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I think with Warren, he's obviously the definition of "Old School" and has already made his tens of billions the old-fashion investing way and company takeovers, so I'm not sure it matters what he thinks about cryptos. Obviously, he'll either be right or wrong like everyone else.
With him it's a win-win no matter what happens.
Yeah he's definitely a very smart man as well as an interesting one. I was watching some of the recent documentary on him.
One thing also some seem to forget is that early on he started investing other people's money. This is different than an individual investor.
It's similar in real estate how some just invest in real estate with their own money, but others take on investors in a syndication and are making money off their money too.
I see the financial press put out stuff like "How to invest like Warren Buffett" and it'll show his holdings like Coca Cola. Not saying that's a bad stock but it's not going to have anywhere the upside of a crypto in this market.
I agree that at some point prices will come down, but the same can be said of the stock market and real estate. The bull market will come to an end at some point and things will be negative.
This is going to be a trillion dollar market soon. I'm guessing within 1-2 months or so.
Once that happens you can bet the press is going to report on it a lot and a lot more people will take the market seriously and be putting their money in.
I could see it affecting the general stock market too with people pulling out to put in crypto.
Thing is though, all the FUD and panics stem from government and regulators.
Like they are creating it.
Nothing really going inside the actual crypto currencies, and tech that's causing it.
Yeah it's always when the government gets involved .
Crypto isn't really regulated yet but that's why the returns are so high .
I notice some of these ICOs are requiring certain things like proof of being an accredited investor and some don't allow you to invest if you live in the U.S .
The Oracle from Omaha is not too fond of the crypto. I guess not too surprising since he's pretty notorious for not investing much in tech.
The article is funny because it mentions Ripple "plunging" 13 percent and bitcoin down 8%. But how many times did they go up way more and way faster than anything in the stock market.
13% and 8% drops are nothing and it happens in the stock market all the time.
Kind of funny. Do you think Buffett's comments will have any effect or do you think that crypto or would be crypto investors don't really listen much to Buffett?
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"
"We'll never have a position in them," Buffett, chairman and CEO of Berkshire Hathaway, told CNBC's "Squawk Box" Wednesday morning. "I can say with almost certainty that they will come to a bad ending."
If those ominous words aren't enough to stress investors out, earlier this week, the popular cryptocurrency ripple plunged almost 13 percent and bitcoin shed nearly 8 percent of its value."
There is an underlying potential value to cryptocurrency; that it provides an alternative to existing currencies, with certain potential advantages.
The current valuation is clearly based on the expectation that it will continue to go up. Which of course is exactly what a functioning currency should not do. As long as cryptocurrency continues to dramatically increase in value, it is a deflationary currency which means no one will incur debts in it. Which kind of defeats the purpose of having a currency, if debtors have to pay back debts in money that's worth more than when they borrowed it.
This whole thing is as clear as day to anyone who lifts their head up from oohing and aahhing over the details of the computer programs and asks some basic questions, and who has even a passing understanding of how bubbles work. Buffett, of course, can see this.
Binance CEO says Warren Buffett doesn't understand cryptocurrency and is making a big mistake
Binance is a big crypto exchange
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Binance CEO Zhao Changpeng has said Warren Buffett “does not understand cryptocurrency” and that he is making “a big mistake.”
‘Making A Big Mistake’
In brief comments to Bloomberg TV, the Hong Kong exchange chief countered Buffett’s warnings about cryptocurrency this week, in which he forecast all would “come to a bad ending.”
“I think he knows stock investment and equity investment very well, but I do not think he understands cryptocurrency at all,” Zhao said.
Back in the early 90s old laggards didnt understand internet and dial up technology and attributed it to everything evil and how it would make private information insecure and spoil the youth and how it had all the characteristics of bubble etc. Fast forward 10 yrs, some of them lost their jobs . Blamed technology and internet for their job loss. Finally updated their resumes and in the technical skills section mentioned "can communicate via emails" but by now it was too late. In the mean while Mark Cuban made billions simply by putting radio on the internet via broadcast.com. A simple adaptive idea, nothing complex.. So one can decide if they wana look at what generation of ppl as their investment role model...sorry to say but Buffet dont have much time to HODL and the technicality behind blockchain is too complex even for some IT folks.
I am sure that Warren Buffet doesn't know everything when it comes to crypto currencies, but I fail to see how the crypto currencies world would be some kind of entropy that is always positive... I mean, do we really believe that? It seems much closer to the stock exchange market, with first people making money and the rest losing... or what am I missing here?
Back in the early 90s old laggards didnt understand internet and dial up technology and attributed it to everything evil and how it would make private information insecure and spoil the youth and how it had all the characteristics of bubble etc. Fast forward 10 yrs, some of them lost their jobs . Blamed technology and internet for their job loss. Finally updated their resumes and in the technical skills section mentioned "can communicate via emails" but by now it was too late. In the mean while Mark Cuban made billions simply by putting radio on the internet via broadcast.com. A simple adaptive idea, nothing complex.. So one can decide if they wana look at what generation of ppl as their investment role model...sorry to say but Buffet dont have much time to HODL and the technicality behind blockchain is too complex even for some IT folks.
Getting on the ground floor is usually going to give one better returns .
Like you said with Mark Cuban .
If he waited a little longer the opportunity might of been gone .
By the time the media starts recommending buying crypto it'll prob be too late
Or at least closer to the top of the market
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