Topic: The US dollar could run out soon - Gold can lose value - Elon musk (Read 268 times)
Did Elon really said that because there's no picture or proof that he did so, also how can USD run out if they continuously printing these papers and gold is unlikely to lose its value as long as people from all over the world believes that gold is valuable, and so it will be valuable.
June 19, 2021, 08:48:46 AM
Elon schmelon. Stop following trolls, who don’t care about the network, or the people in the community. His ego is discrediting everything the community, the merchants, and the developers have been working on for Bitcoin.
Instead, listen to people with more serious minds, and with intent of making Bitcoin better.
https://twitter.com/jack/status/1400839179513339905
really appreciate what you say that this seems out of the ordinary unnatural. but surprising is that many still strongly believe in what is said even though it may need to be analyzed properly before being able to determine their actions. because every time he is able to make people believe, he will continue to do because he feels what he is doing benefits him. This is of course clear learning that should not be continued because it will have a bad impact and will become commonplace. Instead, listen to people with more serious minds, and with intent of making Bitcoin better.
https://twitter.com/jack/status/1400839179513339905
June 07, 2021, 06:49:40 AM
Elon schmelon. Stop following trolls, who don’t care about the network, or the people in the community. His ego is discrediting everything the community, the merchants, and the developers have been working on for Bitcoin.
Instead, listen to people with more serious minds, and with intent of making Bitcoin better.
https://twitter.com/jack/status/1400839179513339905
Square is considering making a hardware wallet for #bitcoin. If we do it, we would build it entirely in the open, from software to hardware design, and in collaboration with the community. We want to kick off this thinking the right way: by sharing some of our guiding principles.
1/Bitcoin is for everyone. It’s important to us to build an inclusive product that brings a non-custodial solution to the global market. Much respect to everyone who has gotten us this far. What are the biggest blockers to get a non-custodial solution to the next 100M people?
2/“No keys, no cheese.” The exchange you used to buy your bitcoin probably attends to your security with good intent, but circumstances may reveal “custody” actually means “IOU.” Deciding to take custody, and security, of your bitcoin is complicated. What’s the #1 problem here?
3/Custody doesn’t have to be all-or-nothing. We can probably simplify custody through “assisted self-custody.” Assisted requires great product design: minimal setup time, relying on existing devices, and end-to-end reliability. How should we be thinking about assisted solutions?
4/Most people access the internet on mobile. Any solution we build must provide an excellent experience when using mobile, despite its shortcomings and liabilities. An uncompromising focus on mobile interaction is likely to include the most people. What are the dangers here?
6/Blend availability and security. Make it easy for customers to keep the funds they want quick access to at their fingertips, spendable with phone-only permissions, while keeping the remainder under tighter, less available but more secure controls. What’s the right balance?
7/Safety is complicated. For any wallet product, we consider safety failures to stem from one of three types of events: availability failures (“sunken gold”), security failures (“pirated gold”), and discretionary actions (“confiscated gold”). What threats are we missing?
8/Today’s recovery mechanisms burn money. Customers have to protect recovery information from damage, loss, and theft and store secret(s). In practice, this is not yet mainstream-ready. We don’t want more passwords on post-its. What best of class solutions should we consider?
9/Are small displays necessary? Expecting mainstream customers to validate details on a small display is *unlikely* to increase security and *likely* to reduce device reliability, increase device cost, and decrease accessibility. Is the product better if a display isn't required?
10/Trust can’t be required. Today, customers depend heavily on the continued function of infrastructure provided by 3rd parties. We want mainstream customers to be able to lean on us when they want to, but we won’t exclude those who don’t. How should we think about this flow?
11/Layer 2 is essential for growth. The orders-of-magnitude growth we imagine requires a mix of custodial, off-chain, and second layer solutions that allow people to ‘get off of 0.’ What tech investments can enable seamless, scalable, L2 native support for a hardware wallet?
12/Cash App integration is obvious for us but only part of the solution. A smooth experience likely depends on a custom-built app but it doesn’t need to be owned by Square. We can imagine apps that work without Square and maybe also without permission from Apple and Google. You?
Instead, listen to people with more serious minds, and with intent of making Bitcoin better.
https://twitter.com/jack/status/1400839179513339905
Quote
Square is considering making a hardware wallet for #bitcoin. If we do it, we would build it entirely in the open, from software to hardware design, and in collaboration with the community. We want to kick off this thinking the right way: by sharing some of our guiding principles.
1/Bitcoin is for everyone. It’s important to us to build an inclusive product that brings a non-custodial solution to the global market. Much respect to everyone who has gotten us this far. What are the biggest blockers to get a non-custodial solution to the next 100M people?
2/“No keys, no cheese.” The exchange you used to buy your bitcoin probably attends to your security with good intent, but circumstances may reveal “custody” actually means “IOU.” Deciding to take custody, and security, of your bitcoin is complicated. What’s the #1 problem here?
3/Custody doesn’t have to be all-or-nothing. We can probably simplify custody through “assisted self-custody.” Assisted requires great product design: minimal setup time, relying on existing devices, and end-to-end reliability. How should we be thinking about assisted solutions?
4/Most people access the internet on mobile. Any solution we build must provide an excellent experience when using mobile, despite its shortcomings and liabilities. An uncompromising focus on mobile interaction is likely to include the most people. What are the dangers here?
6/Blend availability and security. Make it easy for customers to keep the funds they want quick access to at their fingertips, spendable with phone-only permissions, while keeping the remainder under tighter, less available but more secure controls. What’s the right balance?
7/Safety is complicated. For any wallet product, we consider safety failures to stem from one of three types of events: availability failures (“sunken gold”), security failures (“pirated gold”), and discretionary actions (“confiscated gold”). What threats are we missing?
8/Today’s recovery mechanisms burn money. Customers have to protect recovery information from damage, loss, and theft and store secret(s). In practice, this is not yet mainstream-ready. We don’t want more passwords on post-its. What best of class solutions should we consider?
9/Are small displays necessary? Expecting mainstream customers to validate details on a small display is *unlikely* to increase security and *likely* to reduce device reliability, increase device cost, and decrease accessibility. Is the product better if a display isn't required?
10/Trust can’t be required. Today, customers depend heavily on the continued function of infrastructure provided by 3rd parties. We want mainstream customers to be able to lean on us when they want to, but we won’t exclude those who don’t. How should we think about this flow?
11/Layer 2 is essential for growth. The orders-of-magnitude growth we imagine requires a mix of custodial, off-chain, and second layer solutions that allow people to ‘get off of 0.’ What tech investments can enable seamless, scalable, L2 native support for a hardware wallet?
12/Cash App integration is obvious for us but only part of the solution. A smooth experience likely depends on a custom-built app but it doesn’t need to be owned by Square. We can imagine apps that work without Square and maybe also without permission from Apple and Google. You?
June 06, 2021, 01:14:38 PM
Cex tokens like BNB cannot be hacked, if hacked then it has a centralized blockchain which is controlled by the binance, so binance can revert such transactions in case of hack attempts.
Revert what? But what will be the point of revert {if that is possible) when all funds have been evacuated?
June 06, 2021, 11:47:35 AM
I think that Elon Musk is starting to reveal his cards, his tricks have become exposed to everyone, he succeeded in deceiving people the first time, but it is difficult to succeed in deceiving them again, Bitcoin is stronger than Elon Musk and from all the great difficulties that crossed its way and it was able to constantly overcome all of that.
Soon we will see new historical peaks for Bitcoin and Elon Musk and his dirty games will go to hell, it is only a matter of time, only those who holding Bitcoin will win and all those idiots who followed and believed Elon Musk will lose.
Soon we will see new historical peaks for Bitcoin and Elon Musk and his dirty games will go to hell, it is only a matter of time, only those who holding Bitcoin will win and all those idiots who followed and believed Elon Musk will lose.
June 06, 2021, 10:13:10 AM
Your post is really confusing, you’re just not going straight to the point. But anyways, from what I have understood here, you’re trying to say that the USD will lose value when investors lose interest in bitcoin?
Well, I don’t think you’re right about that. If investors should stop investing in bitcoin, that wouldn’t have anything to do with USD, USD is not going to lose value, rather bitcoin will lose its value. And as for your last statement about centralized exchanges and decentralized exchanges, it seemed to me like you’re confuse on that. Centralized exchanges can be hacked, and we have seen that happen a lot of times to a lot of them exchanges.
Well, I don’t think you’re right about that. If investors should stop investing in bitcoin, that wouldn’t have anything to do with USD, USD is not going to lose value, rather bitcoin will lose its value. And as for your last statement about centralized exchanges and decentralized exchanges, it seemed to me like you’re confuse on that. Centralized exchanges can be hacked, and we have seen that happen a lot of times to a lot of them exchanges.
June 05, 2021, 10:12:09 PM
You mean that CEXs would want to kill crypto by themselves? You might be a noob in this field who does not understand the nature of cryptocurrency
Who knows? Again it's about trust, you're trust them but I'm not. Since they have full control, of course they can destroy their service and run with investors money. Probably the last hack around 7000 Bitcoin, Binance can still recover the loss... But imagine if all coins were robbed, I doubt their SAFU enough to cover it.
June 05, 2021, 07:55:41 PM
People are losing faith in USD due to Elon Musk and the world economy does not depend on USD today, it depends on cryptocurrency nowadays.
What do you mean USD could run out when the US has $6T budget!!
Elon is becoming more irrelevant day by day sooner the more disappointed individual will just spit on his face for saying something. We don't know if he is acting for himself or someone behind him but I guess what they said about Elon going to be the next Macafee isn't so far-fetched after all.
Elon is becoming more irrelevant day by day sooner the more disappointed individual will just spit on his face for saying something. We don't know if he is acting for himself or someone behind him but I guess what they said about Elon going to be the next Macafee isn't so far-fetched after all.
June 05, 2021, 07:48:36 PM
What do you mean USD could run out when the US has $6T budget!!
Elon is becoming more irrelevant day by day sooner the more disappointed individual will just spit on his face for saying something. We don't know if he is acting for himself or someone behind him but I guess what they said about Elon going to be the next Macafee isn't so far-fetched after all.
Elon is becoming more irrelevant day by day sooner the more disappointed individual will just spit on his face for saying something. We don't know if he is acting for himself or someone behind him but I guess what they said about Elon going to be the next Macafee isn't so far-fetched after all.
June 05, 2021, 07:25:39 PM
Funny how we are talking about Elon everywhere. Now he is against the Fiat as well? What earth I am on guys?
No, this can’t happen man. It’s USD and it’s Gold. They won’t loose their value because they are routinely used and transacted in billions of dollars every day, month and around the clock.
As soon as the clock hits 9:00 market starts rolling up and down, from toilet paper to Vila everything is bought and circulated with USD nominations.
Still think it will loose the value?
It may get inflated (temporary sure) but it can’t loose value completely.
No, this can’t happen man. It’s USD and it’s Gold. They won’t loose their value because they are routinely used and transacted in billions of dollars every day, month and around the clock.
As soon as the clock hits 9:00 market starts rolling up and down, from toilet paper to Vila everything is bought and circulated with USD nominations.
Still think it will loose the value?
It may get inflated (temporary sure) but it can’t loose value completely.
Musk probably losing his mind, this statement is kinda absurd coming from a mind like him.
Anyhow, it seems that he doesn't have that power to influence specially smart investors reading his tweet. It's obvious now that he doesn't have the grasp of world economics and too ego-centric about his TSLA only. For bitcoin, he is totally wrong, BNB? is centralized as others have pointed out.
June 05, 2021, 07:21:36 PM
Which reserves? USD are being printed without any asset pegged to it.
What can I say? As for the US dollar, many people already understand that it, as an international reserve currency, has problems. Leaders of large countries have already announced this. As for gold, I would not write it off. Yes, gold may lose value for some time, but in order to depreciate altogether, this is unlikely to happen. On the contrary, I believe that gold will always have value and, possibly, after the collapse of the dollar, it will rise even more in price. Also, I do not agree that there will be a transition to BNB, as for me there is no reason for this. As for BTC and all cryptocurrencies in general, no one here can know 100% what will happen, but I know for sure that there can be both a large increase and a large drop in prices in the crypto market. In any case, it is now difficult to argue about something, time will tell what and how it will be.
The US dollar could run out soon - Gold can lose value - Elon Musk
The US dollar could run out soon - Gold can lose value - As because Elon Musk is trying to get investors out of the crypto market. If investors lose interest due to Elon Musk and Bitcoin long-run bearish position, the US dollar might completely lose its value and exchanges can create decentralized fiat currencies having greater value than USD. Bitcoin might be replaced by another currency too like BNB as due to hacking attempts, people would like to move on centralized exchange tokens because it cannot be hacked.
The US dollar could run out soon - Gold can lose value - As because Elon Musk is trying to get investors out of the crypto market. If investors lose interest due to Elon Musk and Bitcoin long-run bearish position, the US dollar might completely lose its value and exchanges can create decentralized fiat currencies having greater value than USD. Bitcoin might be replaced by another currency too like BNB as due to hacking attempts, people would like to move on centralized exchange tokens because it cannot be hacked.
What can I say? As for the US dollar, many people already understand that it, as an international reserve currency, has problems. Leaders of large countries have already announced this. As for gold, I would not write it off. Yes, gold may lose value for some time, but in order to depreciate altogether, this is unlikely to happen. On the contrary, I believe that gold will always have value and, possibly, after the collapse of the dollar, it will rise even more in price. Also, I do not agree that there will be a transition to BNB, as for me there is no reason for this. As for BTC and all cryptocurrencies in general, no one here can know 100% what will happen, but I know for sure that there can be both a large increase and a large drop in prices in the crypto market. In any case, it is now difficult to argue about something, time will tell what and how it will be.
June 05, 2021, 02:44:11 PM
The US dollar could run out soon - Gold can lose value - Elon Musk
The US dollar could run out soon - Gold can lose value - As because Elon Musk is trying to get investors out of the crypto market. If investors lose interest due to Elon Musk and Bitcoin long-run bearish position, the US dollar might completely lose its value and exchanges can create decentralized fiat currencies having greater value than USD. Bitcoin might be replaced by another currency too like BNB as due to hacking attempts, people would like to move on centralized exchange tokens because it cannot be hacked.
The US dollar could run out soon - Gold can lose value - As because Elon Musk is trying to get investors out of the crypto market. If investors lose interest due to Elon Musk and Bitcoin long-run bearish position, the US dollar might completely lose its value and exchanges can create decentralized fiat currencies having greater value than USD. Bitcoin might be replaced by another currency too like BNB as due to hacking attempts, people would like to move on centralized exchange tokens because it cannot be hacked.
What can I say? As for the US dollar, many people already understand that it, as an international reserve currency, has problems. Leaders of large countries have already announced this. As for gold, I would not write it off. Yes, gold may lose value for some time, but in order to depreciate altogether, this is unlikely to happen. On the contrary, I believe that gold will always have value and, possibly, after the collapse of the dollar, it will rise even more in price. Also, I do not agree that there will be a transition to BNB, as for me there is no reason for this. As for BTC and all cryptocurrencies in general, no one here can know 100% what will happen, but I know for sure that there can be both a large increase and a large drop in prices in the crypto market. In any case, it is now difficult to argue about something, time will tell what and how it will be.
June 05, 2021, 02:39:47 PM
Dex tokens like BNB cannot be hacked, if hacked then it has a centralized blockchain which is controlled by the binance, so binance can revert such transactions in case of hack attempts.
I don't know this such revert transaction is really easy like you said or very hard to do. What's the difference then between centralized coin and fiat if there's a single entity have a full control about it? None. Assuming revert transaction due to hacker is a good decision, what will happen if they froze your coin or even worst destroy your coin? Of course you'll blame them. This is why trust is a major thing in this space, just like you trusting centralized coin and the developer, you're believing their will be good and wouldn't do anything bad in the future.
But for some people that trusting Bitcoin, they trust it since no one has a full control about the coin. Also the risk if the user didn't be careful and take care what they do with his coin (e.g. send to wrong address, hold in centralized exchanges etc) IMO it's hard to trust your money to a random stranger because scam about money is really a common cases in this world.
June 05, 2021, 11:27:04 AM
The US dollar could run out soon - Gold can lose value - As because Elon Musk is trying to get investors out of the crypto market.
How will Elon Musk try to get investors out of crypto result to US dollar to run out? And how will it cause the price of gold to crash? I think this is a very wrong statement. If investors lose interest due to Elon Musk and Bitcoin long-run bearish position, the US dollar might completely lose its value and exchanges can create decentralized fiat currencies having greater value than USD.
Also this explanation is very wrong. Bitcoin might be replaced by another currency too like BNB as due to hacking attempts, people would like to move on centralized exchange tokens because it cannot be hacked.
Exchanges can be hacked irrespective of the coin listed on the exchange. 
June 05, 2021, 10:26:45 AM
The US dollar could run out soon - Gold can lose value - Elon Musk
The US dollar could run out soon - Gold can lose value - As because Elon Musk is trying to get investors out of the crypto market.
The US dollar could run out soon - Gold can lose value - As because Elon Musk is trying to get investors out of the crypto market.
Do you reall believe Elon would do that? If you talk about elon dragging people to crypto is because he want to earn profit from new peoples moneh who's been hype by him. Also I'm really not convince that Elon got an interest for the technology since for now he's showing that the same as Mcafee so better ignore him sin e if be keeps fudding the market then this is dangerous on market states.
June 05, 2021, 10:14:44 AM
Also, Elon Musk doesn't have so much power that he can create a bear market for a long term.
Yes he does have a huge influence but his influence over the crypto community is getting diminished and people are starting to realize his bogus tweets.
Hence the market will become more mature towards such shillers and act on their own analysis going forward.
Hmmm. I beg to disagree. Elon Musk is the top 2 richest man in the world. He can easily wreck or pump the crypto market at his own will just like what he was doing right now. A few Billion bucks from him can dictate the direction of the market that's why he is always confident on what he is shilling regardless on how garbage it was just like Doge.
History has shown us the worst dumps and the current correction is not that big of a deal when compared to the previous ones.
Even if Elon dumps his bitcoins and wreck the market the market will recover sooner or later.
Nothing lasts forever. Bitcoin won't go to zero. It might takes months or years to recover but after that we will see another ATH.
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June 05, 2021, 10:11:35 AM
Also, Elon Musk doesn't have so much power that he can create a bear market for a long term.
Yes he does have a huge influence but his influence over the crypto community is getting diminished and people are starting to realize his bogus tweets.
Hence the market will become more mature towards such shillers and act on their own analysis going forward.
Hmmm. I beg to disagree. Elon Musk is the top 2 richest man in the world. He can easily wreck or pump the crypto market at his own will just like what he was doing right now. A few Billion bucks from him can dictate the direction of the market that's why he is always confident on what he is shilling regardless on how garbage it was just like Doge.
June 05, 2021, 10:08:51 AM
Funny how we are talking about Elon everywhere. Now he is against the Fiat as well? What earth I am on guys?
No, this can’t happen man. It’s USD and it’s Gold. They won’t loose their value because they are routinely used and transacted in billions of dollars every day, month and around the clock.
As soon as the clock hits 9:00 market starts rolling up and down, from toilet paper to Vila everything is bought and circulated with USD nominations.
Still think it will loose the value?
It may get inflated (temporary sure) but it can’t loose value completely.
No, this can’t happen man. It’s USD and it’s Gold. They won’t loose their value because they are routinely used and transacted in billions of dollars every day, month and around the clock.
As soon as the clock hits 9:00 market starts rolling up and down, from toilet paper to Vila everything is bought and circulated with USD nominations.
Still think it will loose the value?
It may get inflated (temporary sure) but it can’t loose value completely.
June 05, 2021, 10:07:01 AM
The US dollar could run out soon - Gold can lose value - Elon Musk
The US dollar could run out soon - Gold can lose value - As because Elon Musk is trying to get investors out of the crypto market. If investors lose interest due to Elon Musk and Bitcoin long-run bearish position, the US dollar might completely lose its value and exchanges can create decentralized fiat currencies having greater value than USD. Bitcoin might be replaced by another currency too like BNB as due to hacking attempts, people would like to move on centralized exchange tokens because it cannot be hacked.
The US dollar could run out soon - Gold can lose value - As because Elon Musk is trying to get investors out of the crypto market. If investors lose interest due to Elon Musk and Bitcoin long-run bearish position, the US dollar might completely lose its value and exchanges can create decentralized fiat currencies having greater value than USD. Bitcoin might be replaced by another currency too like BNB as due to hacking attempts, people would like to move on centralized exchange tokens because it cannot be hacked.
Now who said you that centralized exchange tokens cannot be hacked ?
When centralized exchange can itself be hacked why not their tokens ? Besides, if an exchange is hacked the hacker can transfer all the coins in it's wallet as well.
Also, Elon Musk doesn't have so much power that he can create a bear market for a long term.
Yes he does have a huge influence but his influence over the crypto community is getting diminished and people are starting to realize his bogus tweets.
Hence the market will become more mature towards such shillers and act on their own analysis going forward.
June 05, 2021, 09:33:08 AM
Dex tokens like BNB cannot be hacked, if hacked then it has a centralized blockchain which is controlled by the binance, so binance can revert such transactions in case of hack attempts.
I don't know this such revert transaction is really easy like you said or very hard to do. What's the difference then between centralized coin and fiat if there's a single entity have a full control about it? None. Assuming revert transaction due to hacker is a good decision, what will happen if they froze your coin or even worst destroy your coin? Of course you'll blame them. This is why trust is a major thing in this space, just like you trusting centralized coin and the developer, you're believing their will be good and wouldn't do anything bad in the future.
But for some people that trusting Bitcoin, they trust it since no one has a full control about the coin. Also the risk if the user didn't be careful and take care what they do with his coin (e.g. send to wrong address, hold in centralized exchanges etc) IMO it's hard to trust your money to a random stranger because scam about money is really a common cases in this world.
June 05, 2021, 08:58:17 AM
Cex tokens like BNB cannot be hacked, if hacked then it has a centralized blockchain which is controlled by the binance, so binance can revert such transactions in case of hack attempts.
Centralised exchanges get hacked. Binance has been hacked in the past and have lost quite a lot.
Propagating messages like these either mean you're misinformed or have no idea what's going on. The upper and working classes that don't do research are fine to pull out of bitcoin/crypto I don't care but if you've invested for the technology rather than getting rich then you should still be happy (lower fees too!) (and if you're just after getting rich then idc).
Propagating messages like these either mean you're misinformed or have no idea what's going on. The upper and working classes that don't do research are fine to pull out of bitcoin/crypto I don't care but if you've invested for the technology rather than getting rich then you should still be happy (lower fees too!) (and if you're just after getting rich then idc).
June 05, 2021, 08:55:51 AM
Centralised exchanges get hacked. Binance has been hacked in the past and have lost quite a lot.
Propagating messages like these either mean you're misinformed or have no idea what's going on. The upper and working classes that don't do research are fine to pull out of bitcoin/crypto I don't care but if you've invested for the technology rather than getting rich then you should still be happy (lower fees too!) (and if you're just after getting rich then idc).
Propagating messages like these either mean you're misinformed or have no idea what's going on. The upper and working classes that don't do research are fine to pull out of bitcoin/crypto I don't care but if you've invested for the technology rather than getting rich then you should still be happy (lower fees too!) (and if you're just after getting rich then idc).
June 05, 2021, 08:28:49 AM
The US dollar could run out soon - Gold can lose value - Elon Musk
The US dollar could run out soon - Gold can lose value - As because Elon Musk is trying to get investors out of the crypto market. If investors lose interest due to Elon Musk and Bitcoin long-run bearish position, the US dollar might completely lose its value and exchanges can create decentralized fiat currencies having greater value than USD. Bitcoin might be replaced by another currency too like BNB as due to hacking attempts, people would like to move on centralized exchange tokens because it cannot be hacked.
The US dollar could run out soon - Gold can lose value - As because Elon Musk is trying to get investors out of the crypto market. If investors lose interest due to Elon Musk and Bitcoin long-run bearish position, the US dollar might completely lose its value and exchanges can create decentralized fiat currencies having greater value than USD. Bitcoin might be replaced by another currency too like BNB as due to hacking attempts, people would like to move on centralized exchange tokens because it cannot be hacked.
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