Some people admire Elon Musk, believing him to be a brilliant entrepreneur. Other people resent the meteoric success that has made Musk one of the richest people in the world. My opinion is more nuanced. I think Musk's innovations in transportation and elsewhere are admirable. But I also think think the guy should just shut up about crypto until he understands it better.
I think it both safe and wise to assume Elon is no fool. Indeed, it would be quite difficult to build one of the world’s most disruptive enterprises, let alone three, if this where the case.
With this in mind, I consider Elon’s actions part of a grand scheme. Money is clearly not his endgame, yet I think we all have the same prescient sense that he is playing for keeps (if you don’t think this you should really pay closer attention).
So if we take it as a given that he is playing for the highest of stakes, is it really conceivable that he is just fumbling around in the dark, tweeting any random thought that springs to mind like a certain ex-President? Unlikely I say.
To me it is clear that Elon has a grand design, if not nefarious, probably an overly ambitious one, if his public designs like colonizing Mars are anything to go buy.
It’s for this reason that I think every Tweet Elon makes is made with purpose. And while his grand design may not come off, I have no doubt he is systematically working toward something.
If bitcoin was to go to zero, Elon Musk wouldn't even loss a minutes sleep over it. But for most other people invested in Bitcoin it would really hurt them.
When you're a multi billionaire your view and perception of money is total different to the average person. It no longer become a necessity but more a tool of control.
Big investors can generally take big risks and tolerate those risks better. For small investors even the littlest investments are big risks so they react faster and as a result take less time thinking. It's unfortunate that the smallest investors are probably the ones who are suffering the most during all of this.
I said all I have to say about this guy in my other post on this topic. I can't do it again.... please don't make me...
Ok. Fine. I thought of some other things I didn't say before...
Elon has benefited our world in some crazy ways. Not necessarily through the "green" movement everyone says he does so much for because...I mean making some of those parts is NOT a green process... BUT, the innovation is there and that is how great things get started.
He got us all interested in the moon again, which is so important. He started "Neuralink" which is a crazy futuristic brain implant to interface with technology that is ALL new and crazy to read about... The fact that he has the ideas is something important to not take for granted, because he has the money to at least try them...
However, market manipulation WHICH HE KNOWS HE IS DOING is just irresponsible.
I'm not saying that Elon Musk is being nefarious when he tweets about certain things, but he certainly knows how much sway he has on Twitter and it's irresponsible that he's allowed to tweet about things that he doesn't know much about which ends up having an effect on the cryptocurrency market. If he was tweeting about publicly traded companies, the SEC would come down on him hard; his takes on cryptocurrency should be no different in this case. He's creating unnecessary FUD amongst retail investors who take his word for bond. In fact, probably the same retail investors who were convinced to buy into cryptocurrencies on his word alone. It's disheartening that the same investors may have a negative connotation with crypto for years to come because they ended up losing their money buying at the top. Maybe Elon Musk is angry that Tesla is down 25% in the past 3 months and is trying to redirect some funds into his stock. Whatever it may be, he knows he has disproportionate sway with the public and should really keep his mouth shut.
Imagine if you had the power to tweet something as little as 'dogecoin to the moon' with a poorly photoshopped doge picture on a rocket and have the ability to instantly double your investment and sell at the high.
Or.
You just sold a large stack on BTC and thought hmm maybe we aren't at the top yet, I might just tweet that my company is no longer accepting BTC and then buy at the low only to tweet later that you still own BTC
Not saying either of these happened but this man is way too powerful/influential in cryptocurrency and I don't think he actually understands it.
I've always imagined how good life would be to be Elon but for the reason above I do so even more lol
I think more than him saying dumb shit, we need to make people understand that just because somebody is billionaire doesn’t mean he understands everything about money and all the ways money can be made 👀
I think it both safe and wise to assume Elon is no fool. Indeed, it would be quite difficult to build one of the world’s most disruptive enterprises, let alone three, if this where the case.
With this in mind, I consider Elon’s actions part of a grand scheme. Money is clearly not his endgame, yet I think we all have the same prescient sense that he is playing for keeps (if you don’t think this you should really pay closer attention).
So if we take it as a given that he is playing for the highest of stakes, is it really conceivable that he is just fumbling around in the dark, tweeting any random thought that springs to mind like a certain ex-President? Unlikely I say.
To me it is clear that Elon has a grand design, if not nefarious, probably an overly ambitious one, if his public designs like colonizing Mars are anything to go buy.
It’s for this reason that I think every Tweet Elon makes is made with purpose. And while his grand design may not come off, I have no doubt he is systematically working toward something.
Lol I agree Musk should zip it until he puts in some time to actually understand the tech
If bitcoin was to go to zero, Elon Musk wouldn't even loss a minutes sleep over it. But for most other people invested in Bitcoin it would really hurt them.
When you're a multi billionaire your view and perception of money is total different to the average person. It no longer become a necessity but more a tool of control.
Good read!
Big investors can generally take big risks and tolerate those risks better. For small investors even the littlest investments are big risks so they react faster and as a result take less time thinking. It's unfortunate that the smallest investors are probably the ones who are suffering the most during all of this.
Elon's just outright market manipulating. I guess in crypto anything goes.
I said all I have to say about this guy in my other post on this topic. I can't do it again.... please don't make me...
Ok. Fine. I thought of some other things I didn't say before...
Elon has benefited our world in some crazy ways. Not necessarily through the "green" movement everyone says he does so much for because...I mean making some of those parts is NOT a green process... BUT, the innovation is there and that is how great things get started.
He got us all interested in the moon again, which is so important. He started "Neuralink" which is a crazy futuristic brain implant to interface with technology that is ALL new and crazy to read about... The fact that he has the ideas is something important to not take for granted, because he has the money to at least try them...
However, market manipulation WHICH HE KNOWS HE IS DOING is just irresponsible.
In fact, I can comfort me by admitting that it acts as a balance.
BTC, which rose with the news that Tesla would accept bitcoin, returned to its old place with the news that Tesla would not accept bitcoin.
I can take it as if this is the place to be for now.
I totally agree that Elon has to keep quiet.
I'm not saying that Elon Musk is being nefarious when he tweets about certain things, but he certainly knows how much sway he has on Twitter and it's irresponsible that he's allowed to tweet about things that he doesn't know much about which ends up having an effect on the cryptocurrency market. If he was tweeting about publicly traded companies, the SEC would come down on him hard; his takes on cryptocurrency should be no different in this case. He's creating unnecessary FUD amongst retail investors who take his word for bond. In fact, probably the same retail investors who were convinced to buy into cryptocurrencies on his word alone. It's disheartening that the same investors may have a negative connotation with crypto for years to come because they ended up losing their money buying at the top. Maybe Elon Musk is angry that Tesla is down 25% in the past 3 months and is trying to redirect some funds into his stock. Whatever it may be, he knows he has disproportionate sway with the public and should really keep his mouth shut.
Imagine if you had the power to tweet something as little as 'dogecoin to the moon' with a poorly photoshopped doge picture on a rocket and have the ability to instantly double your investment and sell at the high.
Or.
You just sold a large stack on BTC and thought hmm maybe we aren't at the top yet, I might just tweet that my company is no longer accepting BTC and then buy at the low only to tweet later that you still own BTC
Not saying either of these happened but this man is way too powerful/influential in cryptocurrency and I don't think he actually understands it.
I've always imagined how good life would be to be Elon but for the reason above I do so even more lol
He really set this shit on fire huh 😂
I think more than him saying dumb shit, we need to make people understand that just because somebody is billionaire doesn’t mean he understands everything about money and all the ways money can be made 👀
I didn’t like him before
I still not liking him
People listening to celebrities for advice needs to stop in general, this will hopefully teach them a lesson.
I agree on Musk. It's bad enough when John McAfee or Mark Cuban speaks. At least they know what they're talking about.