One of the strange things about Musk is that everything he does seems so weird that people often don't understand the purpose. Ask Musk, and he'll give a plausible reason that he probably doesn't believe.
For example, when virtual currencies were generally frowned upon by the mainstream media, Musk suddenly announced that he could buy a Tesla car with bitcoin. If you ask him, he'll say bitcoin has a lot of potential to appreciate in the future and so on. You know, he's Musk, not Wall Street, and he cares about making a few bitcoinsThings out of the ordinary there will be a demon, after he was indeed abnormal spread, and began to sell a large number of bitcoin.
For a while, it became even less clear what Musk was up to. Is he bullish or bearish on Bitcoin? Or is he just a fickle person who can't figure it out? As a man who strictly adhered to first principles, he could not commit the elementary error of caprice.
Now, let's go back to the way we thought about the previous article.
Assuming the flamboyant Musk is a bad guy and he's good at first principles, what exactly is he looking at bitcoin for right now?
The essence of a virtual currency is a virtual medium that can be traded, and this medium is essentially just credit. Just like the currency of each country, it is the credit of each country. Now that the global economy is wobbling, he is well aware that even a credit as strong as the dollar will eventually come to pass.
Starting from first principles, he must first find the world's most reliable medium of exchange (that is, money), which is reliable enough, independent of any country's control, to be able to conduct global commerce in a stable manner during the ensuing economic crisis and the economic sanctions that divided the world.
So he scoured the world and finally landed on bitcoin. As a medium of exchange, Bitcoin has always been reliable, able to carry out transactions at the Internet level even in the face of a concerted crackdown by governments around the world, so it is the most reliable currency in his mind.
But this virtual bitcoin, there are also fly in the ointment. Although it is stable as a medium of exchange, it is very volatile as a currency. The underlying reason is that Mr Musk is not in control of bitcoin at the moment, so the price cannot be controlled by him. If Musk, through various means, can find a way to own most of the bitcoin, he can stabilize the price of bitcoin trading. Later, when the need arises, it can serve as his backup currency, directly becoming a global currency.
At that point, Musk would be in a position to become the world's only, global-spanning business empire.
With the basic direction set, Musk could use his popularity to take the bitcoin market by storm.
He secretly bought a lot of bitcoin in order to get away with nothing, then suddenly announced that bitcoin was the best currency in the world, and the bitcoin market quickly jumped in response. When bitcoin reached a certain price, he released the news of massive selling of bitcoin, and as you can imagine, bitcoin plunged again.
Musk, at this point, won't actually abandon bitcoin, but rather stir things up. Bitcoin was probably sold just before he announced it. When bitcoin did fall, he would return with a massive buyback of low-priced bitcoins.
Thanks to the privacy of bitcoin's transactions, Musk can replicate this operation an infinite number of times, better than Wall Street's big guns, who are legally bound to operate.
Step by step, Musk will be able to easily and cheaply become the biggest player of Bitcoin, and eventually achieve the goal of controlling bitcoin.
Not only that, musk is also betting on Dogecoin to even out bitcoin's potential risks. I haven't studied how it works, but it's probably the same. Because his goal was to control a perfectly safe global currency that would guarantee the ultimate stability of his global business empire.
It doesn't matter whether the virtual currency is Bitcoin, Dogecoin, Litecoin or Infinitecoin. Whichever one can be controlled, use it. It's just a medium of exchange.
As time goes by, Musk will gradually grow into the biggest controlling entity in the global virtual currency market, and the economic strategies of any country will become invalid in Musk in the foreseeable future. After all, it is the only commercial entity that can bypass any other country's currency to achieve its goals, including the United States, which will be hard to control in the future.
In this way, Musk's control over the virtual currency will continue to increase, and we need to be careful that this kind of operation will inevitably impact our digital currency in the future.
What exactly are the disadvantages?
We need to understand that the most efficient way for world trade to run smoothly is for the world to use a single currency system, and who ultimately controls that currency system means who can influence the world economy.
The US is in the driver's seat now, so everyone is looking to the US at the moment. Fortunately, the United States is also a weak country, and we can influence the United States not to go too far through diplomatic and economic means.
If the monetary system ends up being controlled by one person, the consequences will be unimaginable. He can really influence the economic decisions of individual countries by controlling global currency transactions.
Not only that, but this is just one link in Musk's global web, and there are many more that are slowly unfolding. Pay attention to the thought loudspeaker, and we will continue to read it later.
Is musk really such a person? I was afraid to think or ask.