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JL421
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December 30, 2017, 08:36:36 PM |
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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? It's most likely an investment rather than a currency . Buffet is well versed with stocks and investments so he's pointing out that it doesn't have enough supply to be Called an actual currency. there's a limited stock of btc it makes it difficult to trade with it. |
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The grue lurks in the darkest places of the earth. Its favorite diet is adventurers, but its insatiable appetite is tempered by its fear of light. No grue has ever been seen by the light of day, and few have survived its fearsome jaws to tell the tale.
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eaLiTy
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December 30, 2017, 08:42:46 PM |
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Each and every individual has a different opinion about each and every subject and some has a different take on bitcoin than others and that is not a big surprise as everyone has their own opinion about the new technology ,Warren is pretty old guy and he might not understand what is the underlying technology for people to get interested in it in the first place and he does have an opinion against bitcoin ,but who cares those opinion as long as bitcoin serves everyone and people are happy using it.
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joebrook
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CryptoTalk.Org - Get Paid for every Post!
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December 30, 2017, 08:53:56 PM |
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Whether bitcoin is a currency or not depends on two people and that is the consumer who is willing to use it to pay for goods and services and the producer who is also willing to accept it as a method of payment. As far as these two groups of people are concerned, Bitcoins is truly a currency .
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Salesman4coinZ
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December 30, 2017, 08:57:12 PM |
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Warren buffet is on of the top investors of the world. But he has no idea about the future. The blockchain techology will change this world. He cant see this because he dont know what blockchain is and how does it works. SO maybe he is an top investor for stocks, but Cryptocurrencys are no stocks. The future will belong the crypto's, you can join this or yoou can be a to late comer  |
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iamjher
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December 30, 2017, 09:07:57 PM |
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Bitcoin is a currency but it so happens that it can be only use or spend digitally. if not then and its an asset because it increases, US Dollar is not a currency because its Philippines Pesos equivalent increases and other then.
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Pantoflascrypt017
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December 30, 2017, 09:11:35 PM |
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Now it is definitely not a currency in the same sense as dollars or euros yes, but can you still use it to buy things? Sure you can and does that therefore not still make it a form of a currency? Yeah the fees are way too high and the tx times suck but it doesn't change the fact that it can still be used to pay for things.
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Donawoite
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December 30, 2017, 09:16:07 PM |
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He is a hater of bitcoin. He doesn't want bitcoin to succeed.
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Catost
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December 30, 2017, 09:41:09 PM |
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In fact BTC is not a real current but that is his success. BTC is revolutionary. It gives new possibilities. A simple example: You can earn a lot more on investments in BTC. On the other hand it has some disadvantages, investing is risky.
Anyway I think cryptocurrencies, especially Bitcoin has bright future.
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richardsNY
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December 30, 2017, 10:18:58 PM |
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Yeah the fees are way too high and the tx times suck but it doesn't change the fact that it can still be used to pay for things.
If people and services start adopting SegWit, the fees needed to move value will decrease decently, but as long as SegWit adoption isn't picking up, people will still be subject to the current higher fees. Easy option I would say. Also, transaction times are pretty much near instant in most cases, so that's not really a problem. What you are referring to are the confirmation times, and yes, they more often than not work on people's nerves, especially in times where a higher fee translates into your transactions being included in a block sooner. In order to choose for a workable temporary solution, make use of SegWit.... |
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Walrus1
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December 30, 2017, 10:36:01 PM |
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Bitcoin as it is couldn't become a "global company" as it stands. Governments would never allow the people to control the economy in such a manner. It would be great if it could, and I hope it does to an extant but it is being watched closely by the fed for possible economic disruption, the rothchilds wouldn't allow such a thing
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Altero
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December 30, 2017, 10:54:15 PM |
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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 one of so many people doing FUD's towards crypto. It is much better if we just ignored those things because it contribute nothing for the improvement to us. In stead, it helps only to to people from crashing our life. I know that we have our decision and also we have instinct to feel what is right and wrong. |
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Cryptoshops
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December 30, 2017, 11:04:16 PM |
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Bitcoin is very much connected to the USD which is very sad to see as the banks and fiat money still control cryptocurrency because we all want to buy it using fiat money, then we hold on to it and sell it for back for fiat money so sadly the banks still have a huge hold over cryptocurrencys.
Only way it would become completly independant is if the price dropped and stabalised and the transaction fees droped a lot, so people could actully use it to buy and sell every day goods. Bitcoin is its own worse enemy and we are not helping it by pumping and dumping
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anas2909
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December 30, 2017, 11:11:13 PM |
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Each person has a different view, We could not guess the future based on what is happening right now, 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.
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Carmen01
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December 30, 2017, 11:17:52 PM |
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It's hard to predict the true value and the price of bitcoin because someone want crypto and someone also don't like it,i think why you think negative if you like right so it's base of experience here in any kinds of person so they can judge by that.Only thing i know bitcoin is good for everything that's all i can i say,Moreover don't think negative in crypto if you don't like it just leave.
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DunnDy
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December 30, 2017, 11:24:11 PM |
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It goes without saying that he must be the hater. Why we cannot call Bitcoin currency even many people use it to buy something? In the other words there is no denying that is a currency, but a special kind of currency which isn't physical. People who know even a little information shouldn't take any notice of haters like he.
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kojoannan
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December 30, 2017, 11:26:09 PM |
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It is wrong to say Bitcoin is not a currency. Currency serve as a media of exchange and a store of value, Bitcoins perform all this function. why then do we say Bitcoin is not a currency.
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michkima
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December 30, 2017, 11:27:00 PM |
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It never was. The thing is bitcoins can never be classified as currency using the old and conventional description of what currency is in most jurisdictions. The reason is plain and simple, a currency is something that is backed up by commodity such as gold or that it is backed up by a centralized authority or state. Both of which are not something available in bitcoins. The issue is clear, bitcoins are something else and it needs to be classified by the governments different from currency.
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Cryptoshops
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December 30, 2017, 11:30:03 PM |
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It never was. The thing is bitcoins can never be classified as currency using the old and conventional description of what currency is in most jurisdictions. The reason is plain and simple, a currency is something that is backed up by commodity such as gold or that it is backed up by a centralized authority or state. Both of which are not something available in bitcoins. The issue is clear, bitcoins are something else and it needs to be classified by the governments different from currency.
You are right I think its become an investment coin maybe something similar to shares |
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jigzaheedcoin
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December 30, 2017, 11:33:30 PM |
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Yeah the fees are way too high and the tx times suck but it doesn't change the fact that it can still be used to pay for things.
If people and services start adopting SegWit, the fees needed to move value will decrease decently, but as long as SegWit adoption isn't picking up, people will still be subject to the current higher fees. Easy option I would say. Also, transaction times are pretty much near instant in most cases, so that's not really a problem. What you are referring to are the confirmation times, and yes, they more often than not work on people's nerves, especially in times where a higher fee translates into your transactions being included in a block sooner. In order to choose for a workable temporary solution, make use of SegWit.... If it isn't a currency so how can we call it then? Could you tell me further what's segwit is all about in the easiest term? Normally,I just read information but now I can see better information from real people in here. This could be a good source byfar. Just in my opinion,I think it will be a currency someday if accepted in government. Let's wait and see then. |
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9jaflick
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December 30, 2017, 11:47:16 PM |
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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? everyone is entitled to his/her opinion, this is what him believe, but you believe is what counts! Do you agree with what he said? |
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