Warren Buffett & "Rat Poison"

[oHnK]

Humans have their own perspective, and that mindset is what makes each human being unique.  Like Warren Buffet, he has a clear background in financial assets, especially in stocks.  He is an investor who is guided by the fundamentals of financial assets.  And that's fine.  Whatever it says at this point about Bitcoin, it will not change whatever the future holds.  For example, in 2011 he said he did not like gold because it was considered an unproductive and lazy investment.  But later in 2020, he bought gold which was said to be a non-productive asset.  Until the movement is considered a signal of the stock market crash.  What's the difference now with Bitcoin, I still believe that in the future Warren will change his mindset towards Bitcoin and become the next Bitcoin triumph.

[sana54210]

The speculators and investors seems to be at odds all the time they shouldn't be, they need each other.  Without speculators there would be nothing to invest in, and without investors there wouldn't be money to speculate.

The logic of "will it change the way I chew gum" is obviously a metaphor. As in, will this new invention change the world and become the standard, or will it be a unique hobbiest item. Everybody knew that computers were a great thing even on the very very earliest days of it, however people didn't jumped into the ship right away and having a global computer world took some time obviously, if we were smarter we would have created a computer for every single person in a year and given that out and see what type of marvelous achievements everybody would had with them, it would return with a profit instead of a loss with that much cost at hand.

So the reason why we didn't was the fact that everyone assumed it would be a hobbiest item, like someone who is an engineer of sorts would have used it, and nobody else, but we all know that is not true right now. Buffet was talking about the differences there, he picked the wrong side but I get it.

[Silberman]

Honestly at 90 years old, what do you expect from him? Dude was born in 1930, by comparison the world war 2 happened when he was a teenager, at 15 years old, nearly old enough to join it himself as well. Dude grew up in one of the worse periods of humanity, his father was a very rich man with a lot of money to spare, he started his career with 100k from his family to start investing and never had a troubled life ever, dude even drinks coca cola everyday and eats candy and french fries and still managed to live until 90, so we can safely assume he is one of the luckiest people in the world ever in history.

This doesn't discredit the fact that he is probably the greatest investor ever, rarely ever lost money and always had a sustained profit for decades, but when you are that good and everything goes great, why even try to learn about new things like bitcoin when you are 90?

Without a doubt his experiences have shaped who he is and especially his philosophy when it comes to trading and investing and when you take into account the world in which he was born then it is very understandable why he doesn't get the concept of bitcoin, but that is not the problem that we have with him, the problem is that he openly claims that he doesn't understand bitcoin and yet he is bold enough to call it rat poison and the question is how he can say that when he claims he does not understand bitcoin?

[AndySt]

Honestly at 90 years old, what do you expect from him? Dude was born in 1930, by comparison the world war 2 happened when he was a teenager, at 15 years old, nearly old enough to join it himself as well. Dude grew up in one of the worse periods of humanity, his father was a very rich man with a lot of money to spare, he started his career with 100k from his family to start investing and never had a troubled life ever, dude even drinks coca cola everyday and eats candy and french fries and still managed to live until 90, so we can safely assume he is one of the luckiest people in the world ever in history.
This doesn't discredit the fact that he is probably the greatest investor ever, rarely ever lost money and always had a sustained profit for decades, but when you are that good and everything goes great, why even try to learn about new things like bitcoin when you are 90?

Without a doubt his experiences have shaped who he is and especially his philosophy when it comes to trading and investing and when you take into account the world in which he was born then it is very understandable why he doesn't get the concept of bitcoin, but that is not the problem that we have with him, the problem is that he openly claims that he doesn't understand bitcoin and yet he is bold enough to call it rat poison and the question is how he can say that when he claims he does not understand bitcoin?

You can still try to interpret his words as like " if this is beyond my understanding, then I strongly do not recommend contacting it" And his "I don't understand" is akin in meaning to the words "I don't want to understand". Indeed, what can we say about a 90-year-old person, when people much younger than him in age express such thoughts. Here it is already worth talking about the rejection of bitcoin itself as a concept by such people.

[Wawa2013]

Everyone can change, that's what I believe until now. So it is also with Warren Buffett who always says negative things about Bitcoin. I believe it
will take different for everyone to admit that Bitcoin is a great and profitable asset. In my opinion, don't think too much of what Warren Buffett said
about Bitcoin, let him realize himself. Because Warren Buffett's bad words about Bitcoin have been proven, it doesn't stop people buying Bitcoin.
Even this year the demand for Bitcoin is very high and many institutions are buying Bitcoin too. So leave Warren Buffett with his own world.  

[cr1776]

Buffett is right about bitcoin being rat poison which is why rats like him don't like it. It is indeed poison to statists and authoritarians who think they have a right to the products of everyone else's lives merely because they hold the guns.

It is the age old fight between freedom and collectivism. The fight to decide whether to go up towards liberty or down to the ant heap of socialism, fascism or communism.

[Sithara007]

Buffett is right about bitcoin being rat poison which is why rats like him don't like it. It is indeed poison to statists and authoritarians who think they have a right to the products of everyone else's lives merely because they hold the guns.

It is the age old fight between freedom and collectivism. The fight to decide whether to go up towards liberty or down to the ant heap of socialism, fascism or communism.

LOL.. you are right. He is just pissed off and jealous. At this old age, he can't understand how people became rich after just 2-3 years of investment in Bitcoin, when he himself needed several decades of hard work to become one. He is still not ready to admit that there are smarter investors than him. And this is not the first time that he is badmouthing Bitcoin. He has been doing this on a continuous basis for the past many years. We should just ignore this demented old fool rather than giving him more publicity than he deserves.

[Kong Hey Pakboy]

Buffett is right about bitcoin being rat poison which is why rats like him don't like it. It is indeed poison to statists and authoritarians who think they have a right to the products of everyone else's lives merely because they hold the guns.

It is the age old fight between freedom and collectivism. The fight to decide whether to go up towards liberty or down to the ant heap of socialism, fascism or communism.

Capitalist don't like fascism or communism though, they have limits in fascist nations and they can flourish in a communist setting. You are right that it is a rat poison but I dont think that the rats that you are talking about are loving this poison slowly with some of them pouring money in.

[Anonylz]

...or maybe when he relinquishes his CEO title and hands over control
to his successor he along with the next generation might be a bit
warmer towards Bitcoin.

That is most certainly a possibility,  I think the younger generation that will be his successor will have a lighter approach towards btc than Buffet, he is an old timer and believe in investment that have physical appearance or stand, btc is digital and can't be grasp physically, this is something that Buffet find confusing and can't accept,  I really can't blame him though,  not everyone from his generation gets btc and crypto in general but some just decide to go along with this magnificent technology regardless,
Lol, describing btc as a 'Rat Poison'  is so hilarious  

[bryant.coleman]

That is most certainly a possibility,  I think the younger generation that will be his successor will have a lighter approach towards btc than Buffet, he is an old timer and believe in investment that have physical appearance or stand, btc is digital and can't be grasp physically, this is something that Buffet find confusing and can't accept,  I really can't blame him though,  not everyone from his generation gets btc and crypto in general but some just decide to go along with this magnificent technology regardless,
Lol, describing btc as a 'Rat Poison'  is so hilarious  

He's just jealous that others are becoming rich. It took a long time for him to become a billionaire. He spent his entire life working hard, wasting his youth. Now in front of his eyes, he is witnessing youngsters in their 20s and 30s who have become millionaires from their investment in cryptocurrency and these people are enjoying their life (unlike Buffet). And it is natural for these 90 plus people to feel jealous about the younger Bitcoiners. Also, wealth is sometimes measured in a relative sense. If there are a lot of wealthy people, then the importance of wealth goes down. Buffet definitely doesn't want that.

[wahyu wida]

...or maybe when he relinquishes his CEO title and hands over control
to his successor he along with the next generation might be a bit
warmer towards Bitcoin.

That is most certainly a possibility,  I think the younger generation that will be his successor will have a lighter approach towards btc than Buffet, he is an old timer and believe in investment that have physical appearance or stand, btc is digital and can't be grasp physically, this is something that Buffet find confusing and can't accept,  I really can't blame him though,  not everyone from his generation gets btc and crypto in general but some just decide to go along with this magnificent technology regardless,
Lol, describing btc as a 'Rat Poison'  is so hilarious  

right, everyone certainly has their own time, maybe he came to the conventional generation so it's still a little difficult to understand the digitalization era, although I think Buffett certainly has people close to him who are experts in the field of digitization, but the decision is still on the personal buffet. and we can't blame it, maybe later we will too

[dezoel]

I guess I get it. Do you know how he decides to buy which stock he wants to invest? Dude checks the sheet and sees how much it should worth, what the stock price should be and if it is under that price he buys, if it is over he doesn't buy. It means he buys companies that he sees future in, coca cola, gilette, geico all companies that would make him a lot of money in the long term because their sheet looked great when he purchased.

This is why it makes sense that he doesn't invest into crypto, it would be weird if he started to invest into crypto these days, because that would be for the first time ever he invests into something that doesn't produce a "profit", that is the thing that he likes, he likes to buy something and make a profit, if this doesn't make a profit then what is the point of it really? Have you heard of him buy gold? I do not think he even invests in gold, how could he understand bitcoin.

[Sithara007]

Warren Buffet is 90 years old, and his net wealth stands at $96 billion. On the other hand, Elon Musk is 49 and his net wealth is $151 billion. So who will be your role model? A walking fossil with outdated ideas, or someone who favors new innovations? Warren Buffet hasn't done anything out of the ordinary for the last two decades and he is completely out of touch with the current market conditions. His wealth has increased only because of the general increase in the stock indices.