Topic: Bitcoin: The smartest investment choice. - page 6. (Read 704 times)

Charlie munger is 99 years old, and his date of birth is written as 1st of January, which indicates because of the times he lived in, he was probably born a bit before that, so we can easily say that he is 100 years old. You do not really expect a 100 year old person to really understand about bitcoin do you? I mean he doesn't have to, we do not need to get confirmation from everyone. Let some people dislike bitcoin however they want, that's understandable and that's not a wrong thing. You can't have every single person o the world like bitcoin, some of them like Charlie would end up being a little against it and that's not unusual. When phones first started or cars first started, I am sure there were people who were against them too.

Without a doubt, it goes without saying that Bitcoin is the best choice for investment. Most investors understand Bitcoin when investing in crypto platforms. I am not saying that an investor invests only in Bitcoin but I mean that an investor invests 80 to 90% of the money they invest in Bitcoin and the remaining 10 to 20% they invest in other coins. Investing in bitcoins is safe and there is a chance to earn profit for a while but when investing in any other coin other than bitcoins the risk of money is high and there is considerable doubt about whether the money invested will be returned. You said investing in Bitcoin is a smart choice, I think all investors will agree with your comment.

No matter what you say about bitcoin, some people will continue to remain bitcoin critics. They do not want to accept the fact that bitcoin is an asset because it is not seen physically. They have forgotten that love, happiness and the likes are not also seen but real. Bitcoin is a coin, but digital and not seen but it is real, having a limited supply that will make it scarce. People are buying it, its adoption continues and its marketcap and price continue to increase than decrease.

As much as loved your apt description about Munger, experience should still be a thing that we should consider when hearing them, you might say that you don't need to hear them but the point is to put what they're saying in consideration and still think for yourself. It's hubris like that the new generation is going to replace the old will be the new generation's downfall. As much as we want to hate on them for being against bitcoin, I still think that these authorities when it comes to investment should still be worth listening to.

We all know that good things in something, even bringing advanced and perfect changes, will not be able to lead everyone to like it or use it. There will definitely be those who laugh at it, belittle it or even deny it. In my opinion, this is a natural law and cannot be forced. Someone like Charlie Munger is one of them. Yes, it's his human right not to touch Bitcoin and say blah blah blah.

Investment is about confidence and knowledge, and I consider that those who enter Bitcoin are people who are confident and knowledgeable.

"We can't force someone's will to like the things we like, so let it be and enjoy it with people who agree with you, namely your community and beliefs."

Bitcoin will continue to grow with things like this, belittled, cursed and denigrated by the elite.

Cheers.

Just like other thoughts regarding on this situation maybe they just don't really know the real case about bitcoin and some misinterpret it as tool for scamming that's why other think about that its so risky to invest on Bitcoin because they might lose their money for unwanted scamming events. To many cases like that and maybe this is what came up to the mind of people who accidentally see the word bitcoin for the first time. Same as you I feel that before but when the time I use and explore bitcoin and crypto I really find it life changing and have different approach regarding to other investments. Yeah its risky but there are ways to minimize the risk and this should be learn by other so that they can see the real purpose and how useful it is if they adopt and use crypto on their everyday life.

TL;DR
Whenever I see the names of Charlie Munger and Warren Buffett you'd like to argue with what they've said to prove that they're wrong. There's no need to prolong that, there's no need to argue with what they've said about Bitcoin because it's not just worth it and they'll never hear us out.
They are closed-minded and if ever they change their course and belief about Bitcoin, I won't be surprise if that happens because going with the bandwagon from these known names are normal.

Actually, those influencers seem to like to exaggerate their views, even though it makes no sense for the long term crypto market. Yes, maybe the short term volatility is so strong that there is no functioning financial market. But the story here is that they (previous generations) could only invest in things that were available at that time, but they were core to the economic industry, and it was not possible for them to succeed and become billionaires, meaning they are always right. People who don't understand bitcoin or have never even traded with it like to attack it, and there are also a bunch of conspiracies about whether they really don't hold bitcoins.

Munger is a walking corpse, it does not matter what people like him & Buffett think about bitcoin. They ere old school, legacy finance guys. What they’ve done their whole life has worked well for them. They will not embrace new tech before they die, which won’t be long. Bitcoin also takes a slice of the pie too so they will never actively support it. But yes of course bitcoin is a great investment, you don’t need them to tell you that.

Doesn't really matter what random people are saying about Bitcoin. Couple of years ago, such negative statements used hurt the market but not anymore. We are immune from negative publicity from random economic gurus.

But Bitcoin is not really the smartest investment to be honest. Yes, if you do not pay taxes, that is fine. But whoever pays taxes and wants to stand with the law, Bitcoin is not that lucrative as it was earlier, due to heavy taxes in many countries.

Bitcoin can beat every other asset in pre-tax return but not for post-tax return.

It’s our choice if we believe to those kind of people. I mean its helpful that we learn different persperctives regarding Bitcoin but it comes from closed minded people who refused to believe on what BTC can offer, we are not obliged to listen to them.
Absolutely, let's break it down in a more casual way!
Bitcoin is open to everyone and no  VIP passes are needed. You, me, anyone with internet can join the Bitcoin party. No banks, no paperwork, just you and your digital wallet. Thats maybe why they call it “stupid” It has risk yes, but everything has.

Recently, the vice chairman of Berkshire Hathaway and the business partner of Warren Buffett, Charlie Munger, made some controversial remarks about Bitcoin and cryptocurrency at Zoom's Zoomtopia 2023 conference. He called Bitcoin "the stupidest investment I ever saw", and said that most crypto investments will go to zero. He also said that despises Bitcoin's growth and that he would never buy or invest it.

In this thread, I will argue that Munger is wrong about Bitcoin and that it is actually the smartest investment choice one can make.

 First of all, it is decentralized and scarce. Starting from its scarcity, the fact that Bitcoin's supply is fixed is more than enough reason to understand that its value is way higher than fiat currency. It can preserve its purchasing power and protect its hodlers from inflation and currency devaluation, literally the number 1 thing against paper money.
   
Then its decentralization, which makes it possible for it to run on a network of computers around the world that verify transactions and secure the system. Absolutely no one controls or owns Bitcoin, not even its creator Satoshi Nakamoto, i.e., it can't even be controlled by the governments or private corporations.

Secondly, Bitcoin is inclusive and global. It can be accessed by anyone on the internet with a connection and a device, regardless of their location, geographical area, identity, or status. It also empowers people to have more control over their money and their future. It allows them to save, spend, receive, send, and donate money across borders without intermediaries or fees. It also allows them to participate in a global community of people who share a common vision of freedom, sovereignty, and innovation.

Thirdly, Bitcoin is innovative and adaptable. Now, the third important reason why Bitcoin is the smartest investment ever is that it is innovative and adaptable. It is not just a digital currency, but a programmable platform that allows various applications and use cases. For example, Bitcoin can also enable decentralized finance (DeFi), which is a system of peer-to-peer lending, trading, borrowing, and investing without arbitrators.

Bitcoin is also adaptable and resilient, as it can evolve and improve over time through consensus and innovation. For example, Bitcoin recently underwent a major advancement called Taproot, which improved its scalability, functionality, and privacy.

In conclusion, Bitcoin is a decentralized, scarce, innovative, adaptable, inclusive, and global. It is a superior form of money and a store of value. I can't even begin to emphasize how much of a revolution it is in the world. I hope this thread, has enlightened you and destroyed whatever doubt some of you, especially the newbies have about Bitcoin. Sure, it has its disadvantages, but what good thing doesn't? So, let's be like Satoshi Nakamoto and not like Charlie Munger.

Own a Bitcoin today, and start from somewhere no matter how small.