people not to gamble on Bitcoin he has become a gambler telling people not to gamble.

Why would he say otherwise?
He wants to drop the price because he desperately wants to buy cheap
and make huge profit. But that whale is over.
Unfortunately (for him) people will NOT stay away from bitcoin, as
this is against their interests. End of story.

He might be saying it for distraction and secretly investing himself. To the OP how do you say that he is of terrorist descent?

Great Point. I simply agree with you.

The best thing is to listen to yourself rather than listening to others. We know that he is a great person but now we should not forget that there is a generation gap and the youth of this generation are much more smarter than the traditional people they will not get carried away with the news they will do only what they believe in themselves.

I think he have totally lost it. And what else you can expect from him at this age?? lol.. The generation gap and the technology gap plays an important role he still believe what he used to believe in the past he is not in tune with the latest technology and one more point is he doesn't hold bitcoin so he is against it  ;)

Lol..Just remember old is gold but I don't think that what he suggests related to bitcoin can make any difference to the people who are already involved into the usage of bitcoins. People will speak anything about everything but the ultimate decision maker is the individual himself.

Ya he got all his wealth by gambling and now he is suggesting the younger generation not to gamble. That is stupid and ridiculous. As in the past there was no advanced techonology as we have at present and he is not technology friendly so he wants that everyone should stay away from the latest technology.

Holy Creep. Crazy guy I must say he wants to distract the mindset of people who wants get involved into bitcoins but for his kind information no one is gonna listen to him as people are much more educated and knows what  is right and what is wrong no one needs his opinion whether to use bitcoins or not.

Obviously he would say that, the man is like 80 years old first of all, and from his perspective he'd think bitcoin is confusing and shady for him. BTC is technology, and I don't think Warren Buffet is into technology, he earned his money from stocks and making good investments. He probably sees how bitcoin has been on some rough paths the recent year so he made that statement. It's completely understandable from his point of view. But I ain't staying away from btc for a little while

Why is anyone calling Buffet a Genius or "master of masters?" The guy is Psychopath. Buffet is the perfect backstabbing deceitful SOB our economic system produces.

Psychopathy: The clinical diagnosis refers to those who have shallow emotions or who lack empathy and guilt, are coldhearted, superficial, manipulative, impulsive or irresponsible.

http://www.washingtontimes.com/news/2014/mar/21/top-10-psychopathic-professions-ceo-lawyer-then-me/#ixzz3dg0lgtdg

http://time.com/32647/which-professions-have-the-most-psychopaths-the-fewest/

http://www.washingtontimes.com/news/2014/mar/21/top-10-psychopathic-professions-ceo-lawyer-then-me/

Buffet is known for not investing in technology.In early 1990's, Buffet said "Internet have no future, it's only for porn and gambling".

Hahah really ? maybe he have to clarified that internet is awesome, and bitcoin to of course he does not champion for investing in technology

he's an old geezer .. who cares what he thinks

And I say "forget that old guy" He's so old he cant understand something as complex as bitcoin.

I really respect Warren Buffet, he is really investment genius and very successful businessman but in this case he is wrong about Bitcoin or he understand potential of BTC and because of it he is against BTC.
He was very old, and the question is how he understands the potential of new technologies in the market.
It is possible that he realizes the true potential of Bitcoin but does not like long-term consequences of accepting Bitcoin by the growing number of users, and so he is trying to stop the growth of Bitcoin.
He still represents traditional investors and the old methods of investing and probably don't want to see new players in the field.

There is nothing complex about understanding how Bitcoin transactions and the blockchain works.
He will not be forking it, so he doesn't need to know the technical things behind it.
I am sure his tech experts have already told him about what he needs to know.
So, all he needs to know is how you can use Bitcoin as a currency, which is very easy to understand ;)

Chances are (and as has been mentioned before) he is secretly accumulating cheap coins.

somehow I am glad bitcoin is hard to understand and needs a lot of reading for someone to completely understand it and give a judgement on it afterwards. I mean, it's their loss right? I've tried to get friends interested in it but only a few have bought in and only a few have over a whole bitcoin. Hope those friends won't be disappointed in the future and I hope the ones that never took the time to care about btc at all will be disappointed they didn't buy later. :)

If he said stay away I'd say that a sign to be buying.

The man's 70, he's not a techy, obviously he'd say something like that.

yes with you there warren buffet aint always right look how much he lost on tesco

I wouldn't expect  W.Buffet  has have any idea what bitcoin is, or why he should invest in it. He's the world greatest investor in the things that he know

Here's Warren Buffet demonstrating once again why he has to be ignored when it comes to anything that has to do with technology:

http://www.youtube.com/watch?v=nrSB1sLgWLE


Would you trust your grandpa in how to operate your computer? Same shit.

Nope, grandpa cant ever go near my computer. He still has a pager actually. Warren did his thing, got lucky and is a smart guy but he's a dinosaur now and on his way out. He's vies on Bitcoin hold no weight with me.

Yes, he is too old to understand technology.

Unless this community gets its shit straight he could be exactly right. He says right in the article its easily "duplicated" which hes correct on. Let says banks around the world decide to piggyback a bitcoin like network, running their own nodes, their own mines for verification and leave BTC in the dust? They could very easily do this. "They" being a group Warren has a heavy influence in.

Who would use a centralized bank coin? Nobody.. ???

He also said once he would not invest into technology companies (because he does not understand them).
http://www.businessinsider.com/why-buffett-doesnt-invest-in-technology-2014-3?IR=T

Recently, he invested into IBM and plans to invest in three more tech companies.
http://www.cnbc.com/id/102464032

Times and opinions are changing  ;)

What he say and what he do, are two different things.

Maybe he say stay away, because he know, that when he say buy it RIGHT NOW, the price will go will rise too fast.
He buy now a lot of bitcoins for a cheap price and after a big company accept bitcoin and it will be sucessfull he say buy it, its the best thing in the world.
It is the first first decentralized currency and i bet he now very well what he is saying.

Never trust anyone for 100% when it goes about money, everyone will make profit.  ;)

IBM is not just a tech company. It has continuous and positive cash flow like other companies invested by Buffet.

He has grown too old.

Since he raise an anti-statement about bitcoin, Warren Buffet never counted as wrong, Remember he is a successful entrepreneur. And his age is similar like our parents, If our parents say anything about bitcoin because of lack of knowledge, Will we behave badly with our parents or talk rudely with them because of these topics.

Warren holds some stocks in Visa and Mastercard. Ironically, the founder of Visa is now a member of the advisory board of Xapo. Meanwhile Warren is too old to get with the times and become a main Bitcoin holder now that he would still be able to before it becomes too expensive.

Everytime I see this thread bump I buy more BTC.
That's right Warren. You're reading this for sure.

i think he would change it's mind if Bitcoin would become a mainstream payment option.

In the past, he has railed against Gold or other precious metals for many of the same reasons he criticizes Bitcoin, yet he still famous bought millions of dollars of Silver and then made a shit ton of money off of it.

Warren Buffet doesn't get technology nor does he invest in technology companies. I would be very surprised if he even handles his own emails.

Warren got some amazing long term picks, he got so damn rich with Coca Cola alone, but that's about it. What's nonsense is his followers doing every single thing he says, even if he has no idea about technology.

Why we must stay away from bitcoin?but, at the same time bitcoin is good investment ;D

so maybe all this no-sense from him is a strategy to have less competitors, and he is planning to invest a big amount for the future, secretly....

i very good and experienced investor like him should not be scared to invest in nothing, so it should strange that he is advising this...

And what about IBM? As far as I know it is a technology related company  8)
http://fortune.com/2015/05/15/warren-buffett-ibm-investment/

Warren Buffet has a ton of KLOUT in old world investing, his vast holdings probably include public and even private companies that churn btc into fiat.

We have a 50 Klout score on one of our bitcoin accounts and a top 1% expert klout rating

We say btc is no longer an 'investment hold' it's great to churn btc into fiat

Reasons we say that as KLOUT EXPERTS is

a. negative value growth 18 months
b. stress test FAILURE in our opinion of the BTC nodes

So we are bullish on using btc but no holding it

All the SM noise on btc and our bitcoin accounts all have clout and one is a major bitcoin EXPERT on Klout

lots of tech companies take btc still and almost all churn it

So it's a PAYMENT CHANNEL NOW and if you don't get caught in a day when the value is on a roller coaster it's a great payment channel now IN OUR EXPERT OPINION

If you expect btc to go to 3K from the sub 300 btc values now, no one can say it will or won't

18 month trend is btc is dead

YET IF YOU HAVE 1M value in btc, I'm sure the ceo's of Buffets companies would churn that btc into fiat to offer you whatever his empire does now

hah

Warren Buffet wants to earn money the old school way.

Just because he has been mostly right so far, does not mean he will be right forever. He is only human and no mortal can predict the future

Not really.

https://en.wikipedia.org/wiki/The_Giving_Pledge

I disagree a few humans have accurately predicted the future

Buffet is the prophet of Omaha to many

Let's see

Nostradamus
Edgar Cayce
Cheiro

Lot's of science fiction writers

There's the guy that put out a video on youtube, drew a line over asia and said three planes would crash on the line, within months 3 planes crashed on his energy line

Same guy said he has the quake algorithm, he put up another youtube video and said 13 days after passover major historic quake killing thousands and sure enough 13 days after passover the Nepal Quake hit

Are 'prophets' always right?

No

But some sure have amazing hits

Yup I also completely disagree with what the OP said.
Warren buffet is clearing his way to more riches as may be he is hoarding Bitcoin in secret and don't want someone bigger to get in his way, so basically it's his strategy.

I really think that Warren Buffet is financial genius but this doesn't mean that he is expert in everything.
Maybe he don't like revolutionary, free concept behind bitcoin, decentralization, no banks involved etc.

I'm sure there have been MANY great and very successful innovative tech firms that Warren 'stayed away from'.

Was he a big shareholder early of Facebook, Google, Apple etc?

Just let him do well on industries he understands..like Coca Cola.

He has self admitted several times that he doesn't understand technology, that's why most of his picks aren't technology related. He's got a lot of VISA shares and made a killing tho. It's sad he cant see Bitcoin's potential.

Yup by saying us to stay away from Bitcoin he is diverting our mind more towards Bitcoin.
I think he is just clearing his way into Bitcoin.

Warren Buffett has likened Bitcoin to a "check", a "way to move money around".
He is a brilliant traditional investor, but insomuch as Bitcoin is concerned he has no idea what is about to happen, or what has happened.

He could easily buy a bunch of them and pump the shit out of the market. The fact that he chooses not to do this means he thinks the platform has no future.

Yeah, he's no dimwit, whatever else we might think of him. I own some Bitcoin, I follow it and I want it to change the world but it might not and I might lose my money. I think I'm pretty likely to. It's risky. Buffett is strongly risk-averse.

Don't you know old people are afraid of change? If it works don't fix it mentality. Unfortunately he does not see the financial system as broken. Being rich and famous the monetary system as it stands doesn't really affect him as the saying goes "The rich get richer and the poor gets walked all over by them."

He's a value investor, not a speculator and that's all Bitcoin is right now. If you throw in his aversion to tech on top and his public vow to never invest in something he doesn't understand, he's being fully consistent and outed himself as someone whose opinion isn't relevant on this subject.

Buffet has made a lot of money investing, but that doesn't mean he's infallible
http://www.investopedia.com/financial-edge/0210/buffetts-biggest-mistakes.aspx

exactly Buffet is not an "oracle." Just because he says something it doesn't mean he's right. Thus, his opinion on bitcoin is just that: an opinion. And since Buffet is fallible

listen to the old man, stay away from bitcoin and sell them low... so he can buy them all  ;D

That's exactly what I was thinking when I read the title. After all, he didn't make his billions by announcing what he was doing ahead of time to everyone.

I think warren buffet will change its mind the same way that bill gates has done it when he realised of the bitcoin potential

Yes, once he has bought as much as he can sub $300 he will suddenly have a change of heart. ;)

Is this the real Warren Buffet?
https://bitcointalk.org/index.php?action=profile;u=318236

I hope not.

No he isnt lol because that guy(BTCtalk one) seems to know much about Cloudmining sites! Why would real Warren Buffet even care about cloud mining ponzis? :D

I think we can safely assume he doesn't give the remotest shit about crypto and never will.

Warren Buffet has never gotten anything right when it comes to technology. Im pretty sure the idea of investing in Mastercard and Visa wasnt his and some adviser told him to do so.

Warren Buffett must be highly respected for what he has achieved in the world of finance. Emphasis on the word 'achieved' though. He's about 85 though isn't he? He's probably way out of touch with modern finance methods never mind bitcoin. He should be on a yacht somewhere, drinking Cristal with 4-5 Russian escorts snorting cocaine off his dick. Leave stuff you don't know about alone Warren, enjoy life..........what's left of yours ;)

Yes, he is watching our activities here to make sure bitcoin development wont disturb his business  :D

Not all people can admit bitcoin in this world, even for rich guy like Buffet. He doesnt feel any advantage of bitcoin, since he have had everything in his life, so its advantage not working for him. Although he pay taxes, his wealth couldnt be reduced. But for us, we really need avoid any high taxes as many as possible, thats why we are thinking bitcoin is really helpful for us.

No because Bitcoin will (hopefully) be worth a lot more then.

Made me laugh! This man doesn't really understand Bitcoin! This man understands stocks better! If he can't understand an innovation, he mustn't discourage other people to let the technology innovate the world! Mr.Buffet, Better Focus On Stocks rather than Bitcoins :)

Warren Buffet is delusional...
He is one the well-known haters.
He is so focused in being a digital currency hater that he doesn't even want's to see what's the positive aspects about it.

He really should be yachting and getting high with the hoes. But he's not. He's talking trash about btc. Maybe we should hack some of his sites and take them down.

A person with billions of course will be on the side with banks that hold  their own fiat currency instead of of a currency whose value relies on the user(s). If his whole wealth was in purely bitcoin (hypothetically), his net worth would fluctuate hour by hour. I don't expect him to be so into the currency. Take a technological billionaire like Bill Gates or Mark Cuban who made their wealth through start ups with the internet. They'd be much more into the technology into Bitcoin (therefore a supporter) and rather than looking at it from only an economical viewpoint which is what Buffet is doing, they would see it's unique technology.

Have Bill gates or Mark Cuban made any statements related to Bitcoin? Or, at least, ones that are worth reading?

I think we can safely assume that most other billionaires that don't have large hands in the technology sectors don't have really informed opinions, but I could easily be wrong.

yep stay away from bitcoin... so Warren Buffet can take over what you left behind  ;D

Stay away from Warren Buffet  ;D

He originally warned us in 2013 right?  Today Bitcoin is below $300, so a lot of people did go in between $600-$1250 and lost their life savings.

Warren Buffet, ironically, may had been a fan of Bitcoin if he had known about it in 2009 but by 2013 much of the ROI was already tapped out.

I misspoke on Mark Cuban. I thought I read somewhere he supported Bitcoin, but in his Reddit AMA he doesn't believe it's the "future": https://www.reddit.com/r/Bitcoin/comments/2hk0jv/billionaire_entrepreneur_mark_cuban_bitcoin_has/

As far as Bill Gates goes, he believes it's better than regular currency: http://www.entrepreneur.com/article/238103

He was not talking abut Bitcoin being overvalued. He said that he didn't see any fundamental value in Bitcoin.
That is where the majority of us differ with him.

I wouldn't expect him to have any idea what bitcoin is, or why he should invest in it. He's the worlds greatest investor in the things that he know

A lot of people do care what he thinks because he has been such a successful investor. but he does not understand most technology companies, and bitcoin is much more advanced

No one will listen to that geriatric old fuck anyway so I wouldn't worry about it

Warren Buffett has spoken out against bitcoin in recent interviews. However, one of my favorite Buffett quotes involves the relative unimportance of timing compared to the actual event. It goes something like this (paraphrased of course), "If you know what will happen in a given market, it matters not when it will happen."

He was right in some sense because of the prices.

But Bitcoin is more than the exchange price, specially when the financial world is about to collapse

if bitcoin is a person he/she would said
"Stay away from Warren Buffet ppl"
bitcoin is just starting though

I will always stay with bitcoin.

May be the first time Warren buffet predictions may end in wrong. From a old saying, Giants also leaps, Buffet had mistaken bitcoin technology. Hopefully he will regret when bitcoin hit the moon. No one exact predict all the time and all the commodity. So, warren Buffet also.

Warren Buffet has been saying crap like this for forever...where have you been?

Warren Buffet doesn't invest in technology and probably hasn't taken the time to understand bitcoin

Like the article says, he doesn't invest in what he doesn't know. He also probably shouldn't make disparaging comments about things he doesn't know a lot about.  His comment is interesting but misses the point.  In my opinion, bitcoin doesn't have a great deal of intrinsic value because it's a great way of transmitting money, but rather because there is a finite supply of bitcoin that will ever be available.  The technology behind it, of course, makes the whole thing viable.  Buffett is also probably threatened by the notion of a currency that competes with the central banks he works with closely.  His companies make a lot of money from the old way of doing things.  He doesn't want to see disruption unless it is his company doing it.

He invests in stakes giving him constant cash flow.

He is trying to pull himself out of the financial world and try to enjoy the remaining years he has ahead. That is probably why he does't care much about new FinTechs

Warren is just a person afterall, he does not know everything. Bitcoin can indeed be replaced by another cryptographic currency but who knows.

There is that possibility... But I think Bitcoin will always remain relevant and maybe even used in a "gold standard" type of way...

When other cryptos offers more promising/beneficial features.. It may surpass Bitcoin in purchasing power a little bit, but each crypto will always be compared to the purchasing power Bitcoin holds... Especially after the fiat system has been replaced and we will no longer compare bitcoins purchasing power in terms of dollars.

its logical that some may fear what they do not understand...