Replies to post #193628 on DD Support Board and Research Team

[bar1080]

Slow news day I guess. Charlie dwelt on that at BRK's May SHM:

This isn’t a new stance for the 97-year-old vice chairman of Berkshire Hathaway. In May, during a Q&A session at Berkshire’s annual shareholder meeting, Munger said that his dislike for bitcoin increased amid the Covid-19 pandemic.

I was shocked to see that old story prominent on Yahoo Finance today.

[Kool Aid Man]

Cryptocurrency aka "Greater Fool Theory of Investing"

https://www.investopedia.com/terms/g/greaterfooltheory.asp

It all depends on there being an endless supply of fools who value a coin more than the guy who currently owns it. Like Ponzi or pyramid schemes the math eventually dooms it.