Munger Massacres "Scumbag, Immoral" Bitcoin Traders, Gates "Would Short It" If He Could

Following the weekend's Buffett and Munger bitcoin-bashing ("Someone else is trading turds and you decide I can't be left out"), the 181-year-old pair were joined by Bill Gates in a lengthy CNBC interview this morning... and Munger went rogue once again on cryptos...

"Bitcoin is worthless artificial gold which if it succeeded would facilitate a lot of illicit actvitiy."

"That is not something that the world needs."

"The fact that is clever computer science does not mean it should be widely used and that respectable people should encourage other people to speculate on it."

"Bitcoin reminds me of Oscar Wilde's definition of fox-hunting: the pursuit of the un-eatable by the un-speakable," which confused the anchor and so Munger summarized...

"I think [bitcoin] is a scumball activity."

Bill Gates then added that he was given some for a birthday and decided a few years later to sell it. He does not own any Bitcoin now.

"There's some really good technology such as sharing databases and verifying transactions, but Bitoin and ICOs, I agree [with Munger] completely - it's one of the crazier speculative things... because as an asset class you're not producing anything... you shouldn't expect it to go up...

It's a pure greater fool theory type investment and I would short it if there was an easy way to do it."

Munger: Bitcoin is worthless artificial gold from CNBC.

However, Munger was not done in his counter-crypto rant, as he told Yahoo Finance that bitcoin is a "combination of dementia and immorality." (Some argued, he would know). Munger then went to savage bitcoin further...

“The computer science behind bitcoin is a great triumph of the human mind,” Munger started. “They created a product that’s hard to create more of but not impossible. [But] I see an artificial speculative medium,” he said, in which people can sell it to someone else at a higher value with no intrinsic value behind it. It’s “anti-social, stupid and immoral,” he said.

“Immoral?” asked the interviewer.

“Suppose you could make a lot of money trading freshly harvested baby brains. Would you do it?” Munger asked.

“To me bitcoin is almost as bad.”

And finally Munger concluded...

“I regard the whole thing as a combination of dementia and immorality. I think the people pushing it are a disgrace. There ought to be some things that are beneath you, that you just don’t do, and this is one.”

But Charlie... how do you really feel about crypto?

Comments

Linus2011 BaBaBouy Mon, 05/07/2018 - 12:30 Permalink

PEDOGATE supposed jokes right out in the open. They seem to know more. Should be questioned by the FBI asap while all of their assets are frozen. He will rat a few of his dearest satanist friends for sure. Looks like he might want to.

Hang them all!

In reply to by BaBaBouy

Buckaroo Banzai chumbawamba Mon, 05/07/2018 - 13:27 Permalink

Hilarious to see these doddering old pederasts comparing Bitcoin to gold. Ever since Warren Buffet got spanked by the Jews for dabbling in the physical silver market in the late 90s--and singlehandedly causing a major move up in the silver price when the market figured out he was a player-- he has had nothing but hate for precious metals for two decades straight.

Frankly I cannot imagine a more ringing endorsement for Bitcoin than hearing these dessicated shitbags badmouthing it.

In reply to by chumbawamba

HRH of Aquitaine 2.0 Yogizuna Mon, 05/07/2018 - 18:17 Permalink

Oh I understand generational change. I am currently reading "The Fourth Turning" (which to anyone that has read it would make some of the language I used, obvious except for the word boomerpoop which came from a book I read last year that was fiction).

There is a point where the experience and knowledge that was formerly sound is unsound, for a number of reasons, which include corruption along with the lack of a rule of law. Wealth, like power, does not make something right, or to use precisely moral language, good.

As a Nomad and part of the 13th generation, commonly know as Gen X, I am one of the people that is going to be stuck, here in middle age, cleaning up the mess that these fucks are going to leave behind. I have assholes like these two that are completely out of touch with reality and younger millenials that have been spoiled rotten and are out of touch for other reasons. I don't want to be a hero. I don't want to tell people what to do, but I can see that coming, like a slow-motion trainwreck that you know is going to derail in front of you.

This is not how I wanted to spend my middle life. We don't get to choose our parents nor do we get to choose the generation into which we are born. It is left to fate, God, or the gods and we must do the best we can with the short time we are given.

In reply to by Yogizuna

mkkby NugginFuts Mon, 05/07/2018 - 17:01 Permalink

Paper gold, paper fiat -- bad.  Bitcoin -- good?  WTF is WRONG with people?

Shitcoin pumpers are beyond retarded.  They understand paper printed assets are bad, but electronic printed digits are somehow different.  There are about 10k cryptos out there now.   Everybody with a pulse is creating new ones every week.

Holy shit, you guys are stupid

In reply to by NugginFuts

r0mulus King of Ruperts Land Mon, 05/07/2018 - 19:13 Permalink

Munger proves he is a fucking dinosaur here.

Whats immoral about trading bitcoin? That you might own something the gov can't devalue without your consent? GTFO and over to the senior home, Munger.

Gates on the other hand either shows how dumb and short-sighted he has now become, or how beholden to the fed propagandists he has become.

Good riddance to both of em. They made their contribution to the future (now the past) and are no longer needed.

In reply to by King of Ruperts Land

Exponere Mendaces Bitchface-KILLAH Mon, 05/07/2018 - 14:59 Permalink

You sound like a fucking cultist pumping the holy word of < whoever >.

Software evolves, faggot.

And your shitfork, which copied that code, doesn't even have enough developers behind it to implement beneficial tech like Segwit or Lightning. You're a fucking wooden wheel on an oxcart, while Bitcoin is a magically upgrading electric car zooming by your stupid ass on the highway.

You've lost, and will continue to lose. Because you don't have the best developers, the most powerful hashing network, or the massive groundswell of support from users all over the world.

Go suck Ver's cock -- because that's all you're good for.

 

In reply to by Bitchface-KILLAH

Exponere Mendaces Bitchface-KILLAH Mon, 05/07/2018 - 15:14 Permalink

Bitcoin is ahead of BCash -- your shitfork copied the same code, yet you lag behind.

You don't have SegWit, Lightning, or even the proposed anonymity features being worked on now.

Because your monkey boy leader has pissed everyone off with his "Muh BCash" bullshit, and even Novogratz knows he's full of shiit.

Your radioactive bullshit stream is making your altfork a stillborn project, and the transaction rates show your flat-line progress -- http://fork.lol/tx/txs

So keep on sucking that Ver-cock, but it won't make you the king.

In reply to by Bitchface-KILLAH