URGENT NEWS - Warren Buffet declares Bitcoin as a BAD INVESTMENT

[cosmofly]

On the buffet news I'm buying auroracoin already made 400% while peasants buy bitcoin

Gonna dump aurora at 900% return

[Ultros]

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 !!!

I'm a part of team 1 and I wont stop mining at 10 bilion if ever.

[Miracle_Life]

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...

m/id/22130601]http://www.c[Suspicious link removed]m/id/22130601

Looks about right good find.

[cosmofly]

Warren Buffet - The New Proudhon

Awesome, glad to know Proudhon is now on my side that bitcoin is a bad investment

[Bit_Happy]

I was a bit concerned at first, but this post should clear things up.

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

[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 !!!

I'm a part of team 1 and I wont stop mining at 10 bilion if ever.

Mining will not be profitable in difficulties 10 bilion !!!

[boumalo]

Meanwhile bitcoin increase its value to 620.

Yes it is truly a bad investment, it makes traditional investments look like fail

bitcoin going up to 645$ tonight, thank you Warren Buffet I guess

Buffet says in the interview : "...you’ll be much better off owning productive assets over the next 50 years than you will be holding pieces of paper or, I’m not sure, bitcoins,”

I am not sure he knows that there will only be 21million bitcoins produced

[InCoinsITrust]

What that dino said ? He just want cheap coins, old bastard

[cosmofly]

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!  

Buffet never said Microsoft is was a bad investment. But he just did say Bitcoin is a piece of shit. Big diff

[igorr]

Meanwhile bitcoin increase its value to 620.

Yes it is truly a bad investment, it makes traditional investments look like fail

bitcoin going up to 645$ tonight, thank you Warren Buffet I guess

Buffet says in the interview : "...you’ll be much better off owning productive assets over the next 50 years than you will be holding pieces of paper or, I’m not sure, bitcoins,”

I am not sure he knows that there will only be 21million bitcoins produced

the projected time for 21 million Bitcoin is about 140 years. so......

[traderCJ]

Don't try to read between the lines here.  He doesn't understand Bitcoin beyond it being used by some as a method of exchange and store of value.  To him, it's like gold - a modern day incarnation of what his buddy Munger calls a "barbarian metal".  Buffett will always, always, always advise people to invest in businesses.  His take on it is this: gold doesn't DO anything, bitcoin doesn't DO anything, etc.  It's nothing against cryptocurrency itself, he just thinks there are better investments.

[igorr]

You just turn the brain and the solution will just come

[ElectricMucus]

Something good can come out of this, you idiots gonna stop citing that stupid quote.

[orpington]

Buffet's key phrase is  "or, I’m not sure" .

[smoothie]

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/

OP is an idiot. No one is always right.

[log2exp]

Warren is too old to do any math homework. That's why.

[OgNasty]

Warren Buffett commenting on something he doesn't understand is unusual.  He usually keeps his mouth shut regarding technology investments.  He cares about 1 thing, making himself money.  Him commenting on Bitcoin means that he believes it has the potential to effect his ability to draw in new investment and it probably scares the shit out of him.  Enough for him to step outside his box and make a comment.


EDIT: Buffett actually holds a huge position with Wells Fargo, who is one of the banks trying to get ahead of the Bitcoin movement.  Unusual for him to make this statement while a company that he owns billions of dollars worth of shares is pro-BTC.  It is contradictory to the point where it screams manipulation.

http://www.finextra.com/news/fullstory.aspx?NewsItemID=25652


EDIT 2: Buffett actually just boosted his ownership in Wells Fargo as well.  Seems to me that his words say avoid Bitcoin, while his money screams BUY ME SOME BITCOINS!

http://www.bizjournals.com/charlotte/blog/morning-edition/2014/02/warren-buffett-boosts-stake-in-wells-fargo-again.html?page=all


FINAL EDIT: Buffett is famous for saying to be greedy when others are fearful.  His actions show that he is not only afraid of Bitcoin, but is buying on his fear.  I can't think of a more bullish sign.

[rebel24]

Warren Buffett commenting on something he doesn't understand is unusual.  He usually keeps his mouth shut regarding technology investments.  He cares about 1 thing, making himself money.  Him commenting on Bitcoin means that he believes it has the potential to effect his ability to draw in new investment and it probably scares the shit out of him.  Enough for him to step outside his box and make a comment.


EDIT: Buffett actually holds a huge position with Wells Fargo, who is one of the banks trying to get ahead of the Bitcoin movement.  Unusual for him to make this statement while a company that he owns billions of dollars worth of shares is pro-BTC.  It is contradictory to the point where it screams manipulation.

http://www.finextra.com/news/fullstory.aspx?NewsItemID=25652


EDIT 2: Buffett actually just boosted his ownership in Wells Fargo as well.  Seems to me that his words say avoid Bitcoin, while his money screams BUY ME SOME BITCOINS!

http://www.bizjournals.com/charlotte/blog/morning-edition/2014/02/warren-buffett-boosts-stake-in-wells-fargo-again.html?page=all


FINAL EDIT: Buffett is famous for saying to be greedy when others are fearful.  His actions show that he is not only afraid of Bitcoin, but is buying on his fear.  I can't think of a more bullish sign.

awesome comment, you are spot on.

Also I might add, warren buffets investments haven't been performing at any extremely great levels recently. I feel like hes riding the broader wave of index-type return on investments.

Thats not how he made his wealth though- he made his wealth by investing in things like bitcoin(massive return potential), its really quite sad that he doesnt understand the potential. I'm sure he will one day, hopefully soon.

[spin]

Warren Buffett commenting on something he doesn't understand is unusual.  He usually keeps his mouth shut regarding technology investments.  He cares about 1 thing, making himself money.  Him commenting on Bitcoin means that he believes it has the potential to effect his ability to draw in new investment and it probably scares the shit out of him.  Enough for him to step outside his box and make a comment.


EDIT: Buffett actually holds a huge position with Wells Fargo, who is one of the banks trying to get ahead of the Bitcoin movement.  Unusual for him to make this statement while a company that he owns billions of dollars worth of shares is pro-BTC.  It is contradictory to the point where it screams manipulation.

http://www.finextra.com/news/fullstory.aspx?NewsItemID=25652


EDIT 2: Buffett actually just boosted his ownership in Wells Fargo as well.  Seems to me that his words say avoid Bitcoin, while his money screams BUY ME SOME BITCOINS!

http://www.bizjournals.com/charlotte/blog/morning-edition/2014/02/warren-buffett-boosts-stake-in-wells-fargo-again.html?page=all


FINAL EDIT: Buffett is famous for saying to be greedy when others are fearful.  His actions show that he is not only afraid of Bitcoin, but is buying on his fear.  I can't think of a more bullish sign.

Bitcoin must be such a small idea inside Wells Fargo I'm sure Buffet wouldn't know about it.  He has over 330 000 employees.  He lets his businesses get on with it.  You can't read anything into this about his opinions.  He has said before he doesn't invest in currencies (USD/EUR/etc) but in businesses (he understands).

[smoothie]

"URGENT NEWS" translation: So an old guy says Bitcoin is a bad investment.

Looks like this old man didn't look at the price history for Bitcoin for the past 4 years.