gogxmagog
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Activity: 1456
Merit: 1010
Ad maiora!
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December 31, 2014, 08:50:56 PM |
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Indeed. Buffet is an old school guy stuck in old school ways. Exactly the type of mogul who will be deposed by crypto.
He even admits he never invests in things he doesn't understand and he doesn't understand tech. He's just bitching because he doesn't get it.
I feel for him though. My local has a regular roots music/ country jam every Sunday, everyone goes, they love it huge success all round. I hate country music. I hate it even more for ruining my Sunday's now. Poor Buffet, maybe he wants to drink with me on Sunday? We can listen to my power electronics records and I promise not to mention cryptos.
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charlieSeen
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January 01, 2015, 03:02:41 AM |
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Indeed. Buffet is an old school guy stuck in old school ways. Exactly the type of mogul who will be deposed by crypto.
He even admits he never invests in things he doesn't understand and he doesn't understand tech. He's just bitching because he doesn't get it.
I feel for him though. My local has a regular roots music/ country jam every Sunday, everyone goes, they love it huge success all round. I hate country music. I hate it even more for ruining my Sunday's now. Poor Buffet, maybe he wants to drink with me on Sunday? We can listen to my power electronics records and I promise not to mention cryptos.
I wouldn't say that he is "bitching" about bitcoin, but rather is warning people that he does not know it is a good investment and that he does not invest in things unless he is certain that it will be a good investment. You are right to say that he does not understand bitcoin |
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Brooker
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January 01, 2015, 03:44:40 PM |
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Indeed. Buffet is an old school guy stuck in old school ways. Exactly the type of mogul who will be deposed by crypto.
He even admits he never invests in things he doesn't understand and he doesn't understand tech. He's just bitching because he doesn't get it.
I feel for him though. My local has a regular roots music/ country jam every Sunday, everyone goes, they love it huge success all round. I hate country music. I hate it even more for ruining my Sunday's now. Poor Buffet, maybe he wants to drink with me on Sunday? We can listen to my power electronics records and I promise not to mention cryptos.
Buffet has had his day. Isn;t it him that doesn't even own a computer or a cell phone or something? Regardless, let's let the Younger entrepreneurs and visionaries and the people with their fingers on the pulse of cutting edge technology put their money into this. I'm sure he will be regretting his comments in the future. |
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El Emperador
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January 01, 2015, 08:42:35 PM |
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Warren Buffett simply doesn't understand the potential of new technology because he's an old-fashioned, conservative investor. But he's still a great investor anyway.
He stays away even from every kind of company related to Internet or computer science in general... probably he's even not able to turn on a computer! Nonetheless he's still making big bucks and so he deserves respect.
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philiveyjr
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Activity: 840
Merit: 1000
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January 01, 2015, 10:39:24 PM |
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Who cares? Eventually even geniuses stuck in old ways become outdated and irrelevant
Take the internet as an example. People thought it would fail but it became the biggest thing ever in our history. Yeah I agree.!! + Warren Buffet is a guy who works with his instincts..! probably he doesnt know abt BTC completely.!! n just says abt it instinctively! |
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sdmathis
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January 02, 2015, 05:52:23 AM |
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Of course he doesn't like bitcoin. He made his fortune as the world's foremost value investor. Why should he change what works for him? |
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sandykho47
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Activity: 252
Merit: 251
Knowledge its everything
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January 02, 2015, 10:58:25 AM |
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I bet he just don't want to take risk invest his money to bitcoin And if me think bitcoin as investment, i won't invest my money to bitcoin I bet he will be sad when bitcoin price raise up  |
Kemampuanku Tidak semua orang memiliki dan dapat melakukannya . Tidak memakan kaum sendiri . dan mempunyai kode etik yang tidak masuk akal.
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findftp
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Activity: 1022
Merit: 1006
Delusional crypto obsessionist
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January 02, 2015, 11:12:41 AM |
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Well, one thing is sure. When he says "buy bitcoin", then it is time to SELLBuy low, sell high. |
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Daniel91
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January 02, 2015, 01:43:11 PM |
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Of course he doesn't like bitcoin. He made his fortune as the world's foremost value investor. Why should he change what works for him? I don't think that there is such things like ''like'' or ''not like'' in investment business. Investors always looking for the best ways to invest money, and they shouldn't involve their personal feelings in the process. In business one thing is always true, if you don't change or adapt to the changes, you loose. It seems that Warren Buffet is to old or to conservative to change and accept ''new things'' or new way of investment. |
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findftp
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Activity: 1022
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Delusional crypto obsessionist
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January 02, 2015, 02:32:43 PM |
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Of course he doesn't like bitcoin. He made his fortune as the world's foremost value investor. Why should he change what works for him? I don't think that there is such things like ''like'' or ''not like'' in investment business. Investors always looking for the best ways to invest money, and they shouldn't involve their personal feelings in the process. In business one thing is always true, if you don't change or adapt to the changes, you loose. It seems that Warren Buffet is to old or to conservative to change and accept ''new things'' or new way of investment. That, and he is too old to bother about bitcoin because once bitcoin is really adopted and he is proven wrong he is probably already dead because he is not the youngest among us. |
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BitmoreCoin
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January 02, 2015, 03:38:03 PM |
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Tech stock or bitcoin is too difficult to evaluate. They do not provide predictable cash flow.
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sdmathis
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January 02, 2015, 03:54:42 PM |
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Of course he doesn't like bitcoin. He made his fortune as the world's foremost value investor. Why should he change what works for him? I don't think that there is such things like ''like'' or ''not like'' in investment business. Investors always looking for the best ways to invest money, and they shouldn't involve their personal feelings in the process. In business one thing is always true, if you don't change or adapt to the changes, you loose. It seems that Warren Buffet is to old or to conservative to change and accept ''new things'' or new way of investment. Everybody has his own style and techniques when it comes to investments. Buffet is a student of Benjamin Graham and has come closer to perfecting Graham's ideas and techniques than anyone else has. Buffet would have to gain a whole new skill-set by researching and educating himself about bitcoin. That's why he doesn't invest in bitcoin, forex, and other markets that are outside his expertise. Only a fool spreads himself too thin and expects to make a profit, and Buffet is no fool. |
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Alphabit
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January 02, 2015, 07:09:13 PM |
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Well said, he is a man I have much respect for. His opinion and recommendation is relevant on the conventional side. I would not say poor Warren tho, he is doing what works for him which is right. From my view he may have a problem with the absent of a regulated or central body as norm with a the regular financial markets. In any event do only what you understand and if you don't research and learn. Cause you may miss out on the next best thing.
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DaNksta
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January 02, 2015, 10:18:12 PM
Last edit: January 02, 2015, 11:57:49 PM by DaNksta |
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My thoughts: Screw Warren Buffet. Who cares?
Read his actual quote - It's just a "NO SHIT" that logically makes no fucking sense as to why bitcoin shouldn't be valued.
His quote:
“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.”
My response:
The US dollar is a way of transmitting money as well. A very effective way of transmitting money - it would be far less effective than bitcoin if everyone accepted bitcoin... You can do it (spend cash) anonymously and all that. Should we stay away from cash money too? NO - These things make it valuable. Checks are fucking retarded you can't just buy stuff with a check its a pain in the ass, you have to cash it, pay a fee, or have a bank account in which case it takes days to clear....
Soooo when bitcoin was under 10 cents per bitcoin it would still have been a bad investment in this guys mind - and if you did the opposite of follow his advice then you could very well be a millionaire/billionaire.....
Bitcoin rose too fast, just like gold did, and so it was bound to drop back down even if it was going to continue to climb eventually - the price was just artificially high because the skyrocket created a huge demand for bitcoin. Any idiot can see that happening / coming - but in the long run I think bitcoin is here to stay for the next 60 years AT LEAST - unless governments make it illegal or people find a better alternative, in which case it will probably STILL stay around, it just won't do as well.
So yes, bitcoin will struggle for the next year, maybe two, maybe three, but eventually people will see it for what it is and as more coins are released and the initial hype dies off the price will slowly become more and more stable. In the long run Warren Buffet could not be more wrong. It's just not a good investment at this point in time - I'd wait until it drops under $250.
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botany
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January 03, 2015, 06:43:59 AM |
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Well said, he is a man I have much respect for. His opinion and recommendation is relevant on the conventional side. I would not say poor Warren tho, he is doing what works for him which is right. From my view he may have a problem with the absent of a regulated or central body as norm with a the regular financial markets. In any event do only what you understand and if you don't research and learn. Cause you may miss out on the next best thing.
He may be right about a lot of things and people respect him for it, but I guess technology is not his cup of tea. |
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Vessko
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January 03, 2015, 11:10:27 AM |
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He may be right about a lot of things and people respect him for it, but I guess technology is not his cup of tea. No, it is not. Investing is. So, it would be a good idea not to listen to his opinion on how much to increase the block size but to listen to his opinion on what to invest in (and in what not to). |
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CryptoCurrencyInc.com
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January 14, 2015, 05:24:26 AM
Last edit: January 15, 2015, 10:09:08 PM by CryptoCurrencyInc.com |
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When you hear a high ranking member of the terrorist organization Illuminati issued a statement such as: “ Stay Away From Bitcoin” That's like an order that he commanded all illuminati members to sell all their holdings in Bitcoins, and never buy Bitcoin again. That's why you see the price of Bitcoin is now selling below $219. My guess is:The Illuminati is aggressively pulling out all their investments in Bitcoin. Illuminati members were caught red handed many times manipulating the stock market using common sense strategy known as: " Buy as a crowd" - Illuminati members all buy a certain stock (asset) at a certain time to push price up. " Sell as a crowd" - Illuminati members all sell a certain stock (asset) at a certain time to drive price down. That is the reason why, the mastermind Warren Buffett are confident enough to issue this statement in public, while he's holding an ice-cream cone. " The Trend is Your Friend".  |
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xcapator
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Here I Am !!
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February 19, 2015, 03:24:53 PM |
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BTC holds an intrinsic value that is very interest rate sensitive, I expect BTC to prove warren to be an out right liar, shortly after the first rate hike.
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zimmah
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February 19, 2015, 03:34:21 PM |
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warren buffet lies all the time, you should do the opposite of what he tells you to do.
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picolo
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February 19, 2015, 04:28:49 PM |
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warren buffet lies all the time, you should do the opposite of what he tells you to do.
He lies/don't tell the full truth at least 50% of the time when it comes to the future. He doesn't understand most new technologies as he says himself. |
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