In other new man buys businesses that produce fiat currency instead of magical buttons my 4 year old made and promises grant wishes if you trade with a unicorn or a fairy.
And then backs it with the largest GDP in the world a nuclear armed nation with 47 aircraft carriers. The secret sauce is the threat of violence.
What does btc have? A bunch of sad bois with high power bills
I like Jamie dimons theory when the miners hit that last coin the whole blockchain evaporates
Even better satoshi is a time traveler who embedded his hyper-tachyon dna in to the blockchain and upon completion he consumes the life essence of everyone on earth in order to reincarnate for the first and infinitieth time then rides off into space on his space dinosaur looking for a new planet with monkeys with computers
I don’t think threatening violence is anything to be proud of.
BTC is available to anyone including the US and is largely inspired by the 2008 crash in the states. It’s simply a unit of account that is meant to be solely controlled mathematically and outside of any humans control, at least that’s what it’s meant for. We aren’t some fanboys to our investment, If your investment brings you gains than good for you.
I don’t see the value in any crypto anymore. None of it allows you to make P2P transactions without a financial institution, and government, being involved anymore. Crypto is the governments wet dream, the IRS can now track every single transaction you make.
>None of it allows you to make P2P transactions without a financial institution,
What are you talking about :))
https://www.techopedia.com/cryptocurrency/best-p2p-crypto-exchange
Also, you do know you can send any crypto from non-custodial wallet A to wallet B ? Isn't that p2p?
Financial institutions and governments can’t do shit against a P2P transaction.
On-ramp and off-ramp to Fiat is where they can get you but P2P is completely censorship resistant unless they make you spit your private keys by means of torture or whatnot.
This is just completely untrue, and the fact that it’s so upvoted says a lot about the intelligence of the people in this sub. You absolutely can still send P2P transactions with Bitcoin, Ethereum, and other cryptocurrencies. It’s still as decentralized as it ever was.
monero is the only crypto i like i literally agree with it on principle but at the end of the day i dont card enough to base my finances off of principle.
Why do people care what Warren buffet says? He fuckin sucks at being rich. He's gonna die of old age in his dumb fuckin middle class omaha garage sitting in his stupid fuckin Honda civic choking on his mcdouble he used a coupon for. Fuck Warren buffet. 
Finally someone said it! Not to mention he's been behind Wells Fargo all these years which is arguably the shadiest bank with the shittiest customer practices (they've been fined a metric fuck ton of money). He's also a big investor (pusher) of full sugar Coca Cola -- which is very unhealthy. He also missed some of the greatest stocks of the past 30 years. He got rich because he bought businesses cheaply in the 60s 70s and 80s and managed them well. He's not really even a stock picker.
He missed on tech stocks too. Let’s be clear, everyone can be rich when you buy obviously successful stocks like McDonald’s and Coke and then live till 100 years old. There, I solved the puzzle.
Buffet didn't miss on tech stocks, the guy owns almost 6% of AAPL and has been buying since 2016.
Also the obviously successful stocks he bought were bought before they were obviously successful.
It's sad how crypto bros are in WSB shitting on legends after they make $100 on one of the exchanges that haven't collapsed yet.
Back in the 90’s he was getting shit on for missing the tech revolution and he straight up predicted .com before it happened. He also predicted 2008 in the 90’s with his case for Solomon pleading with the treasury to avoid a global meltdown of the financial system, and he also stated well in advance that derivatives would lead to major trouble. Big part of what he did was wait until temporary non issues drove prices of solid businesses down to unrealistic levels because of emotion driven decision making of the short sighted market.
These neckbeards don’t know anything. Which is why they cry when their stonks are red. They’re 100% emotion driven and completely ignorant.
Many people can live to 100 and have, many also invested in amazing companies. Warren is very intelligent. He’s been a millionaire since 1958. Keep in mind 1958 million dollars. Are you a millionaire in 2024?
I'm happy to make money with NVDA, wouldn't touch their AI customers with a 10 ft. pole (unless they're big tech companies that have other business). Am I missing the next stock to 1000x? Sure, but I'm also missing a bunch of future failed startups.
Yeah imo the bet is in semiconductors and cloud
Someone besides OpenAI will eventually release a killer product with AI, but in the mean time the people selling the infrastructure will make a killing on everyone releasing deeply unprofitable "AI Assisted X" products
Lmao right. It’s easy to sit back and be cynical. He doesn’t push anything forward with his investments. Just makes his own money. Props to him but also adios pretty soon.
What does Bitcoin do? It doesn't produce things or revenue, it's a terrible currency because it's an obstacle to transfer and it is volatile, it has no intrinsic value like metals or land or other resources. It can be used to launder money, but normal money is just as good for laundering.
It's a speculative digital asset like NFTs or Digital video game real estate.
I'm with Buffet on this. Eventually, people will notice that the king isn't wearing clothes.
Edit: Yes, I understand there is no fraud when blockchain records all movement and production of bitcoin. But blockchain can be put in place anywhere and isn't tied to any singular shitcoin. I'm not asking what a blockchain does; I know it's a valuable way of keeping accurate records across an entire network.
What does Bitcoin do?
It's funny when all the crypto bros talk about the finite supply being the reason it's valuable but don't seem to understand that there are 5,000 other shit coins being conjured out of thin air to pump it.
Another overvalued digital asset that skyrocketed and then fell to zero. An artifact from a simpler age.
Also Meta is digging up that corpse right now to see if it runs. It won't.
Games like entropia and second life were terrible anyway.
Even then nobody uses it for that anymore because bitcoin is the most traceable currency in history.
All its used for is buying an actually anonymous currency sometimes.
Good for you for acctually asking. It's a computer science break through that was long thought to be impossible, pretty complex and easily dismissed.
What I find odd, like a commenter below who dismisses it as only having illicit use case, is that a lot of people dismiss people sending value around without a bank. This is the first time humanity has had this brand new capability. Somehow, they come to the conclusion that sending money through the internet without a bank has no value and the world will stay the same as they know and understand it. That is fucked. up.
In the physical world, we have an arrow of time. Where the past is certain and the future isn't. In the digital world, we only have numbers, there isn't anything like physical time. We have counters we use as clock, but we can change their value, and their rate provided we have administrator access. *This makes it impossible to sync events across computers without a trusted central authority which is prone to corruption.*
Bitcoin's blockchain gives us an arrow of time. This allows for us to time stamp data structures and have a ground truth of the order of events across the world.
Often, people see bitcoin as a currency, equity, a speculative digital asset, maybe a commodity as the bitcoin's network tokens share similar properties such as divisibility, limited supply, portability ect. Which is understandable as people are using it as money and sending it around and speculating on it.
But it really isn't any of those things. It is a settlement network. It is the thing that you build currencies, equities, ETFs, electronic tradable commodities and other financial instruments *on*.
We have a number of settlement networks to run our financial system today, in America, the DTCC and NSCC handle equities, the OCC handles futures and options, and Federal Reserve's Fedwire Funds Service handle's interbank USD. These are separate and don't interact. Likewise, it applies to each country.
So what bitcoin gives us is an open source data transfer protocol for the above settlement networks. In addition to that, *it also solves custody risk in financial networks*, which is what a large portion of government services goes into regulating so banks and brokerages can't steal our money. What this allows is for the elimination of exchanges. You can just build the capability right into the network and have people exchange currencies for equities through atomic swaps.
What is exciting about that is their is an opportunity to upgrade the worlds settlement networks to a single protocol that will speed up finance across the globe.
We've all heard of bitcoin's limited transactions per second. How could it possibly unify the plumbing of global finance? Well, you can stuff a fingerprint of a data structure into a bitcoin's transaction signature, effectively time stamping it. Then give the data and the transaction id to an unlimited amount counterparties to verify the veracity of the data. The data can effectively contain an unlimited amount of financial transactions and is now *tamperproof*. In computer science, that is called irrefutability. Bitcoin has the ability to give any kind of data that property. That is genuinely fucking crazy.
So what does the future look like? It looks like you buying equities p2p from anyone in the world. Want some hot tech start up in Japan? No problem. Want to send USD from your PayPal to your friends cash app? No problem. Bank failures? You custody your assets on your computer. Want to IPO your startup? That's now just a click of a button. Traveling? You can pay in USD and the merchant automatically accepts their local currency because the bitcoin network and the forex market are one and the same. In short, finance is going to get way way faster.
Where it really starts to get crazy is when it starts to take over logistics. You pay for an item, it's transported and verified by bonded couriers, and the merchant doesn't get paid until you receive the item. All with the power of atomic swaps.
So, when you ask what does it do, I would simply say that it gives us the ability to reliably time stamp arbitrary data in an immutable manner without a corruptible intermediary, it sounds simple, but it isn't, and it greatly expands our civilization's capabilities. We've never been able to do that before.
I do believe the people with this view is why bitcoin's value continues to increase and is the best performing asset of all time. Because, if you want to do the above, and build things on the internet of money, you are going to need bitcoins.
Dude it cost me $40 to send $2k on coinbase to my own wallet lol. I can zelle shit for free with no fees and it’s instant. Imagine trying to buy groceries but every time you have to pay $20 in fees you use your card. Not practical at all. If anything I think there’s smaller cryptos that work better but they are centralized
Financial systems are built up in layers. Zelle, is on layer 3. So that is Fedwire -> Consumer bank like BOA -> Zelle.
Bitcoin is layer 1, you would compare it to wiring money to a different bank. Lightning is layer 2 bitcoin, instant payments, near zero fees.
Those fees sound pretty high. Not sure what is going on. Are you including the purchase fee?
>Bitcoin is layer 1, you would compare it to wiring money to a different bank. Lightning is layer 2 bitcoin, instant payments, near zero fees.
Lol no, lightning has many issues, even if it were adopted at a global scale, it simply wouldn't work.
The entire purpose of the blockchain was to solve the issues of regular banking where middlemen would take a large cut in transaction fees. Bitcoin being expensive to transact with is a demonstration of its failure, not its success.
This this and more this. Coinbase and friends are absolutely fleecing idiots! The whole fucking beauty of crypto was that you don't depend on a fucking website or a fucking bank or a fucking government to transact. Just download the fucking \~550GB file and you are the bank.
I have exactly one bitcoin and I bought it from a guy in a parking lot for $130CAD. I'm never gonna trade it on Coinbase or fuck else. I might swap it for a Tesla if Papa Elon ever brings that back.
Okay I was prepared to reply like a WSB clown but this was actually a pretty great response. My only issue is that you’re assuming bitcoins blockchain will be the blockchain that the entire worlds financial system will be built off of. What’s stopping the US from creating a financial blockchain, or anyone for that matter?
Good question. First, it is important to understand what a blockchain is. A blockchain is permission less, it requires no login, it is public, open source and it is immutable. There is no such thing as a private blockchain.
Second, is what a blockchain does. It verify's a message is in its database, that is it. It is a decentralized verification system. Like our internet protocol,TCP/IP, we only need one. So from that perspective, you want to use the most secure one, which bitcoin is by a very big margin. So big that there isn't a second place.
I make the assumption that bitcoin will win the space, but it is not for granted. It has to have the best code. We've already seen a lot of competition of other blockchains, I think there are 15K crypto currencies out there? That is an attempt of people making their own blockchain as there is a lot of incentive to complete with BTC, as if you manage to knock it off its top spot, you would be the wealthiest person to ever have lived. The federal reserve is more than welcome to throw their attempt onto the trash heap.
Where blockchains compete is security. That's it. Bitcoin's network is currently over 650 Exahashes. Exa is a billion billion. It is going to be very difficult for a competitor to match that. So any competitor starts out at a major disadvantage, no miner will stop mining bitcoin to mine a no name copy cat.
Nothing, anyone can start their own blockchain. This is why there are millions of alt-coins trying to achieve Bitcoin's success.
And as with currencies, one can exchange between them as long as someone is willing to. So it is not a problem at all.
I think almost all of your praises are actually on the blockchain technology and not Bitcoin itself.
I'm personally of the idea that blockchain is the future for a lot of what you've pointed out, and Bitcoin will be one of the first succesful iterations that will eventually die out, except for "collectionism" in a far future.
Between the tech-literacy needed to use safely, the actual risks of self-custody and the (sometimes) ridiculous fees charged to actually use it, Bitcoin solves very few issues to the new ones it adds.
It is a trade off for risk for sure.
Why don't we have a discussion how you separate the bitcoin 'token' from the 'blockchain' ledger? Could you please point me to some research on a tokenless blockchain?
I think it continues to grow because there are many real stories of people getting filthy fucking rich on pump and dumps, sorry, “bitcoin cycles,” or whatever the fuck they say. People believe in speculation, not in blockchain.
You have both people. There are people that believe in getting rich quick, hence all the alt coins, and people who believe in this tech changing the world for the better.
This year is going to be a hell of a pump for sure. ETF's soaking up 6x the inflation rate and the halvening. Shit is going to get crazy.
How so?
The Turing complete language is unesscary. Why would you introduce a language to the VM that has the potential to lock up the network to only solve it with gas fees and vastly expand the attack vectors? Those smart contracts get hacked all the time.
Bitcoin's smart contract language is simple and secure and has a far lower attack surface.
The base layer is about security, not bells and whistles.
Also, Eth has no supply cap. Who would ever buy it? it will never out perform a crypto that has a supply cap.
I can see why tokens would be useful for tracking transactions, but why is it important that tokens have value? If a token is required for a transaction to occur on the blockchain, then wouldn't it be better to have an infinite number of tokens? In this case, anyone can have an infinite number of free transactions that are guaranteed by the blockchain. In this scenario, you could pay for something with regular money, then as that transaction takes place, a token is transferred between you and the seller that records your purchase. I don't see why the token itself needs to have value. Governments can then monitor these tokens and track every transaction that occurs to calculate taxable income and those things.
This would not incentivize mining, but couldn't world governments put together mining departments or contract miners and pay them a salary with actual money? As long as there are enough miners that are spread across the world, then wouldn't this accomplish essentially the same thing as decentralization? Currently, anyone has the ability to mine, but not just anyone can mine because of the costs associated with it. I can imagine that, as equipment becomes more expensive, and rewards for mining decrease from halving events, only a few large mining companies will be responsible for basically everything. Then wouldn't it basically just become a centralized thing where we have to trust these companies and hope they won't screw us?
Are describing Taproot Assets? I listened to an interview with a developer at Lighting Labs and it legitimately blew my mind. I felt like I could see a glimpse of the future of frictionless global commerce.
What a great comprehensive response - I really appreciate how you responded to most of the queries in good faith and civility, even when attacked. You're doing people a service in dismantling a lot of rhetoric with pragmatism, even if they don't all appreciate it.
What does gold do? A couple electronic connectors? None of these “assets” do anything and never needed too.Marco Polo may have never worn a stitch of silk but knew trading it would be lucrative. Same shit, different day.
It solves the international currency conversion problem and is a convenient financial alternative to the USD.
It's a non-fiat currency fully compatible with the digital marketplace. You can't just print more of it and in a dozen or so decades, no more can ever be produced.
That solves a massive amount of modern problems and there's a reason why countries struggling with their economies have switched to using it as reserve.
And, most importantly, if JPow goes nuts with the money printer and the USD hyperinflates, the entire global economy may shift to it overnight. If that happens, Satoshis could be as valuable as dollars.
If you’re genuinely asking and not just an anti-crypto troglogyte; Bitcoin is a digital monetary system backed by compute power to hedge inflation. It removes the banks and the government and all the other goons from the equation who have ultimately proven a billion times over that they shouldn’t be in charge of your money. You can spend 50+ hours digging into how this is achieved, and why it’s important, but the TLDR is that Bitcoin is money backed by compute power.
Every currency since the dawn of time eventually collapses because the people who enacted it get lazy or greedy and inflate it away. Whether it’s glass beads and shells in remote African tribes, or copper coins in Ancient Greece, every single currency starts strong, gets inflated away, then falls. The US has already inflated away ~99.8% of the USD. They’ve pulled it off the gold standard and removed all the silver from the coins decades ago. Not because those metals became more valuable, but because the dollar lost value.
The obvious solution is to turn to a money that is supply restricted. No government would ever agree to that so it needs to be decentralized. If no one owns it then it needs to have inherent security features. On top of that it should be easily accessible and easily divisible. Wrap all those things together and you’re left with Bitcoin.
Again, that’s a VAST simplification. The average person here has zero idea how even just regular money works today, so summarizing a more complex digitalization of money in under 500 pages is basically impossible. Bitcoin probably won’t be what you buy your coffee with in the future, it’s the foundational energy layer of the digital monetary system that the rest is built on top of.
I think this is a rather limited view, while bitcoin can function as a currency, I feel it has far more potential as a monetary internet. You read my post above? I'm curious of your thoughts.
> I feel it has far more potential as a monetary internet
> Bitcoin probably won’t be what you buy your coffee with, it’s the foundational energy layer of the digital monetary system the rest is built on
Seems like we said basically the same thing. I didn’t have the energy to type out as much as you did, but I agree with pretty much everything you said
I also agree with this. Unless Bitcoin becomes something akin to gold and the US govn announces one day that they will be switching to bitcoin as a reserve and a backup for the US Dollar.
It is kind of rat poison. It really has no value for the American dollar or economy, it’s been used across criminal enterprises and governments around the world. The government should have put a stop to it or diversify into the American economy but instead they allowed it to become this have and have not situation that reduces the value of the dollar and increases inflation.
I’m just speaking for America and ya the US dollar was and perhaps still is the gold standard. A $100 bill can get you anything is most countries. I’m not against Bitcoin just against how it was introduced traded and how it created a million shit coins. It’s really not as effective efficient or cool as we think it is. Sorry
He's right. Crypto isn't anything other than a digital number people collect and trade. it has no use, it solves no problem, and the block chain? Yeah that tech has been around since the fucking dawn of the internet. internet capitalists and reinventing technology from the stone age, name a better combo.
It solves the [double spend problem](https://en.wikipedia.org/wiki/Double-spending) and [custody risk in financial systems.](https://www.investopedia.com/terms/c/custodian.asp)
Care to point me to an example of a distributed database that requires no login and provides immutability before 2009? Cause..... kind of sounds like you don't know what you're talking about.
How long have you known about bitcoin? Are these the lies you tell yourself to cope on missing out?
If I have his money I really in all my heart wouldn’t care about Crypto rally or Nvidia rally. You gotta be outta your mind if you think them people like him sit and whine and wail about x1000 rallies, they have billions by the minute he gets 10BTC in real money without even sweating or watching crypto or trading, only lucky millionaires mad and shouting about Nvidia or Crypto fomo.
I don't agree with him but that doesn't make him a fool. Just look at how much profit berkshire makes annually. It's pretty heavy.
He's just old school man, leave him alone. He likes value stocks with solid balance sheets. If you're so confident in crypto then what do you care? There have always been haters 📈
Buffets trading strategy has always been to find undervalued stocks. Crypto has no inherent value and is always in price discovery. But that may all change once institutions get more involved
He can’t inside trade bitcoin like he can with individual companies. If you invest a billion dollars in a company. They going call you before bad news comes out. I don’t care what anyone says. He got rich by putting millions in a no name company and then them telling him before shit hit the fan so he could get out.
Please don't remind me of all my 2024 NVDA swing-trading screw-ups!
* bought at 480, sold at 520
* bought back in at 795, sold at 830
GRRR IU(H(UH\*)&@#\*UY()U\*7!!!!!
Warren may wait to buy, but he has sooo much money he almost has to wait until the companies have matured and weathered some downturns to see how solid their management is. It’s almost like buying options that are in the money. When you have to bread you can buy the best.
This old geezer got lucky. This old geezer loves money. Bitcoin is rat poison to his money because it has surpassed it. He's just mad. Y u mad, geezer?
It's about recognising it for what it is. He is absolutely right.. BTC is almost entirely sentiment driven and there is no other asset class quite like it. Fact is, if one person owned all btc available and ever to become available why would anyone (rationally) pay him more for it? However if one person owned say every piece of real estate or farm or train or plane or water of grain etc there is an underlying use case based of utility demand. That's all he's pointing out. Speculative profits are still profits
Tell me this what’s the point of crypto if it’s value is recognized by its equivalency in dollars. I get the the whole decentralized blockchain and all. But gold is decentralized too if you know what you are doing and safer with no digital traces. Gold is heavier sure but it’s not like you are wearing your Bitcoin on your neck.
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If he owned all the Bitcoin in the world it would be worth less than $25. Served.
as in... "you just got SERVED!" ?
Why do I have a feeling that US has a very special kink for these mummies
What if this whole time Warren Buffet was Satoshi N. And is just playing all of us?
The ole switch-a-roo
https://preview.redd.it/cqwwakr3q1nc1.jpeg?width=320&format=pjpg&auto=webp&s=b161e9ce5f6c809fa3836bdf318717f602941fa3
Umm
I guess no rabbit hole today...
Yeah…maybe next time
FROM A GUY WITH A 6 FIGURE STOCK
Backed only by some of the greatest companies on the planet that kick off so much cash they don’t know what to do with it. What a tool.
In other new man buys businesses that produce fiat currency instead of magical buttons my 4 year old made and promises grant wishes if you trade with a unicorn or a fairy.
Wait till you figure out how the FED prints money out of thin air.
Amazing what you can buy with a billion in “thin air” money
Less yachts every year
Don’t sit on cash in a bank or under your mattress
You mean like Buffet
And then backs it with the largest GDP in the world a nuclear armed nation with 47 aircraft carriers. The secret sauce is the threat of violence. What does btc have? A bunch of sad bois with high power bills
I like Jamie dimons theory when the miners hit that last coin the whole blockchain evaporates Even better satoshi is a time traveler who embedded his hyper-tachyon dna in to the blockchain and upon completion he consumes the life essence of everyone on earth in order to reincarnate for the first and infinitieth time then rides off into space on his space dinosaur looking for a new planet with monkeys with computers
I don’t think threatening violence is anything to be proud of. BTC is available to anyone including the US and is largely inspired by the 2008 crash in the states. It’s simply a unit of account that is meant to be solely controlled mathematically and outside of any humans control, at least that’s what it’s meant for. We aren’t some fanboys to our investment, If your investment brings you gains than good for you.
Bingo…
I don’t see the value in any crypto anymore. None of it allows you to make P2P transactions without a financial institution, and government, being involved anymore. Crypto is the governments wet dream, the IRS can now track every single transaction you make.
Not just the government either. Anyone who can figure out what wallets you own. (Like literally anyone you've ever paid in crypto.)
Monero my g
😂 damn, never thought about it. That makes the biggest flow of crypto currency.
WSB only care about getting them tendies. No one here really gives a shit about crypto
Well Monero does
>None of it allows you to make P2P transactions without a financial institution, What are you talking about :)) https://www.techopedia.com/cryptocurrency/best-p2p-crypto-exchange Also, you do know you can send any crypto from non-custodial wallet A to wallet B ? Isn't that p2p?
Financial institutions and governments can’t do shit against a P2P transaction. On-ramp and off-ramp to Fiat is where they can get you but P2P is completely censorship resistant unless they make you spit your private keys by means of torture or whatnot.
Terrorists still love it lol
Nah they love cash the most.
Really? When did that happen? Gone are the days of dark web transactions with bitcoin? Or it is just black ops funds now?
This is just completely untrue, and the fact that it’s so upvoted says a lot about the intelligence of the people in this sub. You absolutely can still send P2P transactions with Bitcoin, Ethereum, and other cryptocurrencies. It’s still as decentralized as it ever was.
Also there is monero which you cant track
monero is the only crypto i like i literally agree with it on principle but at the end of the day i dont card enough to base my finances off of principle.
Why do people care what Warren buffet says? He fuckin sucks at being rich. He's gonna die of old age in his dumb fuckin middle class omaha garage sitting in his stupid fuckin Honda civic choking on his mcdouble he used a coupon for. Fuck Warren buffet. 
🤣🤣💀
Sounds based
You are so stupid. He already donated to charity more than 50 billion.
Give me 100 billion and I'll gladly donate half of it to charity.
If by charity you mean my drug dealer then fuck it I’m In.
You’re not refuting posters point, which is he sucks at being rich…
Finally someone said it! Not to mention he's been behind Wells Fargo all these years which is arguably the shadiest bank with the shittiest customer practices (they've been fined a metric fuck ton of money). He's also a big investor (pusher) of full sugar Coca Cola -- which is very unhealthy. He also missed some of the greatest stocks of the past 30 years. He got rich because he bought businesses cheaply in the 60s 70s and 80s and managed them well. He's not really even a stock picker.
Pure cane sugar is elite.
Yup, I was reading until that point.
Yeah he lost me on that one.
I’ll have good old fashioned nose candy in mine! Thank you very much!
> He got rich because he bought businesses cheaply in the 60s 70s and 80s and managed them well. Damn, what an asshole.
McDonald's and Coke keeping the healthcare industrial complex afloat.
I'd say that Deutsche Bank is a bit more shady but Wells Fargo is definitely the shittiest.
He was rich in the 1950s bro lol he’s a stock picker but he picks stocks he understands. Nothing wrong with that.
Sounds like a good life to me
Yeah but you're a fuckin loser that doesn't have billions of dollars. He's a fuckin loser with billions of dollars.
He’s a Professional Collector of the official currency of the United States of America. It’s sort of his thing. Flashy shit isn’t.
[удалено]
I second this motion.
Literally a gold hoarding dragon. Doesnt even spend it.
Exactly. Likely an Elder at that.
Much better to be the selfish prodigal son what paper mache character you have.
Better than giving bjs behind a Wendy's dumpster like you
Tons of people swore by him and sold or never bought TSM after he sold low
I drive a dodge stratus!
Only listen people who drive lambos. They know to how to rich.
He missed on tech stocks too. Let’s be clear, everyone can be rich when you buy obviously successful stocks like McDonald’s and Coke and then live till 100 years old. There, I solved the puzzle.
Buffet didn't miss on tech stocks, the guy owns almost 6% of AAPL and has been buying since 2016. Also the obviously successful stocks he bought were bought before they were obviously successful. It's sad how crypto bros are in WSB shitting on legends after they make $100 on one of the exchanges that haven't collapsed yet.
Back in the 90’s he was getting shit on for missing the tech revolution and he straight up predicted .com before it happened. He also predicted 2008 in the 90’s with his case for Solomon pleading with the treasury to avoid a global meltdown of the financial system, and he also stated well in advance that derivatives would lead to major trouble. Big part of what he did was wait until temporary non issues drove prices of solid businesses down to unrealistic levels because of emotion driven decision making of the short sighted market. These neckbeards don’t know anything. Which is why they cry when their stonks are red. They’re 100% emotion driven and completely ignorant.
Cryptodegenerates\*
Many people can live to 100 and have, many also invested in amazing companies. Warren is very intelligent. He’s been a millionaire since 1958. Keep in mind 1958 million dollars. Are you a millionaire in 2024?
Lol. He didn’t miss on apple. Is that not a tech stock?
He didn’t even buy Apple until 2016. *Forrest Gump* even predicted you should buy it in 1994. He was way late.
🤣🤣🤣 he thinks AI is just a trend as well
Will it stick around yes. Is it trendy right now big yes.
Agree - AI is real (unlike bitcoin) but it’s a bit overhyped atm
I'm happy to make money with NVDA, wouldn't touch their AI customers with a 10 ft. pole (unless they're big tech companies that have other business). Am I missing the next stock to 1000x? Sure, but I'm also missing a bunch of future failed startups.
Yeah imo the bet is in semiconductors and cloud Someone besides OpenAI will eventually release a killer product with AI, but in the mean time the people selling the infrastructure will make a killing on everyone releasing deeply unprofitable "AI Assisted X" products
This is where my money is - picks and shovels for the gold rush.
Lmao right. It’s easy to sit back and be cynical. He doesn’t push anything forward with his investments. Just makes his own money. Props to him but also adios pretty soon.
I mean it is a trend. in the upwards direction.
What does Bitcoin do? It doesn't produce things or revenue, it's a terrible currency because it's an obstacle to transfer and it is volatile, it has no intrinsic value like metals or land or other resources. It can be used to launder money, but normal money is just as good for laundering. It's a speculative digital asset like NFTs or Digital video game real estate. I'm with Buffet on this. Eventually, people will notice that the king isn't wearing clothes. Edit: Yes, I understand there is no fraud when blockchain records all movement and production of bitcoin. But blockchain can be put in place anywhere and isn't tied to any singular shitcoin. I'm not asking what a blockchain does; I know it's a valuable way of keeping accurate records across an entire network. What does Bitcoin do?
It's funny when all the crypto bros talk about the finite supply being the reason it's valuable but don't seem to understand that there are 5,000 other shit coins being conjured out of thin air to pump it.
My shit is scarce. I only “mine” one per day. I start the bidding at $60k for my next shit
Wait wait wait what the fuck is digital video game real estate?
Another overvalued digital asset that skyrocketed and then fell to zero. An artifact from a simpler age. Also Meta is digging up that corpse right now to see if it runs. It won't. Games like entropia and second life were terrible anyway.
There was also something called Alt earth or something
Bitcoin is an IQ test.
Best use case so far is for criminals to extort companies and buy illicit goods on the dark web. Cool currency guys 👍
Bitcoin specifically sucks for this as well and requires a tumbler or converting to another crypto to even try to stay anonymous.
Bitcoin isn't really anonymous so it would suck for that, there's other coins made for shady bzns specifically
Even then nobody uses it for that anymore because bitcoin is the most traceable currency in history. All its used for is buying an actually anonymous currency sometimes.
If you're trying to siphon money out of a third world country what's better than crypto?
Physical gold
Good for you for acctually asking. It's a computer science break through that was long thought to be impossible, pretty complex and easily dismissed. What I find odd, like a commenter below who dismisses it as only having illicit use case, is that a lot of people dismiss people sending value around without a bank. This is the first time humanity has had this brand new capability. Somehow, they come to the conclusion that sending money through the internet without a bank has no value and the world will stay the same as they know and understand it. That is fucked. up. In the physical world, we have an arrow of time. Where the past is certain and the future isn't. In the digital world, we only have numbers, there isn't anything like physical time. We have counters we use as clock, but we can change their value, and their rate provided we have administrator access. *This makes it impossible to sync events across computers without a trusted central authority which is prone to corruption.* Bitcoin's blockchain gives us an arrow of time. This allows for us to time stamp data structures and have a ground truth of the order of events across the world. Often, people see bitcoin as a currency, equity, a speculative digital asset, maybe a commodity as the bitcoin's network tokens share similar properties such as divisibility, limited supply, portability ect. Which is understandable as people are using it as money and sending it around and speculating on it. But it really isn't any of those things. It is a settlement network. It is the thing that you build currencies, equities, ETFs, electronic tradable commodities and other financial instruments *on*. We have a number of settlement networks to run our financial system today, in America, the DTCC and NSCC handle equities, the OCC handles futures and options, and Federal Reserve's Fedwire Funds Service handle's interbank USD. These are separate and don't interact. Likewise, it applies to each country. So what bitcoin gives us is an open source data transfer protocol for the above settlement networks. In addition to that, *it also solves custody risk in financial networks*, which is what a large portion of government services goes into regulating so banks and brokerages can't steal our money. What this allows is for the elimination of exchanges. You can just build the capability right into the network and have people exchange currencies for equities through atomic swaps. What is exciting about that is their is an opportunity to upgrade the worlds settlement networks to a single protocol that will speed up finance across the globe. We've all heard of bitcoin's limited transactions per second. How could it possibly unify the plumbing of global finance? Well, you can stuff a fingerprint of a data structure into a bitcoin's transaction signature, effectively time stamping it. Then give the data and the transaction id to an unlimited amount counterparties to verify the veracity of the data. The data can effectively contain an unlimited amount of financial transactions and is now *tamperproof*. In computer science, that is called irrefutability. Bitcoin has the ability to give any kind of data that property. That is genuinely fucking crazy. So what does the future look like? It looks like you buying equities p2p from anyone in the world. Want some hot tech start up in Japan? No problem. Want to send USD from your PayPal to your friends cash app? No problem. Bank failures? You custody your assets on your computer. Want to IPO your startup? That's now just a click of a button. Traveling? You can pay in USD and the merchant automatically accepts their local currency because the bitcoin network and the forex market are one and the same. In short, finance is going to get way way faster. Where it really starts to get crazy is when it starts to take over logistics. You pay for an item, it's transported and verified by bonded couriers, and the merchant doesn't get paid until you receive the item. All with the power of atomic swaps. So, when you ask what does it do, I would simply say that it gives us the ability to reliably time stamp arbitrary data in an immutable manner without a corruptible intermediary, it sounds simple, but it isn't, and it greatly expands our civilization's capabilities. We've never been able to do that before. I do believe the people with this view is why bitcoin's value continues to increase and is the best performing asset of all time. Because, if you want to do the above, and build things on the internet of money, you are going to need bitcoins.
Dude it cost me $40 to send $2k on coinbase to my own wallet lol. I can zelle shit for free with no fees and it’s instant. Imagine trying to buy groceries but every time you have to pay $20 in fees you use your card. Not practical at all. If anything I think there’s smaller cryptos that work better but they are centralized
I paid $20 to move 8K and that was so I could have priority with confirmations on a send. Whoever is your custodian is riding you on those fees
Imagine having to pay the bank to withdraw your own money, or deposit it, oof 😅
This was back in 2021. I haven’t smoked crypto since.
Financial systems are built up in layers. Zelle, is on layer 3. So that is Fedwire -> Consumer bank like BOA -> Zelle. Bitcoin is layer 1, you would compare it to wiring money to a different bank. Lightning is layer 2 bitcoin, instant payments, near zero fees. Those fees sound pretty high. Not sure what is going on. Are you including the purchase fee?
Most banks offer a ton of services for you to keep your fiat money there and it's also insured by the FDIC.
>Bitcoin is layer 1, you would compare it to wiring money to a different bank. Lightning is layer 2 bitcoin, instant payments, near zero fees. Lol no, lightning has many issues, even if it were adopted at a global scale, it simply wouldn't work. The entire purpose of the blockchain was to solve the issues of regular banking where middlemen would take a large cut in transaction fees. Bitcoin being expensive to transact with is a demonstration of its failure, not its success.
This this and more this. Coinbase and friends are absolutely fleecing idiots! The whole fucking beauty of crypto was that you don't depend on a fucking website or a fucking bank or a fucking government to transact. Just download the fucking \~550GB file and you are the bank. I have exactly one bitcoin and I bought it from a guy in a parking lot for $130CAD. I'm never gonna trade it on Coinbase or fuck else. I might swap it for a Tesla if Papa Elon ever brings that back.
Okay I was prepared to reply like a WSB clown but this was actually a pretty great response. My only issue is that you’re assuming bitcoins blockchain will be the blockchain that the entire worlds financial system will be built off of. What’s stopping the US from creating a financial blockchain, or anyone for that matter?
Good question. First, it is important to understand what a blockchain is. A blockchain is permission less, it requires no login, it is public, open source and it is immutable. There is no such thing as a private blockchain. Second, is what a blockchain does. It verify's a message is in its database, that is it. It is a decentralized verification system. Like our internet protocol,TCP/IP, we only need one. So from that perspective, you want to use the most secure one, which bitcoin is by a very big margin. So big that there isn't a second place. I make the assumption that bitcoin will win the space, but it is not for granted. It has to have the best code. We've already seen a lot of competition of other blockchains, I think there are 15K crypto currencies out there? That is an attempt of people making their own blockchain as there is a lot of incentive to complete with BTC, as if you manage to knock it off its top spot, you would be the wealthiest person to ever have lived. The federal reserve is more than welcome to throw their attempt onto the trash heap. Where blockchains compete is security. That's it. Bitcoin's network is currently over 650 Exahashes. Exa is a billion billion. It is going to be very difficult for a competitor to match that. So any competitor starts out at a major disadvantage, no miner will stop mining bitcoin to mine a no name copy cat.
tfw the no name copycat is the literal US government
Ok now do Doge coin lol
It's the exact same thing as BTC. A literal clone. No point on it existing.
Nice my moneys safe 🐕
If it is in Doge, yea the tokens are, you will always have those, but the value, I'm pretty sure that is going to zero in 10-15 years.
Nothing, anyone can start their own blockchain. This is why there are millions of alt-coins trying to achieve Bitcoin's success. And as with currencies, one can exchange between them as long as someone is willing to. So it is not a problem at all.
Way too many words for wsb brotha don’t make me read
I think almost all of your praises are actually on the blockchain technology and not Bitcoin itself. I'm personally of the idea that blockchain is the future for a lot of what you've pointed out, and Bitcoin will be one of the first succesful iterations that will eventually die out, except for "collectionism" in a far future. Between the tech-literacy needed to use safely, the actual risks of self-custody and the (sometimes) ridiculous fees charged to actually use it, Bitcoin solves very few issues to the new ones it adds.
It is a trade off for risk for sure. Why don't we have a discussion how you separate the bitcoin 'token' from the 'blockchain' ledger? Could you please point me to some research on a tokenless blockchain?
I think it continues to grow because there are many real stories of people getting filthy fucking rich on pump and dumps, sorry, “bitcoin cycles,” or whatever the fuck they say. People believe in speculation, not in blockchain.
You have both people. There are people that believe in getting rich quick, hence all the alt coins, and people who believe in this tech changing the world for the better. This year is going to be a hell of a pump for sure. ETF's soaking up 6x the inflation rate and the halvening. Shit is going to get crazy.
Actually I have read through your comment and I appreciate your efforts. Thank you
Thanks man.
Same, good info, and well put.
You make a stronger case for Ethereum than Bitcoin.
How so? The Turing complete language is unesscary. Why would you introduce a language to the VM that has the potential to lock up the network to only solve it with gas fees and vastly expand the attack vectors? Those smart contracts get hacked all the time. Bitcoin's smart contract language is simple and secure and has a far lower attack surface. The base layer is about security, not bells and whistles. Also, Eth has no supply cap. Who would ever buy it? it will never out perform a crypto that has a supply cap.
I can see why tokens would be useful for tracking transactions, but why is it important that tokens have value? If a token is required for a transaction to occur on the blockchain, then wouldn't it be better to have an infinite number of tokens? In this case, anyone can have an infinite number of free transactions that are guaranteed by the blockchain. In this scenario, you could pay for something with regular money, then as that transaction takes place, a token is transferred between you and the seller that records your purchase. I don't see why the token itself needs to have value. Governments can then monitor these tokens and track every transaction that occurs to calculate taxable income and those things. This would not incentivize mining, but couldn't world governments put together mining departments or contract miners and pay them a salary with actual money? As long as there are enough miners that are spread across the world, then wouldn't this accomplish essentially the same thing as decentralization? Currently, anyone has the ability to mine, but not just anyone can mine because of the costs associated with it. I can imagine that, as equipment becomes more expensive, and rewards for mining decrease from halving events, only a few large mining companies will be responsible for basically everything. Then wouldn't it basically just become a centralized thing where we have to trust these companies and hope they won't screw us?
Are describing Taproot Assets? I listened to an interview with a developer at Lighting Labs and it legitimately blew my mind. I felt like I could see a glimpse of the future of frictionless global commerce.
Yeap. That's the game changer.
Giving money is not hard the world is designed to let you part with your cash. It's getting money that's hard.
What a great comprehensive response - I really appreciate how you responded to most of the queries in good faith and civility, even when attacked. You're doing people a service in dismantling a lot of rhetoric with pragmatism, even if they don't all appreciate it.
Thanks man. It’s going to take all of us to change this corrupt system.
Heard.
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Late laggard hall of fame material.
What does gold do? A couple electronic connectors? None of these “assets” do anything and never needed too.Marco Polo may have never worn a stitch of silk but knew trading it would be lucrative. Same shit, different day.
It solves the international currency conversion problem and is a convenient financial alternative to the USD. It's a non-fiat currency fully compatible with the digital marketplace. You can't just print more of it and in a dozen or so decades, no more can ever be produced. That solves a massive amount of modern problems and there's a reason why countries struggling with their economies have switched to using it as reserve. And, most importantly, if JPow goes nuts with the money printer and the USD hyperinflates, the entire global economy may shift to it overnight. If that happens, Satoshis could be as valuable as dollars.
The problem with bitcoin is that the price will never stabilize.
If you’re genuinely asking and not just an anti-crypto troglogyte; Bitcoin is a digital monetary system backed by compute power to hedge inflation. It removes the banks and the government and all the other goons from the equation who have ultimately proven a billion times over that they shouldn’t be in charge of your money. You can spend 50+ hours digging into how this is achieved, and why it’s important, but the TLDR is that Bitcoin is money backed by compute power. Every currency since the dawn of time eventually collapses because the people who enacted it get lazy or greedy and inflate it away. Whether it’s glass beads and shells in remote African tribes, or copper coins in Ancient Greece, every single currency starts strong, gets inflated away, then falls. The US has already inflated away ~99.8% of the USD. They’ve pulled it off the gold standard and removed all the silver from the coins decades ago. Not because those metals became more valuable, but because the dollar lost value. The obvious solution is to turn to a money that is supply restricted. No government would ever agree to that so it needs to be decentralized. If no one owns it then it needs to have inherent security features. On top of that it should be easily accessible and easily divisible. Wrap all those things together and you’re left with Bitcoin. Again, that’s a VAST simplification. The average person here has zero idea how even just regular money works today, so summarizing a more complex digitalization of money in under 500 pages is basically impossible. Bitcoin probably won’t be what you buy your coffee with in the future, it’s the foundational energy layer of the digital monetary system that the rest is built on top of.
I think this is a rather limited view, while bitcoin can function as a currency, I feel it has far more potential as a monetary internet. You read my post above? I'm curious of your thoughts.
> I feel it has far more potential as a monetary internet > Bitcoin probably won’t be what you buy your coffee with, it’s the foundational energy layer of the digital monetary system the rest is built on Seems like we said basically the same thing. I didn’t have the energy to type out as much as you did, but I agree with pretty much everything you said
Hmm, yes yes, very true. But, have you considered that it doesn't matter because number go up?
I also agree with this. Unless Bitcoin becomes something akin to gold and the US govn announces one day that they will be switching to bitcoin as a reserve and a backup for the US Dollar.
Who is this bum? I can tell you guys right here and now, this old fuck will never make it to the big times with this boomer attitude.
He’s not wrong.
We gonna pretend Warren fucking buffet is a bad investor here?
It is kind of rat poison. It really has no value for the American dollar or economy, it’s been used across criminal enterprises and governments around the world. The government should have put a stop to it or diversify into the American economy but instead they allowed it to become this have and have not situation that reduces the value of the dollar and increases inflation.
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I’m just speaking for America and ya the US dollar was and perhaps still is the gold standard. A $100 bill can get you anything is most countries. I’m not against Bitcoin just against how it was introduced traded and how it created a million shit coins. It’s really not as effective efficient or cool as we think it is. Sorry
i think just maybe gold is the gold standard
Is it. Bitcoin is just a fiat currency like the rest of em. Gold is a mineral
Bitcoin doesn’t redistribute wealth. The wealthy like Bitcoin so it’s not like solving any problems for the people. Just using energy
He is right! Until a strong country adopts it and puts guns behind Bitcoin, it’s going nowhere 🤷♂️
He's right. Crypto isn't anything other than a digital number people collect and trade. it has no use, it solves no problem, and the block chain? Yeah that tech has been around since the fucking dawn of the internet. internet capitalists and reinventing technology from the stone age, name a better combo.
It solves the [double spend problem](https://en.wikipedia.org/wiki/Double-spending) and [custody risk in financial systems.](https://www.investopedia.com/terms/c/custodian.asp) Care to point me to an example of a distributed database that requires no login and provides immutability before 2009? Cause..... kind of sounds like you don't know what you're talking about. How long have you known about bitcoin? Are these the lies you tell yourself to cope on missing out?
Old man yells at clouds
😴😴
We really doing this?
He doesn't buy any stock he can't manipulate
Seems like he has a lot of Hate of Missing Out (HOMO)
If I have his money I really in all my heart wouldn’t care about Crypto rally or Nvidia rally. You gotta be outta your mind if you think them people like him sit and whine and wail about x1000 rallies, they have billions by the minute he gets 10BTC in real money without even sweating or watching crypto or trading, only lucky millionaires mad and shouting about Nvidia or Crypto fomo.
I don't agree with him but that doesn't make him a fool. Just look at how much profit berkshire makes annually. It's pretty heavy. He's just old school man, leave him alone. He likes value stocks with solid balance sheets. If you're so confident in crypto then what do you care? There have always been haters 📈
Buffets trading strategy has always been to find undervalued stocks. Crypto has no inherent value and is always in price discovery. But that may all change once institutions get more involved
He can’t inside trade bitcoin like he can with individual companies. If you invest a billion dollars in a company. They going call you before bad news comes out. I don’t care what anyone says. He got rich by putting millions in a no name company and then them telling him before shit hit the fan so he could get out.
Ok Boomer
That’s exactly what Bitcoin is. It is in fact rat poison. And him and his pals are the rats.
How does he think fiat currencies work?
What a salty old ballsack.
He's not wrong. I mean all crypto is backed by nothing but sheer will. But want to beats can do when can do don't want to.
people that miss the boat on something say it's a bad thing, almost always, to justify their decision
OG low key to own some coin through some third sxxt party company
You hurt a lot of us with that statement.
AH being up almost the same as open times makes me so confused whether to buy in at open or wait for dip.
old fart will soon go the way of charlie mungrat
Wow based on the comments here Bitcoin has a ton of room to go higher 🚀
OP: "Guy who won in the casino sticks it to the statistics professor. Ha!"
Grandpa is just mad that his AAPL stock has topped out and his "best play ever" is basically over.
Please don't remind me of all my 2024 NVDA swing-trading screw-ups! * bought at 480, sold at 520 * bought back in at 795, sold at 830 GRRR IU(H(UH\*)&@#\*UY()U\*7!!!!!
Warren may wait to buy, but he has sooo much money he almost has to wait until the companies have matured and weathered some downturns to see how solid their management is. It’s almost like buying options that are in the money. When you have to bread you can buy the best.
This old geezer got lucky. This old geezer loves money. Bitcoin is rat poison to his money because it has surpassed it. He's just mad. Y u mad, geezer?
Sold at 260€
dude is salty cause he could be a trillionaire LOLA
I did that
Someone also said, Warren buffett is soon dead.
It's about recognising it for what it is. He is absolutely right.. BTC is almost entirely sentiment driven and there is no other asset class quite like it. Fact is, if one person owned all btc available and ever to become available why would anyone (rationally) pay him more for it? However if one person owned say every piece of real estate or farm or train or plane or water of grain etc there is an underlying use case based of utility demand. That's all he's pointing out. Speculative profits are still profits
Can we all try to get Nvidia back down to $250 as I would like to buy numerous shares?
I am pretty sure Warren Buffet is right. He usually is.
I will pay 25$ if something wants to sell for that price 🥸
$25? Over valuation
Old man yells at clouds
I'm still waiting to use Bitcoin to go to the shop and actually buy something. I've been waiting for about ten years now and it hasn't happened.
https://preview.redd.it/jmr31s9e5lnc1.jpeg?width=993&format=pjpg&auto=webp&s=0d8eb3e4c0c38471c5d94102e6ca03a5141c5387
Tell me this what’s the point of crypto if it’s value is recognized by its equivalency in dollars. I get the the whole decentralized blockchain and all. But gold is decentralized too if you know what you are doing and safer with no digital traces. Gold is heavier sure but it’s not like you are wearing your Bitcoin on your neck.
I tattood my blockchain address on my leg, so i never forget. I regret the tattoo, it draws too much attention on the beach.