Elon Musk may secretly want Bitcoin Cash.

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Avatar for francis105d1
2 years ago

I would consider Elon Musk, a knowledgeable person. I don't think he has been clueless about cryptocurrencies for a while, but I could be wrong. It could end up being that Elon Musk may know a lot about running a company and even funding some of the most successful companies, and even all of that, in the end, may not be enough. It could be that Elon doesn't understand cryptos or that maybe he has different points of view because of his wealth.

Elon knows the Bitcoin Cash name, and he knows it can make a $10 transaction possible because he admitted it when Kim Dot Com tweeted it to him by replying fair point. He acknowledges the Bitcoin Cash name in that tweet. He says that Tesla won't accept Bitcoin as payments because of environmental reasons, which has also been debunked in the past. Miners do use solar energy and many other renewable sources. Still, miners are just another client of the electric grid, so it is the producer of electricity to produce renewable energy, not the consumer. Yet, people like Elon Musk want the miners to solve the problem of making energy just because they consume it. That will be like saying to those who use gas cars to fix the problem of emotions.

It is up to the car manufacturers to produce carbon-neutral cars, not those already driving gas cars. If you want society to use vehicles that don't consume gas, car manufacturers must build one. Come to the electric car, the car that Elan Musk sells. He is selling you the electric vehicle. Still, he is not producing the electricity so that the electric plan could be using good old coal, and so you haven't saved the environment not even a bit because you passed from using gas to using coal. With gas power vehicles, the emissions will be all over the city; meanwhile, with coal-electric plants, the emotions will be outside the city or at the plant location where maybe you can introduce the carbon back into the earth.

Because of the way Elon Musk tweeted, he seems to be liking Dogecoin because it can process many transactions at a fraction of the cost of Bitcoin, which means he is trying to improve Dogecoin or just trolling the whole crypto community. Still, Bitcoin Cash does a better job than Bitcoin when it comes to transaction costs, and it does it fast too. It looks like Elon Musk is looking for the next Bitcoin, and it seems like he thinks that Dogecoin is the next Bitcoin to save the environment. He even triggered the co-creator of Dogecoin to tweet about him.

Would Elon find his sweetheart cryptocurrency at the end of the day? I don't know that but what I know is that he knows the Bitcoin Cash name. The Dogecoin propaganda is probably just destruction to buy other altcoins so that people dump at his command other altcoins, but he is manipulating the markets. That's for sure, and where are the FCC and SEC when you need them. Oh, I forgot they are here to protect you only when their fiat monopoly money is at risk.

And also, that is a possibility since Elon is already wealthy. He stands to lose it all if an actual peer-to-peer currency is adopted because his billions in US dollars will become worthless. Like him, many rich will lose the ability to borrow newly printed money at 0.75%. He doesn't have to pay any taxes on borrowed loans. Meanwhile, you pay for it at the local store with higher prices at the grocery store and gas pump.

The whole mining could be just another attack vector on Bitcoin as a peer-to-peer idea and currency. In reality, the government, banks, and the ultra-rich like Elon Musk, will lose the most if you and I start using Bitcoin to pay for our bills and services and receive our salaries in deflationary cryptos. The rich and powerful will be the bigger losers of all, and as such, it doesn't surprise that the whole government and the rich could be playing this narrative to shut down the peer-to-peer vision of Satoshi Nakamoto.

And by the way, the only actual Bitcoin is Bitcoin BCH because it is the one that works, and it doesn't compromise on decentralization because 32Mb blocks are the sweet spot for the price of hardware to run a full node. Exciting times ahead if everything holds your satoshis because market manipulators want to get your valuable satoshis cheap. They don't want you to get into the future city Citadel with your 0.01 BCH.

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2 years ago

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I wonder what will happen to the BCH community if Elon Musk will dive into it. I mean, there are surely positive benefits, but perhaps there are downsides too .

$ 0.01
2 years ago

You bet he likes to pump and later dump look at BTC and now even the Twitter deal is now in the line, I guess he realizes that he was paying too much for it. But who knows we will have to see it to observe the final results.

$ 0.00
2 years ago

It might be possible, as everyone is concerned with their own means to achieve the most of profit. f

$ 0.01
2 years ago

If he takes bch as next bitcoin and takes the good sides of it then it will be great for BCH crypto.

$ 0.01
2 years ago

Those are profound thoughts and opinions from you my dear friend, Francis. Just based on my personal opinion and not really an accusation unto him , but, maybe, he tends to manipulate some things for a vested interest and probably Elon may secretly want Bitcoin Cash, too. How would you imagine the world when Elon Musk would take over Bitcoin Cash? As of yesterday, there was a breaking news as I had read from Financial Times that Elon Musk puts $44 bn Twitter private as temporarily onhold. He is an intelligent, brilliant, smart, clever, and all positive ang highly remarkable traits, surely all your points really make sense my friend.

$ 0.03
2 years ago

I don't trust people with money because many of the times they like to manipulate things to their best interest and at times say one thing but do the opposite

$ 0.00
2 years ago

How could it be when Elon Musk hold the crypto world. Watch out for the next chapter.

$ 0.01
2 years ago