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Author Topic: Big FUD attack by Warren Buffet, Bill Gates and Charlie Munger  (Read 195 times)
cellard
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May 11, 2018, 03:56:11 PM
 #1

https://www.youtube.com/watch?v=NBVDqAHQ4-M

Looks like Bitcoin is working: The people whose empires depend on Bitcoin not going up, are scared and have to show up national television to trash it.

This is a good indicator to start looking for an entry point if you haven't already. Noobs will get shaken out of the market with fake news like these, and smart money will jump in when the opportunity is right (that's once all the noobs have sold and there's only hodlers).

Remember: Bitcoin IS working. 21 million coins, unhackable, uncensorable, unconfiscable. What anyone says on any TV or website is irrelevant, only these fundamentals matter.

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There are several different types of Bitcoin clients. Hybrid server-assisted clients like Electrum get a lot of their network information from centralized servers, but they also check the server's results using blockchain header data. This is perhaps somewhat more secure than either server-assisted clients or header-only clients.
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May 11, 2018, 03:58:02 PM
 #2



This was a good response

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May 11, 2018, 04:28:24 PM
 #3

Looks like Bitcoin is working: The people whose empires depend on Bitcoin not going up, are scared and have to show up national television to trash it.

I agree that when the world's powerful are talking down about Bitcoin it's a good thing for us.

But you're misappropriating Warren Buffet's, Charlie Munger's, and Bill Gates' relationship to bitcoin. Bitcoin's success could help these guys. There is certainly no business venture of these three that can be threatened by Bitcoin. Buffet and Munger aren't bank owners, they're investment heroes. They serve as the ultimate endorsement of any investment - when they start talking positively about Bitcoin, we'll have entered the final stage of adoption. And Gates', obviously, benefits from technological advancement.

Buffet and Munger are talking poorly about Bitcoin because they want to keep "regular investors" away from the lure of a very risky investment. They don't want people to lose all their money because they're too uneducated to realize what they're doing. That's all. Bitcoin is very risky...it's also the king of the next technological revolution.

Remember: Bitcoin IS working. 21 million coins, unhackable, uncensorable, unconfiscable. What anyone says on any TV or website is irrelevant, only these fundamentals matter.

Yeah man, Bitcoin IS working. The financial news sites were joking about bitcoin a year ago, now they provide daily or weekly updates on it's price moves. That's an incredible shift in respect.

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May 11, 2018, 04:39:21 PM
 #4

Bill and his old pal, Buffet think they are FUDing. But in the real sense we Bitcoin veterans know they are FOMOing. Only noobs get shaken and show their weak hands at news like this. It isn't as if the news didn't shake Bitcoin a bit. It did. But that is just all there is to it. It won't make it dip like we saw a few weeks ago. Cryptocurrency is bigger than any individual. The Chinese did their worse, yet Bitcoin survived it. Sure, China is a bigger institution than these old men.


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May 12, 2018, 03:59:20 PM
 #5

I do not only respect Warren Buffet as an investor but also follow his principles in investing. However, it doesn't mean that he is correct in every case. In the recent Annual General Meeting, the partner of Warren Buffett publicly said that Warren Buffet is crazy or he is still learning (in context of acquiring 5% share capital in Apple). The same thing about other individuals, they are great but that doesn't mean that they are right in every case.

Everyone including Galileo, Wright brothers, Alexander Bell, Tim Burners-Lee were mocked in the initial phase of development and the same thing is happening with cryptocurrencies and blockchain. I'm not saying that blockchain and cryptocurrency is will surely bring the transformation but at least there is hope and we should not discourage these efforts. The same thing is happening with the artificial intelligence industry, there is a hope that things will be better down the road with the help of these innovations.

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May 12, 2018, 04:06:32 PM
 #6

I think that all the big guys like Bill Gates, Donald Trump and other rich people already have their bitcoin safe somewhere around =)

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May 12, 2018, 05:18:36 PM
 #7

Warren Buffet is 87 years old and he was born in those times when nobody was thinking about computers and worldwide web as a reality.
So why would we rely on the judgment of this cracked individual who has made his private wealth by organizing panic and skillfully manipulating the people's emotions?
Gates' motives are a bit different - it seems to me that he totally hates the very idea of decentralization since his Microsoft used to be a monopoly for a rather long time.

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May 12, 2018, 05:55:05 PM
 #8

I think that all the big guys like Bill Gates, Donald Trump and other rich people already have their bitcoin safe somewhere around =)
I really doubt if that’s the case because if they really had some money into bitcoins, they wouldn’t be bashing it so much. There is no way that any person however rich would want their investment to fail.



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May 12, 2018, 06:57:21 PM
 #9

I do not only respect Warren Buffet as an investor but also follow his principles in investing. However, it doesn't mean that he is correct in every case. In the recent Annual General Meeting, the partner of Warren Buffett publicly said that Warren Buffet is crazy or he is still learning (in context of acquiring 5% share capital in Apple). The same thing about other individuals, they are great but that doesn't mean that they are right in every case.
I don't even know why a lot of people here think that Warren Buffet is a FUdster when we all know that Buffet's classic textbook style investing does not fit well on cryptocurrency trading. Buffet's comments towards Bitcoin are always kept neutral. Only some of the members here thinks that his opinions are leaning towards to a negative one.

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May 12, 2018, 07:17:00 PM
 #10

Let them be. They have a conflict of interest with bitcoin, that is why they are fuding, also they dont understand it at all, as they dont understand anything with technology in it.

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May 12, 2018, 07:26:40 PM
 #11

Lol. What else is new? This happens every damn time in this industry. Specially on the most important moments. I believe that this will not shake off people who already know better and have experienced a lot already in this industry. I am even more eager to buy when people want to sell and sell when mostly want to buy. knowledge is power in this industry, research is important.

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May 12, 2018, 08:45:00 PM
 #12

I do not think it's an organized attack. A number of famous people denounce crypto pretty often. Time will show who was right.
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May 12, 2018, 10:09:34 PM
 #13

I don't think this little "flash crash" was done by those statements. Yes those are well known figures, and their opinion matter to a lot of people, but they all know what already happened in the past, when Buffet talk trash about BTC. It crashed only to get new heights in the future. I think people already know what they think about bitcoin, so those who wanted to sell based on their opinion already did so. Their direct influence over crypto is probably gone now in my opinion.

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May 12, 2018, 10:35:49 PM
 #14

I don't understand these sudden attacks. Is likely that these billionaire may be owing some bitcoins secretly and want to owe more through FUDs? Do they really care about bitcoin investors as they may be sounding? Is there a way bitcoin is threatening the stability of their businesses? Anyway, the news will died out soon like any other FUD so it's another time to buy. It's pretty good buying the dips.

PS: Why does Bill Gate say because bitcoin does not produce anything, it is not worthy to be an asset? What about the services rendered to users of bitcoin in terms of sending payment in the shortest possible time? What do banks produce to earn as much as they earn? Aren't banks service providers just like bitcoin?
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May 12, 2018, 10:59:45 PM
 #15

I don't think this little "flash crash" was done by those statements. Yes those are well known figures, and their opinion matter to a lot of people, but they all know what already happened in the past, when Buffet talk trash about BTC. It crashed only to get new heights in the future. I think people already know what they think about bitcoin, so those who wanted to sell based on their opinion already did so. Their direct influence over crypto is probably gone now in my opinion.

With that said, all those billionaires who are against bitcoin and keep on attacking the ecosystem has short term effect. And the more they attack it, the more people gets interested and their FUD lost its traction.

And I also speculate that they are spreading negative news because they are stock guy, they don't stock investor to shift their funds to crypto because their portfolio will definitely affected.

I think that's the main reason why they keep on saying things that will drastically impact our market, if our price goes down, chances are, crypto investors are moving their funds across stocks which is very advantageous to them.

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May 12, 2018, 11:46:43 PM
 #16

Yeah man, Bitcoin IS working. The financial news sites were joking about bitcoin a year ago, now they provide daily or weekly updates on it's price moves. That's an incredible shift in respect.
Yeah no. It is not respect. It is what people want. And media takes the side of the people, even though they do all that manipulation shit.
This is a good indicator to start looking for an entry point if you haven't already. Noobs will get shaken out of the market with fake news like these, and smart money will jump in when the opportunity is right (that's once all the noobs have sold and there's only hodlers).
That is so stupid. What makes you think that there are only "hodlers" and noobs? For all you know it is the same person who is buying and selling the same amount of bitcoin through different addresses. There are infinite number of possibilities of what can happen to the price and how can it happen.

Whatever these rich people are saying, they are saying it out of spite, they are saying only what they know about which is not very much. They haven't done a very good research personally on that. That's why the FUD.


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May 12, 2018, 11:57:07 PM
 #17

I do not think it's an organized attack. A number of famous people denounce crypto pretty often. Time will show who was right.
It has been like that years ago, and it's still like that today.

Charlie munger years ago said that Bitcoin was rat poison, and then he updated his statement to match current prices, he said that it's more expensive rat poison now, which is actually a very good joke (while it's not a joke).

I wonder what he will consider Bitcoin to be once it smashes through the $100,000 mark. He definitely has to come up with something different than *even more expensive rat poison*.

On the other hand, it may very well be that he won't ever be seeing Bitcoin reach $100,000 in the coming years. He's 94 years of age and still thinks he's needed in a time where his input is no longer unbiased.

I get it that one doesn't have to like something that others do like, but just keep your mouth shut. Calling it names while Bitcoin keeps growing only makes him look worse. It has an opposite effect.

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May 13, 2018, 05:09:47 AM
 #18

I do respect Buffet and Gates, but that does not mean I just humbly follow all their pieces of advice. Well, There is certainly advice we should take from both great peoples, but my thought about cryptocurrencies is fixed and final.

The other problems are the newcomers who haven't yet built a comprehensive understanding about cryptocurrencies, so they are shaken when hearing those kinds of news.
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May 13, 2018, 05:12:32 AM
 #19

Either he doesn't fully understand Bitcoin or he's spreading FUD(Fear of Uncertainty and Doubt) to possibly buy the dips

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May 13, 2018, 05:15:36 AM
 #20

https://www.youtube.com/watch?v=NBVDqAHQ4-M

Looks like Bitcoin is working: The people whose empires depend on Bitcoin not going up, are scared and have to show up national television to trash it.

This is a good indicator to start looking for an entry point if you haven't already. Noobs will get shaken out of the market with fake news like these, and smart money will jump in when the opportunity is right (that's once all the noobs have sold and there's only hodlers).

Remember: Bitcoin IS working. 21 million coins, unhackable, uncensorable, unconfiscable. What anyone says on any TV or website is irrelevant, only these fundamentals matter.
Those guys you mentioned are not Gods so there in no need to trust their words. Tongue

The millionaires who are attacking the bitcoin knows the potential level of bitcoin this might can bring the equality to the world by decetralised money system.But I don't think the rich people wants this to happen so they can do as much as they can to make bitcoin dump so the investors need to trust on bitcoin and keep investing on them.

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