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May 3 - Berkshire Hathaway Corpse Charlie Munger calls Bitcoin ‘disgusting'



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 2 weeks ago '07        #1
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yola  topics gone triple plat - Number 1 spot x45
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May 3 - Berkshire Hathaway Corpse Charlie Munger calls Bitcoin ‘disgusting'
 

 

Charlie Munger calls bitcoin ‘disgusting and contrary to the interests of civilization’

Berkshire Hathaway Vice Chairman Charlie Munger called bitcoin “disgusting and contrary to the interests of civilization.”

“I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth, nor do I like just shuffling out of your extra billions of billions of dollars to somebody who just invented a new financial product out of thin air,” he said.

The 97-year-old Munger has long criticized bitcoin for its extreme volatility and a lack of regulation.


Berkshire Hathaway Vice Chairman Charlie Munger’s disdain toward bitcoin has only intensified amid the digital a*set’s record run this year.

“Of course I hate the bitcoin success,” the 97-year-old Munger said during a Q&A session at Berkshire’s annual shareholder meeting Saturday. “I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth, nor do I like just shuffling out of your extra billions of billions of dollars to somebody who just invented a new financial product out of thin air.”

“I think I should say modestly that the whole damn development is disgusting and contrary to the interests of civilization,” said Munger, a legendary investor in his own right.

Warren Buffett, who avoided the initial question on bitcoin earlier, responded to Munger’s answer: “I’m alright on that one.”

The “Oracle of Omaha” said he didn’t want to comment directly on the digital token because he didn’t want to get grief from everyone who is long.

The world’s largest cryptocurrency enjoyed a head-turning rally this year, topping $60,000 apiece in April as involvement from Tesla to major Wall Street banks made bitcoin mainstream.

Tesla recently made a $1.5 billion bet on bitcoin and now accepts the digital currency as a method of payment for its cars.

Meanwhile, Goldman Sachs and Morgan Stanley are looking to offer their wealthy clients some exposure to bitcoin.

Bitcoin last traded above $57,000, up from about $30,000 at the start of 2021, according to Coin Metrics.

Munger has long criticized bitcoin for its extreme volatility and a lack of regulation. At the annual shareholders meeting for Daily Journal in February, Munger said bitcoin is too volatile to serve well as a medium of exchange.

“It’s really kind of an artificial substitute for gold. And since I never buy any gold, I never buy any bitcoin,” Munger said then. “Bitcoin reminds me of what Oscar Wilde said about fox hunting. He said it was the pursuit of the uneatable by the unspeakable,” he added.
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 2 weeks ago '07        #2
yola  topics gone triple plat - Number 1 spot x45 OP
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“I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth
capitalists are the worst liars

what criminal on this planet won't accept a dollar or a euro?
+25   

 2 weeks ago '17        #3
LostTenets  topics gone triple plat - Number 1 spot x46
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Its 3 in the mornin take yo old a*s to sleep
+8   

 2 weeks ago '15        #4
S U P R E M E 
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 LostTenets said
Its 3 in the mornin take yo old a*s to sleep
3rd time these geezers crying bout crypto this week.
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 2 weeks ago '08        #5
cohs  topics gone triple plat - Number 1 spot x4
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They don’t like ledgers. Eyes on what they do ruins things.
+8   

 2 weeks ago '18        #6
ChrisPartlowFro 
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This is the big hurdle with crypto. AML and FCPA concerns are huge.
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 2 weeks ago '18        #7
ChrisPartlowFro 
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 yola said
capitalists are the worst liars

what criminal on this planet won't accept a dollar or a euro?
A known criminal.
Ever heard of an SAR or OFAC list? Crypto skirts those....

Edit: not backing Charlie. Just answering you question

 2 weeks ago '17        #8
1Oh 
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fu*k his opinion. His old a*s probably has an a*sistant that helps him send emails.
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 2 weeks ago '16        #9
Negusis  topics gone triple plat - Number 1 spot x1
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 yola said
capitalists are the worst liars

what criminal on this planet won't accept a dollar or a euro?
Not only that, the # 1 currency of criminals is the U.S. Dollar.
+8   

 2 weeks ago '21        #10
MrDoubtfire 
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fu*k him. hope he passes away.

Bitcoin has more intrinsic value than the fiat currency he's caping for.

All these old a*s boomers can eat a d*ck. im so mad
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 2 weeks ago '16        #11
Negusis  topics gone triple plat - Number 1 spot x1
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 ChrisPartlowFro said
A known criminal.
Ever heard of an SAR or OFAC list? Crypto skirts those....

Edit: not backing Charlie. Just answering you question
SARS and OFAC doesn't block you from using US Dollars or Euros.

That only counts when you're doing actual transactions under your own name. It's not like drug dealers are using bank accounts with their own names.
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 2 weeks ago '18        #12
ChrisPartlowFro 
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 Negusis said
SARS and OFAC doesn't block you from using US Dollars or Euros.

That only counts when you're doing actual transactions under your own name. It's not like drug dealers are using bank accounts with their own names.
SARS are transaction dependent, literally doesn’t matter who you are. It’s about the activity.

Aren’t we talking about transactions and washing money? I thought that was clear.

 2 weeks ago '12        #13
TrillSwag  topics gone triple plat - Number 1 spot x1
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 yola said
capitalists are the worst liars

what criminal on this planet won't accept a dollar or a euro?
Be fair it’s hard to move fiat around without some type of red flags/tracing. Crypto is a blessing to criminals. Criminals used to literally bury cash because they had nowhere legit to put it. Now you just need a usb device


Last edited by TrillSwag; 05-03-2021 at 10:01 AM..
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 2 weeks ago '07        #14
yola  topics gone triple plat - Number 1 spot x45 OP
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 ChrisPartlowFro said
A known criminal.
Ever heard of an SAR or OFAC list? Crypto skirts those....
so does offshore banking, there's plenty of ways to skirt

crypto is not a pervasive element in organized crime, just like THC is not a pervasive element in mortality, it's all boogeyman tales

no criminal is going to turn down state-backed currency, they might not spend it the way they got it, but they won't turn it down
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 2 weeks ago '07        #15
yola  topics gone triple plat - Number 1 spot x45 OP
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 TrillSwag said
Be fair it’s hard to move fiat around without some type of red flags/tracing. Crypto is a blessing to criminals. Criminals used to literally bury cash because they had nowhere legit to put it. Now you just need a usb device
not true, these are conservative campfire tales

go to CoinBase and try to create an account with false credentials

read this book


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 2 weeks ago '12        #16
TrillSwag  topics gone triple plat - Number 1 spot x1
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 yola said
not true, these are conservative campfire tales

go to CoinBase and try to create an account with false credentials

read this book


Loool. You know you can buy crypto with cashier checks online? Zero KYC. What criminal would use a centralized exchange?
Financial crimes have been going on since money was a thing we know that. But you lying if you say crypto doesn’t make it 100 times easier.

Criminals used to send cash in the mail, smuggle it on flights etc to move dirty
money around. You can literally send it in seconds with crypto.


Last edited by TrillSwag; 05-03-2021 at 10:09 AM..
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 2 weeks ago '08        #17
cohs  topics gone triple plat - Number 1 spot x4
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 TrillSwag said
Loool. You know you can buy crypto with cashier checks online? Zero KYC.
That's sounds like a trail though.

 2 weeks ago '12        #18
TrillSwag  topics gone triple plat - Number 1 spot x1
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 cohs said
That's sounds like a trail though.
How is that a trail? Do you know what a cashier check is?
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 2 weeks ago '08        #19
cohs  topics gone triple plat - Number 1 spot x4
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 TrillSwag said
How is that a trail? Do you know what a cashier check is?
Wouldnt those funds be pulled from an account then deposited into an account?

 2 weeks ago '16        #20
Negusis  topics gone triple plat - Number 1 spot x1
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 ChrisPartlowFro said
SARS are transaction dependent, literally doesn’t matter who you are. It’s about the activity.

Aren’t we talking about transactions and washing money? I thought that was clear.
Yes, but my point is these dudes aren't gonna use their real names. So, it's pointless whether they're on the SAR/OFAC or not.

 2 weeks ago '12        #21
TrillSwag  topics gone triple plat - Number 1 spot x1
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 cohs said
Wouldnt those funds be pulled from an account then deposited into an account?
No you can go to grocery stores, post office, and check cashing places to get it. You give them cash and they literally print you a check. No ID check or anything. Your name or info is not tied to it at all. You can then mail it in and swap for crypto on a decentralized exchange. If you want to go the extra mile you can use a VPN as well and trade the bitcoin you got for Monero which is completely untraceable.
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 2 weeks ago '08        #22
cohs  topics gone triple plat - Number 1 spot x4
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 TrillSwag said
No you can go to grocery stores, post office, and check cashing places to get it. You give them cash and they literally print you a check. No ID check or anything. Your name or info is not tied to it at all. You can then mail it in and swap for crypto on a decentralized exchange. If you want to go the extra mile you can use a VPN as well and trade the bitcoin you got for Monero which is completely untraceable.
Money order? If you really moving money that's tedious, but if it works it works.


Last edited by cohs; 05-03-2021 at 10:23 AM..

 2 weeks ago '07        #23
Damagegadget  topics gone triple plat - Number 1 spot x1
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Like central banks and fiat isn’t extortion lol... literally saying controlling money isn’t extorting it lol
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 2 weeks ago '12        #24
TrillSwag  topics gone triple plat - Number 1 spot x1
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 cohs said
Money order?
Yeah . Cashier checks are from the bank that leave a trail. Money orders from the stores that don’t. I commonly mistaken the names. Since their relatively the same thing
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 2 weeks ago '08        #25
cohs  topics gone triple plat - Number 1 spot x4
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 TrillSwag said
Yeah . Cashier checks are from the bank that leave a trail. Money orders from the stores that don’t. I commonly mistaken the names. Since their relatively the same thing
1k limit on those money orders though.
+1   



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