Elon Musk’s Tesla bought into Bitcoin with a $1.5 billion USD investment. While Musk hasn’t confirmed that he himself has any recent Bitcoin investment personally, he does seem to have turned the table on cryptocurrency advocacy, going toe to toe with famous Bitcoin critic and gold bull Peter Schiff.
Schiff posted a tweet quoting Musk and criticizing his views on money, saying both fiat and digital currencies are nonsense:
According to @elonmusk “Bitcoin is almost as BS as fiat money.” So Musk regards both #Bitcoin and fiat as BS. I agree, I just think Bitcoin, which is digital fiat, is even more BS than the paper fiat issued by central banks. #Gold is not BS. It’s real money and better than both!
— Peter Schiff (@PeterSchiff) February 19, 2021
Schiff continued to say that Musk should be able to identify the key differences between tangible features and “a string of numbers” implying that gold has more functional use as a currency than digital currencies. He also offered:
“Money isn’t data. Data can represent money but can’t replace it. Money improved barter, gold improved money, and data improved #gold. Bitcoin is a return to barter.”
“Money is data to avoid the inconvenience of barter”
To this, Musk responded:
An email saying you have gold is not the same as having gold. You might as well have crypto.
Money is just data that allows us to avoid the inconvenience of barter.
That data, like all data, is subject to latency & error. The system will evolve to that which minimizes both.
— Elon Musk (@elonmusk) February 20, 2021
Musk, however, did add an extra tweet saying:
“That said, BTC & ETH do seem high lol”
As pointed out by Binance CEO Chaopeng CZ Zhao, Musk made the same comments about Tesla stocks when they shot up: “Lol, you said this about TESLA stock, before it went through the roof.”
The post Elon Musk rips on crypto critic Peter Schiff about Bitcoin appeared first on Coin Insider.
Many people are confused about how to invest. While there are certainly no set rules regarding how to invest, there are a few rules that apply to all investments. These rules generally apply to both long term and short term investments.
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Another type of investment you should consider is private equity. When people invest in this type of investment, they are using their own money. They will receive either a lump sum payment or regular payments according to a negotiated agreement. This type of investment can be a very lucrative way for investors to make money if they can choose the right companies. Different types of businesses are used by private equity investors including: technology, health care, and energy.
There are many ways investors can invest money. There are some who prefer to purchase stock in the stock market, others opt for bonds, and others opt for short-term investments. If you are looking for the best investment opportunities, it might be helpful to examine the pros and cons of each method. Whether you choose stocks, bonds, or short-term investments, there are several things to keep in mind.
First, remember to choose investments wisely. Don’t invest all your money at once, or you will risk losing everything. Second, never invest money that you cannot afford to lose. Finally, do your research and consider the long-term goals of your investment. Regardless of the type of investment you choose, always use sound judgment and common sense when generating income from your investments.