Cryptocurrency

[CUDA]

I hope It goes away,.

Ethan RotbergSun, May 30, 2021, 1:00 PM·5 min read









Bitcoin's in a slump — here's why Warren Buffett has hated it all along
The past month and a half has been bumpy for Bitcoin.
After a bully first quarter of 2021 that led to an all-time peak of $63,000 per unit in mid-April, the world's leading digital currency has since lost more than 40% of its value, settling at just over $35,000 on Friday, May 28.
Holdout investors who only a couple of months ago may have thought they’d missed an opportunity of a lifetime are now sighing with relief; meanwhile, those who bought in at the peak are trying not to think about their losses.

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And what about Warren Buffett? What would world's most famous investor say to those who might be thinking of firing up their investment apps and buying Bitcoin at a bargain price.
It’s “probably rat poison squared,” Buffett once said.
'Contrary to the interests of civilization'



IgorGolovniov / Shutterstock
While Buffett chose not to comment on cryptocurrency during his company Berkshire Hathaway's annual shareholders meeting earlier this month, Berkshire vice-chairman Charlie Munger pulled no punches on the subject.
"I don’t welcome a currency that’s so useful to kidnappers and extortionists," Munger said during the meeting's much-watched Q&A session. "The whole damn development is disgusting and contrary to the interests of civilization."
Not to be outdone, Buffett has made his share of extremely cutting remarks about Bitcoin and cryptocurrency over the years: “I don't have any Bitcoin. I don't own any cryptocurrency, I never will,” he told CNBC in 2020.
Here are three reasons Buffett won’t go near it.
1. It has ‘no unique value at all’



Larry W Smith/EPA/Shutterstock
The billionaire investor doesn’t like Bitcoin because he considers it an unproductive asset.
Buffett has a well-known preference for stocks of corporations whose value — and cash flow — come from producing things. But cryptocurrencies don’t have real value, Buffett said in a CNBC interview in 2020.
“They don't reproduce, they can't mail you a check, they can't do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person's got the problem.”

[David]

Bitcoin is too volatile to use as money, so I see no purpose. But I don’t care if it stays or goes. I don’t own any.

[SCT]

At least now, I see cryptocurrencies as an investment more than a currency.

[LakeFever]

Buffets scared, wow. Remember all, the stock market is propped up by all the QE poured into it and the bonds are insured against it. The CB rates are as low as they can go, theres no other moves they can make to fake the values....

[powerabout]

At least now, I see cryptocurrencies as an investment more than a currency.

gamble is the word you were looking for...

[LakeFever]

gamble is the word you were looking for...

This differs from traditional investing how?

[powerabout]

This differs from traditional investing how?

ya mean insider trading, no gamble in that

[David]

My financial advisors pick companies that they think have growth potential to invest in. There is the underlying value of a company behind the stock. Bitcoin, and to an extent, gold are worth whatever people think they are worth. At least gold has some underlying value as a metal for jewelry and electrical connections. Bitcoin has no intrinsic value at all.

At the end of the day I see all currency as 'fiat'. There is no underlying value behind dollars, pesos, or bitcoin. Gold is over valued as an actual useful metal so I don't think it is real either.

[powerabout]

My financial advisors pick companies that they think have growth potential to invest in. There is the underlying value of a company behind the stock. Bitcoin, and to an extent, gold are worth whatever people think they are worth. At least gold has some underlying value as a metal for jewelry and electrical connections. Bitcoin has no intrinsic value at all.

At the end of the day I see all currency as 'fiat'. There is no underlying value behind dollars, pesos, or bitcoin. Gold is over valued as an actual useful metal so I don't think it is real either.

The fundamental difference is fiat currencies can earn interest and in bonds thats guaranteed by that government.
Thats why we call it money.

[SkywayGT]

My 100 dollar investment into a memecoin...

Netted me 42k.

I bought another boat.

HODL!

[Lake X Kid]

At least now, I see cryptocurrencies as an investment more than a currency.

Like Art the value is how much someone else or the public values it and will pay for it.

Cryptocurrencies at the right time when to invest when its low and sell high, is probably going to make some people a major profit.

[donsharpe]

Nowadays the cryptocurrency has raised more than we thought. Anyways if you have to pay in BTC or Crypto then you can use Twitch donations.

[CDave]

Can you buy a Hunter Biden painting with crypto?

[Pulse186]

If warren bufet doesn't like crypto why does he spend any time at all talking about it, maybe it scares him because he doesn't understand this young'un stuffs.