https://trends.google.com/trends/explore?date=now%201-d&geo=...
and https://www.coindesk.com/price/bitcoin
At 3pm PT on 5/12, Bitcoin was at $54.6k USD. Musk tweeted https://twitter.com/elonmusk/status/1392602041025843203 at 3:06pm. Two hours later, BTC was at $47.7k. One cannot blame the media on this, and it's not the result of macroeconomic news.
Kinda insane that a single guy can make almost the entirety of the crypto market swing 10-20% every time they mention crypto.
Eventually he either realized or had it pointed out that the environmental controversy would be problematic for an electric vehicle company.
Any Mathcoin (or any trade) is an exchange based on energy spent (not including Mathcoins insane transaction cost). It's an abstraction from someone mining for materiel from the ground and trading. An energy cost is involved.
What's the killer use case? I can just as easily purchase wine, art, or goods which appreciate and will indefinitely hold a non zero value, even if civilisation comes to a halt, someone wealthier than me will want to get drunk.
If the use case is a fungible, I'm good. If I want to do illegal stuff, I can just as easily launder those goods the same way.
p.s. if you buy expensive wine in restaurants, thanks.
Are you saying AGIs will earn a living by operating a cryptocurrency mine?
A lot of people were already astronomically up on their DOGE holdings; having its biggest advocate in recent memory (recall Musk crowned himself "Dogefather") basically dismiss any hint that it might be a "serious" coin amounted to a signal that $0.70 was peak DOGE (IMHO).
Given that this latest quip from Musk is explained as being related to concerns about BTC's power consumption problems, I wouldn't be surprised to see him in the near future pumping another altcoin that advertises as having a power efficient network like NANO.