Cryptocurrencies

[james22]

13 minutes ago, Paarslaars said:

And you are too young to waste your life on threads you disagree with.

Go out, have some fun, find a nice girl or guy that keeps you away from the dangerous crypto folk.

 

I assumed he was talking about 73 Reds and the cult of Buffett.

[73 Reds]

1 minute ago, james22 said:

 

I assumed he was talking about 73 Reds and the cult of Buffett.

What cult?  My point is anyone who assumes Buffett doesn't understand BTC or anything that can be acquired for investment should check their scorecard against his.

[james22]

24 minutes ago, 73 Reds said:

Do you believe he doesn't understand everything (anything) he comments on and doesn't buy?

 

Fuck no.

 

Do you believe he has infinite bandwidth as well?

 

Seriously, do you believe he is infallible?

[james22]

1 minute ago, 73 Reds said:

What cult?  My point is anyone who assumes Buffett doesn't understand BTC or anything that can be acquired for investment should check their scorecard against his.

 

Is Tiger Woods a better boxer than Mike Tyson because he made more money as an athlete?

[73 Reds]

Just now, james22 said:

 

Fuck no.

 

Do you believe he has infinite bandwidth as well?

 

Seriously, do you believe he is infallible?

No one is infallible.  I wouldn't take his advice on relationships, politics or any number of things.  I don't even follow his advice on investing to the extent he dissuades ownership of BRK vs. SPY.   But his teachings, really his actions go well beyond words.  He was instrumental in my long-time preference of private investments over public companies.  I think you seem to confuse his failure to buy BTC with ignorance.   

[james22]

Just now, 73 Reds said:

I think you seem to confuse his failure to buy BTC with ignorance. 

 

While you assume he has failed to buy BTC only because he does understand it (as rat poison), I believe if Buffett understood BTC he'd buy it, yes.

 

Nothing would better improve BRK's prospects (and Buffett's reputation) than exchanging some of BRK's cash for BTC. 

 

I first intended to reply that even as a shareholder (15% of my portfolio), I had no real problem with him failing to buy BTC, because he doesn't understand it (being outside his circle of competency).

 

But as I think about it, I'm more than a little disappointed he hasn't taken the time to study it. I believe he has a responsibility to his shareholders to better understand the most transformative thing in finance today.

 

 

And as an admirer, I'm disappointed he's spoken about BTC with ignorance. 

 

But we'll see, and if BTC ends up successful, Buffett will look better having missed because he simply didn't understand it than if he did (as you believe) and just got it very, very wrong.

[Buckeye]

1 hour ago, james22 said:

 

Nothing would better improve

Bitcoin’s prospects (and Bitcoin’s reputation) than exchanging some of BRK's cash for BTC. 

Fixed it for you. Isn’t this what you are really trying to imply?

Edited 11 hours ago by Buckeye

[james22]

20 minutes ago, Buckeye said:

Fixed it for you. Isn’t this what you are really trying to imply?

 

BRK would be far, far more advantaged by buying BTC than BTC would.

 

But raises the question - is that what it would take?

Since no naysayer has yet answered what would convince them they were wrong, how about Buffett changing his mind?

 

Would that change yours?

[wachtwoord]

5 hours ago, Paarslaars said:

True I really don't own much EUR to be honest, most of it is in USD stocks or BTC.

 

I didn't mean Euro the currency with EUSR but European Union Socialist Republic. I call it that as they have become no different than the Sovyet Union.

[Buckeye]

12 minutes ago, james22 said:

 

BRK would be far, far more advantaged by buying BTC than BTC would.

That’s your opinion. And my opinion is that you’re wrong.  This whole exercise in tying Buffett to BTC is what BTC owners need for their confirmation bias. Just imagine how many Twitter screenshots we would see, with all of those little siren alerts “Warren Buffet buys BTC!” With all of the fans clamoring “See! See! We were right all along! Everyone should own BTC!”

12 minutes ago, james22 said:

 

But raises the question - is that what it would take?

Since no naysayer has yet answered what would convince them they were wrong, how about Buffett changing his mind?

 

Would that change yours?

No naysayer has yet answered what would convince them that they are wrong, just like no BTC fan has told us what they think BTC is worth. care to give us a number? 

 

You and I both know that Buffett isn’t ever buying Bitcoin. And as a BRK shareholder I currently agree with his position.  

[james22]

1 minute ago, Buckeye said:

That’s your opinion.

 

BTC doesn't need BRK. Ten years from now you'll look back at the adoption curve and never know if/when BRK bought in.

 

BRK doesn't need BTC either. But if BRK buys BTC you'll look back at a price chart and know exactly when.

 

1 minute ago, Buckeye said:

Just imagine how many Twitter screenshots we would see, with all of those little siren alerts “Warren Buffet buys BTC!” With all of the fans clamoring “See! See! We were right all along! Everyone should own BTC!”

 

No question, it'd be good for BTC. But it'd be better for BRK.

 

1 minute ago, Buckeye said:

No naysayer has yet answered what would convince them that they are wrong, just like no BTC fan has told us what they think BTC is worth. care to give us a number? 

 

I believe it is worth more than what it trades for today. That's why I'm 80% invested.

 

Want to answer what would convince you you are wrong?

[Buckeye]

1 hour ago, james22 said:

 

BTC doesn't need BRK. Ten years from now you'll look back at the adoption curve and never know if/when BRK bought in.

 

BRK doesn't need BTC either. But if BRK buys BTC you'll look back at a price chart and know exactly when.

 

 

No question, it'd be good for BTC. But it'd be better for BRK.

 

 

I believe it is worth more than what it trades for today. That's why I'm 80% invested.

 

Want to answer what would convince you you are wrong?

Lame answer! But I’ll give you pass:)

 

I guess I’m currently in the camp with Josh Brown who said something to the effect of…”I’ll know when people like my wife and her friends are using Bitcoin” I thought that was funny.  

[Vish_ram]

No one in the world understands inflation better than Buffett. 

 

The only way to beat inflation is to short cash (sell debt) and/or own assets that have real return. He has done it extremely well. Float is a debt. 

 

Buffett may not and need not own BTC. It is only a matter of time before BTC seeps into the corporate balance sheet. After Buffetts time, the CEO of BRK will be owning some. It is inevitable. The hardest and most embraced asset wins in the end. At 2T, we have gone past ponzi/bubble talks. The meme are just a distraction. It may even help get more people to BTC as a gateway drug.

[73 Reds]

19 minutes ago, Vish_ram said:

No one in the world understands inflation better than Buffett. 

 

The only way to beat inflation is to short cash (sell debt) and/or own assets that have real return. He has done it extremely well. Float is a debt. 

 

Buffett may not and need not own BTC. It is only a matter of time before BTC seeps into the corporate balance sheet. After Buffetts time, the CEO of BRK will be owning some. It is inevitable. The hardest and most embraced asset wins in the end. At 2T, we have gone past ponzi/bubble talks. The meme are just a distraction. It may even help get more people to BTC as a gateway drug.

BTC is inconsistent with the culture of BRK.    Why don't Ted or Todd own it now?  In fact, if the investment thesis is that obvious, why don't a majority of the folks on this board own it?  Ignorance, or lack of understanding is a very convenient excuse but I believe most people who do understand it don't own it.    Conversely, I believe most people that own it don't understand it.  

Edited 8 hours ago by 73 Reds
missed line

[james22]

1 hour ago, 73 Reds said:

BTC is inconsistent with the culture of BRK.

 

I don't believe that at all.

 

Only bitcoin as you misunderstand it is inconsistent.

 

1 hour ago, 73 Reds said:

In fact, if the investment thesis is that obvious, why don't a majority of the folks on this board own it?  Ignorance, or lack of understanding is a very convenient excuse but I believe most people who do understand it don't own it.

 

Bandwidth is probably reason number one?

 

I don't invest in JOE, for example, but not because I have decided not to. I just haven't had the time to look into it. Like most other opportunities.

 

1 hour ago, 73 Reds said:

Conversely, I believe most people that own it don't understand it.  

 

You think an investor can really "understand" a company's value better than bitcoin?

[Fly]

4 hours ago, Buckeye said:

No naysayer has yet answered what would convince them that they are wrong, just like no BTC fan has told us what they think BTC is worth. care to give us a number? 

1 BTC = 1 BTC

 

I know that seems like a BS answer but what is 1 US Dollar worth? It is not a stock with a balance sheet to analyze. A dollar is worth a dollar, plain and simple. Same holds true for BTC. 

[backtothebeach]

On 1/19/2025 at 9:25 AM, backtothebeach said:

Snapshot:

Looks like I nailed the top, ha!

 

[Buckeye]

19 minutes ago, Fly said:

1 BTC = 1 BTC

 

I know that seems like a BS answer but what is 1 US Dollar worth? It is not a stock with a balance sheet to analyze. A dollar is worth a dollar, plain and simple. Same holds true for BTC. 

Wow, thanks Fly. Very insightful. Can you please let me know when 1 BTC > 1 BTC? Then I’m buying! Shouldn’t be long now.

[Fly]

9 minutes ago, Buckeye said:

Wow, thanks Fly. Very insightful. Can you please let me know when 1 BTC > 1 BTC? Then I’m buying! Shouldn’t be long now.

I get it. “Bitcoin is for idiot crypto bros and I’m smarter than that.” 
 

Fortunately, I don’t give a shit what you think about it and the bitcoin network cares even less.  

[Vish_ram]

Here is one given by Saylor. 

The crazy thing is that no one can truly value Bitcoin. In a hyperbitcoinzation world, $ is meaningless. we can as well say 1 BTC = infinite $. hence folks are being polite to say 1 BTC = 1 BTC.

 

It all depends on various factors and the pace at which it happens.

1) Todays gold has a lot of buyers who own it as inflation hedge. It is an inferior asset and the rate at which they move to BTC changes the trajectory 

2) Today lots of folks own real estate as an inflation hedge. It is an inferior asset and the rate at which they move to BTC changes the trajectory 

3) Today lots of folks own stocks (individual securities). Many lose value over time and one needs to be smart to shift the equity from one stock to another at the right time. Stocks are inferior assets and the rate at which they move to BTC changes the trajectory 

… so on and so forth

 

So $ can be a transactional currency and BTC will be the permanent store of value. Stocks/bonds etc are be temporary/transient asset and value will eventually shift to BTC. 

 

Think of the current rich who sell their businesses for a billion $ and buy couple of Picassos to store $100-300M of value. BTCs of the future will be the Picassos for the masses

 

Edited 4 hours ago by Vish_ram

[Buckeye]

39 minutes ago, Fly said:

I get it. “Bitcoin is for idiot crypto bros and I’m smarter than that.” 
 

Fortunately, I don’t give a shit what you think about it and the bitcoin network cares even less.  

Wow, dude chill. I never said any of what you write in your quotations. Go easy on yourself.

Edited 4 hours ago by Buckeye