[HN Gopher] Elon Musk Suggests Tesla May Have Dumped Bitcoin Hol...
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       Elon Musk Suggests Tesla May Have Dumped Bitcoin Holdings
        
       Author : mzarate06
       Score  : 25 points
       Date   : 2021-05-16 21:03 UTC (1 hours ago)
        
 (HTM) web link (www.cnbc.com)
 (TXT) w3m dump (www.cnbc.com)
        
       | rvz wrote:
       | Once again, they are not interested in hodling in the first place
       | as I have said weeks ago. [0] They are interested in making money
       | and Elon and Tesla know that they are able to move the crypto
       | markets.
       | 
       | If they have already sold it, well that is the 'dump' + negative
       | coverage / spin on BTC to pressurise the price to fall further.
       | Now the poor HODLers at >$60K will have to wait a while until the
       | next run up to the all time high.
       | 
       | One more thing in this crypto-currency episode, _' What goes up,
       | musk go down.'_
       | 
       | [0] https://news.ycombinator.com/item?id=27086093
        
         | loceng wrote:
         | I mean, shouldn't it be taken as a lesson that if the kids want
         | to play with fire, an unregulated market (include MLM-Ponzi
         | scheme structure by all accounts), then that's one type of
         | pitfall that exists?
         | 
         | Elon's also publicly said, tweeted not too long ago: "Bitcoin
         | is almost as much bs as fiat money" - so just because the
         | markets didn't know or report on that to help provide a
         | balanced, critical breakdown to promote balanced news - that's
         | all Elon's fault? The mob of irrational buyers have no
         | responsibility to know what they're "investing" in or to
         | research and understand statements or behaviours about what
         | they're "investing" in?
        
       | ub99 wrote:
       | It's astonishing how a single individual can affect (manipulate)
       | the value of an entire monetary ecosystem via a series of Tweets.
       | What's the advantage of Bitcoin being - allegedly - so
       | independent from governments and other centralized powers then?
        
         | polishdude20 wrote:
         | Yeah, the more news like this that comes out, the more I
         | realize it's not much more than a popularity contest.
        
           | ketamine__ wrote:
           | You could easily say this about the stock market. Imagine if
           | Buffett came out and said in advance he was going to sell all
           | his Coke stock.
        
       | jacobmischka wrote:
       | I believe Bitcoin is a scam and Musk is mostly just a rich memer
       | with high aspirations, but this seems like a bit of a stretch
       | based on a single word in a single tweet.
        
         | ericwooley wrote:
         | How is it a scam?
         | 
         | I believe cars can fly, and bill gates is actually the
         | president
        
       | neillyons wrote:
       | I guess insider trading doesn't apply to Bitcoin?
        
       | adflux wrote:
       | What an utter pillock has this guy become. Guess Tesla stock is
       | going to get hammered again tomorrow, as Musk = Tesla in the view
       | of the consumer
        
         | loceng wrote:
         | Had to lookup pillock - it's a real word!
         | 
         | Why do you think he's a pillock?
         | 
         | Don't you think he's got some merit considering he's climbed
         | the ladder with successful exit after successful exit and now
         | is #1/#2 richest person on Earth? Do you think his decision
         | making is all fluke?
        
           | protoax wrote:
           | Believe it or not, you can be financially successful and
           | still be a bad person. Bernie Madoff wasn't the most moral
           | person.
        
           | ObserverNeutral wrote:
           | > Don't you think he's got some merit considering he's
           | climbed the ladder with successful exit after successful exit
           | and now is #1/#2 richest person on Earth? Do you think his
           | decision making is all fluke?
           | 
           | Exits are fine for your buddy smoking pot on the beach as you
           | look back at the past 3 years running a company before
           | acquisition from a bigger fool who you managed to screw over.
           | 
           | Richest man in the world should be a guy who can walk away
           | from the company and sell 15-20B dollars worth of shares per
           | year and the company does just fine. Namely:
           | 
           | Jeffrey Preston Bezos
           | 
           | William Henry Gates III
           | 
           | Warren Edward Buffett
           | 
           | Lawrence Edward Page
           | 
           | These are serious people, Musk is just one of us who is
           | constantly winging it and hit it big with the constant
           | pumping, cult of personality and frankly fraud. Matter of
           | fact he can't walk away.
        
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       (page generated 2021-05-16 23:02 UTC)