Elon Musk: "Bitcoin is almost as bs as fiat money" - page 2.

Bitstar_coin

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Quote from: 20kevin20 on February 20, 2021, 05:25:54 PM

After so many pumps sparked by Elon Musk through his tweets, Musk calls Bitcoin "almost as BS as fiat money".

He had "Bitcoin" on his Twitter bio recently. His company just invested $1.5B in BTC. He sparked bull runs for a memecoin and called crypto the future currency of Earth - why would Musk back off the Bitcoin bullish mindset and call Bitcoin BS?

The tweet:

Quote

To be clear, I am *not* an investor, I am an engineer. I don’t even own any publicly traded stock besides Tesla.
However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere.
Bitcoin is almost as bs as fiat money. The key word is “almost”.

Source: https://twitter.com/elonmusk/status/1362600676174557186

Why am I not surprised, lol, a chronic business man with one goal in mind 'profit ' can not understand anything else, and that's why am surprise the more because since the only language this guy understand is profit why is he being negative, btc will give him as much profit as he desire he shouldn't worry about the technical aspect Grin

,
Well he said the keyword is 'almost' which means he still has some faith left in btc, lol, what a showoff.

LUCKMCFLY

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Quote from: Vishnu.Reang on February 21, 2021, 11:36:55 AM

Quote from: chinesetranslation.com on February 21, 2021, 10:50:41 AM

Because paid shills on twitter only care about shilling centralized ponzis,

And elon think the entire cryptocurrency market is joke.

That's why he's pumping doge.... Cheesy

If he was pumping DOGE, then Tesla could have bought DOGE instead of BTC, right? The only time when Elon said something good about DOGE was a long time back, when he pointed out that it is somehow protected against inflation because the annual supply is limited. Not even in one occasion he mentioned that DOGE (or for that matter any of the altcoins) is a good investment option.

On the other hand, he has continuously tweeted about Bitcoin in an overwhelmingly positive tone. Even in this particular tweet, he is actually saying that Bitcoin is better than fiat cash. My point is very simple. Elon regards DOGE as a joke and Bitcoin as an investment option. Those who believe that Elon promotes DOGE will regret about it later, when DOGE ends up similar to XRP.

You are right in what you say, Elon Musk promotes Bitcoin because he is clear that it is a much better investment option than even relying on fiat money, in fact without going too far, some Gold lovers consider that Bitcoin is an investment almost safe haven, of course many discussions have been generated around this issue, but certainly Bitcoin is taking a ground that it should have taken a long time ago, even when they talk about Doge the fact that Elon took it into account was a plus for his pump, but we must know that Doge has always been a pump and dump, it is normal, but we must highlight the influence that someone as famous as Elon Musk can unleash worldwide.
FIAT money is known to generate a lot of debt, it is impressive what has been unleashed, some economists say that a fall in the world economy will soon come or is looming and this has generated diversifying the money for both gold, real estate and bitcoin.

ecnalubma

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He bought $1.5 billion worth of BTC and call it bs? No one will believe him with this statement, he’s strategy is wrong he should have started throwing bad statements about BTC before initiating buy order. Elon is a businessman and this could be part or his intention to bag more Bitcoin as possible.

Vishnu.Reang

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Quote from: chinesetranslation.com on February 21, 2021, 10:50:41 AM

Because paid shills on twitter only care about shilling centralized ponzis,

And elon think the entire cryptocurrency market is joke.

That's why he's pumping doge.... Cheesy

If he was pumping DOGE, then Tesla could have bought DOGE instead of BTC, right? The only time when Elon said something good about DOGE was a long time back, when he pointed out that it is somehow protected against inflation because the annual supply is limited. Not even in one occasion he mentioned that DOGE (or for that matter any of the altcoins) is a good investment option.

On the other hand, he has continuously tweeted about Bitcoin in an overwhelmingly positive tone. Even in this particular tweet, he is actually saying that Bitcoin is better than fiat cash. My point is very simple. Elon regards DOGE as a joke and Bitcoin as an investment option. Those who believe that Elon promotes DOGE will regret about it later, when DOGE ends up similar to XRP.

ven7net

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Quote from: 20kevin20 on February 20, 2021, 05:25:54 PM

After so many pumps sparked by Elon Musk through his tweets, Musk calls Bitcoin "almost as BS as fiat money".

He had "Bitcoin" on his Twitter bio recently. His company just invested $1.5B in BTC. He sparked bull runs for a memecoin and called crypto the future currency of Earth - why would Musk back off the Bitcoin bullish mindset and call Bitcoin BS?

The tweet:

Quote

To be clear, I am *not* an investor, I am an engineer. I don’t even own any publicly traded stock besides Tesla.
However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere.
Bitcoin is almost as bs as fiat money. The key word is “almost”.

Source: https://twitter.com/elonmusk/status/1362600676174557186

I believe that in order to know the true meaning of Elon Musk's words and actions, such questions should be asked to him. However, there is no guarantee that he will answer them. But if you think about it, then Elon Musk is probably just playing with the community. But in general, why did everyone decide that what Elon Musk says, this will definitely happen? It seems to me that the fact that people believe everything they write on social networks is a big surprise for those who write these words. Probably we are being manipulated and Elon Musk probably does the same. I believe that one should not pay attention to what Elon Musk writes, since he himself said that he did not invest in BTC and probably does not have BTC, then why should his words matter for BTC?

chinesetranslation.com

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Because paid shills on twitter only care about shilling centralized ponzis,

And elon think the entire cryptocurrency market is joke.

That's why he's pumping doge.... Cheesy

Vishnu.Reang

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His statement can be interpreted in thousands of different ways, but at least as far as I am concerned, I don't find anything wrong in what Musk has said. Here is what he has said about fiat cash:

Quote

However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere.

That explains why he prefers Bitcoin over fiat. Now here is the next statement:

Quote

Bitcoin is almost as bs as fiat money. The key word is “almost”.

He is saying that Bitcoin is superior to cash, but it has some flaws that needs to be taken care of. I completely agree with him. Bitcoin is not free from flaws. Delay in getting confirmations and high transaction fee remains as some of the negatives of Bitcoin.

Amejoaquim

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Since elon mosk keep tweeting about bitcoin and crypto the price of btc keep rising.

And until now I still can't see the bitcoin price gap going down, i think the price will keep rising and be more stable than before (2017-2020).

sujon5

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Don't try to analyze and understand Musk's behavior. He manipulates the market as usual.

Natsuu

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Quote from: BIT-BENDER on February 21, 2021, 05:20:57 AM

I can understand that, he is frustrated or over overwhelmed by feeds, interviews -personal or public- about his interest, excitement or investment in Bitcoin and maybe he wants the smoke to clear, but it's had for a Billionaire to hide out, and he is creating a form that he hates Bitcoin or crypto-currency, maybe me using hate is
Going far but you get the point.

He is not disgusted, hate, frustrated, or ashamed of BTC, he just clears out that he is not involved by any means on why TESLA buys BTC. He made it clear that there's no personal intervention as people know that he is the CEO of the company.

And actually, this is somehow a neutral tweet that is open for any kind of interpretation.

BIT-BENDER

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I can understand that, he is frustrated or over overwhelmed by feeds, interviews -personal or public- about his interest, excitement or investment in Bitcoin and maybe he wants the smoke to clear, but it's had for a Billionaire to hide out, and he is creating a form that he hates Bitcoin or crypto-currency, maybe me using hate is
Going far but you get the point.

Karartma1

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Don't know what to say about it as it makes no sense; it's almost impossible to understand what's the agenda behind Musk's tweets.
I believe he's kind of playing with fire trying to probably see whether twitter will start flagging his tweets as some derailed financial advice or not.
He can't keep making the weather here.

Natsuu

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Quote from: ?? on ??

Musk can say and make and bs comment he wants to manipulate the markets. I wouldn't trust his tweets that much. I was a BTC hodler long before his tweets so I don't really care.

Maybe you should care, cause he can easily manipulate it, if he can make it rise up to 50+, then he can lower it to 20 in just a simple tweet. Just sayin

VanDeinsberg12

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Almost means it's still better than fiat then, still a good thing considering how bitcoin only appears in a decade and already better than the ancient fiat money that's already exist and got many patch here and there but still a lot more bs than bitcoin.
Elon need to know that crypto is always developing, it's matter of time until most of cryptos fixes its imperfection.

hatshepsut93

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Quote from: 20kevin20 on February 20, 2021, 05:25:54 PM

why would Musk back off the Bitcoin bullish mindset and call Bitcoin BS?

Did you understand his tweet? He even spelled it out this time by saying " The key word is “almost” ". He is saying that fiat money is BS and Bitcoin is almost BS. This is because fiat money can be printed in any amounts, while Bitcoin's supply is limited, while both have no intrinsic value. It was clear that he meant it when he originally tweeted "Bitcoin is almost as bs as fiat money" - I don't get how it flew over the heads of most Bitcoiners, I guess people are way too attached to Bitcoin and just have a knee-jerk reaction when they see "BS" and "Bitcoin" in the same sentence.

tbone777

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Will CT start to hate Elon after this? He is not maxy anymore

tinopener

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Quote from: KonstantinosM on February 20, 2021, 11:03:30 PM

Elon Musk is a charlatan. People don't recognize that because he's so successful but he's the most overrated person on planet earth right now.
I don't wanna get into it. But his opinion on bitcoin is irrelevant. Only his influence among his butt-sniffing followers.

Short Tesla if you feel that strongly about it.

blue_nexus15

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Almost like but never! I think Elon Musk has always had some kind of limp thoughts that often make me confused, but his scope of action, his computation is intentional and he wants to imply something.
The attraction that Elon created was so great, admiring that the melody that Elon had had great friction. The intentions Elon wanted to fulfill could lead to the next quest. Always pay attention to this move!

pinggoki

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Quote from: Ryker1 on February 20, 2021, 05:35:27 PM

Well, this is what we expect from them, the ^{[institutional]} investors and the ^[influencer] investors, that anytime they will control the price of bitcoin. Believe me or not, that man was trying to manipulate bitcoin and start making negative comments towards bitcoin. That is not the first time he called bitcoin as a ^[BS] if I am not wrong last year, he also called bitcoin is a BS currency fiat not this as the first time. He obviously now a market manipulator, who knows he wants a dump so that he can able to invest again.

He can do it whenever he wants. Remember that he is a famous influencer who owns the Tesla and SpaceX, whatever he says, people will still believe him especially followers. Simply Elon Musk is currently manipulating the world and the people by back off on the bitcoin and to be able to less the hype of it. Elon Musk was intelligent to think that lessen the hype on the bitcoin will be able to help him also. To cut it short, Elon Musk is just manipulating or playing the crypto market in order for it to be dump because although he buys 1.5b of bitcoin he knows that if it dumps he can still have profit on it.

pragna

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Quote from: 20kevin20 on February 20, 2021, 05:25:54 PM

After so many pumps sparked by Elon Musk through his tweets, Musk calls Bitcoin "almost as BS as fiat money".

He had "Bitcoin" on his Twitter bio recently. His company just invested $1.5B in BTC. He sparked bull runs for a memecoin and called crypto the future currency of Earth - why would Musk back off the Bitcoin bullish mindset and call Bitcoin BS?

The tweet:

Quote

To be clear, I am *not* an investor, I am an engineer. I don’t even own any publicly traded stock besides Tesla.
However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere.
Bitcoin is almost as bs as fiat money. The key word is “almost”.

Source: https://twitter.com/elonmusk/status/1362600676174557186

I think this is fully a game from Elon mask. As he is a business man and he knows well that if he tweet about any thing that must be boom in a second and he has taken that benefit. He just invested into DOGE coin in low rated and after tweet he gain his profit same as for BTC. After his comments or tweets BTC is going boom to boom and we would not be surprised if BTC hit to 100k$.

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