URGENT NEWS - Warren Buffet declares Bitcoin as a BAD INVESTMENT

[pbody]

edit: i saw him at the grocery store a couple years ago trying to use the self checkout lane to buy some coke and other shit, and he couldn't figure out how the barcode scanner worked, people tried to help him out but he got pissed off, mumbled some derogatives about kids and computers, threw a tantrum and left.

funny story.

I can understand why Buffet would think btc is a bad investment. Is he not heavily invested in B of A?

Also, honestly, things are not looking good right now. I believe its going to take a serious set of home runs for bitcoin to gain confidence amongst big investors.

[genco]

I love bitcoin, but I also admit that it has no long term future and it's basically rich nerds trading pogs...that said, I will HODL because some smart guy once said: be nice to nerds, one day they'll be your boss / run the world (can't remember). I'm not saying by bitcoiners are nerds, just that I don't see a value proposition that can't be defeated...but I'm also not divesting

[keithers]

Warren Buffet is undoubtedly an investment guru, but that does not mean that he is ALWAYS right.  We all hear about his miraculous investments and strategies that have capitalized when the market has been down, but that doesn't mean that he has been right every time.   I am confident that he is wrong here.  Knowing him, he is probably saying this about bitcoin publicly, and then buying it privately.

[LostDutchman]

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/

Sorry but I call shenanigans on your "confirmation".

 Buffet expressed an opinion and an opinion only, which doesn't confirm a damned thing.

And you "theory" is not a theory but rather an hypothesis from which you might develop a theory had you any foundation for it.

My $.02.



oh wait

Buffet has NOT been right all the time:

http://www.businessinsider.com/warren-buffett-admits-to-5-big-mistakes-2012-2

Have a nice day now, ya hear?

[darkmule]

As much as I respect Warren Buffett (not "buffet" which is a serve-yourself meal rather than an investor), Bitcoin simply doesn't fit into his model of investment.  His comments also do not reflect having thought much about Bitcoin, but are simply off the cuff comments.  I'd actually welcome more well thought-out comments from Warren Buffett, but these didn't qualify.

[LostDutchman]

As much as I respect Warren Buffett (not "buffet" which is a serve-yourself meal rather than an investor), Bitcoin simply doesn't fit into his model of investment.  His comments also do not reflect having thought much about Bitcoin, but are simply off the cuff comments.  I'd actually welcome more well thought-out comments from Warren Buffett, but these didn't qualify.

Exactly and thank you for your insightful and accurate post.

My $.02.

[cosmofly]

As much as I respect Warren Buffett (not "buffet" which is a serve-yourself meal rather than an investor), Bitcoin simply doesn't fit into his model of investment.  His comments also do not reflect having thought much about Bitcoin, but are simply off the cuff comments.  I'd actually welcome more well thought-out comments from Warren Buffett, but these didn't qualify.

Exactly and thank you for your insightful and accurate post.

My $.02.

i deleted my earlier question as i didnt want to sound rude although it was not meant to be

[tss]

greedy bastards you all are.. i dont want 500% or 300% or even 100% gains.  all i want is MORE COIN. i'm not an early adopter so i dont expect 1^32984731209847231098472390187419028374 return.. fuck off

[darkmule]

greedy bastards you all are.. i dont want 500% or 300% or even 100% gains.  all i want is MORE COIN. i'm not an early adopter so i dont expect 1^32984731209847231098472390187419028374 return.. fuck off

Umm. . .you realize 1 to any real number power is 1, right?

[cosmofly]

greedy bastards you all are.. i dont want 500% or 300% or even 100% gains.  all i want is MORE COIN. i'm not an early adopter so i dont expect 1^32984731209847231098472390187419028374 return.. fuck off

Failed

[aminorex]

Buffett is overexposed to the dollar.  If he understood crypto, he'd be buying it.  But it's hopeless, at his age.  Best to do what he knows and is good at:  Picking hirelings who can manage well, "big picture" thinking, schmoozing and PR, LBOs.

[Mythul]

To be honest I don't give a shit what Buffett says! I make my own decisions.

[darkmule]

To be honest I don't give a shit what Buffet says! I make my own decisions.

Who is this Buffet guy?  There's an investor named Warren Buffett, and then there's this Buffet guy, who is a sort of smorgasbord dinner where you serve yourself.

Don't criticize a guy whose name you can't even spell.

[MrPiggles]

To be honest I don't give a shit what Buffet says! I make my own decisions.

Who is this Buffet guy?  There's an investor named Warren Buffett, and then there's this Buffet guy, who is a sort of smorgasbord dinner where you serve yourself.

Don't criticize a guy whose name you can't even spell.

He's the brother of Phoebe off Friends

[tss]

yes.. thank you.  i was hoping to trol but you didnt let me :-)

greedy bastards you all are.. i dont want 500% or 300% or even 100% gains.  all i want is MORE COIN. i'm not an early adopter so i dont expect 1^32984731209847231098472390187419028374 return.. fuck off

Umm. . .you realize 1 to any real number power is 1, right?

[Asrael999]

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/

Warren Buffett has an enviable track record as a real economy investor - he has a preference for companies with tangible assets and solid cashflows which make real things for which there is a more or less constant demand.
He is not right ALL THE TIME, just more often than most - and he plays with big numbers.

He has just admitted to losing $879 million on investments in bonds of Energy Future Holdings Corp (which he bought USD 2bn of)
He lost several billion buying stock of ConocoPhillips at almost exactly the wrong time in 2007
and in 1993 he lost $3.5bn buying stock in a company called Dexter Shoes - he is said to regard this as the worst investment decision he ever made.

[tss]

NO YOU FAILED.. as someone called it out first and you merely agreed with emphasis.. sorry for long response im a noob so it takes me 1001011000 seconds to reply

greedy bastards you all are.. i dont want 500% or 300% or even 100% gains.  all i want is MORE COIN. i'm not an early adopter so i dont expect 1^32984731209847231098472390187419028374 return.. fuck off

Failed

[spin]

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/

Warren Buffett has an enviable track record as a real economy investor - he has a preference for companies with tangible assets and solid cashflows which make real things for which there is a more or less constant demand.
He is not right ALL THE TIME, just more often than most - and he plays with big numbers.

He has just admitted to losing $879 million on investments in bonds of Energy Future Holdings Corp (which he bought USD 2bn of)
He lost several billion buying stock of ConocoPhillips at almost exactly the wrong time in 2007
and in 1993 he lost $3.5bn buying stock in a company called Dexter Shoes - he is said to regard this as the worst investment decision he ever made.

I agree:
- He invests in going concerns.  Not currencies.
- He does make mistakes (and by implication could be wrong about bitcoin).

[MrPiggles]

I'd be more interested in George Soros's opinion

[tss]

buffet invests in stats not feelings.. everyone here is.. one of... greedy day trader, has a feeling this is the new global standard or is a big time drug dealer, or new prophet visitor.. which one are you?

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/

Warren Buffett has an enviable track record as a real economy investor - he has a preference for companies with tangible assets and solid cashflows which make real things for which there is a more or less constant demand.
He is not right ALL THE TIME, just more often than most - and he plays with big numbers.

He has just admitted to losing $879 million on investments in bonds of Energy Future Holdings Corp (which he bought USD 2bn of)
He lost several billion buying stock of ConocoPhillips at almost exactly the wrong time in 2007
and in 1993 he lost $3.5bn buying stock in a company called Dexter Shoes - he is said to regard this as the worst investment decision he ever made.

I agree:
- He invests in going concerns.  Not currencies.
- He does make mistakes (and by implication could be wrong about bitcoin).