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

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Munger Massacres "Scumbag, Immoral" Bitcoin Traders, Gates "Would Short It" If He Could Vide
PostSubject: Munger Massacres "Scumbag, Immoral" Bitcoin Traders, Gates "Would Short It" If He Could   Munger Massacres "Scumbag, Immoral" Bitcoin Traders, Gates "Would Short It" If He Could Icon_minitimeMon May 07, 2018 5:32 pm
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...

Munger Massacres "Scumbag, Immoral" Bitcoin Traders, Gates "Would Short It" If He Could 2018-05-07_6-23-17

   "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."

https://www.zerohedge.com/news/2018-05-07/munger-massacres-scumbag-immoral-bitcoin-traders-gates-would-short-it-if-he-could
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