1348 sats \ 5 replies \ @k00b 1 Sep 2023 \ on: I have an Elon Musk theory... bitcoin
I think Elon doesn’t understand money yet. He works hard enough he tends to come around on things but his businesses are very dependent on fiat credit (as evidenced in his calls for lower interest rates despite record inflation).
I don’t think he’s evil though. He’s likely just powerful and wrong. Harmful but ignorant.
Anyway, I don’t think he intends to do anything special with Bitcoin. He’ll likely do whatever gives him a laugh and seems directionally correct, and the people who run his businesses think will do the best things they imagine will help the business.
X is probably still a fantasy for him but that’s kind of irrelevant. Bitcoin is what X would’ve been if Levichen could’ve figured it out.
It certainly seems that way and Occam's razor would say it's the most likely truth.
On the other hand, it seems odd that one of the richest dudes on the planet doesn't understand money. I like to keep an open mind about the possibility he knows exactly what he's doing and just plays with people on social media like some megalomaniac.
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They’re dependent on Fiat money now but I think that in a world of Bitcoin where borrowing is expensive, his companies would win, Tesla and SpaceX provide very real value over other products in their categories and people would pay for those rather than subpar ones
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You might be right, but both of those categories are heavily subsidized and are therefore likely to not be supported without fiat money printing.
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Indeed I agree with you Elon ignorant for sure! The most depened business on fiat credit is SpaceX
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