What do you think about Warren Buffet and Others?

[BasilHawkins007]

Hello,

I had read a few months ago that many people like warren buffet had bad perspective for cryprocurrency. He said that bitcoin will have a bad ending.

Do you think it's proper for him to gave a comment like that?

IMO it's not proper. Even if he was an expert in stockmarket but he was commenting on cryptomarket.

It's like an Electrical Engineer questioning the structural integrity of a building design by a Civil Engineer.

[HabBear]

Do you think it's proper for him to gave a comment like that?

Of course it's proper! The guy, and his sidekick Charlie Munger, are investment professionals. They have an educated opinion about investments that's worth hearing!

The only thing that comes off strange about their comments is how uneducated their responses come across. They clearly don't know much about cryptocurrency or why people or we believe it has value. It makes them look somewhat foolish...but I still respect their opinion.

[BasilHawkins007]

Do you think it's proper for him to gave a comment like that?

The only thing that comes off strange about their comments is how uneducated their responses come across. They clearly don't know much about cryptocurrency or why people or we believe it has value. It makes them look somewhat foolish...but I still respect their opinion.

Do you think they are doing that to manipulate the price and bought at the botttom?

[Suharti12]

Although he is an expert in stocks I do not think it's worth expressing, I think it's just one of his ways to create a stylish cryptocurrency market and a decline in prices and at that time he started taking the opportunity to buy at low prices.

[audaciousbeing]

Do you think it's proper for him to gave a comment like that?

The only thing that comes off strange about their comments is how uneducated their responses come across. They clearly don't know much about cryptocurrency or why people or we believe it has value. It makes them look somewhat foolish...but I still respect their opinion.

Do you think they are doing that to manipulate the price and bought at the botttom?

Times without number this has been said price is not determined by our individual thinking neither by the comments of what someone is saying in itself rather its the response of the market to such comments. Warren is no doubt a formidable force in the world of finance but that does not give him proprietary knowledge about everything and definitely not crypto. He has made his point which is entitle to, it is then left for us participant in the market to either prove him wrong or right.

On whether they are doing that to manipulate price to reach the bottom so they can buy, I would doubt that on Warren because I don't know which money he wants to make that he hasn't make before and if he decides not to make any comment, he is settled for life. Whether they manipulate or not, the question is what are you doing about it? Waiting for the price to rise and blame "them" or seizing the moment?

[1 currency now]

Although he is an expert in stocks I do not think it's worth expressing, I think it's just one of his ways to create a stylish cryptocurrency market and a decline in prices and at that time he started taking the opportunity to buy at low prices.

I can't compare the two topics. Bitcoin is much more difficult to trade now because it's very new. Warren Buffet is with the old clunky stuff.

[Wallflower28]

Wether he's comment is against or pro in cryptocurrency, we should respect his opinion. I also consider his comment in crypto but I did not support his opinion. I have my own way of speculation and as a crypto enthussiast, we must not easily grab by others speculation but we should make some research im avoidance in confusion.

[Meysa_richa]

It's just the way they spread bad news that made panic a lot of people and when it happened the price drop and he took the opportunity to buy bitcoin and bad news news like that has happened so often and actually it is inappropriate to make comment.

[maaydin]

it is proper for them to comment on crypto markets because they are educated professionals in a field which is so much harder than crypto world and people like him has very huge influence in this markets, so it is worth giving a hear to what they say but not believe in every word of them.

[Hydrogen]

Hello,

I had read a few months ago that many people like warren buffet had bad perspective for cryprocurrency. He said that bitcoin will have a bad ending.

Do you think it's proper for him to gave a comment like that?

IMO it's not proper. Even if he was an expert in stockmarket but he was commenting on cryptomarket.

It's like an Electrical Engineer questioning the structural integrity of a building design by a Civil Engineer.

Warren Buffett made his money by finding the safest investments and slowly building up his wealth consistently over a period of decades. That describes his approach to investment decades ago and its still the same today. Bitcoin being a new emerging technology which is relatively untested there is likely zero chance Warren Buffett would ever invest in it. Slow and steady is his signature move. I don't think Warren Buffett has ever invested in something new. He tends to favor tried and tested technologies which he believes are undervalued and have a good growth potential.

It is true that equities markets where Buffett made his money, valuate differently than precious metals or crypto currencies like bitcoin. There is the P/E metric in equities markets which could allow a better price/value approximation. Gold or bitcoin have no similar analogue. To some degree: you're right that Buffett is commenting outside his area of expertise. Also Buffett isn't someone who invests in new technologies and so one might criticize him there, too. He's not known for having skill or experience in recognizing good emerging technologies to invest in.

Buffett has always attacked gold and investments other than equities markets. Its nothing new from him.

[Yakamoto]

Hello,

I had read a few months ago that many people like warren buffet had bad perspective for cryprocurrency. He said that bitcoin will have a bad ending.

Do you think it's proper for him to gave a comment like that?

IMO it's not proper. Even if he was an expert in stockmarket but he was commenting on cryptomarket.

It's like an Electrical Engineer questioning the structural integrity of a building design by a Civil Engineer.

It's not necessarily improper, it's just a question of whether or not there is any merit that should be placed on the individual's comment. This comes down to a bunch of factors like the success of their personal lives, and a lot of that has to have been done on their own accord. If they have other decent insights for another similar subject manner then there is a decent chance that they have something to say that's worth listening to.

I personally won't listen to what he has to say for now.

[alyssa85]

Hello,

I had read a few months ago that many people like warren buffet had bad perspective for cryprocurrency. He said that bitcoin will have a bad ending.

Do you think it's proper for him to gave a comment like that?

IMO it's not proper. Even if he was an expert in stockmarket but he was commenting on cryptomarket.

It's like an Electrical Engineer questioning the structural integrity of a building design by a Civil Engineer.

He's a very old man (87) and he has said repeatedly that he doesn't invest in stuff that he doesn't understand.

During the dot.com boom in the 1990's he thought it was all hype and refused to invest. And from a financial point of view he was right to do so, because 90% of the dot.com stocks being touted were rubbish.

What he missed was that internet tech was transformational and not a fad. He missed taking a punt on Google and Amazon and others. And he didn't understand the detrimental effect that the net would have on businesses he was invested in (like the Washington Post, whose whole advertising model has been thrown out of the winder by Google and online ads).

He's basically doing the same thing now - he doesn't understand cryptocurrency, he thinks it will crash and burn. I don't know if he realises that the tech is transformational, but from his point of view, if you can't tell which are the winners, better stay away from it. Which is fair enough.

[Whibu]

That's not worth it, it can only lead to price turmoil in the market that resulted in the declining bitcoin price Because of the panic selling bitcoin.

[HabBear]

Do you think it's proper for him to gave a comment like that?

The only thing that comes off strange about their comments is how uneducated their responses come across. They clearly don't know much about cryptocurrency or why people or we believe it has value. It makes them look somewhat foolish...but I still respect their opinion.

Do you think they are doing that to manipulate the price and bought at the botttom?

NO.

Their role as investment professionals in the US and the world means they have a duty to be conservative and thoughtful in the investment ideas they publicly tout as "good". Many, many people read and follow their investment ideas. If they were to come out and say "Bitcoin is risky but has had phenomenal return in 2017" they could inadvertantly persuade many, many people to buy Bitcoin. This fact of their expertise and public role on the world stage requires they be careful with their public comments.

But, I genuinely believe they are against the idea of Bitcoin and cryptocurrencies.

[LFC_Bitcoin]

Fucking fossils

[Kokondao]

Given such comments will lower the bitcoin price, but the decline in bitcoin prices is not a bad thing for us, because we can start buying bitcoins at low prices because of bad news stuff.

[DooMAD]

I'll say pretty much what I said in the Charlie Munger thread, which is that these people are only ever going to understand the very shallowest depths of what little they've been told about Bitcoin.  Chances are, the only thing they've absorbed into their brains is that it's a speculative asset with no backing from any company or government that way too many people are portraying as a get-rich-quick scheme.  Based on their background and their limited comprehension of what Bitcoin actually is, why would they want to invest in something like that?  

It's all a question of perception.  Anyone who truly understands Bitcoin will often see the value in it (and I don't mean the fiat "value").  But if all you know is what you've seen and heard in the media, along with the gossip and half-truths from a bunch of people who are also listening to uninformed fools, then naturally you've got no hope of appreciating what the people who aren't selling for fiat see in it.

[UsernameBitcoin]

Warren Buffet is a famous person and a big investor.

He is also very old and does not understand Bitcoin. His advice on stocks and old investments is good but cannot be trusted when it comes to Bitcoin.

[Zin-Zang]

Stock Markets like Buffet are dinosaurs ,

Crypto is the future.  Buffet is irrelevant , which probably bothers him, so he insults what he fails to understand.  

[chesegrinder]

buffet, Dimon, jak ma and other big investors who have commented in bitcoin and cryptocurrency have the right to say what they want. As they study the economic and financial market for long time with their expertise in in financing and investment many of their statement affect the market as they have many followers (count me in). I don't believe that they don't have knowledge about bitcoin and cryptocurrency, bitcoin now is a big thing that recognize by many people around the world, i believe that these people are protecting their investment. But for me it is proper for them to say anything about bitcoin. In addition I watch a video that Jak Ma say that he don't know about bitcoin, but he is looking forward in the blockchain technology.