Elon Musk has angered the Bitcoin community with a series of uneducated tweets. Then he responded to a couple of others that only made things worse.

So, is Elon right?

Note: This is not financial advice. You should consult your accountant or your financial advisor for any decisions you make.

No.

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Is Elon an idiot?

Also no.

Bitcoin is hard to grok and as Michael Saylor says, you need to put in your 100 hours of research, which Elon Musk, running 5 companies and begging for government handouts clearly has no time to spare.

This video from Trader University sums up what happened and why this has triggered and disappointed a lot of bitcoiners.

In short, Elon Musk is going through the exact hero’s journey that every single bitcoiner goes through. The doubt, the blockchain size, the energy consumption FUD, the currency usability, everything. I went through the same thing, I thought Bitcoin was too hard to use, too slow, I liked Bitcoin Cash at first, I thought Bitcoin should be fast and be able to handle internet transactions, etc. The only difference is that I don’t have 50 million fans. Just like Ben Affleck who sent a sleazy message to a young girl on a dating app, it only became a thing because he’s a public figure. The same thing happens with 100 million guys every day and nobody cares.

Elon took his bitcoin journey in public. And because he’s a very intelligent person, he obviously thinks he can fix it just like the other 6000 developers that gave birth to shitcoins. The backlash was not good. Tesla and Elon’s reputation was tarnished. I certainly won’t be buying any Tesla for me, and a lot of bitcoiners have declared the same.

Saifedean Ammous talks about how Tesla and Elon’s companies in general are a sick byproduct of a fiat system, companies that produce dreams and fancy gadgets that can only survive by government handouts and endless amounts of debt.

“We went into a detailed analysis of Elon Mush’s government-funded toy cars for rich people in this seminar podcast:” https://saifedean.com/podcast/49-can-electric-cars-save-the-planet/

All of the arguments Elon has have been discussed to death. The problem is that, like Trader University says, he has revived the FUD for all fronts because of his massive influence.

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