[2014-08-26] Why Warren Buffet and Peter Schiff are Wrong on Bitcoin

[epere]

http://www.cryptocoinsnews.com/news/why-warren-buffet-peter-schiff-wrong-bitcoin/2014/08/25

Although Warren Buffet and Peter Schiff are called out by name in the title of this article, this piece is really aimed at anyone who claims there is no fundamental value to a bitcoin. These two popular investors disagree on gold and many aspects of the economy, but the one thing they do agree on is the statement that bitcoins have no real value.

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1715109931

[LiteCoinGuy]

there is no value in a worldwide, free and borderless, instant, global payment system? okay...  !

[gmx95]

The World is changing, even such famous investors may be wrong on the subject. They are used to dealing in tangible commodities. Can't blame them for not getting into bitcoin.

[Grinder]

there is no value in a worldwide, free and borderless, instant, global payment system? okay...  !

Most of the alt coins provide the same thing, which means their fundamental value is the same as that of Bitcoin. The problem isn't Buffett's claim, it's that a lot of the Bitcoin advocates don't understand what the expression fundamental value means.

[Chef Ramsay]

I really used to value the masterful opinion of Peter before I encountered Bitcoin and now don't really care what he has to say nor plan on investing any money in his EuroPac.

[Wekkel]

I really used to value the masterful opinion of Peter before I encountered Bitcoin and now don't really care what he has to say nor plan on investing any money in his EuroPac.

I would say that you are limiting yourself then. Nobody said gurus are always right. Read and think for yourself.