Current Events > Elon Musk crashes bitcoin again after tweeting a breakup meme

(+) Yeah! (+)

https://www.cnbc.com/2021/06/04/bitcoin-falls-after-elon-musk-tweets-breakup-meme.html

https://twitter.com/elonmusk/status/1400620080090730501



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Musk doing everything he can to hurt the little guy.

Par for the course.

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SEC spanked him when he did this with the actual stock market, so now he just fucks with people who buy into bitcoin...

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Nothing wrong with making a meme about crypto. If an Elon meme tanks prices that says a lot more about the investors than it does about Elon.

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I imagine someone would be out for actual blood at some point.

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He's rich and successful, but acts like someone new to the riches and power.

He probably masturbates to the fact that a single tweet from him can disrupt stock and crypto markets, and he's arrogant enough to think he can bypass any consequences of those actions.
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moh82sy posted...

He's rich and successful, but acts like someone new to the riches and power.

He probably masturbates to the fact that a single tweet from him can disrupt stock and crypto markets, and he's arrogant enough to think he can bypass any consequences of those actions.

*To know he can bypass

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Jabodie posted...

Nothing wrong with making a meme about crypto. If an Elon meme tanks prices that says a lot more about the investors than it does about Elon.

This. If the market is volatile enough that a private citizens tweets can affect the price that much then maybe just maybe it's not the best idea to dump your savings into it.

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justaguy3492 posted...

This. If the market is volatile enough that a private citizens tweets can affect the price that much then maybe just maybe it's not the best idea to dump your savings into it.

Ostentably, in the future not even musk tweets will be able to disrupt it, but that may be a ways away.

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Florida man: You took everything from me.
Musk: I dont even know who you are.

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Jabodie posted...

Nothing wrong with making a meme about crypto. If an Elon meme tanks prices that says a lot more about the investors than it does about Elon.

This tbh. And I hold crypto.

The thought that someone can be penalized for speaking about or referencing a company should be frightening. At what income level does someone lose their right to free speech?

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PoundGarden posted...

This tbh. And I hold crypto.

The thought that someone can be penalized for speaking about or referencing a company should be frightening. At what income level does someone lose their right to free speech?

I agree with the sentiment that it doesn't speak well about the crypto market if a single tweet can disrupt it, also that no one should lose his right to free speech. But some people's words and actions have much more influence than others, and they can choose if they want to acknowledge that fact and act responsibly about it or not.

Also, intentions play a part. As I said, Musk with everything he's got seems hungry for power and attention, and has showed in previous occasions that his intentions are often manipulative in nature, like when he tweeted about taking Tesla private and identified the funder and the price before it actually happened:
https://arstechnica.com/cars/2018/08/a-huge-outlier-why-musks-buyout-tweet-could-get-him-in-legal-trouble/
Or when he declared the stock of his company is priced too high:
https://arstechnica.com/cars/2020/05/tesla-stock-plunges-after-musk-tweets-tesla-stock-price-is-too-high

His previous behavior puts everything he says under scrutiny, more so than others. And I say that as an outside observer not impacted by anything of this (I own 0 stock, 0 crypto).
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orcus_snake posted...

Ostentably, in the future not even musk tweets will be able to disrupt it, but that may be a ways away.

Fortunately, that future isn't actually going to ever come

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moh82sy posted...

I agree with the sentiment that it doesn't speak well about the crypto market if a single tweet can disrupt it, also that no one should lose his right to free speech. But some people's words and actions have much more influence than others, and they can choose if they want to acknowledge that fact and act responsibly about it or not.

Also, intentions play a part. As I said, Musk with everything he's got seems hungry for power and attention, and has showed in previous occasions that his intentions are often manipulative in nature, like when he tweeted about taking Tesla private and identified the funder and the price before it actually happened:
https://arstechnica.com/cars/2018/08/a-huge-outlier-why-musks-buyout-tweet-could-get-him-in-legal-trouble/
Or when he declared the stock of his company is priced too high:
https://arstechnica.com/cars/2020/05/tesla-stock-plunges-after-musk-tweets-tesla-stock-price-is-too-high

His previous behavior puts everything he says under scrutiny, more so than others. And I say that as an outside observer not impacted by anything of this (I own 0 stock, 0 crypto).

You're not wrong, and I'm not sure what the answer is. I'm hung up on at how exactly can we quantify at what point someone isn't allowed to comment on stock or finance in general?

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monkmith posted...

SEC spanked him when he did this with the actual stock market, so now he just fucks with people who buy into bitcoin...

I've been trying to figure out for years why trading crypto currencies isn't regulated by the SEC.

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I can't imagine why the fake product with a veneer of futurism would hinge so heavily on Elon Musk's words.

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He did it with the USD and shot up house prices

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