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57878952 No.57878952 [Reply] [Original]

>if you were to offer me all the farmland in the world, i'd take it, because it produces crops, and i could always sell it to someone
>if you were to offer me all the apartments in the world, i would take it, because they produce rent and people always need a place to stay
>if you were to offer me all the bitcoins in the world, i wouldnt take it, because who would want it?

Well, biz? How do you respond to Warren?

>> No.57879008

Bitcoin doesn’t have a monopoly on money. Farmland has a monopoly on producing food. People need food, they don’t need Bitcoin. This doesn’t seem that complicated

>> No.57879013

By spitting on him.

>> No.57879028

>>57878952
"I'd want it."

>> No.57879032

>>57879008
The government can easily seize your farmland. The government will have a much harder time seizing my private keys.

>> No.57879043
File: 33 KB, 500x645, morpheus-neo.jpg [View same] [iqdb] [saucenao] [google]
57879043

>>57878952
He invested $1B in some shithole bank that enables crypto lending.

>> No.57879063

one person owning all the bitcoins would make them worthless
the same would apply to money

>> No.57879075

>>57879032
Really? How many times FBI has traced those who got crypto for ransomware attacks and even recovered most of the payment?

>> No.57879083

>>57879032
>da gubmant will take thing away

>> No.57879119

>>57879032
A small thirdie country might not be able to
But the US government will take your keys if they want to

>> No.57879320

What Buffet fails to see is the larger picture. Money is a human abstraction for value that has taken many different forms over the course of history. In our current timeline, the fiat dollar is the current form of money, and at the foundation of the current financial system are long duration treasuries. Due to the exponential rise in US debt and falling GDP, this foundation is rapidly eroding. The world now desperately needs an alternative store of value. So what would this alternative be?

>> No.57879346

>>57879083
you missed a spot on their boots, lickytung

>> No.57879361

>>57878952
>if you were to offer me all the winning lotto tickets in the world, i wouldn't take it, because who would want it?

>> No.57879500

>>57878952
bitcoin has only a value because its distributed.
when 1 person would hold all coins it would be worthless.

>> No.57879615
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57879615

>>57878952
Everything I know about economics tells me that Bitcoin (and every other cryptocurrency except maybe Monero) is worthless, nothing more than a speculative bubble, and yet it keeps coming back time after time. Maybe I'm right and it's just a really long-lasting ponzi scheme that will crash to its intrinsic value of almost zero at some point, or maybe I'm wrong and Bitcoin will become the dominant global currency and the network will continue to run for hundreds of years. Time will tell, but regardless, I won't be touching it. I'll watch with interest from the sidelines.

>> No.57879782
File: 52 KB, 512x512, 2342352352.png [View same] [iqdb] [saucenao] [google]
57879782

>>57879320
>Warren Buffet doesnt understand money

>> No.57879958
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57879958

Gee Warren what's your ROI the last twenty years? How're dem picks doing?

>> No.57880020

>>57879782
This but unironically

Dumb Boomer actually thinks fiat has value

>> No.57880063

>>57880020
>values Bitcoin in fiat
>claims fait has no value

>> No.57880131

>>57879075
Yes, the FBI is unironically one of the largest holder of Bitcoin at the moment, because they just love seizing the stuff.
They keep auctioning the stuff away, but more lands in their wallets faster than they're getting rid of it, which probably makes them feel really bad.

>> No.57881051
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57881051

>>57878952
He doesn't understand what bitcoin is because he's old and fuds it constantly because he missed out. Just another fat old person sitting on billions of dollars, doing nothing. Berkshire Hathaway is a pedophile collective.

>> No.57881476

>>57879782
Right, he doesn't understand money but he knows how to increase his supply of fiat dollars. If he did understand money, he wouldn't be holding billions of dollars in cash for over a decade.

>> No.57881501

>>57881051
Berkshire Hathaway will eventually buy bitcoin, because they will have too.

>> No.57882785

>>57879032
>The government will have a much harder time seizing my private keys.
A wrench attack is cheap and easy.

>> No.57884174

>>57879032
usa and bulgaria literally have 500k seized bitcoins between them

>> No.57884188

>>57879782
nobody understand money. its literally whatever people believe it is, which is usually some bullshit/ thats also why bitcoin swings like 70% down every cycle and cant decide if its an an antifiat asset or payment system. nobody knows wtf it is

>> No.57884197

>>57879032
The government can literally seize th internet at the l1 isp level, block miners, and fork btc.

>> No.57884209

>>57879320
The foundation of the USD is the us army

>> No.57884233

>tfw Warren Buffett knows admittedly nothing about BTC but already grasped it has no use-case before OP
>thus knows more than a dude who spends his free time shitposting on a crypto message board
actually pretty wild how good he is

>> No.57885225

>>57884197
It can also seize all of the land, crops, buildings, gold and money. What is your point?

>> No.57885253

>>57878952
Would you take all the cock in the world, Warren? Would you take all the cock up your ass? Because who would want that, Warren? You?

>> No.57885254

>>57884209
Lol, the army won't prevent it from hyperinflating.

>> No.57885263

>>57885254
You'll accept your USD and be happy, and you'll not use any alternative form of currency

>> No.57885297

>>57885225
>What is your point?
That government backed assets are the only one you can trust.

>> No.57885300

>>57885254
it might, although indirectly. soldiers and the mic get paid in us dollars too

>> No.57885322

>>57885300
It's possible to pay soldiers directly in goods and real state, a house and a car every 3 - 4 years, as much good food and alcohol as you can consume... is a pretty nice and non-inflationary wage.

>> No.57885332
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57885332

>>57885297
>after realising that the government can basically seize anything at any time
>decides the govt is trustworthy

>> No.57885345

>>57885332
No bro, I'll instead decide to fight the state head on, with the power of internet memecoins.

>> No.57885380
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57885380

>>57885345
>yes.jpeg

>> No.57885389

>>57885380
>Bitcoin? Son, can you see private Brown and Carter there? They'll put you on el paredon and execute you for breaking martial law if you say another word.

>> No.57885402

>>57884188
>literally whatever people believe it is
This. Boomers really struggle with this idea for some reason. Anybody who still clings to outdated notions like fundamentals or intrinsic value is just out of touch, desperately wanting the world to make sense and getting btfo time and again.

>> No.57885453

>>57878952
I wonder if he'll admit to his errors after BTC flipped Bershire's marketcap. Could happen this cycle.

>> No.57885620

>>57878952
>>57885453
https://www.nasdaq.com/articles/if-you-invested-$1000-in-bitcoin-when-warren-buffett-called-it-rat-poison-squared-heres-0

>> No.57885681

>>57878952
Mr. Buffet, what point are you even trying to make here?
That you don't want something unless it produces something of physical value? Then your statement applies to fiat, non-controlling amounts of stock, and most gold as well.
Is it just a drawn-out way to say, "Bitcoin does nothing?" That's just not true, Mr. Buffet, and you would know that with even a minimal amount of research. Bitcoin as an asset has a service and several unique characteristics built into it. And again, you could apply that same logic to fiat, non-controlling amounts of stock, and most gold as well.
Mr. Buffet what point are you trying to make? I respect what you've done but I think you're just dribbling here.

>> No.57885712

>>57885681
Meanwhile Berkshire invested in South American small banks dealing mainly with crypto. Bunch of either hypocrites or straight up fearful liars.

>> No.57885744

>>57878952
I mean if I had the option the borrow small country GDP-sized sums for a rate that's lower than what US Government gets and use it to marginally outperform S&P500, I probably wouldn't bother with leveraging to the tits on internet meme money either.

>> No.57885804

The old guy made his first big M with coca cola when it rocketed on the DOW back in the days. Just like Bitcoin in 2018 or NVDA in 2023.
Warren is the byproduct of a casino market and he benefits from the survivor bias.
You can google "Millionnaire city from coca-cola US" : back in the days everyone was buying the stockw it made some people righ & wealthy. Were people really smarter ? Or is it some recency bias by an oldfart ?
There's no wisdom to get from a average / smart / lucky, leveraged "investor".
He was there at the right time, it doesn't mean anything.