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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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MADinMelbourne
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May 05, 2013, 02:31:12 PM |
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he's obviously upset he didn't buy in at 1c per coin... at that time though he was learning how to use a mouse, it was just all too much.
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TTBit
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May 05, 2013, 02:58:05 PM |
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Warren Buffet has commented on bitcoin? Come a long way. What are the odds Obama says "Bitcoin" by the end of the year? I'm sure he would be pro-bitcoin and glad of all the wealth created because of it  |
good judgment comes from experience, and experience comes from bad judgment
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Realpra
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May 05, 2013, 04:03:31 PM |
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Warren Buffet, to my knowledge, has a strategy to stay out of things he doesn't understand. He doesn't understand IT and he also stayed out of the DotCom bubble.
This doesn't mean he is saying "Bitcoin is bad", its more like he is saying "not my area of expertise".
All prudent enough really.
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TraderTimm
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May 05, 2013, 05:26:51 PM |
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Oh no, a fossil doesn't embrace an emerging crypto-currency.
Obviously we need to make a steam-powered miner and call it the "Knickerbocker Steam-Chainer" to get his attention.
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fortitudinem multis - catenum regit omnia
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HorseRider
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May 05, 2013, 05:56:50 PM |
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Warren Buffett used to buy stamps when he was a kid. He did not buy bitcoin? I think it is a good news for us, as he may buy it after the meeting.
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16SvwJtQET7mkHZFFbJpgPaDA1Pxtmbm5P
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grondilu
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May 05, 2013, 06:57:48 PM |
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Buffet is known for bashing gold as being a sterile asset. So it was quite obvious that he would not like bitcoin.
Still, he's a great guy and an inspiration for all investors.
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freedomno1
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Learning the troll avoidance button :)
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May 05, 2013, 07:00:22 PM |
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Well to be honest Warren is a smart investor if he doesn't understand something he won't invest in it that's why he tends to stay out of IT related stuff and Bit is IT related. Doesn't mean he does not like bitcoin or disapprove just that hes not aware of it and lacks a perfect understanding that's what makes him the oracle he is willing to admit his weaknesses and focus on his investment strengths.
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Believing in Bitcoins and it's ability to change the world
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Stunna
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Primedice.com, Stake.com
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May 05, 2013, 09:03:59 PM |
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Not surprising, I think it would be unlikely he will ever invest in bitcoin regardless of how big it grows. He only likes to invest in things that deliver profit/dividends
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StarfishPrime
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May 06, 2013, 05:12:54 AM |
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Warren Buffet has commented on bitcoin? Come a long way. What are the odds Obama says "Bitcoin" by the end of the year? I'm sure he would be pro-bitcoin and glad of all the wealth created because of it Sure as in: "And Bitcoin? No Satoshi - you didn't build that!" |
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TorCoin.....
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ANN THREAD | ¦
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Seal
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May 06, 2013, 05:33:17 AM |
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Well to be honest Warren is a smart investor if he doesn't understand something he won't invest in it that's why he tends to stay out of IT related stuff and Bit is IT related. Doesn't mean he does not like bitcoin or disapprove just that hes not aware of it and lacks a perfect understanding that's what makes him the oracle he is willing to admit his weaknesses and focus on his investment strengths.
Yep, the biggest point I took from reading the many books written about his investment philosophies: A. Invest within the bubble of what you know B. Don't invest in technology These were all written in the days before he invested into IBM but they all show his reluctance to jump into the crazy world of technology let alone bitcoin. I guess that philosophy works for him being one of the richest men alive so who are we to argue. |
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kjlimo
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May 06, 2013, 02:04:25 PM |
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Warren Buffet has commented on bitcoin? Come a long way. What are the odds Obama says "Bitcoin" by the end of the year? I'm sure he would be pro-bitcoin and glad of all the wealth created because of it Sure as in: "And Bitcoin? No Satoshi - you didn't build that!" haha, awesome. |
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epetroel
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May 06, 2013, 02:11:13 PM |
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Warren Buffet, to my knowledge, has a strategy to stay out of things he doesn't understand. He doesn't understand IT and he also stayed out of the DotCom bubble.
This doesn't mean he is saying "Bitcoin is bad", its more like he is saying "not my area of expertise".
All prudent enough really.
^^ this, 100%. |
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BTCLuke
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May 06, 2013, 07:27:46 PM |
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What a bunch of Buffett ass-kissers in here... Have you people forgotten that that old bastard makes pretty much all of his money by using the state against us?  I truly hope that he never holds a single bitcoin and will one day be looked upon as a state-loving loser that simply cannot understand the present world. |
Luke Parker
Bank Abolitionist
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DeathAndTaxes
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Gerald Davis
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May 06, 2013, 07:30:34 PM |
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I would have been surprised if Warren Buffet HAD bought Bitcoins but lets take a step back.
Buffet was asked about Bitcoins and had enough awareness of Bitcoin to provide a response.
Three years ago it would have been ... "Bittycoin what?"
Kinda shows how far Bitcoin has come in terms of mindshare.
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grondilu
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Activity: 1288
Merit: 1076
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May 06, 2013, 07:43:55 PM |
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Have you people forgotten that that old bastard makes pretty much all of his money by using the state against us?
What are you talking about and who is "us"? |
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BTCLuke
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May 06, 2013, 08:01:36 PM |
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Have you people forgotten that that old bastard makes pretty much all of his money by using the state against us?
What are you talking about and who is "us"? I'm talking about Corporatocracy. "Us" = the US taxpayer at least. Although when you're playing the game up on that level, the amount of money affected has global consequences. |
Luke Parker
Bank Abolitionist
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gramma
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May 06, 2013, 08:15:04 PM |
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I would have been surprised if Warren Buffet HAD bought Bitcoins but lets take a step back.
Buffet was asked about Bitcoins and had enough awareness of Bitcoin to provide a response.
Three years ago it would have been ... "Bittycoin what?"
Kinda shows how far Bitcoin has come in terms of mindshare.
This. There is no way Buffet would have been invested in bitcoin. That it has even crossed his radar is enough, or should be enough, for people to sit up and take notice. |
BTC: 1MrNRPo7p8DEyxn87c9BCGwrbatBQeCHc1
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Realpra
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May 06, 2013, 08:23:34 PM |
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What a bunch of Buffett ass-kissers in here...
Have you people forgotten that that old bastard makes pretty much all of his money by using the state against us?
It is my understanding that Buffet invests in real industry, has criticized various present US policies as inefficient/unfair AND has not bribed any politician into lowering pollution standards or taxes for his businesses. The man is probably no angel, but he sure sounds better than a whole lot of other CEOs like Romney investing in fetus disposal while campaigning for anti-abortion and destroying other companies for quick profits. The Koch brothers are even worse I have heard... I truly hope that he never holds a single bitcoin and will one day be looked upon as a state-loving loser that simply cannot understand the present world. He might die before the total of Bitcoin surpasses just his wealth, so I doubt you will get your wish... |
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BTCLuke
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May 06, 2013, 08:32:48 PM |
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It is my understanding that Buffet invests in real industry, has criticized various present US policies as inefficient/unfair AND has not bribed any politician into lowering pollution standards or taxes for his businesses. He invests in industry that does not exist in a free market. His policy criticisms are nothing but hippocritical idiocy when he then goes out of his way to let the president use him to convince the lower & middle classes that socialism helps them. Have you forgotten why he got the medal of "honor?" The man is probably no angel, but he sure sounds better than a whole lot of other CEOs like Romney investing in fetus disposal while campaigning for anti-abortion and destroying other companies for quick profits.
The Koch brothers are even worse I have heard... What is this Strawman argument you are forming and what does it have to do with Buffett being a decent human being? |
Luke Parker
Bank Abolitionist
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cypherdoc
Legendary
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Activity: 1764
Merit: 1002
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May 06, 2013, 08:36:00 PM |
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Have you people forgotten that that old bastard makes pretty much all of his money by using the state against us?
What are you talking about and who is "us"? well, it is true that Buffett understands that the US gov't will step in to bailout any crisis. i remember quite clearly how he was allowed into special crisis meetings in late 2008 where strategies were being hatched to try and restore confidence. they used Buffett to try and influence public opinion that everything was ok and i'm sure he had inside info as to what extraordinary printing measures they were going to employ. his purchase of many stock shares during that period were effectively guaranteed to not lose by the gov't/us. |
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grondilu
Legendary
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Activity: 1288
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May 06, 2013, 08:38:05 PM |
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He invests in industry that does not exist in a free market.
Get lost. Buffet has no lesson to receive from you about business and free market. « Even as a child, Buffett displayed an interest in making and saving money. He went door to door selling chewing gum, Coca-Cola, or weekly magazines. For a while, he worked in his grandfather's grocery store. While still in high school he was successful in making money by delivering newspapers, selling golfballs and stamps, and detailing cars, among other means. Filing his first income tax return in 1944, Buffett took a $35 deduction for the use of his bicycle and watch on his paper route.[17] In 1945, in his sophomore year of high school, Buffett and a friend spent $25 to purchase a used pinball machine, which they placed in the local barber shop. Within months, they owned several machines in different barber shops. » https://en.wikipedia.org/wiki/Warren_buffet |
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BTCLuke
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May 06, 2013, 09:17:11 PM |
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Get lost. Buffet has no lesson to receive from you about business and free market. All your blind defense has done here is demonstrate that Buffett knew the concepts well that he later betrayed. |
Luke Parker
Bank Abolitionist
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melvster
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May 06, 2013, 09:23:29 PM |
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Classic misdirection, tbone  |
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joesmoe2012
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May 06, 2013, 09:28:31 PM |
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Agree with earlier posters that buffet is staying uninvolved for lack of knowledge of the industry. Also because its a shady, not very solvent market currently - something not many institutional investors like to play around in.
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grondilu
Legendary
Offline
Activity: 1288
Merit: 1076
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May 06, 2013, 09:44:23 PM |
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Get lost. Buffet has no lesson to receive from you about business and free market. All your blind defense has done here is demonstrate that Buffett knew the concepts well that he later betrayed. That's enough already to debunk what you said about him having made « pretty much all of his money by using the state against us ». |
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BTCLuke
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May 07, 2013, 01:42:22 AM |
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That's enough already to debunk what you said about him having made « pretty much all of his money by using the state against us ». Touche.  I gotta learn to not make so many sweeping generalizations. |
Luke Parker
Bank Abolitionist
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