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

[Clement Kaliyar]

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I'd say that the fact that his own company invested in BTC is enough to think that he is indeed manipulating markets to his own advantage. Especially since he now knows that people do take action according to his tweets.

Even i was of the opinion that the tweets of Elon Musk are for his amusement to tease the cryptocurrency market as he was always trolling everyone with Doge coin and once the news came out that his company invested $1.5 billion in bitcoin it is a completely different story as he is taking advantage of his bargaining power with his tweets.

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[stomachgrowls]

Anyone who is hurt/affected by this tweet because Elon says so that bitcoin is BS is totally biased, what he says is actually, somewhat, true. For example, when sending bitcoin that costs $$ just for fees which probably will mark to anyone who will just try accepting and sending bitcoin.

When it comes to fee issues or talks then we cant really deny that Bitcoin is really on that downward view or impression towards it because if we do try to compare against fiat payment fees then we would really able to tell the difference but the truth that we cant just ignore that Bitcoin does have advantage on several angles.

When it comes to sentiments came from those people then its not something to be shock on because those could either be positive or negative from time to time.

People who had been expecting too much from Musk would definitely get stressed nor shocked on what he had mentioned out about BS thing.

[Vishnu.Reang]

Firstly most of the countries are not adopting bitcoin. Secondly bitcoin is a decentralized crypto currency. It needs more time to compare with fiat currency.

First of all, the countries don't need to adopt Bitcoin. For my part, I don't expect any of the UN member states to replace their national currency with Bitcoin. And we don't need that. What we need is acceptability from the governments, and not adoption. And secondly, I don't think that Bitcoin is competing with fiat currency at this point. The competition is with other assets, such as equities, mutual funds and bullion.

[isaac_clarke22]

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It's what celebrities are.
Now I expect many people that will now sell their coins just because a celebrity claimed that it is "almost BS".
Well they'll overlook the "almost" but the BS is what they're gonna read.
I expect many would sell their BTC, but hey let's see who are the real hodlers like us.