[2019-05-05] Warren Buffett Calls Bitcoin A Gambling Device

[Harlot]

Just to make things a little clear for members here before you judge and say Warren Buffett is a nocoiner. Buffett today announced that he won't be participating Uber's anticipated IPO as well as with other IPOs in the past with this news it says a lot on what Buffett's investment style is. Just like cryptocurrencies an IPO doesn't have any assurances on where will it go on the opening day Buffett himself doesn't know where Uber will land when the market will close. He is one of those guys that are not risk takers and wants assurances with their money which he won't really get to any crypto in the market.

[Lucius]

He couldn't care less about anyone's opinion here, and it's not that he's missing out on a life changing opportunity by ignoring Bitcoin. The only thing you can blame him for is speaking out against something he sees no value in.

This old fart could make a fortune if he invest in bitcoin back in 2013 / 2014, and I think this is an indisputable fact. Instead of that he urges people to stay away from bitcoin, calling this coin “a mirage”. His real problem is he does not see the value in bitcoin, and with his negative statements discourages many small and big investors to invest in bitcoin.

They consider him one of the most influential investor, and public follow him like a flock of sheep - so I blame him for talking about something he does not understand, and in doing so it does a great deal of damage for bitcoin.

[davidtld]

Well, of course the tecnology its not a gambling device. But the way the prices move in short term i think its kind of it. He is not completely wrong in that way. But of course he belong to another generation that its harder to understand new technologies.

[RodeoX]

He also was showing off his new "phono-telegraph machine" as he holds up a mobile phone.

Why do people think W.B. would understand bitcoin? 

It reminds me of BlockBuster video explaining why Netflix won't work.

[Vladdirescu87]

Isn't forex or stock trading a gambling device then?

[Lanatsa]

We know that Warren Buffett is super rich, he's a multi-billionaire and a philanthropist. But I do not believe everything he says is right. You guys, do you believe Bitcoin is a gambling device?!

If you've been here on this crypto world for how many years then treating this word came from these people is a must or i would say i already get used to it.
Attacking bitcoin from any angles but without even knowing these big fellas already accumulated bitcoin from behind which they do just spread out negativity for
possibility to shake up the market and creating price dumps on where these people do able to accumulate cheaper.No one knows.

[ruthbabe]

I thought he said it's a scam but now a gambling device? I bet in the future he'll change the term he use to treat bitcoin but in a positive note. Gambling device are casinos and bitcoin is a innovative tech so there is a huge difference. I'm very certain that he will say the same things if ever the internet was introduced today.

Yes, before he said it was a scam, and now he called it a "'gambling device' but sees promise in blockchain". I do not know what he really meant but I know when you said device it's something you could physically see, touch, hold or grasp by your bare hands. Bitcoin and/or any other crypto can't be because they're digital.

[shamc]

So I guess no one gambles with money, they use salt and bread to bet on the races. Bitcoin is a gamble, but it's a good one that is so far paying off really well