Jun 4 2021, 08:04 PM
QUOTE(WhatMan @ Jun 4 2021, 03:18 PM)
It doesn't matter if its him or Tesla. The point is a single person shouldn't be affecting the supposedly decentralized currency like Bitcoin.
If Elon/Tesla say fiat/gold/oil is "terrible" with a single tweet, nothing will happen those commodities in terms of value.
He tweet the same thing about Bitcoin, the whole crypto community going into meltdown. Already got people in /k triggered by Elon asking him to "STFU".
It is suppose to be decentralized. But, the current miners left with the computational power to mine bitcoin is mainly China and US based. It is not just Elon, China and USA also said some shit post on cryptocurrency over the past 1-2months, so there you have it.If Elon/Tesla say fiat/gold/oil is "terrible" with a single tweet, nothing will happen those commodities in terms of value.
He tweet the same thing about Bitcoin, the whole crypto community going into meltdown. Already got people in /k triggered by Elon asking him to "STFU".
Plus the appearance of so called "Institutional investor", so called big whales? they will and actively try to "Short" plus sell into their strength, basically creating a blood bath... if you did not profit or get out before the drop....the consideration to sell will only get stronger.
The latest Jan - Apr rise, can also be partially attributed to Elon being bullish, investing some Tesla money in bitcoin, and when he activated " liquidity card in his play book" , that and he stop accepting bitcoin for payments, to be honest, he probably have teams of people who already saw the over heating rise.
The, it uses too much fossil fuel generated electricity... that is just the icing.
Plus, Elon being Elon....at times it will do good....other times...it will do bad. If cryptocurrency as a whole strives to be greener, it will be a good thing.
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