Elon Musk and Bitcoin: a toxic relationship

On July 8, Max Keizer and Stacy Herbert hosted a show inspired by Elon Musk in Austin, Texas. The event was aptly named “F*ck Elon” and included a large amount of Bitcoin (Bitcoin) Extremists, definitely noisy. Kaiser is known for many things, but restraint is not necessarily one of them.

Although we can debate the merits of such a party with a provocative title, Musk’s split is certainly not worthy of debate. Earlier this year, the Bitcoin community—including extremists—was Musk’s vocal supporters. He saw the value of Bitcoin, and Bitcoin saw the value of Musk, who is one of the most influential people on the planet. In many ways, this is a match made in heaven.

related: Tesla, Bitcoin and the crypto space: Does Musk’s performance continue?Expert answers

However, in early May, when the 49-year-old announced that Tesla No longer accept bitcoin As a payment method, Musk’s popularity among loyal Bitcoin users quickly faded. Now, many people doubt him; others, such as Keiser, dismiss him, so they have colorful parties.

Some people want to know, what is the significance of the “F*ck Elon” event?After all, we were told that Musk is no longer influences The cryptocurrency market is just like he did in May. The once very powerful master is now a helpless “stand-in”. Although the author puts forward valid points, it is important to remember who Musk is, and more importantly, what he has the ability to do. Bitcoin is his goal.

related: Expert answer: How does Elon Musk affect the crypto space?

Three weeks ago, Tesla’s CEO announced, The company plans to accept Bitcoin Once the clean energy goal is reached. In other words, Bitcoin and Musk have unfinished business.Considering that the future of Bitcoin seems inseparable link With clean energy, the future of Bitcoin seems to be inextricably linked with Musk.

Currently, his impact on Bitcoin seems minimal, but there is every reason to think that this situation will change. Form is temporary, but class is eternal. And Musk is a first-class manipulator. Dogecoin (dog) Is an interesting coin, but it does not seem to have a legal future. On the other hand, Bitcoin seems to have a very bright future. It’s fun to mix with DOGE, but if you are serious about cryptocurrency, you will marry Bitcoin.

related: No, Musk, don’t blame Bitcoin for dirty energy-the problem is deeper

Is musk poisonous?

According to its definition, a toxic relationship include The personality of Jekyll and Hyde, at least one of them has a partner switching between hot and cold. Now, enter Elon Musk.One day he bowed To pay To pay tribute to the Chinese Communist Party, the next day he Make a call Heroic pedophile on Twitter. Musk is an unstable force. He is the only one who can match the inherent volatility of Bitcoin.

In toxic relationships, exhaustion is the norm. Musk is an exhausting influence, and there is reason to believe that he will continue to exhaust mankind, especially in the Bitcoin community. Toxic relationships are also synonymous with deception. As a very smart person, Musk is also easy to exaggerate and make false promises.Since 2016, Tesla customers have been Billing For self-driving functions that are widely known but do not actually exist.

related: The tension between cryptocurrency and Elon Musk: ambassador or responsibility?

As Andrew J. Hawkins (Andrew J. Hawkins) in edge writeThe fully autonomous driving software promoted by Musk “will not allow Tesla cars to drive automatically without driver input.” In other words, self-driving cars do not have autonomous driving capabilities. This is not a good face for Tesla, nor is it a good face for Musk. Whether his deception was intentional or unintentional, Tesla’s customers were taken on expensive journeys.With GM and Ford busy Learn Judging from Musk’s mistakes and the manufacturing of outstanding electric cars, will Musk’s behavior become more weird? Don’t bet on it-Bitcoiners need to be careful.

Fickle entrepreneur, not inventor

Musk is not an inventor. He is a fickle entrepreneur, willing to say or do anything to arouse interest. Obviously he is a smart person, but he lacks restraint. Musk’s words are not his bonds. In fact, in Musk’s world, the concept of truth seems to have a strong plasticity.

In a recent article, Peter Chavaga discuss In a post-Elon world, Bitcoin is free from the intervention of entrepreneurs. Chawaga pointed out that “no one person, no matter how influential they are in their own field, is more important than the Internet.” In the same article, the aforementioned Stacy Herbert said:

“Elon and other legal billionaires need to know that you are not fixing Bitcoin, but Bitcoin is fixing you.”

Did Bitcoin really “fix” Elon? Can Elon really “fix” it? Bitcoin may have won this battle, but I think this war is far from over. Of course, this is not necessarily a war. In the future, Bitcoin and Musk are likely to live in harmony. However, considering that Musk is one of the most unstable celebrities on the planet, this relationship may become more harmful in nature. Screaming “F*ck Elon” may be a catharsis, but it won’t be effective. Remember who you are dealing with: an influential billionaire with a personality of “F*ck You”.

This article does not contain investment advice or recommendations. Every investment and trading action involves risks, and readers should research on their own when making a decision.

The views, thoughts, and opinions expressed here are only those of the author, and do not necessarily reflect or represent the views and opinions of Cointelegraph.

John McGlion Is a researcher and cultural commentator. His work has been published in Bitcoin Magazine, New York Post, Sydney Morning Herald and National Review.