Ain’t gonna happen, Musk. Governments will not give up the power of the purse. They will literally burn crypto to the ground before that happens. Governments have agencies to enforce their will. Crypto has...what?
fake ape is Musk.
Magic vs electrons. Pixie dust for everyone.
Maybe that will help stop or slow down the free fall that’s happening in crypto. Bitcoin has gone from almost $60k to just under $40k in two weeks.
Glad I needed tractor tires and cashed out $300 a month ago.
I started with $250 and would probably be below that now. That $250 turned into $492 at one point and was $434 a day later when I pulled $300. After fees, that left $115 which went up to $136 but sits at $88 this morning.
Can’t complain though. Even if that $88 disappears, I made $50. Of course part of me wishes I’d have cashed out every penny when it was $492.
Musk made about half a billion dollars by meeting contractual goals of profitability. He did it, but not from selling cars. He did it by selling State tax credits to other car companies and his Bitcoin gamble profits.
Those folks that thing fiat money is riskier than cyber currencies should consider this: Bitcoin went down about 50% from it’s most recent high based on statements from Musk and from the Chinese government.
Musk tanked bitcoin when he announced Tesla would no longer accept it. He did it on purpose.
Like digits on a computer are more real that fiat money? HA!
All money is fiat money, yes even gold, people quibbling over different types of fiat are just showing they know no history.
Yet he stopped its use at Tesla.
A government could issue currency backed by gold with security costs fully covered by merchant card fees.
The main problem is lack of enough gold to run a modern economic world.
The Euro is a well-managed fiat currency.
US laws need to be changed so I can use Euros instead of dollars.
The Chinese government hates the way the dollar is abused by the US government.
Hopefully, the Chinese can force the proper financial management of the US government by threatening to cut off the restocking of Wal-Mart and Amazon.
There is the problem of making banks pay interest rates that keep up with inflation.
The madrasa-taught, bank administrator-raised Obama cut bank interest rates to near zero, where they have remained.
Perhaps a bank could be formed that would pay interest from its merchant card fees.
The Euro has gained about 10% in a year over the dollar.
The British pound & Chinese yuan have gained about 15% in a year over the dollar.
I like Musk. Well, I guess it would be more correct to say “I like where he’s investing his money. Space X is amazing”. But at the same time, I see his comments here as straight up market manipulation. I’d bet he shorted BTC before going on SNL, so he made money on the plunge. Then, when it hit the “bottom” after his remarks, he buys a bunch, comes out and makes another statement that causes it to shoot up, and he makes money again.
I wish this guy would just shut up.
If I owned Tesla stock I would be wondering what kind of immature narcissist was running the company.