So Warren Buffet sees no future in bitcoin... | Page 4 | TigerDroppings.com

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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
83697 posts

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


Agreed. Why should we put any weight on the investment opinion of one of the world's most successful investors?? That's stupid!





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Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
56923 posts

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


quote:

Financial experts out there, is this a fair assessment.


You are severely overestimating the value of bitcoin vs world currency. Severely. This isn't a threat to them at all. Not even in the next 10 years.






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gizmoflak
Georgetown Fan
Member since May 2007
9071 posts

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


So is there any idea the total $$ amount of bitcoin transactions that have occurred YTD?

This might be impossible to find out because I'd guess that >98% of bitcoin transactions are just swaps in and out of dollars






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
83697 posts

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


quote:

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.






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Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
56923 posts

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


quote:

This might be impossible to find out because I'd guess that >98% of bitcoin transactions are just swaps in and out of dollars


There you go. Which shows the impact of it as a "currency". It's a speculators dream. It isn't a viable currency.






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gizmoflak
Georgetown Fan
Member since May 2007
9071 posts

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


quote:

There you go. Which shows the impact of it as a "currency". It's a speculators dream. It isn't a viable currency.


so far, yes

If that % doesn't steadily drop, bitcoins will fade away IMO






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Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
56923 posts

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


quote:

If that % doesn't steadily drop, bitcoins will fade away IMO


Name one major retailer that is accepting bitcoin for goods and services.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
83697 posts

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


quote:

I'd guess that >98% of bitcoin transactions are just swaps in and out of dollars

That's not a "transaction" as far as using bitcoins to purchase a good or service.

I tried to determine the annual usage of btc for purchasing goods and services about a month ago when wiki first made his hilarious prediction of "1% of global GDP."

I couldn't find any consolidated estimates. The best I could do was I found an estimate on Silk Road's sales in btc and the Japanese gambling site that uses btc. The articles said those two enterprises were the two largest btc merchants. Their combine annual sales were about $25 million.

ETA: I think the name of the Jap gambling site is SatoshiDice.



This post was edited on 5/14 at 12:04 pm


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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

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


gizmo, why do you think Broke ignored my bold questions?


Also, do you think these morons actually do any research like they claim? I found transaction vs. trade volume estimates in about 5 seconds.

measuring bitcoin speculation

Trade Volume vs. Transaction Volume Ratio






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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
120830 posts

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


quote:



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.


Well I would completely disregard everything that you say on here







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Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
56923 posts

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


It would have to increase about 275,000% to reach that number.





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Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
56923 posts

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


quote:

Well I would completely disregard everything that you say on here


You should. Along with every doctor, CPA, contractor, etc. Just ignore all of those ignant fricks.

P.S. Good job dropping out of college. I'm sure you know way more than I do.



This post was edited on 5/14 at 12:17 pm


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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
17818 posts

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


quote:

Maybe you should learn to think for yourself and not depend on billionaires to mold your investment strategy.



Holy shite are you serious? Do you think you're talking to an amateur here? I've been in this industry for a minute or two, and I'm pretty fricking good at it. I had my opinion about bitcoin long before Buffett made this quote, based on my own research and experience. Go check the threads if you want proof.

quote:

You could drive yourself nuts hanging on to every word from every billionaire investor and trying to sift through all of the bullshite


I agree, but fortunately I don't hang on every word of every billionaire, I'm busy making money for me a my clients. I do however tend to listen to the wisdom of people who have accomplished more than I have, since they have something I want.






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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
120830 posts

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


quote:



You should. Along with every doctor, CPA, contractor, etc. Just ignore all of those ignant fricks.

P.S. Good job dropping out of college. I'm sure you know way more than I do.


Oh I don't know as much as you do

But I know enough about you to know that you're not really competent enough for me to listen






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
83697 posts

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


quote:

I found transaction vs. trade volume estimates in about 5 seconds.

You just confirmed your total financial ignorance.

Neither of the links you posted approximated the global purchasing of goods and services usage of bitcoin. If you think I'm wrong, then post what the btc global usage amount is using those links.

Your links are starting to be just like joshie's links: a waste of time to click on.

Major, MAJOR fail on your part.






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Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
56923 posts

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


quote:

But I know enough about you to know that you're not really competent enough for me to listen


It doesn't matter to me. I don't value your opinion. But I have a few hundred clients who value mine. That's all that matters. If you don't know more than me, why are you touting your investment expertise in a thread where you are up 27%? You got lucky. Hell, lots of people get lucky in market expansions. We make our money in declines. Don't ever read another post of mine on the money board. I don't care. There are at least a few educated people that I can carry on a discussion with. They value what I say too. Hell I may not agree with Wiki but I value discussions with him.






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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
120830 posts

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


You sure get your pussy feelings hurt in a hurry don't you?

I just don't think you're that competent.







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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
120830 posts

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


quote:

But I have a few hundred clients who value mine.

McDonald's serves a lot of hamburgers. Doesn't mean that the food is any good.

Seriously, I'm sure you're good at what you do. I just wouldn't trust everything you say as gospel without at least bouncing the ideas off of a few other people in your industry. And that goes for most people, not just you.






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Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
56923 posts

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


quote:

I just don't think you're that competent


And I just don't care. You make idiotic statements with no valid reasoning. I've seen you do it a few times. You'll grow up one day. But until that day, let the big kids talk.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
83697 posts

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


quote:

I just don't think you're that competent.

Did he lose his job and have to relocate to find another one?






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