- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- 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: Warren Buffett says he wouldn't pay $25 for all the bitcoin in the world
Posted on 5/1/22 at 12:39 am to bad93ex
Posted on 5/1/22 at 12:39 am to bad93ex
quote:
So in your mind crypto = beanie babies.
Yep. It's only worth something if some other sucker comes along after you. You crypto people are such morons.
Let's see - my assets
Home - I live in it
Truck - I use it for transportation
Power tools - I use them to fix things
Farmland - they grow food that I sell
Stocks - they sell things people need and then send me money for owning shares
My business - my clients pay me money to do things for them
All of these things are worth more to me than some stupid fricking NFT or some fake money and no matter what happens they will continue to provide value.
If I end up getting paid in Bitcoin - IDGAF - but I doubt that will ever happen. Buffett is saying real assets are real assets - it doesn't matter to him. I'm getting paid regardless - y'all can gamble all you want. Hell, just head to the casino.
This post was edited on 5/1/22 at 12:51 am
4
Posted on 5/1/22 at 12:44 am to cable
quote:
Yep. It's only worth something if some other sucker comes along after you. You crypto people are such morons.
I have only put "fun money" towards crypto and utilized things that I already own for mining. You only invest what you're willing to lose and the rug could be pulled out from underneath me at a moments notice but we've also seen stocks get zeroed out as well in short order.
Posted on 5/1/22 at 12:48 am to cable
"Bitcoin Bros" and "NFT homies" unite 
Posted on 5/1/22 at 12:51 am to ZIGG
quote:
"Bitcoin Bros" and "NFT homies" unite
shite, does that automatically make me shorter for having both?
Posted on 5/1/22 at 12:54 am to bad93ex
quote:
shite, does that automatically make me shorter for having both?
yes, it actually does.
Posted on 5/1/22 at 12:55 am to ZIGG
quote:
yes, it actually does.
Damn, I'll have to start wearing my Air Maxs and Yeezys again
Posted on 5/1/22 at 1:05 am to fallguy_1978
quote:
Stock market? I've seen 50% haircuts there too. There is no such thing as a safe place for your money. We are all forced to speculate
There are usually tangible reasons to speculate in a stock, demand for. a companies products are expected to rise, a company is expected to patent a new process, a company is expected to land s large government contract. What factors are going to occur in the future of Bitcoin that would make a person want to invest in it?
Posted on 5/1/22 at 1:10 am to EA6B
quote:
What factors are going to occur in the future of Bitcoin that would make a person want to invest in it?
There is a finite amount of them and mining for them is becoming exponentially more difficult.
Posted on 5/1/22 at 1:18 am to bad93ex
quote:
There is a finite amount of them and mining for them is becoming exponentially more difficult.
There's a finite amount of my piss too - you want some?
Posted on 5/1/22 at 1:27 am to cable
quote:
There's a finite amount of my piss too - you want some?
If you don't like crypto then don't buy any of it.
Posted on 5/1/22 at 1:38 am to cable
quote:
Yep. It's only worth something if some other sucker comes along after you. You crypto people are such morons.
People with strong opinions about shite they don’t know anything about are hilarious.
A wise man would simply say he’s sticking to what he knows. Which is perfectly fine.
Posted on 5/1/22 at 1:42 am to EA6B
quote:
What factors are going to occur in the future of Bitcoin that would make a person want to invest in it?
the Bitcoin network is the product you’d be investing in and the characteristics of the network relative to the macroeconomic landscape would provide reasons for why this network would be more or less desirable to use for the individual.
These network characteristics include the fact that the Bitcoin network is in many ways the most secure network humanity has ever created due to its immense hash rate and the lack of a demonstration of how one could defraud the network’s consensus mechanisms. It facilitates peer to peer transactions without the need of a trusted intermediary to grant permission to you, which could prove useful in avoiding things like remittance fees when moving funds across borders or a avoiding capital controls imposed by hostile governments. It utilizes tokens for which their is a finite supply and therefore has deflationary characteristics and also giving birth to the “digital gold” analogy which is why people see it as a useful vehicle long term versus fiat currencies, as fiat currencies have a tendency to trend towards debasement historically.
Posted on 5/1/22 at 1:56 am to cable
quote:
And the fools that own it are the ones trying to talk other people into buying it,
I don't care if you don't buy it. At all.
A currency holds value because people believe it holds value. That's how U.S. currency works.
quote:
It's a classic house of cards/MLM kind of scam.
It has major institutional adoption and it's getting larger each day.
quote:
It will be worth NOTHING in 10 years.
People have been saying this for well over a decade and get proven wrong every time.
But, like I said, don't buy it. I'm not trying to convince you otherwise.
Posted on 5/1/22 at 2:09 am to cable
quote:
If I end up getting paid in Bitcoin - IDGAF
If someone pays you a full bitcoin then you will absolutely GAF. You're not turning down $40K to make a point.
Posted on 5/1/22 at 2:36 am to Scruffy
quote:
Technically, that’s all money.
It exists and functions solely because we accept it as a concept.
The US dollar has value because of what people deem it’s worth to be, not because it produces something.
Buffett is trying to describe it as something it isn’t. Bitcoin isn’t going to “produce” anything.
Unless you're trading in currencies, most people are using dollars as a means of exchange to purchase something else of value or are invested in financial institutions which in turn invest in the production of tangible goods and services. Almost nobody is using cryptocurrency for that. It's a speculation vehicle or it's being used by shady people and entities to avoid scrutiny of their financial activities.
Posted on 5/1/22 at 3:25 am to Ancient Astronaut
So do I......that b.s. is going to backfire in the worst way. It's a bigger hustle then Wall Street
Posted on 5/1/22 at 3:41 am to NativeLouisianaian
quote:
So do I......that b.s. is going to backfire in the worst way. It's a bigger hustle then Wall Street
Again, people have been saying this for years and this hasn't happened. There are no signs of it slowing down, especially with all of the institutional adoption.
With due respect to Warren Buffet, he's a 91 year old man speaking from a different era.
Posted on 5/1/22 at 3:48 am to LordSaintly
Shitcoin is the greatest ponzi/pyramid scheme of all time. Also, those dudes look like con artist pricks.
Posted on 5/1/22 at 4:34 am to Kreese
Everyone invested in crypto should use this thread as proof that we are still super EARLY.
Golbalists like Buffett say globalist things. Conservatives like 95% of this board should support Bitcoin because it keeps money out of the cental banks' hands.
Golbalists like Buffett say globalist things. Conservatives like 95% of this board should support Bitcoin because it keeps money out of the cental banks' hands.
Page 7 of 13
Popular
Back to top
Follow TigerDroppings for LSU Football News