Warren Buffett says Bitcoin-style currencies "will come to a bad end"

Warren Buffett wrote:

seattle prattle wrote:

Hope it goes down another 15% so I can buy back the little bit i sold when it bottomed a few weeks ago.

It fluctuates. I would need to see longer-term trends before i reached any opinion on its direction. But i am no expert. Looks range bound to this investor. Maybe i should be more actively trading this thing but i don't have the time. As it is, its taken more of my time than i would like.

I wouodnt buy complete garbage at any price

That makes two of us.

Well Dogecoin, the joke currency is worth $2 billion. So I'm off to the garbage dump with my truck.

seattle prattle wrote:

Warren Buffett wrote:

I wouodnt buy complete garbage at any price

That makes two of us.

If you don't have the time to be a professional investor, you should do what Warren says and just put your money in a low cost index fund (e.g. Vanguard S&P) and forget about it

Interesting. Seems to suggest it's snob value that keeps the price up for the time being.

No person has much experience with Crypto Currencies since it's only been around since the Japanese invented it only in 2009 . So any one who acts like an expert is lying.

Jamin's future wife wrote:

seattle prattle wrote:

That makes two of us.

If you don't have the time to be a professional investor, you should do what Warren says and just put your money in a low cost index fund (e.g. Vanguard S&P) and forget about it

What the hell are you talking about, anyways? I don't know why i waste my time on people like you, for that matter.

I have done magnificently as an investor over my 22 years in the market. Better than i could have hoped for. And some of that (a good portion) is on low cost index funds and in Warren Buffet's Berkshire Hathaway fund. But i also have a very miniscule percentage in crypto, the safe ones listed nicely by the Admin dude a few posts ago.

Frankly, why don't you spare me the advice on what i should do with my money? If it's not for you, that's okay. You don't find the crypto guys on here saying you have to do this or that. It seems like exceedingly bad form, in my opinion.

"A professional investor" you say. What does that even mean? If you listen to that other idiot, who probably is a professional investor, you shouldn't be wary of passive investment vehicles like index ETFs and index mutual funds. WHat a collective crock of crap. You're in good company.

correction: the other idiot says you SHOULD be wary of passive investment vehicles like index ETFs and index mutual funds.

GBTC announced a 91-to-1 forward stock split which will occur on January 22, 2018.

I thought it was Jan 26?

The millenials never lived through the dot-com bubble and bust. It was very devastating to the economy and people's wealth. I hear the same stories of people investing in BTC as a speculation.

Buffet is old, but he's been around. I'd head his warnings with caution.

Same old bubbles wrote:

The millenials never lived through the dot-com bubble and bust. It was very devastating to the economy and people's wealth. I hear the same stories of people investing in BTC as a speculation.

Buffet is old, but he's been around. I'd head his warnings with caution.

The dot-com bubble, as devastating to the economy as it was.. was not caused by the internet being invented and people starting to use it every day. It was greedy people slapping .com on any company they could and stupid investors throwing tons of money into crappy businesses.

Using the logic that many on this thread have about cryptocurrencies.. we should no longer be using the internet today because the .com bubble burst. But the backbone of the .com bubble (the internet) is more prevalent today than it has ever been.

Make no mistake, this cycle will happen with Crypto's as well. There are already tons of coins available that have zero use case but are talked up by people on twitter and youtube to make those greedy people money. When the dust settles though, blockchain technology as a whole, and many of the coins will still be around with widespread use.

Same old bubbles wrote:

The millenials never lived through the dot-com bubble and bust. It was very devastating to the economy and people's wealth. I hear the same stories of people investing in BTC as a speculation.

Buffet is old, but he's been around. I'd head his warnings with caution.

Warren knows wtf he's talking about. Stay away from all crypto and you'll do fine

Not all dot com companies crashed and burned. But many investors across the spectrum were devastated when the bubble burst.

For example, amazon went from a high of around $107/sh in December 1999 to a low of $6.78/sh in November of 2001. The fall to the bottom took almost 2 years. Amazon is currently valued at $1305/sh.

2009 was 9 yeats ago wrote:

No person has much experience with Crypto Currencies since it's only been around since the Japanese invented it only in 2009 . So any one who acts like an expert is lying.

Satoshi Nakamoto's Blockchain is as revolutionary as the invention of the wheel by the Africans. People will learn to use blockchain. Society will change. The world will change. Governments wil relinquish power to the people due to blockhain.

Why isn't Warren Buffett investing in BLOCKCHAIN? Because he knows it's nothing more than a dump in a box. So instead he eats his McDonalds $3 breakfast sandwich and drops a big turd on bitcoin, blockchain et al...

Nakemoto made Block Chain to enable a neutral governance and economic paradigm for humanity

It will take decades for Nakemoto's vision to spread across the globe

At a Block Chain meetup I went to recently it was said Nakemoto is biggest thing since Secularism was spread across Asia by warlord Ghenghis Khan

I first laughed when I heard that

Now I think it's a fact

Who is Nakemoto????

Yes, Buffett is man who knows what he’s saying and can be called an expert. But you have to understand that this cryptocurrency thing is rather new and in some way a field that has yet to be analyzed. Remember when bitcoin first appeared (in 2009 if my memory serves me well) how cheap it was, and how everybody wanted to try it but some were afraid and confused. That didn’t stop some to invest in it and take a risk. I don’t know what will happen in 10 or 15 years. Maybe this will end (badly) or maybe will evolve into something bigger. Still, we have to be precautious and take every opinion and information in consideration and find reliable sources like

https://cryptohead.io/australia/