Warren Buffet and Charlie Munger Continue their Insults Against Bitcoin

Today In Cryptocurrency Buffett And Gates Slam Bitcoin Regulators Meet To Discuss Classification

All Gates, Buffett, and Munger need now is for Jeff Bezos (value US$132.2 billion) to join in the anti-bitcoin fray and the cryptocurrency will be back down to three-figure levels again in no time.

Despite his negative opinions about bitcoin, Gates did admit that blockchain technology had its merit.

The Microsoft founder considers digital currencies to be too risky for long-term commitments for private investors as well as for institutional ones.

Bitcoin was trading around the $10,000 mark, only to sharply fall around $9,100 as of press time. What Buffett was saying about bitcoin was that you may purchase it, however it would by no means produce something of worth.

"It's buying something because you expect the pool of people who want to buy it because they want to sell it to somebody else, will grow".

On Monday, May 7, 2018, Bill Gates stopped by the squawk Box of CNBC with some strong words for digital currencies and those that believe it has the power to change the world.

Delta flight evacuated because of smoke in cabin
No injuries occurred due to smoke, but some passengers had minor injuries from the evacuation and were treated and released. The plane's 153 passengers were evacuated via emergency exits located on the wing.

He has previously said that cryptocurrencies "definitely will come to a bad ending".

Munger has additionally referred to bitcoin as poison.

Just one day after Berkshire Hathaway chairman and CEO Warren Buffett trashed bitcoin at the legendary firm's annual shareholders meeting in Omaha, Nebraska, vice chairman Charlie Munger unleashed a memorable rant of his own. He went on to advise investors to invest in the stock market rather than gambling with Bitcoins or any other cryptocurrency. He argued that trading or investing in cryptos is "just dementia".

He said oil has tangible worth, and it can be demonstrated easily - you can use it to run a vehicle, power cities, generate heat in the winter, and many more.

However, Europe's biggest bank by assets said this would likely be the only share buyback this year, as CEO John Flint looks to deploy more capital into its businesses to tap growth opportunities.

Warren Buffett believes trying to timing the industry is really a waste of time and hazardous to investment success.

Related News:

  • Trump heralds capture of five Islamic State commanders

    Trump heralds capture of five Islamic State commanders

    Abadi declared final victory last December over the ultra-hardline group, which overran a third of Iraq in 2014. Hashimi described Eithawi and Jamal as the two most senior Islamic State figures ever to be captured alive.
    Your Google Assistant has become smarter; find out its new skills

    Your Google Assistant has become smarter; find out its new skills

    Two other features that will make conversations with Google Assistant more natural are called Multiple Actions and Pretty Please . You can also switch the gender of Siri, Alexa and Cortana's voices by going into the settings for your personal assistant app.
    Cavs cruise, complete sweep of top-seeded Raptors

    Cavs cruise, complete sweep of top-seeded Raptors

    It raised significant questions about how they'd fare against the first-seed Raptors, especially without home-court advantage. James arrived at Quicken Loans Arena three hours before tip-off wearing a baseball cap that said: "Don't Trip". "We see them.
  • How and when to watch the Bangabandhu launch

    How and when to watch the Bangabandhu launch

    STP-2 has a number of objectives, including demonstrating the new rocket's capabilities and launching several satellites. Concept image of the spaceship portion of SpaceX's " Big Falcon Rocket ", or BFR, blasting off from the surface of Mars.
    Celtics players wanted Joel Embiid to 'man up' after all trash talking

    Celtics players wanted Joel Embiid to 'man up' after all trash talking

    If the Los Angeles Lakers' pick lands at #1 or at #6 to 30, the pick will go to Philly. "I felt like I had (a) lot more to go". Embiid's running mate, Simmons, weighed in after the disappointing loss and echoed a similar sentiment of his big man.
    Warriors Open as Favorites in Western Conference Finals

    Warriors Open as Favorites in Western Conference Finals

    The Rockets begin their Western Conference Finals series against the Warriors on Monday night at the Toyota Center in Houston . But we're not running around talking about, 'Man, we want them bad.' Nah, we want a championship bad.
  • Consumer Prices Rise Less Than Forecast as Autos Drop

    Consumer Prices Rise Less Than Forecast as Autos Drop

    Economists saw the slower increase in wholesale prices in April as a good sign that inflation is not getting out of control. Today's report continues a four-month trend of surging inflation, with the CPI-U index rising 1.62% over that period.
    New Suggestion For Men Suffering From Prostate Cancer

    New Suggestion For Men Suffering From Prostate Cancer

    The US Preventative Services Task Force understands that the recommendation is confusing for both medical providers and patients. Patients should consider their family history and medical conditions before agreeing to do a prostate screening.
    Primary election information available in mailed voter guide

    Primary election information available in mailed voter guide

    It wasn't that Tuesday's winners had rebuked Trump, it's just that the most overt Trump supporters were not necessarily rewarded. Yet Republicans on Wednesday were spinning the larger number of votes to support the argument their voters are more enthusiastic.
  • Life's a beach for Rory McIlroy as he aims for Players win

    Life's a beach for Rory McIlroy as he aims for Players win

    That's where I'm going to be focusing on over the next two days here. "All I wanted to do this year was give myself chances". Casey, who is ranked No. 1 in the Golfweek/Sagarin Pro Rankings, has finished T-26 or better in 23 of his last 26 starts.
    ZTE ceases 'major operations' following U.S.  ban after failure to reverse

    ZTE ceases 'major operations' following U.S. ban after failure to reverse

    Chinese mobile and networking firm ZTE has announced it is shutting down just weeks after being hit with a USA government ban. The ban will hurt the company's smartphone division immensely as it forbids it from using Qualcomm chips in their devices.
    AAA Michigan: Statewide average gas prices unchanged

    AAA Michigan: Statewide average gas prices unchanged

    If in the end crude oil remains at $68-$70/bbl, prices will not be that much more expensive this summer than they are now. DeHaan said if this did cause prices to go up, "it could be" long term depending on the long term response to Iran.


Most liked

Apple reportedly planning direct subscriptions for video services
The move, which is expected to debut next year, comes as Apple seeks to capitalize on services in an era of stagnant iPhone sales. If Apple were to push through with its plan, the TV app will become the ultimate hub for users to find and stream content.

Brad Stevens knows what's ahead of Celtics in LeBron James, Cavs
The only difference was, as good as Irving was offensively, James did not need him like Jordan needed Pippen. Bron thought and went 'I want that, ' and he's so damn good he can incorporate it into his own game.

RBS to pay another $5 billion to settle DOJ toxic mortgages probe
Ongoing litigation meant the bank had been unable to pay dividends to shareholders and prevented increases in its share price. But he stressed the decision on how and when to sell down the stake is "definitely in their (the Government's) hands".

Ghana and Nigeria to prevent spread of Ebola
Yakubu also noted that all the equipment and personnel used in fighting the virus in 2014 were still very much at the airports. Ebola is thought to be spread over long distances by fruit bats and is often transmitted to humans via contaminated bushmeat.

Google unveils AI which makes phone bookings for you
The new version will also suggest photo tweaks, making it easier than ever to produce stunning photos from your smartphone . Google is pitching the feature to developers as "a great way to reach new users and re-engage with existing users".

Disney boss: We might make more Avengers after Infinity War sequel
Ant-Man is also featured in those pictures as well, which has led to some speculation about alternate universes as well. Iron Man and Captain America had a bit of a falling-out in Captain America : Civil War , and haven't spoken since.

Vodafone splashes billions on European expansion
Deutsche Telekom , which is Europe's largest telecoms provider by revenue and owns T-Mobile, has strongly objected to the move. In Germany, where UPC has 7.2 million customers, Vodafone will be in a better position to compete against Deutsche Telekom.

In DHSE +2 Kerala 12th Result 2018 Declared Today AT 11 AM
Of the 1,97,633 girls appeared for the HSE exam, 178492 (90.31 percent) became eligible for higher studies. The Kerala Plus Two results are being declared five days earlier than it was declared past year .

Political quake in Malaysia as alliance breaks through with historic win
In January, Mahathir said that running was "a job I have to do", in an exclusive interview with CNN . However, the Perak and Kedah state assemblies are hung, with PH one seat short of a simple majority.

6 killed in Indonesian prison clash between militants, police
Police have said the incident was triggered by a trivial disagreement about a delay in an inmate getting food from his family. The world's most populous Muslim nation Indonesia has carried a lot of crackdown on militants since Bali bombing in 2002.

Time for President Donald Trump to take action against biased hostile media
These reporters tend to be more objective and are more interested in informing the public rather than shaping their opinion. During the presidential campaign, he would sometimes bar reporters for certain media outlets from his rallies .

Hezbollah's Nasrallah says Lebanon results are "victory" for the resistance
Two of the 10 seats there were won by its opponents, one going to the Lebanese Forces and the other to Future. Wary of voters' apathy toward a vote unlikely to change much, he urged people to turn out in large numbers.

Americans freed by North Korea are back home safely
The U.S.is seeking "complete, verifiable, irreversible denuclearization" as part of any deal. Warmbier died in June 2017, days after he arrived back in the USA with severe brain damage.

Scientists may have found the cure for baldness
The drug has been in use since the 1980s, however it often has severe side effects - including substantial unwanted hair growth. Dr Hawkshaw and colleagues carried out a full gene expression analysis of isolated human scalp hair follicles treated with CsA.

Cristiano Ronaldo Champions League final concerns eased following Clasico injury
Gerard Pique also took a dig at Real not giving them a guard of honour when he addressed the crowd. I wish him the best as a footballer and person.