Is Warren Buffett Right To Attack Cryptocurrencies?

Discussion in 'Forex - Currencies Forums' started by longtermbull, Jan 13, 2018.

  1. longtermbull

    longtermbull Administrator Staff Member

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    Warren Buffett is just one of many experienced investors who have been attacking the concept of cryptocurrencies with particular focus on those which have no asset backing. Should we be listening to Warren Buffett as opposed to the ramblings of politicians and governments around the world?
     
  2. manoharb

    manoharb Senior Investor

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    We are living in Democracy so everybody have own opinion. You, me and Warren Buffet also. I share same opinion so I will never invest in Cryptocurrencies. Other investors have own opinion. In my country, Employees get salary in INR and Govt. never said, We will pay salary in particular Cryptocurrency so Cryptocurrency is Very High Risk in India so I will stay away from it. But Japanese Govt. and cos. are ready to pay salary in Bitcoin. That's affordable to country like Japan.

    https://www.engadget.com/2017/12/15/japanese-company-gmo-internet-paying-salaries-bitcoin/

    So according to Country, self-interests differs, and Bitcoin monopoly can do Economic invasion of any country with weak leadership and Economy. which will cause wars,anarchy as well so who dream to make money by investing in Cryptocurrencies are under threat without Asset Backing and Proper actions of Govt.. I bet my money on Gold, Silver because, I am 100% sure, sooner or later It will give me better returns when Cryptocurrencies will start invasion of countries, or Govts. of different countries will unite together to take rid of Poverty, Corruption, Terrorism, Pollution etc..

    Cryptocurrency is a pure gambling so I will stay away from it.
     
    Last edited: Jan 15, 2018
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  3. longtermbull

    longtermbull Administrator Staff Member

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    I totally agree about freedom of speech and different views because ultimately these are what make a market. If we all had the same views and the same strategies, how boring would life be on stock market!
     
  4. Chartman

    Chartman Senior Investor

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    Personally I think it is very healthy to have two strong opposing views on any particular asset. Different views and different strategies are what effectively make markets and even the most popular assets should still be able to withstand criticism.
     
  5. longtermbull

    longtermbull Administrator Staff Member

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    Warren Buffett does not get it right all of the time - he ignored tech shares for years as he did not understand the high ratings and then he finally gave in. He recently admitted he was wrong to ignore the new tech sector and especially regretted missing out on Amazon.
     
  6. manoharb

    manoharb Senior Investor

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    Present Opinion is, Cryptocurrencies started Economic Invasion as predicted before, and We saw 150 USD rise in Gold in just 8 Weeks. China's quarterly GDP at 6.2%, US-Iran, UK-Iran war tensions, BREXIT, Anti-Russian Sanctions, EU Rate Hike Delay.............. All these have impacts on Global Market.

    Slowdown in Equity markets will cause huge damage to Long-term Equity investors and If Global Politicians wants to protect that, then only way is, Take decisions in favor of Equity Markets and Boost them from Current stage. Gold Long-term Technicals are showing 1600-1900 USD Targets but It should not happen in 6 months, It should happen in 6+ Years.
     
  7. Buyonthedips

    Buyonthedips Senior Investor

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    Maybe this is an example of over exagerated state control and "people" needing to take back control. Maybe it is as simple as that?
     
  8. gowiththeflow

    gowiththeflow Senior Investor

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    Warren Buffett has been less than complimentary about technology shares in the past but he is now an avid investor. Will we see the same pattern with cryptocurrencies?
     
  9. Andris

    Andris Member

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    I love what cryptocurrency stands for and I am sure it is the only money that can meet up with the demand of modern civilization or technology advancement.
     
  10. Buyonthedips

    Buyonthedips Senior Investor

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    Whether people like them of not, cryptocurrencies are here to stay - they will only grow in influence.
     

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