Warren Buffett gives his most expansive explanation for why he doesn’t believe in bitcoin

Discussion in 'Crypto Assets' started by themickey, Apr 30, 2022.

  1. I guess you didn't understand sarcasm.

    But to educate you, the rest of us all know it was Hal Finney. But since he died in 2014, it is pretty much certain you won't ever see those Satoshi coins move. This is one of those rare cases, where someone really did take their riches to the grave with them.

    Now, maybe you are one of those rare people who looks for someone to sell a bridge to them, reads the National Enquirerer regarding Elvis sightings on the moon, or follows the theory that Satoshi for (reasons), is really alive and well and just sitting on his billions and hasn't cashed any out for well over a decade simply because he doesn't feel like it.
     
    #31     May 1, 2022
  2. Trader Curt

    Trader Curt

    Yes but have you ever heard of the Whale Shark?




    [​IMG]
     
    #32     May 1, 2022
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  3. NoahA

    NoahA

    I'm not that well informed either to be honest. It seems like there are many addresses that own more than a thousand coins and the majority of coins I think are held by these huge addresses. But at the same time I also read that it is the least concentrated when compared to other assets like gold which the central banks have the majority of apparently.

    It is very true that a big whale can easily dump the price on anyone exchange since there are a ton of exchanges but of course there will be algos that well bring this arbitrage opportunity to an acceptable level I think.

    Going forward though I think Bitcoin is the best chance we have for creating a world where the system is fair for most. If Bitcoin falls apart and the power goes back to the governments and corporations then we are truly all screwed.
     
    #33     May 1, 2022
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  4. Buffett is a value investor, meaning he has to see the cash flow. He's not putting his money into something with zero intrinsic value. While the technology behind crypto is interesting, Bitcoin is essentially a pyramid scheme that became legitimized by the masses.
     
    #34     May 1, 2022
    Nobert likes this.
  5. #35     May 1, 2022
  6. SunTrader

    SunTrader

    Sure you do mean the U.S. dollar?
     
    #36     May 2, 2022
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  7. M.W.

    M.W.

    Really? Where have you pledged most of your wealth for good causes rather than consume it all or pass it on to your children (aka nepotism)? Happy to follow your lead if your walk is better than your talk. So far it looks to me like Buffett has a lot more to offer to the world than you do...

     
    #37     May 2, 2022
  8. M.W.

    M.W.

    And who are YOU? which empire have you built? And who gives a rat's ass whom you respect or not? You are just an anonymous nobody shilling crypto. A fool trying to piss at the tree that generated a fortune. Too funny..

     
    #38     May 2, 2022
  9. M.W.

    M.W.

    He is the guy who reimbursed for stamps used for personal mail that were paid for by corporate funds. Those crypto fools here have zero backbone, ethics, nor moral values but try to denigrate perhaps THE most honest guy in the financial world.

     
    #39     May 2, 2022
  10. Trader Curt

    Trader Curt

    Well I am someone that makes an honest living, trading the RIGHT WAY. As far as I'm concerned that's enough to deserve more respect than someone that cheated for their money. And even then money isn't what makes someone respectful in the first place. Only a damn fool would worship someone because of the amount of money they have.

    Nuff said
     
    #40     May 2, 2022
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