{"id":17304,"date":"2023-02-05T18:38:37","date_gmt":"2023-02-05T18:38:37","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/charlie-munger-wants-the-u-s-to-ban-cryptocurrencies\/"},"modified":"2023-02-05T18:38:37","modified_gmt":"2023-02-05T18:38:37","slug":"charlie-munger-wants-the-u-s-to-ban-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/charlie-munger-wants-the-u-s-to-ban-cryptocurrencies\/","title":{"rendered":"Charlie Munger wants the U.S. to ban cryptocurrencies"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/02\/93352841_m-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/02\/93352841_m-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/02\/93352841_m-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/02\/93352841_m-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Charlie Munger reiterates his view on cryptocurrencies.<\/li>\n<li>He lauds China for executing a full ban on cryptocurrencies.<\/li>\n<li>Cryptocurrencies are having a fantastic start to the new year.<\/li>\n<\/ul>\n<p>U.S. government should push ahead with an absolute ban on cryptocurrencies, says Charlie Munger \u2013 the Vice Chairman of Berkshire Hathaway.<\/p>\n<h2>Munger says cryptocurrencies have no real value<\/h2>\n<p>Munger has been against cryptocurrencies for the longest time and associates no real value to these assets as they are intangible and unproductive. Reiterating his view in a recent op-ed in the <a href=\"https:\/\/www.wsj.com\/amp\/articles\/why-america-should-ban-crypto-regulation-economy-finance-china-england-trading-currency-securities-commodity-gamble-11675287477\" target=\"_blank\" rel=\"noopener\">Wall Street Journal<\/a>, he said:<\/p>\n<blockquote>\n<p>Crypto is not a currency, commodity, or security. It\u2019s a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states that compete in laxity.<\/p>\n<\/blockquote>\n<p>Nonetheless, the crypto market seems to be having a fantastic start to the new year with Bitcoin currently up nearly 40% since the start of 2023.<\/p>\n<h2>U.S. should learn from the example of China<\/h2>\n<p>The influential investor lauded China for recently <a href=\"https:\/\/fortune.com\/2022\/01\/04\/crypto-banned-china-other-countries\/\" target=\"_blank\" rel=\"noopener\">announcing<\/a> a strict ban on crypto-related services and urged the United States to learn from its example.<\/p>\n<p>He quoted the ban that England imposed in the early 1700s on all public trading in new common stocks for about a whole century as a precedence as well.<\/p>\n<blockquote>\n<p>In some cases, a big block of cryptocurrency has been sold to a promotor for almost nothing, after which the public buys in at much higher prices without fully understanding the predilution in favour of the promoter.<\/p>\n<\/blockquote>\n<p>It is also noteworthy that his business partner and one of the world\u2019s richest men alive, <a href=\"https:\/\/www.fool.com\/investing\/2022\/10\/04\/why-warren-buffett-will-never-buy-bitcoin\/\" target=\"_blank\" rel=\"noopener\">Warren Buffet<\/a>, shares his view on the cryptocurrencies as well.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/charlie-munger-wants-u-s-to-ban-cryptocurrencies\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Charlie Munger reiterates his view on cryptocurrencies. He lauds China for executing a full ban on cryptocurrencies. Cryptocurrencies are having a fantastic start to the new year. U.S. government should push ahead with an absolute ban on cryptocurrencies, says Charlie Munger \u2013 the [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":17305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/17304"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=17304"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/17304\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/17305"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=17304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=17304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=17304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}