Is Elon Musk a crypto genius or a crypto noob?
Over the past few years, Elon Musk's tweets have become a nightmare for many crypto enthusiasts. The entrepreneur is constantly manipulating the prices of cryptocurrencies, making the entire market nervous, especially during these tough "bear times".
But what if Musk makes a lot of "noob" mistakes and is not the evil genius running the crypto?
Musk and Nakamoto are one person
You have probably seen such a thesis on the Internet more than once. And even though 3 years ago the billionaire already answered this pressing question, denying his involvement in the creation of Bitcoin, many are still convinced that Elon and Satoshi are the same people.
One of the enthusiasts suggested that the main cryptocurrency on the market could start as a joint project of Elon Musk, Hal Finney, and Nick Szabo. But then he concluded that most likely Musk was simply inspired by the work of these scientists, and then developed the product alone.
On the other hand, given the attention riveted to every action in the life of a billionaire, he would hardly have been able to hide such a fact, even despite incredible efforts.
Criminals use Bitcoins
Perhaps this "noob" argument stands on a pedestal among those that can infuriate any member of the cryptocurrency community. And it was he who was brought up by Musk in one of the Tesla podcasts. Elon stated that he likes the concept of Bitcoin, but at the same time, he is very worried about his role in illegal transactions.
Each transaction involving BTC will invariably remain in the Bitcoin blockchain, so we expect that such arguments will no longer be considered even indirect evidence of the “unreliability” of cryptocurrencies. The DarkSide hacker saga has demonstrated that anyone can be found. There would be a desire.
Also, do not forget that people have been using fiat in illegal business for hundreds of years. Consequently, its volumes significantly exceed Bitcoins. And all cryptocurrencies taken together are unlikely to be able to "overtake" cash in terms of the total "turnover" in the criminal world.
There is a strong feeling that Elon Musk was never able to figure out the "environmental friendliness" of Bitcoin for himself.
When Tesla invested 1.5 billion in BTC, the head of the company for some reason was not very worried about this aspect. However, after a few months, the acceptance of BTC for paying for electric vehicles was discontinued due to the “non-environmental friendliness” of the main crypto asset. At the same time, on Twitter, Musk agreed with Jack Dorsey's argument that Bitcoin was the reason for the emergence of many new sources of "clean energy."
Such dualism annoys many crypto enthusiasts and makes them think that Musk himself does not know if Bitcoin mining is causing real damage to the environment, but is banally playing an “eco-protector” to the public.
In addition, hardly anyone seriously believes that such a large-scale corporation as Tesla could invest in something without studying the environmental aspect. After all, it is they who are primarily speculated by all the creators of electric vehicles. If you wish, you can find thousands of materials on the web about how and where resources for Tesla batteries are obtained, as well as about their "pseudo-environmental friendliness".
Generating meme-based tokens and constantly popularizing them on social media is fun. But the fun recedes when the project turns into a mania, and its “adherents” argue that DOGE is much more valuable and more decentralized than Bitcoin. Unfortunately for Musk, however, Dogecoin is a few heads more centralized, both in terms of node count and supply distribution.
Think for yourself, how is the system, the issue of tokens in which can be tens of thousands per minute, different from fiat? In contrast to Musk's favorite, whom he regularly mentions on Twitter, which has behind his back only cultural value as a meme, Bitcoin has a real price at least due to the limited supply of coins.
In addition, you can never discard the possibility of personal interest in the growth of the rate of a particular cryptocurrency on the part of a billionaire. After all, they do not like to lose their fortune, but they love to earn it. Sometimes this requires creating a public stir on social media. Doesn't it look like anything?