Quote from: bitcoinveda on November 20, 2017, 06:15:03 PM

In his latest visit to his hometown of Omaha, Nebraska, where he hosts a casual event for business students, one of the attendees asked Warren Buffett a question about Bitcoin. As a clarification, Buffett went on to say that cryptocurrencies like Bitcoin are a very effective way of transmitting money, and you can do it anonymously and all that, but it doesnt mean much in the grand scheme of things: A check is a way of transmitting money, too.

Are checks worth a whole lot of money just because they can transmit money?. He finished his statement with a harsher criticism of Bitcoin, saying that the idea that [it] has some huge intrinsic value is just a joke, in my view.

Buffett tends to lean towards investing in things that have a sustainable inherent value. Meanwhile, Bitcoin is surging past the $8,000 mark even after the SegWit2x drama left its future uncertain.

Although theres no denying that its subject to more volatility than most fiat currencies, theres a lot to be said about its utility in the market as more stores begin to accept payments in the cryptocurrency. Warren Buffett might not be keen on the idea of pumping capital in Bitcoins direction, but other players want a piece of the pie, each for their own reasons.

https://cryptovest.com/news/warren-buffet-the-idea-that-bitcoin-has-value-is-just-a-joke/

As somebody who has read Benjamin Graham's (his professor) books I totally understand the point he comes from.

Bitcoin has a price, but it has no value.

It ins't irreplaceable, it isn't unique, it has no assets, just the consensus around its price which can change any day.

I really wonder how people can truly disagree with the fact that Bitcoin has no "value". Value is an intrinsic property of something. Stocks represent a portion of a business, assets, cash flow, market share, real estate, patents, ecc. Currencies do not represent any of that, not just crypto currencies.

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