What does Jow Forums think of this? Is he babbling or is Jow Forums just amateur investors wasting their money away?
>"That's because it lacks intrinsic value. If you buy something like bitcoin or some cryptocurrency, you don't have anything that is producing anything." Buffet says in an interview with Yahoo Finance. "You're just hoping the next guy pays more and you only feel you'll find the next guy to pay more if he thinks he's going to find someone that's going to pay more. You aren't investing when you do that, you're speculating."
>You're just hoping the next guy pays more and you only feel you'll find the next guy to pay more if he thinks he's going to find someone that's going to pay more
Literally the same reason people buy stocks too.
Adam Rivera
>2019 >listening to boomers If you owned 10 bitcoin in November 2009 you would have over 6million Buffet is dead
Noah Thompson
He's right, may be unpopular opinion but the reason I got into crypto in the first place wasn't to change the world. It's because we're fucking low life nerds and there might be a slight chance we get our money in the game before all the greedy normies flood in. One day the carousel is going to stop, but I don't see that happening anytime soon. The 2017 mania revealed crypto to the mainstream normies for the first time, a lot of them are still skeptical. When the entire market goes to the moon again, the mainstream FOMO will be so large it will probably stay in history books as one of the largest transfer of wealth in recent history.
Don't put your life savings into it, but if you don't put anything, you'll hate yourself 10 years from now.
>Buffet is dead A multi-billionaire dollar boomer that's played with stocks since he was 11 vs. a Jow Forums crypto investor
Joshua Gray
he is right about most crypto but bitcoin is special not because it was first but because its the only trustless permissionless public ledger to date that is secure. and that is the purest intrinsic value.
Let's put it this way to help you get it. You buy 100% of the stock of a company, you own the company and the assets of the company. On the other Han you buy 100% of a crypto coin, coin goes to zero as it's not useable anymore.
David Smith
The only thing that helps me sleep at night is that Buffet has been wrong on everything tech related.
Facebook and other social media shit, adds no value it is unironically a blight on humanity. Buffet told tech companies to get fucked, he was right about them but he was wrong how retarded the general public became since he learned how the markets worked.
Lucas Brown
He is correct. It's certainly possible to speculate on crypto and make money, but as an investment it's trash.
