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re: So Warren Buffet sees no future in bitcoin...
Posted on 5/14/13 at 11:35 am to Vols&Shaft83
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.
4
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 11:46 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 12:39 pm to Powerman
quote:Why don't you give that same advice to those who are claiming that Bitcoins are a great investment because some investment capital firm is putting $5 million into a Bitcoin exchange start-up? Why is Union Square Ventures' investment in an outfit that treats Bitcoins as a commodity more relevant than the explanation of Berkshire-Hathaway why they are not investing in Bitcoins?
Just because some random billionaire investor doesn't invest in a specific investment instrument, it doesn't mean that it is a bad investment.
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