Charlie Munger: Bitcoin Is Worthless Artificial Gold | CNBC

Bitcoin is the biggest pyramid scheme yet.

poor guy!

He looks so stupid now

Spot on. As someone who studied computer science I'm fascinated by the underlying technology, but the application of using a blockchain as a currency? That's for anarchists and gamblers, and the better your society functions the fewer you have of those.

Lol you remind me of a old fool that needs to kick the bucket

btc was 9k back then and went to 69k and now its 25k
it outperform all their investments up to today

3 of the biggest idiots on the face of this earth. One of them who's trying to control the population. The other 2 who know nothing about cryptocurrency.

Charlie Munger and Warren Buffett speak the truth - I bet O'Leary and Cuban wished that they had listened to them now. Cryptocurrency is just a Millennial Modernized Ponzi Scheme, it is the Tulip Bubble of the 1700s, it is not a currency it is pure speculation and the poster child for the "Greater Fool Investment Theory". It was invented to facilitate an easier and more clandestine way to transfer money for money launders, con-artists, fraudsters, cartels, terrorists, and kidnappers.

Investing in Bitcoin is the belief in that a guy who just keeps his computer running 24/7 to mine, is producing value. On its own, that's problematic, as an investment, it's headless.

Bitcoin is people currency,bitcoin is freedom, we people agree with eachother to accept bitcoin,No banks ,No govt,transparent, algorithm,decentralised.and you all people know you are late ..and you dont

Crypto. The newest, shiniest Ponzi Scheme.

Been trying all this while to get back financially, till this name above team that came to my rescue with a great investment plan I never.

"How dare they get upset when we call them scumballs".

Always listen to your elders - say tank you FTX and bitcoin investors!
Mr Buffet please don't tell them I TOLD YOU SO 4 years ago!

People trying to equate useless virtual money made up by useless algorithms with actual currency like the USD backed by the most powerful military in the world. When Bitcoin has its own 10+ aircraft carriers it can use to threaten countries to use it “or else” come talk to me.

Sears said Amazon will never make it.

This aged well.

Bitcoin isn’t the only rat poison created by the gods.

mhhh Elon musk has a different opinon

We had the same thing back when email and internet was taking over, the older generations didn’t understand it and pushed away, but it still took over anyway

Major Fraud (Microsoft)

Crimes

Isnt the Dollar worthless as well ? But it still works. It’s not producing anything, it’s just a number on a bank account backed by nothing and a bunch of printed paper circulating. Sounds familliar right ? People still accepting it and not wanna get paid with gold or silver.
If this works why not bitcoin which is limited.

If your investing experience is less than 10 years, then I suggest you start with 5-6 portfolio, Don't get too high on a single company. learn the process first. Initial diversification isn't bad, it really worked for me during my early years. Remember that the reason for every investment is to make good gain and protection of capital is a must.

Warren Buffet actually looks like a puppet. His mouth looks like he could be someone that someone else is controlling and speaking for using ventriloquy.

Munger talks so slowly, it's hard to tell when he's done with his overall comment. It's getting time for these guys to check out, seriously. What incredible dinosaurs.

Looks like he was right about Bitcoin after all.

How can anyone listen to Bill Gates and say he's anything other than a moron. He needed to stick to tech. He clearly has too much time to think. "Bitcoin doesn't produce anything" WTF does gold produce? It's a store of value.

Bitcoin is in my portfolio (<5%).
Why? Because if bitcoin did become the goto digital reserve asset then my 5% can 10-20 fold easily.
Will I be willing to invest more than 5% of my portfolio into bitcoin? No

Old man yells at bitcoin.

cool, I became a millionaire on this useless btc.. eheheheh who is right now?

Tulips, rat poison, artificial $, … Mr. Munger is the bomb! (I mean it in a nice way). I like him because he speaks his mind. He is a gem.

money is worthless artificial paper

This makes me want to buy Bitcoin

Now is the best time to buy in and own more bitcoin and cryptos as the market is dipping.

Hey guys if anyone has any worthless gold and silver I’ll trade some dogecoin for it.

Doesn’t mean you can’t makes tons of money with crypto but I doubt it will stand the test of time. Maybe I will live long enough to find our?

It’s already proven that’s not even artificial gold.

Thats a good one. "if i criticize their wife they don't get all upset about it."

“Bitcoin” the first virtual stage show before a couple of billions of sometime interested spectators. Definitely not worth the virtual admittance.

The guy selling pick axes while spreading a false rumor of gold is how I liken it. The price is driven up and creates the money making cesspool for them to sell pick axes to the mining guys. It’s no where near gold, fake rumor or not.

I 100% agree.

Bit coin is like a pyramid scam but i think people will make money on it for 10-15 years more and if people are lucky it will not crash to zero in 24 hours

That is how you laugh when a billionaire cracks a joke!

That's 500$ Billion right there.

I mean, they had a point but it didn’t really stand out a lot. Crypto is here to stay and waiting to reach its full potential. New investors should do their research on crypto, it’ll be very useful on the long run.

Old and out of touch. They can't control it. So, they trash cryptocurrency.

Bitcoin is attractive like Dolar, one big difference is suppply, Dollar supply means its value will go down and Bitcoin supply means prices will go up, besides censorship resistance and many more advantages

Do rocks have worth? Gold is a metal, a rock. It's pretty. You can touch it, but you can't eat it. It can't be used to make swords nor aircraft. But mankind has agreed that it has value.
Dollars are finely cut pieces of paper (technically cotton and linen). They're not that pretty, but everyone wants them (demand) and they're in limited supply. Water falls from the sky and covers
60% of the planet, but is still extremely valuable. Many people do not have much of it (a lot of demand) and it is hard to get it, when and where you need it. Air, clean air, is also in high demand.
Economics is all about supply and demand, and there is a secured (encrypted) supply and a current and real demand for Bitcoin. It has value, even if you can't see it, nor touch it.

Is worthless even tho people use it as a type of currency. Got it.