Berkshire Hathaway CEO Warren Buffett, Vice Chairman Charlie Munger and Microsoft Co-Founder Bill Gates speak to CNBC’s Becky Quick about bitcoin and cryptocurrencies.
» Subscribe to CNBC: http://cnb.cx/SubscribeCNBC
About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Find CNBC News on Facebook: http://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: http://cnb.cx/FollowCNBC
Follow CNBC News on Google+: http://cnb.cx/PlusCNBC
Follow CNBC News on Instagram: http://cnb.cx/InstagramCNBC
Charlie Munger: Bitcoin Is Worthless Artificial Gold | CNBC
Berkshire Hathaway Vice Chairman Charlie Munger went after bitcoin again on Monday, doubling down on remarks he made about the digital currency over the weekend.
“Bitcoin is worthless, artificial gold,” Munger told CNBC’s “Squawk Box.” “Now that is not something I think the world needs.”
“The fact that it’s clever computer science doesn’t mean it should be widely used, and that respectable people should encourage other people to speculate on it,” he said. “Bitcoin reminds me of Oscar Wilde’s definition of fox hunting: ‘The pursuit of the uneatable by the unspeakable.'”
Munger went after the popular cryptocurrency at the Berkshire Hathaway annual meeting on Saturday, calling it a “turd,” adding that trading cryptocurrencies is “just dementia.”
His partner, Warren Buffett, also commented negatively on bitcoin on Monday, saying it is an asset that does not create anything.
UCvJJ_dzjViJCoLf5uKUTwoA
Source link
If you think Bitcoin has value because it will replace the dollar or because it's "like" gold, you're stupid and know nothing about Bitcoin.
Bitcoin is not an investment. I like crytos as currencies not investments.
bitcon is a set up. notice I did not say bitcoin.
Bitcoin is a form of cash and no serious investor invests in cash. The trick is to use cash to invest in something else since cash is perceived to be something unreliable since it is constantly subject to manipulation and inflation. Real estate, stocks and shares are seen as better hedges against inflation. But if course not all of them. Only some of them.
I love bitcoin. Bitcoin was an awesome thing that robbed idiots of their money and gave it to a few lucky opportunists. I never bought Bitcoins because when I learned of its existence, the price was already going up like mad and I knew that it would eventually come crashing down.
You got billionaires telling you people who are lucky to have $20k that it's crap and you're like these billionaires don't know what they're talking about. They didn't get to be billionaires buy being dumbasses.
Here comes some 94 year old man, who happens to be Warren Buffets right hand for decades, who both, have completely failed to invest into all the big tech companies of the late 90's and early 2000's, who then both say that it was a mistake, who now come and say that Bitcoin is worthless, lmfao.
No one knows what tomorrow brings! I hope the LEDU COIN that I bought will rise and be known to everyone
This video came out right around the Consensus Conference in NYC. Guess who had the largest space at the conference? Microsoft. These three had to do this as a favour to their bank buddies. Crazy when you think these guys are owned by someone esle
Bitcoin going to 100$ soon
A scumball activity…
Ok, Charlie. Enjoy living another 5 years, tops. You're an obvious genius.
The real problem with BC is that we still don’t know who for sure is behind it’s creation.
Is it one person,a group of very smart teens,a secret organization or government with agendas of their own?
Whom ever they/it are, deserve some kind of achievement award for convincing people to buy into the idea of basically buying a mathematical algorithim that a computer created.
Wow, so many ppl in this comment section sitting on losses or what?
devil take the hindmost
All these kids here thinking they are smarter than these men. Lol. Do you really think these people dont understand bitcoin.
If the people who own the most BTC decide one day to sell it. Wont that make them just as manipulative as the banks these people hate. Blockchain is a great tech but Bitcoin seems off and its value in the hands of few rich people who bought it early.
Munger looks like he's already embalmed.
All these fools here.. unbelievable. Do you really think you know better than 3 billionaires because you've studied how crypto works? First of all bitcoin or any coin is NOT a value producing asset. And even if it's considered a currency(not an asset), why would central banks and governments ever approve it as a legal currency? believe me, they WON'T. They would most definitely create their own currency (crypto dollar)
Like Warren Buffet said, if you cannot handle critics then you are gambling. People with crypto's are full of hopes and try to talk it right.
Bitcoin IS Rat poison so the <Rats are scared !!! and they should be, the tables are turning 😉
The envy and reward/punishment superresponse tendency.
Guys, he's the guy behind Coke. He's worth listening(who am I to ignore warnings and advices of world's greatest thinkers? a mere converted self-promoter of bitcoin revolution). guys, I've studied Computer Science behind bitcoin and it's nothing but old cryptography combined with clever computer algorithms. This is nothing new. Bitcoin is just a scam, pyramid marketing program to promote ideas that have been on Earth for the last 3000 years or so.
Gates is the Demon seed
I learned a lot, I want to leave you a tip, do you have a tipwithcrypto link?
580 millenials downvoted this video
I've watched Bill Gates on a lot of different programs and in certain situations, his body language is very revealing. He seems to be either lying regarding his position in bitcoin, or at least uncomfortable discussing it.
These people are liars, they hold tons of crypto. However it is cutting into the bottom line of the archaic things they are invested in – the old system. They talk against it to gain a better position because they know where it is headed. The fact that they are talking about it speaks volumes, they understand how markets work and how to manipulate a small market.
Anyone that believes in Bitcoin would've bought Yahoo back in the dot com bubble. Obviously blockchain technology has a potential to be something huge. But lol Bitcoin
To those thinking about downvoting this- Charlie Munger is richer than you so is Bill Gates and Warren Buffet.
Gold is worthless physical bitcoin
I agree with these guys. The only crypto coin that is actually producing anything from their crypto coin is coin poker. Out all those coins its the only one I saw here the coin itself has value. The rest can be replaced or will be replaced by usd in the future for their business models.
If you're interested in the future, you won't find it listening to the opinions of these successful 80+ year old men, especially when it comes to technology topics like bitcoin and crypto currencies/assets.
REPLY
2:18 Pretty sick burn to all the people thumbing down lol
“The pursuit of the uneatable(bitcoin) by the unspeakable”.. lol…munger just called all bitcoin buyers unspeakables..
Humans become so evil when their interests are threathened.. these 3 men are a perfect example..
Don’t wear seat belts lest you drown in your own urine?
With thanks! Valuable information!
Don’t wear seat belts lest you drown in your own urine?
With thanks! Valuable information!
Don’t wear seat belts lest you drown in you own urine?
Black on black in the Charger I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Black on black in the Charger I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Black on black in the Charg I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Black on black in the Charg I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Don’t wear seat belts lest you drown in your own urine?
Black on black in the Charger I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
With thanks! Valuable information!
With thanks! Valuable information!
With thanks! Valuable information!
Don’t wear seat belts lest you drown in your own urine?
Black on black in the Charger I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Black on black in the Charger I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Don’t wear seat belts lest you drown in you own urine?
With thanks! Valuable information!
Don’t wear seat belts lest you drown in you own urine?
With thanks! Valuable information!
With thanks! Valuable information!
Don’t wear seat belts lest you drown in you own urine?
Black on black in the Charg I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Black on black in the Charg I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Don’t wear seat belts lest you drown in your own urine?
Don’t wear seat belts lest you drown in you own urine?
With thanks! Valuable information!
Black on black in the Charg I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Don’t wear seat belts lest you drown in you own urine?
With thanks! Valuable information!
With thanks! Valuable information!
of writing i am as well delighted to share my know-how here with colleagues. https://bzp65.com/
With thanks! Valuable information!
Black on black in the Charg I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
With thanks! Valuable information!
of writing i am as well delighted to share my know-how here with colleagues. https://bzp65.com/
Black on black in the Charg I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Don’t wear seat belts lest you drown in you own urine?
Black on black in the Charger I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Awesome! Its in fact amazing paragraph, I have got much clear idea regarding from this piece of https://bzp65.com/
Black on black in the Charg I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Don’t wear seat belts lest you drown in your own urine?
With thanks! Valuable information!
It?s hard to come by knowledgeable people on this subject, however, you https://bzp65.com/
Black on black in the Charg I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Don’t wear seat belts lest you drown in your own urine?
Don’t wear seat belts lest you drown in your own urine? https://bzp65.com/
With thanks! Valuable information!
Black on black in the Charg I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Don’t wear seat belts lest you drown in you own urine?
good stuff. I will make sure to bookmark your blog. https://bzp65.com/
Don’t wear seat belts lest you drown in you own urine?
Black on black in the Charger I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Don’t wear seat belts lest you drown in your own urine?
here! Good luck for the next! https://bzp65.com/
Black on black in the Charger I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Black on black in the Charg I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
good stuff. I will make sure to bookmark your blog. https://bzp65.com/
With thanks! Valuable information!
Black on black in the Charger I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Black on black in the Charg I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
With thanks! Valuable information!
I got what you mean,saved to fav, very decent site. https://bzp65.com/
Don’t wear seat belts lest you drown in you own urine?
With thanks! Valuable information!
YIN’S Blog: 功德林上海素食 YIN’S Blog: 功德林上海素食
Cota a meneio – Para acervo de acometimento.
Manchester United boss Sir Alex Ferguson admits his side can make the most of a free weekend ahead of next week’s last 16 Champions League tie against AC Milan. FA Cup exit affords Manchester United welcome break ahead of AC Milan Champions League tie
Hmph, olen näköjään _elokuussa_ sanonut lukevani tämän kohta ja kuitenkin luin vasta nyt. Todella huonoa käytöstä, ja vielä kehtaan itseäni faniksi sanoa. :(Mutta kirja oli todella mahtava varsinkin kielellisesti. Tähän mennessä kyllä parasta Enorantaa. Varmasti paljon hienoja kirjoja on tulossa vielä!
David Beckham and his wife Victoria have released the first picture of the former England captain with his new daughter, Harper. Beckhams release first picture of David with new daughter Harper
I think this is among the most significant info for me. And i’m glad reading your article. But wanna remark on some general things, The website style is wonderful, the articles is really great : D. Good job, cheers
Chairman Dave King has been warned it could take him five years to bridge the gap between Rangers and Celtic – and longer if his vow to spend big this summer fails to clinch promotion. Rangers face years in Celtic shadows as the finance gap widens between Old Firm rivals
Sergio Aguero is out of Manchester City’s clash with Aston Villa at the Etihad on Wednesday night with a groin strain. Aguero limped off after scoring against Everton on Saturday. Sergio Aguero blow for Manchester City as striker is ruled out of Aston Villa clash with groin injury
NEVER quit moving. Goals!|
I can tell that you’re trying to be uncontroversial with your post, but please know that the more controversial opinions will make for healthy debate when argued respectfully..and this IS your blog after all, let your views rule here!
You are a very persuasive writer. I can see this in your article. You have a way of writing compelling information that sparks much interest.
I cannot thank you enough for the article.Really looking forward to reading more. Want more.
You are a very persuasive writer. I can see this in your article. You have a way of writing compelling information that sparks much interest.
You completed a number of nice points there. I did a search on the subject and found nearly all people will have the same opinion with your blog.
… [Trackback]
[…] There you will find 40628 more Information to that Topic: tradingbtc.com/2018/07/26/charlie-munger-bitcoin-is-worthless-artificial-gold-cnbc/ […]
… [Trackback]
[…] Find More Information here to that Topic: tradingbtc.com/2018/07/26/charlie-munger-bitcoin-is-worthless-artificial-gold-cnbc/ […]
… [Trackback]
[…] Find More to that Topic: tradingbtc.com/2018/07/26/charlie-munger-bitcoin-is-worthless-artificial-gold-cnbc/ […]
… [Trackback]
[…] Info on that Topic: tradingbtc.com/2018/07/26/charlie-munger-bitcoin-is-worthless-artificial-gold-cnbc/ […]
… [Trackback]
[…] Find More here on that Topic: tradingbtc.com/2018/07/26/charlie-munger-bitcoin-is-worthless-artificial-gold-cnbc/ […]
… [Trackback]
[…] Find More here to that Topic: tradingbtc.com/2018/07/26/charlie-munger-bitcoin-is-worthless-artificial-gold-cnbc/ […]
… [Trackback]
[…] Find More Information here to that Topic: tradingbtc.com/2018/07/26/charlie-munger-bitcoin-is-worthless-artificial-gold-cnbc/ […]
… [Trackback]
[…] Find More on that Topic: tradingbtc.com/2018/07/26/charlie-munger-bitcoin-is-worthless-artificial-gold-cnbc/ […]
… [Trackback]
[…] Info to that Topic: tradingbtc.com/2018/07/26/charlie-munger-bitcoin-is-worthless-artificial-gold-cnbc/ […]
… [Trackback]
[…] Find More to that Topic: tradingbtc.com/2018/07/26/charlie-munger-bitcoin-is-worthless-artificial-gold-cnbc/ […]
… [Trackback]
[…] Find More here on that Topic: tradingbtc.com/2018/07/26/charlie-munger-bitcoin-is-worthless-artificial-gold-cnbc/ […]