bitcoin is a rat poison?

[Russlenat]

Charlie Munger is a 91 year old millionaire, I think he is now in hallucination because of his age! Bitcoin is not a rat poison, in fact more people now are getting rich because of bitcoin.

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[bamboylee]

A lot of negative things have been said about bitcoin before, and maybe a lot more will be said in years to come. Does it matter? To those who does not know the technology, yes. But to those who is well versed with bitcoin, it does not.

[Happydd]

Charlie Munger is a 91 year old millionaire, I think he is now in hallucination because of his age! Bitcoin is not a rat poison, in fact more people now are getting rich because of bitcoin.

True, bitcoin is not a poison; on the contrary, it is like a medicine, a new direction for the poor, just as they have the knowledge to use bitcoin, they can change the life of they. I am also such a person.

[deisik]

Charlie Munger is a 91 year old millionaire, I think he is now in hallucination because of his age! Bitcoin is not a rat poison, in fact more people now are getting rich because of bitcoin.

In fact, Charlie Munger is 93 already



As to me, he is not decrepit or senile at all, and he doesn't look like he is out of his mind either given his age. Heck, he looks pretty good and agile even for a 70-year old. He and his buddy Warren Buffett must be eating babies on mornings and drinking blood of virgins on evenings to keep themselves in a good physical and mental shape. It kinda seems that money can now buy health and eternal youth too (and he looks quite happy as well)

[Przemax]

Charlie Munger is a 91 year old millionaire, I think he is now in hallucination because of his age! Bitcoin is not a rat poison, in fact more people now are getting rich because of bitcoin.

In fact, Charlie Munger is 93 already

As to me, he is not decrepit at all, and he doesn't look like he is out of his mind either given his age. Heck, he looks pretty good and agile even for a 70-year old. He and his buddy Warren Buffett must be eating babies on mornings and drinking blood of virgins on evenings to keep themselves in a good physical and mental condition. It kinda seems that money can now buy health and eternal youth too

Im not sure if it can buy yourself eternal youth, but for sure can buy yourself an eternal damnation. Lets just leave it like that.

What good is that to win yourself a world and lose yourself a soul?

About the bitcoin being rat poison. Maybe. If we define rats as a scavengers than ok - some of the bitcoiners must be some form of a rat, that prey uppon the rotten body of a bankster cartel, and hoping it would finaly die, to scavange upon its corpse.

Banks will die either way. That world cannot survive the form it is. Even if you kill all the rats. That is big if. If bitcoiners are the rats. I would say its the bankers that are praying on the death body of the world finance and are far worse than any bitcoiners might ever be.

[Niya]

Berkshire Hathaway has significant holdings in the banking sector, for example Wells Fargo and Goldman Sachs.
Thus I think Warren Buffett and Charlie Munger know perfectly what Bitcoin is. They just consider it a threat for their business.

[HasHe]

Well, that's part of their freedom of speech.  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.

Yes,it is just his opinion  about bitcoin and nothing else.Its not a must for every one to agree with his opinion or else,his opinion only is correct.Bitcoin has already crossed those early stages when it darely needed the support and tweets of big industrialists,ecomists,etc.Bitcoin has already proved its potential and the rocket bitcoin has already left the land and is on the way to its journey towards the space.So,here after,no neeed of such quotes from such big persons needs to be given attention.

[chixka000]

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.

 I agree to this. Not because you are one of the superiors in a certain platform everything you say the is true that is just so funny. Unless you give valid reasons and scientific  basis of evidences which may increase your credibility

[The Sceptical Chymist]

Berkshire Hathaway has significant holdings in the banking sector, for example Wells Fargo and Goldman Sachs.
Thus I think Warren Buffett and Charlie Munger know perfectly what Bitcoin is. They just consider it a threat for their business.

I highly doubt they think it's a threat to banks. If that were the case,  they'd switch their investments over to bitcoin.  I have great respect for Warren Buffett.   Charlie Munger too, to some extent,  but he's an old curmudgeon and I don't doubt he called bitcoin rat poison.

[Bigmacduck]

****5*****

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.

As Paracelsus stated: "All substances are poisons; there is none which is not a poison. The right dose differentiates a poison and a remedy."
The same also applies to financial instruments and policies. Quantitative easing by the Fed done in the right dose is a remedy, done too much it is a dangerous poison.

Thinking that Crypto is the answer to all challenges is poison. Using Crypto to give the rest of the global population access to finances because they cannot have a bank account or no banks are operating is a remedy.

Bitcoin is not the answer to everything.

[UsernameBitcoin]

Unless you are calling banks rats, then no. Bitcoin is a bank poison... lol. Think about how much money is in Bitcoin now that would actually be in banks if Bitcoin didn't exist. They are losing more and more business every day to crypto. And it will continue to be that way as far as I can tell.

[Rj Manik]

Hello guys,
I do not know why bitcoin is called a rat poison.Tell me if someone knows please.But as much as I think,It is like a type of poison to some government.

[Bigmacduck]

BTW: I love Warren Buffet, Charlie Munger and my grandfather, here is why:

When I graduated from University in 1985, my grandfather gave me the choice of two graduation presents:
a) 1000 US Dollars in Cash
b) 1 stock of Berkshire Hathaway Inc. (nowadays traded under ticker symbol BRK-A)

Option a) would have solved many of my dreams immediately and option b) had a caveat: my grandfather would only transfer that one share to me after exactly 10 years. As he was a wise man, I went for option b) plus a graduation beer at the local bar.

10 years later he gave me that one stock which stock value has multiplied 10 times to roughly 25'000 USD. I still hold that one stock today, which is now worth 268'000 USD as of time of writing this post. That is the only stock of BRK-A that I own, but I own many different assets that I gobbled up during my professional work life so far. So that one share framed my thinking about investing for the long term.

As I built my career in Information Technology and Finance, I am a strong believer in the potential of crypto assets and currency. So I made some 5 years ago a highly speculative diversification in buying some bitcoin and every quarter or so I bought some additional coins. My learning was that it does not matter whether you buy at 1$, 100$, 1000$, 4047$ or 10'000$, the key is that you buy and hold the stuff that you believe in.

Buffet and Munger might be right or wrong about Bitcoin and it does not matter for me. It is my life, my money, my risk, and my dream, and I give a s*** about what other people think.

[Niya]

BTW: I love Warren Buffet, Charlie Munger and my grandfather, here is why:

When I graduated from University in 1985, my grandfather gave me the choice of two graduation presents:
a) 1000 US Dollars in Cash
b) 1 stock of Berkshire Hathaway Inc. (nowadays traded under ticker symbol BRK-A)

Option a) would have solved many of my dreams immediately and option b) had a caveat: my grandfather would only transfer that one share to me after exactly 10 years. As he was a wise man, I went for option b) plus a graduation beer at the local bar.

10 years later he gave me that one stock which stock value has multiplied 10 times to roughly 25'000 USD. I still hold that one stock today, which is now worth 268'000 USD as of time of writing this post. That is the only stock of BRK-A that I own, but I own many different assets that I gobbled up during my professional work life so far. So that one share framed my thinking about investing for the long term.

As I built my career in Information Technology and Finance, I am a strong believer in the potential of crypto assets and currency. So I made some 5 years ago a highly speculative diversification in buying some bitcoin and every quarter or so I bought some additional coins. My learning was that it does not matter whether you buy at 1$, 100$, 1000$, 4047$ or 10'000$, the key is that you buy and hold the stuff that you believe in.

Buffet and Munger might be right or wrong about Bitcoin and it does not matter for me. It is my life, my money, my risk, and my dream, and I give a s*** about what other people think.

What a story, man!
Your grandfather was very wise to buy that share when it was cheap. Good for you that you were wise as well, despite you were young.

[BartS]

****5*****

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.

Who cares? If they do not want to join the party and enjoy free money then that is their problem, some may argue that they are rich enough and they do not care but believe me rich people like them only care about producing even more money and they are going to regret not getting into bitcoin when they could single handedly buy an enormous portion of the bitcoin supply.

[Tol9n]

Unless you are calling banks rats, then no. Bitcoin is a bank poison... lol. Think about how much money is in Bitcoin now that would actually be in banks if Bitcoin didn't exist. They are losing more and more business every day to crypto. And it will continue to be that way as far as I can tell.

I think this is the main reason that such articles sometimes appear.
Banks thus try to prove that bitcoin is a dangerous coin and can not be used by it. But for real bitkoin enthusiasts, such articles do not work

[Ctn]

Looks like useless topic to me. Why would anyone call bitcoin as rat poison and what does it implies to really? Does it mean that bitcoin is bad ass and we are the rats? If that so then this is ridiculous stamens for sure. As far as I know bitcoin, it is the charm of crypto currency world and I would love to respect it for everything that it has given to me up until now. About the Warren buffet, he is rich guy and he will never talk something rubbish like this. Hope this epic gets locked soon. There is no point.

[deisik]

****5*****

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.

Who cares? If they do not want to join the party and enjoy free money then that is their problem, some may argue that they are rich enough and they do not care but believe me rich people like them only care about producing even more money and they are going to regret not getting into bitcoin when they could single handedly buy an enormous portion of the bitcoin supply

You obviously forget about the size of their wealth

While it may be true (to a degree) that rich people are looking for ways to become even richer overall (though, for example, Bill Gates doesn't quite fit here), Bitcoin is just too small for them and people of their caliber (I apparently refer to Warren Buffett and Charlie Munger here). Or are you hoping that they will pour their billions of dollars into Bitcoin, and the price will hit the sky, so you will profit handsomely? I guess your hopes are futile, and they won't let you (or anyone else, for that matter) to profit off them. They are ruthless and relentless sharks of investing, not some small fish to get eaten

[PacePay]

Looks like useless topic to me. Why would anyone call bitcoin as rat poison and what does it implies to really? Does it mean that bitcoin is bad ass and we are the rats? If that so then this is ridiculous stamens for sure. As far as I know bitcoin, it is the charm of crypto currency world and I would love to respect it for everything that it has given to me up until now. About the Warren buffet, he is rich guy and he will never talk something rubbish like this. Hope this epic gets locked soon. There is no point.

This statement has also annoyed me a little bit. Talking such nonsense on a forum which is just for bitcoins, OP has either guts or zero brain cells but he is surely out of his league here. I have learnt about many crypto currencies but bitcoins are the best. May be he has a gambler who has lost his BTC and now he is a beggar cursing bitcoins instead of himself.

[lemfuture]

he forgot the /s