4 ms·

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.

• 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.