So he agrees with me.
Only diff tween Charlie and me is about 20 billion
Only diff tween Charlie and me is about 20 billion
Munger says Bitcoin is trash
- Thread starter SoesWasBetter
- Start date
And when bitcoin collapses we will make sure the camera crews at your house do your makeup and lighting extra well.
BTC and other cryptos are valuable for two reasons, afict:
1) deflationary (can't print/limited supply)
2) ease of transfer outside traditional banking system/capital controls (open-source blockchain verifies transaction integrity).
Point#2 can't be overstated enough. To transfer millions in wealth by means of an electronic password, to anywhere in the world in minutes, is vastly superior to the Gov-controlled/heavily-policed/heavily-restrictive fiat system we have today....
Bitcoin and other digital currencies fill that niche where fiat fails (heavily restrictive transactions).
1) deflationary (can't print/limited supply)
2) ease of transfer outside traditional banking system/capital controls (open-source blockchain verifies transaction integrity).
Point#2 can't be overstated enough. To transfer millions in wealth by means of an electronic password, to anywhere in the world in minutes, is vastly superior to the Gov-controlled/heavily-policed/heavily-restrictive fiat system we have today....
Bitcoin and other digital currencies fill that niche where fiat fails (heavily restrictive transactions).
Glad you think a 50 character string of random digits is wealth.
Got a good price on this, you might be interested
Got a good price on this, you might be interested
"deflationary (can't print/limited supply)" - well, there might be a limited supply of coins with the name Bitcoin, but there seems to be an unlimited # of coins with different names that can do the same as or more than Bitcoin. Unlimited supply = not worth much. It will crash, rest assured.
How is that any different than a bunch of digits when I log into my internet banking? Or a bunch of "shares" in my brokerage account.
And now he holds TEVA.
Bitcoin is trash, but is a tradeable trash. Traders make money from bagholders.
There are other ways to make money in the market besides gambling with trash.
Trash doesn't necessarily equal higher profit potential.
2018
L
lovethetrade
He would say that, he's got major interests in US Banks. Whenever someone gives their opinion you should ask yourself whether a conflict of interest exists, especially when they use colourful language like "trash".
IMO, cryptocurrencies aren't trash because significant utility exists, e.g lower transaction fees and faster processing of financial transfers/payments.
IMO, cryptocurrencies aren't trash because significant utility exists, e.g lower transaction fees and faster processing of financial transfers/payments.