Do you agree with Berkshire Hathaway that Bitcoin is truly Disgusting, Detestable, Noxious Poison?

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Are we witnessing serious hostilities between old generation thinkers and this new generation and their innovative high tech ways of doing things?

Well, check this out. Recently, during Daily Journal's shareholder meeting, Berkshire Hathaway's vice chairman Charles Munger is usually involved so as to give his overview of economic issues. For this special Valentines day event, the 94yrs old right hand man of Warren Buffett took the opportunity to savage the world's number one cryptocurrency, Bitcoin which to many of us is the one true King.

As if this is not enough, Check this out "Berkshire Hathaway Wants Cops Unleashed on Bitcoin"
ahh... this guy needs to learn a lesson from Thailand. You don't insult the King without some serious repercussions.!

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Well, according to the article posted in Bitcoin news by C. Edward Kelso,

If it’s not a religious affair, it sure has that feel. The grand cardinal of retail finance, Charlie Munger, was plopped into a chair, and assembled hordes gathered to hear investment wisdom from the Oracle of Omaha’s saintly priest. To say Mr. Munger is a successful investor is to place too general praise on the man: arguably he is among the most bankable gurus of all time.

From Los Angeles, Mr. Munger came right out with it and in his own words asserted that:

“I never considered for one second having anything to do with [bitcoin], I detested it the minute it had been raised. The more popular it got, the more I hated it. It’s just disgusting that people have been taken in by this.”

Interestingly, in the over 2hrs interview, this old guy took time to defend banks like wells Fargo et al and suggested that

government regulators had gone far enough in efforts to get it to right past wrongs; indeed, Mr. Munger suggested regulators had done too much. Wells Fargo was accused of creating fake accounts to buttress numbers, adding automobile insurance charges to customers who didn’t ask, and monkeying with mortgage extensions.

However, when it came to Bitcoin, he asserted that;

“Our more relaxed approach is wrong”, he spat. “The right answer is to step on it hard. It’s the government’s job,” he urged, characterizing it as a “noxious poison.” He seemed to approve of alternative payment systems such as We Chat, the popular smartphone application based in China. But bitcoin, he said, was an affliction of “everyone [wanting] easy money,” and “[hoped] to God” the future generation doesn’t embrace it, as it is “totally asinine.”

Furthermore,

For seasoned investors such as Mr. Munger, bitcoin is too abstract. Its lack of fundamentals as Mr. Munger understands them – no corporate offices, no accountable board, no large regulatory apparatus, etc. – can only spell bitcoin’s doom.

Read up all from source here

Based on the above submissions by This old generation guru, is this not a proof that there is a gap between old and new? The old successful business gurus and the new generation thinkers like @ned & @dan? little wonder last week, chairman of the Commodity Futures Trading Commission (CFTC), Christopher Giancarlo during the Senate hearing in his own remarks asserted that;

“We owe it to this new generation to respect their enthusiasm for virtual currencies, with a thoughtful and balance response, and not a dismissive one,”

This very submission by Giancarlo deeply hurts haters of crypto like Mr. Munger et al who bluntly does not respect the enthusiasm of this innovative new generation of crypto lovers. Well, that is my own view. My question is, do you agree with Mr. Munger that "Bitcoin Is Disgusting, Detestable, Noxious Poison" and cops should be unleached on Bitcoin" and of course in extension all cryptocurrencies including our dear steem.
Send in your opinions in comment section below.

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