Did Elon Musk Create Bitcoin?

Discussion in 'HardForum Tech News' started by DooKey, Nov 27, 2017.

  1. DooKey

    DooKey [H]ardness Supreme

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    According to a former employee of Space X, Sahil Gupta, he believes there is a good possibility Elon Musk created Bitcoin. If you review his reasons you'll probable think they are pretty thin. I feel the same way. However, maybe Elon did create Bitcoin and he's sitting on a few hundred thousand of them (he says he has none) and that's why he's not worried that Tesla is burning money like crazy.

    One week before Gupta’s Medium post on Musk, another Medium blog was published with a theory that Musk invented Bitcoin for future use on Mars. As radical as this may sounds, the point around Paypal in this article was relevant. Musk has already revolutionized digital currency his founding role in Paypal, which he sold to eBay in 2002. The author claims Musk is under a non-compete from this deal, leaving him to secrecy about his role in Bitcoin.
     
  2. hescominsoon

    hescominsoon [H]Lite

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    Musk is not worried about burning money because he doesn't have to make any. Between the gov't payments he gets and the well from the investor community..he has no reason to be concerned. Once those streams dry up Tesla will implode..and fast.
     
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  3. Verge

    Verge [H]ardness Supreme

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    Musk didn't found paypal. He made a website that let you pay for porno sites that merged with paypal. Why does everyone get this wrong?
     
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  4. umeng2002

    umeng2002 Gawd

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    And then quantum computing becomes practical... RIP even with all his tax breaks and subsidies... That aside, he is a visionary and I like him for trying to push technology forward, he no Steve Jobs... but if he actually created bitcoin, that would be his biggest accomplishment.
     
  5. BloodyIron

    BloodyIron 2[H]4U

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    I think because in some areas the info is presented like he did. I honestly misunderstood this too, until I learned more about it. Honest mistakes happen :/

     
  6. NeoNemesis

    NeoNemesis 2[H]4U

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    PayPal was the name of a product until X.com merged with Confinity. The resulting merged company was called PayPal Inc.

    Musk was as much a founder a founder of PayPal Inc. as anyone.
     
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  7. deton8

    deton8 Limp Gawd

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    I seriously doubt Musk is thinking of potentially floating Tesla with his personal fortune, in Bitcoin or otherwise.
     
  8. Twisted Kidney

    Twisted Kidney 2[H]4U

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    I would argue that Tesla gets a tiny fraction of what the big three get, but Tesla also employs less people and makes a shit load less cars.

    What kills me about this, though, is that people are assuming that being first will give Tesla some level of dominance in the emerging electric car market. They're fools, companies that are a whole lot better with supply chain and a whole lot better at getting product into driveways are going to be coming to the market. One decent price war is all this tech needs to really take off, I don't think Tesla is equipped to deal with the top five or ten car makers in the world pushing into their turf.
     
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  9. Lifelite

    Lifelite 2[H]4U

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    Um, no. Tesla has set themselves up pretty nicely now...they've almost fell apart before and then rose again...but now they are basically the "Apple" of cars. He's actually been asking for the subsidies to end because at this point they are hurting more than helping.

    https://seekingalpha.com/article/4069065-elon-musk-begs-feds-please-end-teslas-tax-subsidy

    Plus, he doesn't get near as much subsidies as big oil companies.

    https://electrek.co/2016/11/25/tesla-subsidies-big-three-oil-industry/
     
  10. oROEchimaru

    oROEchimaru [H]ardness Supreme

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    ironically paypal is super strict about sex/porn now and bans accounts
     
  11. Retronym

    Retronym Something big is coming.

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    This is just drumming up business.
     
  12. NeoNemesis

    NeoNemesis 2[H]4U

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    Was X.com really for porn? I think a lot of people assumed that and that was why they chose the name PayPal.
     
  13. Meeho

    Meeho [H]ardness Supreme

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    Apple wasn't over half a billion in the red the last quarter.
     
    Last edited: Nov 27, 2017
  14. Verge

    Verge [H]ardness Supreme

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    Wrong PayPal was created under the other company before it merged with X.com.
     
  15. NeoNemesis

    NeoNemesis 2[H]4U

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    Read what I wrote. PayPal the PRODUCT was created by Conformity. PayPal the COMPANY was created at the time of the merger because they were worried that X.com (which was originally supposed to be the name of the new company) would be construed as pornographic.
     
  16. ryan_975

    ryan_975 [H]ardForum Junkie

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    And the Confinity Paypal product was very different from what the Paypal service became. The Paypal service is more in line with what X.com was trying to do.
     
  17. Verge

    Verge [H]ardness Supreme

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    Umm, yea because it was. That's how you paid for pr0nz.
     
  18. NeoNemesis

    NeoNemesis 2[H]4U

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    According to the wikipedia article:



    Maybe it was used for porn, I have no idea, but I don't think that was the initial intention when Musk created it. I find it hard to believe that Barclays would get involved with porn, but who knows.
     
  19. theBrownLlama

    theBrownLlama Gawd

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    Elon never created anything. Hes a businessman.
    Damn, the myth making PR machine...i want that firm representing me as well. Trump could use its services.
     
  20. Meeho

    Meeho [H]ardness Supreme

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    Did Elon Musk create LIFE itself?
     
  21. westrock2000

    westrock2000 [H]ardForum Junkie

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  22. capt_cope

    capt_cope Gawd

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    Tesla isn't really comparable to apple. Unlike Apple their design is at best lackluster (look at a model S and tell me you don't see an oversized 2008 Hyundai Tiburon), their QC is a bit spotty, oh yeah and they're hemorrhaging money. Unless some drastic changes happen quickly they're going to go bankrupt (I'd bet they've got 6-9 months, but I'm no expert).
     
  23. buttons

    buttons [H]ard|Gawd

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    Before the Iphone apple was circling the drain too, now look at them. My perception of Tesla is much higher then that of apple. If i were in the market for a $70,000+ sedan Tesla would be the first one on my list. Meanwhile in the PC / cell phone market apple is about last. I do think apple devices have a premium look and feel, but i do not feel they are pushing the envelope in any other category.

    In full disclosure, I have never been in or driven a Tesla, so i may not buy one over a BMW 535. We love our Chevy Volt, so i am well sold on electric vehicles.
     
  24. Verge

    Verge [H]ardness Supreme

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    Oh it was lol. Not sure if that was the intention either.
     
  25. Verge

    Verge [H]ardness Supreme

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    They will issue new shares. So look for random new product announcements to happen around that time to keep them in the news. Elon is the best hype-man in the game.
     
  26. westrock2000

    westrock2000 [H]ardForum Junkie

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    Is your displeasure with Apple based more on cost? If a Mac Pro was $400 new, would you buy one? If an iPhone was $200 new, would you buy one? If iTunes was completely free to anyone using an Apple device would you use the service?