Posted on 05/07/2018 5:08:45 PM PDT by NRx
Warren Buffett is still not a fan of investing in bitcoin.
The Oracle of Omaha reiterated his negative view on the cryptocurrency, according to CNBC's Becky Quick.
Bitcoin is "probably rat poison squared," he said. Buffett is presiding at the Berkshire Hathaway 2018 annual shareholder meeting on Saturday.
Charlie Munger, Berkshire's vice chairman and long-time Buffett collaborator, said during the meeting that trading in cryptocurrencies is "just dementia."
In January Buffett warned investors about the craze over bitcoin and other cryptocurrencies in interview with CNBC.
"In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending," the chairman and CEO of Berkshire Hathaway said then. "If I could buy a five-year put on every one of the cryptocurrencies, I'd be glad to do it but I would never short a dime's worth."
(Excerpt) Read more at cnbc.com ...
I’m vested in Monopoly Money and Broadwalk!
I paid of three car loans, thousands in mortgage debt, and mid five figures in taxes last year off a $3500 investment in 2013.
Yeah, beanie babies. Gotta make sure the tags aren’t bent.
He was independently wealthy by then from founding & selling a few companies and IP.
He was a committed cypherpunk and anarchocapitalist who was basing his ideas on the work of John Forbes Nash, Friedrich Hayek, Nick Szabo, and others.
But if you did some research, you wouldn’t need to ask such questions.
You could lose everything investing in bitcoin. Stick to something safe like the dollar which has only lost 96% of its value since the Federal Reserve was founded.
“I paid of three car loans, thousands in mortgage debt, and mid five figures in taxes last year off a $3500 investment in 2013.”
People make money in Ponzi schemes, till the rug is pulled from everyone....a la Maddoff.
Then Buffet is Bitcoin squared
You're correct in one way..but the “dollar” has gone from being backed by gold and silver to being backed by the point of a gun and a few computer strokes...
Also, look up who created bitcoin. I mean, who wrote the code?
Irony: one way to avoid several types of income taxes is to move to Puerto Rico. Bitcoin multimillionaires want to, but, with no reliable and cheap electricity, makes it difficult to avoid the taxman and still live first world life.
I am not going to get into it with you.
We can talk at the end of the year. You will get 3% from a 30 year investment. I got 3% yesterday.
Every time BTC, ETH, and other crypto are about to rally, the “sheepdogs” come out to try to stop the flock from having incorrect thoughts.
Yep, besides, tulips cannot be kept around as perishables. Bitcoin is kept around by the will to technology, one of the best alternatives to fiat currency. At least it maintains a determination of protecting technological expression, no small thing at all. It dives directly to the issues of net neutrality and defense of speech and trade assemblies
There is a finance company with cash out home refinance adds on radio, that suggest using the cash to buy bitcoins.
Bitcoin is not a question of party, but a question of necessity.
Right now the fiat currency party in Venezuela is over and they use bitcoin to survive and by internationaly badly needed meds
That bothers greatly communists and globalists who do not want their boat rocked
Agreed. In my view, it is one of the most interesting and conceptually elegant inventions of the past 50 years. And even better, it happens to be a powerful tool for self-government and individual autonomy.
This is funny. He calls it Rat Poison, and stays away from it. Wouldn’t that imply that he admits he is a rat? Ha.
Probably right. Everything that goes up eventually comes down. But will Warren still be here when the inevitable happens?
Not only did people pay a fortune in the 1990s for Beanie Babies (TM), Bill Clinton had the customs agents making sure that travelers entering the US (or returning to the US) did not bring more than 2 of any beanie baby (or maybe it was 2 total) to thwart blowing the artificial market value.
The U.S. Customs Service is doing battle against people who try to smuggle Beanie Babies in from Canada to satisfy the apparently insatiable appetite Americans have for the wildly popular bean-stuffed fabric animals. But the innocent are also getting caught in the net as the Customs Service enforces a rule severely limiting the number of Beanie Babies that can be taken across the border. ``A consumer is allowed to have one beanie baby for personal use every 30 days,’’ Customs officer Ralph Hackney said Monday.
and neither one realizes it is possible to buy puts on bitcoin.
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