Elon Musk and Bitcoin: Toxic Relationship

On July 8th, Max Keizer and Stacy Herbert held an Elon Musk-inspired gig in Austin, Texas. Cleverly called “F * ck Elon”, the party, which includes a large number of Bitcoin (BTC) maximumists, is sure to cause a sensation. Max Keizer is known for many things, but restraint is not necessarily one of them.

While we can discuss the merits of such a provocatively titled party, Musk’s split is certainly undisputed. Earlier this year, the Bitcoin community – including the maximalists – expressed their support for Musk. He saw value in bitcoin and bitcoin saw value in Musk, one of the most influential people in the world. In many ways, it was a match made from heaven.

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However, when the 49-year-old announced in early May that Tesla would no longer accept Bitcoin as a means of payment, Musk’s popularity with Bitcoin loyalists quickly faded. Now many people look at him suspiciously; others, like Keizer, regard him with contempt, hence the party’s colorful title.

One wonders what is the point of the “F * ck Elon” event? After all, we’ve been told that Musk is no longer influencing the crypto market as it did in May, what was once an incredibly powerful guru has now become a powerless “shill”. While the authors make valid arguments, it is important to remember who Musk is and, more importantly, what he can do. Bitcoin abounds in its crosses.

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Three weeks ago, Tesla’s CEO announced that the company plans to accept Bitcoin if the clean energy goals are met. In other words, Bitcoin and Musk have unfinished business. Given that the future of Bitcoin seems inextricably linked to clean energy, the future of Bitcoin also appears to be inextricably linked to Musk.

At the moment, its impact on Bitcoin seems minimal, but there is every reason to believe that this will change. The form is temporary, but the layer is permanent. And Musk is a top notch manipulator. Dogecoin (DOGE) is a fun coin, but it doesn’t seem to have a legitimate future. On the other hand, Bitcoin seems to have a very bright future. DOGE is fun to mess with, but if you’re serious about crypto, marry Bitcoin.

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Is Musk Poisonous?

By definition, a toxic relationship includes the personalities of Jekyll and Hyde in which at least one of the partners alternates between hot and cold. Now enter Elon Musk. One day he bowed his head and paid his respects to the Chinese Communist Party, the next day he called a hero on Twitter a pedophile. Musk is a capricious force. He is the only one that can keep up with Bitcoin’s inherent volatility.

In a toxic relationship, burnout is the norm. Musk is a tired influencer and there is reason to believe that he will continue to drain humanity, especially those in the Bitcoin community. Toxic relationships also mean cheating. As a highly intelligent person, Musk is also prone to exaggeration and false promises. Since 2016, Tesla customers have been paid for a highly regarded self-driving function that actually doesn’t exist.

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However, there is only one problem and it is very important. As Andrew J. Hawkins on The edge The complete self-driving software Musk advertises, writes, “it does not allow Tesla cars to drive without input from the driver”. In other words, self-driving cars are incapable of driving themselves. That doesn’t look good for either Tesla or Musk. Whether or not he was aware of his deception, Tesla customers were sent on an expensive ride. Has Musk’s behavior become more erratic as General Motors and Ford are busy learning from Musk’s mistakes and building superior electric cars? Don’t bet against it – Bitcoiners watch out.

A nimble businessman, not an inventor

Musk is not an inventor. He is a nimble businessman willing to say or do anything to generate interest. Although he is clearly a talented man, he lacks restraint. Musk’s words are not his words. In fact, the concept of truth seems very malleable in Musk’s world.

In a recent article, Peter Chawaga discussed a kind of post-Elon world in which Bitcoin frees itself from the interference of entrepreneurs. Chawaga states, “No individual, no matter how influential in their field, is more important than the network.” In the same paper, Stacy Herbert said above:

“Elon and other fiat billionaires must learn that you don’t fix bitcoin, bitcoin fixes you.”

Has Bitcoin really “fixed” Elon? Can Elon really be “fixed”? Bitcoin may have won this battle, but I believe the battle is not over yet. Of course, it doesn’t have to be a fight. In the future, Bitcoin and Musk will most likely have a harmonious relationship. However, considering Musk as one of the most capricious celebrities in the world, the relationship would likely turn out to be more toxic. Yelling “F * ck Elon” can be euphoric, but it won’t work. Remember who you are dealing with: An influential billionaire with a “F * ck You” personality.