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

[bitcoinmining]

He simply doesn't care about the technology, he cares about just money. Nothing important to read here  

[1715094161]

1715094161

[1715094161]

1715094161

[1715094161]

1715094161

[tarmi]

Warren gets it.

His analogy with checks is dead on.

[Wandererfromthenorth]

He simply doesn't care about the technology, he just cares about money. Nothing important to read here  

You're right. Unlike Buffet, bitcoiners are actually trying really hard to save the world. That's their primary goal. Money is not even that important.

[ElectricMucus]

He simply doesn't care about the technology, he just cares about money. Nothing important to read here 

You're right. Unlike Buffet, bitcoiners are actually trying really hard to save the world. That's their primary goal. Money is not even that important.

That's a common theme with cults. I would say about everyone is trying to save the world in their own way.

[Arv1e]

Buffet believes that BTC is another way to transmit money, just like a cheque.

On this fact alone he is showing a lack of understanding and total ignorance.

BTC is a way to "Transfer" money and one of its USP's is that it bypasses the financial network (banks) unlike a cheque which is a promise by the bank! not the person who owns the money in the system.

I would suggest he is of the opinion that the financial players and regulation will not allow a modern disruptive financial technology to succeed and compromise the Old school status quo.

The smart bankers will not be fearfull but work out how to take advantage of BTC and gain an edge on its competition.

[Mobius]

From reading the reports, it doesn't sound like he has grasped the concept of Bitcoin.

[SaltySpitoon]

Warren Buffet is a smart guy, some that understand Bitcoin and its potential may think the fact that he doesn't invest in BTC as stupid, but he actually has the right idea. Don't invest in what you don't know. Hes not a tech guy, so he doesn't invest in tech. Will that bite him in the ass and will he feel regret for not buying? No, the guy is loaded and he will find other traditional investment mediums to make money in.

Frankly speaking, Bitcoin is not a safe investment. Don't get me wrong, I love Bitcoin, and I advocate its benefits to anyone who wants to know, but at this point in the game, if you don't understand Bitcoin, don't buy it. Your chances of losing money in the volatile market is nothing compared to your chances of having your investments scammed or hacked away from you. Until Bitcoin is as idiotproof as credit card transactions, ie there is a button you can click to completely secure your coins, investing in Bitcoins is not the right idea for people who don't have the aptitude to understand it.

Warren Buffet speaks for the majority of the population, the people who invest in their ROTH IRAs, maybe have a stock broker at some fiat financial giant. Buffet missed the .com bubble, and he still seems pretty ok with himself, if BTC hits $10k each in X years, by then he will have doubled his money in oil/metals/etc and be just peachy about his hundreds of billions of dollars.

[Armis]

Warren Buffet is a smart guy, some that understand Bitcoin and its potential may think the fact that he doesn't invest in BTC as stupid, but he actually has the right idea. Don't invest in what you don't know. Hes not a tech guy, so he doesn't invest in tech. Will that bite him in the ass and will he feel regret for not buying? No, the guy is loaded and he will find other traditional investment mediums to make money in.

He's got lots of IBM, article indicated that he bought more too.

Why IBM Is One of the Biggest Warren Buffett Stocks "Berkshire owned 8.3% of Big Blue, making it the third-largest holding in Buffett's portfolio."
http://www.fool.com/investing/general/2014/11/28/why-ibm-is-one-of-the-biggest-warren-buffett-stock.aspx

Frankly speaking, Bitcoin is not a safe investment. Don't get me wrong, I love Bitcoin, and I advocate its benefits to anyone who wants to know, but at this point in the game, if you don't understand Bitcoin, don't buy it. Your chances of losing money in the volatile market is nothing compared to your chances of having your investments scammed or hacked away from you. Until Bitcoin is as idiotproof as credit card transactions, ie there is a button you can click to completely secure your coins, investing in Bitcoins is not the right idea for people who don't have the aptitude to understand it.

Absolutely.

[cbeast]

Young people shouldn't be concerned with the old people that put your nation deep in debt. You make your own future.

[michaeladair]

He's gonna die someday soon of a heart attack... Only the supid people without money to spend will listen to a dead man. Therefore, bitcoin has no fear of Warren Buffet, me is a mirage... A simple mirage.

[alesx.onfire]

The end of btc and LTC? 
in the meantime, i buy more 

[alesx.onfire]

check the LTC/YUAN market :

[SaltySpitoon]

Warren Buffet is a smart guy, some that understand Bitcoin and its potential may think the fact that he doesn't invest in BTC as stupid, but he actually has the right idea. Don't invest in what you don't know. Hes not a tech guy, so he doesn't invest in tech. Will that bite him in the ass and will he feel regret for not buying? No, the guy is loaded and he will find other traditional investment mediums to make money in.

He's got lots of IBM, article indicated that he bought more too.

Why IBM Is One of the Biggest Warren Buffett Stocks "Berkshire owned 8.3% of Big Blue, making it the third-largest holding in Buffett's portfolio."
http://www.fool.com/investing/general/2014/11/28/why-ibm-is-one-of-the-biggest-warren-buffett-stock.aspx

Frankly speaking, Bitcoin is not a safe investment. Don't get me wrong, I love Bitcoin, and I advocate its benefits to anyone who wants to know, but at this point in the game, if you don't understand Bitcoin, don't buy it. Your chances of losing money in the volatile market is nothing compared to your chances of having your investments scammed or hacked away from you. Until Bitcoin is as idiotproof as credit card transactions, ie there is a button you can click to completely secure your coins, investing in Bitcoins is not the right idea for people who don't have the aptitude to understand it.

Absolutely.

Right Buffet owns IBM, however that is the exception and sort of an intermediary to investing in Tech. Buffet is investing because IBM has a proven track record of making a profit through their products in services. He isn't investing in what IBM does, he is investing in the well managed company structure that he understands. Does he understand what it is IBM is making? Probably to a small extent. Does he explicitly know their company structure and understand why it is that they keep making him money? Yessir.

My point being, the fact that warren buffet doesn't recommend investing in Bitcoin doesn't change anything. The traditional investors that listen to him weren't going to invest in BTC anyway, and frankly, I'm glad they aren't. Bitcoin doesn't need the publicity that Warren Buffet sunk $100M into BTC, only to be hacked 10 minutes later and anonymously robbed. He is going to make his money, and with any luck those of us in BTC now will make our money sooner or later.

[sandykho47]

Usual word from someone who doesn't know bitcoin well
Let's see what will he do when bitcoin price rising up 

And looks like he look bitcoin as investment, not as currency

[EternalWingsofGod]

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?

Moderately, however that will change in the long run as more people become aware of other functions bitcoin can address and see it as more than a system to transfer and transmit money.

[wadili89]

With all respect, I dont think he is qualified to understand this field. Its a new technology and works differently than what he is used to.
I would like to see him say he was wrong in a few years.

[saddampbuh]

he'll be dead before he's proved wrong

[oblivi]

Buffet was trashtalking gold and gold went from $200 to $1900 during its bull run.

Warren Buffet is great and has done sick deals in the past, his specialty is holding long term so this time he is really really missing the point and needs to get some perspective.

[r0ach]

This should be a forum sticky:

"Among the holdings that Buffett increased were his stakes in credit card giants Visa and Mastercard, as well as IBM."

Read more: http://www.businessinsider.com/berkshire-hathaway-13f-filing-november-14-2014-11#ixzz3NIzuC5XR

He's a statist that requires Bitcoin to fail for his investments to succeed.

[hungergamespro132]

This should be a forum sticky:

"Among the holdings that Buffett increased were his stakes in credit card giants Visa and Mastercard, as well as IBM."

Read more: http://www.businessinsider.com/berkshire-hathaway-13f-filing-november-14-2014-11#ixzz3NIzuC5XR

He's a statist that requires Bitcoin to fail for his investments to succeed.

ooh thats why hes saying that bitcoin will crash otherwise he wont have any profit ftom those now i get it