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re: Warren Buffett says he wouldn't pay $25 for all the bitcoin in the world
Posted on 5/1/22 at 4:49 am to Scruffy
Posted on 5/1/22 at 4:49 am to Scruffy
quote:
Buffett is trying to describe it as something it isn’t. Bitcoin isn’t going to “produce” anything.
No, he says he wouldn’t invest in it for that reason. He doesn’t do currency speculation either.
It’s just his investment style of focusing on targeting cheap, tangible, producers.
1
Posted on 5/1/22 at 5:14 am to rickgrimes
quote:
Warren Buffett says he wouldn't pay $25 for all the bitcoin in the world
Just driving the price down before he corners the market.
Posted on 5/1/22 at 5:30 am to rickgrimes
Buffet notoriously makes exaggerated comments.
Posted on 5/1/22 at 7:05 am to Deactived
quote:
Dude. Go do some internet searching lol
that's what I thought
None of the largest financial institutions hold crypto or any significant amount of it.
Your lying arse does know they have to disclose their holdings right?
Posted on 5/1/22 at 7:54 am to rickgrimes
He's right
Posted on 5/1/22 at 8:12 am to Jim Rockford
quote:
. It's a speculation vehicle or it's being used by shady people
This is just lazy cnn type thinking
Posted on 5/1/22 at 8:31 am to Ghost of Colby
Consumption and advertising
Posted on 5/1/22 at 9:49 am to Volvagia
He also made loads of money by shorting stocks.
He doesn't just invest in cheap reliable products, he bets on stocks to lose value
But here he's just an I'm too stupid to understand it so it's evil type
He doesn't just invest in cheap reliable products, he bets on stocks to lose value
But here he's just an I'm too stupid to understand it so it's evil type
Posted on 5/1/22 at 10:06 am to LordSaintly
quote:
If someone pays you a full bitcoin then you will absolutely GAF. You're not turning down $40K to make a point.
But that’s a fallacious argument. Nobody is going to pay you a full BTC for something unless it’s current value in US$ is the same as the value of a BTC. They’re going to pay you the equivalent after conversion?
The difference is when you get paid in US$ you know that tomorrow you can still (disregarding inflation) use that currency to buy the same thing again if you wanted to. With BTC you don’t know what the value will be tomorrow. It could be more it could be less.
The better equivalent would be to use the analogy of accepting a share in some corporation in lieu of payment. That would have the same risk factor of fluctuating.
All that said, crypto isn’t going to disappear imho. It’s become too widely accepted. It’s no longer the gimmick it once was viewed as and has more than sufficient support.
Posted on 5/1/22 at 10:12 am to rickgrimes
quote:
"In my life, I try and avoid things that are stupid, evil, and make me look bad in comparison to someone else," Munger said. "Bitcoin does all three."
Funny how he says this right after discussing buying up farmland and apartment buildings.
Posted on 5/1/22 at 10:13 am to rickgrimes
I agree with Buffett and it’s the reason I’ve never “invested” in crypto.
I’m really not even sure why anyone would accept it as a form of payment. It seems so volatile that whoever received it as payment would have to accept a lot of risk or just dump it immediately.
And it’s only an investment in the sense that you’re counting only on investor sentiment to make any money. You can’t tie it to the performance of a certain company or product that it represents
I’m really not even sure why anyone would accept it as a form of payment. It seems so volatile that whoever received it as payment would have to accept a lot of risk or just dump it immediately.
And it’s only an investment in the sense that you’re counting only on investor sentiment to make any money. You can’t tie it to the performance of a certain company or product that it represents
Posted on 5/1/22 at 10:16 am to rickgrimes
He also lies...don't buy that persona of the..old friendly grandfather ..he is a ruthless, cut-throat shark.
Posted on 5/1/22 at 10:21 am to rickgrimes
IMO, it's just a way to launder money.
Posted on 5/1/22 at 10:25 am to jamiegla1
quote:
You can’t tie it to the performance of a certain company or product that it represents
Like someone said earlier, this lack of knowledge shows we are still in the early phases lol
Posted on 5/1/22 at 10:45 am to Smeg
quote:
So, owning property is now "enslaving society"?
You don't see the potential issue with billionaires and massive corporations buying huge swaths of farmland and housing?
It's almost as if, oh I don't know, they're setting the table for having an indentured society where you'll own nothing and be happy.
Posted on 5/1/22 at 10:55 am to Deactived
(no message)
This post was edited on 5/1/22 at 11:19 am
Posted on 5/1/22 at 11:19 am to EA6B
quote:
Then educate us , as an investment other than than scarcity what are other factors that will make Bitcoin more valuable 10 years from now?
Scarcity is enough of a reason. I'm not sure why you would dismiss it. considering how fiat artificially tends to inflate. as it continues to be adopted and made mainstream the demand for it increases
You arbitrarily excluded a centrally important factor which is so misguided. Its like asking what gives the USD value other than what the market determines its worth?
But it's other value is providing an immensely secure global network anyone (that can occasionally access Internet) can participate in without the need for banks/gov permission or access.
Posted on 5/1/22 at 11:55 am to Zapps4Life
quote:
This is the same jerk that helped kill the Keystone project so his majority stake in Union Pacific could ship oil at a huge profit.
Indeed. If Warren buffet is telling me not to buy then Im going to buy. After all, he doesn't want me to be rich. He wants me to own nothing and shut up about it.
Posted on 5/1/22 at 12:18 pm to Deactived
quote:
Like someone said earlier, this lack of knowledge shows we are still in the early phases lol
Thats fair. I never really seek to learn about it bc i dont believe in it.
Question for you. Is its intended utility to be an alternate form of currency? if so and it just tracked the average value of any currency, would anyone really be going all in on crypto? I think that people are so big on it bc they see it as a way to make a lot of money. How do you make a lot of money off of currency?
Posted on 5/1/22 at 12:22 pm to Deactived
quote:
Like someone said earlier, this lack of knowledge shows we are still in the early phases lol
A bunch of Millennials made a buck off this shite - it's no different than tulip mania - did any of you read Extraordinary Popular Delusions and the Madness of Crowds? This crap has been goin on for hundreds of years. The key is you HAVE to find another sucker to buy your tulips. Some of you must not have studied very hard in business school. I've made my entire career off of other people's stupid choices, so keep at it.
This post was edited on 5/1/22 at 12:32 pm
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