Berkshire’s Charlie Munger calls bitcoin ‘totally asinine’

in #bitcoin7 years ago

There are just so many things I could say about this, but I'd only be repeating what's in the article.

Highlights such as, bitcoin is a "noxious poison", it's "totally asinine", and "disgusting", and the government needs to "step on it hard."

Of course his boss, Warren Buffett, made similar comments about bitcoin, and then admitted he knew nothing about it.

I will say though, to Mr. Munger's credit, at least in my opinion, I totally agree with his description of the American heathcare system. And I find it fitting his use of the word "groupies" to describe those who came to listen to him speak. As well as the author's observation that, "some just wanted to hear Mr Munger endorse their own views", something that Mr Munger seemed to understand perfectly.

But yet at the same time, it's important to understand, that just because a person has made some excellent decisions in life, and has done very well for himself, doesn't mean that that person is infallible or knows everything, and not capable of making mistakes, no matter his hoary head.

" Most investors will have a much harder time than he and Mr Buffett did in making money from stocks, he said,

“but I’m about to die and you aren’t. You don’t want to trade your position for mine.”

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Mistakes are made bh everyone, no matten how perfect a person is, knowledge is an ocean you can't drink it all, you cannot know everything.

Change will always find resistance. Cryptocurrency is gonna be the future definitely no matter if it gets slandered along the way. Thank you for the post.

Munger and his boss Buffet should rather stay with their stocks and not dabble into what they do not know. There is a saying that whatever you don't know you get scared of.

Its just a pity that while most people's hunts for the speech and words of these people just to validate their own takes, many more are so ignorant that they swallow everything from them hook line and sinker.

That is why they always remain poor.

great post @funny-gifts

Fuck Berkshire’s Charlie Munger, bitcoin is headed to moon even if they don't like it or they can't fill their bags cheap enough.

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Excellent friend very interesting and good information great contribution for the community thanks for sharing with us dear friend blessings, if you can support me with a vote greetings

One of the things you have to remember about Warren Buffet and his cronies at Berkshire Hathaway is that they are assets investors. They rely on fundamental analysis to evaluate companies for the investments that will last for years. They are in the least volatile area of the stock market. This is not their cup of tea and their opinions are based on their perspective and their perspective has been honed in investing that is totally alien to the crypto markets. Warren Buffet won't invest in anything unless he is going to hold it for at least a year and the companies that he invests in have a tangible product that he can understand. Crypto is foreign to this type of investor in every way, shape and form. I have nothing but the highest respect for Mr Munger and Mr Buffet, but their opinions should be taken with a grain of salt because they are out of their element. Cheers @stwbll

Is this the valet of Warren Buffet? :D Who cares what he has to say about bitcoin?

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