Believe Quote by Charlie Munger
“It is one thing to think gold has some marvelous store of value because man has no way of inventing more gold or getting it very easily, so it has the advantage of rarity. Believe me, man is capable of somehow creating more bitcoin... They tell you there are rules and they can't do it. Don't believe them.”
About This Quote
Source Interview: CNBC, 2023
The value of gold stems from its scarcity, but Bitcoin’s supply can be expanded by human ingenuity, challenging the notion that scarcity alone determines worth.
In simple terms: Gold is scarce; Bitcoin can be created.
Key Takeaway
Question the assumption that rarity equals value.
Themes
economics
value
scarcity
innovation
risk
finance
Mood
skeptical
analytical
curious
Type
philosophical
inspirational
When to use this quote
- Investing
- cryptocurrency adoption
- policy debate
- financial education
Key Concepts
Economic theory
monetary policy
technology disruption
Questions to Reflect On
- How does perceived scarcity affect asset prices?
- Can technology sustainably increase supply without devaluing an asset?
A Different Perspective
Scarcity alone does not guarantee lasting value; market perception matters.
![“They [Mc Donalds] take people and give them a first job, which enables them to get a second job. They do a very good job of educating troubled young people to be good citizens and they're probably more successful than charter schools.” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/a55/charlie-munger-458_be-good_they-mc-donalds-take-people-and-give-the_41809.jpg)
![“It is way less certain to be a wonderful business in the future. The threat is alternative mediums of information. Every newspaper is scrambling to parlay their existing advantage into dominance on the Internet. But it is way less sure [that this will occur] than the certainty 20 years ago that…” quote by Charlie Munger](https://sms4smile.com/quotes/img-quotes/8d0/charlie-munger-458_advantage_it-is-way-less-certain-to-be-a-wonderful_59627.jpg)
