Charlie Munger: Bitcoin Is Worthless Artificial Gold | CNBC

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CNBC

CNBC

6 жыл бұрын

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.
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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.

Пікірлер: 2 500
@clarasarria9397
@clarasarria9397 3 жыл бұрын
Title: Bitcoin is worthless artificial gold Video: Bitcoin is worthless artificial gold ✅
@davidpaxton6402
@davidpaxton6402 3 жыл бұрын
Abscence of bait n switch verified!
@SimplyAndy
@SimplyAndy 3 жыл бұрын
Ya, that's rare on this platform.
@Jasem89
@Jasem89 Жыл бұрын
I don’t why I laughed so hard but thanks I guess
@esh8400
@esh8400 4 жыл бұрын
"If they get mad, they're gambling" So true!
@Mwxtkxns261
@Mwxtkxns261 4 жыл бұрын
These guys want bitcoin to be worthless when we go cashless so that society can't create an underground economy. the more bitcoin is worth the larger the scope of this underground economy! its big picture these guys are thinking about
@missionpupa
@missionpupa 4 жыл бұрын
@@Mwxtkxns261 Bitcoin is a public blockchain. Thats the kind of transparency you wouldnt even see the banks provide.
@missionpupa
@missionpupa 4 жыл бұрын
@Sebastian this is a terrible argument, Gold at one point was very volatile, simple because it was still new in the market. Now gold is one of the most stable asset out there. Bitcoin will keep going up in price for at least another 30 years. So expect a lot more volatility, you dont get to 1 million per bitcoin by being stable, think about what youre really saying.
@billybillson9831
@billybillson9831 4 жыл бұрын
@@missionpupa Yeah! I carry around 24k gold when I buy a slurpee at seven eleven because it can be used as currency!!!
@missionpupa
@missionpupa 4 жыл бұрын
@@billybillson9831 or if you want to knock someone out, just hit them on the head with it, utility!
@brotheraugustine
@brotheraugustine 4 жыл бұрын
Munger is clearly the alpha here, manspreading like a champion and accusing random people of being animal spirits
@techwithwhiteboard3483
@techwithwhiteboard3483 4 жыл бұрын
😂lol he has zero influence on this currency unlike govt regulated currency so if he ever needed help he would approach govt and have his way but not so much on bitcoin
@LovesHighGround
@LovesHighGround 4 жыл бұрын
These alpha/beta labels are just another example how we as a species are very much still in our infancy.
@xxbabaxx12
@xxbabaxx12 4 жыл бұрын
@@techwithwhiteboard3483 for most people who buy into bitcoin, the ultimate goal trade it for another currency and use that to buy themselves a new house or something. In which case yes he has alot of influence on this currency, because he is holding onto the real deal in which people trade bitcoin in for it. Bill is right in that the tech behind it is great and holding onto bitcoin as a symbol of the tech is awesome, but to bet it as an security for your future, it is not investment it is gambling.
@johnbeach846
@johnbeach846 3 жыл бұрын
@@xxbabaxx12 i will take posts that didnt age well for 500, Alex
@xxbabaxx12
@xxbabaxx12 3 жыл бұрын
@@johnbeach846 you still comparing it to dollars tho, which is exactly my point. In the end you just want bitcoin to go up and trade it into dollar bills to buy yourself something nice. Which goes against the fundamental of bitcoin to replace fiat currency, in the end you will just turn it into fiat to buy yourself something nice. Stop pretending you cared about the concept of bitcoin as much as it goes up in value to make you rich in "fiat".
@thebigballer2434
@thebigballer2434 6 жыл бұрын
"i don't expect every investment bank to agree with everything i think, theres a lot of animal spirits in investment banking" now that is a quote
@chuco915C
@chuco915C 3 жыл бұрын
What did he mean by that? They’re emotional?
@fendermon
@fendermon 3 жыл бұрын
@@chuco915C Yes
@griotolu7040
@griotolu7040 3 жыл бұрын
lmao
@coolbuddydude1
@coolbuddydude1 3 жыл бұрын
Investment banks will do anything to make money. There is only upside for them. When they lose a little, they will simply write it off their taxes, and when they lose a lot, a bail out.
@JoelChenFa
@JoelChenFa 3 жыл бұрын
@@coolbuddydude1 More accurately investment banks will do anything to make you speculate your money and charge you a commission for said privelege.
@IcedSky24
@IcedSky24 3 жыл бұрын
“They criticize their wife or something they don’t get all upset about it” 🤣🤣
@Kaodusanya
@Kaodusanya 3 жыл бұрын
this is the mind set of the old and out of date. That comment solidified just how irrelevant they are.
@Dk-ie4te
@Dk-ie4te 2 жыл бұрын
@@Kaodusanya you are just proving his point.
@JanLCn
@JanLCn 2 жыл бұрын
@@Kaodusanya are you like some medieval knight that has to duel whoever insults your wife's honor or something?
@DeezNutzzzzzzzzzzz
@DeezNutzzzzzzzzzzz 2 жыл бұрын
@@Kaodusanya 🤡
@DrummerJay74
@DrummerJay74 2 жыл бұрын
@@Kaodusanya I’ve got some really precious air I’d like to sell you. interested?
@SimplyAndy
@SimplyAndy 3 жыл бұрын
''If we criticize something that they own because they only want it to go up tomorrow, they feel we are hurting them and they get really upset about it. If they really like(d) what they own, what difference would it make... you know. (If) I criticize their wife or something they don't get all upset about it... " Haha, that was funny!
@MightyMonk360
@MightyMonk360 2 жыл бұрын
These guys are so cool 😎
@pauldacus4590
@pauldacus4590 5 жыл бұрын
3 guys with net worth of $178 billion who hate BTC vs a bunch of rankled BTC speculators who've lost their shirts... I'll take the former.
@missionpupa
@missionpupa 4 жыл бұрын
You forgot that they are also very old, and they've missed out on the Silicon Valley comapnies. Except ofcourse Bill Gates, who dont think bitcoin is as bad as these 2 guys think. In fact, Bill had positive things to say about bitcoin, but I think he is more neutral. Although they have good advice, you need new role models in investing, this is a completely different world than they used to live in. Look up Chamath or Sam Altman;. Times are changin
@pauldacus4590
@pauldacus4590 4 жыл бұрын
@@missionpupa I know and like Chamath.
@missionpupa
@missionpupa 4 жыл бұрын
@@pauldacus4590 Do you know about his Fund called Social Capital? It has been outperforming the SPY and Berkshire for years now. Their philosophy of investing is what works today. Its not just about moats, its about positive change. Because of the tech, it has made this possible
@pauldacus4590
@pauldacus4590 4 жыл бұрын
@@missionpupa Yeah, I like him alot. When CNBC interviewed him and asked him if companies should be allowed to go bust, and his simple reply was, "Yes". And it just hung there, it was so great. And asked about billionaires going broke, he said, "Who cares?" I love this guy. www.cnbc.com/2020/04/09/chamath-palihapitiya-us-needs-to-let-hedge-funds-billionaires-fail.html
@Solid_Snake88
@Solid_Snake88 3 жыл бұрын
David Cat No it doesn’t LMAO crypto has insane energy and fees cost, and it is not traceable or refundable LMAO have fun buying on the internet in bitcoin and asking for a refund LMAO
@lukas6626
@lukas6626 3 жыл бұрын
Hearing Bill Gates say he would short it at 10k 2 years later is just amazing
@michaelvanburen6010
@michaelvanburen6010 3 жыл бұрын
Lolll if only someone found a way to let him do it. Maybe he would have sold all his farmland to cover his losses.
@natehiggers42069
@natehiggers42069 3 жыл бұрын
He would still make a ton of money when bitcoin ultimately collapses
@natehiggers42069
@natehiggers42069 3 жыл бұрын
@J RP bitcoin will ultimately collapse. And it isn't risky to not own it. Missing out on potential profits isnt a "risk"....... You can't lose what you never offered
@natehiggers42069
@natehiggers42069 3 жыл бұрын
@J RP you are making a false comparison between "own bitcoin" and "be a slave forever". Many people ca financial freedom in many ways. I agree that toiling away at a mediocre job is not financial freedom. That doesn't bolster the argument that bitcoin is a long term investment. Bitcoin is extremely vulnerable due to many factors. First and foremost, it has the ability to be completely outlawed by any government at any time. Secondly, it has serious scalability concerns. Third (and probably most practical), it has very little ability to operate as a practical currency due to the transaction speed. And last but not least, it has serious risks to being a fungible asset. Bitcoin (and crypto in general) has no serious long term future because it is mainly a ponzi scheme. It relies on the hope that more people will become excited about it.
@natehiggers42069
@natehiggers42069 3 жыл бұрын
@J RP if you are short term minded, then yes. Crypto looks good. But if you have any idea about long term wealth, you should see the serious risks that threaten all Cryptos. The fact that you are becoming so emotional about your argument is proof that your conviction isn't very strong.
@turboZ3
@turboZ3 5 жыл бұрын
THERE IS SO MUCH $$$ IN THAT ROOM
@bornesmouthbarnsman
@bornesmouthbarnsman 5 жыл бұрын
lol munger's clapback is hilarious! "I think it's a scumball activity. Does that serve you better?" LMAO I hope i can be half the madman munger is when I'm 90.
@DrummerJay74
@DrummerJay74 2 жыл бұрын
Why wait?😂
@joeyf6390
@joeyf6390 2 ай бұрын
It's only up 1100% since this video was made. People will play this and laugh at how out of touch these old people are. People laughed at the Internet once too.
@warbob2430
@warbob2430 3 жыл бұрын
Warren buffet and Charlie Munger are successful investors, because they only invest in companies etc that they understand. It's why Warren Buffet has missed out on a lot of investments on computer companies, because he doesn't understand them. Warren Buffett would never invest in bitcoin, because it's not his expertise. It's simple, stick to what you know.
@crypto_div
@crypto_div 3 жыл бұрын
This video will go down in history one day. Reminds me of the guy in the 90s who said “what is internet anyway?”.
@soulg1969
@soulg1969 3 жыл бұрын
It will be a case study of the older generation (no matter how smart) not getting the new thing.
@switchbranch8411
@switchbranch8411 3 жыл бұрын
@@soulg1969 agreed
@ryandavies6243
@ryandavies6243 3 жыл бұрын
Haha no you will be studied because people want to know how you fell for this
@ebygeorge6399
@ebygeorge6399 3 жыл бұрын
I've studied blockchain and cryptocurrency and I agree with the old folks.
@switchbranch8411
@switchbranch8411 3 жыл бұрын
@@ebygeorge6399 what’ve you studied? How come you threw away a 14x return on new technology?
@WavysWay
@WavysWay 4 жыл бұрын
it almost seems as if bill is just saying this because he doesn't want to upset his two buddies next to him.
@DanielNyong
@DanielNyong 4 жыл бұрын
Warren didn’t even like his business enough to invest in it.
@crimsonnite9291
@crimsonnite9291 4 жыл бұрын
@@DanielNyong Bill gates literally sold just about all of his stocks in Microsoft. For him at this point microsoft means nothing to him.
@missionpupa
@missionpupa 4 жыл бұрын
Exactly, look at how he hesitated when he started talking about blockchain. Bill is the only one who comes close to understanding bitcoin.
@Spacemonkeymojo
@Spacemonkeymojo 4 жыл бұрын
Feralz blockchain isn't bitcoin. Blockchain might have value, Bitcoin does not.
@missionpupa
@missionpupa 4 жыл бұрын
@@Spacemonkeymojo touche, but he hesitated, which was my point, he is not saying what he really thinks because of Charlie and Warren is there. Watch other interviews where bill talks freely about bitcoin.
@jeffcleckley
@jeffcleckley 6 жыл бұрын
18 billion in worthless paper... hahaha
@seyarhamidi6017
@seyarhamidi6017 3 жыл бұрын
This didn't age well :D
@Anonymous-rn8ol
@Anonymous-rn8ol 3 жыл бұрын
It's worth isn't based on anything. That's worthless. The price is only high because people are buying it. There's no fundamental reason for it to be anywhere near its price.
@postforums6801
@postforums6801 3 жыл бұрын
bitcoin is still worthless as it's simply a token of appreciation given to you buy a computer software program. You somehow attach value to that coin in the form of real money. Proving you don't value the coin for the coin, but how you can manipulate people to take the coin for their goods or services.
@closetcleaner
@closetcleaner 2 жыл бұрын
The USD is a worthless piece of paper. In fact, all currencies are.
@yunusemreyazc848
@yunusemreyazc848 2 жыл бұрын
so bitcoin is worthless too cause you give bitcoin value by looking its dollar price
@errrrrr5545
@errrrrr5545 Жыл бұрын
This aged well.
@primicerius
@primicerius Жыл бұрын
Yes, it did. TO THE FLOOR!
@kaedenwilder4549
@kaedenwilder4549 Жыл бұрын
This won’t age well….
@takiherosquires1372
@takiherosquires1372 4 ай бұрын
@@primicerius im back from the future, it didnt age well
@simba8665
@simba8665 Ай бұрын
😂😂😂 I dare you to delete your comment
@LeightonThompson-kw9yv
@LeightonThompson-kw9yv Ай бұрын
Will you delete yours in 2026 when crypto dies? Charlie monger and Warren will be proven in 2026
@michaele1278
@michaele1278 2 жыл бұрын
Two different styles: Gates is cautious and watches his words, Munger lets her rip!!! Haha.
@R3tr0v1ru5
@R3tr0v1ru5 2 жыл бұрын
Munger making himself look like an idiot.
@MMG008
@MMG008 3 жыл бұрын
Took this one out of the cellar after 2 years. Ageing well, still needs another few years to come to its full potential.
@sashex9126
@sashex9126 3 жыл бұрын
Lmao
@SimplyAndy
@SimplyAndy 3 жыл бұрын
Haha true. Only time will tell.
@Salem-no8hc
@Salem-no8hc 2 жыл бұрын
Didn’t age well 10 months later though
@stonk1851
@stonk1851 2 жыл бұрын
@@Salem-no8hc lol it aged perfectly crypto market is up since then
@someghosts
@someghosts 2 жыл бұрын
@@stonk1851 I don’t think he was saying the market would never go up
@L_MD_
@L_MD_ 3 жыл бұрын
Well this didn’t age well. Glad I didn’t listen .
@zacallen2520
@zacallen2520 3 жыл бұрын
2:13 this time stamp shows bill gates said he would short Bitcoin almost three years ago. This just goes to show that even some of the richest people in the world are wrong. But the thing is, he probably knows these kinds of currencies are a threat to the current system we have. They just want you to believe what they preach. Just think about! They’re entire livelihood relies on our current financial system. Bill gates is a billionaire in American dollars, he’s not a billionaire in Bitcoin. Think about that.
@zacallen2520
@zacallen2520 3 жыл бұрын
2:17 and then also right here. When Warren says that people are gambling on crypto and that if they get mad when it’s bad mouthed they are just gambling. He says if people bad mouth Berkshire Hathaway he would just buy more of it if the stock falls. Now this was three years ago! How well off would you have been off if you bought Bitcoin every time the price fell over the years? Exactly. These billionaires are protecting their own interests because their billionaires in American dollars. Their not billionaires in (or crypto) Bitcoin.
@josereyes1148
@josereyes1148 2 жыл бұрын
How bout now
@zacallen2520
@zacallen2520 2 жыл бұрын
@@josereyes1148 I was wrong and I lost a lot of money investing in cryptocurrencies. I have since realized it’s a pyramid scheme based off of the greater fool theory and that I was blinded by greed. 😂 I’m an honest man.
@josereyes1148
@josereyes1148 2 жыл бұрын
@@zacallen2520 I'm sorry you lost money. At least you are honest. I don't know much about it but I was afraid to invest into it.
@chaseraymond3916
@chaseraymond3916 3 жыл бұрын
They rich see economic crisis as a garage sale also the rich stays rich by investing and diversifying their portfolio with stocks, cryptocurrency and forex trading which is the widest thing every individual need to do and it's really profiting
@roddenvirginia2374
@roddenvirginia2374 3 жыл бұрын
yeah you're right one need to diversify to have different streams of income.
@ejetamartins6870
@ejetamartins6870 3 жыл бұрын
diversifying is the best key to wealthy life
@kelvinmark6916
@kelvinmark6916 3 жыл бұрын
Do you know we've got to see people remain poor and not being millionaire due to igonrance of investing that saddens me.
@hannacollins7818
@hannacollins7818 3 жыл бұрын
not because of igonrance, it's just because of the high rate of unproductive brokers in the market.
@alisharodriguez6604
@alisharodriguez6604 3 жыл бұрын
@@hannacollins7818 you've got to see unprofessional broker but we still got lucrative and profitable professional brokers out there looking for investors.
@MrMarkEdward
@MrMarkEdward 3 жыл бұрын
I love watching these videos years later.
@RWAfuture
@RWAfuture 3 жыл бұрын
Today it's not about return ON capital. Today it is about return OF capital
@keithm3774
@keithm3774 3 жыл бұрын
In what context are you referring to?
@rickfrompawnstars5550
@rickfrompawnstars5550 3 жыл бұрын
2 Years later “Artificial Gold” is worth 40k per coin 😂
@oliverjohnson271
@oliverjohnson271 3 жыл бұрын
It doesn't really change his point, does it? Bitcoin is still not an "asset" and it will never be. Bitcoins don't produce any "value" you can only profit if you specualte on them.
@oliverjohnson271
@oliverjohnson271 3 жыл бұрын
I will just go ahead and state some points that most of the critics criticize: 1. (As I already stated) Bitcoin is not an "asset" it produces nothing like a company would... That means that it is an speculation at least if we define it with the definitions of the value investors like Warren Buffet, Charlie Munger, Graham Stephen... (To be fair it is ranked as a commodity) 2. Bitcoin has way too much volatility for a currency 3. Potential goverment regulations 4. The risk of it getting outdated by a new technology 5. The probability of it getting never really used as a currency... (This point is similar to point 2) The problem is, that bitcoin might cause a stagnation, because why would any bitcoin holder buy something with his bitcoin, if he believes that it will rise in price... Someone might argue, that this would be a postive point, because you don't have inflation and even though it might be true on a speculation, it is not if you want to have a currency. A currency needs inflation in order to survive as a currency
@starchaser28
@starchaser28 3 жыл бұрын
@@oliverjohnson271 The value is in it's ability to securely store and accurately account for the amount of monetary "energy" people have deposited in it, with 0 inflation forever. You can then transfer that monetary energy (in unlimited quantity) at light speed and very low cost directly between users with no middlemen. That in itself carries an immense value for global economic exchange.
@ControltheTrade
@ControltheTrade 3 жыл бұрын
@@oliverjohnson271 👏 well said . The financial world has lost its collective mind
@oliverjohnson271
@oliverjohnson271 3 жыл бұрын
@@starchaser28 Well, yes you don't have any inflation because it is a speculation right? I mean as far as I understand it a "currency" NEEDS inflation otherwise people don't want to buy anything with it. Take yourself as an example why should you buy anything with bitcoin, if you believe the price of it will continue to rise. A currency shouldn't be an inflation. It has to get inflated in order to work.
@radicaljohn
@radicaljohn 5 жыл бұрын
What ever you hear on cnbc, do the opposite.
@sevencolours5014
@sevencolours5014 4 жыл бұрын
Pretty accurate. It's called greater fool. Even when you know your asset is worthless, you still buy it, because you hope someone else will pay more. Tulip mania with computer bits.
@subscribetomyyoutubechanne1543
@subscribetomyyoutubechanne1543 4 жыл бұрын
Finally an intellectual here
@cloudsoil
@cloudsoil 3 жыл бұрын
@@subscribetomyyoutubechanne1543 Finnaly someone who doesnt know the technology behind bitcoin..read..blockchain
@yuufgreat9935
@yuufgreat9935 3 жыл бұрын
It doesn't make sense since a dollar is also just a piece of paper its worthless you can't eat it live in it use it etc all you can do is to fool someone else and give it to him so fundamental value has to do alot with these things maybe you are not old enough to understand fundamentals
@sevencolours5014
@sevencolours5014 3 жыл бұрын
@@yuufgreat9935 First, learn to use punctuation, if you even know what it means. Second, who says you should store your savings in dollars? No one.
@yuufgreat9935
@yuufgreat9935 3 жыл бұрын
@@sevencolours5014 you comment has alot of bias you should just delete it
@banit1122
@banit1122 3 жыл бұрын
Sounds like he is talking about the US dollar instead.
@drod3434
@drod3434 3 жыл бұрын
But Bitcoin is priced in dollars.
@SiLoMixMaster
@SiLoMixMaster 3 жыл бұрын
@@drod3434 🙈
@pushkartawde3447
@pushkartawde3447 3 жыл бұрын
@@drod3434 🙈
@gabbar51ngh
@gabbar51ngh 3 жыл бұрын
You pay your taxes in dollars not Bitcoin. If you live in another country. Your country's central banks most likely hold dollars in reserve. Lel
@stevenjay6300
@stevenjay6300 3 жыл бұрын
@@drod3434 just for now it is, later dollor will be indicated as Satoshi
@moviebuffkkj8127
@moviebuffkkj8127 6 жыл бұрын
All these kids here thinking they are smarter than these men. Lol. Do you really think these people dont understand bitcoin.
@whiteninjaplus5
@whiteninjaplus5 6 жыл бұрын
Surya 676 But they are old how can they know things
@jaykay3811
@jaykay3811 5 жыл бұрын
They think they know more about investing than Warren Buffett and more about technology than Bill Gates Delusions of grandeur seem to be what bitcoiners are all about
@JohnDoe-mv1sm
@JohnDoe-mv1sm 5 жыл бұрын
warren and charlie certainly don't understand the tech behind it.
@lukas1327
@lukas1327 5 жыл бұрын
Maybe they dont understand the technical aspect of it but i think that they very well understand the economical/bussines aspect of it
@painexotic3757
@painexotic3757 5 жыл бұрын
One man doesn't know everything. This is called an "argument from authority". Just because he's specialized doesn't mean he knows everything lol.
@davidgrey9287
@davidgrey9287 4 жыл бұрын
It’s code that can not be copied. It’s data. Data is a commodity.
@O.Nerys.1971
@O.Nerys.1971 3 жыл бұрын
The printed paper money is the real worthless artificial gold.
@sinamiri53
@sinamiri53 3 жыл бұрын
If I’m a billionaire over 90 years of age please don’t invite me to any tv program. Don’t want to make a fool of myself in that age. Sum of their billions is worth half of bitcoins market cap as of today :)
@torogamers7113
@torogamers7113 3 жыл бұрын
Satoshi nakamoto : " i dont think so "
@jimfaust6342
@jimfaust6342 3 жыл бұрын
Who?
@chaitanyana7700
@chaitanyana7700 2 жыл бұрын
@@jimfaust6342 shiba inu
@xivx4679
@xivx4679 3 жыл бұрын
@2:17 Warren dropping gems for those who dig
@AB-th3vp
@AB-th3vp 3 жыл бұрын
The GDP of Mexico sat on three stools
@user-kt8cg9mx1n
@user-kt8cg9mx1n 4 ай бұрын
who is laughing now? Not an asset class...
@michaelsandoval7717
@michaelsandoval7717 3 жыл бұрын
People use real money to buy fake money. That’s why fake money has value. If people didn’t buy fake money with real money, fake money would be worthless. Bitcoin is worth $0. Why are people buying & selling Bitcoin for $47,000?? Because some people are purchasing it with real money. Total insanity. If powerful people throughout the world announced that they will purchase 8 inch fingernails for $1. Somebody somewhere will offer $1.10 for your 8 inch fingernail. Eventually others will offer $1.25 & so on. That 8 inch fingernail will be worth $1.25, & it may gain value continuously...BECAUSE PEOPLE ARE BUYING THEM! Get it???? If people started buying dollar bills for $1.25, that dollar would be worth $1.25!!! It’s nuts 😳
@dmonleon24
@dmonleon24 3 жыл бұрын
40 THOUSAND $ BABY
@ionsoroceanu76
@ionsoroceanu76 3 жыл бұрын
Still worthless
@dmonleon24
@dmonleon24 3 жыл бұрын
@@ionsoroceanu76 didn’t ask
@ionsoroceanu76
@ionsoroceanu76 3 жыл бұрын
@@dmonleon24 :) If you say so.
@dmonleon24
@dmonleon24 3 жыл бұрын
@@ionsoroceanu76 :D
@dylanneal7484
@dylanneal7484 3 жыл бұрын
@@ionsoroceanu76 how is something literally u can sell for 40 k and couldve bought two years ago for less than half the price worthless, that is the literal defenition of worth
@fifteenbyfive
@fifteenbyfive 3 жыл бұрын
"I'd short it (Bitcoin) if there was an easy way to do it." ~ Bill Gates 2018 That's the kind of guy I'm going to ask about vaccines. He's a software guy I mean why not.
@XShollaj
@XShollaj 2 жыл бұрын
Gates is the type of guy to probably own secretly more than half of the mining pools.
@vedantkale1163
@vedantkale1163 6 жыл бұрын
Warren buffett nailed it in the end...... People who do not understand finance are always going to think bitcoin is a great thing.... But we know what it really is
@mohba01
@mohba01 2 жыл бұрын
LoL..this didnt age well
@maximilianoparra9442
@maximilianoparra9442 2 жыл бұрын
This aged well 😂
@apollo-aries
@apollo-aries 2 жыл бұрын
F'ken moron this aged like trash. Imagine trusting billionaires like they're your friends lmao
@mcfolcholer2015
@mcfolcholer2015 2 жыл бұрын
@@apollo-aries well a lot o people seems to trust Elon musk so...........
@apollo-aries
@apollo-aries 2 жыл бұрын
@@mcfolcholer2015 and they too will get fked
@TheeJeffrocco
@TheeJeffrocco 5 жыл бұрын
What makes $5 worth $5. Someone will give me 5-$1 bills for it. What if someone says, "I will give you 6-$1 bills for that $5 bill." ? Now that $5 bill is worth $6. Why is gold SO valuable? Because someone is willing to pay X amount for it. Do we even NEED gold for any purpose?
@bigqwertycat
@bigqwertycat 2 жыл бұрын
Yes, it's an extremely useful material in computer electronics as it doesn't corode. It's useful as a heat reflective in satellites and to insulate heat ears, like in sports cars. Gold had real engineering value.
@michaelopolski5759
@michaelopolski5759 2 жыл бұрын
Yes...Gold can be used to make other things. You need to go research things before you comment....seriously!
@tomr6955
@tomr6955 3 жыл бұрын
You'd be hard-pressed finding a CNBC clip dissing bitcoin these days
@cyka132
@cyka132 3 жыл бұрын
These days are over at the Moment
@tomr6955
@tomr6955 3 жыл бұрын
@@cyka132 Agreed! The narrative has entirely changed. No hype = Crypto plunge Sell Sell Sell
@HenryPaulThe3rd
@HenryPaulThe3rd 3 жыл бұрын
That’s because one of their main sponsors now is GrayBlock. If they start dissing Bitcoin they would lose that sponser. CNBC is bought and paid for by crypto shills
@michaelopolski5759
@michaelopolski5759 2 жыл бұрын
They need clicks so they decided to just play along.
@ElectricityTaster
@ElectricityTaster 4 жыл бұрын
1:06 Charlie Munger making it seems like he's just about to say something more so people shut up and let what he just said sink in.
@mickyg9689
@mickyg9689 3 жыл бұрын
Lmao true his face😂
@captainoblivionthicc1004
@captainoblivionthicc1004 3 жыл бұрын
Yes bro i like him alot his full of wisdom
@khatack
@khatack 6 жыл бұрын
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.
@johncitrowske9922
@johncitrowske9922 2 жыл бұрын
Did you ever buy any? 😂
@wujujuju5111
@wujujuju5111 2 жыл бұрын
lol aged good didnt it
@stonk1851
@stonk1851 2 жыл бұрын
Aged very very poorly, shame that you could have 20x'd your money ahahahaha
@hazelcortez8976
@hazelcortez8976 2 жыл бұрын
It aged really well 😂😂😂
@filipelimartins
@filipelimartins 2 жыл бұрын
It crashed?
@joshc7865
@joshc7865 Жыл бұрын
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
@d8l835
@d8l835 Жыл бұрын
Not even remotely the same things
@SharifSourour
@SharifSourour 6 жыл бұрын
Buffett makes an excellent point at the end of not needing to be hurt over criticism of your investment or investment strategy, this I fully agree with, we all have the right to do and say what we want, ultimately it is up to the market and our own responsibilities that will determine the intrinsic value of our practice. That is why for me, once I invest in crypto with my coming project, I will not feel remorse over my decision no matter what anybody says or does because I understand its intrinsic value which will be more clear in the coming years even after this volatile stage, whether it be bitcoin, another crypto or a different use of block chain technology, for which email was more or less the precursor.
@ragingmonk6080
@ragingmonk6080 6 жыл бұрын
"Bitcoin Is Worthless" I disagree because it scammed people into giving AMD and Nvidia a lot of money and the electric companies enjoyed the profit margin as well.
@hankdaniels7384
@hankdaniels7384 6 жыл бұрын
Raging Monk glad I fell for that scam. I’ve spent a bunch on their video cards. They’ve all paid for themselves a few times over now. And even all the power bills along the way. I even took some nice profits out in December. But still holding more than I’ve sold. We’ll see if these three sages are on the right side of history this time. But I doubt they’ll be effected either way. LOL
@renzovanmontfort3465
@renzovanmontfort3465 3 жыл бұрын
Bruuh your saying a 2 billion dollar investor is wrong bye
@ragingmonk6080
@ragingmonk6080 3 жыл бұрын
@@renzovanmontfort3465 Warren Buffet has openly admitted things he has been dead wrong on. You say "bye", I say good riddance.
@wujujuju5111
@wujujuju5111 2 жыл бұрын
this comment aged like milk and in 10 years it will have aged like a raw egg in a stuffy attic
@stonk1851
@stonk1851 2 жыл бұрын
@@hankdaniels7384 you still mining? How's life?
@willardharper8038
@willardharper8038 2 жыл бұрын
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.
@omkartiwari1455
@omkartiwari1455 2 жыл бұрын
"Bill gates Shorts on btc" - Nov 21' Your position has been liquidated
@taijiangah
@taijiangah 6 жыл бұрын
2:18 Pretty sick burn to all the people thumbing down lol
@robbiekop7
@robbiekop7 4 жыл бұрын
If it does ( it won t) the government will take 90% of it in tax 😃😂😄
@awesomedavid2012
@awesomedavid2012 4 жыл бұрын
@@gigachad-jh1dh I'll remember this comment
@gigachad-jh1dh
@gigachad-jh1dh 4 жыл бұрын
awesomedavid2012 np i gotchu
@dsagent
@dsagent 3 жыл бұрын
It is back to 19K
@talentekhuzwayo2705
@talentekhuzwayo2705 3 жыл бұрын
@@dsagent where they at now
@seanrojas
@seanrojas 5 жыл бұрын
2:20 this point probably went over so many people's heads in the comments below.
@Mwxtkxns261
@Mwxtkxns261 4 жыл бұрын
These guys want bitcoin to be worthless when we go cashless so that society can't create an underground economy. the more bitcoin is worth the larger the scope of this underground economy!
@aaronsun4746
@aaronsun4746 3 жыл бұрын
He made a great point lol. Why are bitcoin users all over youtube down voting videos who are negative aginst it if its the greatest investment in the world,
@diedertspijkerboer
@diedertspijkerboer 5 жыл бұрын
Bit coins are a bit like antiques, except you can't display them in your home.
@Solid_Snake88
@Solid_Snake88 3 жыл бұрын
Bill Gates explained it so well and Buffet closed it.
@JunkBondTrader
@JunkBondTrader 2 жыл бұрын
And they're both wrong lol.
@teamtoken
@teamtoken Жыл бұрын
@@JunkBondTrader how? Most Cryptos are now worthless. Bitcoin is the only thing I can see surviving
@tclinn2909
@tclinn2909 2 жыл бұрын
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.
@pomp4401
@pomp4401 Жыл бұрын
He didn’t value because he’s living in a developed country. Try living in 3-4th world country how decentralized asset and non-censored payment systems are so valuable.
@thepandaahbear9025
@thepandaahbear9025 4 жыл бұрын
The dislike ratio shows exactly that people get upset :)
@BITCOIlN
@BITCOIlN 4 жыл бұрын
@gaogle censors I was holding crypto as well but Litecoin since ~$2.5 but then sold it unfortunately, now I hold Bitcoin. I think many people in crypto have massive delusion and hopes of getting rich quick, I believe in Bitcoin & Monero as an alternative way of hiding your assets during a local crisis like in Venezuela, not sure about global crisis but I wouldn't trash Buffet or Gates saying otherwise because I think both things can be true, it's one big pump & dump because people make the reality and the reality is that most people treait it as pump & dump but there's definitely also potential for it being an safe asset but first we need pass the speculation phase that who knows how long it will be.
@exotik4123
@exotik4123 3 жыл бұрын
@@BITCOIlN let the fools hold their worthless paper that has always been losing its value and lose everything in the future
@tensevo
@tensevo 6 жыл бұрын
Bitcoin is a decentralized (partly centralized) payments network - It is analogous to investing in Visa or Mastercard payments network. The difference is you cannot invest in the Visa or Mastercard payments network - you can own their stock whilst with Bitcoin, there is no central company from whom you can buy stock. "Investing" in Bitcoin requires that a "greater fool" will pay you more in future than you paid today. In other words, Bitcoin is not an investment, but it is a good speculation - I would not short a dime. Remember the markets are not there to make everyone rich - trading is a zero sum game.
@gm7361
@gm7361 2 жыл бұрын
it would only be an investment if the blockchain were productive (i.e. smart contracts). So that service is paid with fees in that crypto coin. This is not the case, at least in the short-mid term.
@yunusemreyazc848
@yunusemreyazc848 2 жыл бұрын
@@gm7361 you are right. i think this is not the case right know beacuse smart contracts are also not providing value cryptocurrencies. I also think that when DAO's will being used it could change. I would love to hear your thoughts also.
@pussynakamoto3237
@pussynakamoto3237 3 жыл бұрын
I WANT BILL GATES GO PUBLIC SAYING THET HE SHORTED IT
@pussynakamoto3237
@pussynakamoto3237 3 жыл бұрын
@@dharmann8909 ive got 800
@GH-uo9fy
@GH-uo9fy 3 жыл бұрын
He'll go from billionaire to broke in no time doing that when he get squeezed.
@Advection357
@Advection357 6 жыл бұрын
Bitcoin is worth whatever worthiness people give it.
@waynedaugh3482
@waynedaugh3482 6 жыл бұрын
Advection kinda like our fiat currency system now
@drmodestoesq
@drmodestoesq 6 жыл бұрын
Ah...no. You need fiat to pay your taxes.
@appleindustry
@appleindustry 6 жыл бұрын
And you need Bitcoin to not pay taxes when the USD collapses and they start stealing bank accounts from people, including gold.
@Jeffrey_Gauntt
@Jeffrey_Gauntt 6 жыл бұрын
drmodestoesq you always have to convert to your country's currency to pay the govt of that particular country. You can't pay the U.S. government with pesos or Yen. Same as a Forex trader.
@drmodestoesq
@drmodestoesq 6 жыл бұрын
Exactly. And the fact that you need fiat currency to avoid the violence of the state gives fiat money value. Bitcoins ain't gonna keep you out of prison for non-payment of taxes. The value of fiat comes from an Ithaca twelve gauge shotgun pointed at your head. Can anyone say the same about Bitcoin?
@Shapmb
@Shapmb 6 жыл бұрын
Top holding by them include BoA, Wellsfargo and credit card companies. No wonder they might not like it.
@BITCOIlN
@BITCOIlN 4 жыл бұрын
They can also buy crypto during the bear, it's not like other idiots in crypto bought x coin and then is fighting with other idiots over the Internet which coin is better.
@billybillson9831
@billybillson9831 4 жыл бұрын
Or they just don't like it because they don't like it?
@R3tr0v1ru5
@R3tr0v1ru5 2 жыл бұрын
@Competition Sports 2021 They like gold and sitting on tonnes of cash though? Yeah, makes sense.
@diggernick8628
@diggernick8628 4 ай бұрын
In other words "we cannot manipulate bitcoin so you should stay away from it."
@Rishabh-Dev
@Rishabh-Dev 2 жыл бұрын
That's 500$ Billion right there.
@booneguy
@booneguy 5 жыл бұрын
I dislike intangible investments and that's why I like Charlie and Warren.
@Vengess1
@Vengess1 2 жыл бұрын
Looks like he was right about Bitcoin after all.
@Vengess1
@Vengess1 2 жыл бұрын
@Sim True but there is no "supporting" bitcoin speculator on record that predicted the value would fall wiping out 2 trillion in losses. Every speculator preached the value would escalate over $100k. Which goes to show even crypto is susceptible to market swings, a phenomenon once thought unlikely.
@Chevy4109
@Chevy4109 3 жыл бұрын
Those that disliked this video are the gamblers who owned bitcoins!
@Kaodusanya
@Kaodusanya 3 жыл бұрын
if you still do you literally can't have lost money unless you bought the top a few weeks ago.,
@Elongated_Muskrat
@Elongated_Muskrat 2 жыл бұрын
Old man yells at cloud, cloud yells back.
@jellyboy123
@jellyboy123 6 жыл бұрын
You can't teach an old dog new tricks . People who have long been used to doing things in a particular way will not abandon their habits.
@paradiselosing
@paradiselosing 5 жыл бұрын
Oof just looking at this 9 months later they are right
@GH-uo9fy
@GH-uo9fy 5 жыл бұрын
And a year later they're wrong.
@Kai2z
@Kai2z 3 жыл бұрын
@@GH-uo9fy still wrong
@stevenjay6300
@stevenjay6300 3 жыл бұрын
@@Kai2z still wrong untill 2021 Feb. With BlackRock investing???geese
@jakobpirc4624
@jakobpirc4624 3 жыл бұрын
You are an idiot
@Truced
@Truced 5 жыл бұрын
Bill knows whats up, he just didnt wanna make the other two look bad.
@jfowler885
@jfowler885 5 жыл бұрын
just some respect for the OGs but you can see it in his face.
@Shakespeare1612
@Shakespeare1612 5 жыл бұрын
@@jfowler885 I can detect some real neurological difficulties from Munger too. I'm no doctor but, watch closely at about 1:10. He is smacking his lips, and sucking his saliva, with a bit of "deceiver's delight".
@GH-uo9fy
@GH-uo9fy 5 жыл бұрын
You can see it the microexpression on his face at 1:30. This also contradicts his earlier statement "better than currency". Of course this interview was made during the mania phase, so it's obvious he wants to fud it so he can take position.
@Dk-pi1wd
@Dk-pi1wd 5 жыл бұрын
He stated the truth in that the technology is good but there are issues. Due to those issues he quite clearly stated for the world to see that he’d short it if he knew of an easy way. Those issues primarily revolve around the price volatility. There’s no way any sane person would transfer their savings into BTC or any other fiat crypto for an extended period of time as a $500k USD savings account can literally be cut in half via crypto in a matter of hours if not less. Every idiot on this vids comment section, or crypto vids in general are spouting that BTC will replace the USD or monetary debt policy..it will not. A stable coin might as they are “STABLE” and oh...backed by the god damn US dollar as opposed to pure speculation where rich foreign investors own vast amounts of the fiat crypto float and pump n dump it onto idiots who FOMO in at 80+ RSI levels. The blockchain tech idea has already been adopted but fiat crypto won’t ever be and someday I guarantee it’ll all come crashing down near early 15-16’ support.
@GH-uo9fy
@GH-uo9fy 5 жыл бұрын
@@Dk-pi1wd It is the fiat that isn't really stable, it maybe $500k usd on your account but the purchasing power of it gets diminished over time and god forbid it doesn't suffer hyperinflation or you'll be holding stacks of worthless paper. With bitcoin it is deflationary, there will be only 21 million forever and each coin is not free, it is mined through computational rigor which takes hardware power. Getting 1 means you have the confidence of 1 of 21 million forever and that's it, if you lose it then everyone's coins gets more valuable because it's scarcer. Unlike the fiat which the government can pump unlimited amount at no cost to them. There is really no such thing as "stable" money, as everything depends on supply and demand. Which bitcoin has advantage as it is guaranteed to be scarcer in the long term.
@suntzu6122
@suntzu6122 3 жыл бұрын
This aged well. Starting investment: 1,000$ : May 8, 2018 (date of this video) End date: 3/4/2021 Inflation adjusted : Yes. Total Return : 399.424% Annualized Return : 76.716% Ending Value $ : 4994.24 The irony of what Warren is saying (when looking at the USD, and not BTC) is not lost on me. Why are you getting so upset at our new money? You seem very upset guys. And Im sure all of you are wealthy and care about the numbers. These numbers dont lie boys.
@stonk1851
@stonk1851 2 жыл бұрын
Facts
@DoubleUProds
@DoubleUProds 2 жыл бұрын
I hope you get rich, no more rat race, so you can see how dumb the comment you posted is.
@stonk1851
@stonk1851 2 жыл бұрын
@@DoubleUProds explain how it is
@michaelopolski5759
@michaelopolski5759 2 жыл бұрын
Hey...you mind showing how much you paid in capital gains taxes LOL?
@danielsiemers1991
@danielsiemers1991 6 жыл бұрын
2:40 Min
@tylerdurden3347
@tylerdurden3347 3 жыл бұрын
I would absolutely *LOVE* to watch Bill Gates short BTC. Someone loan him a few million BTC to sell. See how fast Billy Boy is bankrupt!
@LesterRobinBPe
@LesterRobinBPe 3 жыл бұрын
as someone like Bill Gates who revolutionized technology, wtf is he thinking when he said this. i really think he should be the one who advocates this because of its transparency.
@laughfeedtv3866
@laughfeedtv3866 5 жыл бұрын
Comment is so funny... so what if they are old?? You're young poor and broke then? 😂😂..
@BITCOIlN
@BITCOIlN 4 жыл бұрын
@meninnavy Their children, not you.
@missionpupa
@missionpupa 4 жыл бұрын
@@OpiumBride On contraire, wisdom? If you ask Charlie or Buffet what bitcoin is, I guarantee you, they wouldnt be able to explain to you what it is. I dont know what wisdom you talk about, the wisest thing Warren has ever said is that he stays in his circle of competence and he doesnt invest things he doesnt understand, and Bitcoin is the epitome of that.
@GH-uo9fy
@GH-uo9fy 3 жыл бұрын
I'm now young and rich because I did the reverse of their advice. Stay poor sheeple.
@przyplyw
@przyplyw 3 жыл бұрын
@@missionpupa that was a polite way to say "I dont invest in bu..it" Buffet understands value, investments and speculation and I guarantee you he gathered all the information he needed about cryptocurrency (as he did all his life in all other technologies he didnt understand at first) to make up his mind about it but..... I wouldnt be surprised if he invested allready in companies that sell and implement blockchain technology because thats what you call an investment, you dont "invest" in anything when buying a bitcoin....
@missionpupa
@missionpupa 3 жыл бұрын
@@przyplyw He didn't gather sht lol, he literally said it himself, he doesn't understand bitcoin, this guy doesnt even try to research technology, it's not in his circle of competence, this is why he's rich, he stays in his lane and make solid decisions, he didn't become rich speculating in things he doesn't understand. Most people don't even understand bitcoin, more so a 90 year old man who is old fashioned and doesn't know how the internet works
@darkprince1988fm
@darkprince1988fm 3 жыл бұрын
i saw the prices in the screen and the time of the video and i cried :'(
@banksy1740
@banksy1740 2 жыл бұрын
Yes Says the guy who made his fortune selling liquid sugar to children. Coca-cola is very useful right?
@libertyinourlifetime2430
@libertyinourlifetime2430 3 жыл бұрын
lmao this aged well
@andio310
@andio310 3 жыл бұрын
love it!
@aaronruddell7448
@aaronruddell7448 3 жыл бұрын
@@youknowqwe The only ponzi scheme here is the fiat currencies.
@billybillson9831
@billybillson9831 3 жыл бұрын
@@aaronruddell7448 ok ill take all ur fiat then
@Mike-Snoducky
@Mike-Snoducky 2 жыл бұрын
It did age well, it’s right on target today, more than ever. There is even more hype (or delusions) today then when that video was produced.
@Carnutzjoe
@Carnutzjoe 6 жыл бұрын
As long as bitcoin as seen as a volatile speculative investment it won’t be accepted by most people as currency. It needs to stabilise with a steady constant exchange rate to other currencies. Then people will begin to accept it and use it for transactions. It’s all about how people perceive it. Right now it’s a gamble.
@drob9673
@drob9673 2 жыл бұрын
Well that didn't age well in 2021
@tars7706
@tars7706 2 жыл бұрын
how about in 2022? bitcoin is worth 20k and continues to downtrend
@tosanesoko726
@tosanesoko726 3 жыл бұрын
They clearly don't understand blockchain technology. Smart contracts platforms like Ethereum and Cardano will play a huge role in our future society.
@ShreeNation
@ShreeNation 3 жыл бұрын
It will, but they are not wrong. It's gambling if you put your hard earned money on such a speculative asset and can't handle risk like millionaires.
@hmm5170
@hmm5170 3 жыл бұрын
Dude are u really saying that bill gates, the founder of fcking microsoft one of the largest technology companies in the world does not understand blockchain technology......
@vishantvitorie7212
@vishantvitorie7212 3 жыл бұрын
Visa and MasterCard also played huge role in our society.. How much you will pay to use that tech?
@tednguyen8310
@tednguyen8310 2 жыл бұрын
they are worth billions...u are most likely worth nothing.....when a nothing speaks to billionaires like this its funny
@stonk1851
@stonk1851 2 жыл бұрын
@@tednguyen8310 who was right though, tell me, the guy who "knows nothing" or the doubters, BTC 20x'd since this video came out, it is very funny seeing a comment about a guy who also apparently knows nothing.
@borg386
@borg386 6 жыл бұрын
When I cash in my artificial bitcoin gold in for paper artificial gold All I see is gold!
@germanher7528
@germanher7528 5 жыл бұрын
And neither is real gold!
@kovy689
@kovy689 3 жыл бұрын
But one has real intrinsic value, and the other one doesn’t.
@stonk1851
@stonk1851 2 жыл бұрын
@@kovy689 how?
@FikiFirmansyah
@FikiFirmansyah 5 жыл бұрын
Truth been spoken.
@james-sk1si
@james-sk1si 5 жыл бұрын
what I'm not able to understand is, if this is used as a currency of exchange then it will have some value unlike gold right? Can some Bitcoin expert tell me. I'm a big fan of Buffet but I'm not able to understand this point.
@dhowto3005
@dhowto3005 4 жыл бұрын
Love it!
@diedertspijkerboer
@diedertspijkerboer 5 жыл бұрын
"It's one of the crazier speculative things." That statement is worth more than all the bit coins in the world.
@switchbranch8411
@switchbranch8411 3 жыл бұрын
60k now. Will Kilkenny end up closer to 200k end of the cycle
@K4lr0b
@K4lr0b 2 жыл бұрын
@KZfaqInsistInBanningPeople but many or most have an underlying production of something linked to the asset unlike bitcoin. You can't analize bitcoin at any level but only on especulation.
@K4lr0b
@K4lr0b 2 жыл бұрын
@KZfaqInsistInBanningPeople and when have I talked about currency investment or such? I don't believe in that cuz it doesn't have any value. Investing in companies is what I'm into.
@JunkBondTrader
@JunkBondTrader 2 жыл бұрын
@@K4lr0b you dont need a physical asset. Clearly, as crypto has dominated every currency, stock, bond, or commodity by far. First, forget bitcoin, cryptocurrency has moved way beyond that. BTC is a great store of value, but newer coins are built to be much more. They are much more. Speculation exists yes,but there is also tons of value already. How about taking banks and governments out of your finances? That alone is world changing. The technology, and the promise of blockchain, and the value it already delivers (instantaneous, virtually free system of sending money without limitations to any other user in the entire world, without any middlemen,) is what drives the price. That's what it can do already, and it still in infancy. Explain to me why it needs to be tangible? Give me a single reason. Intangible things benefit humanity too. Like... The internet? Also not tangible. And technically there are tangible aspects of crypto. The servers exist, the computers that solve the blocks. Why do we need to hold it? The fact its outperformed everything in the solar system by comically large margins for over a decade is pretty good evidence of that. The technology backs it cos the tech delivers. And companies? When you buy a coin, you essentially are buying into that project, which are essentially startup companies. It's the same thing. Each coin is tied to a company that develops that coin in a way that they think will be the best implementation of cryptocurrency. There are so many implications to the tech, that all these coins are parts of differing sub sectors and are all incredibly unique in how they function, or intend to function. Cryptocurrencies are actually a lot more than just a currency. It's everything a currency is, but much more. You should look into blockchain tech more, it's quite fascinating. There are thousands of projects, and a few hundred of those are run by some of the top tech minds in the world.
@tars7706
@tars7706 2 жыл бұрын
@@switchbranch8411 its 20k now, and will continue to downtrend
@pennywiser9607
@pennywiser9607 3 жыл бұрын
Something’s fishy if whatever people are selling me to protect me against cash has to be paid in cash?......
@bitcoinbanter8090
@bitcoinbanter8090 3 жыл бұрын
W•H•A•T•S•A•P•P•+
@BinanceUSD
@BinanceUSD 3 жыл бұрын
Bill Gates said he would short bitcoin when it was under 10k lol no longer a billionaire then.
@peppaworld6537
@peppaworld6537 6 жыл бұрын
Great song! 😜 very interesting video
@russiaisgay3698
@russiaisgay3698 3 жыл бұрын
The best stocks at the moment are the ones with no product
@yunusemreyazc848
@yunusemreyazc848 2 жыл бұрын
it doesn't change the fact that they provide a value and generating income.
@michaelopolski5759
@michaelopolski5759 2 жыл бұрын
Really?....Ford sells products, Apple sells Products, Pfizer sells products, What stock exchange are you looking at because you are way off.
@russiaisgay3698
@russiaisgay3698 2 жыл бұрын
@@michaelopolski5759 this was a year ago around the time game stop, AMC and virgin galactic sky rocketed. Called 2 out of 3
@Zaba_the_Dogling
@Zaba_the_Dogling 2 жыл бұрын
Munger summarizes it perfectly.
@vambo13257
@vambo13257 7 ай бұрын
for dummies
@eMPaNaH
@eMPaNaH 3 жыл бұрын
this dude also hates robinhood and gold.. he hates the market too
@olstar18
@olstar18 4 жыл бұрын
Tell the truth I don't see much difference between bitcoin and fiat currency.
@rockwithyou2006
@rockwithyou2006 3 жыл бұрын
there is, the former cannot be printed according to the whims and facies of the politicians.
@elixxur
@elixxur 5 жыл бұрын
Thanks for the FUD guys! BTC is back at 8k and I have gain 100% since re-entering at 3600.
@Ryan-sz3yi
@Ryan-sz3yi 5 жыл бұрын
elixxur you’re just waiting for the next bigger idiot to buy your BTC lol. Try using ur BTC as a currency now then. Go and buy some things with like what it is supposed to function as
@jamesog101
@jamesog101 5 жыл бұрын
@@Ryan-sz3yi you dont get it. BTC is an amazing invention digital cash that knows no boarders and needs no middle man like a bank or cc company. To Warren's point what does the USD or the EUR or the GBP produce? Its worthless just cash we all agree on.
@Ryan-sz3yi
@Ryan-sz3yi 5 жыл бұрын
jamesog101 at least it’s something we agree on, and how long did it took to accept it as a medium of currency? Centuries. You think something like Bitcoin (and all other self created “currencies”) can replace this medium so easily? Look at how much it fluctuates every month. Do you really believe you can use that to buy your regular goods and services? That’s why I want you to try. Use it as a currency like the purpose it is suppose to serve. Don’t just talk about the technology. Use it as a medium of exchange like what my paper money does.
@jamesog101
@jamesog101 5 жыл бұрын
@@Ryan-sz3yi I never said BTC was good for transaction in fact I cant see it being used as a currency anytime soon it's a great store of value given its track record. I'm more bullish on blockchain and more specifically XRP it works with banks and our existing financial system like SWIFT to make money (fiat currencies) move like information that's real value people dont realize BTC is old technology. I look at these things as digital assets rather than currency. A country like Venezuela could adopt BTC because of its liquidity though
@phaggott
@phaggott 5 жыл бұрын
@@jamesog101 Yes indeed and perhaps the good people of Venezuela will grasp the underlying principle of such an investment. In time they will invest in baseball cards,comics, corner the market on LaFerraris, they might even ascend to the lucrative business that Supreme reselling has come to be known as. Then we might see quite a powerful revival of their Economy
@MaxDamage1984
@MaxDamage1984 6 жыл бұрын
Don't let the Bitcon train hit you. Instead try to jump on board when it starts to slow down!
@Hyperpandas
@Hyperpandas 4 жыл бұрын
That's terrible advice. As an almost entirely speculative asset, the logic of buying low like you do with equities doesn't apply because bitcoin has no growing intrinsic value on which to expect future gains. If you buy bitcoin when its slowing down (or at all) you're effectively praying that it'll come back into fashion and there will be another craze... like Pokemon, but worse.
@stonk1851
@stonk1851 2 жыл бұрын
@@Hyperpandas he was still right tho
@TylersRapPromo
@TylersRapPromo Ай бұрын
0:37 richest laugh ever
@DDKeenan88
@DDKeenan88 4 жыл бұрын
Fast forward to 2020 and Bill’s baby Microsoft is accepting bitcoin as payment. Cool story guys!
@HK-ds2wp
@HK-ds2wp 3 жыл бұрын
They will even accept turds as payments if fools create demand for it.
@Mesozoic_mammal
@Mesozoic_mammal 2 жыл бұрын
You are aware that Bill Gates has very little to do with Microsoft anymore? Microsoft is one of his smaler holdings and he has no position in the company for more than a decade now.
@R3tr0v1ru5
@R3tr0v1ru5 2 жыл бұрын
@@HK-ds2wp Sounds like you missed out on big gains.
@geoffreykeating8172
@geoffreykeating8172 3 жыл бұрын
Great investor once said "Stick with what you know " 3 of smartest got this 100% wrong !
@wilhelmh9495
@wilhelmh9495 2 жыл бұрын
Arrested development narrator: “They did not”.
@tars7706
@tars7706 2 жыл бұрын
Bitcoin is going to continue collapsing.
@nosuchthing8
@nosuchthing8 5 жыл бұрын
Its collapsing now because it was never worth anything and isn't backed by anything. You might as well invest in rainbows in the sky.
@ZoeylaRose
@ZoeylaRose 5 жыл бұрын
I own 50 pretty rainbows allready :3
@danielf2018
@danielf2018 5 жыл бұрын
Why didn’t you mail your comment in? Why did you use a cheap, fast Protocol? 😂 Bitcoin has “collapsed” 4 times. Oddly enough every year since it’s creation it has had a higher low. Every year. Up 100000%. Mail them comments in or be a hypocrite
@charmander777
@charmander777 5 жыл бұрын
really...funny because i just bought something from microsoft online using bitcoin but i am not sure if they accept rainbows. can u explain how...
@raycervantes6829
@raycervantes6829 5 жыл бұрын
fiat money ring any bells? The Fed assumes just as mush as you do my friend
@elixxur
@elixxur 5 жыл бұрын
It's back up now, what was that?
@Simple5005
@Simple5005 4 жыл бұрын
Could someone please explain the animal spirit thing that was said?
@Amha375
@Amha375 3 жыл бұрын
"If I told you could fly and you told me that I was crazy, I would count on that I was crazy and you had wings"
@parkerb654
@parkerb654 3 жыл бұрын
Can you explain
@Mike_ICP
@Mike_ICP 3 жыл бұрын
Reminds me of USD in 2020
@belajar_menggambar
@belajar_menggambar 6 жыл бұрын
bill gates dan buffet became the richest man on earth on decade,, and we still think they are wrong??
@jaykay3811
@jaykay3811 5 жыл бұрын
No, only idiots think they are wrong. You can tell who they are because they are the inexperienced fools around here. Investment virgins in a sense.
@wliaputs
@wliaputs 5 жыл бұрын
betul
@missionpupa
@missionpupa 4 жыл бұрын
@@jaykay3811 Watch bill hold back and hesitate when he started talking about blockchain. He really just didnt want to stir the pot. Also, Im not sure if you remember when Bill Gates asked Warren to buy Microsoft shares and Warren didnt want to buy a single stock, the same guy who invested in Apple about 20 years late. You expect the same person to invest and understand bitcoin? You are delusional.
@GH-uo9fy
@GH-uo9fy 3 жыл бұрын
They know what is really going on, they want people to stay poor while keeping their wealth. They give this advice for the masses and not the classes. Remember this is a zero sum game, they are business men and not santa claus. If you had bought it when this video was uploaded you could have made 500% ROI with bitcoin reaching 15k.
@seyarhamidi6017
@seyarhamidi6017 3 жыл бұрын
@@jaykay3811 Who is the idiot now? :D
@hutonghustler5317
@hutonghustler5317 3 жыл бұрын
How’s the Bitcoin shorting work out for you?
@vishaltaker9101
@vishaltaker9101 3 жыл бұрын
How about now?
@stonk1851
@stonk1851 2 жыл бұрын
How bout now lol
@NuNuRokd
@NuNuRokd 4 жыл бұрын
There's no money to be made in coca cola anymore. They made it all.
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