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This is totally reasonable, and I get why Warren should stay away from 'investments' in BTC. It's extremely wise to stay away from investments you don't underst

by kolbe 8y ago

This is totally reasonable, and I get why Warren should stay away from 'investments' in BTC. It's extremely wise to stay away from investments you don't understand, especially when you're a target like Buffett. But what I can't get behind is his active and vocal bearishness. If he has a well-reasoned argument to make, then he should make it. If not, lay off.

ThalesX 8y ago
I’m not a succesfull investor with decades of won bets but the amount of people pitching Bitcoin to me and wanting to talk about it drove me crazy for awhile. I can’t imagine the frustration Warren Buffet feels when surrounded on all sides by digital snake oil peddlers.
- kolbe 8y ago
  Well, my point is that Buffett usually just uses some sound byte to bash it, like 'rat poison squared'. Give us an actual argument. Or convince us that he's done significant research into BTC to come to this conclusion. It's just frustrating to hear him make a very outlandish claim like this, and then not educate us with the explanation.
  - csa 8y ago
    His argument against it, much like gold, would be that it is merely a store of value rather than a productive asset (e.g., crop-yielding land, companies, etc.). If you read up on his comments on hold (someone copy-pasted it elsewhere in this thread), you will see that this is nothing more than his investment thesis. It seems to work well for him.
    - kolbe 8y ago
      I understand why he doesn't invest in them. I mentioned that in my original post. I want to know why he is so extremely bearish. Not why it fails to meet his investment criteria. Statements like "rat poison squared" are not the same thing as disliking non-productive assets. I'm sure he doesn't think gold is going to $0. I want to hear why he thinks that Bitcoin is particularly destined for a price of zero. This is the analysis that he never gives us.
tim333 8y ago
He has a well reasoned argument: https://finance.yahoo.com/news/bitcoin-rat-poison-buffett-turd-munger-211201721.html https://finance.yahoo.com/news/bitcoin-rat-poison-buffett-tu... ending: >It’s something where people who are of less than stellar character see an opportunity to clip people who are trying to get rich because their neighbours are getting rich and neither one of them understands. It will come to a bad ending. Charlie… I see a lot of that.

by kolbe 8y ago

ThalesX 8y ago

I’m not a succesfull investor with decades of won bets but the amount of people pitching Bitcoin to me and wanting to talk about it drove me crazy for awhile. I can’t imagine the frustration Warren Buffet feels when surrounded on all sides by digital snake oil peddlers.

kolbe 8y ago
Well, my point is that Buffett usually just uses some sound byte to bash it, like 'rat poison squared'. Give us an actual argument. Or convince us that he's done significant research into BTC to come to this conclusion. It's just frustrating to hear him make a very outlandish claim like this, and then not educate us with the explanation.
- csa 8y ago
  His argument against it, much like gold, would be that it is merely a store of value rather than a productive asset (e.g., crop-yielding land, companies, etc.). If you read up on his comments on hold (someone copy-pasted it elsewhere in this thread), you will see that this is nothing more than his investment thesis. It seems to work well for him.
  - kolbe 8y ago
    I understand why he doesn't invest in them. I mentioned that in my original post. I want to know why he is so extremely bearish. Not why it fails to meet his investment criteria. Statements like "rat poison squared" are not the same thing as disliking non-productive assets. I'm sure he doesn't think gold is going to $0. I want to hear why he thinks that Bitcoin is particularly destined for a price of zero. This is the analysis that he never gives us.

tim333 8y ago

He has a well reasoned argument: https://finance.yahoo.com/news/bitcoin-rat-poison-buffett-turd-munger-211201721.html https://finance.yahoo.com/news/bitcoin-rat-poison-buffett-tu... ending: >It’s something where people who are of less than stellar character see an opportunity to clip people who are trying to get rich because their neighbours are getting rich and neither one of them understands. It will come to a bad ending. Charlie… I see a lot of that.