The US dollar could run out soon - Gold can lose value - Elon musk

[DashingAgent]

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.

[jackg]

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).

[DashingAgent]

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).

[Jawhead999]

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.

[pawanjain]

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.

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.

[so98nn]

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.

[Coin_trader]

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.

[pawanjain]

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.

[Taskford]

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.

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.

[Charles-Tim]

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.

[DashingAgent]

if they froze your coin

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

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.

[ven7net]

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.

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.

[DashingAgent]

Which reserves? USD are being printed without any asset pegged to it.

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.

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.

[Kemarit]

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.

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.

[cabron]

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.

[DashingAgent]

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.

[Jawhead999]

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.

[dezoel]

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.

[yhiaali3]

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.

[palle11]

the US dollar might completely lose its value

Op my concern here is that, do you think the outcome of cryptocurrency will make dollar to lose its value ? I think that may not be a good reason for the outcomes of either bitcoin or altcoins to make dollar value to be lost because cryptocurrency is relatively young and dollar have existed far before crypto. Crypto is just 10 years plus , which means dollar have been paired with so many other currencies, commodities, gold and others. Without cryptocurrency, dollars value won't be lost on the longtime.

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?