Elon Musk: stimulus was a bad idea

Musk has a serious problem with the way the US government has handled the coronavirus pandemic. He says a trillion dollar stimulus package is not a way to fix it, and that printing money out of thin air so everyone can get a little relief that mask the real problem. He believes that central banks are not doing enough to prevent a financial catastrophe from happening.

In a recent interview with Joe Rogan, the South African entrepreneur explained:

You cannot just legislate on money and solve these problems. The idea, however, that you can just send checks to everyone and that everything will be fine, is not true, obviously. The [economic] machine stops.

Guy Hirsch - the U.S. general manager of the crypto broker and the e-Toro exchange - seems to offer a similar sentiment. Hirsch recently praised bitcoin - the world's largest cryptocurrency in terms of market capitalization - and explained that it is a solid financial tool and an investment in the sense that it is not linked to central banking institutions like the US dollar or other forms of trust.

He explained:

The bitcoin protocol   has a monetary policy integrated into the code and is therefore not bound by political or other manipulations. All 210,000 blocks of bitcoin will contain a higher stock-to-flow ratio, making bitcoin a real source of value. Central banks have now made the impression of trillions of dollars a normal phenomenon, which is not sustainable.

Elon Musk's first eulogy of bitcoin began about 48 hours ago after Harry Potter author JK Rowling went on Twitter to ask fans and followers what bitcoin was . The author was clearly looking for an explanation and, after receiving a large number of responses, decided that the situation was too oppressive and no longer wanted to hear.

In a statement, Rowling explained:

I am sure that cryptocurrencies are fascinating. I really tried to grasp the detailed information that m ' has been sent tonight, but I fear it is a total blind spot for me. I'm pretty much able to grasp a barter system. Talk about collectibles, tokenomics and blockchains and my brain is wandering around.

Rowling needs help with BTC

Among those who have also explained the explanation of bitcoin to the author, there was Vitalik Buterin, co-creator of Ethereum . In a series of messages, Buterin said to Rowling:

[Bitcoin is] a digital currency. There are [approximately] 18 million units. It is not supported by anything. It’s just precious because it’s like collectibles. There is a network of computers (which anyone can join) that maintains a decentralized global Excel spreadsheet of the number of rooms for each person. People find [bitcoin] interesting because there is no central authority that controls this network.