Why do geniuses like Elon Musk and Sam Altman overlook Bitcoin? \ stacker news ~alter

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Why do geniuses like Elon Musk and Sam Altman overlook Bitcoin?

241 sats \ 15 comments \ @Noobboy 2 Dec alter_native

As you know, a lot of teenagers nowadays (Including me) admire Elon Musk because he's fun, open about his thoughts, doesn’t give a shit about what the world thinks of him, and is a real genius.

But there’s one big catch: he doesn’t seem to care much about Bitcoin. Instead, he focuses on other cryptocurrencies that you guys here call "shitcoins." I don’t know why he does that. He’s a smart guy with so much potential to make people realize the true value of Bitcoin, but he doesn’t. Instead, he seems to take it all for granted.

Dogecoin Gets Elon Musk Boost. Why Cryptos Are Soaring Ahead of the Election (https://www.google.co.in/amp/s/www.barrons.com/amp/articles/dogecoin-elon-musk-bitcoin-crypto-election-276ddf9a?espv=1)

I think he doesn’t believe Bitcoin could ever replace fiat. And that’s scary because he’s usually right about his predictions. But I’m really not sure about this one. I mean, how can someone with a vision to make people live on Mars and colonize it not see the future of fiat being replaced by Bitcoin?

Worldcoin, the Sam Altman co-founded “proof of personhood” crypto project that scans people’s eyeballs, announced on Thursday (https://techcrunch.com/2024/10/17/sam-altmans-worldcoin-becomes-world-and-shows-new-iris-scanning-orb-to-prove-your-humanity/)

And then there’s Sam Altman, who literally shook the world in just two years by bringing more users to ChatGPT than Bitcoin has managed in years. He even created his own cryptocurrency called Worldcoin. Why? Why are these genius people doing this? They have the power to shake the world. They don’t seem to fear governments, yet they’re still hesitant to fully promote Bitcoin.

Where am I going wrong here? Am I too dumb to understand this? Or are they secretly holding a ton of Bitcoin and just pretending otherwise?

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12 sats \ 1 reply \ @k00b 2 Dec

I think he doesn’t believe Bitcoin could ever replace fiat. And that’s scary because he’s usually right about his predictions.

People who make lots of predictions end up being right about some of them, and those are the only ones we remember. Elon is only beginning to understand money and debt based on his tweets, even though his experience at PayPal would make you think he's an expert.

0 sats \ 0 replies \ @Noobboy OP 4 Dec

I just need a whole new way of looking at things. Appreciate your reply!

17 sats \ 1 reply \ @freetx 2 Dec

Its not "just these 2", all of Silicon Valley is fairly antagonistic/dismissive towards bitcoin.

Its odd, because "cypherpunk" was invented around the Bay Area (but that was a different generation).

I think there are several reasons (no particular order): (a) NIH syndrome, (b) They are gullible and believe in the climate hysteria FUD, (c) Too invested in fiat and do not "see" its problems.

0 sats \ 0 replies \ @Bell_curve 3 Dec

There is also I didn’t create it so I have no interest in it

24 sats \ 1 reply \ @justin_shocknet 2 Dec

It's naive to think the word's richest man and most important defense contractor can simply put out publicly everything he knows and thinks... especially on something like Bitcoin that needs to look completely organic to get global buy-in.

If you had a chorus of the most powerful and influential people in the world say Bitcoin is the next world reserve currency and they'ere all in 2010, it'd never have been adopted. People want to be first then have the powerful confirm their bias, not follow them.

17 sats \ 0 replies \ @Car 3 Dec

Straight out of the CIA playbook.

11 sats \ 1 reply \ @galt 3 Dec

You gave yourself the answer, they are not geniuses at all. Altman is a WEF puppet shitcoiner and Musk only starts to make sense on economics, not a sign of being prescient unlike many other bitcoiners for many years

0 sats \ 0 replies \ @Noobboy OP 4 Dec

I think they’re geniuses. It’s more like they just see stuff differently than everyone else. Like, Sam Altman wants something totally opposite to Bitcoin with Worldcoin, and Musk take it as fun by investing in random cryptocurrencies (shitcoins). I wasn’t questioning if they’re smart or not, but more like why they don’t care that much. Ty for your reply!

10 sats \ 0 replies \ @electrickmoney 2 Dec

Apparently Tesla is the fourth-biggest holder of bitcoin among publicly traded U.S. companies. Tesla Holds about 9,720BTC… I’m sure Elon gets a slice.

2 sats \ 0 replies \ @LowK3y19 2 Dec

Elon is too busy being the dodgefather

0 sats \ 0 replies \ @Car 3 Dec

Keep in mind to want to dive deeply into Bitcoin comes down to simply incentives. Neither see strategic value. The opposite is true for just about anyone about anything.

Also it’s quite possible they simply look at it as a SoV and nothing else. Which is far likely a scenario. I just hope they are smart enough not to just trust Coinbase.

0 sats \ 0 replies \ @Jon_Hodl 2 Dec

They don’t seem to fear governments, yet they’re still hesitant to fully promote Bitcoin.

That’s because they are the corporate arm of the government.

They will never promote Bitcoin because they rely on Bitcoin not succeeding. They promote shitcoins because shitcoins are the same as fiat; centrally controlled scams that enrich the few at the top.

Bitcoin challenges everything that they do.

0 sats \ 1 reply \ @037447d9ca 2 Dec

geniuses? lol

0 sats \ 0 replies \ @Noobboy OP 4 Dec

One of them is literally changing how we think about space, making Mars a possible home for humans, and creating tech aimed at sustainability. The other completely shook the world in just a few months. I’m super to know why you think differently? Is it Shitcoins?

0 sats \ 0 replies \ @DavidoftheDesert 2 Dec

There are a lot of ways to be smart. There is a lot more to Integrating Bitcoin than just intelligence. And in my opinion, these men aren't geniuses. They would like for us to believe so, but... Just my 2 sats.