https://gizmodo.com/warren-buffett-all-bitcoin-world-25-dollars-assets-valu-1848866967
I mean what does Warren Buffett know about investing?
I mean what does Warren Buffett know about investing?
OT: Probably nothing
- Thread starter horshack.sixpack
- Start date
It was Cinco de Mayo, 2018 when Buffett called bitcoin "rat poison squared". bitcoin was trading under $10k. He said he'd be glad to buy a five-year put. May 2023 is just 12 months away.
For those that want to buy puts on bitcoin: FTX Derivatives
You can currently buy a put for 1 BTC for March 31 2023 at a strike of $25k for $2300. It comes close to matching Buffett's timetable in 2018, but you can get it at a MUCH better price.
Since "rat poison squared" BRK is up a little over 60%. bitcoin is up a little over 300%.
For those that want to buy puts on bitcoin: FTX Derivatives
You can currently buy a put for 1 BTC for March 31 2023 at a strike of $25k for $2300. It comes close to matching Buffett's timetable in 2018, but you can get it at a MUCH better price.
Since "rat poison squared" BRK is up a little over 60%. bitcoin is up a little over 300%.
Interesting stuff
Unbiased scorecard from anonymous source I saw floating around the internet today. Me vs Warren Buffett. Interesting stuff. #Bitcoin pic.twitter.com/PA34rh0Sma— Dave Portnoy (@stoolpresidente) May 2, 2022
Unbiased scorecard from anonymous source I saw floating around the internet today. Me vs Warren Buffett. Interesting stuff. #Bitcoin pic.twitter.com/PA34rh0Sma— Dave Portnoy (@stoolpresidente) May 2, 2022
Think perhaps Dave needs to check his math on Buffett’s $67 million in 1978 dollars. That’s equivalent to almost $300 million in 2022 dollars, which is his basis for comparison. Makes you wonder if he actually believes the dumb **** he retweets.
it means he can't buy politicians and minions to protest the ceo of bitcoin
ETA - maybe he's trying to **** on it to buy more?:
Then there's this:
According to the February 14th US SEC filing, Warren Buffett’s company, Berkshire Hathaway, recently dumped $1.3 billion worth of Mastercard stocks. The firm followed the move by also selling $1.8 billion worth of Visa shares, as well.
However, Buffett decided to buy $1 billion worth of Nubank shares, which is intriguing, as this is a crypto-friendly bank located in Latin America. The bank became quite well known for offering products such as the Bitcoin ETF.
The move has surprised many, as Buffett is quite well known for his past criticisms of Bitcoin, and the crypto industry in general. In the past, the investor called cryptocurrency “rat poison squared.”
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Opened this to comment on the reality of inflation, but someone did that good work already.
Its not meant to be a serious tweet while meaning to be a serious tweet. Pretty typical.
In the picture, Buffett is holding up US currency as an example of what money actually is. That stuff is only money because the US Gvt has declared it has value and is backed by the full faith and credit of the US Gvt. So if the US Gvt backs Bitcoin and says Bitcoin's value now backed by the full faith and credit of the US Gvt then Bitcoin is suddenly 'worth' whatever it happens to be valued at.
I dont disagree with Buffett- his comments about farmland and rental properties make sense. And clearly he has made more correct decisions than wrong decisions in his long life. Even still, his reasoning about what is or isnt money is pretty weak.
I dont disagree with Buffett- his comments about farmland and rental properties make sense. And clearly he has made more correct decisions than wrong decisions in his long life. Even still, his reasoning about what is or isnt money is pretty weak.
I disagree. I think USD holds its value over the long term pretty well. 1 USD = 1 USD.
This has already been addressed.
Your face is ignorant sir. https://t.co/xPgadrnOaR— Dave Portnoy (@stoolpresidente) May 3, 2022
Your face is ignorant sir. https://t.co/xPgadrnOaR— Dave Portnoy (@stoolpresidente) May 3, 2022
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I expected more from someone whose empire is built on agitating and picking fights.
This sounds like he's the man selling shovels to the gold miners, not a miner himself. There's a big difference.
Bitcoin can only be bitcoin if a government does not tie its monetary policy to bitcoin?
I get what you are saying, it needs to stay decentralized, but this entire scam is based on the concept of it being currency. If the US Gvt said 'we recognize Bitcoin as a legal currency', are you saying Bitcoin would cease to be? Well thatd be a hilarious way for the scam to end.
Ah, so your take is that inflation doesn’t actually exist. Interesting. If that’s the case, there’s sure as hell no need to be hedging against it with any form of decentralized digital currency.
I'm just relieved people are giving up the "government will ban it" FUD. The "government will embrace it, which will kill it" FUD is much more creative.
There is a difference between recognizing Bitcoin as legal currency, and backing it with full faith and credit of the US Government as stated in your first post. If the latter happened, then Bitcoin would just become a digital dollar (not literally $1, but tied to the US dollar's value). That is not what Bitcoin was created to be, and it would lose most of its volatility in value.
His legacy was built on dollar transactions. He's like a lot of other people
who as they age they tend to cling to what they know. I can only imagine the shock that took place when, years ago, bartering and trading precious metal coins gave way to paper currency. Now we're transitioning again to a new paradigm and the elderly will be the last to adopt it like they usually are. I'll probably go through the same phase later in life, but it really is interesting observing people like buffet who were terrific value investors but shun new technology even as it becomes mainstream.
who as they age they tend to cling to what they know. I can only imagine the shock that took place when, years ago, bartering and trading precious metal coins gave way to paper currency. Now we're transitioning again to a new paradigm and the elderly will be the last to adopt it like they usually are. I'll probably go through the same phase later in life, but it really is interesting observing people like buffet who were terrific value investors but shun new technology even as it becomes mainstream.
Easy. Move the contents of Fort Knox to the curb. Replace with bitcoin.
Probably fit way more in there because it's way lighter.
Probably fit way more in there because it's way lighter.
I am a crypto skeptic, but I wouldn't call it a scam. The US Dollar has value because people trust that the fed/US gov't won't destroy it (or maybe more accurately will control the rate at which it loses value) and because the US government, which controls a lot of territory where profitable business takes place and also has a lot of guns, requires that US taxes be paid in dollars.
Bitcoin has value because people trust that the supply is effectively limited and trust that other people will continue to value it.
Obviously, the bit about the paying taxes is a pretty big thing that supports the value of the dollar, but so is the limited supply of bitcoin. Gold has actual value as a metal for some purposes, but it's not clear to me that the price of gold is related to its ability to be used for certain physical purposes. Other than the fact that that provides it some psychological support, just like the requirement to use dollars to pay taxes, it appears that gold has more or less been valuable because other people think it's valuable for centuries now? Just hard to say how important that actual floor on the value of gold and to a lesser extent dollars is to supporting people considering them a store of value just because other people consider them a store of value.
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