Sorry, Charlie, the venereal disease is not Bitcoin, but the debt-based system you worship.
These guys only invest in things they understand, mostly insurance. What the fail to realize is bitcoin is USD insurance.
The older generation just don't get it. Some of them do but the majority of them just don't, or can't understand it. Maybe they are just set in there ways and change is not something that they are looking for. But saying that bitcoin is like a vernarial disease is crazy. It's actually laughable. The debt based system is the vernarial disease and the people which is the majority that have to use it, they are the ones that are getting ripped off. I personally hate credit cards and any type of credit or loans.
The idea of having to pay almost twice as much for items or things that you want is nuts. Bitcoin will save the people if they invest in it and hodl. Peace and Love
Eh these kind of people will always be talking. Yeah, on-point they have been successful on what they have done, but they don't embrace the change. It is what makes them old-fashioned and narrow-minded. I don't think they will change after this point though, our only option is to prove them wrong - which will %99 happen and already happens :')
Everyone is entitled to an opinion but I really do wonder if Charlie Munger has done any serious research before making that comment. It strikes me as an off the cuff comment from someone that doesn't really understand the topic at hand. Fortunately, he isn't the first and he won't be the last person to take that approach. At this point, crypto is used to these kind of people. In the past, that kind of FUD may have actually had a negative impact. At this stage, the great thing is that no one cares! lol
This old dude won't change his mind. I don't think anyone interested in the future will listen to him, let him retire and fade out.
"the U.S. dollar is headed for zero. The US dollar is at the center of a flawed system that will collapse sooner or later. Its value will keep falling towards zero."
One thing you can say about this is that it is now apparent to a much wider group of people that Russia, China, and all the corrupt autocrats and kleptocrats would rule the world unimpeded if left to Comrade Saurel.
For example, Putin's assault on the Ukraine can be stopped by one of three options:
1. Nuclear war
2. Large scale conventional war
3. The dollar reserve system
This should provide some insight into such silly pronouncements as cited above.
And, never mind that Buffet has had huge success as an investor.
As for "debt-based" systems...": You mean they'll be giving away BTC and everyone can start using barter again? Wow. That's pretty wacky, even for comrade Saurel.
And how do you know what BTC is worth? You don't unless you can move it into USD, EU, CH, GBP, etc.
Great article, thank for that.