Post: #26

(11-13-2017 04:21 AM)Maciano Wrote:  I listen to good investors, and Buffet is the best of them. However, I don’t see much arguments here I haven’t heard or seen refuted over the years.

I don’t get why all these finance guys, gold bugs, bankers, economists etc., can’t just say: “hey, bitcoin is not for me. Pass” and leave it at that.

They just keep repeating the same stuff about tulips, Ponzis, bubble, whatever. The crypto space itself is getting worse and worse re bitcoin: the biggest threats come from our own scene at the moment.

Yet, here we are: bitcoin almost reached $8000 last week.

Some people seem to like it.

Buffet et al are making these public pronouncements with the goal of keeping the price low while they accumulate their positions.

The last thing they want is to trigger a mania before they've built up their BTC holdings.

BTC has been around for nine years now and is not going away.

Alt coins are a different story. Most of them are overvalued and won't be around in the future after the market sees their white paper promises evaporate.

Post: #27

everyone who wanted to multiply his money big time already bought Bitcoin when it was 0.50 $

now only dumb money, the masses read the newwspapers and are moving in on Bitcoin,
while the big names investors (smart money) are selling and counting their very nice profits

Post: #28

(11-14-2017 12:32 AM)fenetre Wrote:  Buffet et al are making these public pronouncements with the goal of keeping the price low while they accumulate their positions.

The last thing they want is to trigger a mania before they've built up their BTC holdings.

Bitcoin is a war on the dollar. A further sign we are inching toward Idiocracy.

Its laying the ground work for a global currency, controlled and run by global elites. Its anti-whatever country you are in, dollar, pound, euro, etc. Libertarians are egregiously ignorant to believe that we are now upon a non-controlled global currency. That will never happen.

Naive investors, (emotional, non-patriotic, economically ignorant), I call it the Tim Ferriss investor, swayed, inspired and influenced mostly by click bait, as they have been for their whole lives, are the cheer leaders for Bitcoin.

No, Warren Buffet is not Mr Burns from the Simpsons, putting out false information. He is taking the position that almost anyone with a true stake in the economy have done so far, and that is to call this for what it is. A creation of click bait. A tool that is sucking money out of the economy, and mostly something that degrades and devalues your home currency, and the companies/entities that employ you, your friends, family and community. Its a war on your country.

Post: #29

(11-10-2017 03:11 PM)Vincent Chase Wrote:  Thanks for the clickbait title, is this CNN?

This is nothing than an 87 year old man commenting on technology. He was years late in investing in the tech sector (he passed on Amazon, Google and Apple) and he probably has no inkling on blockchain technology. It is not worth a thread.

I don't exactly agree with Warren here but he was criticized in the very same way when it came to the dotcom bubble. Had he went heavy into that tech market would the amazon/google gains beat all the losses he would have taken? Who knows.

My biggest concern with Bitcoin is that the reason many people buy it is because they think somebody else will be paying 50,000-500,000$ per coin in the future(I didn't get this vibe from most in 2012-2016). Maybe they are right but maybe a good idea/technology has grown into a speculative nightmare backed by millennials who are looking to get rich quick.

Post: #30

I'm not an investor in anything and I don't know anything about Bitcoins, but like most people who know nothing about a topic, I still have an opinion.

If gold crashed, women would jump at the opportunity to own gold jewelry while prices were cheap. Corporate stocks are always likely have an inherent value so long as the underlying company has value, as purchase of the majority of the stocks is literally the same as owning the company.

I'd still be hesitant about investing in either and would always prefer to invest in my own business entities where I can play an active role in getting a return greater than the 10-15% the stock-market is likely to get me.

Honestly, I think the way that stock markets (on whatever exchange) are setup is really retarded, which is evidence by the number of laws and enforcement of those laws that has to be in place to prevent people from using the stock market in illicit ways.

I'd be much more interested investing in a stock exchange where stock price is based on the real value of a company. Anything else is statistically similar to gambling in a casino that typically pays off about 10% over a year.

I'm not going to invest in Bitcoin because I doubt that I'll have the insight or maturity to sell at the right time. Even if that day will never come, the fact that I think it could makes me part of the problem.

Post: #31

(11-19-2017 01:10 AM)Jaydublin Wrote:  I don't exactly agree with Warren here but he was criticized in the very same way when it came to the dotcom bubble. Had he went heavy into that tech market would the amazon/google gains beat all the losses he would have taken? Who knows.

My biggest concern with Bitcoin is that the reason many people buy it is because they think somebody else will be paying 50,000-500,000$ per coin in the future(I didn't get this vibe from most in 2012-2016). Maybe they are right but maybe a good idea/technology has grown into a speculative nightmare backed by millennials who are looking to get rich quick.

The market capitalization of bitcoin is already over 140 Billion dollars,
which is insane, considering the fact that less than 30,000 people worldwide
actually use bitcoin

Post: #32

This was you about a week ago.

Quote:The 110 billion dollars market capitalization of Bitcoin is completely absurd and it shows how a top of a bubble looks before bursting

This is you today, after bitcoin's market cap increased more than 25%.

Quote:The market capitalization of bitcoin is already over 140 Billion dollars,
which is insane

Keep saying it's a bubble, and some day you'll be right. The demand for bitcoin will have peaked.

That's not happening anytime soon though.

Supply is limited and demand only increasing. What do you think happens to the price when that happens?

Post: #33

Can you trade in like tenths of a Bitcoin?

Post: #34

(11-25-2017 09:20 AM)Sonoma Wrote:  Can you trade in like tenths of a Bitcoin?

Yes, even less. On GDAX the minimum for BTC trades is 0.01, so around €72 right now.

Post: #35

(11-19-2017 07:18 AM)kuros Wrote:  The market capitalization of bitcoin is already over 140 Billion dollars,
which is insane, considering the fact that less than 30,000 people worldwide
actually use bitcoin

Use (daily) or own? There are certainly much more than 30,000 people who own btc. As a rough indicator, bitcointalk has 1,335,404 registered members.

Post: #36

Quote:Supply is limited and demand only increasing. What do you think happens to the price when that happens?

This is not really a desirable trait for a currency in a growing economy. Eventually bitcoin will reach a point where it is far too scarce of a resource to satisfy the monetary needs of a global economy. When this happens, demand will at the very least stop increasing and will very likely plummet and reach equilibrium for uses where its unique advantages are most valuable.

I don't know how long BTC will continue to rise and I'm not making any kind of investment advice. But I strongly believe that unless something else kills it first, or unless the global economy stops growing, bitcoin's inflexible scarcity will be its undoing.

Post: #37

2/3ds of all bitcoin have been mined, 1/3rd of those may be lost



I would say that at some point in the next 10 years, the effects of this scarcity limitation will start being felt.

Post: #38

Class A shares of Berkshire Hathaway (BRKA) is worth over $200,000.

I personally think that bitcoin has more value than a Berkshire Hathaway class A share.

Post: #39

CEO of chasebank is doing the same thing as buffett. Both have in interest in prices remaining low for the time being. Also, don't want to get driven out of business.

Post: #40

(11-27-2017 11:48 AM)Blaster Wrote:  

Quote:Supply is limited and demand only increasing. What do you think happens to the price when that happens?

This is not really a desirable trait for a currency in a growing economy. Eventually bitcoin will reach a point where it is far too scarce of a resource to satisfy the monetary needs of a global economy. When this happens, demand will at the very least stop increasing and will very likely plummet and reach equilibrium for uses where its unique advantages are most valuable.

I don't know how long BTC will continue to rise and I'm not making any kind of investment advice. But I strongly believe that unless something else kills it first, or unless the global economy stops growing, bitcoin's inflexible scarcity will be its undoing.

You do realize it's not an actual coin, right?

It's infinitely divisible. You can send/receive 0.00000001 bitcoin.

Post: #41

(11-30-2017 05:03 AM)RichieP Wrote:  

(11-27-2017 11:48 AM)Blaster Wrote:  

Quote:Supply is limited and demand only increasing. What do you think happens to the price when that happens?

This is not really a desirable trait for a currency in a growing economy. Eventually bitcoin will reach a point where it is far too scarce of a resource to satisfy the monetary needs of a global economy. When this happens, demand will at the very least stop increasing and will very likely plummet and reach equilibrium for uses where its unique advantages are most valuable.

I don't know how long BTC will continue to rise and I'm not making any kind of investment advice. But I strongly believe that unless something else kills it first, or unless the global economy stops growing, bitcoin's inflexible scarcity will be its undoing.

You do realize it's not an actual coin, right?

It's infinitely divisible. You can send/receive 0.00000001 bitcoin.

Yes, I realize they are divisible. If they weren't divisible, the problem would already be obvious. The point isn't that there aren't enough physical units for everyone to have some, the point is that new parties need access to usable amounts of money. Deflationary currency biases hoarding, which is the opposite of what you want for a growing economy. It leads to a lopsided scenario that isn't sustainable.

Suppose you want to sell an ebook. Your audience needs to have bitcoin to pay you with. If the audience of people interested in reading your books only have tiny amounts of BTC, but they have plenty of value in dollars, then you're going to accept dollars or go hungry. This dynamic happening across a large general economy will obliterate the utility of a currency, no matter how nifty its technological features. Right now, it's hard to notice because bitcoin mining has been generating new currency at a rate that has kept pace with its growing use as a medium of exchange. But based on that graph, the turning point is starting now, the only question is how long is it going to take until the effects are felt.

It's likely to wind up as a useful way to store value (like precious metals) and enable a variety of technological advantages over traditional currency-- ease of electronic exchange, smart contracts, and such. But it's not going to replace "fiat" currencies any time soon.

Post: #42

I hope for his sake he didn't try to short it.

Post: #43

(11-14-2017 12:32 AM)fenetre Wrote:  Buffet et al are making these public pronouncements with the goal of keeping the price low while they accumulate their positions.

The last thing they want is to trigger a mania before they've built up their BTC holdings.

Can you show us some proof of Buffett accumulating a position in Bitcoin?

Post: #44

Why yes, I have Warren Buffet's personal bank account history right here!

...

Or not.

Post: #45

(11-29-2017 02:59 PM)Dragan Wrote:  CEO of chasebank is doing the same thing as buffett. Both have in interest in prices remaining low for the time being. Also, don't want to get driven out of business.

No they have interest in collecting a nice spread while gamblers are willing to pay any price to get in. Shows how little you know...

Post: #46

(12-02-2017 02:18 AM)SamuelBRoberts Wrote:  I hope for his sake he didn't try to short it.

If you knew anything about Buffett you'd know the answer.

Fitting that people roped into this mania can't even get the greatest investor of all time's name right lol. Really says a lot about who we are dealing with here.

Post: #47

(11-11-2017 09:01 PM)SamuelBRoberts Wrote:  What don't they understand? They understand it perfectly.

The price is going up because of FOMOers and unregulated wash trading, as well as Bitfinex's use of Tether as a form of printing money to buy bitcoin. The instant this area gets regulated the bubble bursts and we're down to... well, I don't know where. 1K? 500$? 2k? I don't feel comfortable saying where.

Ok maybe I was too hard on you. But yes it will keep going higher until the gamblers are exhausted. Anyone's guess when that will happen. The numbers have no meaning.

Post: #48

(12-02-2017 02:55 AM)SamuelBRoberts Wrote:  Why yes, I have Warren Buffet's personal bank account history right here!

...

Or not.

No need to be snarky, just trying to separate the conspiracy theories from the actual discussion.

Post: #49

Institutions are loading into BTC in 2018.

$50,000+ next year

Post: #50

(12-02-2017 02:34 PM)Que enspastic Wrote:  Institutions are loading into BTC in 2018.

$50,000+ next year

How much money is really going to come in though?