Investing

Irrelevant old buffett calling end of cryptos

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  • Feb 26th, 2018 10:31 pm
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[OP]
Banned
Aug 18, 2017
48 posts
14 upvotes

Irrelevant old buffett calling end of cryptos

Ha ha. This old guy doesn't knownwhat he is talking about. If he bought bitcoin when it was for pennies, he would be a trillionaire. Bitcoin is coming in waves and is going to make fiat money irrelevant. I suspect in 10 years, we will be using fiat to fuel our fireplaces.

I had a good laugh watching this. Bitcoin to the moon!

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Apr 4, 2001
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starbucksguy wrote: Ha ha. This old guy doesn't knownwhat he is talking about. If he bought bitcoin when it was for pennies, he would be a trillionaire. Bitcoin is coming in waves and is going to make fiat money irrelevant. I suspect in 10 years, we will be using fiat to fuel our fireplaces.

I had a good laugh watching this. Bitcoin to the moon!
Well, he didn't make his wealth investing in things that could theoretically have value if society decided to completely change its ways. He made it the old-fashioned way: by analyzing the fundamentals and looking for long-term plays with under-valued companies based on their market cap vs. balance sheets. Back in the day, investing did used to be about investing in companies with a solid business plan and not about scraping news feeds for today's sentiment to try and make a quick flip :)

One day, someone may invent a cryptocurrency that has merit. It's just not here yet. The fact that Bitcoin has forced scarcity doesn't make it valuable unless people have confidence in its value.

Consider this: nobody obligated to take money laundering seriously can work with clients that deal in Bitcoin. This is perhaps the majority of banks in the world, not to mention governments, given that there is international co-operation on issues like that.
[OP]
Banned
Aug 18, 2017
48 posts
14 upvotes
mbg wrote: Well, he didn't make his wealth investing in things that could theoretically have value if society decided to completely change its ways. He made it the old-fashioned way: by analyzing the fundamentals and looking for long-term plays with under-valued companies based on their market cap vs. balance sheets. Back in the day, investing did used to be about investing in companies with a solid business plan and not about scraping news feeds for today's sentiment to try and make a quick flip :)

One day, someone may invent a cryptocurrency that has merit. It's just not here yet. The fact that Bitcoin has forced scarcity doesn't make it valuable unless people have confidence in its value.

Consider this: nobody obligated to take money laundering seriously can work with clients that deal in Bitcoin. This is perhaps the majority of banks in the world, not to mention governments, given that there is international co-operation on issues like that.
You are already seeing governments switching to bitcoin including Venezuela. Bitcoin is taking over
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Apr 4, 2001
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starbucksguy wrote: You are already seeing governments switching to bitcoin including Venezuela. Bitcoin is taking over
OK. This is a troll post. I get it.
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mbg wrote: OK. This is a troll post. I get it.
Oh cool thank you as I almost went googling for it.. lol
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starbucksguy wrote: Ha ha. This old guy doesn't knownwhat he is talking about. If he bought bitcoin when it was for pennies, he would be a trillionaire. Bitcoin is coming in waves and is going to make fiat money irrelevant. I suspect in 10 years, we will be using fiat to fuel our fireplaces.

I had a good laugh watching this. Bitcoin to the moon!

They called him irrelevant when he refused to buy the dotcom hype. He turned out right. They called him crazy when he bet a million dollars that a simple index could beat the average of a bunch of hedge funds hand picked by the other side of the bet. They thought he was nuts to make that bet. He won.

The guy is an absolute investing superstar who has blown every investing track record out of the water and would still be the richest man on earth he he hadn't already given away tens of billions to Bill & Melinda Gates Foundation. He has now done this for 60 years. You aren't even a fraction of a penny rounding error on his fortune nor do you have a public track record on anything to do with investing.

So here you go mouthing off well after the fact about Bitcoin's rise. How convenient. Hmmm, anyone can do that.

So, let's see, um, who is the investing genius? It sure ain't you!

The only laugh is reading your post. You need to learn the difference between gambling and investing but considering your post I think you are a lost cause.
Last edited by eonibm on Feb 11th, 2018 11:27 am, edited 1 time in total.
Deal Addict
Jan 27, 2016
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You are a joke. Ridiculing a man who has made billions on the markets. Remember how to invest never changes, learn to read financials and not buy into hype. That’s how you last as long as he did,
Company fundamentals never change.

If you think in the near future Cryptos will take over some of the world biggest currencies, than your a lost cause.

But sure, keep making fun of a man who has more money lost in his couch than you do in your bank account.
starbucksguy wrote: Ha ha. This old guy doesn't knownwhat he is talking about. If he bought bitcoin when it was for pennies, he would be a trillionaire. Bitcoin is coming in waves and is going to make fiat money irrelevant. I suspect in 10 years, we will be using fiat to fuel our fireplaces.

I had a good laugh watching this. Bitcoin to the moon!

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May 5, 2008
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When is buffet buying into weed?
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Feb 26, 2017
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airmail wrote: When is buffet buying into weed?
Are the weed stocks listed in Venezuela?
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starbucksguy wrote: https://news.bitcoin.com/venezuela-rele ... llion-ico/

it's coming. Fiat is dying.

How do you think the US will buy oil from venezuela? The US will be forced to buy cryptos in order to pay for oil. Eventually, the USD will be converted to bitcoin
I guess you don't understand bargaining power or US oil production facts and figures. Let me enlighten you so you don't make embarrassing posts any more.

US only imports 22% of it's oil now and it's trending lower. It is expected to hit zero within the next 10 years. Less than 6% of oil imports comes from Venezuela. Who has the bargaining power? It sure is not economically starved Venezuela who needs very shekel they can get. So, if the US says take dollars or stuff your oil who do you think is going to cave? Hint: It ain't the USA.

USA 'forced' to use crypto's. LMAO! You're hilarious! The only thing that is dying is your commentary.
Jr. Member
Mar 1, 2011
167 posts
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Op, read up on dunning kruger and relax on the koolaid.

Usa never bought oil from Venezuela with bolivar. That's why oil is priced in usd.

Mind blown that people are this stupid. Stupid.
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Jan 27, 2016
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Seems like the OP bought bitcoin at 20k a coin and is trying to justify why he or she did it.
officerjimlahey31 wrote: Op, read up on dunning kruger and relax on the koolaid.

Usa never bought oil from Venezuela with bolivar. That's why oil is priced in usd.

Mind blown that people are this stupid. Stupid.
[OP]
Banned
Aug 18, 2017
48 posts
14 upvotes
eonibm wrote: They called him irrelevant when he refused to buy the dotcom hype. He turned out right. They called him crazy when he bet a million dollars that a simple index could beat the average of a bunch of hedge funds hand picked by the other side of the bet. They thought he was nuts to make that bet. He won.

The guy is an absolute investing superstar who has blown every investing track record out of the water and would still be the richest man on earth he he hadn't already given away tens of billions to Bill & Melinda Gates Foundation. He has now down this for 60 years. You aren't even a fraction of a penny rounding error on his fortune nor do you have a public track record on anything to do with investing.

So here you go mouthing off well after the fact about Bitcoin's rise. How convenient. Hmmm, anyone can do that.

So, let's see, um, who is the investing genius? It sure ain't you!

The only laugh is reading your post. You need to learn the difference between gambling and investing but considering your post I think you are a lost cause.
Buffett doesn't understand blockchain and cryptos. The guy doesn't understand technology. If he invested in google and amazon, he would be wealthy but because he is technologically phobic, he will miss out on cryptos.
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Jan 27, 2016
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Well your obviously smarter than Everyone here, so you should sell all your assets and go all in cryptos.
Jr. Member
Mar 1, 2011
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starbucksguy wrote: Buffett doesn't understand blockchain and cryptos. The guy doesn't understand technology. If he invested in google and amazon, he would be wealthy but because he is technologically phobic, he will miss out on cryptos.

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Feb 4, 2015
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Canada, Eh!!
I must have missed your name on the list... where you one or two rankings higher then Buffett on richest people list?

Or maybe just a wee bit lower on list then Buffett?
.......
July 13, 2017 to October 25, 2018: BOC raised rates 5 times and MCAP raised its prime rate next day each time.

2020: BOC dropped rates 3 times and MCAP waited and waited to drop its prime rate to include all 3 drops.
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starbucksguy wrote: Buffett doesn't understand blockchain and cryptos. The guy doesn't understand technology. If he invested in google and amazon, he would be wealthy but because he is technologically phobic, he will miss out on cryptos.
Buffett is the 3rd wealthiest person in the world, with a networth of US$ 91 Billion as of January 2018. He's an investor, not a speculator, and it's exactly because he admitted missing out on the technology sector, that is impressive his ability to grow wealth without resorting to FANG stocks or crypto.

Crypto is a great technology, but only time will tell if it's a good investment. I hold different crypto coins, but I'm fully aware that these are speculative assets, too new, and therefore, they can potentially go to zero (and I'm ok with it). An investor, however, wlll never be ok with their assets going to zero, because investing is not speculating. When I invest, I expect and positive return. When I speculate, not necessarily.

Gold, like crypto, had a logic behind to why it's worth more and more. Time showed that gold has a lot of excellent uses, but it's not a good investment. Crypto has a lot of good uses, and since it's new, only time will tell if it's good as an investment. Since it's completely unknown and demand fuels price today, it's a speculative asset. Different than a business that grows earnings and cash flow - that will always be worth more and more as long as it keeps doing that. No unknowns.

Considering how one should have a diversified portfolio of different asset classes, crypto included, Buffett is very well relevant in ensuring that his methods, which are well documented and reflect Graham, Fisher and Munger combined, will continue to grow many people's wealth, regardless if crypto pans out to be a good investment. So there's always a thing or two that we all can learn from him.


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Oct 22, 2004
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I like crypto and am invested in it, but anyone who thinks that Bitcoin is going to take over the world is very much in denial. It has some major problems (fees, transaction time), plus lets face it, the world is never going to be ready to handle 100% of their own security, mess around with private keys and keep them safe, etc.

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