Bitcoin is stupid 'cause it's very likely to go to zero,' says Charlie Munger

Chairman and CEO Warren Buffett and Vice Chairman Charlie Munger preside over the Berkshire Hathaway annual meeting, nicknamed the “Woodstock for Capitalists.” The Omaha, Nebraska, event gives shareholders a chance to hear the legendary pair discuss investing, their economic outlook and life. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/2NGeIvi
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[@PhilSommer2]

Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.

[@JanetMorgan3]

Achieving significant returns isn't about volatile stocks; it's about effectively balancing risk and reward. Proper position sizing and leveraging your advantage repeatedly are essential, whether you're a long-term investor or a day trader.

[@PhilSommer2]

Certainly, many underestimate advisors until emotions lead to losses. A few summers ago, during a tough divorce, I sought a licensed advisor who, through diligent work, boosted my business from $190k to around $720k despite inflation.

[@LeonWilk2]

wow that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.

[@PhilSommer2]

The Adviser I'm in touch with is *'Jude Ryan McDonough'* , he works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else. for me her strategy works hence my result. He provides entry and exit point for the securities I focus on.

[@AlinaWinkler233]

Thanks, I just googled him I'm really impressed with his credentials. I reached out to him since I need all the assistance I can get.

[@indethbed2546]

6 days later luna went to zero and people started killing themselves

[@chrisp3083]

The strange thing is that these guys still have long term investment horizons at 91 and 98.

[@CBUCK1994]

Thats literally what they are best at

[@matthewrankin3556]

yeah they are old af they fumbled the bag missing out on tech too old to even understand future tech like btc they will be dead soon.

[@tioswift3676]

Correct. They’re almost robot-like in this regard.

[@uberhaxonova]

it's ok they'll transfer their consciousness to a younger body and continue investing for eternity. so they can enjoy the luxuries of life forever while those scientists slave away for more innovations into their portfolio.

[@davedupond1231]

@TBD they are looking out for the investors ....

[@mayor399999999999999]

Everyone sell your BTC now so I can buy more.

[@radicaIarchitect]

Exactly 😅

[@AleksandrVasilenko93]

A bunch of new investors with zero experience are on here saying how one of the world’s greatest investors is actually wrong and they, the new investors, are right. Get a grip.

[@DRAGGOFFICIAL]

that's like saying a new athlete can't say an older athlete assessment of the sport at present is wrong, simply coz one did it before the other. Times change, technology changes, it's ok to not understand certain things at 98 ... if it's not for you it's not for you

[@TheExclusiveOne720]

The people on here that are disputing Charlie are BROKE and foolish

[@Sockembopem]

Well, their wealth is based on a centralized system. So of course these two whale investors are going to make sure the little fish stay with their investment strategy.

[@petertrueteller8043]

@@Sockembopem oh, you poor little fish. haha

[@Sockembopem]

@@petertrueteller8043 Well if we’re measuring my wallet to buffets than call me a goldfish.

[@gerrysongs4170]

The basics still work. The farther we get away from the basics the worse we make it. I am 65 years old and it’s amazing how many young people were arrogantly talking down to me before crypto crashed. I don’t hear much from them anymore. It’s a hard lesson. Crypto is a gambling addiction more than anything.

[@UlyssesAlpha]

So is your bonds

[@emilal]

Bitcoin isn't a gambling addiction, altcoins are. Just the same way that blue-chip stocks aren't a gambling addiction, penny-stocks are. If something is amazing here it's how many old people are arrogantly talking down to young people. Get real

[@gerrysongs4170]

@@emilal almost 70% drop this year. Get real.

[@gerrysongs4170]

@@emilal The ponzi like greater fool investment strategy has run out of fools. The vast majority of crypto investors have lost money and the vast majority of them were young. Unless most of them are stupid enough to make the same mistake twice crypto is not coming back. Fools think they can get something for nothing and that’s what crypto is-nothing. Since crypto doesn’t produce anything investment is strictly based on hope-same as gambling.

[@robrob8500]

@@gerrysongs4170 it's more reliable than fiat currency's money was so worthless in the past that it was only good to burn in a fire for warmth and fiat currencys give to much power to small groups of curruptt people the market is being manipulated by phone like the federal reserve because they see it as a threat and are actually developing there own cryptos because they know it's better than the current system

[@BILLIONAIREGH]

12 days later... BTC has lost 40% Luna has lost 95%

[@Joshgraal]

and the US dollar has lost over 96% of its value, whats your point?

[@BILLIONAIREGH]

@@Joshgraal are you suggesting the US Dollar lost 96% in 30 days??? We educating people not following blindly

[@Joshgraal]

@@BILLIONAIREGH no...unlike what you are talking about...bitcoin will never go down fully like the dollar or literally every other currency The government decides the value of the currency, bitcoin is worth more than the dollar, 20,000x more in fact... Many countries are now incorporating bitcoin into their payments system like Ecuador,Mexico and UK.....in maybe 20+ years we will all be using crypto for transactions. Say goodbye to fiat currency

[@BILLIONAIREGH]

Keep your feelings and how to think Stated FACTS.

[@Joshgraal]

@@BILLIONAIREGH LMAO NICE ARGUMENT

[@danieltrammell5223]

If I own Bank of America like Mr. Munger, I would love the Fed and hate Bitcoin.

[@davec3974]

What's stopping him from selling his BoA shares and buying Bitcoin?

[@uberhaxonova]

“Let me issue and control a nation's money and I care not who writes the laws.” Mayer Rothschild

[@yashagar4443]

Bitcoin,crypto currencies and nfts are like overpriced trump cards we used to play with as kids.

[@James-Lifts]

If you had a brain and weren’t a cookie cutter peasant you would agree with mr munger

[@alteroccatv]

@@yashagar4443 e anche quelle erano protette da tecnologia blockchain, infinitamente divisibili, completamente fungibili, in grado di essere scambiate in pochi secondi da un capo all' altro del mondo, incopiabili, incorruttibili, irreversibili, e tutti gli altri attribuiti che rendono crypto l'unico vero possible sostituto di moneta FIAT? Ma per piaseeeeeeeeeee

[@rubenortega6088]

He said the same thing about Tesla, Apple and Microsoft. Who cares what they think.

[@RobEGR19]

Warren made almost half his AUM from Apple and it wasn’t even his call to invest in it. He’s also best buddies with Bill Gates yet won’t touch Microsoft. I’m not going to sit here and call him and idiot but I’m also not going to put him up on some pedestal either. They know next to nothing about cryptography and that’s fine; but because of that, they need to recuse themselves when asked about it.

[@mensrea1251]

They never said that. BH is heavily into Apple. Wth are you talking about. Stop making sh1t up.

[@critzujay2]

Charlie doesn’t like bitcoin because it undermines government control! What should of been the headline.

[@somethingginterestingg4275]

He also makes the assumption it would take over as the reserve currency. Which is silly

[@sidneycrosbyfan1000]

These two guys are the real deal!

[@franciscovidabajasur1900]

2024: crypto very much alive, and Munger? Well he went to zero

[@alanfox8928]

Don’t mind me, I’m just here to observe all the brainwashed crypto bros freaking out.

[@Volcorom]

No, you are clearly here to write a comment about 'brainwashed crypto bros'. By the way, digital property is not going away. Sorry, 'bro'.

[@RazerBoyV1]

Said the poor man holding his bonds that are making negative returns because they don't even beat the inflation caused by mindless printing in order to patch up the self-made corona virus hole made by the mindless lock downs, while I'm up by 410% in less than 2 years

[@williamsdave8377]

Les recomendé un corredor profesional hace algún tiempo, ¿puedo conseguir una persona que haya invertido con ella? Comenta abajo Vamos

[@jennyemmanuel3493]

Hey hombre, Invertí con ella obtuve grandes ganancias gracias por recomendarla

[@priceberry5231]

que obtuvo ganancias para usted, realmente estoy buscando un profesional que pueda administrar mi cuenta y obtener grandes ganancias para mí

[@inuwaabubakar7926]

wow, me alegro de haber retirado mi primera ganancia hace dos días, ahora tengo otra operación en curso con ella

[@ceciliankereuwem3298]

quién es este corredor profesional y cómo podría ponerme en contacto con ella

[@jessyabba3451]

Puedes contactarla 👇🏻

[@rdy2brn]

This is actually aging very well.

[@pritpalsingh6483]

Too well

[@k0phn1z]

like in 2025 right? clueless noobs, see you in 2025 calling it to 0 again

[@TheMrJoshT]

Extremely well

[@dr.andersonsghost4315]

This has become almost prophetic. They don't call these two oracles for no reason.

[@xothehost123]

BTC up 46% year to date, aging very well yes.

[@method341]

Why are people clapping Munger's praise of Xi Jinping? This is frightening. Btw I don't own Btc

[@phillipboll5214]

Right on H. Munger is a tyrant

[@antpoo]

Buy Bitcoin and do the tribal dance!

[@anonpst]

yah, how are people not talking about this

[@GrimTTL]

Because Charlie is a dirty shill. He is a lawyer, enough said.

[@julianschmahl8267]

He thinks Xi Jinping is a very effective leader. JUst look at Shanghai right now

[@josephwallace3885]

Proved right! Crypto is not currency!

[@loficathedral4584]

Our approach is very much profiting from lack of change rather than from change. -Warren Buffett

[@davidl2033]

We are calling the old and wise investors.....some of who manage to be among the richest and most powerful in the world, "out of touch." Time won't be very kind to those criticizing them, I can guarantee that. We should be listening to them instead.

[@trishawallor]

Rich people will talk like rich people. Fact still remains that given the present state of the economy and all, it's still in our best interest to to embrace not only bitcoin/cryptocurrency but anything that's inflation resistant. My fa who made me my first million earlier this year in the peak of this inflation had been hammering on it. Guess I am now a believer, given that currently, the inflation is ripping us apart and I am not so affected.

[@thesportsguruu]

Honestly, some of us are playing catch up...Seems very profitable... You mentioned something about an advisor. Who's he? I need somebody like that in my life...

[@trishawallor]

@@thesportsguruu I dont know if it's permitted here though. Name is Nancy Lynn Lewis and you can search any info you need about her

[@EmersonFranklin65]

would have been nice to have joined the early train

[@archiemcdougald5466]

@@trishawallor This right here is the second time I am coming across this name in a week,, My colleague at work seems to feel she's some kind of God sent angel,,,

[@chriswilliams2061]

@@EmersonFranklin65 Crypto is not worth the hype believe me

[@rebel8814]

"It is evil because it undermines the federal reserve system." Exactly why I buy bitcoin lol I guess I am evil, muahhahahahahha

[@alankrampf4120]

The federal reserve system has undermined each and every one of us

[@quoddie]

The federal reserve has had good policy during covid, btc isnt a real threat to USD

[@jackcaffrey8493]

Do we know who or what the creator of Bitcoin is?

[@rebel8814]

@@jackcaffrey8493 its probably Adam Back

[@jordanmusikwerks1047]

So tru.

[@hayesmarcia6508]

We work for years to have, $1m while some people I know put thousands of dollars in some meme coin and they are millionaires.

[@philipgrombliniak5651]

Best thing that happened to me last year that I can attest to is the progress I have made so far on trade. Venturing in crypto was my best decision ever I know more is yet to come 2022

[@philipgrombliniak5651]

Brought Bitcoin and Ethereum August last year and I made 6grand into half a million after taxes. Now I took that half a mil. Basically made me more money than 35yrs in granding within 6 months. That's digital currency

[@elizabethswift1808]

@@philipgrombliniak5651 Excellent buddy how good are you earnings and do you have any recommendations or suggestions?

[@kelvinjeff3893]

I've been trading with Mrs Joyce Albert for a while now she's really amazing and trustworthy she has the skill level of trade always winning with her trading platform.

[@kelvinjeff3893]

÷ 447

[@roflkohli2853]

These two are the most genius & coolest guys to walk on the planet.

[@TheLiquidPeace]

You may want to raise the proverbial bar.

[@roflkohli2853]

@@TheLiquidPeace इंग्रजी ही माझी भाषा नाही. संप्रेषणाव्यतिरिक्त ते कोणतेही प्रयोजन करत नाही

[@chrismillson2779]

many fail to think big on bitcoin and they keep telling me we will never see a new ATH again... I cannot help but laugh every time I have heard this on the last few major drops over the years.

[@Steyne968]

For you to survive the market you must have a good strategy and you need to always monitor the lines, great bitcoin investors do not panic on the dips because that's when they make their profits.

[@LuisVargas-ih5vm]

@Gregory Feigenberg Sounds interesting, do you mind dropping her contact details?

[@bullettethebulldiva4875]

You can think big on monopoly money too. That's what BTC is. Even monopoly money is worth more than a bitcoin because the paper it's printed on has some value.

[@rabidlenny7221]

Charlie Munger, a force for good against evil Bitcoin

[@bobmarjhdgh5515]

Charlie munger doesn't understand Bitcoin he's said that himself, he's too much of a boomer to speak on it

[@rabidlenny7221]

@@bobmarjhdgh5515 I know, I was being sarcastic

[@bobmarjhdgh5515]

@@rabidlenny7221 bro I'm a Bitcoin nerd, you know what nerds are like with understanding sarcasm

[@rabidlenny7221]

@@bobmarjhdgh5515 🤣 I am not a bitcoin nerd, but a nerd nonetheless

[@theoliverpuma]

Yes we need more billionaires to tell us how much they loathe bitcoin because they didn’t make money from it

[@4lugan]

Back the dollar with gold. Not 35 dollars per ounce as it used to be, but the actual price.

[@yourcousinsshow5540]

The super wealthy don’t want that cause that will cause deflation.

[@jeffwashington4236]

I'M NO LONGER WAITING FOR THE GRANT LOAN BECAUSE I EARN $48,700 EVERY 10 DAYS RECENTLY

[@martinasaunders2378]

Same here, I earn $32,670 a week. God bless Mrs Jane Morgan, she has been a blessing to me and my family.

[@cryptogiant7212]

It’s four months now I started investing with her and it has been a good experience

[@romainbayart8536]

This is the kind of information that we don’t get from most KZbinrs , I will get in touch with her right now

[@ezrathompson3190]

After watching so many KZbin tutorial videos about trading , I was still making losses until Mrs Jane Morgan started managing my investments , now I make $60,567 weekly. God bless Mrs Jane Morgan, she’s been a blessing to my family

[@trinaberg6582]

Wow 😯 it is really refreshing to see comments about expert Mrs Jane. I got a chance to benefit from their services a few months ago and it has been a very smooth experience, it’s amazing how accurate their market analysis are and how good and patient they are with newbies

[@kilimanjarobottom_up941]

These are wise men

[@KenzoTenmaM]

I can’t believe munger is 98 years old.

[@birdcage6288]

Zero is truly deep buying. ^^

[@AM-pq1rq]

so how can it both not do anything and also threaten US currency at the same time

[@shaysotil]

cause people are using dollars to get it , and those dollars are not getting taxed, its taking money out of the economy mostly in USD

[@RobEGR19]

Bitcoin isn’t a threat, quite the opposite. It’s very possible Bitcoin will save the USD. I want both and they compliment each other very nicely. USD as the medium of exchange, once it’s made truly digital, and Bitcoin as the store of value; just like the gold standard but much better. It will be resistant to the corrupt financial and political system.

[@phillipboll5214]

So somewhat similar to Berkshire parking money in other countries to avoid taxes? Explain how a government that is $30 Trillion in debt has a moral leg to stand on to tell anyone what is owed to that criminal cartel?

[@shaysotil]

@@phillipboll5214 If you cant understand the basic logic of credit I dont know how to answer, but most of the debt is due to building and growing the economy, a minor of it is due to usd going into cryptos

[@shig4238]

@@shaysotil Nope - it's because as bitcoin gains popularity, more people are looking at the American system and realising that the emperor has no clothes. Money is printed without limit and enriches first those closest to the printer while everyone else gets poorer. All the while, the war machine rumbles on , ceaselessly displacing people and causing misery around the world - even in America. Don't you ever ask yourself if your taxation really comes with representation?

[@larslover6559]

The bitcoin bashing is becoming the highlight of their meetings.

[@bobbarker1593]

It was ushered in by the Kenyan for all of the Globalist Cult pedal files to use for their child diddling and Adrenochrome use.

[@bullettethebulldiva4875]

These guys are billionaires but according to broke basement dwelling millennials who bought worthless BTC these guys don't know what they're talking about. LOL!

[@stephenoneill2844]

@@bullettethebulldiva4875 My Bitcoins are worth $40K a piece (they are far from worthless and in the long run will only go up from here). Bitcoin will be here long long after the US dollar has died. In a Jetsons type future in 500 years time they will be using Bitcoin! And by the way, I would take you to the fair and sell you.

[@bobbarker1593]

@@stephenoneill2844 Get back to us when you can cash them in.

[@larslover6559]

@@stephenoneill2844 Now less than 30 000 and still going down

[@santiagol9008]

i just see a couple of dinosaurs who couldnt see BTC, tesla, shopify, google, facebook, apple, netlfix or uber coming from a mile away !!

[@jakejake7289]

Yeah but FTX has potential 😄

[@phillipboll5214]

Since 1913 the US dollar has lost 96% of it's value. Sure, Charlie, you keeping eating that peanut brittle and telling us Bitcoin is the enemy.

[@thonatim5321]

Bitcoin will not go to zero but it will certainly reduce in value. It may not be in a year but it will go down. There is nothing to support it, similar to a ponzie scheme. Eventually it collapses.

[@fzr1000981]

Bitcoin is worthless, if you want a dollar hedge buy gold. CBDCs are the future

[@phillipboll5214]

@@fzr1000981 I do 😉 Whether Bitcoin has value long-term isn't known. What it provides is decentralization and competition, something vital to a true market economy rather than debt liquidity (6 trillion)being pumped into wall street while the largest bubble awaits

[@fzr1000981]

Central governments will always control money. Decentralized money is an impossible fantasy. If it fails as money it will fail as sov, just a matter of time. Gold (and silver) is the only proven hedge. It's sad I even have to spell this out for so many kool aid drinkers

[@REPR100]

How’s your Bitcoin doing, lol,

[@ratha22]

I’ll take math and software over processed sugar.

[@Tendomcgoobin]

lol

[@freetrade8830]

A thing being based on math and software does not guarantee that it is useful or valuable. The scarcity argument of BTC is questionable, and it has no secondary use case, like gold is used in industry and jewelry.

[@shawn-zx9xt]

@@freetrade8830 Bitcoin industrialism has brought many use cases to light. Stabilized grids, offset inefficient renewables, subsidize expensive renewables, lower merchant processing fees. These type of network effects can help save the consumer from contstantly floating the bill from bad decisions and policy.

[@bullettethebulldiva4875]

Math and software doesn't buy food, cars, or homes. BTC is worthless

[@eversunnyguy]

Wow.. Charlie is 98 years and look at the energy and passion.

[@celebritywatch386]

Stepping on necks requires energy

[@curmudgeonextraordinaire1884]

Both these guys in their 90s are more with it than Biden is in his 70s.

[@stephenoneill2844]

He looks like a 98 year old turtle.

[@eddy5380]

Both these guys in their 90s are more with it than Trump is in his 70s.

[@Worm537]

Blood Sucker most likely

[@uiharu]

Funny coming back to this video and reading old comments. Many of those crypto accounts stopped posting videos recently. Did something happen?

[@radicaIarchitect]

Yes, bitcoin is now at zero. Finally 😢

[@austinknight4030]

Is there a way to watch the full length meeting again??

[@bikashshrestha1472]

kzbin.info/www/bejne/r5alm3mPq7ZkqsU

[@hazardursun]

They generally publish it after all of the answers published. Like they will keep publishing this kind of videos(5 minute answers) and at the very end, they will send the full version. This is what they do every year.

[@rheavomcoos]

Watching this saddens me. This blind hatred towards future technology. Age doesn't always make you wise, sometimes it just makes you stubborn. 😔

[@sodanakin]

They just like to hear themselves talk, a common trait of the elderly and a something we need to fight for to change, we need to prevent having people over the age of 50 in responsible positions. It's sounds super harsh, but the reality is they hold us back. I bet you can name me atleast 5 companies nearby you that still use windows XP as business software. Total lack of customer security and care.

[@rheavomcoos]

@@sodanakin 50 seems a little harsh to me but I would meet you at 65 to 75. When people usually retire.

[@lawanbrown16]

I disagree, I think they are very careful investors. Very careful about the words they use.

[@lewis809]

Wow what an amazing technology, you buy it and then hold it whilst it produces absolutely nothing for you. Bitcoin seems to ignite peoples obsessive desires to compete over finite resources, even though you literally cannot purchase anything with it

[@sodanakin]

@@rheavomcoos Fair enough fren.

[@rdy2brn]

Crypt bugs are worst than Gold Bugs. At least Gold Bugs own something that can be used to make something.

[@filmaker256]

It's not tangible , cash is.

[@RazerBoyV1]

Cash is made out of paper which is made out of wood, therefore money grows on tress, therefore it's not tangible. Who is selling you those lies ?

[@torenilsen7568]

Its ok if you dont understand what bitcoin really is. Its not ok if you fight against it and know what it is. That is the real criminal part

[@Jolt139]

Isn't everything likely to go to $0 on a long enough time horizon?

[@GrimTTL]

Zero hedge

[@JenX422]

Exactly.. they are debasing the currency by way of creating 50% of all USD in existence in just past 18 months. Eventually the value goes to zero.. hyperinflation and wheelbarrows of money for a coffee.

[@Hyperpandas]

Bitcoin specifically has no future. That's what he's talking about.

[@wq34v2q]

pretty sure one of them said that the us dollar is going to zero too.

[@dagsterblaster4973]

Gravel? Gold? Copper? Iron Ore? Lumber? Land?... uh...no.

[@grantrutenberg2847]

Your are correct Charlie, but you're wrong about the amount of zeros.

[@jc3teacher265]

People should have listened to Charlie.

[@ikaros21]

I did and I bought 1 bitcoin at 16k (already in profit) and another bunch of altcoins My Gala token went up 140% the past few days and I sold my position on that as well !

[@jc3teacher265]

@@ikaros21 Nice!

[@lG22209]

@@ikaros21 you’re probably part of the reason why bitcoin will collapse someday… we in it for profit not because we actually believe in the currency. Bitcoin is highly over leveraged and it has nothing to be backed by but it’s limited supply

[@ikaros21]

@@lG22209 I just sold my Btc position well over 23k and I'll be waiting for Genesis bankruptcy contagion to drop the Bitcoin price back to 16k again and then buy and hold until the next halving (march 2024) 😎

[@BPoweredLove]

@@ikaros21 How is what you did "listening to Charlie"? Charlie says to stay far away from crypto and you're here talking about trading it.

[@curmudgeonextraordinaire1884]

I laugh when people think they know more about making money then these guys.

[@buckeyemike8626]

Basically he’s saying that he doesn’t understand cryptos and the blockchain

[@glennhenshaw7474]

It's funny how Warren Buffett has all the product placement right in front of him.

[@haneytr3s]

He is pretty savvy about marketing, even with his awe-shucks attitude.

[@rayc2k]

Yep, support products that cause the diabetes epidemic, but heaven forbid they think allowing a free market to own assets they don’t understand. Crazy times.

[@dougkaspar9756]

@@rayc2k If we were around in fifty years we could measure your success, but you have a long way to go to compare.

[@kelleychilton2524]

@@dougkaspar9756 Yep, hard to argue with their results. I'm guessing rayc2k isn't on the list of the world's billionaires. Probably has his life's savings in crypto.

[@peterc8021]

Yep push Coca-Cola and candy that rot your teeth out or give you diabetes. All of my cousins teeth are rotted out from drinking coke for 30 years. Basically like investing in cigarettes at this point

[@k3nnydust]

charlie also said tesla was stupid. so take it for what it's worth.

[@inconvenientexistenlism]

So did everybody say about ARKK, and look at what it is now. Yes, Tesla was stupid from an evaluation standpoint, held up by cult-like behaviors. Charlie and Buffett are rich for a reason, unlike you; and we rather listen to rich people for advice over random non-rich people's opinion on social media's comment sections.

[@petecheng1]

did he, do you have source? I think he probably said Tesla's overvalued. not stupid.

[@BILLIONAIREGH]

Was it not 10 years ago

[@skyak4493]

He never said tesla was stupid -maybe the valuation. They bought a big chunk of BYD, so soon they will own more of the worlds EV capacity than Elon!

[@petecheng1]

@@skyak4493 that's what i thought.. He said "Never under estimate someone who over estimates himself", which I thought was brilliant. Typical high IQ Charlie.

[@commonsense215]

An investment in bitcoin is an emotional one. Not a rational one....

[@RazerBoyV1]

Said the poor man holding his bonds that are making negative returns because they don't even beat the inflation caused by mindless printing in order to patch up the self-made corona virus hole made by the mindless lock downs, while I'm up by 410% in less than 2 years

[@cfwin1776]

Charlie Munger looks and talks like the professor in Futurama.

[@PotatoSmasher420]

If it goes to zero, how can it undermine the reserve system? My dude countered one of his arguements with another without realizing...

[@Xiao_Hu_ZY]

I mean look at them. Dinosaurs whom are way past the expiration date.

[@jordanmusikwerks1047]

Nice point. This shows manipulation.

[@commonsenseparty1396]

Well he called it.

[@radicaIarchitect]

He did 😢, now at zero

[@shawn-zx9xt]

Bitcoin been making these two look bad ever since they started talking about it. Very little substance in their critique of bitcoin.

[@codypeck9125]

Says the person with two spelling errors.

[@billr5842]

We'll see decades from now and see where it's at. They aren't influenced by those flashy price changes like most people are. Most investors see it rise rapidly and automatically think it's good. This is why Buffett is so successful

[@PedroTRamos1]

@@codypeck9125 Nerd.

[@kevinjoseph517]

@@codypeck9125 2? I SEE 1 GRAMMAR NO SPELLING

[@codypeck9125]

@@kevinjoseph517 Look at the original post - it says (edited), meaning after my comment he edited his.

[@Montypythonserpents]

they said zero 5 years ago!

[@lowbudgetpokemon]

There is no point for them to invest in bitcoin at this point in their lives. They can stick with companies and do just fine.

[@marshallmcluhan33]

They should give me their money.

[@bonnierobinson8684]

It's make believe money.

[@marshallmcluhan33]

@@bonnierobinson8684 Sounds expensive

[@JayCo-]

Bitcoin is stupid he said because it's going to zero... what kind of logic is this? is he a Bitcoin expert or speculating?

[@polymath100x]

@@JayCo- munger used to say he wouldn’t have an opinion on something unless he knew more about the subject matter than the opposing side. It’s disappointing that he is now making uneducated remarks about a subject matter he clearly is unable to grasp.

[@1Lambo2NV]

These two Dinosaurs have a combined life expectancy of 5 years and will never see how wrong they are.

[@Drew-fo6jk]

You mad he dissed your Ponzi scheme 😂

[@Montypythonserpents]

@@Drew-fo6jk drew you must be ignorant to crypto as its the same concept at the stock market where they ponzied there millions from

[@jogmas12]

It’s the “get off my lawn” attitude

[@zoltrix7779]

@@Drew-fo6jk Yet another person who has no idea what a Ponzi scheme is.

[@BullsEye3333]

@@Drew-fo6jk I shouldn't even have to say this but obviously bitcoin isn't a Ponzi because there is no central authority paying out profits. Supply and demand decide bitcoin's price. The supply is sound and the demand is high because it's the most secure, most decentralized, most incorruptible form of money ever created.

[@RōninNinno]

Still not zero! These people have to go for us to move on to the next chapter of technology! We are moving too fast for these old folks. You cannot teach old dogs new tricks!

[@NolanGouveia]

Long term holds into solid index funds or ETFs with low fees consistently is how I made 7 figures by 35. Might be “boring investing” but if I’m looking for excitement I’ll go watch Fast & Furious 😂🤙

[@freebird0147]

This is a smart man

[@NolanGouveia]

@@freebird0147 👊👊

[@lewis809]

I would agree apart from all the stock junkies who’ve squeezed a decades worth of returns out of the markets in 1 year. I feel as though holding index’s will produce watery returns for the next 15 years now haha

[@NolanGouveia]

@@lewis809 I still think it’ll be the most consistent bet just like it has been historically for 100 years through a bunch of economic downturns. But I do agree that the past couple years returns have been crazy

[@lewis809]

@@NolanGouveia Yeah I don't disagree. I also think that a lot of the so called stoic passive investors panic like anybody else in a market downturn and rip their portfolios to shreds, like in 2020. And because the markets made up of such a large percentage of them now, we could see the mother of all stock crashes at some point haha

[@markeasley6149]

It's not going to zero and mimicking communists is never a good idea. If they don't want it, that's a positive indicator.

[@byronloveridge8381]

the fed has the ability to print more money... crypto does not, it has a finite value.

[@polymath100x]

Firstly, Crypto is not only bitcoin. There are stablecoins (tokens pegged to USD and backed by reserves) such as USDC and BUSD which are infinitely printable. Secondly the ability for the fed to print unlimited money is precisely the reason why the USD is experiencing hyperinflation and loss of value. This is why scarce assets with limited or fixed supply (i.e. a New York penthouse, Florida beachside mansion, gold and Bitcoin which was less than 1c) has appreciated in the long term relative to USD, particularly in nominal terms.

[@inconvenientexistenlism]

Infinite value via another new-flavor-of-the-week crypto that comes out being shilled by bots all over the internet in comment sections, and then people will be crying about Fed's FDIC insurance and the government should have done more to protect their money from cult-like crypto supporters.

[@RobEGR19]

This is precisely the reason we’re in this situation now. We want to stop printing money. Very simply put if you had a one of a kind Babe Ruth baseball card worth idk $200k and then all of a sudden more of the same cards entered the market somehow…well you can imagine what would happen the value of your card.

[@PR-tj9tm]

Yeah! central banks, regulation and government control, that is what we need for creating this mess as it is today!!!

[@danutivanescu2129]

Did you forget about the war in Ukraine plus that we went through a pandemic? Do you think that these bring prosperity and economic stability?

[@PR-tj9tm]

@@ErinP123 Think local and not global majority of the people don't need this anymore; there is to mush control and manipulation by a small group of people in this global system, and this is why 1.1% of the global population holds nearly half of the world's total wealth. Now is the time it can change thanks to blockchain and decentralized currency.

[@cg5648]

@@ErinP123, no policy put in place in 2008 will prevent a recession.

[@claradidi7573]

[@bobbygunz9254]

[@viviangall1786]

@@bobbygunz9254

[@chris-pj7rk]

[@viviangall1786]

@@chris-pj7rk

[@viviangall1786]

@@chris-pj7rk

[@chasety4185]

They said the same thing about google.. years later buffet said it was a mistake not investing when the co founders asked Berkshire to invest in their company…

[@Me97202]

One mistake doesn’t mean his opinion on other topics isn’t valid. His career has been filled with successes.

[@chijen2010]

This is a ridiculous argument. Berkshire is not a venture capital firm. They don’t invest in start-ups or incubators. They never have. They just don’t have the expertise and you wouldn’t ask Buffett & Munger to read screenplays and pick movie winners like a Harvey Weinstein either. By their traditional measures, Bitcoin is worthless. It’s a Ponzi scheme. In can go on forever, but it doesn’t change it’s still a Ponzi scheme that goes on forever.

[@zoltrix7779]

@@Me97202 Correct, however, the point is they can be wrong re Bitcoin.

[@bullettethebulldiva4875]

No they didn't and I have a lot of bershire stock. Show me where they said the same about google. Actually buffet recommended google and I bought a ton of it.

[@CabinOnTheWater]

Bitcoin will be here long after these old farts turn back to dust.

[@bullettethebulldiva4875]

These guys are billionaires but according to broke basement dwelling millennials who bought worthless BTC these guys don't know what they're talking about. LOL!

[@CabinOnTheWater]

@@bullettethebulldiva4875 If the Dollar keeps inflating the way it is we will all be billionaires soon. Just like those in Zimbabwe.

[@matthewnorton7838]

Bitcoin is the devils playground.

[@CabinOnTheWater]

@@matthewnorton7838 Bitcoin is the first honest money man has ever seen. What is the fiat dollar? A bunch of lies and promises to pay. I think you have it ass backwards.

[@tencog49]

People will say anything to protect their own money bags.

[@bruceroozdar9156]

Problem is neither Munger or Buffet would be able to explain the concept and mechanics of Bitcoin or blockchain technology. Hence, why Munger calls it “stupid”.

[@brblum]

Barely anyone can. It's complicated as hell. Many wise investors have said not to invest in something that you can't understand. Put another way...don't invest in something that you couldn't teach. Businesses are relatively simple. Crypto is horrifically complex...and Buffett's point about it having no intrinsic value is spot in. I've studied trading extensively...crypto is the one "asset" I'd probably never even day trade...aside from sheer technicals, it's very difficult to establish value.

[@bruceroozdar9156]

@@brblum Anyone that takes a few hours to research would be able to understand Bitcoin/blockchain technology at a rudimentary level. Yes the back-end is complex, but so are programming languages and coding scripts used to run applications and domain websites. If I went based on your standards, I shouldn't invest into Google because search engines are complex or Goolge Maps turn by turn navigation is too complex.

[@brblum]

@@bruceroozdar9156 As if that's the only thing you need to understand? I don't need to understand precisely how search engines work. I get the revenue stream process. I've worked for companies that pay for SEO etc. It's very easy to understand how Google etc. makes money. They provide a product that enables consumers and companies to meet up profitably. It's simple. And everyone gets how the advertising scenario plays out, and without understanding what's under the hood. Crypto depends only on someone being willing to pay you more for the "asset" with really nothing underlying it as an intrinsic product. It doesn't really do anything. Whatever. Moving on...don't care enough about it to continue bantering. Kirk out. Best of luck to you.

[@ts4116]

@@brblum well wrong, when speaking for the whole crypto universe. You have no clue at all.

[@brblum]

@@ts4116 Cool. Since you offer nothing by way of explanation, it's impossible to reply. But as I said above, I don't care enough to continue. I'm certainly better informed than most, but don't care what an anonymous KZbin commenter thinks. Happy trading.

[@ogcontraband]

My mom told me never to trust someone who's pooping their pants while talking to you. Bitcoin to zero? What a FOOL.

[@TheAjatin]

If you trust your countries federal/central reserve then bitcoin is pointless, but I don't and neither do a lot of people.

[@planu9031]

Alot of people around the work don't the federal reserve central bank.. im not in USA im from somewhere else and dont trust the government too

[@jessejewell1001]

Too old to understand the future of technology. Cash money isn't forever.

[@tremoo5987]

Guy avoids things that are stupid and evil, but homeboy is pumping CocaCola, Peanut Butter and See's Candies like wildfire

[@bspiderm]

“Maintain government control”

[@SalemMJ]

Are you an anarchist?

[@mayor399999999999999]

Scary if you ask me.

[@bspiderm]

@@SalemMJ you must love some government control ;)

[@SalemMJ]

@@bspiderm You must love some worthless assets

[@johngildea8032]

In comparison the dollar is just a piece of paper not backed by anything much like bitcoin

[@inconvenientexistenlism]

The dollar has FDIC insurance, protecting your money from fraudulent activities, unlike bitcoin and decentralized play money.

[@BullsEye3333]

@John Gildea Bitcoin is money that can't be printed so it doesn't need to be backed by anything. You just simply spend it. No need to go to some sleazy banker to get something physical before they print more currency and steal your purchasing power. In fact, once you back any currency or any cryptocurrency by anything you introduce the reasons why gold always fails as money. Centralization, high fees, and the trusted 3rd party. We've already seen gold backed cryptos fail like INNcoin.

[@Foomanlol]

​@@inconvenientexistenlism Banks offer FDIC protection typically up to $250,000, but that doesn't protect you from a devaluing dollar. The dollar is backed my nothing but faith in the government and since 2020 they have printed it into oblivion.

[@johngildea8032]

@@inconvenientexistenlism fdic at banks. I've had more fraudulent things happen to my bank acct than bitcoin.

[@chrisp3083]

My very successful grandfather in 1995 told me not to invest in Microsoft because computers were stupid.

[@BILLIONAIREGH]

Good advice

[@YankeeStacking]

Right about Bitcoin, WRONG about fiat currency. The FED has already undermined the value of our dollar. 👌🏼

[@andytan911]

Yet those stupid fund managers actually want them to retire, plotting to break up the company.

[@coming_out_97]

Experience can not be denied👍

[@tintucnongnhat7576]

Both are legendary actually. i bought a little bitcoin for fun but he is right

[@sang3Eta]

Buffet took Buffett 22 years to see the value in Amazon. He didn't understand the tech bubble either,

[@hxhxhdnxjxjf7557]

How much billions you have? -.-

[@sang3Eta]

@Hxhxhd Nxjxjf Riddle me this. How does someone famous for not investing in tech stocks suddenly decide to buy a $billion in Activision (a video game company) shortly before Microsoft announces they want to buy it?

[@teemack202]

@@sang3Eta a tech stock , is much different than crypto currency - its apples to oranges. Also, its a wise investment because video games are addictive and break age barriers with hundreds of millions spending massive dollars and time playing them. They invest their time and time equates to money here, get it.

[@JTSuter]

I invest in things that I personally find valuable. Bitcoin had absolutely zero value to me - I could care less what others think.

[@LorcasOFFICIAL]

You shouldn’t become emotionally attached with your investments that’s rule 1. Look at how many people in the comments are butthurt he criticized their investment, take another look at how bad you look cry in the comments.

[@tencog49]

Emotionally attached? Why the passive aggressive comment then?

[@KLXz17]

The future is now old man!

[@c3eb4]

lmao

[@silvercloak7216]

BTC isn't the future. It will soon be the past.

[@matthewnorton7838]

Yea xrp and stuff get on the train or get out of the way man!

[@MrEckardt]

After hearing that I bought some more Bitcoin

[@nicholaschupka4150]

Right?

[@BoredSpaceRoo]

They just called the entire world tribal. Haha! And they’re right.

[@julianschmahl8267]

Just visit Instagram for a day

[@LiveWatched]

They said the same thing when the car was invented.

[@bullettethebulldiva4875]

Nobody said that. Maybe a fool like you.

[@zedzed5276]

Avoid things that are evil and bad. Has candy and soft drinks in front of him.

[@rockieboba]

I disagree with Charlie but then again he does have slightly more money than I do

[@inconvenientexistenlism]

I rather listen to RICH people for advice on money, than non-rich people for who as no money for advice on money.

[@dkgong]

Says the guy who bought BABA.

[@Balyente]

ikr lulz

[@phillyedward7292]

Times do and always will change old man

[@REPR100]

And history always repeats itself, now go wipe your nose

[@phillyedward7292]

@@REPR100 poor baby lost all his money cause of cathie. Learn when to sell and buy and maybe u will have enough money for nosebleeds

[@phillyedward7292]

@@jmn1238 better. Autocorrect

[@atticus-rex]

It's like watching the old white men from trading places. Stereotypes at their best.

[@smoothoperator1083]

@@phillyedward7292 Boy you got Triggered Fast. He didn't say F your Mom. He just have an opinion. Calm down .🤣🤣🤣

[@supersonicej]

The 2+2 analogy was great

[@chrismullarkey3181]

So sad to see experienced business men dismiss a solution to every major central bank's incentive to deflate fiat currency as "stupid."

[@inconvenientexistenlism]

They're RICH for a reason. Let's see you be rich then if you're if you think you're such an expert, rather than wasting time charading in comment sections, like all the BOTS' "People will be kicking themselves by not investing in this and that with Mr. Smith."

[@Positron49]

@@inconvenientexistenlism They aren’t JUST smart, but corrupt and greedy. He doesn’t like BTC and said his reason… he thinks that central banks are important because they possess sole monetary control over the population. He said the quiet part out loud. He wants you to stay poor and him to stay rich, they hold the assets and want to inflate your money into dirt. They may be smart, but it’s easy to win when you can rig the entire monetary system into a major tailwind for yourself.

[@urosuros2072]

You don't understand how economy works 2% inflation is great for economy because it stimulates people spending on economy and investing cash BTC idea of fixed non inflating supply is dumb, Japan had a problem of inflation less than 1% and it was terrible for their economy because people dont want to spend money

[@BILLIONAIREGH]

When you make a BILLION I will start listening to you

[@Positron49]

@@urosuros2072 Their target is "stable prices" and the central bank decided that means 2% CPI. CPI is not inflation. Inflation is the expansion of the money supply and that (measured against any real asset) is a hell of a lot higher than 2%.

[@KennyG-f2w]

If there is no alternative presented to the US dollar, the abuse and debasement of it will only continue. USD needs a competitor to keep it on its toes. Should people invest in Bitcoin and crypto generally? Maybe not for any reason other than to protect some value long term, like a precious commodity style investment, but the concept of a non-fiat currency not controlled by a nation state is a sound one.

[@riverraven7359]

So much shade in the comments. Reality hurts huh?

[@BILLIONAIREGH]

They are in the basement Mummy is upstairs cooking dinner You should allow it

[@koblongata]

Nah, it's climate disasters that are gonna get populations in some cities to zero.

[@bennyjetsaroundtheworld9047]

Put every dollar you have into bitcpin before usd goes to 0

[@urosuros2072]

Lol Dollar is down like 2% this year while btc is down 40% Good luck with that math

[@teemack202]

I'm willing to bet they are likely correct on crypto. They are brilliant , like it or not with almost 200 years of extremely successful ventures and experience.

[@stickb.r.5023]

Munger loves it when Powell comes over to use his powerful tools.

[@smoothoperator1083]

🤣🤣🤣🤣🤣

[@donelpatterson9036]

* XOS.. Large EV Trucks. 2 Assembly Plants. Armored EV Trucks/ Large Dock EV Forklifts / EV SEMI returns 2023.

[@Tom-PlaylistKing-Smith]

These times are tribal and the comments demonstrate that. I guess the commentors know better than these two billionaires.

[@tom4115]

They’re deep in the throes of cognitive decline, I think most people know a lot better.

[@malceum]

They are both insiders who benefit from the central banking system that Bitcoin is trying to replace. The vast majority of people are not insiders who suffer from central banking inflation and manipulation.

[@bamafan4102]

@@malceum Bingo, they are controlled by their trillionaire central banking puppet masters. They are just front men who had lots of help on the way up. They are the furthest thing from self made men. Bitcoin threatens their centralized control system.

[@malceum]

@@bamafan4102 Yeah, if you learn more about Warren Buffet, you will discover he was a ruthless businessman, not the humble investor he portrays himself as. Same with all the other billionaires. You don't become a billionaire in the US without being cozy with politicians and the Federal Reserve. Bitcoin is a threat to this parasitic class of people.

[@FinanceVector]

@@malceum, well said.

[@ithren1]

If crypto is a currency why you need 💵 to buy it.