Did Munger actually mention energy use as his reason for disliking Bitcoin? I don’t see that anywhere in the article. It seems that he doesn’t like BTC because

Did Munger actually mention energy use as his reason for disliking Bitcoin? I don’t see that anywhere in the article. It seems that he doesn’t like BTC because it’s unregulated, highly volatile, and could be used for illegal behavior (I hope he doesn’t figure out what many people use USD for). Having worked in crypto for a little while, I do sort of agree with Charlie on his last point to some extent: “Bitcoin reminds me of what Oscar Wilde said about fox hunting. He said it was the pursuit of the uneatable by the unspeakable,” he added. I just don’t see any interesting use cases in crypto that don’t look like Ponzi schemes. The ecosystem is bifurcated into scam artists and philosopher engineers who work on impressive infrastructure projects to nowhere. The most popular crypto isn’t scalable or has governance issues. It’s so expensive to send and receive money on most of these block chains that they can’t even be used for basic commerce.