If you are not familiar with Bitcoin, it is a form of money called cryptocurrency. Earlier this week, billionare Warren Buffett took a shot at bit coin, at one point even saying that it was like rat poison. Before this, Bitcoin was almost at $10000. It fell nearly 6% on and another 2% on Monday to put it around $9300. Buffet just doesn't think that any kind of cryptocurrency produce enough earnings and dividends like stocks do. The vice chairman of Bershire Hathaway, Charlie Munger was even more straight forward with it. Both of these investors have been wrong about the cryptcurrency before, so experts think that investors would be wise to ignore Buffett's and Munger's cryptocurrency bashing.
How long do you think that this decline of Bitcoin will continue, or do you think that this is just a phase?
I think that it will probably steady out and start to rise again. I do think that this a just a phase that every good stock has and it will probably begin to rise again sometime in the near future.
What are your thoughts on all of the cryptocurrencies in the world?
I used to think that it was a dumb idea to have all of these forms of money online, but now I can see why people need them. I can also see why people might think that they are all bad ideas, due to things like hacking.
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Replies
Good job! -10 late
In my opinion, I think it will probably make a come back. This type of thing happens to all stocks-- they flucuate. As for my thoughts on the cryptocurrencies, honestly I am still kind of confused about them.
Im not really sure but I think it will probably rise again... but who knows for sure. I dont know much about cryptocurrency because they seem odd and confusing, i do not know if they are good or bad ideas, everyone says somthing diferent
I think that Bitcoin, like other stocks, will continue to rise and fall through out the future, if it's popular enough, I think that Bitcoin will go back up. I don't really pay attention to stocks so I don't know much about cryptocurrencies, but they sound kind of sketchy if you have a bunch of money that only exists online.
I think it will continue. I think it is a good idea for our evolving society.
I kind of like all of the cryptocurrencies, this is much easier to buy larger items and for countries to trade. There is some concern with hacking but people with bitcoins tend to keep them very secure and its like normal money, theres going to be burglary but it will always get better.
I agree with you that it is a lot easier to for countries to trade and do somethings like that. I think that the hacking problem is a huge thing to deal with, and that it will probably be bitcoins biggest problem.
Im not sure if I think that this is just a phase or a gradual decrease. I look at other things and so I think that if its going to continue that I will adventually rise again because we are in an ago of technology and so this will stay near.
I think that it is just a phase but if Warren Buffet says that something isn't worth it I might listen. It will most likely go back up, but you never know. Crazier things have happened in the world.
It will probably rise up again, it just may take some time. It is normal for stocks to fluctuate. To be honest, I haven't really heard much about cryptocurrencies, and I don't deal with stocks. It seems pretty cool, but I have never really been interested in any of that stuff. The cryptocurrencies sound interesting, but risky.
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