Topic: Elon Musk on Bitcoin: "Bitcoin is almost as bs as fiat money" (Read 735 times)

OK let us walk through the Elon Musk Tweet here.

The link is below:

https://twitter.com/elonmusk/status/1340588909974200321?lang=en

That was 6 days ago today, pretty sure 5 days.

So 6 days ago the price of Bitcoin was according to Coinmarketcap.com www.coinmarketcap.com at the HIGH for that day of $24,161.65 USD

currently, at the time of this post, the price is $26,874.92 another All-Time-High for Bitcoin!

Doing the math, that means that IF Elon Musk would have bought 1 million Bitcoin at the December 20th price of that date above

he would have in the last 6 days made a 10.09% increase on or say about 109,000 USD (I think that is ballpark)

Now, remember it takes 11 plus days to make 1 million SECONDS it takes 31.5 YEARS to make 1 Billion Seconds...so the 1 million above is 'chump change' to Elon Musk.

Elon Musk does NOT like Bitcoin because it takes away Tesla's traditional stock glory and shine...if not for Bitcoin all $$ would likely be moving/more to Tesla stock as we speak!

If Elon Musk would have bought Bitcoin 1 month ago it would have been more than a 40% gain.

So remember his 'motives'

Anyway, thought it appropriate on this thread. Actions have 'consequences' ..especially the BS comment seems not to be true..don't ya think Elon?

(damn, I hope he is at least on bitcointalk.org)

Brad

Guess he was trolling yet again. A shitpost if you will, but it does have its own way of incurring impacts to the people investing in bitcoin. We even made a thread here just to talk about it. Hmm. You may also be correct in this, some form of ulterior move that urged him to tweet this or something. Whatever it is, it's working, not long ago we reached 25k and it's not showing any signs of stopping right now. We may as well ride on this wave to shake off the price a little just to correct it. But I digress, Elon is a very calculated man.

Well, some free publicity from a celebrity of his caliber will boost the price significantly as it did already. We know he does use his Twitter to promote things in a very subtle way... like he did with his girlfriends band.   

I doubt that he would bash Bitcoin for no reason at all, because he was a keen supporter of Crypto currencies a while ago and he even admitted that he received some Bitcoin from a friend. (He did not buy any... based on his previous social media statements.) 

Surprisingly, yes and I think Elon Musk will be aware of that by now cause if the government could fail when trying to bring Bitcoin down he should fully understand that is FUD message is no match for Bitcoin.
Having said that, if someone like Steve Wozniak who was once an admirer of Elon could say he has stopped believing what Elon promised since the year 2018 i don't think we should also be bothered by his words.

This person may really send crypto to the moon

#5 Bitcoin news media changes the story by creating a clickbait title to make it appear that it was Elon who was interested and inquired about bitcoin. The larpers celebrate by repeating the clickbait without investigating the source hehe. This has become normal behavior in the cryptospace.

If you think about it there is a good point to get though. Elon Musk is rich, what does he own ? Tesla stock. Not much fiat, probably not much BTC. So in a way in what denomination is Tesla stock is doesn't matter, as long as you own Tesla stock. Just like true BTC believers don't care that much about BTC price in dollars, because they care about BTC, not dollars.

It seems to me like Elon had smoked weed and was high posting this xD Although, he could say it just for hype. Have you seen a reaction of the DOGE community and coin price growing after his post about DOGE? It contained from a one-word  

I think I understand what Elon Musk is saying here. He probably thinks he has reached all his targets and having made all this wealth, it still means nothing. While he started as an average person having a target to make as much money as possible, when he achieved this, it meant nothing. It did give him more comfort and perhaps every material gain someone can have, but in the end it didn't make him a better person.
Money didn't help Musk find any answer he was looking for so it is total bs to him.

He has a positive idea about Bitcoin, it is not as bs as fiat, but it still is money although not as bad as something that we have to trust the governments with our lives.

Keep calm and follow Elon

#1  Michael Saylor proposed Elon Musk denominate tesla stock in bitcoin.

#2  Elon Musk felt offended by those remarks.

#3  "Bitcoin is almost as bs as fiat money" is offended and emotional Elon Musk speaking.

#4  Elon Musk could return to his original stance on crypto later if he no longer feels offended.

I don't think that his account got hacked, he is just trolling, we all know that he is a figure and can make a lot of influence in this industry, seeing him that tweeting a lot related to bitcoin and other altcoins can make it pump or can dump it vice versa, we can say that this can help bitcoin to pump , musk has a lot of followers.

I dont think his Twitter account is hacked because he have been making different negative tweet about Bitcoin on twitter just to pump the price of Dogecoin (not his Bitcoin as you said) but his plan is not working and oi honestly dont know what to believe again cause I read that "Elon Musk inquired about converting “large transactions” of Tesla’s balance sheet into bitcoin in a Twitter exchange with Michael Saylor."

He already a crypto enthusiast but mostly support Dogecoin.

Exactly my thought on him trying to manipulate weak hands. But again, I thought why would he do that if he already bought during the dump if not for pecuniary motifs. The rich are always capitalist in outlook. They never get satisfied making more money. Elon probably wants to gauge the market and see how he can reenter (possibly) his lost position. He probably sold off some of his hodlings when Bitcoin broke the 2017 ATH, thinking it would retrace but it hasn't yet.

If really His account hacked Then i think Hacker trying to sell his Bitcoin with a hype news so the BTC move higher & he can get more profit.
Elon mask will come to Crypto sooner or later cause every big investors is coming to Crypto like Microstrategy.

I was only showing an old argument made before in the cryptospace. It also shows that Elon Musk ponders the questions that we should be exploring ourselves. However, much of us do not and care only what the larpers are telling us because it is easier, it also pumps bitcoin hehe.

Again, I think Musk is simply 'scared' of Bitcoin to a 'very, very, mosquito bite, small extent'. Tesla Stock is probably the 'closest' thing to

a Bitcoin return since the 3x price increase of Bitcoin since 1/1/2020 price of $7,201.96 USD on 1/1/2020 according to WorldCoinIndex site www.worldcoinindex.com.

Now of course the current price is $23,827 USD which again, is 3x more in price as of today 12/22/2020! Sheesh! Smart Billionaire misses the boat on this one!

So, IF, Bitcoin did NOT ever exist, it can be said that Tesla would be even bigger in 'value' compared to everything else. Thus he is just doing 'sour grapes'.

The 'good news' is MANY, MANY multi-billionaires over the past few years that have started out 'scoffing' at Bitcoin/Cryptocurrency and now have been eating CROW in 2020.

In hindsight, for 2020 alone, NO matter who you are, or around on say 12/24/2020 when Bitcoin was about $3,900.00 USD (I should know I had to sell 13 BTC for real-life reasons...I got

5 back but still have 8 BTC that 'got away' so to speak from the hodl/hoard). I remember, due to my real-life issues people even that December of 2018 were giving Musk a bad time

and he should get Bitcoin as a Christmas deal. So looking back, like all these multi-billionaires do..thinking they are smart and all...it still has to frigging hurt like hell

looking at this year's 3x Bitcoin pump in price and not buying any....and trying like the rest of us to jump in now or buy more or what?

Though, to be truthful, knowing Musk...he may already have a  Billion dollars in Bitcoin/Crypto from back in the day and is laughing his ass off with his deception...

by acting like he does not have anything of the sort. IF so, this is how I'd do such, so if so, again, well played, well played indeed! If not I'm sorry for your loss.

Anyway, we will see, nice to think however that some of us 'saw the light' and held our hoard/hodl of BTC/Crypto from long, long ago and at least in crypto beat at least

'some' of the supposed 'smart money' folk of the 'last decade'. So it goes....would be nice though if he just 'plopped' a billion dollars into Bitcoin, don't ya know though!

Brad

Probably trolling, his tweet doesn't make sense, he's just trolling those people who have bought bitcoin and waiting for it to go up.

Also, it's not that big deal, people on social media shouldn't take as a huge influence even they're elites of the elites, on the flow of any currency in the market.

As i replied earlier in a similar thread, Elon Musk is a troll and he comes up with these tweets whenever he is high  . Whenever he talks about cryptocurrency and BTCitcoin he always mentions Dogecoin as well and after his tweet as expected the price of Doge started moving up and that is the sole reason he comes up with these tweets, just to see how the global market is moving with his silly tweets .

Well following someone like that is stupid, just like religion. We have a brain, the goal is to use it to make our own opinions. Of course the opinion and insight of others is interesting, but just repeating/following what someone says, all the time, is not the way to go.