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Author Topic: bitcoin is a rat poison?  (Read 2212 times)
Mandoy
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June 23, 2017, 07:26:38 AM
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https://www.reddit.com/r/Bitcoin/comments/6iubil/warren_buffet_said_bitcoin_is_rat_poison/

This post in reddit is very controversial as different groups are arguing as to who is the person responsible for calling bitcoin as a rat poison. The debate is still going on as one side says that  Charlie Munger and the other parties said that it was Warren Buffet. I dont know what or whom to believe. So anyone among you who knows the real story and is willing to share who is the real culprit.


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June 23, 2017, 07:32:25 AM
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Reading all those posts on a matter I find not really controversial reminds me how childish we can be sometimes. I don't understand such a debate...let anyone say whatever they wanted to say about Bitcoin because eventually as years would go by Bitcoin can always vindicate itself.

Bitcoin is not perfect and in fact Bitcoin is not for everyone. There are people who don't believe in Bitcoin and that is perfectly fine. There are countries who are threatened by Bitcoin and so they block Bitcoin and that is fine with me. Without these people, Bitcoin can go on and on. In fact, having people who are not really helping Bitcoin can even add more problem and pressure to the boat we are in.

However, I find it refreshing how people in Reddit can get so emotional over something about Bitcoin. That is actually good as we need an active, bubbly, loyal and defensive community around Bitcoin.
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June 23, 2017, 07:32:37 AM
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I have no idea who Charlie Munger is but people are claiming he was the one who said that and not Warren buffet. I also see no difference personally, just because he is a legendary investor, It doesn't make his words 100% true, he could be right or wrong just like anyone of us, It will take time to know for sure. It's no secret that some people are trying to spread FUD though and no one should take it seriously.

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June 23, 2017, 07:44:31 AM
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https://www.reddit.com/r/Bitcoin/comments/6iubil/warren_buffet_said_bitcoin_is_rat_poison/

This post in reddit is very controversial as different groups are arguing as to who is the person responsible for calling bitcoin as a rat poison. The debate is still going on as one side says that  Charlie Munger and the other parties said that it was Warren Buffet. I dont know what or whom to believe. So anyone among you who knows the real story and is willing to share who is the real culprit.

Quote
Host: We need to talk about Bitcoin in a minute. I can't wait to hear what Charlie Munger has to say about this. Let's bring in Charlie Munger, the vice chair of Berkshire Hathaway, Bill's gonna move over so you can come sit in. Good morning, Charlie.

Charlie Munger: Good morning.

Host: I just had to get your thought on Bitcoin, this... this... this digital currency that's out there that people say, oh it might be the next big thing. What do you think?

Charlie Munger: I think it's rat poison.

Warren Buffet: Put him down as undecided.

Host: Do you understand what they're trying to do with it?

Charlie Munger: No, but I regard it as deeply flaky.

Host: Deeply flaky, OK, Bitcoin - Bill, what do you think?

Bill Gates: I think it's a technical tour de force, but that's an area where governments are gonna maintain a dominant role.

Host: Bill, Warren?

Warren Buffet: I think either Charlie or Bill is right.

Host: Either one of those guys.

This statement was made by Charlie Munger about four years ago, it might have been somewhat controversial if he had said something like that now. But four years, just irrelevant.

https://www.reddit.com/r/Bitcoin/comments/1dx6rq/bill_gates_bitcoin_is_a_techno_tour_de_force/

http://video.foxbusiness.com/v/2359385547001/

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June 23, 2017, 07:50:54 AM
 #5

I have no idea who Charlie Munger is but people are claiming he was the one who said that and not Warren buffet. I also see no difference personally, just because he is a legendary investor, It doesn't make his words 100% true, he could be right or wrong just like anyone of us, It will take time to know for sure. It's no secret that some people are trying to spread FUD though and no one should take it seriously.
Warren Buffet has always told people not to invest in things they don't understand.  In that case, I suppose he's following his own rules by not investing in Bitcoin.

But he really needs to set himself some boundaries as to what he says about it.

What he actually did call Bitcoin is a "mirage" and argued that it didn't have intrinsic value.

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June 23, 2017, 08:10:19 AM
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No fucks given what some ancient dinosaurs think about future technology.
Mandoy
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June 23, 2017, 08:16:42 AM
 #7

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https://www.reddit.com/r/Bitcoin/comments/6iubil/warren_buffet_said_bitcoin_is_rat_poison/

This post in reddit is very controversial as different groups are arguing as to who is the person responsible for calling bitcoin as a rat poison. The debate is still going on as one side says that  Charlie Munger and the other parties said that it was Warren Buffet. I dont know what or whom to believe. So anyone among you who knows the real story and is willing to share who is the real culprit.

Quote
Host: We need to talk about Bitcoin in a minute. I can't wait to hear what Charlie Munger has to say about this. Let's bring in Charlie Munger, the vice chair of Berkshire Hathaway, Bill's gonna move over so you can come sit in. Good morning, Charlie.

Charlie Munger: Good morning.

Host: I just had to get your thought on Bitcoin, this... this... this digital currency that's out there that people say, oh it might be the next big thing. What do you think?

Charlie Munger: I think it's rat poison.

Warren Buffet: Put him down as undecided.

Host: Do you understand what they're trying to do with it?

Charlie Munger: No, but I regard it as deeply flaky.

Host: Deeply flaky, OK, Bitcoin - Bill, what do you think?

Bill Gates: I think it's a technical tour de force, but that's an area where governments are gonna maintain a dominant role.

Host: Bill, Warren?

Warren Buffet: I think either Charlie or Bill is right.

Host: Either one of those guys.

This statement was made by Charlie Munger about four years ago, it might have been somewhat controversial if he had said something like that now. But four years, just irrelevant.

https://www.reddit.com/r/Bitcoin/comments/1dx6rq/bill_gates_bitcoin_is_a_techno_tour_de_force/

http://video.foxbusiness.com/v/2359385547001/

Thanks for your answer it was of big help. Me and my colleagues were already debating and started to make our cursor move and look for the real culprit in google. But as soon as you mentioned it our debate stopped. Well maybe today Charlie Munger changed his mind already since bitcoin has improved a lot since then.


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June 23, 2017, 10:10:09 AM
 #8

I have no idea who Charlie Munger is but people are claiming he was the one who said that and not Warren buffet. I also see no difference personally, just because he is a legendary investor, It doesn't make his words 100% true, he could be right or wrong just like anyone of us, It will take time to know for sure. It's no secret that some people are trying to spread FUD though and no one should take it seriously

Warren Buffett is first known and later renowned as a technophobe

Even if it wasn't in fact him who told that (which seems to be the case), we could well expect him to say something to that tune. Buffett is famous for his rejection and hostility toward new stuff (when it was really new back in the day), for example, things like Google, Twitter, Facebook, etc, i.e. anything which is not based on material things like heavy industry and manufacturing. He himself admitted that he was afraid of investing in hi-tech companies out of concern that the tech markets are changing too fast (like Bitcoin) and he didn't basically know how to value these companies. Anyway, he is likely already out of his mind completely due to age and decay (unless he is on some really radical life extension stuff), so does it really matter what he says now?
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June 30, 2017, 10:07:00 AM
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Well, that's part of their freedom of speech.  Wink Everyone is free to voice out their opinion. Let them be.

Words don't break my bones. What's the fuss about such a nuisance remark?

At the end of the day, they cannot deny the fact that bitcoin is not just flying but soaring high. The world is slowly opening up to bitcoin.
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June 30, 2017, 10:15:49 AM
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Every person should have their own opinion on any kind of investment and not always it can be positive. Everyone must decide and learn to trust intuition where to invest their money. I trust bitcoin not looking at bad or good reviews.

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June 30, 2017, 10:25:55 AM
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Why does it matter what these people say? It is far from the prevailing opinion. It is important to consider all sides of an argument but also one must critically assess what argument is being made and there seems to be little substance behind this

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June 30, 2017, 10:37:58 AM
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We really can’t expect Warren Buffett to change his views and opinions about bitcoin, or anything that has to do with modern technology, for that matter. The man made billions from analyzing and studying companies, that for him, were more predictable and easier to understand. His strength lies there and he can’t be blamed for not being sold on things, that to a man his age, moves so fast (like bitcoin and the internet, and most things invented by men these days).
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June 30, 2017, 10:51:52 AM
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the question that we should ask is not about if the view is correct or incorrect, good or bad.
but instead the question that we should be asking is "why someone says what he says, and what is the benefit of saying it by time he says it". if you find the answer to these two questions you will start peaking behind the curtains instead of just seeing the outer shell!














 

 

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July 19, 2017, 08:26:52 PM
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One article stated this, "91 year old billionaire Charlie Munger has referred to Bitcoin as "rat poison". His friend, 84 year old Warren Buffett has said Bitcoin is "not a currency" and advised people to "stay away from it". Also alluded that, "I was warning people of this scam here when Bitcoin was over $460 ( https://news.ycombinator.com/item?id=6753545 ). It has since fallen to $290. It will be falling to $0."

That really is a mind twister opinion from a billionaire.
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July 19, 2017, 08:32:49 PM
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One article stated this, "91 year old billionaire Charlie Munger has referred to Bitcoin as "rat poison". His friend, 84 year old Warren Buffett has said Bitcoin is "not a currency" and advised people to "stay away from it". Also alluded that, "I was warning people of this scam here when Bitcoin was over $460 ( https://news.ycombinator.com/item?id=6753545 ). It has since fallen to $290. It will be falling to $0."

That really is a mind twister opinion from a billionaire

This is no longer the case

Everyone can make mistakes and, as they say, to err is human. When Warren Buffett was 84, it was 2014. Back then Bitcoin was quickly spiraling down after the Mt. Gox collapse, and not many people had been believing in Bitcoin those days. Buffett is a known technophobe but even he seems to have changed his view on Bitcoin recently. And let's not forget that he missed out badly on Amazon and Google back in the day
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July 20, 2017, 06:20:42 AM
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I think some person who might have suffered due to price fluctuation in bitcoin might have said these words.But it is not true.If we ask people who have progressed much in life due to bitcoins,they might say whether bitcoin is a rat poison or a cure for unemployed people.

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July 20, 2017, 06:29:43 AM
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Who gives a shit about determining the identity of someone who said something negative about bitcoin? If you think bitcoin is rat poison then sell it.
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July 20, 2017, 06:43:27 AM
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but bitcoin IS rat poison. and it is not a bad thing. you just have to figure out what does "rat" mean Cheesy

in this case bitcoin can potentially kill banks and banking system which makes them the rat. which is why we are seeing this much attack on bitcoin. i somethimes wonder how much of the delays for scaling bitcoin with SegWit were caused by these rats because they felt threatened.

Buying the dip...
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July 20, 2017, 06:56:40 AM
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Poison that will make people do not believe, they will say "whether bitcoin is rat poison or medicine for unemployed people"

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July 20, 2017, 07:07:37 AM
 #20

Who gives a shit about determining the identity of someone who said something negative about bitcoin? If you think bitcoin is rat poison then sell it.
This is what other thinking that bitcoin is a rat poison. Its a rat poison that people pocket will full of bitcoin, though we cannot predict its price  but for sure it will rise. It will rise as many people will benefited of it, if holding with patience thats for sure we can earn big profit.

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