URGENT NEWS - Warren Buffet declares Bitcoin as a BAD INVESTMENT

[DeathAndTaxes]

Warren Buffet is a very smart investor in that he ONLY invests in things he understand completely.  He has indicated he doesn't understand Bitcoin (and a lot of other tech concepts he missed out on completely).  The good news for him is you don't need to know every home run just enough of them to beat the average.

Now if it was leaked that Buffet (or Berkshire Hathaway) was short 1M BTC well that would be a little different. 

[Buffer Overflow]

Buffet only really goes for companies that pay a dividend. His stance isn't the slightest bit surprising.
Problem is lots of investors listen to him.

[Melbustus]

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.
...

I'm a Buffet fan, as far as his style of investment. But he's wrong about bitcoin.

He describes himself as knowing little about tech, and wisely advises people to stay within their circle of competence. In that light, he shouldn't be commenting on bitcoin at all, but whatever. Being completely non-technical, I think he misses pretty much all the reasons why bitcoin/crypto-currency is a breakthrough that stands to steadily gain adoption over the long haul.

...
This guy has been right ALL THE TIME...
...

Actually, no. Go read some bios. He's right more than 50% of the time and makes big bets. As he states, it just takes a couple incredibly good trades in a lifetime to build fantastic wealth. Heck, his initial purchase of Berkshire Hathaway was a disaster that took many years to fix/pivot. He (and Charlie Munger) also very stubbornly stuck with the grocery-store stamp/points thing for DECADES after it was viable.

Anyways. Change "ALL THE TIME" to "MORE THAN HALF THE TIME", and it's a correct statement.

[C10H15N]

Buffet only really goes for companies that pay a dividend...

...and his company does not.  

The only way to make money by owning Berkshire Hathaway is to sell it (capital gains).

[Melbustus]

...
Now if it was leaked that Buffet (or Berkshire Hathaway) was short 1M BTC well that would be a little different. 

Heh - then he'd be under a helluva squeeze in the last 30 minutes... Did I miss some news or something?

[bitbouillion]

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

I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.
~Warren Buffet

Bitcoin is the opposite, that's why it's not Buffet's business and will never be.

[cypherdoc]

Buffett would've been wiped out if the Fed hadn't stepped into the GFC of 2008.

in fact, he was given a guarantee essentially to save GS:   http://money.cnn.com/2008/09/23/news/companies/goldman_berkshire/

[Buffer Overflow]

Buffet only really goes for companies that pay a dividend...

...and his company does not.  

The only way to make money by owning Berkshire Hathaway is to sell it (capital gains).

He clearly only likes receiving dividends, not giving them out.

[C10H15N]

Buffet only really goes for companies that pay a dividend...

...and his company does not.  

The only way to make money by owning Berkshire Hathaway is to sell it (capital gains).

He clearly only likes receiving dividends, not giving them out.

He uses the dividends to acquire more companies - he also wants long term investors. 

[superresistant]

URGENT NEWS - The United-Kingdoms declares Bitcoin as a CURRENCY



SO MUCH BUTTHURT FOR WARREN BUFFET

[ErisDiscordia]

Warren Buffet warns investors against investing in Bitcoin - price rises by 30% in half a day.

[RodeoX]

I URGENTLY don't care.

[Honeypot]

While Warren Buffet is a solid investor and someone with great deal of personal qualities that puts him above many people, I wouldn't hang onto every single word.

He makes mistakes, just like rest of us. I am sure he is fully capable of turning his opinions around, and no doubt profit from them as long as he is alive 10 years from now to see it happen.

He did manage to turn around that 'mistake' purchase during the recession into profit, afterall.


TLDR; just take it as a reference.

[alexeft]

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/

Buffett has stated that he never understood technological companies and he never took part in them.
What's different now that he would make such a statement, and we would take him seriously!!!

I guess Microsoft has always been a bad investment since Buffet is technology averse!!! LOL!  

[vabtc]

Honey Badger clearly doesn't give a damn.

[proudhon]

Warren Buffet - The New Proudhon

[traderCJ]

Anyone who follows Buffet knows that he doesn't invest in something he doesn't completely understand.  He won't take anyone's word for it.  Also, he is technologically retarded (sorry Warren).  The man reportedly doesn't write emails or carry a cell phone.  Suffice it to say that he's a master of some things, novice of others.  Cryptocurrency is one of those things he simply can not understand.  His buddy Bill Gates is more positive on cryptocurrency.

[anu]

His buddy Bill Gates is more positive on cryptocurrency.

If that isn't a contraindicator, I don't know what is.

640K ought to be enough for anyone.
(William H Gates III, 1985)

[C10H15N]

The man reportedly doesn't write emails or carry a cell phone...

There is something to be said for not being one of the herd.   

[igorr]

The situation is logic and clear,
Here we have three teams:

1.teams for production bitcoin
2.team for sales Bitcoin and manipulation with price
3.team for speculation and propaganda

all work together and share profits,
When mining be impossibile difficulty about 10 bilion, teams for production bitcoin will stop mining and game iz over, and currency exchange can disappear just like Mtgox
Current difficulty is 3.8 bilion !!!

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