[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 28 KB, 768x431, 1509692046970.jpg [View same] [iqdb] [saucenao] [google]
4764315 No.4764315 [Reply] [Original]

https://www.forbes.com/sites/johnwasik/2017/11/06/why-buffett-sees-bitcoin-bubble/#3305208f62a8

Is he right /biz/?

>> No.4764369

What an incredibly stupid article. It's like they didn't do any research at all.

>> No.4764375

>>4764315
I doubt that old kike even knows what a bitcoin is

>> No.4764378

>>4764315
he's been calling it a bubble since the day he heard about bitcoin

>> No.4764390

>>4764369
OP here do you think Buffett is just working off outdated financial practices that are not based on the current digital age?

>> No.4764418

>>4764390
The idea that something has now value because it's not tangible, has been outdated for over 20 years now.

>> No.4764427

buffet is an old man. he has no idea whatsoever what bitcoin is or does. i don't give a fuck about what he says. he's not a know-it-all investment guru, and i hate how he acts like he is.

that said, bitcoin is in a temporary(!) bubble but since there is a constant stream of normies coming into crypto, it won't burst for a few months to come.

>> No.4764435

Of course it's a bubble. It's nothing to do with "being le out dated old man". It doesn't matter if the asset is tulips, shares, website names or digital coins. Bitcoin is an entirely speculative market and the entire trade around it is based on "I will buy this and I hope someone will buy it for even higher!" and that is what creates a bubble. There isn't any "b-b-but this is blockchain and its different!" a bubble is a bubble.

>> No.4764461

>>4764315
>everything I dont understand is a bubble
>now go vote for hillary, goy

>> No.4764514

>You can put all of the tangible gold mined on the planet in a large swimming pool. You can never do that with a cryptocurrency.
What did he mean by this?

>> No.4764584
File: 21 KB, 700x700, jDBr2RI.png [View same] [iqdb] [saucenao] [google]
4764584

>>4764514
i suppose that crypto isn't a physically feasible object. which is irrelevant but whatever.
like i mentioned before, buffet relies on old concepts and his experience in traditional markets, but that doesn't help jackshit with crypto.

this guy actually makes me angry, cause he's the reason why i can't talk about crypto in public, without people reciting him and confronting me with :

>pic related
>LMAO anon you think you're are're smarter than wareen booffet???

>> No.4764593

>>4764315
of course its a "bubble", that doesn't mean one day the bubble bursts and everything hits 0

Old people, even successful ones are fucking lost. That generation has already taken everything they can from the planet and have no need to change their opinions.

He's just using terminology he understands. Its the same way your parents called everything Nintendo - genesis, playstation, n64... everything is Nintendo. Everything that goes up or down and correlates to market trends is a "bubble".

>> No.4764599

>>4764584
Buffett didn't say that, the author of the article did.

>> No.4764612

>>4764375
>>4764461
He's not jewish

What's with this low iq reasoning of calling everyone you dislike a jew?

>> No.4764654

BTC is a bubble

Cryptocurrency in general is gonna last though

>> No.4764702

>>4764599
fair enough, skimmed across the article t b h.
my point still stands though

>> No.4764708
File: 17 KB, 498x467, 1512328340148.png [View same] [iqdb] [saucenao] [google]
4764708

How can someone be this stupid.
"It's virtual it doesn't exist! It doesn't have any value this is a bubble! It's not under government control it's a Ponzi scheme! I don't believe it!"

>> No.4764736

>>4764584
Alright but you are claiming to be smarter then Warren Buffet right now...

>> No.4764829

>>4764736

Anyone not selling when he wants them in the least as smart as him.

>> No.4764845

>There's also said to be a finite amount of Bitcoin, although we still don't know much about how it's created or its mysterious creator. That's troubling.

>Yet Buffet has a real concern. If you don't know what goes into something, meaning a lack of transparency, it can be snake oil.

Jesus fucking christ

>> No.4764868

>>4764829
Want to take another swing at that sentence champ?

>> No.4764906

Wtf i hate crypto now. I'm now a #fiatbot

>> No.4764938

>>4764612
It's just name, nigger

Something to say

>> No.4764952

>>4764736
i didn't claim i was smarter than warren buffet, i just said that he has not a clue about bitcoin nor comp. sci. and since i'm studying comp. sci. (with economics as a minor subject) i dare to say that i know more than buffet in terms of the technical stuff behind the blockchain.

but obvs. old goy knows much more about economics in the traditional form.

also see
>>4764845
for instance.
i've heard so much bullshit about crypto coming from old goy's mouth that i'm actually pissed off that he still thinks he has a say about the future evaluation of bitcoin.

>> No.4764995

>>4764952
To be fair to wazza that was merely the authors words. I see a lot of these finance guys get muh fundamentals entirely backwards though making their arguments look pathetic, they would do well just to stick to the bubble meme

>> No.4765003

>>4764736
Being rich doesn't need intelligence. Being a banker doesn't need intelligence.

>> No.4765044

The only bubble is that Bitcoin is a shitty coin compared to everything else. If Bitcoin wasn't a shitcoin the bubble would be invincible.

Its like a gambling casino where everyone walks out a winner in a never ending loop of new coins that come out.

>> No.4765068

>>4764435
Ah yes, I remember all those times I bought stock and it wasn’t solely to sell it higher

>> No.4765070

>>4764708
He is 100% correct you absolutely retarded chimpanzee. Some of us here are aware of all of that but are still making money off it knowing the dangers. Wake the fuck up and smell reality.

>> No.4765076

>>4765003

Warren Buffett actually said a high IQ isn't necessary for investing and he'd trade it for other skills if he could.

What anon probably means is: Buffett is a better investor, not necessarily a smarter person.

>> No.4765084

>>4764654
The opposite is true. Bitcoin will last but all the scam coins will crash.

>> No.4765085
File: 23 KB, 600x484, c4a.jpg [View same] [iqdb] [saucenao] [google]
4765085

>There's also said to be a finite amount of Bitcoin, although we still don't know much about how it's created or its mysterious creator. That's troubling.

>> No.4765102

>>4765068
Bitcoin isn't a stock... I hope you know the difference anon.

>> No.4765119

>>4765044
No that's bitconnect

>> No.4765268

>>4764845
Kek
He clearly doesn't understand wtf is crypto

>> No.4765370

>>4764845
>open source code
>distributed immutable blockchain that anyone can verify
>issuance of new currency and protection of users funds governed by the most fundamental laws of physics and mathematics

>This is somehow not transparent, whilst central bank issued IOUs are clearly much more dependable, despite the fact over 80% of historical currencies are now completely worthless

Buffet is such a good goy.

>> No.4765417

>bitcoin isn't a bubble
I've been holding BTC since 2012, have a fair amount of money in it, but even I can see clearly it is a bubble. Bitcoin is an outdated piece of shit. It's slow, it's expensive. The original purpose (that is, to use it as a currency) simply is not feasible.

That still doesn't mean you can't make fucking sick gains from it. Bitcoin was a revolution, it brought the blockchain and cryptocurrencies as a whole, which isn't a bubble. Bitcoin is.

>> No.4765429

>>4764390
why would we give a shit what a legacy banker thinks about bitcoin? the last real paradigm shift, of this caliber, the world saw was the discovery of petroleum. i'm sure whaling fleet owners thought petrol was a bubble too. he either doesn't understand it at all and hasn't even bothered to look into it or he's FUDing to keep the price down. which one do you think?

>> No.4765541

>>4765417

>this much cope
>the absolute state of vercoiners

>> No.4765579

Crypto and blockchain tech offers the ability to sell buy hold pretty much any financial security at a low cost high speed and without divulging huge amounts of private information.
Ever bought stocks? Yeah they want your social security bank accounts how much money is in them credit reports and your first son's foreskin.
Cryto to middle men financial types like Buffet is an existential abyss of doom.

>> No.4765730
File: 195 KB, 774x1032, bitcoin niggas.jpg [View same] [iqdb] [saucenao] [google]
4765730

>>4764514

He just wants to live out his Scrooge McDuck fantasies

>> No.4765775

>>4765070
But he is not correct. Lmao

>> No.4765788

>>4764315
>hurr durr muh gold
I can never comprehend why boomers care so much about hoarding a bunch of useless shiny rocks. BTC is the only real asset. You can actually transport it simply by memorizing a secret key, instead of having to fly that heavy load accross oceans. fuck your stupid shiny stones.

>> No.4765820
File: 31 KB, 460x258, 1512295804407.jpg [View same] [iqdb] [saucenao] [google]
4765820

>>4765076
But is he? Yes, probably on paper. If he's been investing all his life and went to school about investing in stocks and common economics etc. He knows how to trade stocks.
But if he bashes thousands and thousands of percents of gains, he is just stupid. He doesn't know about bitcoin, cryptomarkets or anything related to this.
"Infinite amount" lmao

>> No.4765834

>>4765068
The inherent value of a stock is that someone might buy it to take control of a company

>> No.4765896

>>4764435
It's utility is that others can't dictate how or when you spend it.

What is the market capitalization of freedom?

Divide that by 21 million and you have the value of a bitcoin.

>> No.4765900

>>4765788
boomers love their physical shit, it's the reason there's so much useless crap in landfills

>> No.4765931

>>4764315
He was right last week. This week, we just had a 12 hour curve a normal curve. Those last two dips may have jogged us out of the bubble.

>> No.4765958

>>4765896
the market cap of freedom is unlimited.

>> No.4765963

>>4765834
this anon invests.

>> No.4765979

>>4765896
>It's utility is that others can't dictate how or when you spend it.
The same goes for literally every other crypto - so why aren't they all at ridiculous prices? Because Bitcoin is a bubble.

>> No.4765997
File: 174 KB, 640x480, 1386332747310.jpg [View same] [iqdb] [saucenao] [google]
4765997

>Dinosaur FUD
Yawn

>> No.4766047
File: 43 KB, 441x361, 1498105281694.jpg [View same] [iqdb] [saucenao] [google]
4766047

Everytime I turn on the news and they have something on bitcoin I get scared I'm going to lose it all.

I'm afraid I won't know where to sell. I was hoping on just holding until 2020 or so and seeing where it is at...

>> No.4766061

>>4766047
>Boomers fudding
>Weak hands selling
>Iron hands buy the dip

>> No.4766096

>>4765541
I own 10x the amount of bitcoin you do, buddy. I'm not retarded though, it's a bubble. It still bought me a house tho so I'm not complaining.

>> No.4766120

>>4766061
Boomers have been really making fun of me. I should have never told my dad I owned BTC.

>it's a pyramid scheme
>it's a chain letter
>you're going to lose everything
>smart people are going to take your dumbass money because they'll push it up and then make it drop all at once

>> No.4766142

>>4765417
Doesn't matter. It's a brand name, not being sought after for actual usage, only for value storing

>> No.4766145

>>4765979
Bitcoin's network effect & security.

>> No.4766284

>>4766142
That's why I've kinda stuck with btc rather than alts, I feel like the brand is what might hold it up.

>> No.4766318
File: 12 KB, 300x300, warren-buffett-9230729-1-402.jpg [View same] [iqdb] [saucenao] [google]
4766318

> Be me
> Buffet Boy
> Has an index fund for rich people
> Lots of money poured into banks
> Poster child of US bank deposits
> Invest all my shit in SAFE banks
> "Banks are so cool my guys invest"
> "Buffet Boy we love you and you are so smart in stocks. It's not luck at all. It's not gambling! Buffet boy you are so so smart and whatever you say is fact!"
> Everyone listens to my shills
> "Hey everyone eat your own shit and you get money"
> Everyone starts eating shit because Based Buffet Boy tells them
> Money and fun contiunes

>2015

"Buffet Boy listen there is this new thing I just heard of it's called bitcoin and it's claiming to stop banks and look it's worth a bunch look"
"Thank you for telling me, but I am old and don't understand how to even get on the internet"

>Be me
>Some fake coin money is claiming to destroy my banks
>Wait a sig diddly second I can shill people
>"Hey my guys crypto is a bubble you can tell because price is a lot"
>"Oh my god thank you Buffet Boy"
> go back to office

"Thank you intern now crypto is stopped forever"
"You are an investment god Buffet Boy thank you"
> he starts to eat shit in front of me

>> No.4766375

>"these 'motorcars' will never replace the horse and buggy! Trust me, i rin the biggest horse and buggy business in the world!"

>> No.4766437

>There's also said to be a finite amount of Bitcoin, although we still don't know much about how it's created or its mysterious creator. That's troubling.

Wtf is this idiot talking about?

>Yet Buffet has a real concern. If you don't know what goes into something, meaning a lack of transparency, it can be snake oil. Here's Buffett's concern: "It doesn't make sense. This thing is not regulated. It's not under control. It's not under the supervision [of] any...United States Federal Reserve or any other central bank. I don't believe in this whole thing at all. I think it's going to implode."

LOL

>> No.4766555

>>4765417
>Bitcoin is an outdated piece of shit. It's slow, it's expensive. The original purpose (that is, to use it as a currency) simply is not feasible.

The value of Bitcoin is in its decentralization. Only a decentralized currency can beat Bitcoin.

>> No.4766926

>>4764514
That he needs to see a psychiatrist.

>> No.4767004

>>4766437
Is that seriously his argument?

>> No.4767126

>>4767004
>Is that seriously his argument?

Yeah.

>> No.4767205

>>4764736
Yeah. Apparently, he's literally a dumbass.
See >>4766437