Warren Buffet advise not to buy bitcoin. Expect bitcoin price to collapse.

[Fatman3001]

This is a quote from an old article. It shouldn't affect price now. He hasn't been too kind about companies like Google in the past, and they are doing ok. Warren Buffett is a God among Men, but he isn't very tech-savvy, so maybe we can ignore his tech related advices. The one american who is nearly as rich as him and quite a bit more tech-savvy seems to have given the go-ahead for Microsoft to start accepting bitcoins. THAT matters!!!

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[Armis]

as soon as we clean up the crypto trash (scams, schemes, and foolishness) we will produce billionaires, trillionaires, and quads (quadriliionaries).

So essentially get rid of everything this community is made of.

Typically that's the way things grow, just after the 'new world' is discovered, often times bad guys get to rule freely in this new space until such time that they realize that in order to make this space worth having you've got to protect it (security), value it, own it, and have rules of ownership, and enjoyment.  

As long as things aren't safe investment will continue to go elsewhere.  2013 showed lots of promise for the cryptocurrency world, 2014 lost lots of those gain financially and more importantly in terms of hope.   All because of security issues.

Warren Buffet saying bitcoin is a scam:

http://www.businessinsider.com/warren-buffett-money-tips-for-2015-2014-12

How is this going to affect price?

Does Warren Buffet go in for surgery and tell the doctor where to make the incision? No.

He knows absolutely zero about Bitcoin. Wtf makes you think his opinion matters? Because he has money?

I know some fucking complete fucking retards worth a lot of money. People with excellent business sense...but that doesn't make them experts on everything, now does it?

People tend to give their respect to people solely because they have money. It's quite sad.

You, yes YOU, solely being a member of this forum, already know more about Bitcoin than Warren Buffet.
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You, yes YOU, solely being a member of this forum, already know more about Bitcoin than Warren Buffet.

100% agree

[Eddie Brock]

You, yes YOU, solely being a member of this forum, already know more about Bitcoin than Warren Buffet.

This is probably true. The permabulls of this forum know a lot more about Bitcoin than Buffett does.

But that doesn't mean that they're more reliable than he is when it comes to predicting the future of Bitcoin.




For example: Late 1990's, dotcom bubble. I guarantee you that the people that started those .com companies knew a lot more about them than Buffett did. Yet, he predicted the future of those companies much better than their founders did, because he knew where to look, he knew what's important.

Those companies didn't have earnings, and therefore they were bad investments regardless of how much the people that created them screamed "this is the future, you idiot dinosaur!!!!"

He looks at the basic facts about btc and that's all he needs to know.

[JimboToronto]

So the shirt maker doesn't understand the disruptive technology.

This is news?

[cbeast]

Buffett is notorious for keeping his investments secret. A little FUD would not be unexpected regarding Bitcoin if he is secretly investing.

[Fatman3001]

Warren Buffett is a God among Men

No, no he's not.

I know millionaires more savvy than him.

You know the difference between millionaire and billionaire businessmen? One of the two was luckier than the other...not much else.

No, and no. He is not particularly lucky. He is very good at what he does. You might know more flamboyant millionaires but you don't know anyone who can beat him at his own game. How do I know? Investors have a scoreboard, and according to this scoreboard billionaires win over millionaires every time. I don't want to invoke the Rumsfeld speech about known knowns and known unknowns, but to skillfully and consistently combine a total control of what you know you understand and know you don't understand, with a clever investment strategy; has nothing to do with luck.

[AtheistAKASaneBrain]

Warren Buffet is a decrepid dinosaur. His time his over and Bitcoin will be the nail in his coffin.

[JimboToronto]

Warren Buffet is a decrepid dinosaur. His time his over and Bitcoin will be the nail in his coffin.

I wouldn't say his time is over. He's only 84 years old.

People still buy shirts. Maybe some time soon more people will be buying them with bitcoins.

He might end up making money from Bitcoin despite himself. He seems to have a knack for that.

[Febo]

Warren Buffet says he likes his money in fairly stable & certain investments, where major change and disruption are unlikely. It is not surprising he says steer clear of bitcoin. Unfortunately I think his advice will be quoted in a lot of upcoming articles that are critical of bitcoin and some people will take his advice. But imo this won't have any notable impact on price

Bad news now push price up so i expect that will happen.

[SquallLeonhart]

Warren Buffet saying bitcoin is a scam:

http://www.businessinsider.com/warren-buffett-money-tips-for-2015-2014-12

How is this going to affect price?

i think it will give bitcoin a boost
as one of the best investor is talking about something can't be a simple currency
some big player who don't know about bitcoin before will have a look into this and might be give it a try

[NotLambchop]

...
some big player who don't know about bitcoin before will have a look into this and might be give it a try chuckle.

FTFY

[Armis]

Warren Buffet saying bitcoin is a scam:

http://www.businessinsider.com/warren-buffett-money-tips-for-2015-2014-12

How is this going to affect price?

i think it will give bitcoin a boost
as one of the best investor is talking about something can't be a simple currency
some big player who don't know about bitcoin before will have a look into this and might be give it a try

At this point, BTC has no place on wall street.   The only time "big players" in the currency markets, commodities markets, any other markets may give BTC a look is during performance periods.   In fact, when BTC was doing relatively 'OK' (not good or well) btc got the eye of some wall street kids.  That was earlier this year, every since then BTC has lost lots and lots of ground.  There's nothing to consider until the cryptocurrency community show more faith in their own currency.

Its time to clean up the cryptocurrency industry, time to make this a safe place to invest -- that is how to get outsiders looking at btc with favor.

[ArticMine]

Eventually 1 XBT will be worth more than 1 share of BRK.A. The more interesting question is will this happen while Warren Buffet is still alive?

Current prices 1 XBT 327.18 USD; 1 BRK.A 227,100.00 USD; Warren Buffet age 84; Life expectancy 84 year old male US 6.5 years http://www.ssa.gov/planners/lifeexpectancy.htm

[Armis]

In fact, when BTC was doing relatively 'OK' (not good or well) btc got the eye of some wall street kids.  That was earlier this year, ever since then BTC has lost lots and lots of ground.

..and by "ground" you only mean price?

When the price was $1,100, Bitcoin had a lot less infrastructure than it does now.

There is more to the Bitcoin economy other than price. When are you people going to quit with this one-dimensional thinking?

"One-dimensional thinking"?  Me?     hahahaa you have got to be kidding.  

Firstly, what I meant by 'ground' was price, regard, respect, interest, value, market share, etc ... the whole package, as a package.  

Second, the price is the leading indicator of community interest, the leading indicator of currency intergration/assimilation,  and the leading indicator of overall relevance.

Price is telling the only story that needs to be heard at this point.  If the price was substantially higher prudent investors would look at other factors as part of their due diligence in considering it for investment.  

Third, you can have all of the infrastructure in the world but if your product is unsafe it's not worthy of investment at any price,  

If you want to pin me to a single dimension about btc it's not price, it's SECURITY.   With proper security BTC skyrockets in price, regard, respect, and meaningful value.

[johnyj]

FED saved Buffet

[Fatman3001]

Here is another reason why Buffett might not have any interest in Bitcoin succeeding: He has an interest in it not succeeding.

http://www.businessinsider.com/berkshire-hathaway-13f-filing-november-14-2014-11

[smoothie]

Warren buffet will have a nasty wake up call when it comes to Bitcoin succeeding.

[riiiiising]

So the shirt maker doesn't understand the disruptive technology.

This is news?

It doesn't seem that bitcoin has been disrupting anything over the past 6 years other than the 'get rich quick' dreams of naive investors.

[NotLambchop]

Warren buffet will have a nasty wake up call when it comes to Bitcoin succeeding.

He's worth over 60 billion dollars.  I'm sure his secretary's secretary would take that call, laugh, and hang up.
*He also missed out on BTCeanie BTCabies, btw.  He's holding up well, considering...

[Wandererfromthenorth]

How come so many people "don't understand bitcoin as a technology" (as bitcoiners like to say)? Are they all retards?

Bitcoin critics/skeptics/famous investors are all idiots who don't understand how something works while r/bitcoin enthusiasts on reddit are all geniuses and rocket scientists?

Seems legit.