Warren Buffett: "You can’t value bitcoin because it’s not a value-producing asset."

Back to Instagram you go nigger

Let ((them)) fud. We will accumulate too. Normies who believe ((them)) will lose that's it.

This. Prepare for $8k Bitcoin.

If he is right then non-dividend paying stocks are also a waste of money.

Some day our BTCs are going to commit to a communist uprising and take back the means of production for themselves.

Value/worth = work is a meme equation
akin to the idea that debt is always bad.

Aka, it's mostly a good point, and mostly the truth, but it isn't really true.

Value and worth are like beauty, in the eye of the beholder.
Tulips != Work, for byspell.

These old men already have everything, they already made it. They don't need new things, they don't want change, they are already at the top. They don't want change, they want to keep everything the same, because they are already comfy as fuck. Its too much effort for them to open their mind for this new technology, and that will be their mistake. But eventually they will hop on anyway, and be before the masses. But they will not be the first.

>If he is right then non-dividend paying stocks are also a waste of money.
What?

What are the odds that grandpa understands crypto?

mining = work = value

>What are the odds that grandpa understands crypto?
he doesnt have to
he understands human greed and that ultimate goal of buying crypto is having more fiat

My statement was pretty straight forward, idk what you're confused about.

Yes, because its value is strongly tied to the European economy. The more value the European economy produces, the more the Euro will be worth. Same with all the other fiats

Ignore the retard
Move along

But it is a value producing asset anonson

lmao

he's way smarter than this, don't fall for the FUD bros

he's accumulating like us

Then BTC's value is tied to the NEET economy, senpai!

that sounded better in my head

lol. just because you work doesn't mean it has value.

imagine if i spent ten years making anything from scratch. like a car. doesn't make it worth more than a corolla put i still put way more work into it than they did at the factory

buffett fudding bitcoin is old news
nothing to see here
moving forward without him

He's right, its a value storing and transferring asset. It's true value and liquidity haven't been reached yet and won't be for a long time, hence volatility and increase in value.

>Accumulating
>On an asset that has already had more than 59,500,000% ROI
I want you to realize how fucking stupid you are when you lose all your money.

>If he is right then non-dividend paying stocks are also a waste of money.
and they are if you hodl them
you buy cheap, sell high, go to the next stock
and this year we entered a phase when buying btc to own it is not the smartest decision
its much more profitable and safe to margin trade it short term and get fiat out
hodling meme is spread by people who bought it sub-$1k or even mined it for free -
they already took their initial investment out and risk nothing
everyone else can loose their profits or even their investment on single bad news (like tether scam or another ban)

It absolutely produces value.

Bitcoin doesn't produce anything but profit and loss. The same is true for any basic crypto.

Ethereum, ChainLink, Ark, BAT -- those projects and others actively produce real, quantifiable value.

You're literally contradicting yourself.
Stocks have value when you buy low and sell high, so has bitcoin.

Proof-of-work is kinda retarded anyways.
more computing power (=more energy used) -> protocol difficulty goes up
But the network itself doesn't speed up (number of tx/sec), it can't speed up by design.

Isn't that just a giant waste of resources?
I know that PoW only works that way, but still.

What value does twitter or facebook produce?

>portable
>costs nothing to hodl
>more money will continue to pour into it for the rest of your life
>cannot be haxxored -- inb4 quantum computers
>literally backed by memes

I just don't understand how this shrewd motherfucker cannot see the value.

>he must be fudding so it can dip so he can accumulate more

Spotted the Marxist.
>gtfo of Veeky Forums u commie

they are not producing value
they transfer value from buyer to seller

Marx was right.

decentralized currency...

sorry buffet, you will have to invest in chainlink if you wanna "add value" -

>portable
So is literal shit.
>costs nothing to hodl
So does literal shit.
>more money will continue to pour into it for the rest of your life
Entirely baseless assumption.
>cannot be haxxored -- inb4 quantum computers
Can be shutdown by governments or superseded by competitors.
>literally backed by memes
So is Bitbean.

Marx was a shit stain on the face of humanity.

What value does facebook create?

What value does twitter create?

People find them useful, that's the value, don't expect it to feed you or keep you warm, advanced economies have needs beyond industrial production.

Non-dividend stocks don't produce value either.

yes thats what i said

>What value does facebook create?
>What value does twitter create?
The product for both is human attention, which is then sold in the form of advertisements. Your attention is very valuable, and in both cases, YOU are the product, which they purchase through providing a service to you, and sell to companies and organizations for billions of dollars.

Holy shit

That's true. You can't value any currency, you can only price it.
Currencies only have value because people agree they do. You know this already.

High quality post user. With enough people wanting Bitcoin in places, Bitcoin starts showing up in places.

is Vitalik weed addict?
also what little laptop is he using

And bitcoin's value is to shield you from inflationary monetary policies and gateway to investing in many startups creating blockchain related products that could have great applications.

All kind of abstract, because the concept of value of boomers like Buffet is just something you can touch and feel.

This always makes me laugh.
>HE IF FUDDING!
As if he had to, he is rich beyond your imagination. He could just buy out entire bitfinex sell orders.

He's going to be eaten alive

oh boy it's another old fuck who doesn't understand technology bashing crypto even though fiat is utterly worthless in the exact same way episode

...

Like the Indian, you're gonna get wrecked

>thinks literal shit costs nothing to move or store
Uh, buddy, fecal material is a physical resource with mass and volume requiring a *place* to keep it (which costs money per square foot in rent/mortgage/insurance/utilities/etc) and/or a *means* to move it between places (which costs money per foot moved in fuel/maintenance/insurance/wages/etc).

With Bitcoin, you just need two long alphanumeric strings which can be written on a piece of paper or even memorized, which costs NOTHING.

It's accurate, though. What is the value of fiat? Nothing really. I give you 1 zimbabwean dollar. You might as well wipe your ass with it.
Does it differ from other fiat currencies? Not really, other than that people consider it to have less purchasing power than USD.

>You can't value any currency
but bitcoin is not a currency anymore
its inefficient (power hungry, miner dependable) and its volatile (you woudn't pay with something that can go 2x in a month time, and you woudn't accept something if it can loose 2x value in the same time)

What a salty no coiner boomer like just die already old as nigga

Being efficient and stable isn't a requisite to be a currency. I bring you back to the zimbabwean dollar example.

I'm sorry intellectual user for pointing out non-dividend paying stocks are practically the same as BTC.

>>literally backed by memes
>So is Bitbean.

Bitbean made me rich lmao fuck off retard

>Bitbean
>made you rich
What, do you own literally all of them? I still wouldn't call that rich...

NO i bought 1.5 million at 13 satoshi and dumped them at 400 and then put all my money into piecoin then made 20 bitcoin and then i put a bunch of money into ethd at 5k sat and dumped a bunch at like 5 dollars so now I have so many coins I don't know what to do with myself

go fuck yourself retard

>he thinks that's rich

You don't understand economics, he can't go all in, that would result to a price of $100,000+ Bitcoin. Noob!

zimbabwean dollar actually ceased being currency because it lost its efficiency and stability so not the best example
but at some point in its history it had its own purchasing power
bitcoin never had - it was always used as some kind of financial service tied to usd price

Dat deluded LARPing

>he shitposts on a board where people unironically retired in their 20s thanks to meme coin gains
>probably posts his address in beg threads

>How much money is enough?

Just a little more.
-Rockefeller

>everyone who didn't piss away their money pretending to be a day trader is larping

You should be
Why on Earth would you say something like that?

go back chasing your shitcoins poorfag