Warren Buffett on Bitcoin

ElCubano said:
Anyone who would disown a grandchild for having spoken her opinion is an IDIOT.
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Agreed.

Buffett is a media darling and portrayed as a kindly old Midwestern gentleman, but he's as cold hearted and cutthroat as they come.

In addition to publicly disowning his granddaughter, he was an absentee father and husband. He also had multiple affairs while he was married. Finally his wife moved to San Francisco and he stayed in Omaha. They stayed married but never lived together again for 27 years until she passed away in 2004.
 
I'm not Warren Buffett champion, but the fact that he still lives in the same house that he bought 50 years ago or had a falling out with a grandchild isn't very relevant to his Bitcoin stance.
 
clacy said:
I'm not Warren Buffett champion, but the fact that he still lives in the same house that he bought 50 years ago or had a falling out with a grandchild isn't very relevant to his Bitcoin stance.
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But what IS relevant, is that he doesn't have any knowledge about technology, the internet, social-networks or Crypto-protocols. So why would his stance have any value? It's the same as asking my opinion about American-football (while I'm a Soccer fan).
 
Hoi said:
This will be fun !

A real wager for 300 Bitcoins against one single Share of Class A. Berkshire Hathaway stock :)

If Bitcoin's price is (about) above $756 in one year time, then the winner takes $183,860

http://www.reddit.com/r/Bitcoin/comments/20gkdx/legitimate_wager_300_bitcoins_vs_1_class_a_share/
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That wager proves Buffett's point. USD in, USD out.

Q: How is 300 Bitcoins being determined to be worth one share of Class A. Berkshire Hathaway stock?
Q: What currency will determine the winner?
 
This is a funny thread. The cultists attack his personal choices (aka shooting the messenger) or making invalid analogies to his company stocks, but nevermind a valid defense against his arguments...

I guess cultist is as cultist does... :)
 
warren buffett's presents an image.

He pretends he cares about the little guy and taxes... yet moodys ( a company he has a big stake in) helped his banker buddies swindle the country and pension funds out of billions or trillions by mis rating mortgages pools.

The guy is a shark. Whether he is telling the truth about bitcoin or not is probably more related to his holdings or his FED ties than the truth itself.
 
FXforex said:
That wager proves Buffett's point. USD in, USD out.

Q: How is 300 Bitcoins being determined to be worth one share of Class A. Berkshire Hathaway stock?
Q: What currency will determine the winner?
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No, not the wager but the outcome of the wager, proves or disproves Buffet's point (which is if it is a "mirage" or not). And be aware: this wager is Initiated by a Buffet-lover who challenges the Bitcoin-community.

Buffet's point isn't USD in, USD out....That's YOUR point. Which isn't any important any way. Bitcoin's protocol has many, many features. One of it's features is to move currency (USD or EURO, Yen, etc), from one point on the globe to the other side, very fast, very cheap and highly secure. And this is Great! This feature is what Western-Union hates most about Bitcoin.

Answers to your Questions:
1) Just the price both exchanges, on a 24 hours average at March-16 2015.
2) the currency of choice, very probably converted to USD, but if you want EUR or BTC, it will be fine as well.
 
Hoi said:
Buffet's point isn't USD in, USD out....That's YOUR point.
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ALL Bitcoin discussions and transactions revolves around its value in USD.

USD > Bitcoin > Product > Bitcoin > USD
which is the same as:
USD > Product > USD
 
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