Elon Musk: Always A Douche

[DGuller]

If he manages to kill Bitcoin, it would be the greatest and the most useful accomplishment of his career.

[Valmy]

Is this because he supports dogecoin? Or is this an actual turn against crypto currency?

Apparently Dogecoin took a tumble after his SNL episode due to some of the comments he made during it. 

It disturbs me slightly how major economic trends seem to result from Elon Musk's public appearances. Oh he legally smoked weed with Joe Rogan? Well that means billions of dollars of economic activity should take place...for reasons.

[The Larch]

Is this because he supports dogecoin? Or is this an actual turn against crypto currency?

Apparently Dogecoin took a tumble after his SNL episode due to some of the comments he made during it. 

It disturbs me slightly how major economic trends seem to result from Elon Musk's public appearances. Oh he legally smoked weed with Joe Rogan? Well that means billions of dollars of economic activity should take place...for reasons.

IIRC the SEC reprimended him officially after either the Rogan stuff or some other comment he made related to it, as it veered really close to stock price manipulation. The guy talks as if it didn't matter what he says, but it matters.

[Barrister]

Is this because he supports dogecoin? Or is this an actual turn against crypto currency?

Apparently Dogecoin took a tumble after his SNL episode due to some of the comments he made during it. 

It disturbs me slightly how major economic trends seem to result from Elon Musk's public appearances. Oh he legally smoked weed with Joe Rogan? Well that means billions of dollars of economic activity should take place...for reasons.

IIRC the SEC reprimended him officially after either the Rogan stuff or some other comment he made related to it, as it veered really close to stock price manipulation. The guy talks as if it didn't matter what he says, but it matters.

He was more than reprimanded - he was fined something like $10 million and had to step down as Chairman of Tesla or something.

[Admiral Yi]

That was because he tweeted he had a firm buy out offer from the Saudis to take Tesla private.  It had nothing to do with huffing Rogan's blunt AFAIK.

It was a great buying opportunity and I bought 100 shares.

[Valmy]

I could have sworn his stock suffered from the huffing of the blunt. Ah well.

[Admiral Yi]

I could have sworn his stock suffered from the huffing of the blunt. Ah well.

There might have been some day long price dip but the SEC and the chairman and all that weren't related.

[The Larch]

It seems he's had plenty of issues with the SEC due to his tweeting:

In September 2018, Musk was sued by the US Securities and Exchange Commission (SEC) for a tweet claiming funding had been secured for potentially taking Tesla private. The lawsuit claimed that discussions Musk held with foreign investors in July 2018 did not confirm key deal terms and thus characterized the tweet as false, misleading, and damaging to investors, and sought to bar Musk from serving as CEO of publicly traded companies. Musk called the allegations unjustified and claimed he had never compromised his integrity. Two days later, Musk settled with the SEC, without admitting or denying the SEC's allegations. As a result, Musk and Tesla were fined $20 million each, and Musk was forced to step down for three years as Tesla chairman but was able to remain as CEO.

Musk has stated in interviews he does not regret the tweet that triggered the SEC investigation. On February 19, 2019, Musk stated in a tweet that Tesla would build half a million cars in 2019. The SEC reacted to Musk's tweet by filing in court, initially asking the court to hold him in contempt for violating the terms of a settlement agreement with such a tweet, which was disputed by Musk. This was eventually settled by a joint agreement between Musk and the SEC clarifying the previous agreement details. The agreement included a list of topics that Musk would need preclearance before tweeting about. In May 2020, a judge prevented a lawsuit from proceeding that claimed a tweet by Musk regarding Tesla stock price ("too high imo") violated the agreement.

The stock price manipulation thing I remembered had to do with him joking about something regarding Tesla's stock price reaching 420$.

Edit: Found the reference, it's in one of the notes to that paragraph from his wiki:

Musk stated he was considering taking Tesla private at a price of $420 a share, an alleged reference to marijuana. Members of Tesla's board and rapper Azealia Banks alleged that Musk may have been under the influence of recreational drugs when he wrote the tweet.

[crazy canuck]

Is this because he supports dogecoin? Or is this an actual turn against crypto currency?

Probably he understood that selling a car as environment friendly was undercut by accepting payment in Bitcoin.

Undercut how they sell like hotcakes?

He may be thinking beyond this month.

[Berkut]

Is this because he supports dogecoin? Or is this an actual turn against crypto currency?

Apparently Dogecoin took a tumble after his SNL episode due to some of the comments he made during it. 

It disturbs me slightly how major economic trends seem to result from Elon Musk's public appearances. Oh he legally smoked weed with Joe Rogan? Well that means billions of dollars of economic activity should take place...for reasons.

All this shit - bitcoin, weed companies - they are all speculative investment vehicles where the "value" assigned to the asset is 99.99% related to the perception that the value will increase because other people will want to get in on something that will increase. NOT because anyone is actually looking at the utility to the item and concluding that it has worth.

It is all Dutch Tulips.

So why would anyone be surprised when something that has nothing to do with anything concrete, and everything to do with emotive perception causes radical changes in the value of something that is valued based on nothing but emotive perceptions?

[celedhring]

Blockchain is great, but it has given birth to a bunch of financial hot hair. Add NFTs to the list of things hopefully will bust soon.

[Tamas]

Blockchain is great, but it has given birth to a bunch of financial hot hair. Add NFTs to the list of things hopefully will bust soon.

NFT "investments" are extremely retarded.

[crazy canuck]

Blockchain is great, but it has given birth to a bunch of financial hot hair. Add NFTs to the list of things hopefully will bust soon.

All these paintings are going to be worthless - Tuscany circa 1600   

[Habbaku]

Blockchain is great, but it has given birth to a bunch of financial hot hair. Add NFTs to the list of things hopefully will bust soon.

Approximately 5%, if that, of all crypto projects are actually worth a shit, and I am not sure any of them are actually worth their current valuation. Even what I consider to be the best of the lot (Ether) has a lot of hurdles to overcome before it's reasonable to consider its current valuation as reasonable.

Now, of course, the future man from 2025 coming back to tell me how everything runs on the Ethereum network now and that $4k is actually really cheap will have a point, but...

[Jacob]

NFT could be a legit thing if the underlying NFT has a use or value. Otherwise it's just "everyone make your own digital pogs!" IMO.