Latest Breaking News

pnwmom

(108,955 posts)

22. And Musk, a libertarian, is trying to destroy the dollar

Reply to ansible (Reply #3)

Mon Feb 8, 2021, 11:44 AM

Feb 2021

Last edited Mon Feb 8, 2021, 12:58 PM - Edit history (1)

and replace it with his own preferred, unregulated currency.

No wonder he moved his headquarters from CA to TX.

Edit history

Please sign in to view edit histories.

65 replies

= new reply since forum marked as read

Highlight:

Tesla buys $1.5 billion in bitcoin and plans to start accepting it as payment for products [View all] demmiblue Feb 2021 OP

Ah, bitcoin... All the best features of Pyramid schemes, Ponzi schemes, and chain letters. hunter Feb 2021 #1

lol, it's got a better future than the US dollar at this point now ansible Feb 2021 #3

does it really? LymphocyteLover Feb 2021 #5

Extremely high, currently at $43k and rising by the hour ansible Feb 2021 #12

and in a month? LymphocyteLover Feb 2021 #28

The ONE thing you want from a currency is stability William Seger Feb 2021 #8

that is what I was thinking LymphocyteLover Feb 2021 #27

With arbitrage it isn't a huge problem jmowreader Feb 2021 #55

But that's exactly why trying to use bitcoin as currency is ridiculous William Seger Feb 2021 #56

You get a way to move a shitload of money without the hassle of a wire transfer jmowreader Feb 2021 #59

"Hassle" of a wire transfer or traceability of a wire transfer? William Seger Feb 2021 #60

And Musk, a libertarian, is trying to destroy the dollar pnwmom Feb 2021 #22

Other way around. n/t OnlinePoker Feb 2021 #36

Right! Thank you! n/t pnwmom Feb 2021 #37

It's not tangible, fungible, mandated by government, nor dividend paying bucolic_frolic Feb 2021 #10

The US dollar depends entirely on the strength of this country, and this country is declining ansible Feb 2021 #11

LOTS of problems with that statement. Happy Hoosier Feb 2021 #24

"collective faith" is what gave value to every past bubble. paulkienitz Feb 2021 #38

ALL currency is fiat currency lonely bird Feb 2021 #14

This is not the whole picture. Gold DOES have a LOT of value. colorado_ufo Feb 2021 #30

Of course for engineering and other uses it has value or, rather, usefulness lonely bird Feb 2021 #41

Lol. Perfect JDC Feb 2021 #15

I hope you're right. oldsoftie Feb 2021 #17

If he wants to waste money, isn't it more fun just to blow up some rockets? lagomorph777 Feb 2021 #25

None of these things Cosmocat Feb 2021 #42

Maybe Polybius Feb 2021 #44

Speaking of which -- what happened to Mrs K? She was a drumpf gadfly... soothsayer Feb 2021 #2

They are a family of grifters. demmiblue Feb 2021 #4

Ha! Makes sense soothsayer Feb 2021 #7

They are unprincipled opportunists who would sell their mother for a profit dalton99a Feb 2021 #18

what's the liberal take on bitcoin anyway? LymphocyteLover Feb 2021 #6

It's a way to escape government regulation of currency. That's the correct and liberal take. n/t pnwmom Feb 2021 #13

No, it's a way to escape criminal culpability. PSPS Feb 2021 #33

Absolute wrong take.. blockchain is traceable unlike cash JCMach1 Feb 2021 #49

Sorry, but we're talking bitcoin here. Bitcoin wallets are anonymous. That's why criminals use it. PSPS Feb 2021 #50

The wallet in your back pocket is untraceable AND anonymous JCMach1 Feb 2021 #53

It also consumes huge quantities of electricity to mine, and that will just grow and grow progree Feb 2021 #23

Right-- forgot about that. Thanks LymphocyteLover Feb 2021 #29

A lot of them now are using renewables Cosmocat Feb 2021 #43

A lot of them aren't unfortunately. And solar and wind require huge amounts of concrete and metals progree Feb 2021 #45

My personal liberal take is I wish I would have got in Politicub Feb 2021 #47

As noted above there are some anti-liberal aspects to it but the worst thing is the energy put into LymphocyteLover Feb 2021 #52

Oh, no big deal, global Bitcoin mining just uses as much electricity as Argentina or the Netherlands progree Feb 2021 #63

so messed up, truly insane-- how can this even be stopped? LymphocyteLover Feb 2021 #64

Not a good idea rockfordfile Feb 2021 #9

Why would anyone pay in bitcoin? Happy Hoosier Feb 2021 #16

That's nothing, and I hate to brag, but yaesu Feb 2021 #19

I'll trade your flowers for 5 (yes, five) 3Hotdogs Feb 2021 #26

Hold on there ad121rome Feb 2021 #20

I respectfully disagree Polybius Feb 2021 #62

Seems like the perfect way to pay his Mars slaves sweetloukillbot Feb 2021 #21

i own a little bitcoin that i bought a couple months ago rdking647 Feb 2021 #31

The currency of the ransomware, child porn, and other respectful industries!!!111!! PSPS Feb 2021 #32

I have a little over 1 Bitcoin. Kablooie Feb 2021 #34

this may be the Tesla's all time dumbest move paulkienitz Feb 2021 #35

Hey that won't trigger any red flags bucolic_frolic Feb 2021 #39

Bitcoin is "rat poison squared" - Warren Buffett DinahMoeHum Feb 2021 #40

Apparently Musk has a lot of money to launder -- now that Trumpy is out of the picture JT45242 Feb 2021 #46

Virtually all money laundering takes place with old fashioned cash and real estate JCMach1 Feb 2021 #54

Bitcoin will increase more than dollars in the future so paying for a car with it seems like a dumb cbdo2007 Feb 2021 #48

I really don't understand the "Bitcoin" thing... bluecollar2 Feb 2021 #51

For sending money back to your family, bitcoin isn't a bad idea jmowreader Feb 2021 #61

Will bitcoin buy a Tesla car? I'm always a skeptic when I see Musk involved... MerryBlooms Feb 2021 #57

Hopefully Musk tell everyone to buy Etherium next Polybius Feb 2021 #58

An EV company using a carbon-intensive, coal-fueled cryptocurrency? NickB79 Feb 2021 #65