So Warren Buffet sees no future in bitcoin... | TigerDroppings.com

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Bayou Self
Member since Oct 2012
2800 posts

So Warren Buffet sees no future in bitcoin...


quote:

Buffett professed to know nothing about it. “I’ll put it this way, of our $49 billion, we haven’t moved any of it to Bitcoin,” he said.

quote:

Charles Munger, vice chairman at Berkshire Hathaway said: “I have no confidence whatsoever in Bitcoin being a universal currency.”

LINK

I'm torn between trusting Wiki and Josh vs A man worth 49 billion dollars :drevilvoice:



This post was edited on 5/10 at 5:46 pm



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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
8733 posts
 Online 

re: So Warren Buffet sees no future in bitcoin...


:inbeforestatistbastard:





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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
8733 posts
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re: So Warren Buffet sees no future in bitcoin...


quote:

I'm torn between trusting Wiki and Josh vs A man worth 49 billion dollars


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.






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Lsut81
USA Fan
Member since Jun 2005
61469 posts

re: So Warren Buffet sees no future in bitcoin...


quote:

Buffett professed to know nothing about it. “I’ll put it this way, of our $49 billion, we haven’t moved any of it to Bitcoin,” he said.


But what did he say about Unicorn Farts?






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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
20371 posts

re: So Warren Buffet sees no future in bitcoin...


Warren also said his secretary pays a higher tax rate than him as if she was a mid20s single mother of two trying to rub a few pennies together. As much as I distrust bitcoins, I don't think warren is totally a straight shooter.





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League Champs
Bayou Self
Member since Oct 2012
2800 posts

re: So Warren Buffet sees no future in bitcoin...


quote:

As much as I distrust bitcoins, I don't think warren is totally a straight shooter.

Here's the thing, he can buy the entire supply of bitcoins and shelve them, just to protect his remaining 52 billion dollars if he thought it was weakening his dollar investment.






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Poodlebrain
LSU Fan
Way Right of Rex
Member since Jan 2004
14387 posts

re: So Warren Buffet sees no future in bitcoin...


quote:

I'm torn between trusting Wiki and Josh vs A man worth 49 billion dollars
But the Winklevoss brothers have millions invested in Bitcoins. Surely that counts for something?






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ItNeverRains
LSU Fan
Franklin, TN
Member since Oct 2007
5887 posts

re: So Warren Buffet sees no future in bitcoin...


quote:

Here's the thing, he can buy the entire supply of bitcoins and shelve them, just to protect his remaining 52 billion dollars if he thought it was weakening his dollar investment.


Are you deliberately trying to ruin Wiki's Thursday?






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Fat Bastard
New Orleans Saints Fan
Paradise
Member since Mar 2009
15622 posts

re: So Warren Buffet sees no future in bitcoin...


quote:

I'm torn between trusting Wiki and Josh vs A man worth 49 billion dollars :drevilvoice:












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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
8733 posts
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re: So Warren Buffet sees no future in bitcoin...


Is this the reason that Magic the Gathering went dark last night?





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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
76237 posts

re: So Warren Buffet sees no future in bitcoin...


quote:

Is this the reason that Magic the Gathering went dark last night?

Nah....I sent them an email and it crashed their server.






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Poodlebrain
LSU Fan
Way Right of Rex
Member since Jan 2004
14387 posts

re: So Warren Buffet sees no future in bitcoin...


I think it was the heavy volume of 49,896 Bitcoins traded in the last 24 hours that did it.





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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
8733 posts
 Online 

re: So Warren Buffet sees no future in bitcoin...


quote:

Nah....I sent them an email and it crashed their server.








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OnTheBrink
Alabama Fan
TN
Member since Mar 2012
3423 posts

re: So Warren Buffet sees no future in bitcoin...


The Most Important Early-Stage Investor Of The Last 10 Years Just Made A Huge Bet On Bitcoin

LINK

I do not know anything about this loon but figured I would leave this here.







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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
20371 posts

re: So Warren Buffet sees no future in bitcoin...


Bad link I think





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joshnorris14
Florida Fan
Florida
Member since Jan 2009
20604 posts

re: So Warren Buffet sees no future in bitcoin...


quote:

he can buy the entire supply of bitcoins


No he can't, you don't understand how demand works.






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OnTheBrink
Alabama Fan
TN
Member since Mar 2012
3423 posts

re: So Warren Buffet sees no future in bitcoin...


quote:

Bad link I think


It's working for me.

Fred Wilson Makes a Huge Bet on Bitcoin






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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
20371 posts

re: So Warren Buffet sees no future in bitcoin...


Not working on my iPhone





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OnTheBrink
Alabama Fan
TN
Member since Mar 2012
3423 posts

re: So Warren Buffet sees no future in bitcoin...


Well, it's on Yahoo Finance if anyone cares...





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AngryBeavers
LSU Fan
Member since Jun 2012
3136 posts

re: So Warren Buffet sees no future in bitcoin...


quote:

I'm torn between trusting Wiki and Josh vs A man worth 49 billion dollars :drevilvoice:


What if Wiki is Warren Buffet?






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