Re:Warren Buffett: ‘Stay Away’ From Bitcoin
by atestu on Saturday March 15, 2014 @01:28PM
(#7405290)
People don't just listen to him because he's famous – do you think they'd listen to Kanye about Bitcoin? – they listen to him because he's the greatest investor alive.
Re:Warren Buffett: ‘Stay Away’ From Bitcoin
by nawitus on Saturday March 15, 2014 @04:45PM
(#7406366)
If he can't provide good arguments then his opinion is all but irrelevant.
You should read about his involvement with Blue Chips. Here is a Wikipedia link[0] that sheds some light into the subject. Buffett is not against different currencies. Its mostly the fact that bitcoin is not supported by anything. It is merely a bubble.
Re:Warren Buffett: ‘Stay Away’ From Bitcoin
by thatthatis on Saturday March 15, 2014 @01:28PM
(#7405288)
The last time he made similar statements in 99-01 about zero intrinsic value in most Internet stocks he was fairly rapidly vindicated.
Re:Warren Buffett: ‘Stay Away’ From Bitcoin
by colechristensen on Saturday March 15, 2014 @01:32PM
(#7405303)
Buffet's status and fame come more or less entirely from his nearly unequaled life-long skill at picking long-term quality investments. He has more than earned the respect to be able to say something like this and be believed.
Re:Warren Buffett: ‘Stay Away’ From Bitcoin
by nawitus on Saturday March 15, 2014 @04:45PM
(#7406361)
Status is irrelevant, but arguments are relevant.
[deleted]
Re:Warren Buffett: ‘Stay Away’ From Bitcoin
by omarrr on Saturday March 15, 2014 @01:37PM
(#7405327)
I disagree.
Here's a comparison of the interest of the public in Bitcoin and Myspace. Now consider the value of Myspace in the present and the value of Bitcoin in the future: http://www.google.com/trends/explore#q=bitcoin%2C%20myspace&...
There's no telling what will happen to bitcoins, but my point is, interest is no sign of value. Now if I could invest in cats, that would be a different story.
Re:Warren Buffett: ‘Stay Away’ From Bitcoin
by sillysaurus3 on Saturday March 15, 2014 @04:34PM
(#7406293)
Just in case this was a reply to my now-deleted comment: Sorry about that. I deleted it because I replied to the wrong comment. I reposted it elsewhere: https://news.ycombinator.com/item?id=7405339
I guess media is to be blamed here to some degree. If someone is famous, then the media will make a story about anything that increases ad revenue. And also users of social media like Hacker News.