Bit coin musk
Musk, known for his cryptocurrency endorsements, had in October, reiterated his holdings which are limited to Bitcoin , Ethereum and Dogecoin. He closely watches the cryptocurrency space and tweets his observations regularly. In an interview with Time , the Tesla and SpaceX chief said when it comes to transactions per day, Dogecoin is a better currency. At least at a space level, it is suitable as a store of value. The entrepreneur, who overtook Amazon founder Jeff Bezos this year to become the world's wealthiest person, said while Dogecoin could be inflationary, at least it is a fixed number as opposed to Bitcoin. Naming Musk as its person of the year , Time cited his embodiment of the technological shifts but also troubling trends reshaping people's lives.
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- Musk 'trolling' puts brakes on bitcoin's rebound
- Elon Musk wants Bitcoin to become environmentally friendly. Can he convince the crypto's devotees?
- Bitcoin tumbles below $45,000 after 3 months after Elon Musk implies Tesla may sell crypto
- New online game explores next big cryptocurrency players including Elon Musk, Björk and Tom Brady
- Why Elon Musk's bitcoin U-turn caused a crypto crash
- This Knockoff Coin Named After Elon Musk's Pet 'Marvin' Is Up Over 70% Today
- Dogecoin is better than Bitcoin for transactions, says Elon Musk
- Elon Musk says dogecoin is better to buy things with than bitcoin
- Tesla Billionaire Elon Musk Reveals How Much Bitcoin He Owns
Musk 'trolling' puts brakes on bitcoin's rebound
He's invested in it, along with bitcoin and ether, he said in October. But to Musk, dogecoin has an advantage over bitcoin and other cryptocurrencies: He sees dogecoin as the best cryptocurrency to transact with. Musk added that bitcoin is more suitable as a store of value, which is why its investors want to hold onto it and not sell it or use it for transactions.
Dogecoin, on the other hand, is a currency that "encourages people to spend, rather than sort of hoard as a store of value," he said. However, while bitcoin supporters would agree that the asset is a store of value , they'd also argue that it's designed to be a sound peer-to-peer financial system and could be used for transactions, citing situations like El Salvador making bitcoin legal tender.
And although Musk is clearly bullish on cryptocurrency, he doubts that it will replace fiat. But, according to Musk, "there are advantages with crypto relative to fiat, in that fiat currency tends to get diluted by whatever government it is. It ends up being a pernicious tax on people, especially those who have cash savings with dilution of the money supply. Nonetheless, financial experts view cryptocurrency as a volatile, risky and speculative investment.
In turn, it's recommended to only invest what you can afford to lose. Sign up now: Get smarter about your money and career with our weekly newsletter. Don't miss: Elon Musk on his crypto portfolio: I only own bitcoin, ether and dogecoin. Skip Navigation. Shannon Smith, Contributor. Patrick Pleul picture alliance picture alliance Getty Images. VIDEO The News with Shepard Smith.
Elon Musk wants Bitcoin to become environmentally friendly. Can he convince the crypto's devotees?
Camila Domonoske. Musk tweeted on Wednesday that Tesla would no longer accept cryptocurrency Bitcoin for car purchases. Months after Tesla embraced Bitcoin, CEO Elon Musk said on Wednesday the auto maker would no longer accept the cryptocurrency for car purchases due to its environmental impact. Bitcoin is very energy-intensive. The "coins" are created through a process called "mining," in which powerful computers solve difficult math problems.
Bitcoin tumbles below $45,000 after 3 months after Elon Musk implies Tesla may sell crypto
Want to discuss? Please read our Commenting Policy first. Read more: SpaceX to launch dogecoin-funded mission to the moon. He said the company is looking at other cryptocurrencies that use less than one per cent of the energy Bitcoin does. According to CoinMarketCap , Bitcoin remains the highest ranked cryptocurrency by market value. There are currently more than Miners use these computers to solve complex mathematical puzzles to create the Bitcoin. In fact, according to the U.
New online game explores next big cryptocurrency players including Elon Musk, Björk and Tom Brady
Bitcoin staged a powerful rally to start off , punctuated by tweets from the billionaire Tesla founder Elon Musk that sent prices soaring for the joke token dogecoin. Were they fads or a technological revolution? Warning: There will be volatility. It was such a powerful and explosive rally — and, yes, cryptocurrency volatility is the norm — that not everyone was convinced the rally could be sustained.
Why Elon Musk's bitcoin U-turn caused a crypto crash
The car maker's boss Elon Musk said recently that the electronic currency was on the verge of becoming more widely accepted. It comes 10 days after Tesla chief executive Elon Musk gave a boost to the electronic currency's price by adding a " bitcoin" tag to his Twitter profile page. He removed the tag a few days later but has continued talking up Bitcoin and other cryptocurrencies such as dogecoin to his millions of followers on social media. Mr Musk said a week ago that Bitcoin was "on the verge" of being more widely accepted by investors. Tesla said in its regulatory filing that its decision was part of a broad investment policy aimed at diversifying and maximising its returns on cash.
This Knockoff Coin Named After Elon Musk's Pet 'Marvin' Is Up Over 70% Today
Elon Musk, Technoking of Tesla, orders a halt to bitcoin car payments. Cryptocurrencies get a bad rap for energy usage because they do indeed use up an awful lot of energy, at least many of them do. Major mining centers have thousands of GPUs running around the clock. While Ethereum has already committed to transitioning away from proof-of-work to something called proof-of-stake, which vastly reduces energy usage, Bitcoin seems less likely to make this transition. This is inaccurate. His comments do give him plenty of wiggle room, however.
Dogecoin is better than Bitcoin for transactions, says Elon Musk
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Elon Musk says dogecoin is better to buy things with than bitcoin
At current prices, 0. The news sparked heavy trading in cryptocurrencies and caused exchanges like Coinbase, Gemini, Binance to experience technical issues, according to Coindesk. It also generated discussion on Reddit. Tesla said in a filing the decision to move nearly 8 per cent of its reserves into bitcoin was part of its broad investment policy as a company aimed at diversifying and maximising its returns on cash, including holding gold.
Tesla Billionaire Elon Musk Reveals How Much Bitcoin He Owns
In response to a request from Rowling for Twitter to explain Bitcoin to her, Musk said: "Massive currency issuance by govt central banks is making Bitcoin Internet money look solid by comparison". A follower replied to Musk: "That's irrational, based on you just saying it is more solid than fiat money. Another wrote: "There's good reasons why all those fake bot accounts constantly try to push fake bitcoin scams lol, I don't trust bitcoin far as I can throw it". Scammers have time and again abused Musk's popularity to fleece Twitter users after hacking several popular accounts. The hackers used his name and likeness to ask for Bitcoin -- a cryptocurrency -- by promoting a fake ad on Twitter in
We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. To learn more or opt-out, read our Cookie Policy. As Elon Musk tweets go, so goes the crypto market.
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