Daily: Buffett calls Bitcoin "Bubble" / Intel working with Ledger / Chinese Exchanges
Warren Buffett calls Bitcoin a "Bubble" as he feels it is not a "value-producing asset". However, this is countered by Peter Thiel who believes its undervalued.
0:41 Market Recap
1:56 Bitcoin Speculation and Bubble: Warren Buffett vs Peter Thiel
3:30 Intel Partners With Ledger
4:47 Japan’s Quoine - Too Much Interest to Handle from ‘Desperate’ Chinese Exchanges
4:56 China Update - Exchanges, Overseas Trading and more
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He has been through many bubbles
Warren has seen it all int the financial markets many times but I don't think that qualifies buffet is a tech expert. Peter Thiel knows his way around Tech.
I do think that there are plenty of Alt coins are going to zero
Yeah Buffet only just recently invested into Apple. Thiel is the guy that would know tech investing better than others. In the time he took that early FB investment (2003) it looked like many blockchain start ups today.
Appeal to authority - fail. Identifying asset bubbles is not a matter of tech experience, the properties of a bubble are universal in speculative markets: people are buying something solely on the expectation or hope of price increases.
I love Buffet and I think he is really smart, but i'm sure that he can't understand bitcoin that why he said that, if you look at gold marketcap its almost $7 trillion and bitcoin is barely $99 billion, this marketcap is lower than some Brazilian banks. So in my oppinion there is no bubble in bitcoin rigth now.
What would you rather own a Brazilian bank or Bitcoin. I know which one I would choose : ) Bitcoin - no contest
False dichotomy, both are terrible choices.
All his holdings in Berkshire are denoted in government currencies so the relative value of his holdings has dropped relative to those holding digital currencies, so of course, he doesn't like it.
Thanks for this post. And for the irrelevant dinosaur assclowns like buffett and diman: No one gives a crap what you think discredited banking fraudsters
Asset bubbles are asset bubbles, regardless of how much you insult the people pointing that out.
Definition of a bubble: people buying an asset in the expectation of price increases, not in response to changes in value.
Do you actually think Warren Buffet is a "banking fraudster?" Do you even know who Warren Buffet is?
Isn't everything in a bubble right now?
Isn't this the same rhetoric these guys have been spouting for years?, wonder how many years bitcoin has to consecutively increase before they change their tune?
Robert Shiller, 1996: the stock market is in a speculative bubble.
Media, 1998: So, Shiller, the stock market is up, you were wrong.
Stock market, 2000: Implodes.
The fundamental property of an asset bubble has been met for most of Bitcoin's existence: people are only buying it because they think it will go up in price, not based on the value that its network provides.
my positive view is... if bitcoin is a bubble==>in water/coca cola/beer etc, a bubbel goes up==> so bitcoin goes up.... So for me, bitcoin is a bubble. (just another point of view) ;-)
he is not in it,,,, Yet ! Lol
he is not in it,,,, Yet ! Lol