1% farm land for 25bn = 2.5t for whole of farm lands ? Considering 850m acres of farm land overall, seems like a really big discount and not its true value
@@umbbaku8678 I didn't know what farmland is worth in the US or how much of it there is. So, thank's for the info. With 25bn for 8.5m acres that would be $2.9k per acre. He said for that price, he would write a check imdeatly, cause it's a bargin. I guess he calculated with $3k per acre and then rounded down to the next 25bn. You could phrase it this way, he didn't calculate the true value, but what would be a bargin price for 1% of the farmland.
It’s actually an old trick. He’s worked it out on paper dozens of times before this, but pretends to do it off the cuff for effect. Buffet is known to do this.
@@ramenlover1727 I meant it as an ironic statement. While I have nothing but respect for both of these men, I think they are wrong. I meant it as just because Buffet doesn’t understand it, doesn’t mean he’s right.
He's already said this multiple times, I don't know why people keep asking him about it, it's ridiculous. You're wanting to hear him say something that is going to confirm your belief but he's not going to. If it is an asset that doesn't produce anything, or he doesn't understand it, then he isn't going to invest in it. Stop asking.
Money doesn't produce anything either, its just an exchange of energy, but the only difference is the inflationary side is out of our control, remember the goverment wants the money you own to disappear in 50 years, as a 2% inflation rate does that
Agree. That is his position (centre of competence and cash flow producing) and it’s pretty clear. He also said he wouldn’t have an opinion about something, if he didn’t know more about it than the opposing view. Now he is sprouting uneducated nonsense about a subject matter which he clearly doesn’t understand or has taken any time to do so. This is disappointing for someone like him.
@@topg100x He knows enough to state what he knows and I understand what he is saying, you do not understand what he is saying because your view of what he said is totally wrong. Everything he said is absolutely true. That's probably not going to keep others, myself included from investing money into bitcoin/cryptocurrency. But that's not what he's trying to accomplish anyhow, he just isn't going to invest in it himself.
You can't keep it actually, it doesn't exist except on a blockchain, if the ledger and mining stop, it as if it no longer exist. Remember Bitcoin is not a thing, it is actually an open source network software. And like all software, there will come a time when it no longer be compatible with future Computer platforms. That is why you see so many software programs have to be constantly re-written and release new versions or else if you try to load the program it will give you an error. So you will indeed be losing that $25 for nothing.
@@walden6272 so, with the hype of mining now, people are not leaving. Technically, no one can shut down the blockchain network because it's decentralized. So it will still be this price.
@@fuzeyuan1716 All network softwares runs on a specific computer platforms, as computers evolve these platforms will make old softwares incompatible. Therefore, once that occurs, the blockchain which relies on it will be out of commission.
@@fuzeyuan1716 Yes there will be newer versions of blockchains but the problem with Bitcoin is it's stuck on the old version and they cannot transfer over the data to newer platforms. And since Bitcoin is decentralized there is no central authority to plan for future platform adoption. It's like if someone told you all vehicles will be electric by 2030 and gas stations around the world will switch over to electric charging stations. It will be dumb to keep buying more gas cars when it won't work anymore. Same will happen to Bitcoin. Eventually the old blockchain isn't going to run anymore. By then the panic will set in and everyone will try to sell their Bitcoin but it will be too late, it will be worthless. Others who saw it coming would already have sold their Bitcoins and waiting for the next best thing to pop up to invest in.
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Buying and selling is easy. Tough is to hold the quality stocks. There are few gems in the world who held their stocks (after deep research) for years and sometime for decades. They are the most successful investors.
@@bobbygunz9254 Creating wealth isn't easy because some natural human characteristics that need to be fought. Investors lack patience & get tempted to reorganizing their portfolio when small movements occur in the market. Just start holding with conviction & only focus on the balance sheet.
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Buffett is lucky enough to live in the US where the fiat currency still has some value. Try telling this to anyone that that was holding Turkish lira, Lebanese dollar, Venezuelan bolivar etc, just cuz its legal tender doesn't necessarily mean its a better choice than other currency such as bitcoin (and which the volume can't be expanded). If the fed keep printing at the rate they are I'm sure it will go down the same path. not everyone can afford to buy farmland and apartments, so the choices that are left with is fiat currency, shares (often overvalued atm), bitcoin, bonds (guaranteed loss), p metals etc.
You can surely buy some farmlands outside cities and suburbs with the money (hell even some substandard apartments) that you'll buy bitcoin with if you wanted any substantial gain through crypto to afford your retirement/better standards of living. Fiat currencies including US dollar that your spouting here do not matter in this discussion at all as we are talking about intrinsic value through real production, which Bitcoin does not have.
Yet Bitcoin is still more volatile than those foreign currencies 😅😅😅 40% of BTC is owned by just 2500 accounts imagine putting your trust in that and assuming they wont randomly dump their positions.
The anticipated rise in Bitcoin's value and its potential widespread adoption mark a transformative moment in the financial sector, driven by the expected approval of Bitcoin ETFs and increasing interest from nation-states. This shift indicates a significant influx of institutional investment into Bitcoin, positioning it as a crucial asset for wealth preservation and an alternative to traditional fiat currencies. For investors, this represents an opportunity to diversify portfolios and capitalize on the digital economy's growth.
Becoming a good trader takes time and patience. When i first got into trading i was liquidated twice, and lost my entire mortgage deposit. It is recommended to seek the assistance of a financial advisor or broker to assist you with your portfolio given the present market condition
I wholeheartedly concur, which is why I like giving an investing coach responsibility for making everyday decisions. Given their specialized knowledge and study, as well as the fact that every one of their skills is aimed on leveraging risk for its asymmetrical potential and limiting it as a buffer against certain unfavorable turns, if is practically impossible for them to underperform.
The value of Bitcoin however lays in its: (1) Ability to store value, (2) Accessibility of that value from anywhere in the world, (3) Ability to move it transnationally with ease and speed, (4) Immunity from natural disasters or any adverse local events.
The farmlands he favors above bitcoin can be eaten up by wild-fire during harvest time; the property he favors above bitcoin can lie empty due work-from-home movements that allow prospective tenants to move out of cities; a stock can go to zero due to just a hand full of bad decisions made by a CEO or the executive board.
Accessibility of that value from anywhere in the world* *with an internet connection Just like the farm could suffer a wildfire.. Bitcoins biggest bottleneck is internet access which Govt, Hackers or worse could shut off at any moment.
Why not seek the advise of an expert on this. Bitcoin is rising and also falling everyday every body is confused in the crypto market. This is why I follow the advise of Valerie Aileen Boisvert.>
This actually makes a lot of sense, people are not understanding, if they had 25 Dolars for all the bitcoin in the world I would not take it either No one would want the bitcoin because ALL OF IT is concentrated in one guy.Bitcoin would lose what makes it interesting and this guy could controlthe price of it without any problem is if you would say to me alright i give you half for 25 alright people would still want it and i can sell it in parts but it would still lose, it is kind of interesting the spark reaction that it had.
Rightly said! I am also here to learn how to invest after listening to a lady on tv talk about the importance of investing and how she made 7 figure in 3 month, somehow the video taught me nothing and left me even more confused, I'm a newbie and I'm open to ideas on how to invest for retirement
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After watching this clip, I'm very tempted to go online and exchange what few little digital nuggets I have back into typical U.S. dollars. Seems like one of their greatest advantages throughout a storied investing career is plain ol' common sense.
I don't think Warren fully understands Bitcoin because he believes so much in the dollar, which makes sense for his time. Others can see now that Bitcoin has value because it's immune to inflation during weird economic times and it's very secure. It's immune to inflation and it's secure because it can't be created, changed or controlled by one entity. There are only 21 million that will ever exist, the ledger for transactions is stored on hundreds of thousands of computers all across the world and the majority determine whether new transactions are legitimate or not. It's pretty hard to beat a majority of that many computers at math, actually nearly impossible. Decentralized computers also make it very redundant, so it would be very hard to take out even a large portion of the network since computers are everywhere. I hope you didn't panic sell a year ago because digital currency is the way of the future. Everything is going digital regardless of what old people are used to. Records turned into CDs which turned into MP3s, films turned into DVDs which turned into digital streaming. Same with photos, books, games, news articles and a million other things, so why not money?
He has a point, and his complaint about Bitcoin is parallel with his complaint about gold: farms, apartment buildings, and even reinsurance companies produce things - they produce recurring revenue. Bitcoin, and gold, don't produce anything. Warren invests in businesses that produce things. It's his style. It doesn't mean that other styles aren't legitimate, but Warren's style has worked very successfully for him and his investors. IMO, his style missed out on the internet boom. In fact I only think he started investing in tech after Apple started producing phones. But he didn't understand the internet in the 90s, he doesn't see the value in gold, and he doesn't understand bitcoin. To each their own, and his style has worked very well, but his style isn't the only game in town.
If bitcoin was owned by just one person, i wouldn’t buy it for $25 either. Its value is in its decentralization of ownership, distribution and network administration (mining). 🤷🏼♂️
Decentralisation doesn’t add utility to the coin. Each person who buys has nothing that can provide any real value. The only way they can get anything benefit from Bitcoin is selling it to someone else and hoping they pay more for it.
@@mysteryedits what i described is what gives it its value (including power consumed for mining that brings an intrinsic value into it). Utility is another topic, we agree it is still to succeed or fail in becoming either a store of value/digital gold /means of payment, but the principles are the foundations needed to at least attempt to be any of these utilities. What its being used for today (trading primarily), does not mean it cant be used for other things down the line, if it succeeds at it.
@@KhalidTahhan consuming power to mine bitcoin does not give it intrinsic value. If you work really hard at something that produces no value, you don’t get paid for it. You can work really hard at digging a hole in the ground and filling it back in and have nothing to show for it
@@KhalidTahhan It has no value to store so it can’t be a store of value. It can process Bitcoin payments but there is no solid foundation that guarantees how much that Bitcoin will be worth when you eventually want to cash out for something real
@@mysteryedits thank you for the appropriate analogy. Digging a hole to find gold, is part of the intrinsic value of gold (production). Any value above is due to its utility. I see bitcoin mining with the same lens.
Many will be triggered by this!! Many will flood the comment section with their "expert" analysis and 100% of these experts don't have $10,000 in savings!!!
You're right. Some of us have half a million in savings. Warren Buffett making comments about Bitcoin is kinda like Warren Buffett making comments about String Theory. Would you believe anything that Warren Buffett has to say about String Theory, or General Relativity, or the Schrödinger equation? Of course not, because he's not familiar with those topics. In the same vein, Warrent Buffett is not familiar with Bitcoin, so there is no reason why anybody should believe anything he was to say on the subject.
@@Andrew_2414 work on your analogies as Warren Buffett is the most prolific savant of finance in human history (>20% CAGR for 60 years) and last I checked Bitcoin is a financial product. So it’s the top financial expert who would be the #1 pick in anyone’s investment draft talking about a financial product. Seems reasonable to listen to them, yeah? To enhance and correct your poor analogy, listening to you is analogous to listening to a UA-cam commenter mocking the intelligence of the top physicist in the world talking about String Theory. Because Buffett is the top financier in the world talking about a financial product. So, it’s the same as the top physicist talking about physics. You seem to view the top physicist as a minimum wage janitor talking about String Theory. Work on your logic and analogies and embrace a bit of humility knowing you’re a UA-cam commenter thinking they know more about financial products than the guy who has a 60+ year track record of doing finance better than anyone else. I’d love to see a 1970s version of you hyping an innovative financial product that Buffett didn’t bet the farm on then. A product that was a blip in time now since long forgotten. Oddly, you’d probably sound identical to today, mocking Buffett for being a dinosaur. LOL!
@@eggnogaddict6287 "last I checked Bitcoin is a financial product." Speaking of humility, you should get some yourself. Check again; Bitcoin is, first and foremost, an innovation in computer science. When it comes to computers and internet technology, my 5-year-old niece knows more than Warren Buffett. "LOL!"
The reality is that you can’t buy Bitcoin at that price. Also there’s a saying do what they do and not what they say. Buffet is one of largest investors in banks that are affiliated with crypto.
He invests in those banks because he believes in the revenue that the banks bring in. Owing shares of a bank has nothing to do with owning crypto. Like he explains in the video, the point is that crypto has no real use in the world and is an asset that generates nothing.
@@Iamwunderbar If you were a zimbmawe/Lebanese person and had your funds in a Zimbabwe/labanese bank with a, Zimbabwe gov't printing 100% fiat a year and no access to buy US stock (which in any case would be custodied and confiscateble by a Zimbabe bank/gov't). How would you invest/protect your wealth/savings?
If one person - let's call him Warren - held ALL of the Bitcoin, its network value would be less than $25. If one person held every phone in personal possession, making a phone call would be pointless. It's the NETWORK stupid.
For someone so conventionally smart his arguments are completely clueless, but he is just too far behind the rate of change now. What value does gold have when less than 12% is used for manufacturing and industry..
You made no point. If one people held every phone in the world. The price will skyrocket. Phone is needed for communication and many other things. All you have to do is show them the technology and it’s uses. Basically what every company do when they release a new product. Bitcoin on the other hand, I have still yet to see what it’s need for that a normal currency can’t do.
@@Gabbyigi What does BTC do that fiat ("normal") currency cannot do? Given decentralization of control over a longer period, it can hold its value. Fiat currencies are guaranteed to go to zero. History is my witness. You just have to be patient... and read up on Metcalfe's Law and network effects.
@@Gabbyigi Bitcoin has a limited supply. This ensures that your purchasing power will tend upwards in time, unlike fiat where it goes down. They can print unlimited amounts of fiat. That is one of the major differences between the two.
No, he's a complete damned fool. Bitcoin is the money of the future, it's not a "worthless", and he clearly doesn't understand it's use case. Which is a shame. He's protecting his cantillionaire moat.
Yeah, people don’t get it. Modern fiat currency is a promise of value from a government, with nothing backing it up, meaning it can be manipulated and used as a tool for control by the government. Bitcoin is the same thing, the only difference is that no one controls it, so no one can use it as a tool to abuse the citizens of a country the way the government does. Currency shouldn’t be used to control people.
That’s where you need to be logical. You can not automatically trust choice B if you do not trust choice A. I do not trust my government but that does not necessarily mean I trust anything not controlled by the gov.
@@MrBearcatjew the us army does not exclusively defend those that transact in dollars buddy. It has borders that it defends people have all sorts of assets within those borders... 🤦♂️🤦♂️🤦♂️
Fiat is created through lending, bitcoin is finite, in a world of bitcoin all you have is HAVES AND HAVE NOTS, that doesn't sound like a good world to me
@Shinshocks I couldn't agree with you more, I won't even touch crypto, and here's why, 1. blockchain will be used against you, 2. Emp or solar flair you've lost your savings, 3. It's not edible.
"Nobody wants their windpipe stepped on and I don't like people stepping on mine", that is a new term, to me, I find appropriate to today's world. I am not old enough to remember when tulip bulbs were highly valued, but will leave the crypto and NFT market for others to profit from and learn. I hear "safemoon" is currently going for bargain prices.
@@jonc6157 Yes, i know the old story. Its not trillions though. This is game-changing tech, not some dudes gambling and speculating on the price of flowers. Comparing the two is kind of laughable.
Bitcoin can ledger and transfer an infinite amount of wealth anywhere in the world almost instantly and almost for free. The proof of work blockchain tech as a whole renders third party validators, international wire transfers and personal bank accounts irrelievent. If you dont understand this at this point are either a fool or in Warren's case you are a shill for corporate banking interests.
i was never patient and due to being an aggressive investor, lost heavily but a friend who works at fidelity investment connected me to an F.A in the person of Nicole Deanne Mckay who helped me
@@billackman5620 The crazy part is that those F.A are probably outperforming the index and raising good returns. I will give this a look, I'm really thankful that i can came across such a conversation.
There’s no intrinsic value to crypto. He’s absolutely right. The only value is the idiot who pays more for it. It’s a bubble and one say it will burst and many people will lose everything. Companies and farms at least produce goods that can be sold. Real value. Real products.
Companies don't produce goods anymore, they produce dollars. You get a business loan at 3% interest, buy a house at 4% interest, buy a vehicle for your real estate business at 2% interest. Then do nothing and wait a few years of 10-20% inflation to cash out your short position on the dollar. This is how a fiat business operates, because the money is broken. Real value needs money to be measured. Bitcoin is money. Government money is not real money.
Warren Buffett himself has said multiple times he doesn't know technology. Bitcoin doesnt add anything but being a currwncy. But ethereum has an actual functioning product behind it
Well countries are converting to it and so are the banking systems. ISO20022 compliant tokens are utility to ices and have extreme value. I believe the IRS is not\w accepting Bitcoin … my girlfriend just bought a place in Bali they accepted, Rupie, usd and bitcoin…..warn buffet now owns bitcoin.
4:40 “there’s only one acceptable currency” yeah, tell that to third world countries that get screwed by the IMF. I understand why Warren doesn’t see value in Bitcoin, because the problem it solves couldn’t possibly be further from his world view
The IMF doesn't screw any country. Out of control corruption, "special interests" of certain groups and populist policies screw every country and keep it poor forever. The IMF suggests pratical policies that will eventually bring about sustainable long term growth, but will require some short term pain and some groups will lose their privileges.
Yeah I've noticed that the success behind my profit in Bitcoin Investment is not solely on my skills but the help of Adrian Brayden Calebfx, the best trader I've known so far.
Saying one person owns all of Bitcoin is like saying one person owns all the money , in which case “all the money” wouldn’t have any value as well . Bc it comes down to an agreement between humans as to which and when money is worked something
Shows you how he doesnt even grasp the concept. He probably never had someone explain to him what blockchain tech is and why it IS a productive asset. In his example, he would be buying BTC farms, not BTC. Or that would be equivalent to saying you would buy 1% of the food from all farms, not 1% of the land. He's comparing apples to oranges imo.
@Cheval Le mineur Warren might invest in BTC farms, as the GPUs could be leased to others, but he’s not talking about the farms. He’s talking addressing buying BTC, so your comment doesn’t make sense.
@@apad thats the whole point. Hes comparing apples to oranges which leads me to believe that he doesnt quite understand what hes talking about when it comes to crypto.
He sound like he’s just on the hood side with the banks and don’t want big banks to be replaced. Bitcoin was suppose to be a decentralized currency backed by the people. Same as the dollar technically but never see him bashing the dollar
The key word here you mentioned is “supposed”. Bitcoin is “supposed” to be all kind of things but the reality is it hasn’t done any of the promises that it’s “supposed” to do. No one is using it as a medium of exchange. No one is pricing any goods/services or making loans in units of Bitcoin. In the end, Bitcoin has NOT function as money.
I don't want banks to be replaced. I enjoy having fraud protection, not having to worry about losing my password, and being able to earn interest. Banks provide a valuable service, they keep your money safe. There is a reason you rarely hear about people having their life savings stolen or lost with USD.
I came here to learn how to trade after listening to a guy on radio talk about the importance of investing and how he made $460,000 in 4 months from $100k. Somehow this video has helped shed light on some things, but I'm confused, I'm a newbie and I'm open to ideas.
@Leory Ruth Interesting I’m also interested on investing, I've a huge sum of money doing absolutely nothing at all in my bank account, i wanna gets something started with it. You seem to be doing excellent for yourself, how do you achieve this?
I invest with Mrs Nora too, she charges a 20% commission on profit made after every trading session and that's fair compared to the effort she puts in to make huge profits.
Consistency is key, I've been investing with her for months now and I've made alot of profit from her. Most of those traders who offer to give you 50% of whatever you invest might scam you of your hard earned money...Forex ain't that easy you know, so i advice you also start investing with Mrs Nora because she is the best broker ever.
Even though Buffett may be right, I still hope Bitcoin doesn't crash to become worthless. Not because I own any Bitcoin but because it is did go back to zero, then a whole generation of relatively young investors without much physical assets such as property, will have lost all of their hard earned savings.
Because it is just manipulated by a single man that's why it happen all the others who support bitcoin are workers of him that one man is going to enslave humans
I like his description of Bitcoin - some people make money on the fees but it's really just people trading money around and hoping that someone will pay more for it than you paid.
It's a new monetary system which can't be attacked or debased. It's true, hard, scarce, sound money. Buffett and you, are both wrong. And fail to understand Bitcoin.
It is so disappointing when you idolise someone for being hyper successful and insightful within a certain field, starts talking about a particular field you know alot about. And you realise they are talking out their ass! And you contemplate, is he also a bullshitter when it comes to the things I know little about!! Why would he talk about Bitcoin since he knows nothing about it? Why doesn't he, with all his experience, stay humble and within his field of expertise? Bitcoin is perfect engineered money that allows peer2peer transactions instantly, almost free and without issuing debt certificates. Bitcoin is a life changing technology for millions, already today!
The only thing he says about bitcoin is that its not a productive asset and he is well qualified to talk about that. All crypto knuckleheads are the same, you always get so angry whenever someone says anything negative about it. Learn to listen to people with experience
@@12345678924439 he is just plain wrong. I earn 5% interest on my Bitcoin. Paid out every Monday. Life changing for a lot of people. My bank offers me -1.1%!!
The comments here remind me of what people were saying about Buffett in 1999, before the dot com bubble burst. 1999: “Buffett’s out of touch. He’s an idiot for not buying tech stocks at today’s prices. P/E ratios don’t matter anymore.” Hahaha
I see some potential in Bitcoin, but the community who supports Bitcoin are honestly some of the most insufferable people I've ever met. Buffetts comments have really gotten them butthurt and I love it!
Except he's a value investor who didn't buy at inflated prices, he did and does buy tech stocks. He owned tech stocks going into bubble and did not reduce holdings in them. He just didn't and never does buy during bubbles, he's a value investor, a disciple of Ben Graham does not buy stocks which are that inflated. This is an out of touch statement especially when you consider the bank stocks he owns which invest massively in bitcoin and crypto. Buffet does invest indirectly largely in bitcoin.
@Christian Guides Bitcoin has so much competition from other cryptos...endless competition. There is only one "gold". Gold, Au, atomic number 79, a transition metal that was used for many things such as money, and it mostly doesn't react to most of the chemicals. Gold, Au, is a valuable solid that is the most malleable and ductile of all metals..
It doesn’t matter what he say. He is not the only human being left in this world. Billions of people exist. So there are billion of thoughts and ideas about different things. A single person’s say doesn’t effect the whole system.
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Sounds like a few fake accounts advertising a dodgy financial service provider. I mean, really? Crypto, NFTs? In the comment section of the video of Buffet saying "bitcoin is trash"?
A perfect scarce and full transparent asset has this beautiful intrinsic mechanism of self-balancing value formation that drives its price down as the number of owners diminishes forcing the owners to distribute the asset and drives its price up as the demand for it increases by the effect of that distribution. The economics model of the bitcoin currency was so perfectly and thoughtfully designed that it make me wonder how incredible was the genius behind its creation!
So you’re ok for paying for goods when that good is priced based on the scarcity of the currency that’s used to purchase that good? No thanks. Bitcoin needs to be centralized and regulated
You're describing every finite resource ever, which is every resource on earth. Bitcoin even fails its basic function of being a transactional asset. It is worthless.
This is true because if somebody is willing to sell all of their bitcoin for $25 and he buys it then it’s only worth $25 and he can’t sell it back. Because the price has now been determined so who would buy it for more? Bitcoin doesn’t make any money on it’s own since it doesn’t produce anything.
I guess what he's saying would be true except for the fact that some people and businesses are starting to accept Bitcoin in exchange for goods and services. In essence, Bitcoin is just like any other fiat currency - it's only worth what someone else thinks it's worth. That's the universal fact - the value of ANYTHING is judged by what someone else is willing to pay for it.
Finally someone accepting bitcoin is fiat too. Although it is not money , not more than dollar or euro. At least the dollar and euro is backed by the governments, confidence on that country. Means, is fiat . Fiat means fiat in Latin. You guys from the US don’t even understand the meaning of fiat, but trust me, that’s it.
Not really, they "accept" bitcoin because they can convert it in dollars/euros and use that currency in everyday life. It's a minuscule part of bitcoins that is used to buy things, 99% of people treat it like a "bet". Right now it's more like gold, but without the great properties.
No, this simply isn't true. Fiat currency isn't based on _nothing._ Much to the contrary, it's based on the productivity of the country that issues it, and the expectation that it can be exchanged for a wide array of goods and services in _said_ productive economy. Bitcoin fails to fulfill this because of its astronomical opportunity costs of transaction, its inability to be divided into smaller day-to-day transactions, and the sheer vulnerability to fraud it exposes its users to. Its lack of utility as a currency due to its high opportunity cost and spectacular volatility means it does _not_ have the intrinsic value that the dollar has. The dollar will _always_ be exchangeable for any goods and services in the most powerful economy on Earth. Bitcoin, as far as I'm concerned, doesn't have _any_ transactional value beyond its ability to be pushed onto the next idiot to walk into the market. As stated in "Line Goes Up," it's a bigger-fool scheme, and is intrinsically worthless.
He did not know how to use an iPhone until around 2017. After he learned it, that is how he bought the stock. I bet you he does not understand Paypal either.
Old money doesn't have time to clickity click and have to talk back and forth with you about where to send the money and or have to worry about limits. Big money takes your name, signs on the dotted line and keeps it moving.
@@haneytr3s well there are other cryptos besides bitcoin that take less than a minute to be confirmed for only a few pennies. You can use a QR code and/or save someone’s wallet address. It’s actually cheaper and faster than Visa or Mastercard. And bitcoin itself is used as a currency on the dark web.
@@bubbleboy821 if you were starting from scratch today and trying to decide between bitcoin and checks for everybody to use, bitcoin would have a strong argument. That is not what is happening bitcoin is being hyped for all kinds of things but people don't use to buy things in the real world so it is more like digital gold than anything else. Most gold is stored in vaults and not used for any productive purpose, why is digital gold better than real gold.
@@haneytr3s It’s a very good thing you’re interested in the crypto space.. I am a vivid investor in these markets through a brokerage company that offers passive investment opportunities to seeking individuals.
1. I want to BUY a private purchase sale of a vehicle for $40,000.00 2. The sale is a 8 hour drive away. 3. I don’t want to carry cash on this drive because of theft or loss. 4. I can instead carry a “digital wallet” the size of a “thumb drive” and hide it on my person. 5. I can then transfer the money to the other parties “wallet.” Within a few seconds. 6. Do you not see where this is going?
He just doesn't understand it yet, like he didn't understand Apple for years. Don't take it for a currency. Take it as digital gold and you're already way ahead. Granted he's got the same exact arguments for gold too.
I moved $50,000 in value on a Saturday in less than 5 minutes for the equivalent of $1.50. It's the network. The dollar will not be the preferred method of transfer forever. Sadly he will be dead before he has gets to see how wrong he is.
EXCELLENT POINT!!! I thought the same thing too - that the old man might live to see how wrong he is. And hopefully, will live to see his own wealth and power evaporate BEFORE he dies. Because that would be just providencial.
Did this guy just single handedly describe the reason we work for money for them? because if they had it all, who would they give it to? nobody would want it?.... Ill take this tinfoil off now...
You can leave it on, take it off, it’s irrelevant. The tinfoil doesn’t appear to be your problem. Clearly you’re intellectually incapable of parsing data and understanding fairly simple concepts. But don’t worry you’re far from unique.
Wow who should I pay attention to, professional scammers who try to pump garbage coin and sell it to you with sprinkles on top or the greatest investors of all time who invest in real tangible assets at prices undervalued? Tough choice.
just look at the anguished goats stuck in the comments. They are bleating so loudly because they are worried that the money they put in to but BitCoins might end up going for nought.
You guys still not getting it? Bit coins or fiat currency does not produce anything. Bitcoins value can go up or down and there will be more crypto currencies in the market. It is like a tiking time bomb which will explode. Stocks even over valued can find its place if market situation gets better over time. Plus it is producing something.
I like at the end, Buffett stated its more like magic. As Arthur C Clarke said, any sufficiently advanced technology is indistinguishable from magic. These old guys are past their time. The fundamentals are great, but they don't understand the technology anymore. Still talking about farmland and sugar water.
Because farmland and sugar water are things. Tangible assets will always outweigh something that is nothing more than an idea subject to purely arbitrary whims.
@@datubeda And is the internet a "tangible" thing? Is Artificial Intelligence? Just because you can't touch it doesn't mean they do not have value. We've seen the value of the internet. If you can build on top of a blockchain protocol and allow for more cost efficient transactions across the world is that not valuable?
@@KLYSM92 Ai and the internet have value and uses .You might not be able to "hold" or "see" those assets but they produce value. Dont forget that those guys have the most money of their portofolio in the company that created IOS and have some other smaller bets on ai and "internet" stocks.
I'm new to Crypto and I find it difficult using these strategies well. Where can I find a legit broker? that will manage my account and also teach me how to trade.
@@paulinejohn2749 Yeah Mrs Elisa Ramos!. She is an expert trader and a certified broker too, I've worked with her for months now, seems she processes trade for almost everyone lol, all you have to do is to follow her guidance. then sip your drink and relax lol
As a first time investor I started trading with Elisa Deborah Ramos with just a two thousand bucks; her initial investment then. Now I keep making over $12,100 trading with her weekly, Her professional strategies are really mind blowing
@@thomasjerry5719 Elisa Deborah Ramos been really helpful.. trading went smooth for me as I was able to raise over almost 1 btc when I started at 10k in just 3 weeks of implementing trades with her signals and insights. I would advise you to trade your asset rather than hold for a future you aren't sure about.
This is why he is a legend! Spot on about Bitcoin. Anyone who knows finance and cash flow analysis will understand the true value of bitcoin zero. I think most people who own bitcoin is owning because someone told them or promoted in media or Elon tweeted. Truth is an assets can valued only if generates cash flow and Bitcoin has no cash flow. In my opinion Buffet is telling the facts about Bitcoin which lot of people don't like.
Most people have a problem with 5th grade math and that it the real reason bitcoin is as popular as it is. This is a scary and true statement. Plenty of people have made money off it, but then people make money off of ponzi schemes until they collapse.
A man who made good early decisions that got him rich in the fiat standard has it in his interest to speak against bitcoin, all of his friends are in high places within all the banks. When btc prevails, those banks won't exist and neither will this mans wealth. He's an old man who is far too rich than is useful to anybody. Soon his words will mean nothing, and ALOT of people will have a better life.
You do realize the people you're talking about - big banks and their buddies in politics - can make bitcoin illegal any time they want? Here's what's gonna happen: they'll create their own digital currency and tell you you have to use it. And you'll use it because you won't have a choice.
Munger's comments on crypto have certainly aged well. It is 11/17 a few days after SBF and FTX have melted down to zero. Crypto investors do not understand asset values or markets. Buffett's comments are 100% right because farmland produces goods or services that people need. Therefore, they can generate something of value.
Ethereum fees are definitely outrageous right now. But have you looked at literally anything else? Having the assumption everything is a scam is a good way to play it safe too btw. Fiats a scam, stock markets a scam, governments a scam, pubic schooling is a scam, your job is a scam, rent is a scam, a hook is a scam etc etc. You can be wrong for being right, but can you get a better savings rate than your bank and less fees? It depends on how you approach it, and if you have the attitude that everything is a scam, then maybe you've been scammed to believe that. But hey, it's a free country, where you're free to be wrong. Meanwhile I'll be making 15% on my dollar pegs. Enjoy the inflation, and thanks for saving us from the "real" scam Scam Man.
@@subcitizen2012 totally agree. I think stable coins for income are a good place to be right now. Check out UST/anchor if your goal is yield. Very juicy at 19.5% rght now.
I get this as I invested in Bitcoin as a store of value and to hedge against inflation and equities. But it hasn’t done that. As the value of the dollar has dropped, and the stock market has dropped, so has bitcoin. So like if it doesn’t function as a store of value and hedge against inflation, what is the value in it and why should I keep some? I’m strongly considering selling my BTC and ETH as soon as it rallies again, can you explain why I shouldn’t?
Fadhil you are looking at it on a short term scale. Zoom out and look at the longer history. It has held its value very nicely compared to literally anything if you zoom out 2 years or beyond.
@@jackiezakir3671 After I came across bitcoin trading platform of Mrs Cora James my financial life has totally changed, yours can also change it's just a matter of commitment and focus.
@@hectornemo5004 She is my family's personal broker and also a personal Broker to many families in the United States, she is a licensed broker and a FINRA AGENT in the United States 🇺🇲.
Wow😮 I know her and I have also been trading with her, she's such an amazing woman with good skills keeps me happy all week knowing I earn 15thousand extra income trading with her
Love the concept of frictional cost, particularly in connection with bitcoin. The bitcoin network consumes about 200 TWh of energy per year. If we assume a cost of $0.1 per kWh, that is about 20 billion dollars per year. It is a very real cost and someone is paying it.
All for the "participation proof", which is a nonsensical circular reference of jargon to lead an investigative mind in circles searching for the truth/value. There is none. Meanwhile, go to Wikipedia and learn how a Nuclear reactor works within a matter of 5-10 minutes.
@@bubbleboy821 That is obviously the case, but usually the cost of running something is offset by what it provides in return. Bitcoin produces nothing and (as of today) is not particularly useful as currency either, meaning it's only arguable value is as a value reserve. But if the market cap is about 700 B and it costs 20 B a year to run, its use as a value reserve costs 2.85% p.a. I don't think traditional reserves of value are nearly as expensive to maintain.
Electricity is usually priced at negative prices, at least for the big mining companies. They're actually providing stability for the grid, which provides value to the grid, so they actually get paid to run their miners.
You want to invest in real estate, you look at the rents. You want to invest in a stock, you look at the dividends. Any time you deviate from these simple basic principles of investing, you WILL get in trouble. It's just a matter of time.
How do you judge the rents to determine if real estate is worth investing? Since the problem with real estate is that the value can crash, how do you avoid such misfortune? And with stocks, what formula would you use to determine if their dividends is worth the price of their stocks?
@@walden6272 I'll use real estate as an example because it is the most clean cut. If you are going to invest in real estate, let's say you are buying an apartment complex. Let's look at the money going out. Let's say you took a loan out. The money you have going out each month is a mortgage payment, insurance, maintenance costs, labor, etc. If you are a serious real estate investor, the money you collect from rent should generate you at least a 7,8,9% return. You need to do more than just break even, because you can get a couple percent with less risk just investing in a government bond. The problem people run into investing in real estate is that they accept negative cash flow, because they think they will make it up on the appreciation of the property. This is the mistake people made leading up to the '08 crisis. If a property is so overvalued that it produces a negative return, the price will inevitably collapse. Those are the fundamentals people forgot about when they were speculating on real estate. They didn't base it on the core fundamentals. I hope this makes sense to you, and I am happy to clarify if you have any other questions.
@@DaDankStrafe Thanks, that does help me understand real estate investing. Can you get into stocks and dividends a little? I don't invest in stocks because I don't like the idea that in order to make money, you need the stocks to appreciate in value. I prefer being pay dividends but I am not sure how to judge when the price of stocks is good base on their dividend return. I'm thinking there has to be a good rule of thumb. Like a friend of mine who is in restaurant business told me, when he buys a restaurant he would only buy them if their profits can recoup his initial investment in like 7 to 9 years. Anything longer he would not buy them. I am thinking of applying that rule to stocks but by looking at the price, it takes decades to recoup my investment and most stocks don't even pay dividends.
I don't have a problem with Bitcoin not producing anything. After all, the dollar, the yen, and the euro don't produce anything either and that doesn't stop people from investing in those currencies. But the problem I do have with Bitcoin is, it's only been around since 2008, and that is too short a time period to determine if it is over or undervalued relative to historical averages. As the old saying goes, time and me against any man (or currency).
Of corse, he's calling a bluff and he's rich enough to call one. Fact still remains that given the present state of the economy and all, it's still in our best interest to to embrace not only bitcoin/cryptocurrency but anything that's inflation resistant. My fa who made me my first million earlier this year in the peak of this inflation had been hammering on it. Guess I am now a believer, given that currently, the inflation is ripping us apart and I am not so affected.
Honestly, some of us are playing catch up...Seems very profitable... You mentioned something about an advisor. Who's he? I need somebody like that in my life...
@@archiemcdougald5466 This right here is the second time I am coming across this name in a week,, My colleague at work seems to feel she's some kind of God sent angel,,,
That’s kind of like comparing buying EUR with USD… why would you buy EUR in exchange of USD? One answer to this is because you believe that in the future the amount of USD you traded for EUR will be worth less and the EUR will be worth more (or Vice versa) Currencies don’t have to produce anything they just need for US the people to use it in exchange of goods. We like bitcoin because its limited and doesn’t loose value like the USD,EUR,POUND or any other fiat can potentially loose value. USD sitting in my bank certainly doesn’t “produce” anything either.
My man just sat there and calculated the value of all the farm land in the USA in his head like he was trying to figure out how much to tip the waiter
If within the next 20 yrs I end up having 5% of that old man's way of thinking.. I will be in a very solid place for life
1% farm land for 25bn = 2.5t for whole of farm lands ? Considering 850m acres of farm land overall, seems like a really big discount and not its true value
Its more likely to be 4t or 5t at $5k per acre
@@umbbaku8678 I didn't know what farmland is worth in the US or how much of it there is. So, thank's for the info.
With 25bn for 8.5m acres that would be $2.9k per acre. He said for that price, he would write a check imdeatly, cause it's a bargin. I guess he calculated with $3k per acre and then rounded down to the next 25bn. You could phrase it this way, he didn't calculate the true value, but what would be a bargin price for 1% of the farmland.
It’s actually an old trick. He’s worked it out on paper dozens of times before this, but pretends to do it off the cuff for effect. Buffet is known to do this.
Never invest in something you don’t understand.
-Warren Buffet
@@ramenlover1727 I meant it as an ironic statement. While I have nothing but respect for both of these men, I think they are wrong. I meant it as just because Buffet doesn’t understand it, doesn’t mean he’s right.
His problem is he doesn't understand... Or he clearly does understand and he knows what will happen. What does gold locked in vaults do?
@@nocturnal1970 what are you getting at?
Then I can never invest at all
@@nocturnal1970 Disappears
I could listen to Buffett for hours. He's like your grandpa. What a privilege technology allows us to listen to these legends on-demand.
He took few bitcoin on scred lol, Bad buffet, look at bitcoin now...
To be fair, if one person owned ALL of the bitcoin in the world, it would indeed be useless. :)
100% right.... well articulated
Agreed👍🏿
True but he wouldn't have a problem trading it.
@@Dirty_D_ how wouldn't have problem with it .... and he owes 100% who will dealing with him
@@BB-km5nv It only takes a spark to start a flame brotha 👍
The fact that he said he can write a 25 billion dollar check !!! Love it
If I could do that I wouldn't be working like him.
he did wrote a check of $32billion for all the US research
I aint ever heard someone say "25 billion dollars" so casually before 😭😭😭
Many people can say 25 billions, but not many people can mean it
he did donate $32billion to US research
He's already said this multiple times, I don't know why people keep asking him about it, it's ridiculous. You're wanting to hear him say something that is going to confirm your belief but he's not going to. If it is an asset that doesn't produce anything, or he doesn't understand it, then he isn't going to invest in it. Stop asking.
Money doesn't produce anything either, its just an exchange of energy, but the only difference is the inflationary side is out of our control, remember the goverment wants the money you own to disappear in 50 years, as a 2% inflation rate does that
Agree.
That is his position (centre of competence and cash flow producing) and it’s pretty clear.
He also said he wouldn’t have an opinion about something, if he didn’t know more about it than the opposing view.
Now he is sprouting uneducated nonsense about a subject matter which he clearly doesn’t understand or has taken any time to do so.
This is disappointing for someone like him.
@@topg100x He knows enough to state what he knows and I understand what he is saying, you do not understand what he is saying because your view of what he said is totally wrong. Everything he said is absolutely true. That's probably not going to keep others, myself included from investing money into bitcoin/cryptocurrency. But that's not what he's trying to accomplish anyhow, he just isn't going to invest in it himself.
yet he owns 10% of activision now, a dying video game producer
@@crackcrock Has nothing to do with anything he said.
I mean if someone offered me all the Bitcoin in the world for $25 I would take it and keep it just as a souvenir from a moment in history!
You can't keep it actually, it doesn't exist except on a blockchain, if the ledger and mining stop, it as if it no longer exist. Remember Bitcoin is not a thing, it is actually an open source network software. And like all software, there will come a time when it no longer be compatible with future Computer platforms. That is why you see so many software programs have to be constantly re-written and release new versions or else if you try to load the program it will give you an error. So you will indeed be losing that $25 for nothing.
@@walden6272 so, with the hype of mining now, people are not leaving. Technically, no one can shut down the blockchain network because it's decentralized. So it will still be this price.
@@fuzeyuan1716 All network softwares runs on a specific computer platforms, as computers evolve these platforms will make old softwares incompatible. Therefore, once that occurs, the blockchain which relies on it will be out of commission.
@@walden6272 Yes, I believe there will be a newer version of blockchains, who knows.
@@fuzeyuan1716 Yes there will be newer versions of blockchains but the problem with Bitcoin is it's stuck on the old version and they cannot transfer over the data to newer platforms. And since Bitcoin is decentralized there is no central authority to plan for future platform adoption. It's like if someone told you all vehicles will be electric by 2030 and gas stations around the world will switch over to electric charging stations. It will be dumb to keep buying more gas cars when it won't work anymore. Same will happen to Bitcoin. Eventually the old blockchain isn't going to run anymore. By then the panic will set in and everyone will try to sell their Bitcoin but it will be too late, it will be worthless. Others who saw it coming would already have sold their Bitcoins and waiting for the next best thing to pop up to invest in.
You might not have a hundred million dollars to invest, but that doesn’t mean your money can’t share in the same opportunities available to others. You work hard for your money; make sure your money works hard for you.
The wealth you pass to the next generation can have a profound impact on your heirs, providing educational opportunities, the capital to start a business, or financial support to your grandchildren.
To manage investment risk, consider maintaining a broad diversification of your investments that reflects your personal risk tolerance, time horizon, and the nature of your financial goal. Remember, diversification is an approach to help manage investment risk. It does not eliminate the risk of loss if security prices decline.Because investing can be complicated, consider working with a financial professional to help guide you on your wealth-building journey.
can you endorse any ?
TERESA JENSEN WHITE does a perfect job. look her up on the web
thanks for the info . Found her website and it really impressive
Buying and selling is easy. Tough is to hold the quality stocks. There are few gems in the world who held their stocks (after deep research) for years and sometime for decades. They are the most successful investors.
The big money is not in the buying or selling, but in the waiting
@@bobbygunz9254 Creating wealth isn't easy because some natural human characteristics that need to be fought. Investors lack patience & get tempted to reorganizing their portfolio when small movements occur in the market. Just start holding with conviction & only focus on the balance sheet.
@@Steyne968 I'm seeking for a better investing approach because I have a large quantity of money sitting in a savings account earning close to nothing. I'm open to any excellent recommendations on how to deal with this turbulent market because you appear to be doing well yourself.
@@chris-pj7rk If you can, invest in a diverse portfolio. I achieved it with the help of a copy trading strategy run by "Nicole Ann Sabin". It's been a great weight lifted off my shoulders. I'm making good money with little to no effort on my side. Her stock recommendations are excellent, and my aggressive portfolio continues to generate substantial profits. I can tell you she's a trading and portfolio diversification genius.
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Buffett is lucky enough to live in the US where the fiat currency still has some value. Try telling this to anyone that that was holding Turkish lira, Lebanese dollar, Venezuelan bolivar etc, just cuz its legal tender doesn't necessarily mean its a better choice than other currency such as bitcoin (and which the volume can't be expanded). If the fed keep printing at the rate they are I'm sure it will go down the same path. not everyone can afford to buy farmland and apartments, so the choices that are left with is fiat currency, shares (often overvalued atm), bitcoin, bonds (guaranteed loss), p metals etc.
Completely agree.
You can surely buy some farmlands outside cities and suburbs with the money (hell even some substandard apartments) that you'll buy bitcoin with if you wanted any substantial gain through crypto to afford your retirement/better standards of living.
Fiat currencies including US dollar that your spouting here do not matter in this discussion at all as we are talking about intrinsic value through real production, which Bitcoin does not have.
Bitcoin offers no more utility than does shitcoin or buffetcoin or cjmarscoin. When you can pay your taxes with Bitcoin then I'll go long!
This comment makes sense. A breath of fresh air in the grumpy old men club.
Yet Bitcoin is still more volatile than those foreign currencies 😅😅😅 40% of BTC is owned by just 2500 accounts imagine putting your trust in that and assuming they wont randomly dump their positions.
The anticipated rise in Bitcoin's value and its potential widespread adoption mark a transformative moment in the financial sector, driven by the expected approval of Bitcoin ETFs and increasing interest from nation-states. This shift indicates a significant influx of institutional investment into Bitcoin, positioning it as a crucial asset for wealth preservation and an alternative to traditional fiat currencies. For investors, this represents an opportunity to diversify portfolios and capitalize on the digital economy's growth.
Becoming a good trader takes time and patience. When i first got into trading i was liquidated twice, and lost my entire mortgage deposit. It is recommended to seek the assistance of a financial advisor or broker to assist you with your portfolio given the present market condition
I wholeheartedly concur, which is why I like giving an investing coach responsibility for making everyday decisions. Given their specialized knowledge and study, as well as the fact that every one of their skills is aimed on leveraging risk for its asymmetrical potential and limiting it as a buffer against certain unfavorable turns, if is practically impossible for them to underperform.
That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this consultant?
Google Sharon Lee Peoples and make your own research. She has portfolio management down to a science
I ran a search on her name and came across her websiite; pretty well educated. thank you for sharing.
The value of Bitcoin however lays in its:
(1) Ability to store value,
(2) Accessibility of that value from anywhere in the world,
(3) Ability to move it transnationally with ease and speed,
(4) Immunity from natural disasters or any adverse local events.
The farmlands he favors above bitcoin can be eaten up by wild-fire during harvest time; the property he favors above bitcoin can lie empty due work-from-home movements that allow prospective tenants to move out of cities; a stock can go to zero due to just a hand full of bad decisions made by a CEO or the executive board.
Accessibility of that value from anywhere in the world* *with an internet connection Just like the farm could suffer a wildfire.. Bitcoins biggest bottleneck is internet access which Govt, Hackers or worse could shut off at any moment.
The value reacts to the other markets just as well, what do you mean unaffected by disasters?
Why not seek the advise of an expert on this. Bitcoin is rising and also falling everyday every body is confused in the crypto market. This is why I follow the advise of Valerie Aileen Boisvert.>
@@williams6523 Really a good idea.. Please is the CFA on tele gram?
This actually makes a lot of sense, people are not understanding, if they had 25 Dolars for all the bitcoin in the world I would not take it either No one would want the bitcoin because ALL OF IT is concentrated in one guy.Bitcoin would lose what makes it interesting and this guy could controlthe price of it without any problem is if you would say to me alright i give you half for 25 alright people would still want it and i can sell it in parts but it would still lose, it is kind of interesting the spark reaction that it had.
Rightly said! I am also here to learn how to invest after listening to a lady on tv talk about the importance of investing and how she made 7 figure in 3 month, somehow the video taught me nothing and left me even more confused, I'm a newbie and I'm open to ideas on how to invest for retirement
@@rajeshupadhyay5683I'll suggest you lookup Priscilla Dearmin-Turner, she have been our real investment prodigy and has also help me handled my trades for over 16 months now
Consistently investing in quality dividend paying companies over the long term is a relatively easy strategy to create generational wealth
A news host spoke so highly of💕 Priscilla Dearmin-Turner and her loss prevention strategies been trying to get to her ever since didn’t know she was so accessible here.
@@lezliewhicker8450i just lookup her name and found her qualifications on FINRA and SEC, she seems really solid. I’ already leave her a mail on her webpage, thanks🙏
After watching this clip, I'm very tempted to go online and exchange what few little digital nuggets I have back into typical U.S. dollars. Seems like one of their greatest advantages throughout a storied investing career is plain ol' common sense.
They have their own agenda
That would be a foolish move. Bitcoin is the apex store of value & we haven't even seen the start of it's true capacity to increase in value.
I don't think Warren fully understands Bitcoin because he believes so much in the dollar, which makes sense for his time. Others can see now that Bitcoin has value because it's immune to inflation during weird economic times and it's very secure. It's immune to inflation and it's secure because it can't be created, changed or controlled by one entity. There are only 21 million that will ever exist, the ledger for transactions is stored on hundreds of thousands of computers all across the world and the majority determine whether new transactions are legitimate or not. It's pretty hard to beat a majority of that many computers at math, actually nearly impossible. Decentralized computers also make it very redundant, so it would be very hard to take out even a large portion of the network since computers are everywhere.
I hope you didn't panic sell a year ago because digital currency is the way of the future. Everything is going digital regardless of what old people are used to. Records turned into CDs which turned into MP3s, films turned into DVDs which turned into digital streaming. Same with photos, books, games, news articles and a million other things, so why not money?
He has a point, and his complaint about Bitcoin is parallel with his complaint about gold: farms, apartment buildings, and even reinsurance companies produce things - they produce recurring revenue. Bitcoin, and gold, don't produce anything. Warren invests in businesses that produce things. It's his style. It doesn't mean that other styles aren't legitimate, but Warren's style has worked very successfully for him and his investors. IMO, his style missed out on the internet boom. In fact I only think he started investing in tech after Apple started producing phones. But he didn't understand the internet in the 90s, he doesn't see the value in gold, and he doesn't understand bitcoin. To each their own, and his style has worked very well, but his style isn't the only game in town.
BTW I am pro Bitcoin.
If bitcoin was owned by just one person, i wouldn’t buy it for $25 either. Its value is in its decentralization of ownership, distribution and network administration (mining). 🤷🏼♂️
Decentralisation doesn’t add utility to the coin. Each person who buys has nothing that can provide any real value. The only way they can get anything benefit from Bitcoin is selling it to someone else and hoping they pay more for it.
@@mysteryedits what i described is what gives it its value (including power consumed for mining that brings an intrinsic value into it). Utility is another topic, we agree it is still to succeed or fail in becoming either a store of value/digital gold /means of payment, but the principles are the foundations needed to at least attempt to be any of these utilities. What its being used for today (trading primarily), does not mean it cant be used for other things down the line, if it succeeds at it.
@@KhalidTahhan consuming power to mine bitcoin does not give it intrinsic value. If you work really hard at something that produces no value, you don’t get paid for it. You can work really hard at digging a hole in the ground and filling it back in and have nothing to show for it
@@KhalidTahhan It has no value to store so it can’t be a store of value. It can process Bitcoin payments but there is no solid foundation that guarantees how much that Bitcoin will be worth when you eventually want to cash out for something real
@@mysteryedits thank you for the appropriate analogy. Digging a hole to find gold, is part of the intrinsic value of gold (production). Any value above is due to its utility. I see bitcoin mining with the same lens.
One could say the same for "Gold" though. It doesn't produce anything, yet it has held value as a trading commodity since the dawn of time.
Except Gold has a lot of history
buffet doesnt like gold either
Many will be triggered by this!! Many will flood the comment section with their "expert" analysis and 100% of these experts don't have $10,000 in savings!!!
Lmao and us yhr dumb money have 100k in cahs from trading bitcoin.
You're right. Some of us have half a million in savings.
Warren Buffett making comments about Bitcoin is kinda like Warren Buffett making comments about String Theory. Would you believe anything that Warren Buffett has to say about String Theory, or General Relativity, or the Schrödinger equation? Of course not, because he's not familiar with those topics. In the same vein, Warrent Buffett is not familiar with Bitcoin, so there is no reason why anybody should believe anything he was to say on the subject.
I'm an expert. See my comment here, I've totally refuted Buffett.
And I've got waaaaaaay over $10k bro.
@@Andrew_2414 work on your analogies as Warren Buffett is the most prolific savant of finance in human history (>20% CAGR for 60 years) and last I checked Bitcoin is a financial product. So it’s the top financial expert who would be the #1 pick in anyone’s investment draft talking about a financial product. Seems reasonable to listen to them, yeah? To enhance and correct your poor analogy, listening to you is analogous to listening to a UA-cam commenter mocking the intelligence of the top physicist in the world talking about String Theory. Because Buffett is the top financier in the world talking about a financial product. So, it’s the same as the top physicist talking about physics. You seem to view the top physicist as a minimum wage janitor talking about String Theory.
Work on your logic and analogies and embrace a bit of humility knowing you’re a UA-cam commenter thinking they know more about financial products than the guy who has a 60+ year track record of doing finance better than anyone else. I’d love to see a 1970s version of you hyping an innovative financial product that Buffett didn’t bet the farm on then. A product that was a blip in time now since long forgotten. Oddly, you’d probably sound identical to today, mocking Buffett for being a dinosaur.
LOL!
@@eggnogaddict6287 "last I checked Bitcoin is a financial product."
Speaking of humility, you should get some yourself. Check again; Bitcoin is, first and foremost, an innovation in computer science. When it comes to computers and internet technology, my 5-year-old niece knows more than Warren Buffett.
"LOL!"
The reality is that you can’t buy Bitcoin at that price. Also there’s a saying do what they do and not what they say. Buffet is one of largest investors in banks that are affiliated with crypto.
Including Tim Apple who has quite a different opinion of bitcoin and owns it personally himself.
💯
He invests in those banks because he believes in the revenue that the banks bring in. Owing shares of a bank has nothing to do with owning crypto. Like he explains in the video, the point is that crypto has no real use in the world and is an asset that generates nothing.
@@Iamwunderbar keep telling yourself that pal
@@Iamwunderbar If you were a zimbmawe/Lebanese person and had your funds in a Zimbabwe/labanese bank with a, Zimbabwe gov't printing 100% fiat a year and no access to buy US stock (which in any case would be custodied and confiscateble by a Zimbabe bank/gov't). How would you invest/protect your wealth/savings?
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Thanks for introducing me to Mrs Alice
Expert Mrs Alice she's really amazing with an amazing skills she changed my 0.3btc to 2.1btc
Who's this professional everyone is talking about I always see her post on top comment on every UA-cam video I watched
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I remember friends calling me crazy when I started but now I shut up them with my four figure weekly returned
If one person - let's call him Warren - held ALL of the Bitcoin, its network value would be less than $25. If one person held every phone in personal possession, making a phone call would be pointless. It's the NETWORK stupid.
this.
For someone so conventionally smart his arguments are completely clueless, but he is just too far behind the rate of change now. What value does gold have when less than 12% is used for manufacturing and industry..
You made no point. If one people held every phone in the world. The price will skyrocket. Phone is needed for communication and many other things.
All you have to do is show them the technology and it’s uses. Basically what every company do when they release a new product.
Bitcoin on the other hand, I have still yet to see what it’s need for that a normal currency can’t do.
@@Gabbyigi What does BTC do that fiat ("normal") currency cannot do? Given decentralization of control over a longer period, it can hold its value. Fiat currencies are guaranteed to go to zero. History is my witness. You just have to be patient... and read up on Metcalfe's Law and network effects.
@@Gabbyigi Bitcoin has a limited supply. This ensures that your purchasing power will tend upwards in time, unlike fiat where it goes down. They can print unlimited amounts of fiat. That is one of the major differences between the two.
Can the full meeting be posted in 1 piece please!!!
don't thing they would. not enough views would come from that.
Warren Buffett sounds like one of my one college finance instructors and he is 100% right.
No, he's a complete damned fool. Bitcoin is the money of the future, it's not a "worthless", and he clearly doesn't understand it's use case. Which is a shame. He's protecting his cantillionaire moat.
If you trust your countries federal/central reserve then bitcoin is pointless, but I don't and neither do a lot of people.
Yeah, people don’t get it. Modern fiat currency is a promise of value from a government, with nothing backing it up, meaning it can be manipulated and used as a tool for control by the government.
Bitcoin is the same thing, the only difference is that no one controls it, so no one can use it as a tool to abuse the citizens of a country the way the government does. Currency shouldn’t be used to control people.
Even if you do trust it, it can still provide value and utility.
That’s where you need to be logical. You can not automatically trust choice B if you do not trust choice A. I do not trust my government but that does not necessarily mean I trust anything not controlled by the gov.
until bitcoin has a standing army behind it ill go with the US dollar
@@MrBearcatjew the us army does not exclusively defend those that transact in dollars buddy. It has borders that it defends people have all sorts of assets within those borders... 🤦♂️🤦♂️🤦♂️
Before you can understand Bitcoin, understand fiat. Then you'll know why Bitcoin is important
and you are the expert
Fiat is created through lending, bitcoin is finite, in a world of bitcoin all you have is HAVES AND HAVE NOTS, that doesn't sound like a good world to me
Blockchain is the only good thing about bitcoin, and even it will be used against all
@Shinshocks I couldn't agree with you more, I won't even touch crypto, and here's why, 1. blockchain will be used against you, 2. Emp or solar flair you've lost your savings, 3. It's not edible.
"Nobody wants their windpipe stepped on and I don't like people stepping on mine", that is a new term, to me, I find appropriate to today's world. I am not old enough to remember when tulip bulbs were highly valued, but will leave the crypto and NFT market for others to profit from and learn. I hear "safemoon" is currently going for bargain prices.
Bro common
Its a 1 trillion dollar market. This is not some stupid tulip market lol
@@ChevalLemineur The tulips he's talking about were worth a lot as a whole when that happened. Basic history.
@@jonc6157 Yes, i know the old story. Its not trillions though. This is game-changing tech, not some dudes gambling and speculating on the price of flowers. Comparing the two is kind of laughable.
Safemoon isn't doing squat. My brother bought a bunch of it.
Some of the variants too. None of them are doing anything.
"It's Easier to Fool People Than It Is to Convince Them That They Have Been Fooled.” - Mark Twain.
Bitcoin can ledger and transfer an infinite amount of wealth anywhere in the world almost instantly and almost for free.
The proof of work blockchain tech as a whole renders third party validators, international wire transfers and personal bank accounts irrelievent.
If you dont understand this at this point are either a fool or in Warren's case you are a shill for corporate banking interests.
Overused quote
Perfect quote for every tRump voter and bitcoin investor!
Gradually, then suddenly.. people come to realize how bitcoin is superior money
@@bernardmailman8018 no major company, bank, government accepts and or recognizes Bitcoin as legal tender.
Those hunting and stocking up now will become millionaires soon
I agree bitcoin will ascend to the capital throne no matter what happens to the economy
Exactly, that expression "buy back your time" well thats what investing allows you to do
i was never patient and due to being an aggressive investor, lost heavily but a friend who works at fidelity investment connected me to an F.A in the person of Nicole Deanne Mckay who helped me
@@billackman5620 The crazy part is that those F.A are probably outperforming the index and raising good returns. I will give this a look, I'm really thankful that i can came across such a conversation.
Aged well
There’s no intrinsic value to crypto. He’s absolutely right. The only value is the idiot who pays more for it. It’s a bubble and one say it will burst and many people will lose everything. Companies and farms at least produce goods that can be sold. Real value. Real products.
Companies don't produce goods anymore, they produce dollars. You get a business loan at 3% interest, buy a house at 4% interest, buy a vehicle for your real estate business at 2% interest. Then do nothing and wait a few years of 10-20% inflation to cash out your short position on the dollar. This is how a fiat business operates, because the money is broken. Real value needs money to be measured. Bitcoin is money. Government money is not real money.
Warren Buffett himself has said multiple times he doesn't know technology. Bitcoin doesnt add anything but being a currwncy. But ethereum has an actual functioning product behind it
Well countries are converting to it and so are the banking systems. ISO20022 compliant tokens are utility to ices and have extreme value. I believe the IRS is not\w accepting Bitcoin … my girlfriend just bought a place in Bali they accepted, Rupie, usd and bitcoin…..warn buffet now owns bitcoin.
@@justbuffering3299 The United States and other first world countries will never weaken their dollar by legitimizing it.
Please tell me.... what's the intrinsic value of paper money ?
4:40 “there’s only one acceptable currency” yeah, tell that to third world countries that get screwed by the IMF. I understand why Warren doesn’t see value in Bitcoin, because the problem it solves couldn’t possibly be further from his world view
Well, Btc is already almost 15 years since its inception. And well, since then, Buffet still hasn't been wrong. So, don't discount his "opinion".
The IMF doesn't screw any country. Out of control corruption, "special interests" of certain groups and populist policies screw every country and keep it poor forever.
The IMF suggests pratical policies that will eventually bring about sustainable long term growth, but will require some short term pain and some groups will lose their privileges.
90 year old billionaire can't understand perspective of a poor person in a 1st world let alone 3rd world country
He understands it’s useless son
@@mattlevinson815 put your money where your mouth is
BTC is a threat to these people and their greed
BTC is great but overpriced. i would only buy it under $25000
Lol
Making money is the plan and with Bitcoin your plans can be accomplished.
That's true sir, I've been trading for some years and it has been my source of income.
@@bentleymaxwellremington1901 I've been into it for some time now, but not really seeing much benefit in it.
True, I've been Able to grow my account to a high level within a month under the guidance of a good account manager.
Yeah I've noticed that the success behind my profit in Bitcoin Investment is not solely on my skills but the help of Adrian Brayden Calebfx, the best trader I've known so far.
Do people still earn money in Bitcoin?
Saying one person owns all of Bitcoin is like saying one person owns all the money , in which case “all the money” wouldn’t have any value as well . Bc it comes down to an agreement between humans as to which and when money is worked something
Shows you how he doesnt even grasp the concept. He probably never had someone explain to him what blockchain tech is and why it IS a productive asset. In his example, he would be buying BTC farms, not BTC. Or that would be equivalent to saying you would buy 1% of the food from all farms, not 1% of the land. He's comparing apples to oranges imo.
Right, I couldn't even believe he made that comparison
@Cheval Le mineur Warren might invest in BTC farms, as the GPUs could be leased to others, but he’s not talking about the farms. He’s talking addressing buying BTC, so your comment doesn’t make sense.
@@apad thats the whole point. Hes comparing apples to oranges which leads me to believe that he doesnt quite understand what hes talking about when it comes to crypto.
That's why he's a billionaire and you're not.
He sound like he’s just on the hood side with the banks and don’t want big banks to be replaced. Bitcoin was suppose to be a decentralized currency backed by the people. Same as the dollar technically but never see him bashing the dollar
The key word here you mentioned is “supposed”. Bitcoin is “supposed” to be all kind of things but the reality is it hasn’t done any of the promises that it’s “supposed” to do. No one is using it as a medium of exchange. No one is pricing any goods/services or making loans in units of Bitcoin. In the end, Bitcoin has NOT function as money.
@@rick03168 we now pay for things with tech no need for cash
Well guess you haven’t been listening - he says the same thing about the dollar or gold.
He's talking about it as an investment and intrinsic value not a mode of payment or currency. He's said similar things about gold.
I don't want banks to be replaced. I enjoy having fraud protection, not having to worry about losing my password, and being able to earn interest.
Banks provide a valuable service, they keep your money safe. There is a reason you rarely hear about people having their life savings stolen or lost with USD.
I came here to learn how to trade after listening to a guy on radio talk about the importance of investing and how he made $460,000 in 4 months from $100k. Somehow this video has helped shed light on some things, but I'm confused, I'm a newbie and I'm open to ideas.
@Leory Ruth Interesting I’m also interested on investing, I've a huge sum of money doing absolutely nothing at all in my bank account, i wanna gets something started with it. You seem to be doing excellent for yourself, how do you achieve this?
I invest with Mrs Nora too, she charges a 20% commission on profit made after every trading session and that's fair compared to the effort she puts in to make huge profits.
Consistency is key, I've been investing with her for months now and I've made alot of profit from her. Most of those traders who offer to give you 50% of whatever you invest might scam you of your hard earned money...Forex ain't that easy you know, so i advice you also start investing with Mrs Nora because she is the best broker ever.
Well it isn't my first time of seeing her name of social platform. I think she's extremely brilliant and lucrative at same time.
Is her services outside USA?
Remember they missed microsoft Google Apple....not sure about their creditability in new technology
You forgot Tesla
YTD.
QQQ -23%
SPY -14%
IWM -18%
BRK.A +7%
Warren Buffett. What does he know? You guys are definitely way smarter
I forgot
DIA -11%
@Shinshocks You forgot to take a look at the past ten years, btc: +8,999,900%. Best invest of the decade.
Warren Buffet quote: "If you aren't really going to make investing a full-time job, just go into Mutual Funds, they do the work for you".
Index funds
he is damn right, end of story.
I love how youth ignore the wisdom of experience.
I hope you are short BTC
And we love how y’all ignore evolution
Better short bitcoin with your conviction.
Short Technology at your own peril. Technology is undefeated throughout human history.
@@OhioTies how old are you? Since when has an 18 year old kid known anything
Even though Buffett may be right, I still hope Bitcoin doesn't crash to become worthless. Not because I own any Bitcoin but because it is did go back to zero, then a whole generation of relatively young investors without much physical assets such as property, will have lost all of their hard earned savings.
They need to learn a valuable lesson. The younger the better
Teaches you two lessons: 1. Greater Fool; 2. In a gold rush, sell the pick and axes
You must be invested already in it. Did you?
Sell for what? That is the point!
@@garrysingh8387 are you indian?
@@garrysingh8387 I put 25$
@@Ambrodilplus yes
One day, Bitcoin will go down in value and no one will know why. Then again no one knows why its 40k now.
People always have to have a trendy scam to pass off to the greater fools. They pump it up 'til it pops, then it's on to the next trendy scam.
You don’t know why. The non helmet wearing people know.
Lol... Do some research
Because it is just manipulated by a single man that's why it happen all the others who support bitcoin are workers of him that one man is going to enslave humans
People call him old and says he doesn't know anything. Buddy he's a genius
Which people state he “doesn’t know anything”…I’d be eager t read those comments
I like his description of Bitcoin - some people make money on the fees but it's really just people trading money around and hoping that someone will pay more for it than you paid.
It's a new monetary system which can't be attacked or debased. It's true, hard, scarce, sound money. Buffett and you, are both wrong. And fail to understand Bitcoin.
It is so disappointing when you idolise someone for being hyper successful and insightful within a certain field, starts talking about a particular field you know alot about. And you realise they are talking out their ass! And you contemplate, is he also a bullshitter when it comes to the things I know little about!! Why would he talk about Bitcoin since he knows nothing about it? Why doesn't he, with all his experience, stay humble and within his field of expertise? Bitcoin is perfect engineered money that allows peer2peer transactions instantly, almost free and without issuing debt certificates. Bitcoin is a life changing technology for millions, already today!
Chill bro it's just his opinion
@@SuperTommy2005 chill bro its just his opinion
The only thing he says about bitcoin is that its not a productive asset and he is well qualified to talk about that. All crypto knuckleheads are the same, you always get so angry whenever someone says anything negative about it. Learn to listen to people with experience
@@12345678924439 he is just plain wrong. I earn 5% interest on my Bitcoin. Paid out every Monday. Life changing for a lot of people. My bank offers me -1.1%!!
The comments here remind me of what people were saying about Buffett in 1999, before the dot com bubble burst. 1999: “Buffett’s out of touch. He’s an idiot for not buying tech stocks at today’s prices. P/E ratios don’t matter anymore.”
Hahaha
I see some potential in Bitcoin, but the community who supports Bitcoin are honestly some of the most insufferable people I've ever met. Buffetts comments have really gotten them butthurt and I love it!
Except he's a value investor who didn't buy at inflated prices, he did and does buy tech stocks.
He owned tech stocks going into bubble and did not reduce holdings in them. He just didn't and never does buy during bubbles, he's a value investor, a disciple of Ben Graham does not buy stocks which are that inflated.
This is an out of touch statement especially when you consider the bank stocks he owns which invest massively in bitcoin and crypto.
Buffet does invest indirectly largely in bitcoin.
@@Sidious6460 Sorry you don’t understand. But I guess I’m glad most don’t understand how to value things. That’s how I got rich.
@@edf6478 LMFAO you clearly understand excellently kid 🤣
Well if you own the entirety of a single asset where the price is based on speculation then it would be worthless.
Not if its gold
@@rabs2461 gold still has some uses as a conductor, its a metal.
@@rabs2461 eh. Gold isn't solely based on speculation. It has utility and it's integral for a lot of manufacturing.
Any example of such asset ?
@Christian Guides Bitcoin has so much competition from other cryptos...endless competition. There is only one "gold".
Gold, Au, atomic number 79, a transition metal that was used for many things such as
money, and it mostly doesn't react to most of the chemicals.
Gold, Au, is a valuable solid that is the most malleable and ductile of all metals..
Buffet must know every fiat currency in the history of the world has eventually gone to zero. He cannot deny that fact.
I mean, yeah, he's says he'd willing to buy land and real-estate.
Buffett invests heavily in banks, so naturally he hates crypto.
That must be why Buffet doesn't invest in fiat currency either.
Buffet lived when jesus was crucified after the economy crashed in the temple.
It doesn’t matter what he say. He is not the only human being left in this world. Billions of people exist. So there are billion of thoughts and ideas about different things. A single person’s say doesn’t effect the whole system.
Decentralized by nature. We must stay original and not become the hive mind!
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Sounds like a few fake accounts advertising a dodgy financial service provider. I mean, really? Crypto, NFTs? In the comment section of the video of Buffet saying "bitcoin is trash"?
A perfect scarce and full transparent asset has this beautiful intrinsic mechanism of self-balancing value formation that drives its price down as the number of owners diminishes forcing the owners to distribute the asset and drives its price up as the demand for it increases by the effect of that distribution. The economics model of the bitcoin currency was so perfectly and thoughtfully designed that it make me wonder how incredible was the genius behind its creation!
You may be on to something, due to the fact it has no lending ability to generate interest. All I can say is enjoy eating your bitcoin.
So you’re ok for paying for goods when that good is priced based on the scarcity of the currency that’s used to purchase that good?
No thanks. Bitcoin needs to be centralized and regulated
@Her Eyes On Horizon then why not use 4 leaf clovers
You're describing every finite resource ever, which is every resource on earth. Bitcoin even fails its basic function of being a transactional asset. It is worthless.
@@helloitsmehb whats a block chain?. you know nothing
This is true because if somebody is willing to sell all of their bitcoin for $25 and he buys it then it’s only worth $25 and he can’t sell it back. Because the price has now been determined so who would buy it for more? Bitcoin doesn’t make any money on it’s own since it doesn’t produce anything.
What does paper money produce?
I guess what he's saying would be true except for the fact that some people and businesses are starting to accept Bitcoin in exchange for goods and services. In essence, Bitcoin is just like any other fiat currency - it's only worth what someone else thinks it's worth. That's the universal fact - the value of ANYTHING is judged by what someone else is willing to pay for it.
That was just a temporary trick by Elon to boost the value of it before he offloaded
Finally someone accepting bitcoin is fiat too. Although it is not money , not more than dollar or euro. At least the dollar and euro is backed by the governments, confidence on that country. Means, is fiat . Fiat means fiat in Latin. You guys from the US don’t even understand the meaning of fiat, but trust me, that’s it.
Not really, they "accept" bitcoin because they can convert it in dollars/euros and use that currency in everyday life. It's a minuscule part of bitcoins that is used to buy things, 99% of people treat it like a "bet". Right now it's more like gold, but without the great properties.
No, this simply isn't true. Fiat currency isn't based on _nothing._ Much to the contrary, it's based on the productivity of the country that issues it, and the expectation that it can be exchanged for a wide array of goods and services in _said_ productive economy. Bitcoin fails to fulfill this because of its astronomical opportunity costs of transaction, its inability to be divided into smaller day-to-day transactions, and the sheer vulnerability to fraud it exposes its users to.
Its lack of utility as a currency due to its high opportunity cost and spectacular volatility means it does _not_ have the intrinsic value that the dollar has. The dollar will _always_ be exchangeable for any goods and services in the most powerful economy on Earth. Bitcoin, as far as I'm concerned, doesn't have _any_ transactional value beyond its ability to be pushed onto the next idiot to walk into the market. As stated in "Line Goes Up," it's a bigger-fool scheme, and is intrinsically worthless.
If I walk into the grocery store and try to pay with bitcoin they won't take it. There is nothing backing it, that is why it is so dangerous.
respect but this guy is still on the "I'll write you a check!" bus
He did not know how to use an iPhone until around 2017. After he learned it, that is how he bought the stock. I bet you he does not understand Paypal either.
Old money doesn't have time to clickity click and have to talk back and forth with you about where to send the money and or have to worry about limits. Big money takes your name, signs on the dotted line and keeps it moving.
Did he sincerely say that "This is the only thing that is real money"? That's insane.
The dollar is based on coercion. Bitcoin is based on freedom. The choice is pretty simple.
The thing that he got wrong here is he is comparing asset classes to a currency. Currency has no value if only one person owns it.
Yes currency is only valuable when you easily use it to buy things. How easy is it to buy things with bitcoin compared to writing a check?
@@haneytr3s well there are other cryptos besides bitcoin that take less than a minute to be confirmed for only a few pennies. You can use a QR code and/or save someone’s wallet address. It’s actually cheaper and faster than Visa or Mastercard. And bitcoin itself is used as a currency on the dark web.
Once you have all the materials and information you need, it's literally easier to send Bitcoin than to write a check
@@bubbleboy821 if you were starting from scratch today and trying to decide between bitcoin and checks for everybody to use, bitcoin would have a strong argument.
That is not what is happening bitcoin is being hyped for all kinds of things but people don't use to buy things in the real world so it is more like digital gold than anything else. Most gold is stored in vaults and not used for any productive purpose, why is digital gold better than real gold.
@@haneytr3s It’s a very good thing you’re interested in the crypto space.. I am a vivid investor in these markets through a brokerage company that offers passive investment opportunities to seeking individuals.
1. I want to BUY a private purchase sale of a vehicle for $40,000.00
2. The sale is a 8 hour drive away.
3. I don’t want to carry cash on this drive because of theft or loss.
4. I can instead carry a “digital wallet” the size of a “thumb drive” and hide it on my person.
5. I can then transfer the money to the other parties “wallet.” Within a few seconds.
6. Do you not see where this is going?
People have chosen to replace their money with Berkshire money it’s called owning shares of BRK.A and BRK.B…
He just doesn't understand it yet, like he didn't understand Apple for years.
Don't take it for a currency. Take it as digital gold and you're already way ahead.
Granted he's got the same exact arguments for gold too.
You good sir are an imbecile. Go on and invest more in the ponzi scheme
What exactly is digital gold if it’s not a store of value like a currency?
Imagine calling the guy worth almost $150bn, stupid. In the end, he’s gonna have the last laugh, I just know it.
I moved $50,000 in value on a Saturday in less than 5 minutes for the equivalent of $1.50. It's the network. The dollar will not be the preferred method of transfer forever. Sadly he will be dead before he has gets to see how wrong he is.
Agreed! Times are changing and times have changed, dude was around when the stock market came about.
Yeah right, for 1.5....blatant lie.
@@prometheus5311 The "value" itself fluctuates so much that you send $50k and the receiver gets $49k or $51k
EXCELLENT POINT!!! I thought the same thing too - that the old man might live to see how wrong he is. And hopefully, will live to see his own wealth and power evaporate BEFORE he dies. Because that would be just providencial.
@@prometheus5311 if I used lightning it would have been faster for cheaper.
Here in November of 22 and bitcoin is at 17/k lmao !!!! This aged well
Now it's 50k.... Etf bitcoin is in wall st, And buffet took few bitcoins in screed... Never believe until you'r not trying something
Sure bud
@@Dankboi420 he is a genius Right?
This aged well
It’s not possible to have all the money in the world since our government continuously prints more. Your not printing more BTC
Did this guy just single handedly describe the reason we work for money for them? because if they had it all, who would they give it to? nobody would want it?....
Ill take this tinfoil off now...
You work because you need to eat.
You can leave it on, take it off, it’s irrelevant. The tinfoil doesn’t appear to be your problem. Clearly you’re intellectually incapable of parsing data and understanding fairly simple concepts. But don’t worry you’re far from unique.
Soon eating will be a luxury. What will we work for by then.
Wow who should I pay attention to, professional scammers who try to pump garbage coin and sell it to you with sprinkles on top or the greatest investors of all time who invest in real tangible assets at prices undervalued? Tough choice.
just look at the anguished goats stuck in the comments. They are bleating so loudly because they are worried that the money they put in to but BitCoins might end up going for nought.
Tell me you don't understand bitcoin or ethereum without telling me you don't understand bitcoin or ethereum.
@@uzef73 exactly!
Bitcoin and all the others are nothing but a casino game. I’m sticking with wisdom and sound advice of warren Buffett and Charlie Munger.
@@uzef73 Wow you've convinced me. I'll take some rat poison too please! Here's my life savings in exchange!
And again Warren is right.
I love discount bitcoin. Thank you sir
They’re up there peddling coke and processed foods
You guys still not getting it? Bit coins or fiat currency does not produce anything. Bitcoins value can go up or down and there will be more crypto currencies in the market. It is like a tiking time bomb which will explode. Stocks even over valued can find its place if market situation gets better over time. Plus it is producing something.
I like at the end, Buffett stated its more like magic. As Arthur C Clarke said, any sufficiently advanced technology is indistinguishable from magic. These old guys are past their time. The fundamentals are great, but they don't understand the technology anymore. Still talking about farmland and sugar water.
Because farmland and sugar water are things. Tangible assets will always outweigh something that is nothing more than an idea subject to purely arbitrary whims.
@@datubeda well said
@@datubeda And is the internet a "tangible" thing? Is Artificial Intelligence? Just because you can't touch it doesn't mean they do not have value. We've seen the value of the internet. If you can build on top of a blockchain protocol and allow for more cost efficient transactions across the world is that not valuable?
@@KLYSM92 Ai and the internet have value and uses .You might not be able to "hold" or "see" those assets but they produce value. Dont forget that those guys have the most money of their portofolio in the company that created IOS and have some other smaller bets on ai and "internet" stocks.
You can feed the country with farmland... people have to eat
I'm new to Crypto and I find it difficult using these strategies well. Where can I find a legit broker? that will manage my account and also teach me how to trade.
Check up Elisa Deborah Ramos on google. She's really one of the best and legit traders available right now.
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As a first time investor I started trading with Elisa Deborah Ramos with just a two thousand bucks; her initial investment then. Now I keep making over $12,100 trading with her weekly, Her professional strategies are really mind blowing
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@@thomasjerry5719 Elisa Deborah Ramos been really helpful.. trading went smooth for me as I was able to raise over almost 1 btc when I started at 10k in just 3 weeks of implementing trades with her signals and insights. I would advise you to trade your asset rather than hold for a future you aren't sure about.
Never invest in any thing that you can't hold or see in reality
True in soooo many ways..
This is why he is a legend! Spot on about Bitcoin. Anyone who knows finance and cash flow analysis will understand the true value of bitcoin zero. I think most people who own bitcoin is owning because someone told them or promoted in media or Elon tweeted. Truth is an assets can valued only if generates cash flow and Bitcoin has no cash flow. In my opinion Buffet is telling the facts about Bitcoin which lot of people don't like.
Most people have a problem with 5th grade math and that it the real reason bitcoin is as popular as it is. This is a scary and true statement. Plenty of people have made money off it, but then people make money off of ponzi schemes until they collapse.
You are ignoring the concept of "value".
Say you don’t know paper money is a scam without saying you don’t know paper money is a scam
so why is gold an asset? it doesn't cashflow.
A man who made good early decisions that got him rich in the fiat standard has it in his interest to speak against bitcoin, all of his friends are in high places within all the banks. When btc prevails, those banks won't exist and neither will this mans wealth. He's an old man who is far too rich than is useful to anybody. Soon his words will mean nothing, and ALOT of people will have a better life.
You do really think that bitcoin will replace banks? Are you out of your mind, to say the least?
You do realize the people you're talking about - big banks and their buddies in politics - can make bitcoin illegal any time they want?
Here's what's gonna happen: they'll create their own digital currency and tell you you have to use it.
And you'll use it because you won't have a choice.
@@hqrlock they just short it, then make it illegal and earn billions.
@@lookslikeshitdoesntit3745 exactly
@@hqrlock Sounds like someone who doesn't understand btc....
Munger's comments on crypto have certainly aged well. It is 11/17 a few days after SBF and FTX have melted down to zero. Crypto investors do not understand asset values or markets. Buffett's comments are 100% right because farmland produces goods or services that people need. Therefore, they can generate something of value.
One year later and BTC is up 250%, because FTX was *short* Bitcoin. Economics doesn't get any more basic than that.
Crypto is a scam. The fees are outrageous!
Bank fees are high aswell, means banks are scam?
$1.30 to transfer billions of dollars in minutes is too much? You might be looking at the wrong block chain.
Ethereum fees are definitely outrageous right now. But have you looked at literally anything else? Having the assumption everything is a scam is a good way to play it safe too btw. Fiats a scam, stock markets a scam, governments a scam, pubic schooling is a scam, your job is a scam, rent is a scam, a hook is a scam etc etc. You can be wrong for being right, but can you get a better savings rate than your bank and less fees? It depends on how you approach it, and if you have the attitude that everything is a scam, then maybe you've been scammed to believe that. But hey, it's a free country, where you're free to be wrong. Meanwhile I'll be making 15% on my dollar pegs. Enjoy the inflation, and thanks for saving us from the "real" scam Scam Man.
@@subcitizen2012 totally agree. I think stable coins for income are a good place to be right now. Check out UST/anchor if your goal is yield. Very juicy at 19.5% rght now.
Bitcoin fees are pennies
if you were as close to the $$ printing press as Buffett you wouldn't either
I get this as I invested in Bitcoin as a store of value and to hedge against inflation and equities. But it hasn’t done that. As the value of the dollar has dropped, and the stock market has dropped, so has bitcoin. So like if it doesn’t function as a store of value and hedge against inflation, what is the value in it and why should I keep some? I’m strongly considering selling my BTC and ETH as soon as it rallies again, can you explain why I shouldn’t?
Fadhil you are looking at it on a short term scale. Zoom out and look at the longer history. It has held its value very nicely compared to literally anything if you zoom out 2 years or beyond.
Bro just said ' I will write a 25 billion dollar cheque '
My greatest happiness is the $28,000 biweekly profit I get consistently
HOW!! I would really appreciate if you show me how to go about it.
@@jackiezakir3671 After I came across bitcoin trading platform of Mrs Cora James my financial life has totally changed, yours can also change it's just a matter of commitment and focus.
@@michaelmavels7879 Who is this Mrs Cora James?
@@hectornemo5004 She is my family's personal broker and also a personal Broker to many families in the United States, she is a licensed broker and a FINRA AGENT in the United States 🇺🇲.
Wow😮 I know her and I have also been trading with her, she's such an amazing woman with good skills keeps me happy all week knowing I earn 15thousand extra income trading with her
If you think their words have no merit, then I have some tulip NFTs to sell you.
I’m looking for some $10,000 tulip bulbs to buy also.
Just for the record when these billionaires are talking smack on BTC and telling you not to buy...their all buying it right after
Technically, if you owned all the Bitcoin it would be worthless. It's only valuable because they're an active market
(Investing in Bitcoin now should be in every wise individual list, in 2_3years time, you'll be ecstatic with the decision you made today.:)
Made $28k from crypto tradng today*
Me too. Found a way that really worked for me through someone on YouTub
lam still surprised that there are people who haven't availed themselves to the various chance on the UA-cam or other places
Exactly but l am not surprised becauseI too just started profiting from it
NANCEY ROYCE is the reason behind happiness to be honest brother. he is really God sent
I didn't understand it in 2011 at $30, and i still don't get it now. 😂
This AGED like fine wine 🍷 #FTX
You're right, it did :)
Read between the lines. "I got rich, I'm old, I can't change. I'm going to keep doing what I do"
"It isn't as if wasn't making tons of money this way."
Old men just saying this out of mind. They clearly don't see fundamentals and technology behind bitcoin.
Bitconcoin will become just like a Chipotle gift card with $1.47 left on it that you can never spend.
cope
Hahaha. We screwed like a cheap ass burrito.
Nailed it.
Love the concept of frictional cost, particularly in connection with bitcoin. The bitcoin network consumes about 200 TWh of energy per year. If we assume a cost of $0.1 per kWh, that is about 20 billion dollars per year. It is a very real cost and someone is paying it.
Yeah now imagine the cost to run [insert anything here]. Someone's gotta pay it!
All for the "participation proof", which is a nonsensical circular reference of jargon to lead an investigative mind in circles searching for the truth/value. There is none. Meanwhile, go to Wikipedia and learn how a Nuclear reactor works within a matter of 5-10 minutes.
@@bubbleboy821 That is obviously the case, but usually the cost of running something is offset by what it provides in return. Bitcoin produces nothing and (as of today) is not particularly useful as currency either, meaning it's only arguable value is as a value reserve. But if the market cap is about 700 B and it costs 20 B a year to run, its use as a value reserve costs 2.85% p.a. I don't think traditional reserves of value are nearly as expensive to maintain.
@@TheChele2 well said.
Electricity is usually priced at negative prices, at least for the big mining companies. They're actually providing stability for the grid, which provides value to the grid, so they actually get paid to run their miners.
You want to invest in real estate, you look at the rents. You want to invest in a stock, you look at the dividends. Any time you deviate from these simple basic principles of investing, you WILL get in trouble. It's just a matter of time.
How do you judge the rents to determine if real estate is worth investing? Since the problem with real estate is that the value can crash, how do you avoid such misfortune?
And with stocks, what formula would you use to determine if their dividends is worth the price of their stocks?
@@walden6272 I'll use real estate as an example because it is the most clean cut. If you are going to invest in real estate, let's say you are buying an apartment complex. Let's look at the money going out. Let's say you took a loan out. The money you have going out each month is a mortgage payment, insurance, maintenance costs, labor, etc. If you are a serious real estate investor, the money you collect from rent should generate you at least a 7,8,9% return. You need to do more than just break even, because you can get a couple percent with less risk just investing in a government bond.
The problem people run into investing in real estate is that they accept negative cash flow, because they think they will make it up on the appreciation of the property. This is the mistake people made leading up to the '08 crisis. If a property is so overvalued that it produces a negative return, the price will inevitably collapse. Those are the fundamentals people forgot about when they were speculating on real estate. They didn't base it on the core fundamentals.
I hope this makes sense to you, and I am happy to clarify if you have any other questions.
@@DaDankStrafe Thanks, that does help me understand real estate investing. Can you get into stocks and dividends a little? I don't invest in stocks because I don't like the idea that in order to make money, you need the stocks to appreciate in value. I prefer being pay dividends but I am not sure how to judge when the price of stocks is good base on their dividend return. I'm thinking there has to be a good rule of thumb. Like a friend of mine who is in restaurant business told me, when he buys a restaurant he would only buy them if their profits can recoup his initial investment in like 7 to 9 years. Anything longer he would not buy them. I am thinking of applying that rule to stocks but by looking at the price, it takes decades to recoup my investment and most stocks don't even pay dividends.
Berkshire hathaway stock is actually collapsing when measured in bitcoin since 2009.
Few.
So is anything pretty much
If u are the only one using instagram or snapchat then what is the point in that?
U can say that for every network
I don't have a problem with Bitcoin not producing anything. After all, the dollar, the yen, and the euro don't produce anything either and that doesn't stop people from investing in those currencies. But the problem I do have with Bitcoin is, it's only been around since 2008, and that is too short a time period to determine if it is over or undervalued relative to historical averages. As the old saying goes, time and me against any man (or currency).
Of corse, he's calling a bluff and he's rich enough to call one. Fact still remains that given the present state of the economy and all, it's still in our best interest to to embrace not only bitcoin/cryptocurrency but anything that's inflation resistant. My fa who made me my first million earlier this year in the peak of this inflation had been hammering on it. Guess I am now a believer, given that currently, the inflation is ripping us apart and I am not so affected.
Honestly, some of us are playing catch up...Seems very profitable... You mentioned something about an advisor. Who's he? I need somebody like that in my life...
@@EmersonFranklin65 I dont know if it's permitted here though. Name is Nancy Lynn Lewis and you can search anything info you need about her
would have been nice to have joined the early train
@@archiemcdougald5466 This right here is the second time I am coming across this name in a week,, My colleague at work seems to feel she's some kind of God sent angel,,,
Crypto is not worth the hype believe me
I never believed in bitcoin I rather invest in assets
He is worth billions, why would he even care about bitcoin?
Average people don't need to imitate whatever he says or does.
when gramps throws down knowledge and you are sitting there looking at your crypto portfolio light headed lmaoooo
If gramps bought 100MM for 10C a pop.......
LOL
That’s kind of like comparing buying EUR with USD… why would you buy EUR in exchange of USD? One answer to this is because you believe that in the future the amount of USD you traded for EUR will be worth less and the EUR will be worth more (or Vice versa) Currencies don’t have to produce anything they just need for US the people to use it in exchange of goods. We like bitcoin because its limited and doesn’t loose value like the USD,EUR,POUND or any other fiat can potentially loose value. USD sitting in my bank certainly doesn’t “produce” anything either.