Warren Buffett’s right-hand man and the vice chairman of Berkshire Hathaway, Charlie Munger, has urged the U.S. government to ban cryptocurrencies like China has done. “A cryptocurrency is not a currency, not a commodity, and not a security. Instead, it’s a gambling contract with a nearly 100% edge for the house,” he stressed.Berkshire Hathaway Vice Chairman Charlie Munger has urged the U.S.
A cryptocurrency is not a currency, not a commodity, and not a security. Instead, it’s a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states that compete in laxity. “Obviously the U.S. should now enact a new federal law that prevents this from happening,” Munger stressed.
The Berkshire vice chair proceeded to reference two precedents that may provide insight into how to ban cryptocurrency effectively. The first is China’s crypto ban, he said, adding that the Chinese government “wisely concluded that they [cryptocurrencies] would provide more harm than benefit.” The second is that from the 1700s, England faced a severe depression after a speculative trading scheme failed. In response, the country banned public trading in new common stocks for 100 years, Munger explained. During that time, “England made by far the biggest national contribution to the march of civilization as it led strongly in both the Enlightenment and the Industrial Revolution and, to boot, spawned off a promising little country called the United States,” he opined.What should the U.S.
So it's probably a fairly good idea to buy it.
The stand is anti technology & anti progress. Education & Regulation to protect investors is the feasible & pro development option.
So Old he probably carries a Change Purse
Similar like in UK old people voted for brexit 😎
Them old farts don’t understand or they do and they’re scared
This means we are close
We don't want the working class to get out of line, do we Charlie? Crypto is their greatest opportunity. If they make money, who will be around to serve you.
Dick
Sorry.. not going to line your pockets anymore..
I bet he bought $BTC as he said this.
🤡🤡
The lizard has spoken 😂😂
Us gov should ban 99 years old bummers talking about finance.
..also ban internet, thinking, free speech and f***ing math, nothing makes sense anymore...🥸🤡
Why does any even do articles and write what this old man munger says He is old and doesn’t understand crypto. He I’ll be dead within 5-10 years anyway !
Boo Charlie
old mind😬😬😬
Why won’t this guy shit up.
Who cares?
'you will respect my authoritah'
Who’s gonna listen to this geriatric fart 💨
This guy is 100 years old or something...
Future can’t be banned just so you know ❌
What happened to his eyes? One is much larger than the other.
Rip
Old man this ain't your era.
So his business and investments will grow. Crypto is hitting him and will be hitting him more.😅😅
😂😂
Why would they want a free-market currency banned? Perhaps they too old school and have been caught napping 😏
Why would he do that? To protect all citizens from scam, or? 🤔
When some corrupt filth like him says ban bitcoin then I know we are onto something. They are running scared...
Gow many times this old man say it?🤣
He should be retires, playing with grand kinds...what's wrong will.of those old grumpy guys...Rothschild, Soros, Munger
At one point we used to only ride horses too, but then cars were introduced and soon self driving cars is the norm. You can’t stop innovation and cryptocurrency is the next big thing.
Don't see how it will stop people from buying it
Bad idea .... governments should focus on their bad decisions...
He looks like he lost its mind.. ooh he did.. sir your legacy is assured, don’t try bitcoin, every 10 minutes a block will be mined no matter what you say..
The face of fear
Charlie,Charlie…you are still among us⁉️
He’s not right hand man. He’s right testical of Warren. Old fart
Yeah, it’s called communism
He is just so angry inside that it was not about when he was younger and is now too old to understand and invest in the the future ! Caveman Attitude ?
how about banning billionaires instead
They just too afraid about crypto
Looks like he missed the train
ReefArmy $REEF is about to blow! Reef_Chain
He must have been deeply briefed on it (same as Dimon) but it works best for them to talk FUD as a way to mitigate the threat. The fact they and so many others talk Bitcoin at every opportunity is bullish imo
bitcoin solves this.....paris
Let them Try
Migration.... FEG SmartDefi 2.0 Rug Proof Asset backed Rising baseline FTW Aggregator lifeisdefi cz_binance elonmusk BNBCHAIN Bitcoin DeFiRadio TrueDefi
Dinosaur
He can still go to chine and join in 😉
Charlie should focus on celebrating his 100 birthday party 🎉 not Bitcoin
he should go back to silence of the lambs
Why can’t this guy just retire and enjoy his last few days
Ok, if cryptos cannot be considered money, or something like that, why should we consider the dollar a valid currency? just because someone says that the dollar is money and cryptos aren't?
Who you think you are to order sovereign government what they should or shouldn't do Or euuh are you what so called deep state sir?
Yes he is right. Not. Those Methusalems are still ruling financial world? Lol 😂
Human nature always afraid of what he dont know about 🤪
Shouldn’t he and WB be crapping their diapers and watching old black & white movies in a rest home by now?
Do you dream of becoming financially independent but struggle every day just to pay your bills. My name is NaomiDean001 and there's no secret to wealth creation. No matter who you are or where you come from you too can become financially independent in just a matter of months
👀
Can’t teach an old dog new tricks
The guy can’t even power a laptop on surreeee go ahead take his advice on new tech lol
He obviously missed the bottom!
A hole 🫗
Are you seeing what I'm seeing elonmusk
Wkwkw lol
Poor guy should know by now it’s to late and he didn’t make his boss any money on it Professional money manager missed the boat on btc a not so new digital capital asset class for the whole planet
There are not enough democrats in congress to turn the US into China to fulfill this sick pipe dream... thank God bitcoin
🤔🙈🙉
If Charlie Munger had any sense he would have stopped speaking publicly decades ago.
C Mungers comments seems to lack detail about why crptos are bad. This comment suggests to me that C Munger fails to understand that most well run cryptos are decentralised. 'Instead, it’s a gambling contract with a nearly 100% edge for the house,”
Garry came to him and he told that he would do a favor for his country if he call for ban on crypto :) also protects they gold investments, caring for money till the last end ;D I wonder can he bribe in the gatekeeper to heaven
🤮🤮🤮
bitcoin Que alguien le cambié el pañal a este viejito
And then his grandchildren will inhérent his wealth and go buy crypto. Just saying!
Munger and Buffet have always stuck to buying things that are of low value and selling when people are paying to much. Why is it now such an interest/concern that Munger wants to denounce crypto? Why should he care if people do or don't invest in crypto?
If he will become president then sure cryoto will ban 😂😂😂😂😂
He's like 100
Now that market is just recovering manipulators has started crushing it again...
Thanks a lot Mrs Candice. My trading journey has been a rollercoaster and this is certainly high point of my life. Made my whole yearly wage in 3 months of being in your group trading. I recommend y'all to follow Candicestewartt for trading tips & guide to invest and earn more.
Munger's a reanimated puss puppet that should shut up and fade away.
Este viejo no sabe ni usar IPhone y esta alegando.
Is his left-hand man younger?
This is because he did not buy at low price 🙄🤣😝😝😝😝😝😝
Is he still alive
If he is so sure it's not legit or worth anything then he should be fine just leaving it alone. Why does he feel the need to have it banned if it's not legit?
When did this man pass away? He looks dead?
Old Man🚮
'They cursed us. Murderer they called us. They cursed us, and drove us away. And we wept, Precious, we wept to be so alone.' - Gollum
A new truth does not triumph by convincing its opponents and making them see the light, but rather because its opponents eventually die, and a new generation grows up that is familiar with it. -Max Planck, on Bitcoin
He looks very unwell
this one madala exactly when is he resting in peace ?!!!
he calls cryptocurrency like a gamble does he not fully understand cryptocurrency 😂
That's fine. If they ban crypto then any nation that embraces it will become a haven of wealth. Just like corporate tax, people will go where it's lowest.
What's wrong with his left eye?
BigEyesCoin binance 😻BIG EYES 😻 Hey, hey, hey Why are you still spectating❓ People are making it huge with a 200% bonus from BigEyes!
Charlie Munter is an irrelevant old dinosaur 😂
Sorry elders stifle innovation Bitcoin
One word, Pathetic
Give grandpa some tea, then put him to bed...
He wants you to give him your money to manage that’s why, he doesn’t want you to invest something once in a lifetime and be rich without him
बुढे हो गये तो भी दुसरे का भला नही सोच रहे ....लगता हे सारे के सारे पैसे उपर लेके जानेवाले हे...
😂
禁止比特币，就好比让美国政府禁止人民的自由一样。很恶心。芒格背后在支持最肮脏的银行，这里又在说禁止加密货币。恶心
Old bones will always stand strong, until corruption withers them down and tumble everything it’s holding, and new bones will always remain better because it’s always improving!
This old fool might as well be fertilizer , I wonder if I could mine me some bitcoin with his fossil ass 😂
Heavily invested in banks, of course he hates Crypto
Problem sis&bros is not to be old. Get this he knows there isn't a way to stop crypto. By the way...I am 61...
Why, u want people 2 keep being slaves?
Dang kids these days, with their internets and googles
Ugly 🐷
He needs to sit on the porch and just rock back and forth.
It’s time for Charlie to drop dead .
I wonder if he wishes the US Gov would ban free speech like China too, or does he only want to repress people financially?
Is like a dinosaur watching the asteroid getting closer
Hell no
Old man
INSANE old Man
Bring his coffin ASAP
Ok great, I only listen to ChiefraFba for signals and analysis!..I have a 92% win rate in 3 months of copying his signals!
Using Chiefrafba for signals and analysis I have a 92% win rate in 2 months
Old 🤡🤡🤡
Nice one, I also listen to ChiefraFba for signals and analysis!..I have a 93% win rate in 3 months of copying his signals!
Amazing stuff, I only use ChiefraFba for signals and analysis.. 92% win rate in 2 months of copying his signals!
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CoinDesk - 🏆 291. / 63 Read more »
Source: Cointelegraph - 🏆 562. / 51 Read more »
Source: TheBlock__ - 🏆 464. / 53 Read more »
Source: nypost - 🏆 91. / 67 Read more »
Source: Crypto_Potato - 🏆 568. / 51 Read more »