10-100 Hours to Digest the Theory Engineering and History Behind the Bitcoin (BTC)

Michael Saylor shared: “The safe assumption for an investor is that over the next hundred years the (fiat) currency is going to zero.” – Charlie Munger on Bitcoin.

Community Response:   Does Charlie Munger say crypto should be banned? What do you think about that? Are you a stock trader or crypto trader or both?

Complete story. He also said on Bitcoin “I hate it” “huge mistake to allow it in the first place” “China was smart to ban it” “Like a vernal disease”.

Charlie Munger from Berkshire Hathaway said that he is proud of not investing in cryptocurrency. He says it should be “banned” and likens crypto to a “venereal disease”. Munger said that “the communist Chinese were smarter than we were, they just banned it.”

Ah. A very Fox News approach to cherry-picking interviews. In the same interview, Munger declares cryptocurrency “beneath contempt”. Michael, how do you reconcile these two clips from him?

Like many intelligent investors, he understands the problem but is unaware that we have engineered a solution in the form of #bitcoin. It would take 10-100 hours to digest the theory, engineering, & history behind the bitcoin crypto-asset network & begin to trust it.

He is demonstrably was aware of bitcoin and he has rejected it.

He is aware of it, but doesn’t understand it and confuses bitcoin with thousands of other crypto projects & practices that are not solutions to the problem of inflation & suffer from a myriad of challenges & shortcomings. He hasn’t done the work because he didn’t see the need.

Inflation as illustrated below is the problem, and the world needs a solution. If economists & advisers are not going to embrace bitcoin, they must propose something better as an alternative. Criticism alone is not constructive and benefits no one.

Loving this back and forth. Once again I love watching Saylor Unleashed!

Well, that is selective quotation… Here’s another MUNGER SAYS HE IS ‘PROUD’ OF HAVING NOT INVESTED IN CRYPTOCURRENCY, SAYS IT SHOULD BE BANNED AND LIKENS IT TO A ‘VENEREAL DISEASE’.

Why are people juxtaposing BTC to what he said, he’s not talking about Bitcoin lol? BTC from a technical standpoint cannot be a world currency. The network alone cannot allow the volume of the underlying transactions lol. Read the BTC whitepaper people and be informed.

Blockchain is more traceable and auditable than paper fiat currency.

How old is this man? Does he understand bitcoin? I doubt that!

“Inflation is a very serious subject,” Berkshire Hathaway Vice Chairman & Daily Journal Chairman Charlie Munger says. “You can argue it’s the way democracies die.”

I’m new here and want to jump in, however, in my ignorance I somehow think that if Current currency is supported by printed paper or even more ethereal like electronic QE, how will cryptocurrency, be it Bitcoin or CBDC, be safer from this volatile world.

The history of fiat currency is only a few hundred years, and from the perspective of the history of fiat currency, it has been in additional issuance.  The total amount of Bitcoin is constant. Taking Bitcoin as a reference, the legal currency will return to zero!