/biz/ - Business & Finance

>>215410
I really love how laid back and humble he is.

>mfw he was right about bitcoin

I've got a big interest in cryptocurrency and even i agree with him.

Although he's really generated some butthurt with his latest comments.

>>215410
Bitcoin isn't a "mirage," you big dummy. He may have been right about a lot of things, but not this one.

>>215410
>completely stayed out of computer and internet stocks in the 90's
>he made 0% on the biggest industry boom/bust in his lifetime
>others made billions on it
>still doesn't use a computer in 2014

And you think he understands a bitcoin? Stay poor, /biz/

Because he's hardcore like that.

It's hilarious how rustled the cryptofags jimmies have gotten by what he's been saying lately. They just can't accept that he's right about it.

>>215422
>what is risk
>what is hindsight
>what is survivor bias
lern2 think

>mfw he was right about bitcoin
>he was right about bitcoin
>right about bitcoin
>bitcoin

>>215423
>some 90-year-old admitted repeatedly he never used a computer in his life and doesn't understand their utility at all
>he is still right about bitcoin because he is right about everything

You are a slave to your master's word no matter how uninformed he may be on any topic.

>>215427
>taking Buffet at his word
>"Oh look, I'm thinking!"

Keep sucking that cut merchant banker cock.

>>215436
>implying I had any confidence in bitcoin before he came out about it
>implying he's never used a computer

Keep dreaming crytpofag.

>>215442
"In December 2006 it was reported that Buffett does not carry a cell phone, does not have a computer at his desk, and drives his own automobile,[91]"

[91] http://www.rediff.com/money/2006/dec/26buffet.htm

>2006, no computer in office

http://www.cbsnews.com/news/person-to-person-warren-buffett/

WARREN BUFFETT: Not in my office. I'm working on the abacus now. And if I get that mastered we'll go to the multiplication tables.

CHARLIE ROSE: There's hope for you yet. ...The phone seems to be the principle instrument there.

WARREN BUFFETT: Yeah. It's - it - it -- it is the principle instrument, that, and -- and the pile of reading material ... it's just a question of kind of gathering facts, which come in mostly via print, and then thinking about 'em. And if -- if I can make one good decision a year, you know, we'll do OK.

CHARLIE ROSE: Well, take the IBM investment which you recently made. I mean it is said...you were reading the annual report, and you saw opportunity there to invest in a company because you saw potential.

WARREN BUFFETT: Yeah. Charlie, I'd been reading IBM's annual report, literally, every year for 50 years. And then this year...I saw something that sort a clicked in terms of adding to my-- feeling of confidence. And -- so we spent $10-plus billion. (CLEARS THROAT)

>2012, no computer
>reads reports on IBM for 50 years before buying
>an authority on new technology

Mr. Goldberg, please return to JP Morgan for further training.

>"Oh yeah, well Warren Buffett did use a computer a couple times. BITCOIN IZ KILL!"

>>215460
You don't need to understand the technology to invest in it, the numbers matter more than the details.
Keep away from the "muh new paradigm" faggotry, it rarely pans out.

>>215463
>the numbers matter more than the details

>>215463
>You don't need to understand the technology to invest in it

You don't need to know how to write an OS kernel. It would be beneficial to understand sales reports of nand memory to Apple a few months before it was rumored to debut their most innovative iPod yet (nano). There are countless examples like AMD restructuring to target the ARM server market and next gen consoles. So yes, it helps a shitload to understand the fundamentals of the business you invest in and not just "muh numbers".

>>215478
Shit4brains

>>215421
No one will use this shit as a currency, ever.

>>215478
none of that matters if the numbers don't add up in the end, idiot

stop trying to defend your worthless imaginary coins, just stop

>>215486
Care to explain? Only daytraders look at graphs 10 hours a day, and even they will sometimes take a bet on just a companies fundamentals despite "muh bad numbers". To every other kind of investor, fundamentals are key, always.

>>215489
>tfw i bought a coffee once with bitcoin
Ill see you in 5 years

>>215495
>stop trying to defend your worthless imaginary coins, just stop

Nope, rather I am attacking Buffett. To you that must be unimaginable .

>>215498
I bet that coffee was priced in real currency though, wasn't it?

It'll be delicious when the speculative bubble bursts.

>>215506
Just cause I like pissing off pic related, there goes another bullish $20million from a VC into Bitcoin.

http://www.coindesk.com/xapo-20-million-ultra-secure-bitcoin-storage/

Ok this made me lol.

>>215516

I'm not sure I get how that's supposed to piss me off.

>>215506
>bubble bursts
Here we go again.

>>215486
>>215495
>>215489
>s-shutup!
Nice arguments.

You guys mad because you missed the train?

>>215523
You and I both know the train axles haven't even been greased yet. Keep quiet, though. They get jealous around here.

tl:dr /biz/ has more envy than /fit/+/o/+/hm/

>>215411
>>mfw
I don't think you understand how this works.

>>215516
>What is speculation
The fact that a VC bought $20m of a coin he's probably never going to use just shows you why it's unsustainable.

It's not necessarily useless if someone can figure a way to stabilize the value so it can be used as a medium of exchange, but with all these VC fags trying to get to the moon it's never going to be taken seriously.

>>215543
>

Means i'm quoting the OP

>>215547
>The fact that a VC bought $20m of a coin he's probably never going to use just shows you why it's unsustainable.


Sour grapes are blind. The VC invested in a bitcoin company. They didn't buy $20million of bitcoin. Read.

>>215427
He missed a fucking revolution that goes on to this very day.

>what is a sure thing
>what is foresight
>what is a cave dweller

>>215506
>priced in real currency

And yet you trade your time for that currency because time, like bitcoin, has value. Your childlike rebuttals don't belong here.

He is a great trader and sticks to what he knows. He doesn't know IT and didn't make a cent off smart phones.
Instead of baseless conjecture let us give reasons why Cryptocurrency will continue / die.

I'm going with live because the bottom will fall out of the USD due to massive inflation in the next few years. This will create many bubbles as people look to get rid of USD. Gold will rocket, Yuan will rocket and Bitcoin will rocket.

>>215460
Warren bufet knows about nsa spying hence why he has no tech

When others get greedy, it's time to be scared.
When others get scared, it's time to be greedy.

>>215599

You don't even keep up with financial news do you?

>>215623
Not day to day but a weekly check of the big moves. Eg. http://www.theaustralian.com.au/business/latest/perth-millionaire-takes-bitcoin-company-public/story-e6frg90f-1226853355376

What news are you referring?

>>215410
>based

>>215436
You think you need to be a tech guru to understand why bitcoin will never be a viable currency?

Are you potato?

Because Benjamin Graham was his teacher.

>>215694
It will be a viable currency. Already is.

It just won't be worth $430t93740t9374t0943 USD in 2060 like everyone wants it to. It'll be worth like eighty cents.

>>215648

>believing spam

r8 my buffet long term holds

OXGN
YOD
PLUG

RISK EVERYWHERE

YOLO BITCHES

>>215718
>already is

It's too volatile right now to be a viable currency. All products and services still need to be priced in something like USD.

>>215733
I want these to be longterm holds too....
Someone with more knowledge back this up

He's so terribly slow he didn't invest in IBM until decades after he should have

He didn't make a cent off google, or apple, or any of Elon's companies. He didn't make a dime off amazon. He completely missed out on the last 15 years.

>>215500
Yeah, attack one of the most successful businessmen ever, who has lost more money in a single decision than you will ever have in your lifetime and not even been phased.

Stay mad.

>>215774
>I am blindly listening to a completely out-dated master investor who has made zero profits on tech stocks in the last, well, ever
>"HAHA YOU HAVE TINY BALLS COMPARED TO MY MASTER"

Just stay in your cowardly hole, never sticking your neck out with a truly unpopular opinion, never swimming against the tide of Buffett and his whale pod, and never getting very rich, ever.

>>215773
If you don't understand why he hasn't invested in Elon's companies, you have probably never heard of Warren Buffett before.

>>215920
What the fuck? You insult like a 40 year old accountant, nerd. Does trying to "hit back" against people calling you a moron on the internet make you feel like you're sticking it to Buffett? Hole shit, the more I think about you the more euphoric and pathetic you sound.

>>215957
>Does trying to "hit back" against people calling you a moron on the internet make you feel like you're sticking it to Buffett?

Employing 4chan prose, I painted a perfectly clear and accurate depiction of the attitude that I wished to oppose. If you don't like it then leave 4chan. We don't pull any punches on here.

The parts where I stuck it to Buffett are earlier in this thread. Click on my ID and scroll up.

>>215422

He used that time to instead make billions off of other investments.

>>215543
He's quoting the OP. How long have you been here?

Buffet was wrong

>>216123
about what?

I mean obviously he's made bad investments.
He's also made plenty of good investments.

>>216123
>Buffet was wrong
>>216135
>about what?

According to Forbes...
http://www.forbes.com/sites/ericmack/2014/03/14/warren-buffett-fundamentally-misunderstands-bitcoin/

inb4 FORBESLOL

Like I said earlier, just keep on sucking that merchant banker's cut cock.

>>215410
I think he's wrong about Bitcoin.

His age makes me tend to think my presumption is correct.

bump

>>215410
>implying investors don't worship him and hang on every word he says
>implying him thinking something is shit will cause large amounts of people to avoid it
>implying he can't sway the market just by talking

>>215422

Do you know how many people got KILLED during the .com boom of the 90s? For every "good" stock during the 90's the fucking vast majority of them were shit.

In the end Buffet's instinct that it was all too risky in the 90's was correct.

>>216156
that article is shit

The main selling point of BTC is that you can use it to transfer money, anonymously over the internet

the author argues that BTC is a commodity, like gold. not a method of payment

Buffett isn't wrong, he just said the main feature of BTC is not worth investing in to.

also
>Forbes
top kek

I think <pic related> best sums up my opinion of how people should treat putting money into Bitcoin.

>>215422
He is worth like $60 billion dollars, I don't think he regrets not taking the risk.

>>218197

that tweet is stupid

bitcoin already is acceptable

and wtf is "soon to be competitors?"

>>218280
litecoin

>>215421
Seeing this kind of honesty warms my heart

>>218280

dogecoin

zerocoin

Bitcoin is as much a mirage as fiat money, we just haven't gotten to the point yet where we've found out that that mirage of an oasis in the desert is actually just a pit of death, we'll get there someday.

I also don't understand statements that bitcoin is similar to a commodity like The bank of Britain stated, it's just as much a commodity as fiat money then.

I believe in bitcoin and decentralized cash but I think the banking cabal will end it one way or another. Maybe by creating their own centralized crypto a bit like XRP.

Anyways it is silly for Warren B to call Bitcoin a mirage, it will live or die by the amount of faith people put in it. Is it a fad or here to stay? It's in all of our hands.

>>215983
>"I WAS ONLY PRETENDING TO BE RETARDED"

Practically in verbatim.

>>215422
internet company stocks are a crap shoot. most are failures.

>>218435
If you act like a Warren Buffett's sheep's pussy on /biz/, then you're getting called out for it. I never reversed my position or hedged it in the least you word twisting merchant.

captcha: served unalepole

>>218449
>internet company stocks are a crap shoot. most are failures.

Exactly like a bitcoin company. So?

The real question: If you could buy a share of the protocols, like HTTP OR HTML, how much would they be worth?

>not understanding that protocols tend to stick around for a looooooooong while

ISHYGDDT

>>218197
>I think <pic related> best sums up my opinion of how people should treat putting money into Bitcoin.

Going off stale old info, like Warren's billion-dollar cushioned opinion, will get you nowhere.

Good (recent) Info: https://coinreport.net/mark-cuban-bitcoin-cyber-dust/

tl:dr Mark Cuban is "collecting" bitcoin and alts right, fucking, now

>>215736
Neutral party here.
Does anyone foresee bitcoins stabilizing to the extent that we can measure the price of a hamburger in them?

>>215411

I heard he still drives his old Buick that he bough in the 1990s.

>>218899
>I heard he still drives his old Buick that he bough in the 1990s.

I think he changed it.

http://autos.ca.msn.com/photos/gallery.aspx?cp-documentid=24777832&page=4

>>215410
Close to 4 trilion m0 dollars in circulation.
8 billion bitcoin value (prob lower)
It has not backing it's not insured by any credible institution.
All other currencies are
>but muh gov we can't trust it
If your at that level and you have such a faint grip on reality you're retarded
I'm not saying that bitcoin is going to fail, but without major institutional backing it is.

Buffet is really good and smart and crap but it's all on non-tech stuff.

Listen to him on non-tech, listen to someone else for your bitcoin shit.

>>219001
Most people are not good at tech. Even in the younger generation. Most people don't even pirate.

>>218808

It's like you didn't even read your own link.

>However, the American businessman doesn’t see it as a long-term digital currency.

>I’d look at it, but more as fun. It’s almost like buying and selling baseball cards.

>…No one that I’ve seen so far that’s in traditional sales that is taking Bitcoin keeps it as Bitcoin. They all translate it to dollars. And if you translate it into dollars, it’s not a currency.

He doesn't exactly seem that bullish on it's long term future as a currency. He's in "just because"

>>219246
Mark Cuban did buy bitcoins, and since it is a limited commodity, that means Mark Cuban invested in bitcoins. I never said he or anybody thought it will succeed as digital money. So your original post was wrong and outdated.

Get newer information. Info = Money

Bump

>>218921
mfw i got the same model

>>220299
>bump

This thread has reached its conclusion: Nocoiners are stuck in their old ways so hopelessly that they will listen to W. Buffett, an admitted technology illiterate who never made a dime on tech investments, as their good guide to pick the next big money maker in tech.

And nocoiners think they are in (pic related) the right.

mfw bit coin is competing with at least a hundred other currencies.

>mfw when 4chimp enjoys business

>>221859
>still getting fooled by buttcoin shills

Jesus Christ. He's the richest guy on the block. I'm sure he has a few good points. His btc comment was a fact. "Btc won't be around in 10-20 years" duh that's a fact jack.

Don't expect any Harty info from him. He's done. He already picked his two successors. I wish he would donate his wealth to the us treasury

>>222967
>His btc comment was a fact.

Do you have a reason for that, or are you just another plankton getting scared by the tide of whales and eaten for lunch?

>>218787
HTML isn't a protocol, it's a markup language

>>218322

>muh happening

>>223311
Then take that out and add FTP.

>>218787
>>223560
And FTP and HTTP are both worth absolutely nothing.

>>215554
That is one sexy book, no words.

>>215436
okay mr tech, what use does bitcoin have besides trivial online transactions and speculation?

I've never seen any other logical uses, prove me wrong if you can

>>223621
Not that anon but Namecoin has a use

>>223608
>And FTP and HTTP are both worth absolutely nothing.

Fuck, you are stupid.

>>223621
you don't own your fiat. you have full control over your bitcoin. they can't freeze your wallet like they can freeze your bank account.

>>223632
I'm not talking about altcoins, I'm talking about bitcoin. Also if you are implying that an altcoin will take over for bitcoin, the altcoin operators will have to adapt to bitcoin's hypothesized demise and it is unlikely anyways. Altcoins are pretty much backed by bitcoin.

>>223644
why will by bank account ever be frozen if I don't partake in illegal activities?

>>223621
How about a voting system? Perhaps a cheap, secure, and open voting system that anybody can freely audit would be valuable.

>>223652
enjoy having your IRA and 401k cleaned out and replaced with US gov bonds against your will

>>223643
No, you are. If they cost money, people would move to a different protocol. That's why HTTP won in the first place.

>>223665
If HTTP were to completely cease working tomorrow, how much money would be lost trying to replace it with an effective, ubiquitous protocol? That potential replacement cost is the true value of HTTP, and you think that cost is zero. You damn moron.

>>223693
If we didn't have oxygen filled air we would go extinct. I'll sell you two boxes of oxygen filled air for $1000

>>215410
Warren Buffet is a thief, a con-man, and a scammer that's been indirectly destroying the American economy.

>>225151
nice b8 m8
I think the oposite.

>>223969
What is supply/demand?