Bitcoin Forum

I respect what he says about intrinsic value, economic moat, and whether something is under / over value.

However, I cannot but have to conclude that he is overly selfish, though incredibly intelligent and rational.

I remember he says something about the airline industry and even the IT industry (dotcom). What he says about the airline industry is that with its inherent capex, airline industry has not created any wealth for its shareholders.

The fact that Warren Buffett is so clear headed and as a matter of fact, that he is undeniable. At the same time however, he is overly cold.

Putting aside that the airline industry by itself really does not generate any / significant wealth for its shareholders, what is undeniable is airline's impact on our world. That we travel more often and the whole economy grows as a result.

The same can be said of the dotcom industry.

His donation of all his wealth after his eventual death is of course to be lauded & commended. However, that came as an afterthought.

Also what worries me even more is that before Charlie Munger became his partner he was not even concerned with Management Quality. To him, a company that is undervalued but with lousy management can still be invested upon, and good management with an overvalued company cannot be invested upon.

It is way too cold for my liking. I often tell people when I evaluate company I am also pretty much cold, I don't like to listen to reasons and results speak louder than any bullshit that they might tell me.

If I am zero degrees celcius, then Warren Buffett is -273.15 degrees celcius (0 Kelvin).

I guess that what makes Warren Buffet one of the wealthiest person on earth. He is cold and very calculated. One trait that we really hate to see in a individual but we can't take away the fact that he uses it to his advantage making him loads of money overtime.

I also observed this to many rich businessman in the past, they are emotionless, even buying small competitors because they know that someday this small company would grow and possible to overtake them. I guess WB may be cold and selfish and we don't like his attitude, but that makes WB the WB that we all know today, one of the world's successful and richest men in the world.

You can be cold and brutal in business while still being a kind person. That's why it's business, there should be nothing personal about it, no matter what peptalk your boss give you. It's all about the bottom line.

Of course this would be harder if you are some start-up and your current project is your "baby". But the sooner you realize that, the less disappointed you would be.

Well, he is an investor, of course he thinks that way. Why put your money in an endeavor that would not earn you interest. Even a simple merchant knows that if there's no profit to be made then it's not worth the effort (unless you need the positive PR of course).

;D ;D That got me laughing. He is a business man and we all know what all business men are after is profit. Bro! You said it yourself, you are a cold dude too when it comes to business and it is just the degree of coldness that differs here which I am sure he knows all the things he has seen about business that made him like that. Would you want to put your money in something that is not going to be worth it at the end of the day? No! Also, as a business man, if my mission is to do some philanthropic stuff, that is a different ball game entirely. I guess we just have to call a spade a spade.

Is this a rhetorical question?

I don't give a shit about thoughts of traditional investors, warren buffett because most do not know the crypto. It is clear that crypto is very different than stock market. But bitcoin may be bubble, has no value. I don't say the opposite

well warren buffet is one of the most richest people in the world but we can only say that he isn't so aware what bitcoin is there are so many forms and ways to make money and that's what warren doings he can relay in stock markets but in cryptocurrencies he doesn't know it well.

His statement was around "I don't know what it is and will not care to look into it". This is basically what he said, but the sensationalist bs media twisted his words to other meaning.
He's just an old rich man, won't pay to spend time studying new technologies for him.

Yea he is selfish because he wants people to stay invested into the stocks and assets that he has. He speaks unkindly of bitcoin for a reason.

Looking out for yourself is hardly selfish. He got to where he currently he is by being a businessman, and as a businessman, it is your job to create profits for yourself. He looks at the bottom line and little else, and nothing's wrong with that. There's no point in investing in good companies if you know you're going to lose a chunk of your investment; that's called charity.


So true. He conceded that he doesn't really know much about it, only that it has no backers and no intrinsic value, and that's probably enough to ring some bells in his head. We know it's speculative, we know it's risky, and those may be the very reasons he has for thinking what he does.

What I know warren buffett still wants to share with others even he is a philanthropist. Judging from his attitude he looks selfish and cold. A strong and confident desire brings success. Even warren buffett also wants to share success tips. To all people. Truly warren buffett is not selfish. I am amazed with his life

He is surely under a conflict of interest. And remember that he doesn't know much about technology. He kind of missed the tech boom and only started investing in Intel not long ago. I wouldn't be surprised if he missed the cryptocurrencies boom.

No backers would be as true to Bitcoin as it is to US Dollar or any currency around.
As for "intrinsic value", there's no such thing in this world. Materials have intrinsic properties, but value is 100% subjective and relative.
Value derives essentially from supply and demand, not from "how hard it is to make" or even on "how scarce it is". One thing can be hard to make and scarce and still have no value, as long as there's no demand for it, or can be easy and common and still have value, as long as it has demand.

even if he is ... how does that concerns us ?  does it brings anything bad to a person or the world  - no. at the opposite he serves as an example of how to create wealth and if he seems selfish to someone ... so let it be so.

Bitcoin may be different than anything that came before but at the same time bitcoin is still subject to the same economic laws as any other investment and to try to deny that will be a huge mistake, Warren Buffett is not another investor, he is the investor, and we must listen even if what he says is negative, it is important since it allow us to remain focused and to keep our feet on the ground.

I honestly don't know. I used to respect Warren Buffett's investment advice a lot until he started trashing bitcoin. I mean, for someone who puts so much emphasis on researching a company, its technology, and gaining a genuine insight as to whether it's undervalued or not, he seemed to dismiss bitcoin pretty quick. Did he actually apply the same rigor of research that he did with a company such as Coca Cola? He seems to be talking and acting lately like the typical wall street banker shill types who are either paid or grossly ignorant. I honestly expected more from him.

To answer your question.. is he selfish? When the people of the world are putting together their own one-world currency (like BTC) and he dismisses them so easily, then yeah.. in my opinion that is pretty selfish. Nevertheless I still hold respect for the man when it comes to traditional company valuation and stock market tips, but definitely no longer put him on a pedestal like before.

Warren Buffet is one of the famous and richest on earth he is a well known all over his country side

Thats business, he didnt become one of the richest people in the world by being stupid. Sometimes people like us overlook his selfishness, but if we try to look in his perspective then you will know that every move he takes was so calculated and cautious, if you told that a company is undervalued and with lousy management can still be invested then i think its true because we're looking for a good company with good project and undervalued to be invested on. I can bought lots of its stocks, and fired anyone in management who dont deserved to be in the management at the first place. If you learn about management quality then you must know that some people dont actually really belongs in their jobdesk in the first place. Its also true that good management with an overvalued company cannot  be invested upon because there are 2 reasons behind this, mainly it will have a sharp pullback decline and overvalued company means that the price didnt really make senses at the first place.

Not to be rude, but Warren Buffet made his wealth on the back of the old Fiat system. It is quite natural that new technology like Bitcoin would be foreign territory for him. < It is rumoured that he is still using the old flip-top mobile phones >

You have to respect the guy, because he has a wealth of old-school knowledge that are still applicable to some financial instruments today.

His fear of new technology comes with age. My Grandmother are also still using the flip-top phones, because it is simple to use. ^lol^  < The guy was born in 1930 and he is 87 years old after all >

If Mark Zuckerberg <age 33> or Bill Gates <age 62> were totally against Bitcoin, I would have seriously considered their inputs.

Mark Zuckerberg on Bitcoin - http://www.independent.co.uk/life-style/gadgets-and-tech/news/facebook-mark-zuckerberg-bitcoin-price-value-latest-blockchain-cryptocurrency-encryption-resolution-a8142531.html

It might help to remember Berkshire Hathaway and bitcoin (crypto) are competitors in a sense like coke and pepsi.

If investors flock to bitcoin, they're likely to abandon stocks and Warren Buffett's investments could suffer as a result on decreased trading volume and demand. Its similar to the price shifts we see in crypto markets at the moment where bitcoin's value falls when investors flock to altcoins like bitcoin cash or litecoin. The opposite also occurs.

Buffett knows that money pouring into bitcoin is money that isn't likely to be invested in the stock market to maintain the value of his own holdings. And so I can't blame him for attacking his competition, its self preservation and he has no choice but to protect his own stake.

That said, I think we all know Buffett would never endorse anything that isn't tried and true by decades of consistency. His style has always been to play it safe and opt for long term investment strategies. Its ironic then that Buffett and bitcoin should be at odds considering they both represent the long term value of HODL planning.

Take it or leave it, Warren is a legend and his opinion matters in the scheme of things for Jamie to have made a statement and price came crashing sometimes last year, if Warren should make a statement, he is being referred to by many economist, business leaders and even policy makers. He has paid the price to be there and lets give him that required respect.

Everybody is a potential capitalist no matter the amount of econnomic orientation or ideology you belong to. Its simply how are configured. A lot of businesses have come and gone but the people who makes money out of those inventions that have shaped the entire financial world are those that were ready to take the risk. Have you read about Ellon Musk, the way these people think are out of the ordinary and they dont actually gave a damn about anyone's feeling because that is not their primary motive for going into business its purely their results that matter and that is what people want to see.

Whether Warren is cold or not, its just normal because what he is trying to do is to protect his own interest same thing everyone of us will do if we are faced with situations that threaten our hegemony which is why Warren is critical of things such as crypto that could reduced his influence.

You have to give it to man the privilege of saying whatever he wanted to say. He is more experienced than anybody of us here and though we might differ on opinions (and he certainly is not expecting for us to agree with all he is saying in the first place) we still have to give him the respect that he rightfully deserves. Of course, the man is not perfect and he is admitting it but it will not stop him to say what can be in his mind on anything including cryptocurrency particularly Bitcoin once he is asked. I don't agree so much with what he said about Bitcoin but then again partly he can be saying the truth. Years from now we will learn on what happened with Bitcoin and we can see whether Buffet was wrong or right...let's allow the time and the history to judge what he said.

I do not have a problem with people expressing their opinions as long as those are their true beliefs, it is obvious most of us are in favor of bitcoin and we have skin in the game to prove it, if Warren Buffet does not believe in bitcoin then that is his choice and that is fine, what bothers me are all of those economist advisors which in one hand condemn bitcoin and secretly they are investing in bitcoin or that are paid to express bad opinions about bitcoin.

WB could be a selfish and thats wat makes his worth that much. He evaded technology all those years successfully and didnt have a computer on his desk and sent only one email all through his life. He is a very different person. May be thats why he is rich.

If the old way of doing things like stocks and bonds are Pepsi and bitcoin is Coke does this means that bitcoin cash is like the New Coke that everyone will abandon and hate, and that the lightning network will be the old flavor of Coke reintroduced after the New Coke fiasco and that we will win the cola wars the same way Coke won by just reintroducing the old stuff, this is great news. ;D

Well, whatever he is, and whatever he did, or have become before he died is completely not his fault. and same goes to all the people out there. no one has the right to judge anyone just because the other thinks that he is better in anyway than the other. not unless, he has gone through the same experiences as the other. just like those children that was born and raised as a terrorist. they have been implanted with the mindsets that completely influenced who they became when they grew up which are terrorists. and i bet, that if anyone was in the same position, same lifestyle, same people around them, etc., that person would completely be just like the other that he is currently judging.

just an eye opener. :)

Investor billionaire Warren Buffett joined those who believe that the market of bitcoins is on the territory of the bubble.

According to MarketWatch, Buffett raised this topic during the annual question and answer session held in Omaha earlier this month. While Buffett focused on various topics, during his remarks, he sometimes approached the crypto-currency market.

"People are worried about big price movements, and Wall Street settles the differences," he said. Describing bitcoin as a "real bubble", according to the publication, Buffett also criticized the idea of ​​assigning value to bitcoin.

He said to those present:

"You can not evaluate bitcoin, because it is not a value asset."

The comments of Buffett fell on a significant month for Bitcoin. After in early October the price fluctuated around $ 4,300 dollars, a week ago it rose to more than $ 6,100.

The fact that Buffett takes a tough stance against bitcoin may not be surprising, given that in 2014 he advocated that investors stay away from bitcoin. "Basically, it's a mirage," he said then.

Buffett is not the only observer who comments on the latest developments on the market. Earlier this week, Saudi Prince Alwaleed bin Talal said that bitcoin would fail.

Do you think that this is just a theoretical threat? Do you know what is the distribution of hashing power for today? The five largest pools for mining produce 70% of the hashing capacity in general. There are three large miners - AntPool, DiscusFish and Bitfury. They joined forces and reached the fatal level of 51%.

A loss
Once lost, Bitcoin can not be retrieved. And this also applies to operations - after confirming bitcoins can not be removed or canceled.

Already more than 3.8 million bitcoins were lost forever, and this is 23% of the total.

In 2009, James Howells, a specialist in English information technology, at his home namaynil 7500 Bitcoin without much effort. Then he threw out the hard drive of Dell laptop. Today, a hard drive worth about $ 75 million continues to be among the garbage in the Wales dump.

Warren Buffett is an expert in traditional investments and so his advices regarding crypto investments should not be given importance.

Warren buffet is too old school to understand crypto-economics. Hence, scared to get burnt.

Anyone with billion dollar of cash / portfolio becomes selfish at some point in their life...

Warren Buffet is selfish ? Well, put yourself in his shoes and ask yourself - Would you not call Bitcoin a scam, if you were Buffett and all your holdings were in stock markets, and it was becoming clear day by day that bitcoin adopters are not going to be looking at stock market as an investment opportunity, resulting a dip in his earnings..

I think maybe that is what make warren buffet become richest person. They should be selfish and cold because in every bussiness, being selfish and being greed is good as long it can make profits

I wouldn't call that selfish. Egoistic, self-absorbed maybe, with a little bit of vanity inside it. But not selfish.

I think Warren Buffet is selfish or not it's individual right. He is among the world's rich and businessman too, everyone can assume but if I personally do not really respond.

Warren Buffett is an example to follow for everyone who aims to be an investor. No matter the industry, the time or the amount invested, there is so much to be learnt from him.

WARREN BUFFETT may be wise in his own openion, especially when you look at the statement credited to him from a lay mans parochial perspective.
To me he is not selfish because fish is expensive in my country Nigeria but he is "self empty".

Warren Buffett is a good investor. But he was a good investor in the traditional business field he was interested in. He does not have the need to invest in electronic money, so what he says about electronic money is personal and his antipathy to Bitcoin. It is impossible to say that Warren Buffett is evil or kind on the basis of some of his statements. The problem is that researchers and investors in the Cryptocurrency market have a belief in what they are doing. I do not care much about Warren Buffett's speech.

Isn't this one if the hallmarks of succession business men?

I guess he's more of a realist, else he would not be in the position he's in. If one is going to invest into something simply based on whether they think they're good for the world or not, then you're not going to make as much money than if you invested on what you thought it was a greater opportunity.

Warren Buffett is also known for being a philanthropist who has donated 99% of his fortune to Bill Gates' founding business. He was unselfish and he was one of the great philanthropists and philanthropists. most admired in the world,