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.

they can say anything they want but the prob here is - there are many people who looked up to them. and thought that every tweet or statement from them has meaning. while maybe he's just saying what he's feeling at the moment, not giving a f*ck bout it. but for some, it is already a big deal.
we should not treat this as a serious comment. just let it pass and in the future, who knows, he will change again his statement. we are in the digital age, where everybody is free to express his feelings at any medium he wants, so many socmed apps out there to burst out your feelings...

So in the space of days, Musk is talking about Dogecoin and then saying BTC is bs? I thought I had no feelings about the guy, and now I confirm I don't heh. Wish people hanged on to my words the way they do his tweets.

No hard feelings. It's all good. We can't all be offended about magic internet money being called bs now, can we?

If we count the DOGE tweet earlier, I think he's trolling for the fun.

Or he's acting as the Christmas Naughty Elf, bs-ing Bitcoin and praising dogecoin.

It is very possible that he does whatever he does a on social media just to fuck with us.

The third possibility is that he doesn't give a fuck about crypto and never had.

So he is just trying to fuel people's emotions and create drama by saying whatever that he thinks would succeed.

Welcome to the age of the Technocrats,

where they can fuck with anybody, tell racist jokes, smoke weed like a high school boy and nobody cares.

20 years ago a CEO of a big company had to act "normal". Now they don't have to.

The words "Bitcoin is almost as bs as fiat money" actually puts Bitcoin higher than fiat money, the key word here is "almost". It kinda trolls both Bitcoiners, because they get mad when someone says Bitcoin is like fiat, and Bitcoin haters, because it says that Bitcoin is better than fiat.

As for the argument, I think the biggest similarity between Bitcoin and fiat is that they both have no use except for being money, while things like gold have useful chemical and physical properties, but this in no way means that Bitcoin inherits some flaws of fiat money, because those flaws come from centralization.

Elon has got me confused. Is he joking? I always thought he was a bitcoin enthusiast. This is a clear example why it is never good to seek financial advice on social media

that is only because useless altcoins such as DOGE rely on pump and dumps for their survival. they literary have no purpose for their existence so when there is some news like this the pumping teams take advantage and pump the hell out of that coin.
there is also the fact that altcoin markets are all very small and controlled. for example the volume on one exchange (Binance) is the only thing that determines the price.

none of the above is true about bitcoin though!

I don't think Elon Musk was drunk when he made his twett. He's just trying to manipulate the brains of the market players. He is one of the most influential people and has a large following. Just look at the effect for DOGE. DOGE prices soared when he said one word: DOGE.

Ilon Mask has been using cryptocurrency for a long time... Also sometimes likes to pump his favorite coin - DOGE...

I was speechless with what Elon Musk posted on twitter regarding Bitcoin, maybe this is just a joke for him. But successful
and influential person like Elon Musk shouldn't make jokes like that. This will only spoil people's view of Elon Musk, I don't
really think about what Elon Musk has done. Because I'm not a supporter of Elon Musk, so whatever Elon Musk posts on twitter
doesn't change my view of Bitcoin. For me Bitcoin is better than fiat, i love Bitcoin very much.

I lost respect for Elon Musk a long time ago.

The hyperloop isn't realistic and will never work. His claims that he can make tunnels like 100 times cheaper is a bunch of bullshit too. He is either lying or he doesn't have a good grasp on physics.

His view on Bitcoin I find personally irrelevant. He will only try to be popular. Elon Musk and his reputation deserve to crash and burn but once you're ultra rich you can stay ultra rich forever and his fan-boys are basically a cult.

Musk should consider the fact that BTC is the celebrity of this era. WE ARE ALL AWARE WHAT IS BITCOIN even my 4 years old brother knew about it, with that, he was trying to make some famous impression about it. Either influencing people`s minds or to those institutions who put cash flows in the BTC market. These are just fancy comments from a prominent but bored "individual" who have the power to change something from nothing. In the first place, Elon Musk accumulated bitcoin by himself so we can`t say that he is against it nor he is with it despite being a holder. Even for us, we come to love bitcoin not because it is decentralized but because it is the best working asset right now.

BUT, he also posted this meme.



I believe he's actually considering converting some Tesla stock and HODL Bitcoin as part of his company's reserve asset, but with the approval of the board of directors. He can't decide alone for a public company.

key word almost.

who even needs bitcoin when we have dogecoin? that's where elon is coming from.

he's a total troll. if you guys are hoping for another michael saylor (CEO/founder of microstrategy) then you're probably gonna be disappointed.

Related to Elon Musk's mention of bitcoin, the mainstream news media likes to twist the truth and create another clickbait. Elon Musk did not inquire about moving large transactions to bitcoin. It was Michael Saylor who was going to Elon Musk's tweets to larp about bitcoin.



Elon Musk inquired about converting “large transactions” of Tesla Inc.’s balance sheet into Bitcoin in a Twitter exchange with Michael Saylor, a prominent booster of the digital currency.

Source https://www.bloomberg.com/news/articles/2020-12-20/musk-inquires-about-moving-large-transactions-to-bitcoin

almost...
that make it better than fiat!
pay attention people there is hidden gems in this tweet!

Maybe he wants to test the reaction of market players. He wanted to know if his troll may affect the bitcoin price. As we all know that Elon Musk has many followers. He can manipulate the mind of his supporters by just a few click. I don't know if what his side is pro or cons to bitcoin. But whatever what his side is, I don't care since I am not fan of him. I admire for his aeronatics stuffs but I never admire his thoughts about cryptocurrency. Bitcoin is better than fiat.

On the contrary, fiat is printed all the time, it's supposed to grow in circulation as the economy grows (and shrink when it shrinks). 2142 or today doesn't make any difference, fiat price is going down, by design, and BTC price is going up, by design. If you want to hold currency for future use, the choice is obvious.

Sometimes I cannot understand how a person like Elon Musk can post tweets like this. Let's say that he was drunk but the other day he would delete what he posted. Let"s say that he was trolling but he is head of the Tesla and SpaceX. I just cannot say anything more...

Bitcoin may not be perfect, but it doesn't compare to fiat money, since Bitcoin is definitely better than fiat. Perhaps this post was his joke, I don't think he has such a bad opinion of cryptocurrencies, as indicated by his next post on Dogecoin. I will even say more, I am sure that in the near future he will be one of those people who will promote bitcoin to the masses, because for this he has a huge influence, money and tools for this.

this former dogecoin CEO (posted on his Twitter account) really like Bitcoin and Doge "LOL".  I cannot deny that Elon has great sympathy/influence especially when it comes to technology.  many presidents love Elon mainly because of the foresight and success of his companies (SpaceX and Tesla).  To change the view of the government and the public opinion, it requires the role of someone who has a big influence..

I highly doubt this guy.

1st tweet: bitcoin is my safe word.
2nd tweet: Just kidding, who needs a safe word anyway!?

I meant what the hell? We certainly don't want this kind of influencers. It may be beneficial to us in terms of profits but it is not a good practice.

It almost seemed like he was drunk how much he was tweeting about cryptocurrency.  I still think it's a nod to bitcoin as in a small endorsement.  He did say he thought it was less bullshit than fiat money.  I also found it pretty interesting about his tweet saying "one word..doge".  I know he does that as just a joke/trolling. 

So gold and diamonds are the same as fiat also, right? I wonder how much gold we'll still be mining in 2140.


And he must give some kind of entertainment and a reason to keep following him.
But I'm amazed at the childish reactions of some bitcoiners rushing to argue with him like we would give a crap about, he is out for trolling as he usually does when some things go perfectly his way, he did so with his own company, bitcoin just happened to be the hot topic these days so he has chosen it.

In the end, who cares about what a single person says, even if he is not joking?


Or as always there is a simpler explanation:
https://twitter.com/elonmusk/status/1284291528328790016
It's not the first time when he does so, he just likes the doge memes

Well, it was confirmed that he was only trolling, might also think that he is testing the market reaction and how his words influence the market.  We cannot remove that from a person who knows have a huge influence over others.  He needs to test how effective his words are from time to time.

Yeah right.Evey Bitcoin trader in the world is patiently waiting for master Elon to tweet some BS,before he decides to buy or sell Bitcoins.  
The Dogecoin pump clearly shows how weak dogecoin actually is,if some famous billionaire can pump the price of that altcoin by just promoting it on Twitter.
I can kinda agree with Elon Musk,by the way.Fiat money is BS,Bitcoin/cryptocurrencies are BS,the financial markets and market economy in general is BS.Tesla stocks are overpriced BS as well.

With his 40million twitter followers, whatever he may say about bitcoin will of coirse gonna become a trend. After posting thst btc almost fiat money and he tweet again about dogecoin and suddenly doge pumps 20% bounce back to 11% increase. The point here is that he is an influencer, a crypto enthusiast and whatever he posted may eventually have an impact.

Just another news : Musk Inquires About Moving 'Large Transactions' to Bitcoin

McAfee has a purpose of pumping the markets through paid tweets and that actually happened until he finally stopped. The pumpers are waiting for his tweets and would immediately buy the token/coin that he'd tweet. He hasn't shown up this bull run but that's much better. 

Unlikely that his account is hacked. He would actually tell it to the world that something like that happened. But it's in his full control and just tweets after tweets, the intention is really like trolling and wanting to take the attention of everyone including the big fishes in the other markets.

This is a pretty good guess. I don't know what the end goal of this is for him, whether just personal entertainment or something malicious. But when you put together this tweet and his other tweets about Dogecoin and the Dogecoin pump I think it was an experiment to see the market reactions and Doge market reacted strongly while bitcoin didn't care...

I just saw the description of his profile and I'm laughing for some time when I saw it .
I think that he is trolling knowing that he is a big supporter of Bitcoin.

I don't think though that his account has been hacked again because if it is then he isn't the only one to get hacked but many popular people too like what happened last time. On the other hand, I can say that he isn't trolling if he continues to bash crypto or say negative things about it.

LOL. These troll reminds me on how Mcc Afee trolled in 2017 and 2018. At the ends, his tweets are not simply troll, he did something shady and was accused by police later.
Those influencers and their tweets can manipulate price of cryptocurrency but they don't contribute anything to developments of those projects. They are not members of internal team and sometimes even don't involve in any progress of community expansion.

John McAfee Indicted for Tax Evasion
John McAfee has been arrested in Spain and is facing extradition

Not a troll just the truth.

In  2142 bitcoin is a 100% premine to anyone born, it might as well be fiat to our future generations.

However, he is also one if the smartest people in the world. Bitcoin is similar to fiat has also been an unpopular argument in the cryptospace community but an argument not closed. According to the argument, bitcoin is similar to fiat, not similar to gold because it was created by man, it has a version no. and a group of men can decide to fork it to issue more coins or fork it to print more coins for themselves similar to Roger Ver.

I rather like Tesla, Musk and SpaceX, but if you ask me what is too expensive right now between Tesla and BTC, I'd say definitely Tesla. We should all be driving Teslas for it to be worth close to its current valuation. Clearly, we aren't.

You think he's serious? We're talking about a man who sent a car into space.

It's like his tweets about anime, don't take it for real, but if you really want to, he said almost as, but we all use fiat money despite that. So bitcoin is better than fiat money, more people should use it according to Musk. He's using bullshit fiat money every day and bitcoin is that better alternative.

Remember how J.K. Rowling trolled people on twitter by asking about Bitcoin? I'm pretty sure Musk is doing something similar, he probably finds it hilarious how some crypto-enthusiasts are cheering that he is supposedly bullish on BTC or other coin. And he probably finds it really funny how his tweets pumped DOGE by 20% almost instantly. Bitcoin does need endorsements from any celebrities, and I would never tell any of my friends to buy Bitcoin just because Elon Musk might like it.

I think he made it clear in his replies after that he is trolling, he specifically said "come for the comments, stay for the memes" in one of his tweets which I suspect he is trying to point out that he is just there trolling. Other people pointed out his "former ceo of dogecoin" which he is not so he is clearly trolling around people here. Elon Musk from what I know in the past years is a believer in cryptocurrency so I don't think he is really trying to say Bitcoin is BS.

I really think that he was hacked, earlier today I saw a bitcoin meme in his account that was positive in its attitude towards bitcoin and now just a few hours later he posts that which is a very hard critique against bitcoin, as you say it is possible that he's trolling people and he is just making fun of them, but I do not know, all of this seems kind of suspicious so it will be interesting if in the next few days there is some kind of news about him and maybe other people getting hacked again.

Now if he's trolling people I will admit that he got me, I don't really follow him or anyone on twitter so I do not know if he does something like this frequently.

Musk has just been taking his followers for a ride over the past couple of days on Twitter. So far he has given mixed signals about Bitcoin and doge. Right now, he doesn't look like he's on any side and trying to play it safe by being on a neural ground which is what he's currently doing. Seeing Elon musk tweeting about Bitcoin just when BTC hits a new all time high with further institutional funds coming in after neglecting it for so long says a lot. He might just be taking everyone on crypto Twitter on a roller-coaster ride without giving too much detail on his current stance of Bitcoin and other cryptocurrencies. We're getting to an era when Bitcoin is becoming too hard to ignore not only but celebrities and famous people but by banks and government bodies.
 
By the way, don't take Elon musk tweet too seriously as he's only posting memes most of the time.

My guess is that he wants to test the people's reaction on the market. Like any high-net worth individual he has difficulties entering big positions in the market. Beware of the institutions games to engineer liquidity.
Basically they might try to manipulate the masses through media and other means to sell while they accumulate, but I guess they have already done that especially Musk. xD

Maybe he's trolling again.

Look at the description of his profile; "Former CEO of Dogecoin".

He's tweeting about Dogecoin too which made the pump quickly. Just a few hours ago, he has tweets about bitcoin. We knew it that Elon is for bitcoin and his tweets are always favorable to bitcoin.

Its seems it wasnt hacked but rather i do see to be an another trolling from him.

I cant really expect those words on someone who do have positive sentiments towards btc but well everyone can changed minds. 

https://twitter.com/elonmusk/status/1340588909974200321

Is his account got hacked again? I thought he was a believer...

He is also known to be trolling people but I can't decide if he was trolling earlier or now?  Maybe both!