Elon Musk Tweets Become Top Crypto Influencer

kmiklas

kmiklas

Headline WSJ today.... again! Apparently now Musk is the Grandaddy of Crypto.

https://www.wsj.com/articles/elon-m...influencer-like-it-or-not-11621762202?mod=mhp

Elon Musk Has Become Bitcoin’s Biggest Influencer, Like It or Not
With the cryptocurrency down about 40% from its peak, some investors are unhappy with Tesla CEO’s tweets
Bitcoin Volatility Signals a Long Road to Adoption
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Bitcoin Volatility Signals a Long Road to Adoption
China’s recent warning on cryptocurrencies sent the market into a tailspin. WSJ’s Aaron Back explains why the recent shake-ups in the value of bitcoin, dogecoin, ether and other cryptocurrencies may point to obstacles in mainstream acceptance. Photo: Dado Ruvic/Reuters
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Updated May 23, 2021 2:24 pm ET
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When Elon Musk speaks, bitcoin investors listen.

The Tesla chief executive’s often-cryptic messages have sent bitcoin’s price on a roller-coaster ride this year. Prices soared nearly 20% one January morning when he added “#bitcoin” to his Twitter biography. They jumped 16% in a single day the following month after Tesla Inc. revealed it bought $1.5 billion worth of the cryptocurrency.

Then, he tweeted earlier this month that Tesla would no longer accept bitcoin as payment for its vehicles. Investors widely blame the tweet for starting bitcoin’s most punishing selloff of the year, a rout that has shaved hundreds of billions of dollars off its market capitalization and has erased gains made since late January. After peaking in mid-April near $65,000, bitcoin prices have fallen some 50%, including roughly 40% since Mr. Musk’s May tweet.

Bitcoin’s wild price swings continued over the weekend. The digital currency fell as low as $31,179.69, according to CoinDesk, down from $35,263 as of 5 p.m. Friday.
 

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I mean, he really DID play a number on Bitcoin. Hyping it, saying you could buy a TESLA with it, it skyrockets, then he pans it, saying no TESLA for you lol. He is either a complete idiot or he's the dealer waiting for suckers to bet on the field lol. Quite amazing.
 
Saltynuts said:
I mean, he really DID play a number on Bitcoin. Hyping it, saying you could buy a TESLA with it, it skyrockets, then he pans it, saying no TESLA for you lol. He is either a complete idiot or he's the dealer waiting for suckers to bet on the field lol. Quite amazing.
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He is not an idiot, the people who react on it are the idiots. This also shows that there are a huge amount of people that just play with BTC to make money, not because of the underlying so called promising future.
The smallest negative news makes millions of "believers" run away from BTC. Supply is clearly much bigger than demand.
 
kmiklas said:
Apparently now Musk is the Grandaddy of Crypto.
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One thing I find unbearable about the USA is that we have become so obsessed with wealth and celebrity, that we now anoint our billionaire celebrities as "key opinion leaders" in subject matters that they have very little expertise.

Debates over COVID vaccines take place, and instead of hearing from experts in virology and vaccinations, we hear the opinions of billionaire software developers.

Debates over taxation take place, and instead of hearing from experts in taxation and economics, we hear the opinions of billionaire hedge fund managers.

Debates over blockchain technology take place, and instead of hearing from experts in blockchain development, we hear from billionaire automobile manufacturers.
 
SteveM said:
One thing I find unbearable about the USA is that we have become so obsessed with wealth and celebrity, that we now anoint our billionaire celebrities as "key opinion leaders" in subject matters that they have very little expertise.

Debates over COVID vaccines take place, and instead of hearing from experts in virology and vaccinations, we hear the opinions of billionaire software developers.

Debates over taxation take place, and instead of hearing from experts in taxation and economics, we hear the opinions of billionaire hedge fund managers.

Debates over blockchain technology take place, and instead of hearing from experts in blockchain development, we hear from billionaire automobile manufacturers.
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yup... don't forget movie stars, famous pop singers, and TV personalities.

Personally I think Elon is just one big sales pitch for EVs, backed by Big Auto. They built his persona to be attractive to Millennials.
 
kmiklas said:
Personally I think Elon is just one big sales pitch for EVs, backed by Big Auto. They built his persona to be attractive to Millennials.
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100%....I would actually take it a step further. I actually think Elon is a paid actor (probably a CIA asset), hired to promote various technologies that the government is now releasing to the public.

The odds of 1 guy having a venture as successful as PayPal, and then seamlessly transitioning that success into Tesla, and then being successful in space exploration, and then into tunnel building, and then into inserting chips into peoples brains, and now cryptocurrencies, is so infinitesimally small....like 1 in 100 billion odds. Oh and while he's managing all of these operations, he still has time to spend 2 hours a day posting memes on twitter. Just laughable.
 
SteveM said:
One thing I find unbearable about the USA is that we have become so obsessed with wealth and celebrity, that we now anoint our billionaire celebrities as "key opinion leaders" in subject matters that they have very little expertise.

Debates over COVID vaccines take place, and instead of hearing from experts in virology and vaccinations, we hear the opinions of billionaire software developers.

Debates over taxation take place, and instead of hearing from experts in taxation and economics, we hear the opinions of billionaire hedge fund managers.

Debates over blockchain technology take place, and instead of hearing from experts in blockchain development, we hear from billionaire automobile manufacturers.
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It is typical that people who think they are experts in many domains, in general appear to have a low IQ. The huge majority on social media is part of that group.
 
SteveM said:
The odds of 1 guy having a venture as successful as PayPal,
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Paypal was never one guy and the board got ride of him for his stupid ideas.

That being said, private space companies are good for the government. Venture capital paying for research. Even if they are overpaying for loads, it is probably cheaper than running their own space agency.
 
SteveM said:
100%....I would actually take it a step further. I actually think Elon is a paid actor (probably a CIA asset), hired to promote various technologies that the government is now releasing to the public.

The odds of 1 guy having a venture as successful as PayPal, and then seamlessly transitioning that success into Tesla, and then being successful in space exploration, and then into tunnel building, and then into inserting chips into peoples brains, and now cryptocurrencies, is so infinitesimally small....like 1 in 100 billion odds. Oh and while he's managing all of these operations, he still has time to spend 2 hours a day posting memes on twitter. Just laughable.
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Yeah... it smells fishy as a squared 2007 Mortgage-Backed Security. He also appeared on Big Bang Theory, as a perfect humanitarian (of course):

 
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