Your daily reminder that Warren Buffet thinks bitcoin has no future

King_Martha
King_Martha

Your daily reminder that Warren Buffet thinks bitcoin has no future. He also didn't invest during the dot com bubble when everyone become crazy with this new think called internet.
youtube.com/watch?v=ewMYbX47-IE
Why is bitcoin a bubble?
1. it's a new thing people don't really understand
2. we don't even know who satoshi really is and what was his real motives
3. we think it's revolutionary and will be worth a lot more in the future (10x, 50x, 100x?). "It's not really used yet but trust me, it will be seen as the incontested global currency by 2030"
4. Prices go up like crazy.

In every bubble, you had experts who strongly believed in it and were telling everyone to invest.

All urls found in this thread:

youtube.com/watch?v=ewMYbX47-IE

iluvmen
iluvmen

its not bubble in long term tho

Carnalpleasure
Carnalpleasure

Bitcoin really doesn't have a future though. It's fucking shit. Fuck Bitcoin.

Firespawn
Firespawn

jfl at thinking the dotcom bust was the end of internet industry. the big boys survived it and eventually regrow to exponentially higher values than they were at even during the peak of the bubble. there will be a cryptocrash and bitcoin's value will plummet, but then it will rise again to higher than ever before.

LuckyDusty
LuckyDusty

It's not the same thing, retard. In the dot com bubble, people were investing in companies. We are investing in a store of value.

AwesomeTucker
AwesomeTucker

Take a look at Cisco's stock which never recovered.

FastChef
FastChef

what is the intrinsic value of bitcoins that can't be done any other way?

JunkTop
JunkTop

Warren Buffet thinks bitcoin has no future
Good to know.
I've made tons of money doing the opposite of what he says.

Need_TLC
Need_TLC

Cuz Buffet is a fucking old fuck who already made all the money in the world he's blinded by it you BUFFOOON

Lunatick
Lunatick

warren buffet is a dinosaur

PurpleCharger
PurpleCharger

Their rise was far faster and less sustainable than BTC's while holding far less of a market dominance.

kizzmybutt
kizzmybutt

1
If normies don't understand yet, the bubble hasn't even started
2
bitcoin is decentralized. Satoshi can't just edit his balance as he pleases
3
It will be worth more because when normies get in, the miner / user ratio will be worse. This means a lower supply, higher demand.
4
implying anything that rises in price is in a bubble

Firespawn
Firespawn

I imagine buying out the financial institution that handles your money gives benefits that make anything crypto can do pale in comparison.

Sharpcharm
Sharpcharm

Did anyone watch the video? He just said it was a fast money order. Do you know how much money orders cost right now?
Western Union is fucked and no one sees potential in that?

RumChicken
RumChicken

ive been seeing fucking facebook posts with sensationalist headlines im fucking scared

likme
likme

Banks will adjust to that new technology. They will create something exactly like that, with the added security. Bank transfers take time now because they assess risk before sending the money. BTC is fast but highly risky.

Firespawn
Firespawn

caring about some old cunt who is probably too bitter to understand what this technology even means

eGremlin
eGremlin

blockchain is revolutionary yes, like internet was.
The real game changer here is the blockchain, not bitcoin.

GoogleCat
GoogleCat

Warren Buffet
bitter
Yeah, he's probably real depressed.

Spamalot
Spamalot

also the scam is to make people think bitcoin = blockchain.
During the dot com bubble, pets.com or theglobe.com were valued like crazy (840mio market cap for that site). What was the argument behind that frenetic mania ? "Internet is revolutionary and will be a game changer".
They were right, internet was a game changer, not those fucking websites.
Same now with bitcoins and the blockchain.

girlDog
girlDog

True. Bitcoin is like AOL. Was originally #1 but was quickly replaced by better products. Don't get emotionally invested in a specific coin.

Skullbone
Skullbone

Warren Buffet has a different investing style. He is old fashioned investing style is to buy stocks where the company value exceeds what the price is currently at. I think its an incredibly good way to invest, and has earned him a ton.

This being said, he said bitcoin doesn't have a future when it was like a few hundred bucks. And now we are at $3000. I think he either can't accept being wrong about something, or, more likely, he doesn't understand the impact of bitcoin on countries with economic failure and what bitcoin can provide.

BinaryMan
BinaryMan

I respect Buffet but come on, he himself said he doesn't know shit about technology

Need_TLC
Need_TLC

Buffet is a relic of the 1950s.

If he started again with $100,000 dollars right now he wouldn't make shit.

farquit
farquit

so who will be google in all of this?

Techpill
Techpill

If he started again with $100,000 dollars right now he wouldn't make shit
Those grapes were probably sour anyway.

Sharpcharm
Sharpcharm

The flaw in this autistic line of thinking is that being a "better product" or "more tech" makes something a better store of value.

SniperGod
SniperGod

Google of all this could be bitcoin or etherium (if they adapt, unlikely), could be a yet unknown altcoin, or could not exist yet. Could also end up being a balkanized coinworld. Who knows.

FastChef
FastChef

I don't know about any long term future but it certainly had one back in 2014.

Soft_member
Soft_member

People on Veeky Forums are dismissing the advice of perhaps the most successful investor ever.

Tiem to cash out. bye bois.

Actually serious.

happy_sad
happy_sad

couldn't be balkanised, there has to be a reserve currency like BTC is now. without a reserve currency you're basically just bartering, it's not even currency at that point.

Evilember
Evilember

Your daily reminder that Warren Buffet thinks bitcoin has no future

That's right, didn't you know Warren Buffett and Charlie Munger secretly invested to Ethereum, NEM and DASH, all of which have superior tech?

StonedTime
StonedTime

So. U r sayn I would be stupid to buy facebook shares back in 2010 ?

Stupidasole
Stupidasole

It is open source you faggot

w8t4u
w8t4u

It's very logical to not believe in Bitcoin, because you invest in an easily copyable technology with a market value driven on hype.
While warren buffet invests in assets. Things that derive their value from their ability to produce wealth.

If you want quick gains then cryptocoins can be very useful. But he prefers stocks as they basically print coins.

5mileys
5mileys

Facebook and crypto are not the same thing.
Crypto will never pay you a dividend. Crypto doesn't have revenue. Crypto doesn't expand and contract with business cycles.
Buying/holding crypto is very akin to buying/holding gold.

GoogleCat
GoogleCat

this isn't stocks

massdebater
massdebater

?

Inmate
Inmate

What's the intrinsic value of gold?

Dreamworx
Dreamworx

Store of value and means of exchange + artisanal uses for the entirety of human civilisation.

TreeEater
TreeEater

Buffet didn't invest in Amazon either

massdebater
massdebater

it doesn't really have any intrinsic value now. Bitcoin has the potential to become gold 2.0.

TreeEater
TreeEater

Good conductor

BunnyJinx
BunnyJinx

So Buffet lost out on mad gains from Amazon, Ebay, Cisco and many others? Ok then. Good to know.

King_Martha
King_Martha

Warren somebody...
ok grandpa

SomethingNew
SomethingNew

pls no

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