The Musk Myth

If you're a bitcoin hodler or trader, the flash-crash we experienced last night won't have escaped your attention: bitcoin's price dropped from 57,000 dollar to 45,000 dollar within two hours. Needless to say that a lot of weak hands got eliminated or liquidated in the ensuing wave of panic-sells...

This crash was caused by one single Tweet from Elon Musk; this shows how young and volatile this market still is, and how one single billionaire can cause such a fragile market to lose several billions of dollars in no time at all. All bitcoin hodlers, myself included, were happy when Tesla announced that they bought 1.5 billion dollars worth of bitcoin, and that they would now allow their electric cars to be paid for in bitcoin as well. Last night mr. Musk tweeted that Tesla changed their mind on the latter; their cars will not be sold through bitcoin transactions anymore. At least, not until bitcoin finds a more energy efficient way to mine coins; that was the reason, bitcoin is just too harmful for the environment...

Well, you and I, and I believe Elon Musk as well, know that this is a load of BS; if you've read my post Greenwashing, you know why this is BS. One of two things happened: either Tesla and Elon Musk really don't understand the benefits bitcoin brings to the whole green revolution, or they caved to public pressure. As you may know, there's an aggressive propaganda war being waged against bitcoin with the claim that bitcoin destroys the environment. This is just how it goes: governments and central banks just don't want bitcoin, or other crypto-currencies they don't control themselves, to succeed. Just watch how central banks around the world are now scrambling to make and release their own blockchain-based electric money. Never ever fall for that; blockchain-based currencies under control of the government or central banks is George Orwell's worst nightmare come true...

However, I find it a bit much how the online cryptoverse has now suddenly turned against Musk. Sure, be against Musk, but not for this silly reason, not just because he tanked your favorite coin. He also pumped your favorite coin first, remember? If you want to get mad at Elon Musk, there are countless reasons to do so, valid and urgent reasons. Musk is not your friend, he's not the real world Iron Man, he's not a genius, he's not an inventor, and he's certainly not our savior who will turn humankind into an intergalactic species. Musk's project to leave Earth and colonize Mars, is not the project of a savior, but one of a coward who wants to escape and leave the rest of us to suffer on a highly polluted planet. Or do you believe he's going to take you or your children or grandchildren with him? No. Musk is a CEO, a business man with all the sociopath traits so commonly observed in that special class of people. He doesn't care about you or the planet. Watch the below linked video for an overview of how much this man is not your friend, not worthy of your praise or adulation.

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