You must be joking about BTC ever getting to $1000 in the future. For your own sake, I hope you are joking.
BTC to be at sub $400 level today.
BTC to be at sub $400 level today.
Bitcoin bear market
- Thread starter recession2016
- Start date
Buffett said bitcoin is essentially an updated version of writing a check or sending someone a money order.
The people pumping this fancy money order are the early adopters that hold most the bitcoins and ASIC miners printing new bitcoins. Reminds me of people buying penny stocks and trying to convince the public to buy.
The people pumping this fancy money order are the early adopters that hold most the bitcoins and ASIC miners printing new bitcoins. Reminds me of people buying penny stocks and trying to convince the public to buy.
yeah yeah yeah. He is rich and must know everything about anything. Cmon meng....I think Mike summed it up earlier in this thread. This is a younger generation Idea. That old fart wouldn't know the value of a movement this big. Besides he is in Bed with the Fed.
The technology may be new, but currencies and stores of value have been around for thousands of years.
I don't believe Buffett is right 100% of the time, but where is the intrinsic value in a made up product that can be easily duplicated? I mean why should I pay you $400 for a bitcoin? Why is the value that high? I don't see it, and I think once the smoke clears most people will wonder the same thing.
I couldn't fail to notice that you didn't have an argument against his opinion. So why did you post at all???
Don't kill the messenger, kill the argument... Oh, but that would be hard....
The 2 things are not always related. A chair is easily copied, but as long as you can sit your fatass on it, it still has intrinsic value....
You are talking more about high evaluation, not intrinsic value, and yes, an easy to copy thingy shouldn't have a high price....
It's right on support as I type this. Looks like a buy, for any bitcoiners with ballz
Yes, I'm saying it has both problems. Little to no intrinsic value, and it's easily copied.
That's a VERY bad recipe.
A chair actually takes raw materials, man power or robotic power, shipping, marketing and so on. The entire premise of bitcoin is very easily copied, by anyone with some brainpower and a computer (and likely an office chair to sit on in front of their computer
)