can we seriously discuss this?
>the “Oracle Of Omaha” has made yet another anti-crypto statement. According to Buffet, Bitcoin is not a “productive” asset, unlike land or corporate shares. As a result, investors’ demand for it is the only price-determining factor, making digital currency a handy tool for “charlatans,” Buffet said.
This is incorrect. It's really worth discussing.
The 30 yr old boomer didn't invest in google and amazon because he doesn't understand tech. He hasn't learned his lesson. Maybe he'll start buying some utility tokens after they pump 100x on the nasdaq in the coming years.
he just wants you to buy his stock bags
"really not
>The billionaire investor claimed that cryptocurrency community is in for a “bad ending” after the “euphoria wears off.”
if we take the quote yo shared:
he is 100% right, you would have to be a moron to argue with this
are you a moron op?
you clearly are a moron
> Earlier in February, Munger called Bitcoin “totally asinine” and argued that people get involved in crypto ”because everybody wants easy money.”
After reading this part I feel like he's worried the poor are going to be rich and the rich are going to be poor.
how can you say bitcoin is asinine with the global financial situation? I really think there's some other motive there. I'm only reading a quote apprently of what he said
also absolutely right
hope that the euphoria lasts a while and intensifies
what about this part?
...
Sounds like he doesn’t understand crypto or blockchain at all.
makes alot of sense, thanks for that
everyone who tells you otherwise is either totally retarded, wants your money or is so deep in his schizo mlm shit that he believes his own bullshit
even with the financial situation? I think its good for that.
the technology is good as a business. but the coins are a little bit ointless, who wants 1000 different coins for different things thats why we made money in the first place so we didn't need to trade wood for food and chickens for roofs and shit
>Its not a productive asset
No shit, its not meant to be, no currency is a "productive asset".
Buffett is a fraud. His bank shares were going to zero without a govt bailout. Buffet’s fortune is taxpayer dollars. Buffett ruined the American railroad industry and he shilled against keystone pipeline to maintain demand for his railroads. He is lower than shit. Buffett is a jew disciple he is the only non-jew ever hired by Ben Graham
if youre worried about the "financial situation (TM)" then buy gold
the rest you got right
he does'nt shit on the technology
The euphoria wore off when we got slaughtered for 4 months.
jelly neet
go back to your shitboard
We need to solve the oracle problem.
>if youre worried about the "financial situation (TM)" then buy gold
Gold is far easier to confiscate, there's a reason that wealthier Venezuelans were using crypto to evade their governmental controls as their economy began to completely collapse last year.
He is 87 years old and the dementia is taking a toll.
you don't get the point
0/10
You're incapable of making a valid point.
instead of crypto business's using tokens why don't they trade on the stock market.? right now I understand because they make alot more because of the hype but how is that long term?
there'll probably only be a few currencies long term. But the whole token thing is a way of fund raising for the most part. I don't think that's long term.
youre referring to an abstract "store of value" nonsense you read somewhere
look at the btc chart, this is exactly the opposite of store of value
>there'll probably only be a few currencies long term. But the whole token thing is a way of fund raising for the most part. I don't think that's long term.
This will be essentially true although the entire stock market will be tokenized, it'll function more or less like the current stock market does instead of the way ICOs do though.
>store of value nonsense
Crypto's usefulness as a store of value comes primarily from its censorship resistance, a bit of volatility is completely worth it for the security as alternatives can simply be seized. We can see it playing out multiple times throughout the past century where the government simply seizes your assets. You have both Greece and Venezuela as recent examples and if you go further back you'll see that the US has engaged in it before with gold.
store of value means there is no "if" or "would"
you are referring to a imaginary point in the future
95% (if not more) of the funnycoinmarket is a mlm textbook scheme
inb4
>hurdur everything is a ponzi
I'd say that there's a 50% chance that he's right
I like the philosophy behind crypto, but there's a very high chance that government regulation and corporate power will destroy the current "early adoption" generation of coins. I mean everything from BTC to XRP and stinkylinky.
Is that going to stop me from feeding a couple thousand dollars of play money into a mixture of long term HODLs and short term profit taking via scalping/day trading? Fuck no. It's a fun hobby. I might just make a little money off it too.
Why are you on this board, trolls are supposed to be funny
>a bit of volatility
>a bit
He does not know all the securities and assets will be tokenized in mear future. Stock market will trade tokenized stocks, assets and commodities.
the tokens are the same as the stock but without ]1 3rd party controlling it. they make their own token and control it.
that makes alot of sense, thanks for that I'm still learning
because i make money of this shit? like the rest
i think you are just a retard who falls for every bullshit the make money online community throws at you
sipping your bulletproof coffee while reading the 4hour workweek?
It only lost around 70% from the top to the bottom. If you think that's too much you simply lack all historical perspective.
So are you going to explain on how by your logic, everything is not a ponzi? Because that's exactly what you're saying, because you have no knowledge about how crypto works, just like the old jew.
Who hurt you. Why are you so angry friend?
i agree
but this is a completely different point
>how by your logic, everything is not a ponzi? Because that's exactly what you're saying
no, that's not what i'm saying
just that there is a big difference in comparison to other asset classes
>no knowledge about crypto
lmao, no larp boy, but i guarantee you that i'm in crypto more years than you
no one
op wanted to discuss this, no?
This is true for almost all money manager. FED let this happens.
>only lost around 70%
>in a few weeks
great store of value you have
would put my entire savings in, no doubt
You forget that 1 BTC is always equal to 1 BTC, so you haven't lost anything. You're a fucking brainlet boomer.
>boomer
listen user, your mommy does'nt pay your clothes, food and rent in bitcorn
but how would you know
30% is far more than 0% which is what happens when it simply gets seized instead. Additionally it has been getting less volatile over the years and will continue to do so as marketcap grows. If you had actually been in crypto for several years now you would be well aware of this fact, there used to be moves that large in a single day. This is by no means exclusive to cryptos by the way, you can see this same effect in everything from fiat to stocks with smaller things being far more volatile and the volatility decreasing as they grow.
>Because something isn't happening right now, it will never happen
The internet is so slow and you can't even talk on your house phone while using it, it will never be the future retards!!
i know this
i'm not a buttcoiner
but rn, this is the pennystockmarket on steroids, at best
don't pretend otherwise
we are not talking about the future user
the statement op wanted to discuss describes the here and now
>I know this
All of your other posts in this thread would indicate that you do not.
>pennystockmarket on steroids, don't pretend otherwise
You could make an argument that we're all gambling on which crypto will excel but it is undeniable that some crypto will. There is simply too much inherent utility in the censorship resistance and if you properly diversify amongst the major cryptos you can mitigate the risk of picking the wrong one.
Right now it is a good store of value for your future.
What's the issue?
would you put your entire savings in this brilliant store of value? answer me this pls
how old are you? answer pls
forgot:
where do you live that you fear the seizing of your assets so much?
The old fucker just doesn't want us to claw our way out of serfdom
Just finished accumulating. Took out my 401k and put all 13k of it into this.
I also have 6k in the bank. Feeling comfy.
27y old
>Would you put your entire savings in?
Mostly, I do have a couple months expenses in cash but 98% of my wealth is in crypto.
>how old are you?
29
>where do you live?
The US and before you act as if the US would never do this I will remind you that civil forfeiture is a thing.
Best to put you’re fiat into federal reserve backed boom and bust. Feds cranking rates up and removing their balance sheet. Guess where we’re headed.
Protip: his name is papa bear