As a former cryptocurrency skeptic, I understand why there is skepticism surrounding cryptocurrency.

However, that skepticism has diminished considerably once I began to look into and research what cryptocurrency is.

The Vice Chairman of Berkshire Hathaway, Charlie Munger was reported to have called for a ban on cryptocurrency in the United States like they did in China.  Here is an article that talks about it: https://www.cnbc.com/2023/02/02/charlie-munger-us-should-ban-cryptocurrencies.html

First, suggesting we follow a Communist regime is suspect to me. Second, why would cryptocurrency need to be banned?  Don't get me wrong, I am in full favor of crypto regulation. There are too many good people being harmed by Scammers, Bullshitters, and Fraudsters in the cryptocurrency world.  I do thing that cryptocurrency needs help to be sustainable, we need to have clear standards regarding advertising and reporting what they actually are, not just some celebrity that was paid off to be a spokesperson.  

To me the idea of banning cryptocurrency is silly and shortsighted. Now, don't get me wrong, Mr. Munger is the expert on finances, and I am just a person writing about cryptocurrency from a psychological perspective. With that said, people tend to fear things they don't understand. There are scammers in fiat everyday and Mr. Munger is not yelling for fiat to be banned,  why not? Likely because he made his money in something he understands.  I used to be afraid of investing in cryptocurrency when I did not understand it. Now, I invest slowly with eyes wide open. I only invest in what I can (but don't want to) lose.  I know there are over 9,000 coins or tokens, to which I would bet that over 8,000 of them are scams. I may be wrong, but I may not be wrong about that. 

Regulation yes, ban no is my thoughts. I respect Mr. Munger and wish I could understand the financial market like he does. I will never be that financially astute, but I may be more open minded about cryptocurrency that he is. There is a future in cryptocurrency if the cryptocurrency world works to reduce and eliminate as much as they can the fraudsters and criminals. 

Here's to the future Mr. Munger. You may be right when it comes to cryptocurrency, but I am not betting on it.