Your daily reminder that Warren Buffet thinks bitcoin has no

>>2184699
its not bubble in long term tho

>>2184699
Bitcoin really doesn't have a future though. It's fucking shit. Fuck Bitcoin.

>>2184699
jfl at thinking the dotcom bust was the end of internet industry. the big boys survived it and eventually regrow to exponentially higher values than they were at even during the peak of the bubble. there will be a cryptocrash and bitcoin's value will plummet, but then it will rise again to higher than ever before.

>>2184699
It's not the same thing, retard. In the dot com bubble, people were investing in companies. We are investing in a store of value.

>>2184740
Take a look at Cisco's stock which never recovered.

>>2184716
what is the intrinsic value of bitcoins that can't be done any other way?

>>2184699
>Warren Buffet thinks bitcoin has no future
Good to know.
I've made tons of money doing the opposite of what he says.

Cuz Buffet is a fucking old fuck who already made all the money in the world he's blinded by it you BUFFOOON

warren buffet is a dinosaur

>>2184759
Their rise was far faster and less sustainable than BTC's while holding far less of a market dominance.

File: tmp_2412-1494605715331402750335.jpg (69KB, 640x640px) Image search: [Google]

69KB, 640x640px

>>2184699
1
>If normies don't understand yet, the bubble hasn't even started
2
>bitcoin is decentralized. Satoshi can't just edit his balance as he pleases
3
>It will be worth more because when normies get in, the miner / user ratio will be worse. This means a lower supply, higher demand.
4
>implying anything that rises in price is in a bubble

I imagine buying out the financial institution that handles your money gives benefits that make anything crypto can do pale in comparison.

Did anyone watch the video? He just said it was a fast money order. Do you know how much money orders cost right now?
Western Union is fucked and no one sees potential in that?

>>2184905
ive been seeing fucking facebook posts with sensationalist headlines im fucking scared

>>2185101
Banks will adjust to that new technology. They will create something exactly like that, with the added security. Bank transfers take time now because they assess risk before sending the money. BTC is fast but highly risky.

>caring about some old cunt who is probably too bitter to understand what this technology even means

>>2185476
blockchain is revolutionary yes, like internet was.
The real game changer here is the blockchain, not bitcoin.

File: 1420661819898.jpg (22KB, 398x500px) Image search: [Google]

22KB, 398x500px

>>2185476
>Warren Buffet
>bitter
Yeah, he's probably real depressed.

>>2185493
>>2185476
also the scam is to make people think bitcoin = blockchain.
During the dot com bubble, pets.com or theglobe.com were valued like crazy (840mio market cap for that site). What was the argument behind that frenetic mania ? "Internet is revolutionary and will be a game changer".
They were right, internet was a game changer, not those fucking websites.
Same now with bitcoins and the blockchain.

>>2185493
True. Bitcoin is like AOL. Was originally #1 but was quickly replaced by better products. Don't get emotionally invested in a specific coin.

>>2184699
Warren Buffet has a different investing style. He is old fashioned investing style is to buy stocks where the company value exceeds what the price is currently at. I think its an incredibly good way to invest, and has earned him a ton.

This being said, he said bitcoin doesn't have a future when it was like a few hundred bucks. And now we are at $3000. I think he either can't accept being wrong about something, or, more likely, he doesn't understand the impact of bitcoin on countries with economic failure and what bitcoin can provide.

I respect Buffet but come on, he himself said he doesn't know shit about technology

>>2184699
Buffet is a relic of the 1950s.

If he started again with $100,000 dollars right now he wouldn't make shit.

>>2185530
so who will be google in all of this?

>>2185607
>If he started again with $100,000 dollars right now he wouldn't make shit
Those grapes were probably sour anyway.

>>2185530
The flaw in this autistic line of thinking is that being a "better product" or "more tech" makes something a better store of value.

>>2185624
Google of all this could be bitcoin or etherium (if they adapt, unlikely), could be a yet unknown altcoin, or could not exist yet. Could also end up being a balkanized coinworld. Who knows.

I don't know about any long term future but it certainly had one back in 2014.

>>2185476

>People on /biz/ are dismissing the advice of perhaps the most successful investor ever.

Tiem to cash out. bye bois.

Actually serious.

>>2185662
couldn't be balkanised, there has to be a reserve currency like BTC is now. without a reserve currency you're basically just bartering, it's not even currency at that point.

File: buffett_crypto_eth.jpg (69KB, 791x508px) Image search: [Google]

69KB, 791x508px

>>2184699
>Your daily reminder that Warren Buffet thinks bitcoin has no future

That's right, didn't you know Warren Buffett and Charlie Munger secretly invested to Ethereum, NEM and DASH, all of which have superior tech?

>>2184699

So. U r sayn I would be stupid to buy facebook shares back in 2010 ?

>>2184699
It is open source you faggot

It's very logical to not believe in Bitcoin, because you invest in an easily copyable technology with a market value driven on hype.
While warren buffet invests in assets. Things that derive their value from their ability to produce wealth.

If you want quick gains then cryptocoins can be very useful. But he prefers stocks as they basically print coins.

>>2186591
Facebook and crypto are not the same thing.
Crypto will never pay you a dividend. Crypto doesn't have revenue. Crypto doesn't expand and contract with business cycles.
Buying/holding crypto is very akin to buying/holding gold.

>>2185897
this isn't stocks

>>2188169

?

>>2184760
What's the intrinsic value of gold?

>>2188397

Store of value and means of exchange + artisanal uses for the entirety of human civilisation.

Buffet didn't invest in Amazon either

>>2188397
it doesn't really have any intrinsic value now. Bitcoin has the potential to become gold 2.0.

>>2188397
Good conductor

>>2184699
So Buffet lost out on mad gains from Amazon, Ebay, Cisco and many others? Ok then. Good to know.

>Warren somebody...
ok grandpa

>>2185897
pls no