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

[Omikifuse]

Bitcoin is much more than it is price.

I though a big investor like him would be more concerned about making money wherever one can, not about being against something with no kind of restrictions.

[twiifm]

The arrogence of broke kids thinking they know more about investing than a multi billionaire.  LOL

Buffetts point is that there's no intrinsic value  in the aartificial scarcity because the code can be created ad infinitum.  Anyone can create a currency.  The hard part is to get others to accept it as money

that applies to every currency


for the most part fiat currency comes in two forms paper or metal, yet far more money is moved electronically than via paper or metal currency so clearly electronic currency is the big winner here. 

Many around the world pay big money to order international wires for the ability to move large sums of money from point 'a' to point 'b', where is the "scarcity" or "intrinsic value" in a wire transfer?

Cryptocurrency solves a real problem in the world of electronic money and electronic money transfers, once the system is safe it will produce many trillionaires and quadrillionaires --  well beyond Buffet bucks.   

You miss his point entirely.  So what if you can use bitcoin to transmit money digitally?  That in itself doesn't make it valuable.  

[Watoshi-Dimobuto]

The arrogence of broke kids thinking they know more about investing than a multi billionaire.  LOL

Buffetts point is that there's no intrinsic value  in the aartificial scarcity because the code can be created ad infinitum.  Anyone can create a currency.  The hard part is to get others to accept it as money

that applies to every currency


for the most part fiat currency comes in two forms paper or metal, yet far more money is moved electronically than via paper or metal currency so clearly electronic currency is the big winner here.  

Many around the world pay big money to order international wires for the ability to move large sums of money from point 'a' to point 'b', where is the "scarcity" or "intrinsic value" in a wire transfer?

Cryptocurrency solves a real problem in the world of electronic money and electronic money transfers, once the system is safe it will produce many trillionaires and quadrillionaires --  well beyond Buffet bucks.  

You miss his point entirely.  So what if you can use bitcoin to transmit money digitally?  That in itself doesn't make it valuable.  

And a paper with some words and pictures doesn't make it valuable.


Bwa ha haa. Give me all your dollars $$$                        (and your bitcoins)

[twiifm]

The arrogence of broke kids thinking they know more about investing than a multi billionaire.  LOL

Buffetts point is that there's no intrinsic value  in the aartificial scarcity because the code can be created ad infinitum.  Anyone can create a currency.  The hard part is to get others to accept it as money

that applies to every currency


for the most part fiat currency comes in two forms paper or metal, yet far more money is moved electronically than via paper or metal currency so clearly electronic currency is the big winner here.  

Many around the world pay big money to order international wires for the ability to move large sums of money from point 'a' to point 'b', where is the "scarcity" or "intrinsic value" in a wire transfer?

Cryptocurrency solves a real problem in the world of electronic money and electronic money transfers, once the system is safe it will produce many trillionaires and quadrillionaires --  well beyond Buffet bucks.  

You miss his point entirely.  So what if you can use bitcoin to transmit money digitally?  That in itself doesn't make it valuable.  

And a paper with some words and pictures doesn't make it valuable.


Bwa ha haa. Give me all your dollars $$$                        (and your bitcoins)

You are clueless.  Buffett doesnt invest in dollars he invests in companies.  Even guys who trade currencies trade them in pairs.  The price is always relative.  Nobody buys dollars and just sits on them

[panju1]

You are clueless.  Buffett doesnt invest in dollars he invests in companies.  Even guys who trade currencies trade them in pairs.  The price is always relative.  Nobody buys dollars and just sits on them

He invests in companies, but he has been clueless about tech.
He doesn't invest in things he doesn't fully understand. He should stay away from Bitcoin.

[Armis]

The arrogence of broke kids thinking they know more about investing than a multi billionaire.  LOL

Buffetts point is that there's no intrinsic value  in the aartificial scarcity because the code can be created ad infinitum.  Anyone can create a currency.  The hard part is to get others to accept it as money

that applies to every currency


for the most part fiat currency comes in two forms paper or metal, yet far more money is moved electronically than via paper or metal currency so clearly electronic currency is the big winner here.  

Many around the world pay big money to order international wires for the ability to move large sums of money from point 'a' to point 'b', where is the "scarcity" or "intrinsic value" in a wire transfer?

Cryptocurrency solves a real problem in the world of electronic money and electronic money transfers, once the system is safe it will produce many trillionaires and quadrillionaires --  well beyond Buffet bucks.  

You miss his point entirely.  So what if you can use bitcoin to transmit money digitally?  That in itself doesn't make it valuable.  

Clearly you are missing the same point Buffet was also missing, value is found everywhere.  

What is the "intrinsic value" of a paper dollar, what is the "intrinsic value" of a check, what is the intrinsic value of a credit card?  The value of a currency is derived by the faith in that currency to do as you expect it to do.  That's it, there is otherwise no intrinsic value in it.  

Given that there are tons of counterfeit money, tons of stolen credit cards, tons of wire fraud, and trillions in various kinds of fiat money scams each year the simple fact is electronic money transfers are better than cash transactions, and crypto currency transfers faster and less expensive than fiat based electronic transfers.

SWIFT's whole business model is based on electronic transfer of fiat based funds, there no reason that whole system could not be based on a crypto funds based system.  

Swift, mastercard and visa make money based on the ease of moving money not of the "intrinsic value" of an electronic transaction.  

Like I said, once the TRUST AND SAFETY is properly set in the system, it will be the norm and quads will form.

 

[screwUdriver]

The arrogence of broke kids thinking they know more about investing than a multi billionaire.  LOL

Buffetts point is that there's no intrinsic value  in the aartificial scarcity because the code can be created ad infinitum.  Anyone can create a currency.  The hard part is to get others to accept it as money

that applies to every currency


for the most part fiat currency comes in two forms paper or metal, yet far more money is moved electronically than via paper or metal currency so clearly electronic currency is the big winner here.  

Many around the world pay big money to order international wires for the ability to move large sums of money from point 'a' to point 'b', where is the "scarcity" or "intrinsic value" in a wire transfer?

Cryptocurrency solves a real problem in the world of electronic money and electronic money transfers, once the system is safe it will produce many trillionaires and quadrillionaires --  well beyond Buffet bucks.  

You miss his point entirely.  So what if you can use bitcoin to transmit money digitally?  That in itself doesn't make it valuable.  

And a paper with some words and pictures doesn't make it valuable.


Bwa ha haa. Give me all your dollars $$$                        (and your bitcoins)

You are clueless.  Buffett doesnt invest in dollars he invests in companies.  Even guys who trade currencies trade them in pairs.  The price is always relative.  Nobody buys dollars and just sits on them

Buffett invests in companies that would suffer if the value of dollars were to decline enough (they would prosper if the dollar has only moderate 'weakness'), so in effect he is investing in dollars.

[twiifm]

The arrogence of broke kids thinking they know more about investing than a multi billionaire.  LOL

Buffetts point is that there's no intrinsic value  in the aartificial scarcity because the code can be created ad infinitum.  Anyone can create a currency.  The hard part is to get others to accept it as money

that applies to every currency


for the most part fiat currency comes in two forms paper or metal, yet far more money is moved electronically than via paper or metal currency so clearly electronic currency is the big winner here.  

Many around the world pay big money to order international wires for the ability to move large sums of money from point 'a' to point 'b', where is the "scarcity" or "intrinsic value" in a wire transfer?

Cryptocurrency solves a real problem in the world of electronic money and electronic money transfers, once the system is safe it will produce many trillionaires and quadrillionaires --  well beyond Buffet bucks.  

You miss his point entirely.  So what if you can use bitcoin to transmit money digitally?  That in itself doesn't make it valuable.  

Clearly you are missing the same point Buffet was also missing, value is found everywhere.  

What is the "intrinsic value" of a paper dollar, what is the "intrinsic value" of a check, what is the intrinsic value of a credit card?  The value of a currency is derived by the faith in that currency to do as you expect it to do.  That's it, there is otherwise no intrinsic value in it.  

Given that there are tons of counterfeit money, tons of stolen credit cards, tons of wire fraud, and trillions in various kinds of fiat money scams each year the simple fact is electronic money transfers are better than cash transactions, and crypto currency transfers faster and less expensive than fiat based electronic transfers.

SWIFT's whole business model is based on electronic transfer of fiat based funds, there no reason that whole system could not be based on a crypto funds based system.  

Swift, mastercard and visa make money based on the ease of moving money not of the "intrinsic value" of an electronic transaction.  

Like I said, once the TRUST AND SAFETY is properly set in the system, it will be the norm and quads will form.

 

Obviously you don't know squat about fundamental analysis.  Buffetts point is that you cant derive bitcoins price from anything other than speculation.

I don't understand what you trying to say with regards to intrinsic value.  Doesn't apply to ehat hes saying

[smoothie]

Why would one think that Warren Buffet would actually save them heart ache in investments?

If Warren sees a opportunity to make money, do you really think he will tell you to buy in to something? Moreso it seems to me that he would tell you not to buy it so he could at some point.

Since when is his agenda for the greater good of the rest of the population?....exactly....never.

[shit coin]

Why would one think that Warren Buffet would actually save them heart ache in investments?

If Warren sees a opportunity to make money, do you really think he will tell you to buy in to something? Moreso it seems to me that he would tell you not to buy it so he could at some point.

Since when is his agenda for the greater good of the rest of the population?....exactly....never.

That's a good point, you won't hear him offering to sell investment advice for 0.5 bitcoins.

[Armis]

Why would one think that Warren Buffet would actually save them heart ache in investments?

If Warren sees a opportunity to make money, do you really think he will tell you to buy in to something? Moreso it seems to me that he would tell you not to buy it so he could at some point.

Since when is his agenda for the greater good of the rest of the population?....exactly....never.

sounds like you didn't read the article

The arrogence of broke kids thinking they know more about investing than a multi billionaire.  LOL

Buffetts point is that there's no intrinsic value  in the aartificial scarcity because the code can be created ad infinitum.  Anyone can create a currency.  The hard part is to get others to accept it as money

that applies to every currency


for the most part fiat currency comes in two forms paper or metal, yet far more money is moved electronically than via paper or metal currency so clearly electronic currency is the big winner here.  

Many around the world pay big money to order international wires for the ability to move large sums of money from point 'a' to point 'b', where is the "scarcity" or "intrinsic value" in a wire transfer?

Cryptocurrency solves a real problem in the world of electronic money and electronic money transfers, once the system is safe it will produce many trillionaires and quadrillionaires --  well beyond Buffet bucks.  

You miss his point entirely.  So what if you can use bitcoin to transmit money digitally?  That in itself doesn't make it valuable.  

Clearly you are missing the same point Buffet was also missing, value is found everywhere.  

What is the "intrinsic value" of a paper dollar, what is the "intrinsic value" of a check, what is the intrinsic value of a credit card?  The value of a currency is derived by the faith in that currency to do as you expect it to do.  That's it, there is otherwise no intrinsic value in it.  

Given that there are tons of counterfeit money, tons of stolen credit cards, tons of wire fraud, and trillions in various kinds of fiat money scams each year the simple fact is electronic money transfers are better than cash transactions, and crypto currency transfers faster and less expensive than fiat based electronic transfers.

SWIFT's whole business model is based on electronic transfer of fiat based funds, there no reason that whole system could not be based on a crypto funds based system.  

Swift, mastercard and visa make money based on the ease of moving money not of the "intrinsic value" of an electronic transaction.  

Like I said, once the TRUST AND SAFETY is properly set in the system, it will be the norm and quads will form.

 

Obviously you don't know squat about fundamental analysis.  Buffetts point is that you cant derive bitcoins price from anything other than speculation.

I don't understand what you trying to say with regards to intrinsic value.  Doesn't apply to ehat hes saying

I may not know the price of tea in China but I do know that's not the subject of discussion here.    

As for intrinsic value, Buffet said:

“Stay away from it. It’s a mirage, basically. … It’s a method of transmitting money. It’s a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope Bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view.”

There's no intrinsic value in fiat, yet you don't see him bashing USD.   If he doesn't buy currency then he should say that, but as for comparing btc to checks and the lot, that goes back to my previous comparative analysis to show you that the value is in the ability to move money quickly, easily, and safely.    BTC's system allows for money to move quickly and easily, individual transactions are safe however the system (or culture) is not safe -- yet.

It doesn't matter how you define 'intrinsic value' btc is a currency that includes a method of moving money quickly, easily, and at extremely low costs.  There is no fiat that does that.  All fiats need other systems to provide for the movement of their currency.  Fiat's electronic money is moved in various ways, via wire or ACH, there's no intrinsic value in the electronic wire, however the business of electronic wire transfers is worth trillions; likewise the intrinsic value of connecting fiat to plastic credit/debit cards is also a big money maker, if the value is not in the electronic nature of the currency why would anyone spend more for one electronic service over another -- speed and ease of use that's why.  As such even if you discount BTC's currency as worthless, it's ability to move money quickly and easily makes it worth billions by any reasonable standard.

[twiifm]

I may not know the price of tea in China but I do know that's not the subject of discussion here.    

As for intrinsic value, Buffet said:

“Stay away from it. It’s a mirage, basically. … It’s a method of transmitting money. It’s a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope Bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view.”

There's no intrinsic value in fiat, yet you don't see him bashing USD.   If he doesn't buy currency then he should say that, but as for comparing btc to checks and the lot, that goes back to my previous comparative analysis to show you that the value is in the ability to move money quickly, easily, and safely.    BTC's system allows for money to move quickly and easily, individual transactions are safe however the system (or culture) is not safe -- yet.

It doesn't matter how you define 'intrinsic value' btc is a currency that includes a method of moving money quickly, easily, and at extremely low costs.  There is no fiat that does that.  All fiats need other systems to provide for the movement of their currency.  Fiat's electronic money is moved in various ways, via wire or ACH, there's no intrinsic value in the electronic wire, however the business of electronic wire transfers is worth trillions; likewise the intrinsic value of connecting fiat to plastic credit/debit cards is also a big money maker, if the value is not in the electronic nature of the currency why would anyone spend more for one electronic service over another -- speed and ease of use that's why.  As such even if you discount BTC's currency as worthless, it's ability to move money quickly and easily makes it worth billions by any reasonable standard.

If you asked him if investing in USD (i.e. stuffing a matress with cash) is a good investment he'd probably tell you you're an idiot.

Who cares if you can send bitcoins all over in digital space?  What does it have to do with the price?  You can do this whether it's $1 or $1000 per Bitcoin.  If you think there's a potential big business in transmitting Bitcoin money then invest in Coinbase or something similar.

Money or currency is just the intermediary for exchange economy.  The  'intrinsic' value is in the product or service being exchanged.  The business that creates products or services has intrinsic value.  That's his point.  The investment thesis of Bitcoin is false, "it's a mirage"

Buffett is a fundamental investor.  Fundamental investing is buying something at discount compared to future cash flows.  What's the future cash flow of Bitcoin?  None because it's price is speculative commodity.  Like beanie babies or gold.  If you think it's a currency then that's double stupid.  Nobody invests in currencies.  They trade currency pairs

[Bobsurplus]

Fuck Warren buffet.... That fat fuck is too old to understand what's to come... I mean.. he's rich and did better then anyone else in our lifetime when it comes to wallstreet and investing but he knows nothing about crypto and even less on where this world is gonna be in 20 years when he is dead and gone!

#VivaLaBTC

[screwUdriver]

Why would one think that Warren Buffet would actually save them heart ache in investments?

If Warren sees a opportunity to make money, do you really think he will tell you to buy in to something? Moreso it seems to me that he would tell you not to buy it so he could at some point.

Since when is his agenda for the greater good of the rest of the population?....exactly....never.

He is generally not that selfish. The fact that he has such a large amount of money means that he tends to buy entire companies (or large percentages of companies) as opposed to a few hundred shares of stock. Not only that but if he were to invest in a company and then were to say that he thinks it is a good investment then the price of the stock will likely rise because people tend to listen to his advice

[twiifm]

Why would one think that Warren Buffet would actually save them heart ache in investments?

If Warren sees a opportunity to make money, do you really think he will tell you to buy in to something? Moreso it seems to me that he would tell you not to buy it so he could at some point.

Since when is his agenda for the greater good of the rest of the population?....exactly....never.

He is generally not that selfish. The fact that he has such a large amount of money means that he tends to buy entire companies (or large percentages of companies) as opposed to a few hundred shares of stock. Not only that but if he were to invest in a company and then were to say that he thinks it is a good investment then the price of the stock will likely rise because people tend to listen to his advice

Most posters here who call him an old man probably don't know how he became rich or what Berkshire Hathaway does as a company.

He is also one of the greatest modern day philanthropist donating approx $20B to date

[Armis]

I may not know the price of tea in China but I do know that's not the subject of discussion here.    

As for intrinsic value, Buffet said:

“Stay away from it. It’s a mirage, basically. … It’s a method of transmitting money. It’s a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope Bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view.”

There's no intrinsic value in fiat, yet you don't see him bashing USD.   If he doesn't buy currency then he should say that, but as for comparing btc to checks and the lot, that goes back to my previous comparative analysis to show you that the value is in the ability to move money quickly, easily, and safely.    BTC's system allows for money to move quickly and easily, individual transactions are safe however the system (or culture) is not safe -- yet.

It doesn't matter how you define 'intrinsic value' btc is a currency that includes a method of moving money quickly, easily, and at extremely low costs.  There is no fiat that does that.  All fiats need other systems to provide for the movement of their currency.  Fiat's electronic money is moved in various ways, via wire or ACH, there's no intrinsic value in the electronic wire, however the business of electronic wire transfers is worth trillions; likewise the intrinsic value of connecting fiat to plastic credit/debit cards is also a big money maker, if the value is not in the electronic nature of the currency why would anyone spend more for one electronic service over another -- speed and ease of use that's why.  As such even if you discount BTC's currency as worthless, it's ability to move money quickly and easily makes it worth billions by any reasonable standard.

If you asked him if investing in USD (i.e. stuffing a matress with cash) is a good investment he'd probably tell you you're an idiot.

Who cares if you can send bitcoins all over in digital space?  What does it have to do with the price?  You can do this whether it's $1 or $1000 per Bitcoin.  If you think there's a potential big business in transmitting Bitcoin money then invest in Coinbase or something similar.

Money or currency is just the intermediary for exchange economy.  The  'intrinsic' value is in the product or service being exchanged.  The business that creates products or services has intrinsic value.  That's his point.  The investment thesis of Bitcoin is false, "it's a mirage"

Buffett is a fundamental investor.  Fundamental investing is buying something at discount compared to future cash flows.  What's the future cash flow of Bitcoin?  None because it's price is speculative commodity.  Like beanie babies or gold.  If you think it's a currency then that's double stupid.  Nobody invests in currencies.  They trade currency pairs

You don't invest in currency by "stuffing a mattress with cash" that's called 'saving'.   Currency trading is a totally different animal, you should know if you are in crypto, given all of the cryptocurrency trading exchanges available.   Long before crypto exchanges there were currency exchanges for fiat (still exist).

Anyway, as for your "who cares ..." statement, the answer is everyone.   And as for "what does it have to do with the price"  the answer is everything.   Checks take days to clear, ACHs generally go faster, and wires faster still, speed of flow is the largest determinate for the price/fee charged -- ask western union.

The "cash flow" question is just stupid.   And if you don't think BTC is a currency then you don't know the definition of the word currency.   A currency is a means of exchange between buyer and sellers for goods or services.  Currency is a commodity when it is the good that is being purchased or sold and not the means for the transfer.  As such most of the transactions done on most non-btc exclusive exchanges (ie: Cryptsy) are using BTC as the mainstay currency to buy and sell other currencies as commodities.   

When a currency is used as a currency to buy something ELSE such as a book that currency is unquestionably a currency.  Gold has very many different uses mainly in manufacturing (ie: jewery), but also as a commodity, and as currency but rarely as currency.   Gold cannot be transferred electronically.


"Nobody invests in currencies.  They trade currency pairs"      Huh!, now you're just being a stupid idiot ... in case you are not stupid and just an ignorant idiot here: http://en.wikipedia.org/wiki/Foreign_exchange_market






 

[mestar]

You don't invest in currency by "stuffing a mattress with cash"

When you are comparing it to investing in Bitcoin, this is exactly how you invest in a currency.

[twiifm]

I may not know the price of tea in China but I do know that's not the subject of discussion here.    

As for intrinsic value, Buffet said:

“Stay away from it. It’s a mirage, basically. … It’s a method of transmitting money. It’s a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope Bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view.”

There's no intrinsic value in fiat, yet you don't see him bashing USD.   If he doesn't buy currency then he should say that, but as for comparing btc to checks and the lot, that goes back to my previous comparative analysis to show you that the value is in the ability to move money quickly, easily, and safely.    BTC's system allows for money to move quickly and easily, individual transactions are safe however the system (or culture) is not safe -- yet.

It doesn't matter how you define 'intrinsic value' btc is a currency that includes a method of moving money quickly, easily, and at extremely low costs.  There is no fiat that does that.  All fiats need other systems to provide for the movement of their currency.  Fiat's electronic money is moved in various ways, via wire or ACH, there's no intrinsic value in the electronic wire, however the business of electronic wire transfers is worth trillions; likewise the intrinsic value of connecting fiat to plastic credit/debit cards is also a big money maker, if the value is not in the electronic nature of the currency why would anyone spend more for one electronic service over another -- speed and ease of use that's why.  As such even if you discount BTC's currency as worthless, it's ability to move money quickly and easily makes it worth billions by any reasonable standard.

If you asked him if investing in USD (i.e. stuffing a matress with cash) is a good investment he'd probably tell you you're an idiot.

Who cares if you can send bitcoins all over in digital space?  What does it have to do with the price?  You can do this whether it's $1 or $1000 per Bitcoin.  If you think there's a potential big business in transmitting Bitcoin money then invest in Coinbase or something similar.

Money or currency is just the intermediary for exchange economy.  The  'intrinsic' value is in the product or service being exchanged.  The business that creates products or services has intrinsic value.  That's his point.  The investment thesis of Bitcoin is false, "it's a mirage"

Buffett is a fundamental investor.  Fundamental investing is buying something at discount compared to future cash flows.  What's the future cash flow of Bitcoin?  None because it's price is speculative commodity.  Like beanie babies or gold.  If you think it's a currency then that's double stupid.  Nobody invests in currencies.  They trade currency pairs

You don't invest in currency by "stuffing a mattress with cash" that's called 'saving'.   Currency trading is a totally different animal, you should know if you are in crypto, given all of the cryptocurrency trading exchanges available.   Long before crypto exchanges there were currency exchanges for fiat (still exist).

Anyway, as for your "who cares ..." statement, the answer is everyone.   And as for "what does it have to do with the price"  the answer is everything.   Checks take days to clear, ACHs generally go faster, and wires faster still, speed of flow is the largest determinate for the price/fee charged -- ask western union.

The "cash flow" question is just stupid.   And if you don't think BTC is a currency then you don't know the definition of the word currency.   A currency is a means of exchange between buyer and sellers for goods or services.  Currency is a commodity when it is the good that is being purchased or sold and not the means for the transfer.  As such most of the transactions done on most non-btc exclusive exchanges (ie: Cryptsy) are using BTC as the mainstay currency to buy and sell other currencies as commodities.   

When a currency is used as a currency to buy something ELSE such as a book that currency is unquestionably a currency.  Gold has very many different uses mainly in manufacturing (ie: jewery), but also as a commodity, and as currency but rarely as currency.   Gold cannot be transferred electronically.


"Nobody invests in currencies.  They trade currency pairs"      Huh!, now you're just being a stupid idiot ... in case you are not stupid and just an ignorant idiot here: http://en.wikipedia.org/wiki/Foreign_exchange_market






 

LOL you sent me a wikipedia link to forex which proves my point about trading currency pairs.

You have no clue about money markets and why it exists and how it works.  You're just a noob retail investor trying to school me with your rudimentary understanding.  Try reading that wiki in entirity before embarassing yourself again.

Bitcoin is a currency on the level of Chuckee Cheese tokens.  Like Chuckee Cheese token you can buy stuff with it.  But its not even on the level of one of the worst national currency like Vietnamese Dong

[smoothie]

Why would one think that Warren Buffet would actually save them heart ache in investments?

If Warren sees a opportunity to make money, do you really think he will tell you to buy in to something? Moreso it seems to me that he would tell you not to buy it so he could at some point.

Since when is his agenda for the greater good of the rest of the population?....exactly....never.

He is generally not that selfish. The fact that he has such a large amount of money means that he tends to buy entire companies (or large percentages of companies) as opposed to a few hundred shares of stock. Not only that but if he were to invest in a company and then were to say that he thinks it is a good investment then the price of the stock will likely rise because people tend to listen to his advice

Most posters here who call him an old man probably don't know how he became rich or what Berkshire Hathaway does as a company.

He is also one of the greatest modern day philanthropist donating approx $20B to date

Please tell me HOW he became rich.

Thanks.

[mmortal03]

Buffett made the comments back in March, I believe. This article is just quoting that.