Musk manipulated Bitcoin's price for own benefit — Magda Wiezycka

UrBaN963

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I know... but Pieter Thiel came up with that.
Okay.

Jeff Bezos didn't invent shipping shopped items.

Bill gates didn't invent software.

Thomas Edison didn't invent electricity.

Pamela Anderson didn't invent breasts.

Does this diminish their efforts and accomplishments?
 

TelkomUseless

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Market Manipulation - very strong and serious accusations - with no evidence.
Lets keep to the facts:
Tesla bought $1.5b in BTC.
Tesla sold $200m to ensure liquidity.
Tesla still holds $1.3 billion in bitcoin - far more than the $200m that was sold.
MSM started complaining about the energy used to mine the cryptocurrency.
Tesla was forced to take a conservative approach (or be a hypocrite) and distance itself from BTC.
I think Tesla may still lose part of the $1.3b


Tesla didn’t exactly earn its record profit from selling cars, however. The company said that it sold some of the $1.5 billion worth of bitcoin that it purchased in February, contributing $101 million to the bottom line. That is nearly a fourth of its total profit.
This is why he did it...
 

Swa

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Except it's not a serious accusation at all, because whether he did manipulate the BTC market or not, it is perfectly legal as it's unregulated.
Tesla however isn't. If this isn't outright illegal it's a grey area as it affected the Tesla price. He also did the same things with Tesla and was sanctioned.

He didn't start Tesla, but he did take it from a small business on the brink of bankruptcy to a company that revolutionalized the auto industry.

If you listen to 5min of his talks you will know that he's hands-on with the tech. He is a genius. A bit nuts and not perfect, but he is a damn genius.
With the help of tax payer money. How far would he have gotten without that? I still think most of Tesla's value is fictional and will never materialise with others being in this for longer and with better development.
 

Messugga

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I know... but Peter Thiel came up with that.
Look, there hasn't been many people in history that just happen to have been involved with this many companies that had significant impact on humanity. Once or twice, sure, but he's up to quite a significant number. It's a bit out of the norm, you have to admit. Maybe he has something to do with that success.
 

Swa

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Okay.

Jeff Bezos didn't invent shipping shopped items.

Bill gates didn't invent software.

Thomas Edison didn't invent electricity.

Pamela Anderson didn't invent breasts.

Does this diminish their efforts and accomplishments?
:ROFL:
 

TelkomUseless

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He didn't start Tesla, but he did take it from a small business on the brink of bankruptcy to a company that revolutionalized the auto industry.

If you listen to 5min of his talks you will know that he's hands-on with the tech. He is a genius. A bit nuts and not perfect, but he is a damn genius.



What is more, sales of regulatory credits to other auto makers to help them meet emissions mandates, which carry a 100% profit margin, reached $518 million. That accounts for nearly 100% of Tesla’s $533 million in pretax income. Those two helping hands helped avert red ink.

Not the genius dude.. just knows how to play the game.
 

backstreetboy

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hj007

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Tesla however isn't. If this isn't outright illegal it's a grey area as it affected the Tesla price. He also did the same things with Tesla and was sanctioned.


With the help of tax payer money. How far would he have gotten without that? I still think most of Tesla's value is fictional and will never materialise with others being in this for longer and with better development.
I'm also interested in what BTC and Tesla implications are.
 

eg2505

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100 years ago, if Musk was around, we would have gold rush/recession every 20 min
that's what happens when you have influence that you didn't earn, and use it for your own ends.

just like Trump did to become El presidente
who knows, if you have enough sheeple saying one thing, things eventually move.

look locally, same pattern, for Zuma and Malema,
m0rons both of them, but with a following that makes mountains move if enough people say something.
 

UrBaN963

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Lol the claim was he "revolutionized the finance industry" which is complete bollocks. Yuji Ijiri did that back in 1989 https://hackernoon.com/why-everyone...-invention-in-the-last-500-years-c90b0151c169
Very interesting read.

However, the reference was to PayPal I believe. An easy, online method of payment that is broadly adopted.

See here's the thing. No matter how brilliant a concept or invention, it takes brains, money and a degree of charm to turn that into a viable product which in turn actually sells.

Musk may not invent everything he touches, nor should he. But he is hands-on in the development of everything he is involved in, whilst still being the (somewhat awkward) face of it all.

He shouldn't be praised as the second coming of Galileo, but he also shouldn't be downplayed.
 

Joe Average

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That's the beauty about Crypto, its not regulated by any authority in the world. That is why the SEC is now trying to regulate it, by suing the Crypto 'creators', like Ripple's XRP and Revenue Services trying to TAX it. Not sure their (SEC's) efforts would work though. This is an untamed beast and could go anywhere, which is clear in the volatility of the crypto markets. Use with caution. :)
 

TelkomUseless

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That's the beauty about Crypto, its not regulated by any authority in the world. That is why the SEC is now trying to regulate it, by suing the Crypto 'creators', like Ripple's XRP and Revenue Services trying to TAX it. Not sure their (SEC's) efforts would work though. This is an untamed beast and could go anywhere, which is clear in the volatility of the crypto markets. Use with caution. :)
Exaclty...
 

Tim_vb

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You have access to all the information in the world at your fingertips, yet you say something so stupid. Do a bit of reading where Paypal comes from.
sorry to bust your bubble, once apon a time I also thought he was legitimate ... Musk is a fraud in the same vein as Jordan Belfort and Johann Steynberg
 

TelkomUseless

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sorry to bust your bubble, once apon a time I also thought he was legitimate ... Musk is a fraud in the same vein as Jordan Belfort and Johann Steynberg
hahahhhahahahahahahhahahahahahahhahahaha

He dazzles them with bullshit. Holy ****.... Musk is a narcist of note.

That was eye opener.
 

LazyLion

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If one person like Musk can manipulate a digital currency so easily, then maybe it's not actually a very good store of value anyway?
Maybe it's all just hype?
 

LCBXX

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If one person like Musk can manipulate a digital currency so easily, then maybe it's not actually a very good store of value anyway?
Maybe it's all just hype?
This. Bitcoin "investors" were taken for a p0es by 1 person's tweets and are now angry.
 
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