Post
Topic
Board Economics
Re: The Downfall of TSLA
by
amishmanish
on 21/05/2021, 07:04:28 UTC
~snip
Every day the guy is pushing the envelope of whats possible for humans. Antagonizing that community doesn't really match up to the values of Bitcoin.

how I see it, this is the real issue
Elon is an innovator, he heard about Bitcoin innovation, get interested, but it came out that Bitcoin innovation is finished, and Bitcoin is pretty much unchangeable at the time being
for Elon, innovation is the state of mind, and it does not seem as he would stuck with unchangeable things, or be interested in it, no matter how hard this innovation is changing the world in other means

nevertheless, I do not think that he is done with cryptocurrencies
I think he failed to grasp the political and economic argument behind the soundness of Bitcoin and has only yet focussed on the technical part.

This is why he jumped on the wagon without being clear about why the community has stood behind Bitcoin for so long and why do we need PoW from a coin with no central leadership, open development and a history of securing billions in transaction. The comment about 10X blocksize and blocktime was so un-informed that I couldn't believe it was Musk. We all know he doesn't do everything by himself but he is behind a lot of design activities in SpaceX. This just confirms though that being an expert in rockets doesn't make you an expert on cryptography. A lot of newbies think so.

It was funnily evident on one noobs' reply to Adam Back on Twitter asking him, "Do you think you know more about crypto than Elon?". The community was like, "Duh, yeah he does".