WARREN BUFFET says Bitcoin won't end well

[glaciercapital]

What is your  opinion as per  Warren buffet statement, he is a wealthy giant globally he told CNBC on Wednesday the recent craze over bitcoin and other cryptocurrencies won't end well. "In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending,"
Am really scared hope the end is not near. I want to hear from knowledgeable individual what the future holds.

What the hell does WF has to do with crypto? He is against it so what do you expect? I suggest you guys just stop for a day and took a day off. To much negativity will really affect your mind and your health.

If you are scared and worried then just get the hell out of the market right now. That's why we always hear members saying "weak hands are shaken". You are the definitive description of a weak hands.

You can just wait this crash and not panic because this is just temporary. But if you want to incurred loses instead of profit in the long run, then sell everything.

at some point i have observed that people against the idea of bitcoin, really is pressing the issue about the end of cryptos and bitcoin. What they are doing is discouraging people from patronizing bitcoin ( correct me if i am wrong  ). Little did they know that with all the negativities about these kind of news, many strong hands are more encouraged to invest more. In this way, we can separate the weak hands from the strong hands.
Never mind these kind of predictions, if you want to buy bitcoin then buy... Nobody is stopping anybody.  

Lol Warren Buffett has held IBM's stock for the last 20 years, clearly he does not understand technology whatsoever. Besides all of these traditional wall street guys just don't understand this market because they have never seen anything like it.

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[dylanc]

He also said: "Why in the world should I take a long or short position in something I don't know anything about."

I think he may not really understand cryptocurrency and how it works. So, I would take his advice with a pinch of salt.

[Evilish]

Warren Buffet is a traditional investor, and has no understanding of technology. That can be seen from the fact that he invested in Apple Inc. just recently in 2016. If he had the right mindset and knew the potential of the company, he would have invested in that in its early days and not when the stock is already highly priced. Same can be said for the other tech stocks that he didn't invest in in the 90s. How his prediction ends remains yet to be seen, and I am fully confident that his prediction will be proven wrong.

[smyslov]

What is your  opinion as per  Warren buffet statement, he is a wealthy giant globally he told CNBC on Wednesday the recent craze over bitcoin and other cryptocurrencies won't end well. "In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending,"
Am really scared hope the end is not near. I want to hear from knowledgeable individual what the future holds.

I would like to remind you Warren Buffet is an ignorant newbie in the world of technology, so what he says has nothing to do with Bitcoin, or cryptocurrency only an idiot like you will post what that idiot like Buffet will say about Bitcoin, so if you can handle the truth then sell your coin and leave this to us.

[gvnsrbtc]

We saw the same movie with JP Morgan CEO's statement. Then we found out they bought thousand of bitcoins in low prices. Of course important men of this age have to say "bitcoins is bad/ scam/ ponzi/ unreliable". Because they see the blockchain technology will win this battle against dollar and gold.

[ashfer]

Well my dear friend you are wrong about your statement regarding what Warren Buffet said to CNBC  channel.The question asked to Warren buffet was whether he would do investments on bitcoins or any other crypto currencies and he made it clear to them that he does not want to have a bad ending because and he also made clear to them that he has no idea about what bitcoins or other crpto currencies are. he also made it clear in the talk show with cnbc news that he said so as he has idea only relating stocks share and business and he also made clear that he does not know anything about the digital money .so before making any post or coming to conclusion please make double check of his full interview conducted by cnbc channel.

[target]

Let Warren cry his ass out, this will only make him fool in the eyes of many when all adoption takes place. If he really said this statement, he is going to end like Jaime Dimon who shut his mouth. Feed warren some btc, someone should do this literally so shut him out for he don't understood a thing about it.

[LoyceV]

"In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending,"

Banks, government and rich investors fear losing their power.

Buffett doesn't know about it:

“We don’t own any, we’re not short any, we’ll never have a position in them,” Buffett added Wednesday. “I get into enough trouble with the things I think I know something about. Why in the world should I take a long or short position in something I don’t know about?”
~
In 2014, the octogenarian investor dubbed Bitcoin a “mirage,” warning investors to “stay away from it.”

Ask yourself: why would he keep sharing his opinion on something he doesn't know about? I think he's using his power to influence the crypto market. He's a very old and very rich, and he has a huge interest in keeping money in "traditional" investments, usually far away from new technology:

On the other hand, there’s some reason investors might not want to take Buffett’s advice on Bitcoin. While the Oracle’s overall investing track record is unparalleled, Buffett has been notoriously reluctant to invest in new technology—a weakness that has cost him even better returns over time. At Berkshire Hathaway’s annual meeting last May, for example, Buffett expressed regret for not investing in Google

(same source)

The great thing about Bitcoin is: it doesn't matter what Warren Buffett, banks or governments think about it. They can try to disrupt it, but they can't stop it.

I think he wants to buy some for himself and he likes a good bargain. So, FUD the market and then pick up when the price drops.

If you really think this, you don't know his investment style. What you're saying is something JP Morgan would do.

[greeklogos]

This is one of possible scenario for bitcoin. I think in his meaning he based on the end of all not centralized currencies, and you know, he is right. We know that there are successful not centralized projects in a state if the USA and as I know in Switserland, but the humanity tried to skip the government's system not once and it didn't end well. That's why I'm sure that we need to make money now while everything is good (9k$  is also high price, let's be clear)

[doaremon]

What people say isn't a headache to me or to any one who are in this platform. Let's come to the fact, what's happening to this platform. One day in past Bitcoin or any crypto currency was unknown to all of us. Day by day we got engaged to this platform. Crypto currency became little bit familiar to the world. Bitcoin started with only 5$ which is now at 9000$. This path of 5 to 9000$ was not easy. Many people said such type of statement but unfortunately it was seen that the platform remained as it were. Most interestingly those people were afraid of this kind of crypto currency and they never invest in this platform. Now the question raised why? Unfortunately guys I still didn't had this answers!!!!!!!! But I think one will come when I will get such answer.

[Juggy777]

"In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending,"

Banks, government and rich investors fear losing their power.

Buffett doesn't know about it:

“We don’t own any, we’re not short any, we’ll never have a position in them,” Buffett added Wednesday. “I get into enough trouble with the things I think I know something about. Why in the world should I take a long or short position in something I don’t know about?”
~
In 2014, the octogenarian investor dubbed Bitcoin a “mirage,” warning investors to “stay away from it.”

Ask yourself: why would he keep sharing his opinion on something he doesn't know about? I think he's using his power to influence the crypto market. He's a very old and very rich, and he has a huge interest in keeping money in "traditional" investments, usually far away from new technology:

On the other hand, there’s some reason investors might not want to take Buffett’s advice on Bitcoin. While the Oracle’s overall investing track record is unparalleled, Buffett has been notoriously reluctant to invest in new technology—a weakness that has cost him even better returns over time. At Berkshire Hathaway’s annual meeting last May, for example, Buffett expressed regret for not investing in Google

(same source)

The great thing about Bitcoin is: it doesn't matter what Warren Buffett, banks or governments think about it. They can try to disrupt it, but they can't stop it.

I think he wants to buy some for himself and he likes a good bargain. So, FUD the market and then pick up when the price drops.

If you really think this, you don't know his investment style. What you're saying is something JP Morgan would do.

Just cause they say old is gold, doesn't mean it always is. Warren is a stock genius you can't challenge that, however as rightly said by Lovyce he doesn't know anything of the crypto world, and it makes sense as his major investment and money is with the banks and centralised leaderships who do not likw bitcoins hence he shall never support it, his logic is and has always been invest in something you understand and he doesn't understand it, so he's sceptical i would ignore him outright.

[lalabotax]

What is your  opinion as per  Warren buffet statement, he is a wealthy giant globally he told CNBC on Wednesday the recent craze over bitcoin and other cryptocurrencies won't end well. "In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending,"
Am really scared hope the end is not near. I want to hear from knowledgeable individual what the future holds.

is he a future forecaster? even I can not determine exactly what will happen tomorrow. no one human will be able to predict 100% accurate. I guess he just thinks for what's happening right now. or there may be a plan behind everything he says. essentially virtual currencies such as bitcoin are helpful to many human individuals. in the future, the digital era will be more technologically advanced. and bitcoin are part of the digital age.

[TrumpD]

What is your  opinion as per  Warren buffet statement, he is a wealthy giant globally he told CNBC on Wednesday the recent craze over bitcoin and other cryptocurrencies won't end well. "In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending,"
Am really scared hope the end is not near. I want to hear from knowledgeable individual what the future holds.

Again this is clear and desperate attempt by the big corporations, moguls and financial institutions to discredit cryptos to their advantage. First Facebook, now Warren Buffet? Buffet is known as the "best investor mind" in Wall Street. When he speaks or the Stock Market reacts, so it is not surprising that he has come out to say these things to make the crypto market react negatively again. Who do you think benefits when bitcoin and other cryptos fall to very bad rates? It is them. And these are the same people who will buy them later on, or create their own ICO's to rule the crypto community. The future or our universe is tech, and make no mistake blockchain/crypto-currencies (digital payments/transactions) are very much part of that world. So let's not be fooled by the Big Shorts trying to discredit what we the community built without their help. They will rule it one day if we given in totally.

[timerland]

What is your  opinion as per  Warren buffet statement, he is a wealthy giant globally he told CNBC on Wednesday the recent craze over bitcoin and other cryptocurrencies won't end well. "In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending,"
Am really scared hope the end is not near. I want to hear from knowledgeable individual what the future holds.

Do your own research before you invest. That's the rule of thumb for investing in anything.

Don't listen to anyone just because they may seem like the authority. There have been plenty of people that have said bitcoin will die soon, bitcoin will crash soon, bitcoin is a ponzi scheme, etc. You get the point. And they said this when bitcoin was just $600, $400, or even $100 or less.

The fact is that bitcoin is groundbreaking technology when it came out, and it still is. Even if price wise we don't climb to previous heights, which I think will happen, bitcoin will still serve a particular niche of investors and users quite well that need this decentralization and globalization.

[cosmoo]

Maybe he is greast investor, but he is an old man that actually don't know about how it all works. Stupid people will sell their Bitcoins after his words. Smart people - will hold.

[Klestar]

Did he even invested and tried the cryptocurrency ? Though he brought success to BRK.A. he cannot say a thing on it unless he experienced it already. Foreseeing the cryptomarket will not reach a 50% of possibility because its very vague to see unless you are inside but the crypto system is decentralized meaning the control over it cannot be handle by someone else.

[guschin]

Many people will disagree to what he said but I agree to him. Although, we are very far away from that end, it will take minimum 20 years.

[trickyriky]

What is your  opinion as per  Warren buffet statement, he is a wealthy giant globally he told CNBC on Wednesday the recent craze over bitcoin and other cryptocurrencies won't end well. "In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending,"
Am really scared hope the end is not near. I want to hear from knowledgeable individual what the future holds.

It is hard to argue with Buffet. He is the biggest investor. Of course this is not good thing to invest all you have in cryptocurrencies but the potential of digital money is undefined yet clearly. Let’s be patient and wait.

[slothtrooper]

All serves to drive the prices down, great for newbies like me, it will of course re bound, the only question is how low does it have to go?

[eternalgloom]

Warren Buffet is a traditional investor, and has no understanding of technology. That can be seen from the fact that he invested in Apple Inc. just recently in 2016. If he had the right mindset and knew the potential of the company, he would have invested in that in its early days and not when the stock is already highly priced. Same can be said for the other tech stocks that he didn't invest in in the 90s. How his prediction ends remains yet to be seen, and I am fully confident that his prediction will be proven wrong.

Warren Buffet has also been wrong a couple of times, he even admitted being wrong not to buy stocks from Google and Amazon.

Source: https://www.cnbc.com/2017/05/06/warren-buffett-admits-he-made-a-mistake-on-google.html

There's no reason why he couldn't be wrong on this too.
He might have a point as well, this is starting to look more and more like the dotcom bubble, but that isn't necessarily a bad thing though.

I would think that once the bubble bursts, most of the bad actors in the industry will start to go down, but the good ones will survive.

I personally wouldn't mind a period of relative stability at whatever price point, we've seen it back in 2015.