- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: So Warren Buffet sees no future in bitcoin...
Posted on 5/14/13 at 11:28 am to the LSUSaint
Posted on 5/14/13 at 11:28 am to the LSUSaint
quote:
If it were a real threat, they wouldn't acknowledge it anyway
Umm wrong, they absolutely would acknowledge it considering BRK-A is owned by some of the most powerful and influential people on Earth and Buffett has a fiduciary responsibility to them.
quote:
would demolish alot of their positions in the markets around the world.
How? You think people are gonna stop using ketchup, buying insurance, and drinking Coca cola if bitcoin becomes mainstream?
WHAT THE frick ARE YOU TALKING ABOUT?
quote:
No doubt they are watching to see if anything comes of it to hedge their bets
They may have some Mexican janitor in Omaha keeping an eye on it, but I seriously doubt they are devoting substantial resources to it.
0
Posted on 5/14/13 at 11:29 am to Poodlebrain
quote:
Why would anyone be threatened by a commodity with a total market value of approximately $1.2billion? That is just plain silly.
1% of the global GDP.
Posted on 5/14/13 at 11:35 am to Vols&Shaft83
quote:
Oh and he's worth 53.8 billion. $49 billion was Berkshire Hathaway 's 1st quarter revenue. To put that in perspective, he could buy the entire bitcoin market, 49 times, with just the profits from January, February and March of 2013. Yet he wouldn't even invest a dime in it.
THAT would be embarrassing for me if I was a bitcoin enthusiast.
All of that seems rather irrelevant to me honestly
Just because some random billionaire investor doesn't invest in a specific investment instrument, it doesn't mean that it is a bad investment.
Posted on 5/14/13 at 11:37 am to Powerman
If Bitcoin becomes a universal currency, America would be fricked on so many levels.
Posted on 5/14/13 at 11:38 am to Powerman
quote:
Just because some random billionaire investor doesn't invest in a specific investment instrument, it doesn't mean that it is a bad investment.
I agree. There are at least a dozen other things that make it a shitty play. Warren Buffet isn't needed to prove that.
Posted on 5/14/13 at 11:38 am to Broke
quote:
1% of the global GDP
how do we measure bitcoins as a % of GDP?
If we assume 1% of global GDP is $1T, that would mean 1 bitcoin (out of 21 million) would have to be valued at about $48k.
Is that about right? Or am I doing this wrong?
Posted on 5/14/13 at 11:43 am to gizmoflak
quote:Yes, very.
Or am I doing this wrong?
1% of GDP is not measuring btc's "market value" but its transactional usage as a percent of the global economy.
Posted on 5/14/13 at 11:45 am to LSURussian
Here is Wiki's post:
Which about made me choke on my own spit.
quote:
Anyway, here's my definition of success for bitcoin:
CONCRETE:
$1,000 or greater value per BTC for over 1 year
or
1% of global economy
Which about made me choke on my own spit.
Posted on 5/14/13 at 11:46 am to Powerman
quote:
Just because some random billionaire investor doesn't invest in a specific investment instrument, it doesn't mean that it is a bad investment.
Didn't say it did, but when a "random billionaire investor" says he won't put a penny in it, and another "random billionaire investor" (Munger) calls it "rat poison", I'd like to know why.
Posted on 5/14/13 at 11:47 am to LSURussian
quote:
1% of GDP is not measuring btc's "market value" but its transactional usage as a percent of the global economy.
So how many $$$ worth of bitcoins would need to be transacted to reach 1% GGDP?
Posted on 5/14/13 at 11:47 am to Broke
quote:
Which about made me choke on my own spit.
Why?
Also, how about you post the rest of my post:
quote:
CONCRETE:
$1,000 or greater value per BTC for over 1 year
or
1% of global economy
ABSTRACT:
Ushers in a new age of decentralized currency (does not have to be bitcoin, could be a subsequent cryptocurrency)
or
Effectively marginalizes government fiat currencies
The concrete points will be easy to determine if they have been met. The abstract points will likely always be the subject of debate.
What are your standards for considering bitcoin a success?
Also, put another way: Was the original Napster a success? After all, it was short lived and it did get shut down by governments. But it was disruptive enough to change an entire industry and it led to subsequent protocols, like BitTorrent, that have now been in use for over a decade and which governments haven't been able to shut down.
and please answer the bold questions
This post was edited on 5/14/13 at 11:48 am
Posted on 5/14/13 at 11:51 am to gizmoflak
Posted on 5/14/13 at 11:51 am to gizmoflak
quote:
So how many $$$ worth of bitcoins would need to be transacted to reach 1% GGDP?
710 billion
Posted on 5/14/13 at 11:51 am to Vols&Shaft83
quote:
Didn't say it did, but when a "random billionaire investor" says he won't put a penny in it, and another "random billionaire investor" (Munger) calls it "rat poison", I'd like to know why.
Maybe you should learn to think for yourself and not depend on billionaires to mold your investment strategy.
You could drive yourself nuts hanging on to every word from every billionaire investor and trying to sift through all of the bullshite
Posted on 5/14/13 at 11:52 am to LSURussian
quote:
This says the GWP (Global World Product) in 2012 was $83 trillion.
I just wiki'ed it and it said 71 trillion. Numbers above may be off with consensus of GDP.
Posted on 5/14/13 at 11:52 am to Powerman
quote:
Maybe you should learn to think for yourself and not depend on billionaires to mold your investment strategy.
What an a-hole!
Posted on 5/14/13 at 11:53 am to Broke
quote:
I just wiki'ed it and it said 71 trillion.
So what's $12 trillion among friends??
Posted on 5/14/13 at 11:54 am to LSURussian
quote:
What an a-hole!
Yeah, maybe we should not depend on teachers to mold our education/careers. Maybe we should not depend on parents to mold our morals/ethic/values. Totally disregard all of that shite.
Posted on 5/14/13 at 11:55 am to gizmoflak
quote:
Why would anyone be threatened by a commodity with a total market value of approximately $1.2billion? That is just plain silly.
quote:
Even if Warren were considering bitcoin, he wouldn't publicly volunteer that information in any event
Exactly....I am kinda shocked wi the question about it's value.
Geez!....let me explain very simply. Buffet sits there all day and analyzes the dollars value against other currencies in the world and makes adjustments when needed on his positions that are directly related to currency values. So, if a new type of currency comes along and starts to gain traction, he will pay attention to it because whatever value it holds is a direct threat to his positions in currencies that would be effected LONG term by the advance in value of another currency...at some point if Bitcoins become more relevant, they will take a position in them to protect any loses from positions in other currencies.
Financial experts out there, is this a fair assessment.
And the mere fact that his team is able to deny being threatened by Bitcoins at this time, should tell you immediately they have and are keeping on eye on it.
Posted on 5/14/13 at 11:55 am to LSURussian
quote:
So what's $12 trillion among friends??
Well if you want to count black market GDP, throw in another 25 trillion.
Page 3 of 6
Popular
Back to top
Follow TigerDroppings for LSU Football News