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Started By
Message
Apparently ole Charlie Munger isn't a fan of crypto
Posted on 2/16/22 at 11:18 pm
Posted on 2/16/22 at 11:18 pm
LINK
Warren B's elder buddy had some comments about crypto
Now go get off the 98 year old man's lawn...
Warren B's elder buddy had some comments about crypto
quote:
Speaking during a shareholder Q&A session Wednesday at the annual meeting for Los Angeles-based newspaper chain Daily Journal Corp. of which he is chairman, the 98-year-old Munger ripped bitcoin and other cryptos as “beneath contempt,” claiming its main usefulness is for extortion, kidnappings and tax evasion.
quote:
“I’m proud of the fact I’ve avoided it… it’s like some venereal disease.”
quote:
I admire the Chinese for banning it. I think they were right and we were wrong to allow it.”
quote:
But on Wednesday, Munger said he was fine with at the possibility of the U.S. Federal Reserve launching its own digital currency, though he questioned the point.
“The Federal Reserve could have a currency if they want one…we’ve got a digital currency already, it’s called a bank account. The banks are all integrated with the Federal Reserve system.”
Now go get off the 98 year old man's lawn...
9
Posted on 2/17/22 at 12:32 am to LSUFanHouston
He has had the same opinion on crypto for many years.
Posted on 2/17/22 at 6:34 am to LSUFanHouston
quote:
the 98-year-old Munger ripped bitcoin and other cryptos as “beneath contempt,” claiming its main usefulness is for extortion, kidnappings and tax evasion.
Posted on 2/17/22 at 7:02 am to LSUFanHouston
Actions speak louder than words
Charlie Munger Calls For Crypto Ban As Berkshire Hathaway Sinks Money Into Crypto Business
Charlie Munger Calls For Crypto Ban As Berkshire Hathaway Sinks Money Into Crypto Business
Posted on 2/17/22 at 7:15 am to LSUFanHouston
quote:
98-year-old Munger ripped bitcoin
How is this news? It shouldn't be surprising that someone born before the invention of vacuum tube computers doesn't understand crypto.
This post was edited on 2/17/22 at 7:16 am
Posted on 2/17/22 at 7:18 am to LSUFanHouston
He is right.
At some point the house of cards will crash. The article is poorly written. BH is investing in the operating platform of crypto - not the coin itself.
At some point the house of cards will crash. The article is poorly written. BH is investing in the operating platform of crypto - not the coin itself.
This post was edited on 2/17/22 at 7:23 am
Posted on 2/17/22 at 7:23 am to KillTheGophers
quote:
At some point the house of cards will crash.
Posted on 2/17/22 at 7:32 am to LSUFanHouston
Old Charlie is just mad because he listened to Moscona and YOLOed into GameCoin
Posted on 2/17/22 at 8:37 am to seawolf06
quote:
Actions speak louder than words
quote:
Nubank does not directly facilitate crypto trading, but its investment unit called NuInvest allows users to invest their money in various crypto assets and Bitcoin exchange-traded funds (ETF).
That is a reach to call it a crypto business. It is just another option provided to their clients, like almost every other trading platform out there.
Posted on 2/17/22 at 10:56 am to KillTheGophers
quote:
At some point the house of cards will crash.
No, it won't. Sorry, but we've been hearing this for years and it hasn't happened. There are no signs that it will happen ever.
Posted on 2/17/22 at 11:05 am to LordSaintly
You can certainly lose a lot if you're in the wrong tokens
But there is crazy money to be had if you're in the right tokens
But there is crazy money to be had if you're in the right tokens
Posted on 2/17/22 at 11:42 am to LordSaintly
quote:
No, it won't. Sorry, but we've been hearing this for years and it hasn't happened. There are no signs that it will happen ever.
Posted on 2/17/22 at 12:25 pm to Jon Ham
I don't understand your post...
Posted on 2/17/22 at 12:48 pm to LordSaintly
quote:
I don't understand your post...
Must be an age thing..
Wiki on Beanie Babies
It was a good 7-8 year run
Posted on 2/17/22 at 12:54 pm to LSUFanHouston
quote:
tax evasion
I'm not a fan of crypto but I'm sure Charlie has gotten away with murder in regards to taxes over the years.
Posted on 2/17/22 at 1:21 pm to BottomlandBrew
quote:
How is this news? It shouldn't be surprising that someone born before the invention of vacuum tube computers doesn't understand crypto.
It's not a surprise he's not a fan.
Calling it a "venereal disease" is pretty interesting.
Posted on 2/17/22 at 3:24 pm to LSUFanHouston
quote:
claiming its main usefulness is for extortion, kidnappings and tax evasion.
Posted on 2/17/22 at 7:04 pm to KillTheGophers
quote:
At some point the house of cards will crash.
Lol I not a crypto guy but your outlook is laughable
This post was edited on 2/17/22 at 7:05 pm
Posted on 2/17/22 at 8:20 pm to Strannix
No kidding. The stock market is completely juiced by the fed. If the pandemic didn't prove that then nothing will.
This post was edited on 2/17/22 at 8:22 pm
Posted on 2/17/22 at 8:37 pm to BottomlandBrew
quote:
How is this news? It shouldn't be surprising that someone born before the invention of vacuum tube computers doesn't understand crypto.
Few people that have pumped their money into crypto understand it, at least Munger has the sense to not put his money into something he doesn’t understand.
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