Warren Buffet saids: “Stay Away From Bitcoin”

[freeyoungmike]

No one can be right 100% of the time on everything. He had a 50/50 of getting it right. Bitcoin is not even a decade old yet, and he probably made the money call too soon.

It's perfectly fine to say BTC is a bad investment if backed up with sound reasoning, but his reasonings are terrible. It's clear that he doesn't fully understand the technology based on his reasoning.

That's right  I believe bitcoin has a huge potential with real world purposes and that makes us the new elite 

[iheartubuntu]

Lets see where Buffet invests based on last months reporting... American Express, Bank of NY Mellon Corp, Goldman Sachs, Mastercard, M&T Bank Corp, US Bancorp, VISA, Wells Fargo & Co.

Buffet invests with five banks and the top three credit card services. NUFF SAID!

[Pierre11]

No one can be right 100% of the time on everything. He had a 50/50 of getting it right. Bitcoin is not even a decade old yet, and he probably made the money call too soon.

It's perfectly fine to say BTC is a bad investment if backed up with sound reasoning, but his reasonings are terrible. It's clear that he doesn't fully understand the technology based on his reasoning.

That's right  I believe bitcoin has a huge potential with real world purposes and that makes us the new elite 

It sure does have huge potential IF the right people begin using it as a currency and not just to make money..

[AGD]

Does that mean, that I hodl more BTC than Warren Buffet?

[SBOSS]

So Warren Buffet is bullish on alternates?   

[Denker]

Lets see where Buffet invests based on last months reporting... American Express, Bank of NY Mellon Corp, Goldman Sachs, Mastercard, M&T Bank Corp, US Bancorp, VISA, Wells Fargo & Co.

Buffet invests with five banks and the top three credit card services. NUFF SAID!

Yeah that's it. Wanted to write the same. Seeing his investments it's obvious that he is against Bitcoin.
Because is it's future competitor.

[bitdraw]

Lets see where Buffet invests based on last months reporting... American Express, Bank of NY Mellon Corp, Goldman Sachs, Mastercard, M&T Bank Corp, US Bancorp, VISA, Wells Fargo & Co.

Buffet invests with five banks and the top three credit card services. NUFF SAID!

Yeah that's it. Wanted to write the same. Seeing his investments it's obvious that he is against Bitcoin.
Because is it's future competitor.

as the losses of banks seem to get equally distributed over the whole country they are pretty safe investments

[548845]

One of the high ranking family member of the 13 inbred terrorist European Bloodline "Warren Buffet" tells his fans & investors to "stay away from Bitcoin."

You can find his excuses in the following articles below:

https://www.cryptocoinsnews.com/warren-buffet-stay-away-from-bitcoin/
http://www.forexminute.com/bitcoin/warren-buffet-oracle-omaha-suggests-investors-stay-away-bitcoin-2015-52383


Do you have any thoughts?

As far as I know the age of the Dinosaurs is over.
So, the age of the modern dinosaurs will soon be over too.
Say goodbye to Buffet, Rockefeller, Rothschilds, etc....

They have NO control over crypto.
And chances are that within the next 50 years, money will be only crypto in the most advanced (modern) countries of the world.

At least that is what I believe.

[lazyhorse]

He could be right....he could be wrong! I dont care..I still think it has a decent value n is really volatile..It is fun dealing with it! this is not what Mr.Buffet would like anyways!

[cryptworld]

Warren Buffet is an oldschool master. (master of the masters actually)

“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.”

This answer is so god damn stupid. The ways he mentioned, non of them provides the anonymosity and more importantly they are not free. He is right about one thing though, btc is only good for transferring money for now. Volatility is killing this things true potential.

His answer isn't "so god damn stupid" it's actually pretty logical, sensible, and smart. The only element he doesn't explain way is the finite amount of Bitcoins that will exist. If there were only checks or money orders or debit cards available in the world, let's say 21 million, would there be a premium to use them as a form of payment?

The reason Buffet advises potential investors to stay away from bitcoin is because he does not understand bitcoin. It has nothing to do with the underlying potential value of bitcoin, nor the potential success of bitcoin in the future

is this real?
he doesn't understand bitcoin? it sounds really strange to me

he is one of the most important investors in the history

[countryfree]

I'm a BTC supporter and yet, I believe Warren Buffet's right because BTC is not an investment. I see BTC as a currency and very few currencies are good investments. Does anyone think as the US dollar as an investment?

[bornil267645]

Say all he can, Bitcoin community will stand strong like always.

[Window2Wall]

Warren Buffet is an oldschool master. (master of the masters actually)

“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.”

This answer is so god damn stupid. The ways he mentioned, non of them provides the anonymosity and more importantly they are not free. He is right about one thing though, btc is only good for transferring money for now. Volatility is killing this things true potential.

His answer isn't "so god damn stupid" it's actually pretty logical, sensible, and smart. The only element he doesn't explain way is the finite amount of Bitcoins that will exist. If there were only checks or money orders or debit cards available in the world, let's say 21 million, would there be a premium to use them as a form of payment?

The reason Buffet advises potential investors to stay away from bitcoin is because he does not understand bitcoin. It has nothing to do with the underlying potential value of bitcoin, nor the potential success of bitcoin in the future

is this real?
he doesn't understand bitcoin? it sounds really strange to me

he is one of the most important investors in the history

Warren Buffer does not understand most modern technology (bitcoin inclusive). I am somewhat surprised this is the case because businesses need to be able to adapt to new technology 

[btckold24]

he makes it pretty clear that he only invests in things he believes are "sure things" Companies that are tangible where he can see earnings and talk to ceo's.

Of course he isn't going to support some random internet fad.  If BTC takes off like we hope it will then trust me him and his people may not get in on the bottom but they will get in at some point when it is safe and stable and make 100x what any of us will lol

[twiifm]

He's been right so far.  When he said bitcoin was dogshit it was near the ATH.

Buffett is a smart guy.  He doesnt need to geek out on the blockchain tech.  But he understands its a shir investment cause its all speculation

[bitdraw]

He's been right so far.  When he said bitcoin was dogshit it was near the ATH.

Buffett is a smart guy.  He doesnt need to geek out on the blockchain tech.  But he understands its a shir investment cause its all speculation

buffet used to see what many others didnt in his prime. now he is just living from his reputation and his predictions can influence markets..

[rax]

Warren Buffett has a huge responsibility upon his shoulders. Therefore he is an extremely cautious person, both when he speaks and when he invests.

There is no way he would ever endorse such a high-risk investment as Bitcoin currently is. Not even if he had a good grasp of the underlying technology and its benefits.

[iGotSpots]

Who cares? Eventually even geniuses stuck in old ways become outdated and irrelevant

[DiabolusLoki]

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.

[gogxmagog]

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.