Musk underlines bitcoin’s biggest weaknesses

Discussion in 'Crypto Assets' started by themickey, May 14, 2021.

  1. Pekelo

    Pekelo

    Elon is working with Doge devs, according to his tweet. I wonder how those cultist feel about this when they used the "[big name HF guy] is backing bitcoin" argument.

    Now biggest name in technology guy is backing Doge!!!! :)

    Remember, Bitcoin may go to the Moon, but Doge will go to Uranus!!!
     
    #11     May 15, 2021
    Nobert likes this.
  2. otctrade

    otctrade

    I don't know about sabotaging the coin itself but if you are acquiring the coins by mining them for a fraction of the cost (because of free or cheap power) you can afford to manipulate the currency in the future by, let's say crashing it (huge sell order). This would screw all the holders who bought bitcoins with fiat money.
     
    #12     May 15, 2021
  3. themickey

    themickey

    Only possible if someone else were paying I would have thought.
    The impression I have, mining crypto is not cheap. Correct me if wrong.
     
    #13     May 15, 2021
  4. Cuddles

    Cuddles

    you're not wrong, but very few are willing to mine at a loss
     
    #14     May 15, 2021
    johnarb likes this.