cosmofly (OP)
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PrimeDAO - An Adoption Engine for Open Finance
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March 03, 2014, 03:13:27 PM |
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Warren buffet declared bitcoin as useless and strongly believes bitcoin and Cryptos will die in 10 years. He also thinks bitcoin is a terrible investment. This guy has been right ALL THE TIME and is smarter than the piglets and peasants on this forum Also confirms my theory that bitcoin has run its course as an investment Don't underestimate him, Big money will now stay away from bitcoin and I speculate that the price won't return 500% or more http://www.coindesk.com/warren-buffet-bitcoin-currency/ |
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seleme
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Duelbits.com
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March 03, 2014, 03:14:30 PM |
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10 years? I'm fine with that  |
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F-bernanke
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March 03, 2014, 03:16:13 PM |
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It's disturbing, right?  |
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SilverandBitcoins
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March 03, 2014, 03:21:33 PM |
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Correct me if I'm wrong....hasn't Warren Buffet also hated gold and silver since - even before the precious metals bull run? Also, isn't Warren Buffet a friend of President Obama? Granted, he is a legendary investment manager, but I wouldn't completely trust him.
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Cause, I aint proud - BTC: 1DyXSR8nsB56yhTUhR5HMKLzB6UpytiWnK
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joesmoe2012
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March 03, 2014, 03:22:33 PM |
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"This guy has been right ALL THE TIME and is smarter than the piglets and peasants on this forum"
That may be one of the dumbest things i've ever heard.
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GigaCoin
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Giga
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March 03, 2014, 03:24:35 PM |
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I want to say that he doesn't know Bitcoin enough, but I know Buffet doesn't say something unless he studied it. Its his core philosophy. He was also right about gold and silver peaking.
However as much as I have respect for Buffet, I think there is still a lot to go for Bitcoin from an investment perspective and it would have been a dream come true for me if he supported the crypto revolution.
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knightcoin
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Stand on the shoulders of giants
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March 03, 2014, 03:25:55 PM |
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Reminds me telco people and their pessimistic opinion about the new-born technology called internet ... now they do telephony over tcp/ip ...  |
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BitcoinQTlol
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March 03, 2014, 03:29:55 PM |
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Brb cashing out all my bitcoin and gold cos warren buffet said so!!!
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jbrnt
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March 03, 2014, 03:35:24 PM |
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He hasn't got the nerve to say bitcoin will die in 2 or 3 years, but said 10 years instead. This shows he is not certain, so chose to put forward something vague.
He is right about bitcoin being a bad investment, but he wouldn't tell you he likes to buy bad investments when they seemed bad at the time, and sell them when they becomes good investments.
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thezerg
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March 03, 2014, 03:36:58 PM |
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LOL, top holdings: Amex bank of NY GE (has big financial arm) Goldman Sachs Mastercard USB Wells Fargo And as far as I remember, he's never been that capable of evaluating tech -- he's thin and often late on tech... only getting in when the company is a force... http://www.cnbc.com/id/22130601 |
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spin
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March 03, 2014, 03:37:42 PM |
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He has always said it doesn't matter what currency you use (or what the impact of inflation is) it is better to own a business than the currency directly in the long term. Because if a business is providing something of value they will be paid no matter what happens to be going around in terms of currency. I agree that a currency can't be a good long-term investment (hides from tomatoes).
I don't agree that bitcoin or something similar won't be around though. I do believe bitcoin or something bitcoin-like will be around for quite some time. It has some key differentiating features vs a regular currency that is valuable.
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If you liked this post buy me a beer. Beers are quite cheap where I live!
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superresistant
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March 03, 2014, 03:41:02 PM
Last edit: March 03, 2014, 10:34:23 PM by superresistant |
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IamComrade
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March 03, 2014, 03:46:29 PM |
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"This guy has been right ALL THE TIME and is smarter than the piglets and peasants on this forum"
That may be one of the dumbest things i've ever heard.
Cosmo for some reason always addresses everyone here as pigs and peasants don't take seriously lol This is big news I think because a lot Of wall street types listen to buffet |
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MrPiggles
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Decentralized Ascending Auctions on Blockchain
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March 03, 2014, 03:47:44 PM |
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83 year old man with very limited interest in tech companies isn't phased by 5 year old tech.
well fuck me that's a surprise.
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boumalo
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March 03, 2014, 03:49:51 PM |
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Warren Buffet hasn't been right all the time, he probably never invested in any startup and any internet business
He bought low because he had informations and he used his cash flow from the insurance business to build an empire, he is a great investor and it is not nice to hear he thinks that about Bitcoin but he is wrong
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kneim
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March 03, 2014, 03:50:06 PM |
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He told us he never would invest in derivatives - these are weapons of mass destruction.
Then he did.
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Jeezy911
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March 03, 2014, 03:51:42 PM |
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LOL, top holdings: Amex bank of NY GE (has big financial arm) Goldman Sachs Mastercard USB Wells Fargo And as far as I remember, he's never been that capable of evaluating tech -- he's thin and often late on tech... only getting in when the company is a force... http://www.cnbc.com/id/22130601 Bahahahaa, no wonder |
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kkaspar
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banned but not broken
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March 03, 2014, 04:01:21 PM |
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Cultists hard at work..Funny how people are trying to undermine Buffet. I bet that the same people would praise Buffet if he would of said the same thing with an understandable positive note.
10-20 years is actually an over the top positive speculation. I'll be surprised if Bitcoin will be used by the wider audience after 2-3 years. 10-20 years would mean total stagnation on the entire field. You can expect this slow development in the field of optics, not software engineering.
And bitcoin is a bad investment, but it can be a good short-term gamble.
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Gabi
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If you want to walk on water, get out of the boat
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March 03, 2014, 04:02:26 PM |
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Meanwhile bitcoin increase its value to 620. Yes it is truly a bad investment, it makes traditional investments look like fail  |
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Pente
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March 03, 2014, 04:11:17 PM |
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Warren Buffet may be a genius when it comes to buying, renovating, and selling property. He is good at these things and it has made him very rich.
It does not mean that he knows shit about technology, much less cryptocurrency.
I consider his opinion to be somewhat interesting (like watching a train wreck), but ultimately worthless.
I just spent a couple months in Kenya. I can see how popular M-Pesa is there. I was walking with my youngest wife and she said that she wanted a coke, so I mentioned that neither of us had brought no money. She said no problem, walked into the nearest store with an M-Pesa sign (there are a couple every block on the main streets), did something with her phone, and they handed her 500 shillings.
People in Kenya are already using electronic currency everywhere. My wife pays her electric bill with it. She sends money to her parents using it. Some of the buses even use it. My wife is even using her phone as a wallet.
Bitcoin will work so much better here (and the rest of Africa - everyone has a cell phone) in place of M-Pesa. It is the future.
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