Charlie Munger hating on bitcoin

[ConnerDalfino]

Berkshire Hathaway CEO Charlie Munger has called bitcoin's growth and rise "disgusting" and "contrary to the interests of humanity."
"I don't welcome a currency that's so useful to kidnappers and extortionists, nor do I like just handing over billions and billions of dollars to someone who just made up a new financial commodity out of thin air," he added.

Charlie Munger's disdain for bitcoin demonstrates that boomers are feeling challenged because they became complacent and missed out on the next big thing.

What are your thoughts on the matter?

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[Lorence.xD]

Well, they are boomers, of course they are going to be really adamant to their beliefs that the new thing is not a good thing and that the newer generations didn't suffer like them. I say that we let them say anything they want because at the end of the day, they are just words.

[lifeforcepools]

Many people hate bitcoin. Many people hate gold. Many people hate cash. So what?

[dkbit98]

Should anyone really trust and take seriously anything that 97 years old man (read Charlie Munger) with one leg in his grave has to say, and should we first question his state of mind when he talks about anything including Bitcoin?
He and his buddy Warren Buffet are probably angry they are late to invest in Bitcoin so they made his life mission to trash talk BTC it as long he is alive.
However successful Charlie Munger was with his previous investments it does not mean that he never made any mistakes and bitcoin was one of his biggest mistakes, but I bet some of his grandchildren already have Bitcoin.

[avikz]

People know Berkshire Hathaway only because of Warren Buffet and not because of this Charlie fellow. So what he thinks really don't matter to us. Even the crypto community has proved themselves immune from the comments of Warren Buffett. Charlie is just following the footsteps of his boss because if he thinks otherwise, he may have to loose his job.

So I don't think we should be making these people popular among the crypto community as a hater. Just let them comment and we do our own job. That's it!

[Fortify]

Berkshire Hathaway CEO Charlie Munger has called bitcoin's growth and rise "disgusting" and "contrary to the interests of humanity."
"I don't welcome a currency that's so useful to kidnappers and extortionists, nor do I like just handing over billions and billions of dollars to someone who just made up a new financial commodity out of thin air," he added.

Charlie Munger's disdain for bitcoin demonstrates that boomers are feeling challenged because they became complacent and missed out on the next big thing.

What are your thoughts on the matter?

It seems extremely strange to specifically bring up kidnappers/extortionists using Bitcoin, I wonder if he has been personally affected by this - billionaires obviously make prime candidates for these type of attacks. In a sense, Cryptocurrency in general is going to be a direct competitor to the credit card companies owned by Berkshire Hathaway and start cutting into their profit margins. Paper currency and coins are eventually going to be replaced, the global pandemic has sped this up in many countries with people not wanting to potentially touch virus laden objects. At the end of the day crypto is going to become more regulated or it will face more government bans because no government wants "black" money circulating where you cannot trace the owner. Bitcoin still has enough of a bonus in terms of liquidity and ease of use that this should not affect the price too much.

[passwordnow]

Not a new case, he's with Warren Buffett whom also dislikes bitcoin. There's no changing with those anymore, they're old and can't accept the fact that there are new billionaires such as Vitalik Buterin through cryptocurrencies.
Hating bitcoin will do them nothing, whether they will remain to be a bitcoin hater, there's nothing going to change for bitcoin and the fact that it's keeping on becoming mature and its value keeps rising.

[cryptoperkele]

Berkshire Hathaway CEO Charlie Munger has called bitcoin's growth and rise "disgusting" and "contrary to the interests of humanity."
"I don't welcome a currency that's so useful to kidnappers and extortionists, nor do I like just handing over billions and billions of dollars to someone who just made up a new financial commodity out of thin air," he added.

Charlie Munger's disdain for bitcoin demonstrates that boomers are feeling challenged because they became complacent and missed out on the next big thing.

What are your thoughts on the matter?

Wow... Well i guess that Charlie Munger knows thing or 2 about "disgusting" and "contrary to the interests of humanity."

I wonder how physical cash and gold aren't more useful to extortionists then most trackable asset out there? Too bad he is so old we won't see him flipping out how everything is disrubted by with smart contracts in the future.

But his motives are ovious and his ramblings shouldn't be taken seriously...

[kizlod]

OK boomer. That's barely deserves our and your attention really. A lot of people hate bitcoin. Some of them are more intelegent than him. We don't need to pay much attention for them.

[crwth]

They just have hated BTC from their words from before. This link is a video from Warren Buffet, but they are technically the same with the same belief system.

https://www.cnbc.com/video/2018/05/07/buffett-bitcoin-is-an-asset-that-creates-nothing.html

It's basically what they would like to say because they can't fathom what it does in reality. All they know is the old school ways that have been proven with years behind the asset, but since BTC is still at its infancy and still have not yet given the proper thought to everyone, unlike what they are investing in, it's not going to be put in their brains that it's a viable asset.

Maybe what they don't understand is that you can have digital assets right at your fingertips or in your mobile phone and think that it's non-existent or just created out of thin air since it's digital. It's never going to work if they are closed-minded like that. They would stick to the basics with their fundamental analysis. Not so much on the technical analysis.

I thought that they would change their minds once it has sky rocketed from before, but now, it's just not going to work for them.

[seoincorporation]

Bitcoin and altcoins are considered high-risk investments, and we know high risk means it can go up to the moon, or it can crash hard to hell... Those ones who lose a big amount of money will talk bad about bitcoin and those ones who make a big profit will love it. It's simple as that. The question here is, how much money did charlie lose to talk this way.

[Theb]

I don't think Charlie Munger is the CEO of Berkshire Hathaway since that is the role of Warren Buffet also Charlie Munger won't be having a different view on Bitcoin or at least be far away with the opinions that have been expressed by Warren Buffet in the past since he is technically working under him. Simply a clash of opinion for the both of them will just be ugly in a lot of ways after all Warren Buffet won't be wanting to have his right-hand man having different views on the same matter.

[bekti3]

I don't care, he says anything about Bitcoin with all his insults, we don't lose him to tease him into Bitcoiner, and we don't even ask for donations from the wealth he has. Bitcoin haters will always appear, because they don't know that Bitcoin will be profitable, try if they know the potential of Bitcoin beforehand. I am sure who will not be tempted. all will know whatever profitable has been missed is so great.

[SaShiRaJaVu]

Charlie Munger's disdain for bitcoin demonstrates that boomers are feeling challenged because they became complacent and missed out on the next big thing.

Three more years and he will reach 100 years old and if anyone is taking his words seriously then there is nothing much to say. I do understand that his brain is not allowing him to understand the new technology and if he cannot find his conventional investment patterns they will find it hard to understand and they will vouch that it will fail and because bitcoin is a new technology and it is not what they knew as an investment potential asset throughout the years they are against it.

[agustina2]

What are your thoughts on the matter?

Should we bother? There are even more big personalities that didn't show any good approach towards bitcoin.

No need to disagree with him as that was his opinion and we have nothing to do with it. You should have to respect his view and mind our own.

[yhiaali3]

Of course, his thoughts are disgusting, there were many, many more important people than him who made statements opposing Bitcoin and described it with bad descriptions such as that it was a bubble and used for terrorism and money laundering, but they went back and retracted their statements and recognized the strength of Bitcoin as a store of value and a good currency for future investment.
These people are either stupid, not seeing the truth, or looking for fame through these disgusting statements that do not express reality and the truth. Bitcoin has proven to be more powerful than all this talk and that it is on its way, and no one will be able to stop it.

[Rengga Jati]

Although he is one of the popular people in the world because he is an American billionaire investor, businessman, former real estate attorney, architectural designer, and philanthropist (source: Charlie Munger), doesn't mean that what he says can really give a significant impact.
Many people hate BTC, they say and announce that they really hate BTC, consider that BTC is not a valuable investment, BTC is dangerous, BTC is worthless, and many more negative issues uttered. However, this is not too minded for us and most people that have already known about cryptocurrency. Bitcoin is still ongoing and we can take the profits from it. And we also believe in the future of Bitcoin itself, always.
it is normal for him to hate BTC because BTC is likely breaking the rules of investment, but that is BTC< crypto, and also with all of the volatility

[maxreish]

Haters gonna hate. Ive seen so many bitcoin enthusiasts and supporters now that was a hater of bitcoin before. If they see how far bitcoin are going, how greatness the technology been used and how amazing it is today, if they experience the advantage of it today then that man will eat up all his pessimistic statements towards bitcoin.
 
 Charlie's words isnt that powerful to change our beliefs and so are those who are bitcoin believers. Especially those who has a proof of massive income and profits from investing into it.

[bounceback]

We need to know that bitcoin is a coin that has gone through various obstacles so far so I don't care even though there are still some people who hate bitcoin, because I really believe that bitcoin will continue to survive even though there has been a lot of negative news about bitcoin lately, but we've seen things like that have no impact on bitcoin.

[pixie85]

"I don't welcome a currency that's so useful to kidnappers and extortionists, nor do I like just handing over billions and billions of dollars to someone who just made up a new financial commodity out of thin air," he added.

Here's a wake up call for Charlie. Most extortionists and kidnappers in the world use cash and the most popular cash in the world is the US dollar.

Do some math Charlie. How many kidnappers were paid off using bitcoin and compare it to the number of kidnappers who were paid in USD. I have no idea what the numbers are but USD is going to score 100x in this one.