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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48 replies
  1. Peter Meissnitzer
    Peter Meissnitzer says:

    BITCOIN actually has REAL value , unlike FIAT currency endlessly printed , devalued daily , BITCOIN on the other hand has a limited supply and thus is similar to GOLD think of it as DIGITAL GOLD .

  2. IIAndersII
    IIAndersII says:

    3 simple signs of a bubble.

    1. The traders are inexperienced and don't understand economics/finance, or information ignored . In other words there is incomplete information among traders.

    2. The security has such a high demand, that suppliers don't want to sell, since waiting to sell will increase prices because of limited supply. In other words, extreme demand contra little supply.

    3. The security is rising very fast and gives therefore the belief of further increases. Therefore again motivates reducing supply and increasing demand.

    All 3 points are viable in bitcoin. People aren't buying the currency to use it as A CURRENCY. They buy it because they speculate it will rise further. This is my problem with Bitcoin

    When the tide shifts and there is higher supply than demand because people want to harvest their gains bitcoin will fall tremendously, since the underlying value is a lot lower than people think.

  3. legalblond
    legalblond says:

    Peter Thiel is much more knowledgeable about tech-devolopments and tech-opportunities than Buffett is. Warren himself will be the first to admit that technology is not within his circle of competence, so you should not bother too much about these mistaken views of Buffett. You should really think about what "bubbles" are: an economic bubble happens when an asset, a house e.g., is sold at prices that do not represent its true value, but is mainly driven by greed because of rising prices. There is also greed in BTC ofcourse, but its true value is given by the number of people who realize that BTC (and other crypto-currencies) get their value from their decentralized character, their speed compared to banking payments, their ability to decentralize and digitalize the economy, etc. and therefore want to buy it. I believe that number is still growing, and as long as that number of people is still growing, Bitcoin is not really in a bubble, although ofcourse there is also a significant percentage of people who are just "profit-hunters".

  4. Ray Law
    Ray Law says:

    Bitcoin is not a company-like asset it is a actually a system with trust between the community candidates. It is just like a currency system, and is USD or any other FIAT currencies system producing any value in that sense?

  5. TwistTheWrist
    TwistTheWrist says:

    When you think about a Bitcoin bubble, a lot of people including myself get scared. But when you remember how much debt we are in and the value of our fiat currencies which are literally becoming worthless, all of the sudden Bitcoin doesn't seem much more risky to be in as it is to be in fiat. The question is, is Bitcoin going to remain top dog or get weeded out by something better, and is the world ready for this kind of technology? In my opinion, not just yet, but very close. We have to establish a sense of trust that it's okay to use these digital assets in every day life. It's a HUGE step for mankind and most people don't realize that if digital currencies are going to be the new fiat, it is going to change absolutely everything. Economy 2.0.

    Let me put something in perspective for you. Humans have been on Earth for a great number of years, correct? Through all of those years, no one or nothing had ever built a micro chip for a thing called a computer until the 20th century. If you take a look at the human intuitive perspective of technological advancements which is loosely based off of Moore's Law, you'll see that technology may advance by approximately 16,000 times in 15 years. 5 years later it will have advanced by 530,000 times, and one year after that, 1,000,000 times after a total of 21 years and so on. Remember flip phones and CD's? My point is, the chart is exponential growth. It looks like it's flat-lined for a long time and suddenly shoots "straight up" into the air. Like technology, digital currencies are here to stay unless God forbid we have a nuclear holocaust or the or digital equivalent. We are nowhere near the mass adoption or "mainstream" phase yet. But when you go to sleep at night after checking the price of a $50,000 Bitcoin, you'll wake 8 hours later to see it at $250,000 and so on, so-to-speak.

    Warren Buffet and Jamie Dimon say it's worthless. They aren't stupid, they're just outdated. Do you realize the psychology behind their statements? Near instant transaction times with very minimal fees and no middle-man. No more banks. Of course if you are majority shareholder or fund manager, you will try to keep money from flowing into digital currencies if it's outperforming you somehow. They built their legacy with what they know and understand. You have to choose to adapt to survive.

    As for the question of Bitcoin remaining top dog comparatively speaking, there are some alt coins that make Bitcoin look like a bicycle vs an F1 car. There's your Bubble answer.

  6. Arcade Era Beats
    Arcade Era Beats says:

    They call it a bubble every year. Even though the US dollar itself is only backed by trust in the government. It's my opinion that bitcoin will continue to grow until it reaches 21m coins. And even after that the price will continue to rise as more coins are held or destroyed.

  7. Santhiya Pei
    Santhiya Pei says:

    I love Warren. he's meticulous, patient, honest, optimistic and totally focused on the long-term. but he's also too conservative and risk-averse. how could anyone be surprised that he's anti Bitcoin? what do you expect from a billionaire who wears bow ties, lives in a small middle-class home he's owned all his life and eats McDonald's every day? his top investment is Coca-Cola. why even bother if you're gonna invest in something that boring (not to mention destructive to people's health). Crypto is for people who embrace new technology as a means to reshape the future. this is something people of his generation simply can't fathom. he's still a wonderful guy whom I deeply respect. but I wish he'd dump the fast food garbage stocks and put his money into something more innovative and beneficial to the planet.

  8. ThoObe
    ThoObe says:

    Buffett's also against Gold and other assets that don't "produce" anything. I like this guy and his positions and I his statement regarding Bitcoin was only logical (see my first sentence).

  9. Octavia Swift
    Octavia Swift says:

    Great post Michael, Warren Buffett & his side kick Charlie are old school bankers, mortgage holders, exploitation of the working poor, that is the bubble that we want to break fees up the wazoo, bounced check fees of hundreds of dollars they charge, then recharge

  10. Vercusgames
    Vercusgames says:

    It's funny. I remember a similar theme run against Tesla, and solar in general. To this day the brainwashing worked. Most people don't know the millions of dollars they missed out on. Doesn't pay to be stupid. Not on this planet.

  11. Amit Gupta
    Amit Gupta says:

    Hey Michael @boxmining.. Or anyone willing to comment.. I can not understand why Etherium has been so sluggish valuation wise.. Its value seems to drop in a jiffy and generally in line with the market but hardly so on the gains.. And its been in this 270 – 300 plateau for such a long time..

    Any comments..?

  12. Yves Nicollier
    Yves Nicollier says:

    thx for all your videos Michael. the amount Of money in Cryptoscurrently is a joke compared to stock market or real estate or gold. I wouldn’t call it a bubble, just what goes up must correct itself and spike up Further from there. Question: why are you not talking more about ethereum? There are so many world changing projects being created on that platform, I feel it’s so important to share all these news.

  13. Drino Man
    Drino Man says:

    everything is a bubble; gotta look at it as, is it sustainable? A slowly growing bubble like the S&P is a good thing. Inflation is a bubble the dollar value is a bubble but if it happens slow than the growth will reflect the current price.

  14. Brian Fussey
    Brian Fussey says:

    There is no bubble not even close to one, when the majority of people are rushing towards bitcoin then we will have more of a bubble effect. Right now a very small percentage of people know about bitcoin or how to get involved.

  15. Eric P
    Eric P says:

    Buffett is an old-fashioned, financially conservative investor. He largely missed the tech boom because he admits he doesn't understand most of it. You can't count on any advice from him on high-risk or advanced investments simply because he can sit on the fortune he has and crank out wealth by playing it safe, something most of us can't do.

  16. Stephen Sawyer
    Stephen Sawyer says:

    Bread Wallet IOS, to keep your funds secure you need to HOLD your funds yourself! Safest way to hold Bitcoin. Also run a full node and configure Bread to only use your own full node 😉


    you have to think real long term….like 15 years from now…………btc will only have maybe 18 million coins……but 25% are conceded lost or burnt………and within the next 15 years maybe another 1 million will be lost due to newbies and mess ups…….so that would put btc at about 12.5 millions in Circulating Supply………for the whole world………btc will so rare soon…….even if you own just 1 btc you be in the top 1 % of wealth in the world…..they say if btc can capture 8% of the worlds gdp then 1 btc could be worth 228000000usd……..per unit……….hold your btc…..think 20 years from now……btc is the younger generations gold

  18. Cryptosilver Loverboy
    Cryptosilver Loverboy says:

    the Chinese communist government are truly control freaks and also how they treat their own people is extremely low as hell If people only knew. The thing is that the rich have it pretty good and the rich foreigners that live in China as well and they cannot tell you the hardcore dirty secrets like how the farmers in the cities are second class and how they are destroying millions of homes and the government wants to force a 100 million people in to medium-sized cities and to give up their land as well, they have a dirty trick as to how they are changing everything to help with Agenda 10/30

  19. Cipher Tester
    Cipher Tester says:

    Warren Buffett vs Peter who? What happens if all the bitcoins have been mined? Also the CIA probably have millions of bitcoins who do you think started bitcoin. I put my money on Buffett.


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