Warren Buffet and Charlie Munger on crypto in 2018
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Re: Warren Buffet and Charlie Munger on crypto in 2018
#2The Stadtler and Waldorf of high-finance.
Re: Warren Buffet and Charlie Munger on crypto in 2018
#3Too bad that what they are talking about is not crypto just regular tradfi ponzi schemers who happen to have chosen crypto for their next scam.
Re: Warren Buffet and Charlie Munger on crypto in 2018
#4No post body was provided.
Re: Warren Buffet and Charlie Munger on crypto in 2018
#5Regardless of how you feel about crypto - and I admit to seeing some valuable use-cases, while being highly skeptical of the speculation - you gotta admit that these comments are prescient and also very funny. I sincerely hope I have that presence of mind at that age.
Re: Warren Buffet and Charlie Munger on crypto in 2018
#6Regardless of how you feel about crypto - and I admit to seeing some valuable use-cases, while being highly skeptical of the speculation - you gotta admit that these comments are prescient and also very funny. I sincerely hope I have that presence of mind at that age.
But the valuable use-cases could be solved using other methods efficiently.
Re: Warren Buffet and Charlie Munger on crypto in 2018
#7I'm not sure that the statements that a) there are bad actors in the space, and b) there will be a crash, are particularly insightful here. Both of these were predicted/expected by many, including many crypto supporters.
The key question is whether crypto will rebound. I would expect it to, particularly as governments move more into digital currencies.
Re: Warren Buffet and Charlie Munger on crypto in 2018
#8No post body was provided.
Re: Warren Buffet and Charlie Munger on crypto in 2018
#9> There is nothing being produced of value from the assets.
A guy like Warren Buffet can clearly appreciate value in the sense of institutions, after all he made his fortune largely in the insurance sector.
We are still in the early stages of Crypto, only now we see serious DAO structures start to emerge.
There is also a good chance that he will see his entire industry disrupted in some years as more efficient ways to govern small-scale institutions, like an insurance company, are emerging.
Re: Warren Buffet and Charlie Munger on crypto in 2018
#10I'm not sure that the statements that a) there are bad actors in the space, and b) there will be a crash, are particularly insightful here. Both of these were predicted/expected by many, including many crypto supporters. The key question is whether crypto will rebound. I would expect it to, particularly as governments move more into digital currencies.
> The key question is whether crypto will rebound. I would expect it to, particularly as governments move more into digital currencies.
The “when” and the “what” matter immensely though.
A rebound after a couple years of global recession is much different than one early next year.
A rebound of the existing big names (e.g. BTC and ETH) is much different than the rise of “fed coin” or some other chain.
An investment strategy of dollar cost average, spray, and pray, is gonna eat quite a few losers.