Elon Musk on Bitcoin: "Bitcoin is almost as bs as fiat money"

[Dutchyyy]

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!

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.

[buwaytress]

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?

[AmoreJaz]

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

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.

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...

[aesma]

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.

[eaLiTy]

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!

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 .

[finaleshot2016]

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.

[Searing]

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

[bbc.reporter]

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.

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.

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.

[Alamin1444]

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.

[Mpamaegbu]

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

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.

[hulla]

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.

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."

Elon mask will come to Crypto sooner or later cause every big investors is coming to Crypto like Microstrategy.

He already a crypto enthusiast but mostly support Dogecoin.

[k@suy]

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.

[Hydrogen]

#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.

[scottsanderman12]

Keep calm and follow Elon

[Altcoinsintel]

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.

[OscarDavidson]

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  

[aesma]

#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.

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.

[bbc.reporter]

#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.

#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.

[mariah.sadio]

This person may really send crypto to the moon

[suzanne5223]

A few more similar statements from Elon and bitcoin will double in price!

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.