Elon Musk: Always A Douche

[Valmy]

I mean at least you can hang a Caravaggio in your lounge.

[Habbaku]

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.

I'm not sure what you mean by underlying value. It clearly does have value to the people willing to pay piles of money to buy it.

Now, I of course disagree on the, er, value of their perception of its value, but still.

[Admiral Yi]

Most people when they say crypto doesn't have value mean it doesn't produce a revenue stream.

[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.

I'm not sure what you mean by underlying value. It clearly does have value to the people willing to pay piles of money to buy it.

Now, I of course disagree on the, er, value of their perception of its value, but still.

Yeah I don't know what I mean either... I was reaching towards a "guaranteed to be redeemable for specific goods or services" or something like that. Like Team Fortress Hats or some such. But I'm not sure....

[Valmy]

Most people when they say crypto doesn't have value mean it doesn't produce a revenue stream.

I have been slow to get involved because it seems very undiversified+sporadic. Though there are probably funds where you are investing in a whole portfolio of crypto out there.

[Habbaku]

Fair enough. At a certain point, all of this stuff is subjective in value anyway, and it's not like the valuations of it make much sense in the vast majority of cases (DogeCoin and SHIB coin for instance). Suckers willing to buy up a product based on belief it'll go up isn't new, as Berkut has intimated.

[Habbaku]

Most people when they say crypto doesn't have value mean it doesn't produce a revenue stream.

I have been slow to get involved because it seems very undiversified+sporadic. Though there are probably funds where you are investing in a whole portfolio of crypto out there.

Yeah, crypto ETFs are coming online and are at least a reasonable way to get exposed to the crypto world without taking the risk of managing your own wallet or worrying over what to buy. I've seen worse products, but still wouldn't encourage anyone to buy into a crypto ETF in any serious way (IE, greater than 5% of their portfolio).

[viper37]

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.

well, art has no use in itself, yet people will pay astronomical prices for a painting done by a monkey.

[garbon]

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.

Or he is just what he always does. See latest things around cryptocurrency from Musk.

https://www.forbes.com/sites/billybambrough/2021/05/25/elon-musk-reveals-why-hes-backing-dogecoin-over-bitcoin-ethereum-and-others-after-surprise-call-for-upgrade-ideas-sends-its-price-sharply-higher/?sh=35e3cb20604d

Elon Musk Reveals Why He's Backing Dogecoin Over Bitcoin, Ethereum And Others After His Surprise Call For Upgrade 'Ideas' Sends Its Price Sharply Higher

Elon Musk, the Tesla TSLA +2.4% chief executive who's sent the bitcoin price on a roller coaster this year, has continued his potentially ironic support of the "joke" bitcoin rival dogecoin.

Musk took to his preferred platform, Twitter, to explain why he's backing dogecoin, telling another Twitter user dogecoin "has dogs and memes"—helping the dogecoin price rebound from a steep sell-off over the weekend.

"Curious what are your thoughts on ethereum 2.0, cardano, solana, polkadot, IOTA and others that are trying to scale with low fees," asked Dave Lee, a YouTuber and Tesla investor. "What makes you choose doge over them?"

"[Dogecoin] has dogs and memes, whereas the others do not," Musk replied. The cryptocurrency market has been flooded by digital tokens looking to improve on bitcoin over the last few years, with rivals to ethereum, the second-largest cryptocurrency after bitcoin, being challenged by a slew of alternatives that promise lower fees, faster transaction times and improved efficiency.

Earlier, Musk issued a call to developers to submit ideas for dogecoin upgrades and improvements via Reddit and GitHub, also replying to a news story about ethereum upgrades, saying ethereum's co-founder Vitalik Buterin "fears the [doge]."

"Someone suggested changing dogecoin fees based on phases of the moon, which is pretty awesome," Musk added, telling one other Twitter user dogecoin developers "told [him] they would appreciate help."

Dogecoin, despite attracting criticism for its lack of development and high token concentration among a small group of accounts, has soared a staggering 12,000% on this time last year as people bet the price will continue to climb and social media influencers and billionaires cheer on the Shiba Inu dog-based memecoin—fuelling speculation the dogecoin price could climb as high as $1 per dogecoin token.

Musk, who enthusiastically embraced the honorary title of dogecoin CEO following a 2019 Twitter poll, has repeatedly named the meme-based cryptocurrency as his preferred digital token over recent years.

However, speaking during an interview in February, Musk said all his dogecoin-related comments shouldn't be taken seriously—something that continues to cast doubt over how much attention should be paid to Musk's frequent, market-moving dogecoin posts.

As well as boosting the dogecoin price with his tongue-in-cheek comments, Musk sent the bitcoin price higher after announcing he'd met with North American bitcoin miners.

The so-called miners, who secure the bitcoin network by directing computing power towards it in return for newly created bitcoin tokens, were brought together over the weekend by bitcoin investor Michael Saylor to discuss how to reduce bitcoin's eye-watering carbon footprint—something that caused Musk to suspend Tesla's use of bitcoin for payments earlier this month.

"Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners [world-wide] to do so," Musk posted to Twitter, adding he felt the meeting was: "Potentially promising."

...

[crazy canuck]

Like I said, he may be thinking beyond this month.  His actions are consistent with trying to force crypto to have less of an environmental impact. 

[Barrister]

Like I said, he may be thinking beyond this month.  His actions are consistent with trying to force crypto to have less of an environmental impact.

They really aren't.

Oh, he has made noise about the environmental impact before.  But it also sounds a lot like he's just trolling us all.  I mean - he's pluggin the joke crypto dogecoin!

[crazy canuck]

Like I said, he may be thinking beyond this month.  His actions are consistent with trying to force crypto to have less of an environmental impact.

They really aren't.

Oh, he has made noise about the environmental impact before.  But it also sounds a lot like he's just trolling us all.  I mean - he's pluggin the joke crypto dogecoin!

/grumbler/ argument by assertion /grumbler/

If you read the article Garbon posted, it even mentions the fact that Musk has said Ether is going to 2.0 because it fears the Doge.

You have to have already made up your mind that there is not something beyond Musk just being an idiot to not see some obvious links to another goal.

[Jacob]

Like I said, he may be thinking beyond this month.  His actions are consistent with trying to force crypto to have less of an environmental impact.

They really aren't.

Oh, he has made noise about the environmental impact before.  But it also sounds a lot like he's just trolling us all.  I mean - he's pluggin the joke crypto dogecoin!

Sounds to me like he's just using his influence to manipulate prices for his own benefit.

[Berkut]

Like I said, he may be thinking beyond this month.  His actions are consistent with trying to force crypto to have less of an environmental impact.

They really aren't.

Oh, he has made noise about the environmental impact before.  But it also sounds a lot like he's just trolling us all.  I mean - he's pluggin the joke crypto dogecoin!

Sounds to me like he's just using his influence to manipulate prices for his own benefit.

If Musk was just all about making himself a lot of cash, why do you think he is doing shit like SpaceX?

[HVC]

Name brand recognition. Even more worrisome than someone out for a quick buck. you can understand their reasoning, but someone who wants to be famous is a lot more unpredictable.