Bitcoin is not a currency?

[nix_7878]

I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years".

Is he a hater of bitcoin? while other big names appreciate the bitcoin.

Your thoughts?

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[1bitcoinsnet]

I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years".

Is he a hater of bitcoin? while other big names appreciate the bitcoin.

Your thoughts?

I know buffet won't be here in 20 years
He's like 100 now

Crypto will be the global currency

Crypto has moved into big corporations with eth

Every major bank has crypto divisions trying to create their coin

Currency is obsolete

It's all digital now

Most get direct deposit digital credits

Most pay bills with auto digits

Crypto just makes digital currency which everyone uses more secure

Old digital currencies tied to Fiat

Early crypto valued in Fiat

The eventual winner will be a global crypto valued in crypto

U see it now, new crypto is valued in fractions of what?

BTC

So Bitcoin is now what 800 billion in crypto assets is valued in

As soon as all these new coins started to be valued against BTC it proved buffet wrong

Fiat is the dinosaur

[RobertoMakeli]

I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years".

Is he a hater of bitcoin? while other big names appreciate the bitcoin.

Your thoughts?

His talk means nothing, he just the old man who don't like bitcoin, don't care about him. We'll see what will happen in next few years

[henriquelb]

for me it is not an enemy but I think that it does not have much knowledge about bitcoin, maybe in a time or some years change of opinion, bitcoin is still very young

[ss890]

Everyone is having their own presumptions about bitcoin and some of them love it and some of them are not sure about it. So most probably Warren is one of the guy who is not liking the idea of bitcoin making others rich! He struggled for isn't it but now every man can just get as much money as they could if worked properly on the project.

Anyway, whether bitcoin is currency or not is big question and many of them consider it as asset though it was meant to be currency by the founder of bitcoin that is Mr. Satoshi sir!

[mk4]

So Warren Buffett doesn't like bitcoin. Who cares. He's just one guy; and each person has their own preferences and opinions. Even though he's slightly right, due to bitcoin being only pretty much used as an investment right now and not as a currency.

Merriam-webster definition of currency:

1 a : circulation as a medium of exchange
   b : general use, acceptance, or prevalence a story gaining currency
2 a : something (such as coins, treasury notes, and banknotes) that is in circulation as a medium of exchange
   b : paper money in circulation
   c : a common article for bartering Furs were once used as currency.

I don't know about you guys, but bitcoin seems to accurately fall under "currency".

Would bitcoin be around in 10-20 years? There's no way to know. If the scaling problem still exists though, probably a better cryptocurrency could overtake bitcoin in terms of marketcap.

[charlie137]

WB promotes crazy daily soda consumption so he's stock will look better. doesn't look like a creditable guy

[1bitcoinsnet]

Just look at the market cap of all crypto

It's almost 1 TRILLION

Then look how every exchange uses BTC to value all crypto

BTC is to all crypto what the USD used to be to Fiat

It is the gold standard in the new currency system

When all currencies in crypto are valued against BTC that proves BTC is the new USD

[Kez1817]

      Maybe Mr.Warren Buffet does not like bitcoin and he try to discourage those people who are bitcoin believer and maybe his difinition of currency is that toucheable,he can hold and touch it like a paper money.

[farhaan]

Don't know whether buffett would be alive after twenty years,but bitcoin would still exist.Bitcoin has proved its potential already and it is no more in need of any one's certification.Some praise bitcoin while some other predict that bitcoin would die.We should just avoid giving importance to such people's stand about bitcoin.More over,he actually don't know about technology and stays away from such companies.

[Gibreil]

I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years".

Is he a hater of bitcoin? while other big names appreciate the bitcoin.

Your thoughts?

We have our own perceptions about anything, we have diversity of thinking and the opinion of one may lead to hoax or success. I doubt when he said, bitcoin will just exist 10 to 20 years. How he would know it? Is he a foreteller or storyteller? We could not guess the future based on what is happening right now but the point is, we must appreciate every second that bitcoin exist and helps the people to rise up from poverty. No matter what happens, I assure this that bitcoin remarks the history of currency evolution.

[Mandoy]

I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years".

Is he a hater of bitcoin? while other big names appreciate the bitcoin.

Your thoughts?

In some points he is right but he is right only in the term that bitcoin is not a currency. Bitcoin is not a currency since it has a high transaction fee and a long confirmation of transaction that would make it hard to be accepted in a coffee shop. But maybe in the future when there is a mass adoption of bitcoin then we can call bitcoin a currency. It is just a matter of time and in 5 to 10 years bitcoin will be accepted by the majority of the population.

[Scor1937]

Warren Buffet is really a wise man and even i see many youtube videos by him. He truely gives us the importance of money and huge definations on the inlet and outlet of money. He saw bitcoins that way and his thoughts were that but most of the bitcoiners won't trust/follow it. But yes, i do obey warren buffet as well.

[alan2here]

I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years".

Is he a hater of bitcoin? while other big names appreciate the bitcoin.

Your thoughts?

Actually he is very right at this point but I am sure he is still lacking in knowledge of Bitcoin because Bitcoin has grown tremendously this year and many of the major countries in the world have legalized Bitcoin and can see Bitcoin as personal property

[taiwww]

Satoshi Nakamoto purpose of introducing bitcoin is to eliminate the middlemen of any trade. To free people from banks who are manipulating and detecting them from time to time. Bitcoin is a currency, but its operations needs some infrastructure like internet, mobile wallet etc. This setup is not possible in all countries even not in all parts of the country. This has restricted bicoin as a currency. Due to limited supply and growing demand bitcoin`s price is increasing rapidly, as a result more and more investors are getting attracted towards it and making it popular mode of investment.

[suvo05]

I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years".

Is he a hater of bitcoin? while other big names appreciate the bitcoin.

Your thoughts?

While everyone is busy of making their own statement bitcoin is getting stronger and more popular. The people who are with the flow is making profit and who are against it, spreading rumours are watching people making money. Now it is our choice to here those kind of people or not.

[pooya87]

people like Warren Buffet are not experts in technology field including bitcoin and cryptocurrencies. what they are experts in is finances, investment and stuff like that. which means everything they say, they are saying according to their expertise.

this means when Warren Buffet or the likes of him are talking about bitcoin, they have invested in it or want to buy in the dip or want it to go up so they make profit when they talk positively like John McAfee.
but they still have little understanding of bitcoin, even if they are supporting it.

[BTCeminjas]

I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years".

Is he a hater of bitcoin? while other big names appreciate the bitcoin.

Your thoughts?

Maybe (Warren Buffett) was gone around 10 to 20 years not bitcoin, every one of us have different presumption on bitcoin some of them are hater and those need income love who love bitcoin. Never mind that old man maybe he didn't  need money he is rich enough that's why he hate bitcoin.
Yes other big names who appreciated bitcoin because they know bitcoin have big opportunity to help the economical growth to people who unemployed or to fulfill the daily needs of the users.
Perhaps he had a business and he think bitcoin is an obstacle to achieve his success.

[btccointalk]

I think he is a hater of bitcoin who don't like bitcoin.His statements doesn't matter when the fact is that bitcoin is getting stronger day by day and is rising really high.

[Harlot]

Warren Buffet is not a hater is he is just simply stating facts. And it is true on how businesses or establishments are accepting Bitcoin but yet they still price Bitcoin based on its U.S. Dollar value at which point they simply change the quantity needed in Bitcoin for you in order to buy their certain product or services. Warren Buffet is a respected man and has been well known for his investment and skills on growing his capital. I too is not seeing Bitcoin as a currency right now because of its ridiculous network fees, I really don't like how the buyer will shoulder and additional cost when paying.