We are seeing these "fossils" back on their horses, ranting about Bitcoin. This shows a complete disconnect with what is going on. Sadly, we see a lot of people who do not grasp the technological concept of what is taking place today.
In this video I discuss how the path of the crypto-sphere is clear to be. This does not come from the financial perspective but, rather, the tie-in to technological trends.
▶️ 3Speak
Well all the old investment guys tend to think something very similar.
I don't think anything has changed but yea I think options tend to be gambling. If it doesn't move enough, you lose. If it goes the wrong direction, you lose a ton of money. But if it moves fast and quick, then you make a ton of money.
As for call options, I don't think its bad if it incentivizes the corporation to do well. There is no point in exercising an option that doesn't hit the target.
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Yeah from the company perspective and as incentive to employees and officers.
But to investors they are just speculating on a price move, either up or down.
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Like I said in Leo market talk: it's in the name, he's a monger and today he is fear mongering, tomorrow he might monger something else, nobody cares either way :P
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Sadly him and Buffett garner a lot of attention and people do listen to them. Why? I have no idea but they are continually put forth, or at least their views are.
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I really don't get why he would come out at 97 years old and try and trash bitcoin. He's old, but i cant believe he's stupid. Maybe BTC is a bit of a threat to his wealth, or maybe not. Maybe btc is just so different, and he's actually upset that it's possible to use another system that he's not familiar with to generate wealth. Like crypto investors aren't playing by his rules so he's mad.
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The technology is certainly beyond him.
I didnt know he was 97 though. I thought 93 or so. Either way, when it comes to tech, he is out of date.
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Can we be real here. Every time I see them flip sh*t about bitcoin it reminds me how close they are to losing control lol
Well that partnership is a little long in the tooth so I dont know how much longer they will hang on.
But yeah, there is so much going on that we are seeing rapid progress which cannot be stopped.
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For hating Bitcoin he sure speaks of it frequently. I think he’s trying to compensate for missing the trade. The world he once knew no longer exists.
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Summary:
In this video, Task discusses Charlie Munger's negative comments about Bitcoin and cryptocurrency. He points out Munger's lack of understanding of technology and its impact on the financial industry and society. Task emphasizes the importance of technological advancements like cryptocurrency, tokenization, and decentralized finance (DeFi) in shaping the future. He highlights the significance of data ownership and tokenization in the digital world, contrasting it with traditional financial systems. Task stresses the need to adapt to technological advancements, warning against ignoring the transformative potential of blockchain and digital assets.
Detailed Article:
Task delves into Charlie Munger's recent criticism of Bitcoin, addressing the lack of technological understanding among traditional financial experts like Munger and Warren Buffett. He criticizes Munger’s labeling of Bitcoin as "disgusting" and being created "out of thin air," pointing out the irony given the existence of complex financial instruments like derivatives and synthetic derivatives that they have engaged with in the past. Task acknowledges Buffett's historical aversion to derivatives but argues that both Buffett and Munger fail to recognize the transformative potential of cryptocurrencies like Bitcoin beyond just financial assets.
Task emphasizes the broader implications of technological advancements in the financial sector, particularly in the realm of decentralized finance (DeFi) and tokenization. He discusses how traditional financial tools like options trading also involve speculation and are not necessarily tied to the fundamentals of a company. Task draws attention to the evolving landscape of digital ownership, citing examples like tokenization in gaming, art, and music, demonstrating a paradigm shift in the definition of assets and ownership in the digital age.
Furthermore, Task elucidates the concept of data ownership and its increasing value in today's digital world. He emphasizes the significance of tokenization in allowing individuals to own and benefit from the data they generate, contrasting this vision with the current dominance of tech giants like Facebook, Google, and Amazon in monetizing user data. Task highlights the potential for blockchain technology and tokenization to democratize data ownership and reshape existing power dynamics in the digital economy.
In conclusion, Task stresses the importance of embracing technological progress and understanding the transformative potential of blockchain, cryptocurrency, and decentralized systems. He warns against dismissing these innovations as mere financial tools, urging viewers to recognize the broader societal implications and opportunities presented by the digital revolution. Task's insights underscore the need for individuals and institutions to adapt to the changing landscape of finance and data ownership in an increasingly digital world to stay ahead of the curve and leverage emerging technologies for a more inclusive and equitable future.