Are we excited yet?

HGVRHKYY

wotzgoingon wrote: »

I hope it drops completely for a while. I might actually invest in some then. :pac:

That's what they all say

Thargor

Meredith Rotten Tannery wrote: »

The very fact that Musk can do so much damage surely undermines the store of value argument? How could any institution justify investing in something that Musk could devalue with casual ease?.

Devalue by 10% after 400-500% gains lol.

Thargor

Thargor wrote: »

Devalue by 10% after 400-500% gains lol.

The problem is not that it has gone down a bit. The problem is why

Thargor

So its not a good store of value then? Even though everyone who's ever wanted to use it as such in its entire history apart from the last 30 days is in profit? All the indicators were overheated and this is one of its regular retraces before its next ATH, people always attach Musk/Chinese New Year/Turkey outlawing BTC/other noise when it moves, it doesnt mean anything.

Bob24

This Twitter thread is an interesting read on the latest Tether development and how they might have influenced crypto markets (IMO she’s being fairly balanced): https://twitter.com/caitlinlong_/status/1393651168681676801?s=21

Bob24

HGVRHKYY wrote: »

Think it was someone on this forum recently talking about how they reckon he's trying to elbow his way in to take over doge and claim ownership of it, so he can then asset himself as 'conquering' yet another sector, I totally agree. Wouldn't surprise me at all if that's his aim with all of this, guy's a total snake and I bet it sickens him to see the likes of Vitalik standing out as the household names and considered the real founders of crypto in general

Yes could be. I saw he actually offered funding to the Doge developers (which they say they declined). This would have given him a strong grip on the project.

Just used this opportunity to get some sub €3k ETH.

It's not pretty out there at the moment, but if we use our laser eyes we should be able to withstand this.

Thargor

Thargor wrote: »

So its not a good store of value then? Even though everyone who's ever wanted to use it as such in its entire history apart from the last 30 days is in profit? All the indicators were overheated and this is one of its regular retraces before its next ATH, people always attach Musk/Chinese New Year/Turkey outlawing BTC/other noise when it moves, it doesnt mean anything.

Well, that's a fair point.

I just think that Musks deliberate manipulation is terrible, and should be criminal.

FFVII

https://finance.yahoo.com/news/musk-latest-dogecoin-tweet-sparks-130000425.html

Musk backlash begins

Idioteque

https://decrypt.co/71081/did-elon-musk-just-suggest-tesla-is-about-to-dump-its-bitcoin

Get ready to buy the diiiiiiipppppp

bfa1509

FFVII wrote: »

https://finance.yahoo.com/news/musk-latest-dogecoin-tweet-sparks-130000425.html

Musk backlash begins

Idioteque wrote: »

https://decrypt.co/71081/did-elon-musk-just-suggest-tesla-is-about-to-dump-its-bitcoin

Get ready to buy the diiiiiiipppppp

The clown deleted the last few tweets it seems
Edit: No, back up again. The more grief he gets for this the better.

He's tweeted again

https://twitter.com/elonmusk/status/1394170030741413888

His posts and manipulation are perfectly fine and absolutely no one using bitcoin should complain about lack of regulation, and if you have a problem with one man making something with a market cap of 835 billion dollars fluctuate by double digit percentages with posts on Twitter, invest in something that has fundamentals.

My brother has lost loads of money the last couple of days and hasn't complained once because he's a grown up who understands what bitcoin is.

[Deleted User]

[Deleted User] wrote: »

His posts and manipulation are perfectly fine and absolutely no one using bitcoin should complain about lack of regulation, and if you have a problem with one man making something with a market cap of 835 billion dollars fluctuate by double digit percentages with posts on Twitter, invest in something that has fundamentals.

My brother has lost loads of money the last couple of days and hasn't complained once because he's a grown up who understands what bitcoin is.

I've just cancelled my Tesla

phishcakes

[Deleted User] wrote: »

Just used this opportunity to get some sub €3k ETH.

It's not pretty out there at the moment, but if we use our laser eyes we should be able to withstand this.

I wonder will it drop much further

Bob24

[Deleted User] wrote: »

His posts and manipulation are perfectly fine and absolutely no one using bitcoin should complain about lack of regulation, and if you have a problem with one man making something with a market cap of 835 billion dollars fluctuate by double digit percentages with posts on Twitter, invest in something that has fundamentals.

My brother has lost loads of money the last couple of days and hasn't complained once because he's a grown up who understands what bitcoin is.

BTC is only one part of this story. The man has corporate and legal responsibilities.

I am not sure all Tesla shareholders agree with you that his tweets are perfectly fine (he is not just exposing his own reputation, but also the company’s), and they might think instead of spending time on this he should try to do something about their share price. Also, while they have been toothless until now, I am sure the SEC is monitoring his statements.

And while from a BTC perspective there is nothing illegal, anyone is entitled to disagree with him and express what they think (I don't think I have actually seen many people here complain about the lack of regulation?).

FileNotFound

phishcakes wrote: »

I wonder will it drop much further

Seems to be rolling back up at the moment.

phishcakes

phishcakes wrote: »

I wonder will it drop much further

It stabilised overnight, at least for now anyway, and is currently higher than the price I bought in at. I also used the chance to pick up some cheap Nano because that will surely have at least one more good pump in this bullrun.

Deleted User

Deleted User wrote: »

His posts and manipulation are perfectly fine and absolutely no one using bitcoin should complain about lack of regulation, and if you have a problem with one man making something with a market cap of 835 billion dollars fluctuate by double digit percentages with posts on Twitter, invest in something that has fundamentals.

My brother has lost loads of money the last couple of days and hasn't complained once because he's a grown up who understands what bitcoin is.

How does this type of comment help anyone?

circadian

Badly fukt wrote: »

He's tweeted again

https://twitter.com/elonmusk/status/1394170030741413888

Tesla has not sold Bitcoin? He's talking ****! They sold 10% "to prove liquidity" where in reality the $100+ million Tesla made from selling Bitcoin turned them around from losses to gains.

He's clearly pumping and dumping the market, thankfully, BTC while volatile is able to weather that type of storm. The dips are no different from big bitcoin dips in the past.

Doge on the other hand, many people will get wrecked in that as any kind of volatility brought on by Musk will probably cause a huge crash in it's value, in turn, affecting many other assets as people try to minimise loss.

Bob24

Related to the carbon footprint issue, Galaxy Digital has released a report comparing electricity usage of Bitcoin, the banking industry, and the gold industry.

https://cointelegraph.com/news/banking-system-consumes-two-times-more-energy-than-bitcoin-research

I guess many people will discuss the methodology, but in short: half of the banking system and half of the gold industry.

Musk is definitely becoming this bull run's John McAfee, and it's not a good look. All we need now to confirm it is a pledge to eat his own balls if DOGE doesn't reach X price by Y date.

Idioteque

Badly fukt wrote: »

I've just cancelled my Tesla

I'm the opposite - when the dust settles and the HODL pays off, I'm hoping to buy one as a nice reward .

circadian

Idioteque wrote: »

I'm the opposite - when the dust settles and the HODL pays off, I'm hoping to buy one as a nice reward .

Build quality isn't great, get a Polestar instead.

Bob24

Bob24 wrote: »

Related to the carbon footprint issue, Galaxy Digital has released a report comparing electricity usage of Bitcoin, the banking industry, and the gold industry.

https://cointelegraph.com/news/banking-system-consumes-two-times-more-energy-than-bitcoin-research

I guess many people will discuss the methodology, but in short: half of the banking system and half of the gold industry.

Thanks. I was wondering about this exact comparison recently.

Rob2D

Idioteque wrote: »

I'm the opposite - when the dust settles and the HODL pays off, I'm hoping to buy one as a nice reward .

I wouldn't. They're horribly overpriced here. Get something nice instead

I say let Elon tweet away to his heart's content. The market always bounces back afterward. So the more he does it the more resilient the market will become.

Bob24

Bob24 wrote: »

Related to the carbon footprint issue, Galaxy Digital has released a report comparing electricity usage of Bitcoin, the banking industry, and the gold industry.

https://cointelegraph.com/news/banking-system-consumes-two-times-more-energy-than-bitcoin-research

I guess many people will discuss the methodology, but in short: half of the banking system and half of the gold industry.

400,000 bitcoin transactions a day compared to Visa alone which does over 150 million a day.

I've no idea why anyone who likes bitcoin would ever share the fact that it takes up half of all global banking, even including the bank branches themselves.

Idioteque

Rob2D wrote: »

I wouldn't. They're horribly overpriced here. Get something nice instead

I say let Elon tweet away to his heart's content. The market always bounces back afterward. So the more he does it the more resilient the market will become.

Everything is horribly overpriced here

yeah with you on the tweeting. He's obviosuly shaking off those that were never playing the long game and the over-leveraged. It's like watching a soap now on twitter.

Still though, you can't help but feel this will turn more of the large investors off investing in his companies as he is almost trumpian-like in his tweeting of late.

Luckycharms_74

Talking on RTE Radio 1 now about Crypto and Musk

Luckycharms_74

Luckycharms_74 wrote: »

Talking on RTE Radio 1 now about Crypto and Musk

Bullish :pac: