Charlie Munger on Cryptocurrencies

Discussion in 'Crypto Assets' started by Frederick Foresight, Dec 5, 2023.

  1. long

    long

    He would buy low and sell high. You should google “Warren Buffet silver market”. He doesn’t always tell the public what he’s doing.
     
    #61     Dec 7, 2023
    semperfrosty likes this.
  2. deaddog

    deaddog

    So I did that and what I found is that his investment in silver had to do with th fact that it was undervalued and silver has significant industrial uses. BTC has no industial uses I'm aware of, and how could you tell it was undervalued?
    He eventually has to reveal what he is doing. (Form 13F)
     
    #62     Dec 8, 2023
  3. long

    long

    You kidding?
     
    #63     Dec 8, 2023
  4. Okay, I'll bite. What industrial uses does BTC have?
     
    #64     Dec 8, 2023
    deaddog likes this.
  5. Its not a physical thing ... it obvious doesn't have "industrial" uses
     
    #65     Dec 8, 2023
  6.  
    #66     Dec 8, 2023
  7. long

    long

    Bitcoin currently has no use other than storing wealth. I can’t figure out how it does that but I really don’t care. I currently think the cards are stacked for a stupid crazy up move so here I am. In other markets it try to avoid these forum discussions because I’m confident in my strategy and know a lot about the markets I trade. BTC is a mystery to me but there’s too much momentum behind to no try to participate. I hope all these crazy people are right!

     
    #67     Dec 8, 2023
    jbusse and semperfrosty like this.
  8. its like musk talking about buggy whips.
     
    #68     Dec 9, 2023
    semperfrosty likes this.
  9. Nice! Stealing that! haha:D
     
    #69     Dec 9, 2023
  10. It seemed obvious to me crypto was going to out-live Munger, despite his flawed assumptions and big speeches. Unfortunately, not only do I know it now, and you know it, and every bear knows it.... Munger can't possibly know it. He's dead!

    Either way, he was wrong, wrong, wrong. What a way to go.

    Buffett, you're next.
     
    #70     Dec 10, 2023